WEST CHESTER, PA — Centinel Spine®, LLC, a leader in the spine industry, announced record revenue for the second quarter of 2024. This achievement surpasses the company’s previous record set in the first quarter of 2024.
Centinel Spine is the fastest-growing company in the spine sector, focusing exclusively on total disc replacement, a rapidly expanding segment in orthopedic implants. The company also reported a record EBITDA for Q2 2024, marking its fifth consecutive quarter of positive adjusted EBITDA.
Key highlights from the second quarter include:
- Record worldwide revenue of $22.1 million for the prodisc TDR, a 26% year-over-year increase.
- Record worldwide revenue of $14.6 million for the prodisc Cervical, up 32% year-over-year.
- Record U.S. revenue for the prodisc Cervical, showing a 42% year-over-year growth.
- An increase in the U.S. prodisc total surgeon user-base to nearly 600 surgeons, a 40% year-over-year growth and a 10% sequential quarterly increase. This marks the eighth consecutive quarter of surgeon user growth.
The company’s new Match-the-Disc™ prodisc C Vivo & prodisc C SK Cervical System also saw significant milestones:
- Nearly 7,000 procedures have been performed since its limited U.S. release in Q3 2022.
- Record revenue growth of 67% and 100% year-over-year for prodisc C Vivo and prodisc C SK, respectively, in Q2 2024.
- A 140% year-over-year increase in the number of surgeons using the new system, with almost 20% sequential quarterly growth.
- Over 75% of the nearly 700 surgeons who have used the new system are repeat users, with many switching from competitors.
“The second quarter represents another record performance for Centinel Spine,” said CEO Steve Murray. “These results demonstrate the continued strength behind our prodisc cervical and lumbar business in the rapidly expanding Total Disc Replacement market, worldwide. The prodisc portfolio leads the Total Disc Replacement market in growth and has a long history of reliability and long-term performance. The new prodisc C Vivo and prodisc C SK cervical system continues to excel, as exhibited by a rapidly expanding user base, record new users for the quarter, and strong repeat usage performance.”
Centinel Spine’s financial success in Q2 2024 reflects its strategic focus and robust product portfolio, positioning the company for ongoing growth in the dynamic field of total disc replacement.
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