OrthoPediatrics reported 2Q21 orthopedic revenue of $26.7 million, +96.4% vs. 2Q20. Give the impact of the pandemic on the second quarter of 2020 and the company’s smaller revenue base in 2019, OrthoPediatrics framed its performance relative to its sequential improvement over 1Q21. Based on that comparison, the company grew +24.4% in the second quarter.
OrthoPediatrics’ leadership team said they believe clinical and orthopedic surgery volumes in the U.S. have “largely normalized” to pre-COVID conditions and surgeons appear to have worked through much of their backlogs. Therefore, the company’s growth in the second quarter is largely attributable to market share gains and improving international trends for the ApiFix and ORTHEX products.
Considering its first-half performance, OrthoPediatrics increased its 2021 guidance range up to the range of $97 million to $101 million, a $3 million increase at both the high and low ends.
Revenue Data
All revenue data is provided in USD millions unless otherwise noted. Sales and growth rates are estimated on an as-reported basis.
Segment Sales
2Q21
2Q20
$ Chg
% Chg
Spine
$7.7
$3.8
$3.8
99.6%
Trauma
$17.9
$9.2
$8.7
94.5%
Sports Medicine
$1.1
$0.5
$0.6
105.8%
Total
$26.7
$13.6
$13.1
96.4%
1H21
1H20
$ Chg
% Chg
Spine
$13.6
$7.5
$6.1
80.3%
Trauma
$32.5
$21.4
$11.1
51.6%
Sports Medicine
$2.1
$1.0
$1.1
112.3%
Total
$48.2
$29.9
$18.2
60.8%
1H21
1H20
$ Chg
% Chg
US
$38.6
$25.5
$13.0
51.1%
OUS
$9.6
$4.4
$5.2
116.8%
Total
$48.2
$29.9
$18.2
60.8%
Geographic Sales
2Q21
2Q20
$ Chg
% Chg
US
$21.7
$12.1
$9.6
79%
OUS
$5.0
$1.4
$3.5
242.6%
Total
$26.7
$13.6
$13.1
96.4%
Earnings
Amt
% of Sales
Sales
$26.7
Cost of Sales
$6.3
23.4%
General and Admin
$10.9
40.7%
Selling and Marketing
$11.1
41.5%
R & D
$1.3
5%
Other
$11.8
44.2%
Net Earnings
($3.8)
(14.1%)
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
OrthoPediatrics reported 2Q21 orthopedic revenue of $26.7 million, +96.4% vs. 2Q20. Give the impact of the pandemic on the second quarter of 2020 and the company's smaller revenue base in 2019, OrthoPediatrics framed its performance relative to its sequential improvement over 1Q21. Based on that comparison, the company grew +24.4% in the...
OrthoPediatrics reported 2Q21 orthopedic revenue of $26.7 million, +96.4% vs. 2Q20. Give the impact of the pandemic on the second quarter of 2020 and the company’s smaller revenue base in 2019, OrthoPediatrics framed its performance relative to its sequential improvement over 1Q21. Based on that comparison, the company grew +24.4% in the second quarter.
OrthoPediatrics’ leadership team said they believe clinical and orthopedic surgery volumes in the U.S. have “largely normalized” to pre-COVID conditions and surgeons appear to have worked through much of their backlogs. Therefore, the company’s growth in the second quarter is largely attributable to market share gains and improving international trends for the ApiFix and ORTHEX products.
Considering its first-half performance, OrthoPediatrics increased its 2021 guidance range up to the range of $97 million to $101 million, a $3 million increase at both the high and low ends.
Revenue Data
All revenue data is provided in USD millions unless otherwise noted. Sales and growth rates are estimated on an as-reported basis.
Segment Sales
2Q21
2Q20
$ Chg
% Chg
Spine
$7.7
$3.8
$3.8
99.6%
Trauma
$17.9
$9.2
$8.7
94.5%
Sports Medicine
$1.1
$0.5
$0.6
105.8%
Total
$26.7
$13.6
$13.1
96.4%
1H21
1H20
$ Chg
% Chg
Spine
$13.6
$7.5
$6.1
80.3%
Trauma
$32.5
$21.4
$11.1
51.6%
Sports Medicine
$2.1
$1.0
$1.1
112.3%
Total
$48.2
$29.9
$18.2
60.8%
1H21
1H20
$ Chg
% Chg
US
$38.6
$25.5
$13.0
51.1%
OUS
$9.6
$4.4
$5.2
116.8%
Total
$48.2
$29.9
$18.2
60.8%
Geographic Sales
2Q21
2Q20
$ Chg
% Chg
US
$21.7
$12.1
$9.6
79%
OUS
$5.0
$1.4
$3.5
242.6%
Total
$26.7
$13.6
$13.1
96.4%
Earnings
Amt
% of Sales
Sales
$26.7
Cost of Sales
$6.3
23.4%
General and Admin
$10.9
40.7%
Selling and Marketing
$11.1
41.5%
R & D
$1.3
5%
Other
$11.8
44.2%
Net Earnings
($3.8)
(14.1%)
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
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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.
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