- Increased 2019 revenue guidance to a range of 23% to 25% growth
- Acquisition of Orthex expands coverage from 60% to 80% of addressable trauma and deformity market and expands existing surgeon base
- Trauma growth partially driven by continued uptake of PNP Femur intramedullary nail system, launched in June 2018
- Increased summer volume of elective deformity surgeries offset a seasonal slowdown in 1Q
- Set deployments year to date are in the $12MM range, on pace for between $15MM and $17MM for the full year
Performance by Segment
ORTHOWORLD estimates segment sales and growth on an as-reported basis, as follows ($MM):
| 2Q19 | 2Q18 | $ Chg | % Chg |
| Spine | $5.9 | $4.9 | $1.0 | 19.8% |
| Trauma | $11.9 | $9.9 | $2.0 | 20.6% |
| Sports Medicine | $0.4 | $0.3 | $0.1 | 39.7% |
| Total | $18.2 | $15.1 | $3.1 | 20.7% |
| 1H19 | 1H18 | $ Chg | % Chg |
| Spine | $10.1 | $7.6 | $2.5 | 33.5% |
| Trauma | $21.9 | $19.0 | $2.9 | 15.4% |
| Sports Medicine | $0.8 | $0.6 | $0.2 | 36.6% |
| Total | $32.9 | $27.2 | $5.7 | 20.9% |
Sales by Geographic Region
ORTHOWORLD estimates geographic sales and growth as follows ($MM):
| 2Q19 | 2Q18 | $ Chg | % Chg |
| US | $13.8 | $11.5 | $2.4 | 20.9% |
| Ex-US | $4.4 | $3.6 | $0.7 | 20.3% |
| Total | $18.2 | $15.1 | $3.1 | 20.7% |
Net Earnings Data
Net earnings, inclusive of all revenue, are as follows.
| Amt | % of Sales |
| Sales | $18.2 | |
| Cost of Sales | -$4.6 | 25.2% |
| General and Admin | -$6.6 | 36.1% |
| Selling and Marketing | -$7.6 | 41.8% |
| R & D | -$1.2 | 6.8% |
| Other | -$0.8 | 4.5% |
| Net Earnings | -$2.6 | -14.4% |
Source: OrthoPediatrics
Mike Evers is ORTHOWORLD’s Market Analyst. He can be reached by email.
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