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Vericel reported 2Q24 orthopedic sales of $44.1 million, up 21.5% from the second quarter of 2023. For the year’s first half, the company generated $84.3 million in orthopedic sales, up 19.6% from last year.
The company set a second-quarter record for MACI sales and saw the second-highest number of MACI biopsies, including the highest single month since its launch. Biopsies are a leading indicator of future sales, and Vericel’s growing surgeon base is creating more experienced users with higher conversion rates.
“We saw a significant increase in biopsies per surgeon during the second quarter, which helped to drive an acceleration in biopsy growth in the quarter,” said Vericel CEO Nick Colangelo. “We also saw an uptick in the conversion rate versus the prior year, as there’s a direct correlation between surgeon experience with MACI and higher conversion rates.”
Pending FDA clearance, Vericel plans to expand MACI’s label in the third quarter to include arthroscopic delivery. The move could greatly expand MACI’s target addressable market, but the company views MACI Arthro as a drive for 2025 and beyond.
The company now expects MACI sales to grow 20% in 2024 to a total of approximately $198 million.
Orthopedic Sales Data
Unless otherwise noted, all orthopedic sales data is provided in USD millions. We estimate orthopedic sales and growth rates on an as-reported basis.
Orthopedic Sales by Segment
| Segment | 2Q24 | 2Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| Sports Medicine | $44.1 | $36.3 | $7.8 | 21.5% |
| Segment | 1H23 | 1H22 | $ Chg | % Chg |
|---|---|---|---|---|
| Sports Medicine | $84.3 | $70.5 | $13.8 | 19.6% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $52.7 | |
| Cost of Sales | $16.1 | 30.5% |
| General and Admin | $35.3 | 67% |
| R & D | $7.4 | 14% |
| Other | ($1.3) | (2.6%) |
| Net Earnings | ($4.7) | (8.9%) |
Vericel reported 2Q24 orthopedic sales of $44.1 million, up 21.5% from the second quarter of 2023. For the year's first half, the company generated $84.3 million in orthopedic sales, up 19.6% from last year.
The company set a second-quarter record for MACI sales and saw the second-highest number of MACI biopsies, including the highest...
Vericel reported 2Q24 orthopedic sales of $44.1 million, up 21.5% from the second quarter of 2023. For the year’s first half, the company generated $84.3 million in orthopedic sales, up 19.6% from last year.
The company set a second-quarter record for MACI sales and saw the second-highest number of MACI biopsies, including the highest single month since its launch. Biopsies are a leading indicator of future sales, and Vericel’s growing surgeon base is creating more experienced users with higher conversion rates.
“We saw a significant increase in biopsies per surgeon during the second quarter, which helped to drive an acceleration in biopsy growth in the quarter,” said Vericel CEO Nick Colangelo. “We also saw an uptick in the conversion rate versus the prior year, as there’s a direct correlation between surgeon experience with MACI and higher conversion rates.”
Pending FDA clearance, Vericel plans to expand MACI’s label in the third quarter to include arthroscopic delivery. The move could greatly expand MACI’s target addressable market, but the company views MACI Arthro as a drive for 2025 and beyond.
The company now expects MACI sales to grow 20% in 2024 to a total of approximately $198 million.
Orthopedic Sales Data
Unless otherwise noted, all orthopedic sales data is provided in USD millions. We estimate orthopedic sales and growth rates on an as-reported basis.
Orthopedic Sales by Segment
| Segment | 2Q24 | 2Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| Sports Medicine | $44.1 | $36.3 | $7.8 | 21.5% |
| Segment | 1H23 | 1H22 | $ Chg | % Chg |
|---|---|---|---|---|
| Sports Medicine | $84.3 | $70.5 | $13.8 | 19.6% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $52.7 | |
| Cost of Sales | $16.1 | 30.5% |
| General and Admin | $35.3 | 67% |
| R & D | $7.4 | 14% |
| Other | ($1.3) | (2.6%) |
| Net Earnings | ($4.7) | (8.9%) |
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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.
