Surgalign reported 3Q20 orthopedic revenue of USD $27.9 million, -2.7% vs. 3Q19. In its first quarter as a pure-play spine company, Surgalign’s 3Q20 revenues were on par with the prior year. The majority of the $800,000 shortfall relates to changes in revenue recognition procedures for international biologics sales.
The company is committed to digital surgery as a strategic initiative. Surgalign is preparing for the regulatory submission of the newly acquired Holo Surgical’s Augmented Reality and Artificial Intelligence (ARAI™) platform. Surgalign plans to develop smart instruments for the system in the future. The company will also actively seek to acquire enabling technologies to bolster its portfolio and accelerate its growth trajectory.
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
3Q20
3Q19
$ Chg
% Chg
Spine
$21.5
$22.2
($0.7)
(3.3%)
Orthobiologics
$6.4
$6.5
($0.0)
(0.5%)
Total
$27.9
$28.7
($0.8)
(2.7%)
9m20
9m19
$ Chg
% Chg
Spine
$58.2
$66.2
($8.0)
(12.1%)
Orthobiologics
$17.3
$19.6
($2.3)
(11.7%)
Total
$75.6
$85.8
($10.3)
(12%)
Geographic Sales
3Q20
3Q19
$ Chg
% Chg
US
$23.7
$24.3
($0.6)
(2.5%)
OUS
$4.2
$4.4
($0.2)
(3.9%)
Total
$27.9
$28.7
($0.8)
(2.7%)
9m20
9m19
$ Chg
% Chg
US
$62.9
$70.9
($7.9)
(11.2%)
OUS
$12.6
$15.0
($2.3)
(15.6%)
Total
$75.6
$85.8
($10.3)
(12%)
Earnings
Amt
% of Sales
Sales
$27.9
Cost of Sales
$11.9
42.6%
General and Admin
$27.8
99.4%
R & D
$2.2
7.9%
Other
$12.7
45.6%
Net Earnings
($26.7)
(95.4%)
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
Surgalign reported 3Q20 orthopedic revenue of USD $27.9 million, -2.7% vs. 3Q19. In its first quarter as a pure-play spine company, Surgalign’s 3Q20 revenues were on par with the prior year. The majority of the $800,000 shortfall relates to changes in revenue recognition procedures for international biologics sales.
The company is...
Surgalign reported 3Q20 orthopedic revenue of USD $27.9 million, -2.7% vs. 3Q19. In its first quarter as a pure-play spine company, Surgalign’s 3Q20 revenues were on par with the prior year. The majority of the $800,000 shortfall relates to changes in revenue recognition procedures for international biologics sales.
The company is committed to digital surgery as a strategic initiative. Surgalign is preparing for the regulatory submission of the newly acquired Holo Surgical’s Augmented Reality and Artificial Intelligence (ARAI™) platform. Surgalign plans to develop smart instruments for the system in the future. The company will also actively seek to acquire enabling technologies to bolster its portfolio and accelerate its growth trajectory.
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
3Q20
3Q19
$ Chg
% Chg
Spine
$21.5
$22.2
($0.7)
(3.3%)
Orthobiologics
$6.4
$6.5
($0.0)
(0.5%)
Total
$27.9
$28.7
($0.8)
(2.7%)
9m20
9m19
$ Chg
% Chg
Spine
$58.2
$66.2
($8.0)
(12.1%)
Orthobiologics
$17.3
$19.6
($2.3)
(11.7%)
Total
$75.6
$85.8
($10.3)
(12%)
Geographic Sales
3Q20
3Q19
$ Chg
% Chg
US
$23.7
$24.3
($0.6)
(2.5%)
OUS
$4.2
$4.4
($0.2)
(3.9%)
Total
$27.9
$28.7
($0.8)
(2.7%)
9m20
9m19
$ Chg
% Chg
US
$62.9
$70.9
($7.9)
(11.2%)
OUS
$12.6
$15.0
($2.3)
(15.6%)
Total
$75.6
$85.8
($10.3)
(12%)
Earnings
Amt
% of Sales
Sales
$27.9
Cost of Sales
$11.9
42.6%
General and Admin
$27.8
99.4%
R & D
$2.2
7.9%
Other
$12.7
45.6%
Net Earnings
($26.7)
(95.4%)
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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