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SeaSpine announced 1Q18 revenue of US $33.2MM, +4.1% vs. 1Q17.
| 1Q18 | 1Q17 | $ Change | % Change | |
| Spine | $15.2 | $14.8 | $0.4 | 2.9% |
| Orthobiologics | $18.0 | $17.1 | $0.9 | 5.1% |
| Total | $33.2 | $31.9 | $1.3 | 4.1% |
As noted by President/CEO Keith Valentine in the earnings call, “This marks the first quarter since the [2015] spin-off [from Integra] that revenue in our orthobiologics and spinal implants portfolios grew both in the U.S. and internationally.” And grow they did! Here is that information from the 10-Q:
| Three Months Ended March 31, | 2018 vs. 2017 | ||||||
| 2018 | 2017 | % Change | |||||
| (In thousands) | |||||||
| Orthobiologics | $ | 18,016 | $ | 17,125 | 5.2 | % | |
| United States | 15,837 | 15,102 | 4.9 | % | |||
| International | 2,179 | 2,023 | 7.7 | % | |||
| Spinal Implants | $ | 15,159 | $ | 14,769 | 2.6 | % | |
| United States | 13,701 | 13,509 | 1.4 | % | |||
| International | 1,458 | 1,260 | 15.7 | % | |||
| Total revenue, net | $ | 33,175 | $ | 31,894 | 4 | % | |
Growth was supported by recently-launched products, market penetration from increasingly exclusive distributors and a deep commitment to education/training.
In spine, revenue from recently-launched products (including the modular Shoreline and Mariner systems) comprised 45% of U.S. spinal implant revenue, vs. just 24% in 1Q17.
After the quarter close, SPNE moved its OsteoBallast DBM in Resorbable Mesh product to full commercial launch; mid-year full launch of OsteoStrand fiber-based DBM remains on track. These products will drive accelerating revenue growth in the U.S. in 2H18.
In 1Q, SPNE added flared and large-sized implants and new instruments to its spinous process fixation system. Other 2018 launches include:
- The REGATTA lateral implant and instrumentation system, using NanoMetalene technology (3Q)
- Newly-designed comprehensive posterior decompression and disc prep instrument system
- New instrumentation to use with one of the most frequently-used third-party cervical navigation systems (by 3Q)
- New implants and instruments that leverage the Mariner pedicle screw to address larger, more complex cases
- Alpha launch of a midline cortical screw
- Broader commercial launch of Skipjack expandable posterior interbody devices
Source: SeaSpine
SeaSpine announced 1Q18 revenue of US $33.2MM, +4.1% vs. 1Q17.
Q18
Q17
$ Change
% Change
Spine
$15.2
$14.8
$0.4
2.9%
Orthobiologics...
SeaSpine announced 1Q18 revenue of US $33.2MM, +4.1% vs. 1Q17.
| 1Q18 | 1Q17 | $ Change | % Change | |
| Spine | $15.2 | $14.8 | $0.4 | 2.9% |
| Orthobiologics | $18.0 | $17.1 | $0.9 | 5.1% |
| Total | $33.2 | $31.9 | $1.3 | 4.1% |
As noted by President/CEO Keith Valentine in the earnings call, “This marks the first quarter since the [2015] spin-off [from Integra] that revenue in our orthobiologics and spinal implants portfolios grew both in the U.S. and internationally.” And grow they did! Here is that information from the 10-Q:
| Three Months Ended March 31, | 2018 vs. 2017 | ||||||
| 2018 | 2017 | % Change | |||||
| (In thousands) | |||||||
| Orthobiologics | $ | 18,016 | $ | 17,125 | 5.2 | % | |
| United States | 15,837 | 15,102 | 4.9 | % | |||
| International | 2,179 | 2,023 | 7.7 | % | |||
| Spinal Implants | $ | 15,159 | $ | 14,769 | 2.6 | % | |
| United States | 13,701 | 13,509 | 1.4 | % | |||
| International | 1,458 | 1,260 | 15.7 | % | |||
| Total revenue, net | $ | 33,175 | $ | 31,894 | 4 | % | |
Growth was supported by recently-launched products, market penetration from increasingly exclusive distributors and a deep commitment to education/training.
In spine, revenue from recently-launched products (including the modular Shoreline and Mariner systems) comprised 45% of U.S. spinal implant revenue, vs. just 24% in 1Q17.
After the quarter close, SPNE moved its OsteoBallast DBM in Resorbable Mesh product to full commercial launch; mid-year full launch of OsteoStrand fiber-based DBM remains on track. These products will drive accelerating revenue growth in the U.S. in 2H18.
In 1Q, SPNE added flared and large-sized implants and new instruments to its spinous process fixation system. Other 2018 launches include:
- The REGATTA lateral implant and instrumentation system, using NanoMetalene technology (3Q)
- Newly-designed comprehensive posterior decompression and disc prep instrument system
- New instrumentation to use with one of the most frequently-used third-party cervical navigation systems (by 3Q)
- New implants and instruments that leverage the Mariner pedicle screw to address larger, more complex cases
- Alpha launch of a midline cortical screw
- Broader commercial launch of Skipjack expandable posterior interbody devices
Source: SeaSpine
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JV
Julie Vetalice is ORTHOWORLD's Editorial Assistant. She has covered the orthopedic industry for over 20 years, having joined the company in 1999.
