OrthoPediatrics Corp. Reports Third Quarter 2025 Financial Results
OrthoPediatrics (NASDAQ: KIDS) reported third quarter 2025 results for the period ended September 30, 2025, with total revenue $61.2M (up 12% YoY) and adjusted EBITDA $6.2M (up 56% YoY).
U.S. revenue was $48.7M (14% increase) and international revenue was $12.5M (6% increase). Revenue excluding 7D capital sales was $60.7M (up 17% YoY). Trauma & Deformity revenue rose 17% to $44.1M; Scoliosis revenue rose 4% to $16.3M.
GAAP diluted loss per share was $0.50; non-GAAP diluted loss per share was $0.24. Free cash flow usage improved to $3.4M (Q3 2024: $11.6M). Cash and equivalents were $59.8M as of Sept 30, 2025. Company updated full-year 2025 revenue guidance to $233.5M–$234.5M and reiterated adjusted EBITDA target of $15M–$17M.
OrthoPediatrics (NASDAQ: KIDS) ha riportato i risultati del terzo trimestre 2025 per il periodo conclusosi il 30 settembre 2025, con fatturato totale di 61,2 milioni di dollari (in crescita del 12% su base annua) e EBITDA rettificato di 6,2 milioni di dollari (in crescita del 56% su base annua).
Il fatturato negli Stati Uniti è stato di 48,7 milioni di dollari (aumento del 14%) e il fatturato internazionale di 12,5 milioni di dollari (aumento del 6%). Il fatturato esclusi le vendite di capitale 7D è stato di 60,7 milioni di dollari (in crescita del 17% su base annua). Il fatturato Trauma & Deformity è aumentato del 17% a 44,1 milioni di dollari; il fatturato Scoliosi è aumentato del 4% a 16,3 milioni di dollari.
La perdita diluita GAAP per azione è stata 0,50 dollari; la perdita diluita non-GAAP per azione è stata 0,24 dollari. Il flusso di cassa libero utilizzato è migliorato a 3,4 milioni di dollari (Q3 2024: 11,6 milioni). La liquidità e equivalenti erano 59,8 milioni di dollari al 30 settembre 2025. L'azienda ha aggiornato la guidance per l'intero 2025 a 233,5 milioni – 234,5 milioni di dollari di fatturato e ha ribadito l'obiettivo di EBITDA rettificato di 15 – 17 milioni di dollari.
OrthoPediatrics (NASDAQ: KIDS) informó los resultados del tercer trimestre de 2025 para el periodo que terminó el 30 de septiembre de 2025, con ingresos totales de 61,2 millones de dólares (un 12% más vs. año anterior) y EBITDA ajustado de 6,2 millones de dólares (un 56% más vs. año anterior).
Los ingresos en EE. UU. fueron de 48,7 millones de dólares (un aumento del 14%) y los ingresos internacionales fueron de 12,5 millones de dólares (un aumento del 6%). Los ingresos excluyendo ventas de capital 7D fueron de 60,7 millones de dólares (un aumento del 17% interanual). Los ingresos de Trauma & Deformity aumentaron un 17% a 44,1 millones de dólares; los ingresos de Scoliosis aumentaron un 4% a 16,3 millones de dólares.
La pérdida diluida GAAP por acción fue de $0,50; la pérdida diluida no-GAAP por acción fue de $0,24. El uso de flujo de caja libre mejoró a $3,4 millones (Q3 2024: $11,6 millones). La caja y equivalentes fue de $59,8 millones al 30 de septiembre de 2025. La empresa actualizó la guía de ingresos para 2025 a $233,5M–$234,5M y reiteró el objetivo de EBITDA ajustado de $15M–$17M.
OrthoPediatrics (NASDAQ: KIDS) 는 2025년 9월 30일 종료된 기간에 대한 2025년 3분기 실적을 발표했습니다. 총 매출 6120만 달러 (전년동기 대비 12% 증가) 및 조정 EBITDA 620만 달러 (전년동기 대비 56% 증가).
미국 매출은 4870만 달러 (2... 14% 증가) 및 국제 매출은 1250만 달러 (6% 증가). 7D 자본 매출 제외 매출은 6070만 달러 (전년동기 대비 17% 증가). Trauma & Deformity 매출은 17% 증가한 4410만 달러; 척추측만증 매출은 4% 증가한 1630만 달러.
GAAP 희석 주당손실은 $0.50; 비-GAAP 희석 주당손실은 $0.24. 자유현금흐름 사용은 $3.4M으로 개선되었습니다(Q3 2024: $11.6M). 2025년 9월 30일 기준 현금 및 현금성자산은 $59.8M였으며 회사는 2025년 전체 실적 가이드를 $233.5M–$234.5M로 업데이트했고 조정 EBITDA 목표는 $15M–$17M를 재확인했습니다.
