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Vericel reported 2Q23 orthopedic sales of $36.3 million, +27% compared to the second quarter of 2022. For the first half of 2023, the company generated $70.5 million in orthopedic sales, +29.1% compared to the first half of the prior year.
An expanding surgeon base drove sustained growth for the company’s MACI cartilage repair implant. Vericel saw its highest-ever second quarter for MACI sales, the highest number of biopsying surgeons since launch and second highest number of biopsies in a quarter. The company expects to launch arthroscopic delivery for MACI in the first half of 2024, adding a significant growth driver for the coming years.
“The MACI arthroscopic instrument kit is designed to treat smaller two- to four-square-centimeter defect on the femoral condyles,” said Vericel CEO Nick Colangelo. “Importantly, these defects represent the largest market opportunity for MACI as this segment represents about 20,000 patients per year or approximately a third of the $3 billion addressable market for MACI. While MACI has significant volume in this segment, its penetration rate is lower compared to other areas of the knee.”
Given results to date and positive biopsy trends, Vericel increased full-year MACI sales guidance to the range of $159 million to $163 million, representing growth between 20.5% and 23.5%.
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. Note: going forward, we’ll report Vericel sales in our sports medicine category.
Orthopedic Sales by Segment
| 2Q23 | 2Q22 | $ Chg | % Chg | |
|---|---|---|---|---|
| Sports Medicine | $36.3 | $28.6 | $7.7 | 27% |
| 1H23 | 1H22 | $ Chg | % Chg | |
|---|---|---|---|---|
| Sports Medicine | $70.5 | $54.6 | $15.9 | 29.1% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $45.9 | |
| Cost of Sales | $16.0 | 34.8% |
| General and Admin | $30.6 | 66.7% |
| R & D | $5.3 | 11.4% |
| Other | ($0.9) | (2%) |
| Net Earnings | ($5.0) | (10.9%) |
Vericel reported 2Q23 orthopedic sales of $36.3 million, +27% compared to the second quarter of 2022. For the first half of 2023, the company generated $70.5 million in orthopedic sales, +29.1% compared to the first half of the prior year.
An expanding surgeon base drove sustained growth for the company's MACI cartilage repair implant....
Vericel reported 2Q23 orthopedic sales of $36.3 million, +27% compared to the second quarter of 2022. For the first half of 2023, the company generated $70.5 million in orthopedic sales, +29.1% compared to the first half of the prior year.
An expanding surgeon base drove sustained growth for the company’s MACI cartilage repair implant. Vericel saw its highest-ever second quarter for MACI sales, the highest number of biopsying surgeons since launch and second highest number of biopsies in a quarter. The company expects to launch arthroscopic delivery for MACI in the first half of 2024, adding a significant growth driver for the coming years.
“The MACI arthroscopic instrument kit is designed to treat smaller two- to four-square-centimeter defect on the femoral condyles,” said Vericel CEO Nick Colangelo. “Importantly, these defects represent the largest market opportunity for MACI as this segment represents about 20,000 patients per year or approximately a third of the $3 billion addressable market for MACI. While MACI has significant volume in this segment, its penetration rate is lower compared to other areas of the knee.”
Given results to date and positive biopsy trends, Vericel increased full-year MACI sales guidance to the range of $159 million to $163 million, representing growth between 20.5% and 23.5%.
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. Note: going forward, we’ll report Vericel sales in our sports medicine category.
Orthopedic Sales by Segment
| 2Q23 | 2Q22 | $ Chg | % Chg | |
|---|---|---|---|---|
| Sports Medicine | $36.3 | $28.6 | $7.7 | 27% |
| 1H23 | 1H22 | $ Chg | % Chg | |
|---|---|---|---|---|
| Sports Medicine | $70.5 | $54.6 | $15.9 | 29.1% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $45.9 | |
| Cost of Sales | $16.0 | 34.8% |
| General and Admin | $30.6 | 66.7% |
| R & D | $5.3 | 11.4% |
| Other | ($0.9) | (2%) |
| Net Earnings | ($5.0) | (10.9%) |
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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.
