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OrthoPediatrics reported 3Q23 orthopedic sales of $40 million, +14.4% compared to the third quarter of 2022. For the first nine months of the year, the company generated $111.1 million in orthopedic sales, +21.7% compared to the prior year.
The record revenues during the third quarter came on the strength of the company’s trauma offerings like PNP Femur and cannulated screws, as well as “fantastic growth” from Pega products. Scoliosis sales grew in the low single digits against substantial comps from the prior year as well as irregular ordering patterns from South American distributors.
OrthoPediatrics expects to dominate the pediatric limb deformity space in the next five years.
“The T&D business is well positioned to continue to deliver sustainable growth,” said OrthoPediatrics CEO David Bailey. “Further, we believe certain players are placing even less focus on pediatric trauma and limb deformity if not entirely exiting the space in the coming years. This places us in the driver’s seat to claim the dominant share position across the next five years.”
The company reiterated its 2023 revenue guidance of $148 million to $151 million, representing growth between 21% and 23%.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. We estimate orthopedic sales and growth on an as-reported basis.
Orthopedic Sales by Segment
| Segment | 3Q23 | 3Q22 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $10.3 | $10.0 | $0.3 | 3.3% |
| Trauma | $28.8 | $23.9 | $4.9 | 20.6% |
| Sports Medicine | $0.9 | $1.1 | ($0.2) | (20.1%) |
| Total | $40.0 | $35.0 | $5.0 | 14.4% |
| Segment | 9m23 | 9m22 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $28.3 | $25.4 | $2.9 | 11.4% |
| Trauma | $79.7 | $63.0 | $16.7 | 26.6% |
| Sports Medicine | $3.1 | $2.9 | $0.2 | 6.8% |
| Total | $111.1 | $91.3 | $19.8 | 21.7% |
Orthopedic Sales by Geography
| Region | 3Q23 | 3Q22 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $29.4 | $26.5 | $2.8 | 10.6% |
| OUS | $10.6 | $8.4 | $2.2 | 26.2% |
| Total | $40.0 | $35.0 | $5.0 | 14.4% |
| Region | 9m23 | 9m22 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $82.7 | $69.7 | $13.1 | 18.7% |
| OUS | $28.4 | $21.6 | $6.8 | 31.3% |
| Total | $111.1 | $91.3 | $19.8 | 21.7% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $40.0 | |
| Cost of Sales | $9.0 | 22.6% |
| General and Admin | $13.6 | 34% |
| Selling and Marketing | $18.5 | 46.3% |
| R & D | $2.4 | 6% |
| Other | $14.7 | 36.7% |
| Net Earnings | ($4.6) | (11.5%) |
OrthoPediatrics reported 3Q23 orthopedic sales of $40 million, +14.4% compared to the third quarter of 2022. For the first nine months of the year, the company generated $111.1 million in orthopedic sales, +21.7% compared to the prior year.
The record revenues during the third quarter came on the strength of the company's trauma offerings...
OrthoPediatrics reported 3Q23 orthopedic sales of $40 million, +14.4% compared to the third quarter of 2022. For the first nine months of the year, the company generated $111.1 million in orthopedic sales, +21.7% compared to the prior year.
The record revenues during the third quarter came on the strength of the company’s trauma offerings like PNP Femur and cannulated screws, as well as “fantastic growth” from Pega products. Scoliosis sales grew in the low single digits against substantial comps from the prior year as well as irregular ordering patterns from South American distributors.
OrthoPediatrics expects to dominate the pediatric limb deformity space in the next five years.
“The T&D business is well positioned to continue to deliver sustainable growth,” said OrthoPediatrics CEO David Bailey. “Further, we believe certain players are placing even less focus on pediatric trauma and limb deformity if not entirely exiting the space in the coming years. This places us in the driver’s seat to claim the dominant share position across the next five years.”
The company reiterated its 2023 revenue guidance of $148 million to $151 million, representing growth between 21% and 23%.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. We estimate orthopedic sales and growth on an as-reported basis.
Orthopedic Sales by Segment
| Segment | 3Q23 | 3Q22 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $10.3 | $10.0 | $0.3 | 3.3% |
| Trauma | $28.8 | $23.9 | $4.9 | 20.6% |
| Sports Medicine | $0.9 | $1.1 | ($0.2) | (20.1%) |
| Total | $40.0 | $35.0 | $5.0 | 14.4% |
| Segment | 9m23 | 9m22 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $28.3 | $25.4 | $2.9 | 11.4% |
| Trauma | $79.7 | $63.0 | $16.7 | 26.6% |
| Sports Medicine | $3.1 | $2.9 | $0.2 | 6.8% |
| Total | $111.1 | $91.3 | $19.8 | 21.7% |
Orthopedic Sales by Geography
| Region | 3Q23 | 3Q22 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $29.4 | $26.5 | $2.8 | 10.6% |
| OUS | $10.6 | $8.4 | $2.2 | 26.2% |
| Total | $40.0 | $35.0 | $5.0 | 14.4% |
| Region | 9m23 | 9m22 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $82.7 | $69.7 | $13.1 | 18.7% |
| OUS | $28.4 | $21.6 | $6.8 | 31.3% |
| Total | $111.1 | $91.3 | $19.8 | 21.7% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $40.0 | |
| Cost of Sales | $9.0 | 22.6% |
| General and Admin | $13.6 | 34% |
| Selling and Marketing | $18.5 | 46.3% |
| R & D | $2.4 | 6% |
| Other | $14.7 | 36.7% |
| Net Earnings | ($4.6) | (11.5%) |
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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.