OrthoPediatrics (NASDAQ : KIDS) a publié les résultats du troisième trimestre 2025 pour la période se terminant le 30 septembre 2025, avec un chiffre d'affaires total de 61,2 millions de dollars (en hausse de 12 % sur un an) et un EBITDA ajusté de 6,2 millions de dollars (en hausse de 56 % sur un an).
Le chiffre d'affaires aux États-Unis était de 48,7 millions de dollars (augmentation de 14 %) et le chiffre d'affaires international de 12,5 millions de dollars (augmentation de 6 %). Le chiffre d'affaires hors ventes de capital 7D était de 60,7 millions de dollars (en hausse de 17 % sur un an). Le chiffre d'affaires Trauma & Deformity a augmenté de 17 % pour atteindre 44,1 millions de dollars; le chiffre d'affaires Scoliosis a augmenté de 4 % pour atteindre 16,3 millions de dollars.
La perte diluée GAAP par action était de $0,50; la perte diluée non-GAAP par action était de $0,24. Le flux de trésorerie libre utilisé s'est amélioré à $3,4 millions (T3 2024 : 11,6 millions). La trésorerie et équivalents s'élevait à $59,8 millions au 30 septembre 2025. La société a révisé ses prévisions de chiffre d'affaires pour 2025 à $233,5M–$234,5M et a réitéré l'objectif d'EBITDA ajusté à $15M–$17M.
OrthoPediatrics (NASDAQ: KIDS) meldete die Ergebnisse des dritten Quartals 2025 für den Zeitraum bis zum 30. September 2025, mit einem Gesamtumsatz von 61,2 Mio. USD (YoY +12%) und angepasstem EBITDA von 6,2 Mio. USD (YoY +56%).
US-Umsatz war 48,7 Mio. USD (+14%) und internationaler Umsatz 12,5 Mio. USD (+6%). Umsatz ohne 7D-Kapitalverkäufe betrug 60,7 Mio. USD (YoY +17%). Trauma & Deformity-Umsatz stieg um 17% auf 44,1 Mio. USD; Scoliosis-Umsatz stieg um 4% auf 16,3 Mio. USD.
GAAP verdünnte Verlust je Aktie betrug 0,50 USD; non-GAAP verdünnte Verlust je Aktie betrug 0,24 USD. Freier Cashflow-Verwendung verbesserte sich auf 3,4 Mio. USD (Q3 2024: 11,6 Mio.). Barmittel und Äquivalente beliefen sich zum 30. Sept. 2025 auf 59,8 Mio. USD. Das Unternehmen hat die Umsatzprognose für das Gesamtjahr 2025 auf 233,5 Mio. USD – 234,5 Mio. USD aktualisiert und das Ziel für angepasstes EBITDA von 15 Mio. USD – 17 Mio. USD bekräftigt.
OrthoPediatrics (بورصة ناسداك: KIDS) أصدرت نتائج الربع الثالث من عام 2025 للفترة المنتهية في 30 سبتمبر 2025، مع إجمالي إيرادات 61.2 مليون دولار (بنمو 12% على أساس سنوي) وEBITDA المعدل 6.2 مليون دولار (بنمو 56% على أساس سنوي).
بلغت الإيرادات الأمريكية 48.7 مليون دولار (+14%) والإيرادات الدولية 12.5 مليون دولار (+6%). كانت الإيرادات باستثناء مبيعات رأس المال من 7D هي 60.7 مليون دولار (بنمو 17% على أساس سنوي). ارتفع إيراد Trauma & Deformity بنسبة 17% ليصل إلى 44.1 مليون دولار؛ وارتفع إيراد Scoliosis بنسبة 4% ليصل إلى 16.3 مليون دولار.
بلغت خسارة السهم المخفّفة بموجب مبادئ GAAP $0.50؛ والخسارة المخففة غيرGAAP للسهم $0.24. تحسن استخدام التدفق النقدي الحر إلى $3.4M (3T 2024: $11.6M). كانت السيولة النقدية وما يعادلها $59.8M حتى 30 سبتمبر 2025. حدّثت الشركة توجيهات الإيرادات للسنة الكاملة 2025 إلى $233.5M–$234.5M وأكّدت هدف EBITDA المعدل بين $15M–$17M.
