Vericel reported 4Q22 orthopedic sales of $46.4 million, +24.1% compared to 4Q21. For the full year 2022, the company’s orthopedic sales totalled $132 million, +18.3% compared to the year prior.
Fourth quarter MACI results were driven by a 10% increase in biopsying surgeons and conversion rate trending upwards. Those factors generated a record $46 million in MACI revenues for the quarter.
Following Vericel’s December meeting with FDA, the company plans to initiate a human factors validation study to support arthroscopically-delivered MACI for the treatment of cartilage defects in the knee.
Vericel CEO Nick Colangelo said, “We now anticipate a potential launch of arthroscopic MACI in 2024, which is several years earlier than if an additional clinical study was required. We believe that the arthroscopic delivery of MACI will be a very attractive option for patients and surgeons, and could provide a substantial upside growth opportunity for MACI.”
The company is off to a fast start in 2023, as well. First-quarter MACI revenues are likely to grow by 20%. Vericel expects 2023 MACI sales between $152 million and $156 million, representing 16.7% growth compared to 2022.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. Orthopedic sales and growth rates are estimated on an as-reported basis.
Orthopedic Sales by Segment
4Q22
4Q21
$ Chg
% Chg
Orthobiologics
$46.4
$37.4
$9.0
24.1%
FY22
FY21
$ Chg
% Chg
Orthobiologics
$132.0
$111.6
$20.4
18.3%
Company Earnings
Amt
% of Sales
Sales
$52.7
Cost of Sales
$14.4
27.4%
General and Admin
$26.9
51.1%
R & D
$5.2
10%
Other
$0.2
0.3%
Net Earnings
$5.9
11.2%
Vericel reported 4Q22 orthopedic sales of $46.4 million, +24.1% compared to 4Q21. For the full year 2022, the company's orthopedic sales totalled $132 million, +18.3% compared to the year prior.
Fourth quarter MACI results were driven by a 10% increase in biopsying surgeons and conversion rate trending upwards. Those factors generated a...
Vericel reported 4Q22 orthopedic sales of $46.4 million, +24.1% compared to 4Q21. For the full year 2022, the company’s orthopedic sales totalled $132 million, +18.3% compared to the year prior.
Fourth quarter MACI results were driven by a 10% increase in biopsying surgeons and conversion rate trending upwards. Those factors generated a record $46 million in MACI revenues for the quarter.
Following Vericel’s December meeting with FDA, the company plans to initiate a human factors validation study to support arthroscopically-delivered MACI for the treatment of cartilage defects in the knee.
Vericel CEO Nick Colangelo said, “We now anticipate a potential launch of arthroscopic MACI in 2024, which is several years earlier than if an additional clinical study was required. We believe that the arthroscopic delivery of MACI will be a very attractive option for patients and surgeons, and could provide a substantial upside growth opportunity for MACI.”
The company is off to a fast start in 2023, as well. First-quarter MACI revenues are likely to grow by 20%. Vericel expects 2023 MACI sales between $152 million and $156 million, representing 16.7% growth compared to 2022.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. Orthopedic sales and growth rates are estimated on an as-reported basis.
Orthopedic Sales by Segment
4Q22
4Q21
$ Chg
% Chg
Orthobiologics
$46.4
$37.4
$9.0
24.1%
FY22
FY21
$ Chg
% Chg
Orthobiologics
$132.0
$111.6
$20.4
18.3%
Company Earnings
Amt
% of Sales
Sales
$52.7
Cost of Sales
$14.4
27.4%
General and Admin
$26.9
51.1%
R & D
$5.2
10%
Other
$0.2
0.3%
Net Earnings
$5.9
11.2%
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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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