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OrthoPediatrics reported 1Q22 orthopedic sales of $23.4 million, +9.1% compared to 1Q21.
The company’s non-elective trauma business grew by over +13% in the quarter and helped offset COVID-related headwinds in spine and sports medicine.
OrthoPediatrics CEO David Bailey said, “Specifically PNP Femur and Cannulated Screws continued to benefit from positive customer preference and record set deployment. In the United States, we expect this trend to continue throughout the balance of 2022 and beyond, supported by additional set deployment and continued surgeon adoption.”
The company expanded its addressable market through the recent acquisition of MD Orthopedics and its non-operative solution for the treatment of clubfoot. OrthoPediatrics also plans to build software competency to develop a surgical planning platform for pediatric deformity correction.
With the inclusion of MD Orthopedics, the company now expects 2022 revenue between $122 million and $125 million, representing growth between +24% and +27%.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. Orthopedic sales and growth rates are estimated on an as-reported basis.
Orthopedic Sales by Segment
| 1Q22 | 1Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $6.0 | $6.0 | $0.0 | 0.5% |
| Trauma | $16.5 | $14.6 | $2.0 | 13.5% |
| Sports Medicine | $0.9 | $1.0 | ($0.0) | (4.3%) |
| Total | $23.4 | $21.5 | $2.0 | 9.1% |
Orthopedic Sales by Geography
| 1Q22 | 1Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $18.2 | $16.8 | $1.3 | 8% |
| OUS | $5.2 | $4.6 | $0.6 | 13.1% |
| Total | $23.4 | $21.5 | $2.0 | 9.1% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $23.4 | |
| Cost of Sales | $4.9 | 20.7% |
| General and Admin | $9.8 | 41.7% |
| Selling and Marketing | $13.2 | 56.2% |
| R & D | $2.0 | 8.7% |
| Other | $2.7 | 11.6% |
| Net Earnings | ($9.1) | (38.9%) |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
OrthoPediatrics reported 1Q22 orthopedic sales of $23.4 million, +9.1% compared to 1Q21.
The company's non-elective trauma business grew by over +13% in the quarter and helped offset COVID-related headwinds in spine and sports medicine.
OrthoPediatrics CEO David Bailey said, "Specifically PNP Femur and Cannulated Screws continued to benefit...
OrthoPediatrics reported 1Q22 orthopedic sales of $23.4 million, +9.1% compared to 1Q21.
The company’s non-elective trauma business grew by over +13% in the quarter and helped offset COVID-related headwinds in spine and sports medicine.
OrthoPediatrics CEO David Bailey said, “Specifically PNP Femur and Cannulated Screws continued to benefit from positive customer preference and record set deployment. In the United States, we expect this trend to continue throughout the balance of 2022 and beyond, supported by additional set deployment and continued surgeon adoption.”
The company expanded its addressable market through the recent acquisition of MD Orthopedics and its non-operative solution for the treatment of clubfoot. OrthoPediatrics also plans to build software competency to develop a surgical planning platform for pediatric deformity correction.
With the inclusion of MD Orthopedics, the company now expects 2022 revenue between $122 million and $125 million, representing growth between +24% and +27%.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. Orthopedic sales and growth rates are estimated on an as-reported basis.
Orthopedic Sales by Segment
| 1Q22 | 1Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $6.0 | $6.0 | $0.0 | 0.5% |
| Trauma | $16.5 | $14.6 | $2.0 | 13.5% |
| Sports Medicine | $0.9 | $1.0 | ($0.0) | (4.3%) |
| Total | $23.4 | $21.5 | $2.0 | 9.1% |
Orthopedic Sales by Geography
| 1Q22 | 1Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $18.2 | $16.8 | $1.3 | 8% |
| OUS | $5.2 | $4.6 | $0.6 | 13.1% |
| Total | $23.4 | $21.5 | $2.0 | 9.1% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $23.4 | |
| Cost of Sales | $4.9 | 20.7% |
| General and Admin | $9.8 | 41.7% |
| Selling and Marketing | $13.2 | 56.2% |
| R & D | $2.0 | 8.7% |
| Other | $2.7 | 11.6% |
| Net Earnings | ($9.1) | (38.9%) |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
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ME
Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