OrthoPediatrics (NASDAQ: KIDS) 报告了2025年第三季度业绩,期末日期为2025年9月30日,总收入为6120万美元(同比增长12%)且 调整后的EBITDA为620万美元(同比增长56%)。
美国收入为4870万美元(增长14%),国际收入为1250万美元(增长6%)。剔除7D资本销售的收入为6070万美元(同比增长17%)。Trauma & Deformity 收入上涨17%至4410万美元;Scoliosis 收入上涨4%至1630万美元。
GAAP摊薄每股亏损为$0.50;非GAAP摊薄每股亏损为$0.24。自由现金流使用改善至$3.4M(Q3 2024:$11.6M)。截至2025年9月30日现金及等价物为$59.8M。公司将2025年全年收入指引更新为$233.5M–$234.5M,并重申调整后EBITDA目标为$15M–$17M。
- Total revenue +12% YoY to $61.2M
- Adjusted EBITDA +56% YoY to $6.2M
- Revenue excluding 7D capital sales +17% YoY to $60.7M
- Free cash flow usage improved by $8.2M YoY to $3.4M
- GAAP diluted loss per share widened to $0.50 from $0.34
- Total operating expenses +20% YoY to $54.7M
- Intangible asset impairment and restructuring charges of $2.3M each in Q3
Insights
OrthoPediatrics shows healthy top-line and adjusted-margin improvement, but GAAP losses and impairments keep the net picture mixed.
OrthoPediatrics delivered record third quarter total revenue of
The company recorded larger GAAP net loss of
Watch near term for quarterly cash burn and trend in GAAP profitability alongside the pledged path to free cash flow break‑even in
Increased Third Quarter 2025 Revenue
WARSAW, Ind., Oct. 28, 2025 (GLOBE NEWSWIRE) -- OrthoPediatrics Corp. (“OrthoPediatrics” or the “Company”) (Nasdaq: KIDS), a company focused exclusively on advancing the field of pediatric orthopedics, today announced its financial results for the third quarter ended September 30, 2025.
Third Quarter 2025 and Recent Business Highlights
- Helped over 37,000 children in the third quarter of 2025 and approximately 1.3 million children to date
- Generated new record high total revenue of
$61.2 million for the third quarter of 2025, up12% from$54.6 million in third quarter 2024; domestic revenue increased14% and international revenue increased6% in the quarter - Generated total revenue excluding 7D capital sales of
$60.7 million for the third quarter of 2025, up17% from$51.8 million in the third quarter 2024. Domestic total revenue excluding 7D capital sales of$48.2 million for the third quarter of 2025, up19% from$40.5 million in the prior year period - Grew worldwide Trauma & Deformity revenue
17% and worldwide Scoliosis revenue4% in the third quarter of 2025 compared to the third quarter of 2024 - Increased adjusted EBITDA by
56% to$6.2 million in the third quarter of 2025, compared to$4.0 million in the third quarter of 2024 - Free cash flow usage in the third quarter of 2025 was
$3.4 million , an improvement of$8.2 million compared to$11.6 million in the third quarter of 2024 - Reported GAAP diluted loss per share of
$(0.50) in the third quarter of 2025, compared to$(0.34) in the third quarter of 2024. Reported non-GAAP diluted loss per share of$(0.24) in the third quarter of 2025, compared to$(0.18) in the third quarter of 2024 - Completed first procedures with VerteGlide™ Spinal Growth Guidance System
- Received FDA approval for 3P™ Pediatric Plating Platform™ Small-Mini System, the second of several systems in the 3P family
- Full year 2025 revenue guidance now reflects a range of
$233.5 million to$234.5 million , representing growth of14% to15% compared to prior year
David Bailey, President & CEO of OrthoPediatrics, commented "We are proud of the company’s overall third quarter performance. Although, 7D and Latin and South America did not meet our expectations, OrthoPediatrics continues to lead the pediatric orthopedic market by delivering comprehensive solutions that advance the care of children worldwide. Our focus remains on strong execution of our strategic initiatives including scaling OPSB, leveraging prior set deployments, and introducing innovative new products. We are confident this approach will drive revenue growth, increase adjusted EBITDA, and meaningfully reduce cash burn as we move toward achieving free cash flow break-even in 2026. Ultimately, we believe our strategy positions OrthoPediatrics to help more children than ever before."
Third Quarter 2025 Financial Results
Total revenue for the third quarter of 2025 was
Trauma and Deformity revenue for the third quarter of 2025 was
Gross profit for the third quarter of 2025 was
Total operating expenses for the third quarter of 2025 were
Sales and marketing expenses increased
Research and development expenses decreased
General and administrative expenses increased
Intangible asset impairment recorded during the third quarter of 2025 was
Restructuring charges recorded during the third quarter of 2025 was
Total other expense of
Net loss for the third quarter of 2025 was
Adjusted EBITDA for the third quarter of 2025 was
Weighted average basic and diluted shares outstanding for the three months ended September 30, 2025, was 23,565,779 shares.
