Vericel reported 3Q20 orthopedic revenue of USD $24.4 million, +18.2% vs. 3Q19. With 95% of its procedure backlog complete, the company’s MACI revenue exceeded expectations in the third quarter. All of Vericel’s internal metrics for MACI trended positively, with number of surgeons and number of biopsies both increasing while biopsy conversion rates remain within historical ranges. The company logged a record number of biopsies in September, giving leadership confidence that MACI revenue will take a sequential step up in the fourth quarter.
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
3Q20
3Q19
$ Chg
% Chg
Orthobiologics
$24.4
$20.6
$3.7
18.2%
9mo20
9mo19
$ Chg
% Chg
Orthobiologics
$59.8
$58.0
$1.7
3%
Earnings
Amt
% of Sales
Sales
$32.3
Cost of Sales
$9.8
30.3%
General and Admin
$16.0
49.7%
R & D
$0.0
0%
Other
($0.1)
(0.3%)
Net Earnings
$3.6
11.2%
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
Vericel reported 3Q20 orthopedic revenue of USD $24.4 million, +18.2% vs. 3Q19. With 95% of its procedure backlog complete, the company’s MACI revenue exceeded expectations in the third quarter. All of Vericel’s internal metrics for MACI trended positively, with number of surgeons and number of biopsies both increasing while biopsy conversion...
Vericel reported 3Q20 orthopedic revenue of USD $24.4 million, +18.2% vs. 3Q19. With 95% of its procedure backlog complete, the company’s MACI revenue exceeded expectations in the third quarter. All of Vericel’s internal metrics for MACI trended positively, with number of surgeons and number of biopsies both increasing while biopsy conversion rates remain within historical ranges. The company logged a record number of biopsies in September, giving leadership confidence that MACI revenue will take a sequential step up in the fourth quarter.
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
3Q20
3Q19
$ Chg
% Chg
Orthobiologics
$24.4
$20.6
$3.7
18.2%
9mo20
9mo19
$ Chg
% Chg
Orthobiologics
$59.8
$58.0
$1.7
3%
Earnings
Amt
% of Sales
Sales
$32.3
Cost of Sales
$9.8
30.3%
General and Admin
$16.0
49.7%
R & D
$0.0
0%
Other
($0.1)
(0.3%)
Net Earnings
$3.6
11.2%
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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