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Vericel reported 2Q21 orthopedic revenue of $26.5 million, +75.6% vs, 2Q19. Compared to the same period for 2019, the company’s MACI revenue grew +27.4%. Vericel reiterated its full-year guidance for MACI, with 2021 growth in the mid-30% range.
In the first half of 2021, MACI biopsies grew more than 50% compared to the same time frame last year. That growth came from surgeons in both legacy and newly expanded sales territories. Company leadership expects normal seasonality to play out for its MACI line, with approximately 60% of revenue for the year coming in the second half.
“The market is still probably 5% to 10% down versus the pre-COVID time frame. I would say in terms of the recent commentary around the delta variant, we really haven’t seen any impact at this point in terms of no widespread facilities restricting surgeries and so on. One thing we do think about there is that for any surgical procedure, patients will have a pre-op COVID test. And as cases tend to surge or spike, you’ll have patients that will have to reschedule if they test positive, and so keeping our eye on that.” – Vericel CEO Nick Colangelo
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
| 2Q21 | 2Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Orthobiologics | $26.5 | $15.1 | $11.4 | 75.6% |
| 1H21 | 1H20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Orthobiologics | $50.3 | $35.4 | $14.9 | 42.2% |
Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $39.5 | |
| Cost of Sales | $12.6 | 31.9% |
| General and Admin | $26.2 | 66.3% |
| R & D | $0.0 | 0% |
| Other | $0.1 | 0.1% |
| Net Earnings | ($3.8) | (9.6%) |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
Vericel reported 2Q21 orthopedic revenue of $26.5 million, +75.6% vs, 2Q19. Compared to the same period for 2019, the company's MACI revenue grew +27.4%. Vericel reiterated its full-year guidance for MACI, with 2021 growth in the mid-30% range.
In the first half of 2021, MACI biopsies grew more than 50% compared to the same time frame last...
Vericel reported 2Q21 orthopedic revenue of $26.5 million, +75.6% vs, 2Q19. Compared to the same period for 2019, the company’s MACI revenue grew +27.4%. Vericel reiterated its full-year guidance for MACI, with 2021 growth in the mid-30% range.
In the first half of 2021, MACI biopsies grew more than 50% compared to the same time frame last year. That growth came from surgeons in both legacy and newly expanded sales territories. Company leadership expects normal seasonality to play out for its MACI line, with approximately 60% of revenue for the year coming in the second half.
“The market is still probably 5% to 10% down versus the pre-COVID time frame. I would say in terms of the recent commentary around the delta variant, we really haven’t seen any impact at this point in terms of no widespread facilities restricting surgeries and so on. One thing we do think about there is that for any surgical procedure, patients will have a pre-op COVID test. And as cases tend to surge or spike, you’ll have patients that will have to reschedule if they test positive, and so keeping our eye on that.” – Vericel CEO Nick Colangelo
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
| 2Q21 | 2Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Orthobiologics | $26.5 | $15.1 | $11.4 | 75.6% |
| 1H21 | 1H20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Orthobiologics | $50.3 | $35.4 | $14.9 | 42.2% |
Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $39.5 | |
| Cost of Sales | $12.6 | 31.9% |
| General and Admin | $26.2 | 66.3% |
| R & D | $0.0 | 0% |
| Other | $0.1 | 0.1% |
| Net Earnings | ($3.8) | (9.6%) |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
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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.
