OrthoPediatrics reported 1Q21 orthopedic revenue of USD $21.5 million, +31.2% vs. 1Q20. The company saw growth across its portfolio, even among its oldest products. President David Bailey said, “We’re really encouraged to see almost all of our products, some of which are more than 10 years old, growing by double digits. [It’s] a pretty good indication that we’re taking share, even with several of the products that we’ve had for a long time.”
International stocking distributors, described as the “Achilles heel” of the business in 2020, returned to growth in the first quarter and helped drive impressive OUS revenue. OrthoPediatrics also settled two intellectual property cases, including a four-year-old case with K2M/Stryker. The settlements will save the company significant costs in 2021.
OrthoPediatrics continues evaluating opportunities for smaller acquisitions or partnerships. Mr. Bailey identified biologics and navigation as areas of interest, but said nothing is imminent.
The company expects 2021 revenue in the range of $94 million to $98 million, representing growth between 32% and 38%.
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
1Q21
1Q20
$ Chg
% Chg
Spine
$6.0
$3.7
$2.2
60.4%
Trauma
$14.6
$12.2
$2.3
19.2%
Sports Medicine
$1.0
$0.4
$0.5
120.5%
Total
$21.5
$16.4
$5.1
31.2%
Geographic Sales
1Q21
1Q20
$ Chg
% Chg
US
$16.8
$13.4
$3.5
25.8%
OUS
$4.6
$3.0
$1.7
55.6%
Total
$21.5
$16.4
$5.1
31.2%
Earnings
Amt
% of Sales
Sales
$21.5
Cost of Sales
$5.1
23.9%
General and Admin
$8.9
41.7%
Selling and Marketing
$12.0
56.1%
R & D
$1.3
6.1%
Other
$4.4
20.5%
Net Earnings
($10.4)
(48.4%)
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
OrthoPediatrics reported 1Q21 orthopedic revenue of USD $21.5 million, +31.2% vs. 1Q20. The company saw growth across its portfolio, even among its oldest products. President David Bailey said, “We're really encouraged to see almost all of our products, some of which are more than 10 years old, growing by double digits. a pretty good...
OrthoPediatrics reported 1Q21 orthopedic revenue of USD $21.5 million, +31.2% vs. 1Q20. The company saw growth across its portfolio, even among its oldest products. President David Bailey said, “We’re really encouraged to see almost all of our products, some of which are more than 10 years old, growing by double digits. [It’s] a pretty good indication that we’re taking share, even with several of the products that we’ve had for a long time.”
International stocking distributors, described as the “Achilles heel” of the business in 2020, returned to growth in the first quarter and helped drive impressive OUS revenue. OrthoPediatrics also settled two intellectual property cases, including a four-year-old case with K2M/Stryker. The settlements will save the company significant costs in 2021.
OrthoPediatrics continues evaluating opportunities for smaller acquisitions or partnerships. Mr. Bailey identified biologics and navigation as areas of interest, but said nothing is imminent.
The company expects 2021 revenue in the range of $94 million to $98 million, representing growth between 32% and 38%.
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
1Q21
1Q20
$ Chg
% Chg
Spine
$6.0
$3.7
$2.2
60.4%
Trauma
$14.6
$12.2
$2.3
19.2%
Sports Medicine
$1.0
$0.4
$0.5
120.5%
Total
$21.5
$16.4
$5.1
31.2%
Geographic Sales
1Q21
1Q20
$ Chg
% Chg
US
$16.8
$13.4
$3.5
25.8%
OUS
$4.6
$3.0
$1.7
55.6%
Total
$21.5
$16.4
$5.1
31.2%
Earnings
Amt
% of Sales
Sales
$21.5
Cost of Sales
$5.1
23.9%
General and Admin
$8.9
41.7%
Selling and Marketing
$12.0
56.1%
R & D
$1.3
6.1%
Other
$4.4
20.5%
Net Earnings
($10.4)
(48.4%)
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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