Vericel reported 3Q23 orthopedic sales of $37.6 million, +21.2% compared to the third quarter of 2022. For the first nine months of the year, the company generated $108.1 million in orthopedic sales, +26.3% compared to the prior year.
The company drove sales growth of 20% or more in the last five consecutive quarters, leading Vericel to increase 2023 guidance to $160 million to $164 million, with growth in the low 20% range.
The launch of the MACI arthroscopic delivery program remains on track for the first half of 2024 and figures to be a key future growth driver.
“Our recent market research indicated that orthopedic surgeons view arthroscopic MACI as a meaningful innovation in the cartilage repair market and that regardless of their current MACI usage,” said Vericel CEO Nick Colangelo. “Surgeons expect to shift a meaningful share of their procedures in this segment from alternative products and procedures to the MACI arthroscopic procedure. We believe that adding an arthroscopic delivery option represents another significant growth driver for MACI and will positively impact our overall business in the years ahead.”
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
Sports Medicine
$37.6
$31.0
$6.6
21.2%
Segment
9mo22
9mo21
$ Chg
% Chg
Sports Medicine
$108.1
$85.6
$22.5
26.3%
Company Earnings
Amt
% of Sales
Sales
$38.6
Cost of Sales
$13.3
34.5%
General and Admin
$27.0
70%
R & D
$5.0
13.1%
Other
($0.2)
(0.5%)
Net Earnings
($6.6)
(17.1%)
Vericel reported 3Q23 orthopedic sales of $37.6 million, +21.2% compared to the third quarter of 2022. For the first nine months of the year, the company generated $108.1 million in orthopedic sales, +26.3% compared to the prior year.
The company drove sales growth of 20% or more in the last five consecutive quarters, leading Vericel to...
Vericel reported 3Q23 orthopedic sales of $37.6 million, +21.2% compared to the third quarter of 2022. For the first nine months of the year, the company generated $108.1 million in orthopedic sales, +26.3% compared to the prior year.
The company drove sales growth of 20% or more in the last five consecutive quarters, leading Vericel to increase 2023 guidance to $160 million to $164 million, with growth in the low 20% range.
The launch of the MACI arthroscopic delivery program remains on track for the first half of 2024 and figures to be a key future growth driver.
“Our recent market research indicated that orthopedic surgeons view arthroscopic MACI as a meaningful innovation in the cartilage repair market and that regardless of their current MACI usage,” said Vericel CEO Nick Colangelo. “Surgeons expect to shift a meaningful share of their procedures in this segment from alternative products and procedures to the MACI arthroscopic procedure. We believe that adding an arthroscopic delivery option represents another significant growth driver for MACI and will positively impact our overall business in the years ahead.”
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
Sports Medicine
$37.6
$31.0
$6.6
21.2%
Segment
9mo22
9mo21
$ Chg
% Chg
Sports Medicine
$108.1
$85.6
$22.5
26.3%
Company Earnings
Amt
% of Sales
Sales
$38.6
Cost of Sales
$13.3
34.5%
General and Admin
$27.0
70%
R & D
$5.0
13.1%
Other
($0.2)
(0.5%)
Net Earnings
($6.6)
(17.1%)
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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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