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ZimVie reported 3Q22 orthopedic sales of $108.2 million, -16.4% compared to the third quarter of 2021.
The company continued untangling itself from Zimmer Biomet post-spin while exiting certain geographies and product lines. ZimVie declined -7.7% for the quarter when excluding the impact of certain sales retained by Zimmer Biomet, geographic exits, product rationalization and currency headwinds.
One of the company’s strategic priorities is driving growth through portfolio innovation. During the quarter, ZimVie released its Virage Navigation System, which allows the navigation of bone preparation instruments and polyaxial screws with third-party navigation systems on the market. Third-party compatibility supports ZimVie’s goal of being more active in minimally invasive procedures.
Enabling technology demonstrated its ability to generate revenue through system sales and implant pull-through. ZimVie CEO Vafa Jamali said, “Enabling technology remains an area of significant interest to us. And we see a real unmet need and substantial opportunity to drive pull-through of our current core spine portfolio and our differentiated motion preservation solutions. And we hope to provide additional updates here in the future.”
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
| 3Q22 | 3Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $84.4 | $99.6 | ($15.2) | (15.3%) |
| Orthobiologics | $15.1 | $18.4 | ($3.2) | (17.5%) |
| Other (Bone Healing) | $8.7 | $11.4 | ($2.7) | (24%) |
| Total | $108.2 | $129.3 | ($21.1) | (16.4%) |
| 9m22 | 9m21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $263.2 | $313.3 | ($50.1) | (16%) |
| Orthobiologics | $48.4 | $59.0 | ($10.6) | (18%) |
| Other (Bone Healing) | $25.9 | $32.8 | ($7.0) | (21.3%) |
| Total | $337.5 | $405.2 | ($67.7) | (16.7%) |
Orthopedic Sales by Geography
| 3Q22 | 3Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $87.1 | $97.5 | ($10.4) | (10.6%) |
| OUS | $21.0 | $31.8 | ($10.8) | (33.9%) |
| Total | $108.2 | $129.3 | ($21.1) | (16.4%) |
| 9m22 | 9m21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $266.6 | $306.7 | ($40.1) | (13.1%) |
| OUS | $70.9 | $98.5 | ($27.6) | (28%) |
| Total | $337.5 | $405.2 | ($67.7) | (16.7%) |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $213.3 | |
| Cost of Sales | $58.3 | 27.3% |
| Selling and Admin | $129.3 | 60.6% |
| R & D | $14.5 | 6.8% |
| Other | $10.3 | 4.8% |
| Net Earnings | $0.8 | 0.4% |
ZimVie reported 3Q22 orthopedic sales of $108.2 million, -16.4% compared to the third quarter of 2021.
The company continued untangling itself from Zimmer Biomet post-spin while exiting certain geographies and product lines. ZimVie declined -7.7% for the quarter when excluding the impact of certain sales retained by Zimmer Biomet,...
ZimVie reported 3Q22 orthopedic sales of $108.2 million, -16.4% compared to the third quarter of 2021.
The company continued untangling itself from Zimmer Biomet post-spin while exiting certain geographies and product lines. ZimVie declined -7.7% for the quarter when excluding the impact of certain sales retained by Zimmer Biomet, geographic exits, product rationalization and currency headwinds.
One of the company’s strategic priorities is driving growth through portfolio innovation. During the quarter, ZimVie released its Virage Navigation System, which allows the navigation of bone preparation instruments and polyaxial screws with third-party navigation systems on the market. Third-party compatibility supports ZimVie’s goal of being more active in minimally invasive procedures.
Enabling technology demonstrated its ability to generate revenue through system sales and implant pull-through. ZimVie CEO Vafa Jamali said, “Enabling technology remains an area of significant interest to us. And we see a real unmet need and substantial opportunity to drive pull-through of our current core spine portfolio and our differentiated motion preservation solutions. And we hope to provide additional updates here in the future.”
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
| 3Q22 | 3Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $84.4 | $99.6 | ($15.2) | (15.3%) |
| Orthobiologics | $15.1 | $18.4 | ($3.2) | (17.5%) |
| Other (Bone Healing) | $8.7 | $11.4 | ($2.7) | (24%) |
| Total | $108.2 | $129.3 | ($21.1) | (16.4%) |
| 9m22 | 9m21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $263.2 | $313.3 | ($50.1) | (16%) |
| Orthobiologics | $48.4 | $59.0 | ($10.6) | (18%) |
| Other (Bone Healing) | $25.9 | $32.8 | ($7.0) | (21.3%) |
| Total | $337.5 | $405.2 | ($67.7) | (16.7%) |
Orthopedic Sales by Geography
| 3Q22 | 3Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $87.1 | $97.5 | ($10.4) | (10.6%) |
| OUS | $21.0 | $31.8 | ($10.8) | (33.9%) |
| Total | $108.2 | $129.3 | ($21.1) | (16.4%) |
| 9m22 | 9m21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $266.6 | $306.7 | ($40.1) | (13.1%) |
| OUS | $70.9 | $98.5 | ($27.6) | (28%) |
| Total | $337.5 | $405.2 | ($67.7) | (16.7%) |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $213.3 | |
| Cost of Sales | $58.3 | 27.3% |
| Selling and Admin | $129.3 | 60.6% |
| R & D | $14.5 | 6.8% |
| Other | $10.3 | 4.8% |
| Net Earnings | $0.8 | 0.4% |
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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.
