Vericelreported 4Q19 orthopedic revenue of USD $33.6 million, +33.8% vs. 4Q18, with full-year 2019 revenue of $91.6 million, +35.3% vs. 2018. In 2019, the company received biopsies from nearly 1,400 surgeons representing about a quarter of Vericel’s estimated target market and a 25% increase over 2018. To capitalize on the growing utilization of MACI, the company expanded its number of sales territories from 49 to 76 in the fourth quarter. MACI revenue in 2020 is expected to be approximately $115 million, growth of 26% vs. 2019.
“As these results demonstrate, 2019 was a landmark year for Vericel, in which we advanced beyond being solely a high-growth revenue story, with expected sustained strong double-digit revenue growth ahead for MACI. We are entering 2020 as one of the few high revenue growth companies that is also positioned to deliver substantial profit and cash flow growth in the years ahead.” – Vericel President and CEO, Dominick 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
4Q19
4Q18
$ Chg
% Chg
Orthobiologics
$33.6
$25.1
$8.5
33.8%
FY 19
FY 18
$ Chg
% Chg
Orthobiologics
$91.6
$67.7
$23.9
35.3%
Earnings
Amt
% of Sales
Sales
$39.4
Cost of Sales
($10.6)
26.9%
Selling and Admin
($16.4)
41.6%
R & D
($3.2)
8.2%
Other
$0.3
0.7%
Net Earnings
$9.5
24.1%
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
Vericelreported 4Q19 orthopedic revenue of USD $33.6 million, +33.8% vs. 4Q18, with full-year 2019 revenue of $91.6 million, +35.3% vs. 2018. In 2019, the company received biopsies from nearly 1,400 surgeons representing about a quarter of Vericel’s estimated target market and a 25% increase over 2018. To capitalize on the growing...
Vericelreported 4Q19 orthopedic revenue of USD $33.6 million, +33.8% vs. 4Q18, with full-year 2019 revenue of $91.6 million, +35.3% vs. 2018. In 2019, the company received biopsies from nearly 1,400 surgeons representing about a quarter of Vericel’s estimated target market and a 25% increase over 2018. To capitalize on the growing utilization of MACI, the company expanded its number of sales territories from 49 to 76 in the fourth quarter. MACI revenue in 2020 is expected to be approximately $115 million, growth of 26% vs. 2019.
“As these results demonstrate, 2019 was a landmark year for Vericel, in which we advanced beyond being solely a high-growth revenue story, with expected sustained strong double-digit revenue growth ahead for MACI. We are entering 2020 as one of the few high revenue growth companies that is also positioned to deliver substantial profit and cash flow growth in the years ahead.” – Vericel President and CEO, Dominick 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
4Q19
4Q18
$ Chg
% Chg
Orthobiologics
$33.6
$25.1
$8.5
33.8%
FY 19
FY 18
$ Chg
% Chg
Orthobiologics
$91.6
$67.7
$23.9
35.3%
Earnings
Amt
% of Sales
Sales
$39.4
Cost of Sales
($10.6)
26.9%
Selling and Admin
($16.4)
41.6%
R & D
($3.2)
8.2%
Other
$0.3
0.7%
Net Earnings
$9.5
24.1%
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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