As of September 30, 2025, cash, cash equivalents, short-term investments and restricted cash were
Full Year 2025 Financial Guidance
For the full year of 2025, the Company's revenue guidance now reflects a range of
Conference Call
OrthoPediatrics will host a conference call on Tuesday, October 28, 2025, at 4:30 p.m. ET to discuss the results. Investors interested in listening to the conference call may do so by accessing a live and archived webcast of the event at www.orthopediatrics.com, on the Investors page in the Events & Presentations section. The webcast will be available for replay for at least 90 days after the event.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of U.S. federal securities laws. You can identify forward-looking statements by the use of words such as "may," "might," "will," "should," "expect," "plan," "anticipate," "could," "believe," "estimate," "project," "target," "predict," "intend," "future," "goals," "potential,” "objective," "would" and other similar expressions. Forward-looking statements involve risks and uncertainties, many of which are beyond OrthoPediatrics’ control. Important factors could cause actual results to differ materially from those in the forward-looking statements, including, among others: the risks related to widespread health emergencies, such as COVID-19 and respiratory syncytial virus, the impact such pandemics, epidemics and infectious disease outbreaks may have on the demand for our products, and our ability to respond to the related challenges; and the risks, uncertainties and factors set forth under "Risk Factors" in OrthoPediatrics’ Annual Report on Form 10-K filed with the SEC on March 5, 2025, as updated and supplemented by our other SEC reports filed from time to time. Forward-looking statements speak only as of the date they are made. OrthoPediatrics assumes no obligation to update forward looking statements to reflect actual results, subsequent events, or circumstances or other changes affecting such statements except to the extent required by applicable securities laws.
Use of Non-GAAP Financial Measures
This press release includes certain non-GAAP financial, measures, such as adjusted diluted (loss) earnings per share and Adjusted EBITDA, which differ from financial measures calculated in accordance with U.S. generally accepted accounting principles (“GAAP”). Adjusted loss per share in this press release represents diluted loss per share on a GAAP basis, plus, intangible asset impairment, restructuring charges, tariff cost, European Union Medical Device Regulation fees increase, acquisition related costs, loss on early extinguishment of debt, and minimum purchase commitment costs. We believe that providing the non-GAAP diluted loss per share excluding these expenses, as well as the GAAP measures, assists our investors because such expenses are not reflective of our ongoing operating results. Adjusted EBITDA in this release represents net loss, plus interest expense, net plus other expense (income), income tax (benefit) charge, depreciation and amortization, stock-based compensation expense, intangible asset impairment, restructuring charges, tariff costs, European Union Medical Device Regulation fees increase, acquisition related costs, loss on early extinguishment of debt, and the cost of minimum purchase commitments. The Company believes the non-GAAP measures provided in this earnings release enable it to further and more consistently analyze the period-to-period financial performance of its core business operating performance. Management uses these metrics as a measure of the Company’s operating performance and for planning purposes, including financial projections. The Company believes these measures are useful to investors as supplemental information because they are frequently used by analysts, investors and other interested parties to evaluate companies in its industry. Adjusted EBITDA is a non-GAAP financial measure and should not be considered as an alternative to, or superior to, net income or loss as a measure of financial performance or cash flows from operations as a measure of liquidity, or any other performance measure derived in accordance with GAAP, and it should not be construed to imply that the Company’s future results will be unaffected by unusual or non-recurring items. In addition, the measure is not intended to be a measure of free cash flow for management’s discretionary use, as it does not reflect certain cash requirements such as debt service requirements, capital expenditures and other cash costs that may recur in the future. Adjusted EBITDA contains certain other limitations, including the failure to reflect our cash expenditures, cash requirements for working capital needs and other potential cash requirements. In evaluating these non-GAAP measures, you should be aware that in the future the Company may incur expenses that are the same or similar to some of the adjustments in this presentation. The Company’s presentation of non-GAAP diluted loss per share or Adjusted EBITDA should not be construed to imply that its future results will be unaffected by any such adjustments. Management compensates for these limitations by primarily relying on the Company’s GAAP results in addition to using these adjusted measures on a supplemental basis. The Company’s definition of these measures is not necessarily comparable to other similarly titled captions of other companies due to different methods of calculation. The schedules below contain reconciliations of GAAP diluted loss per share to non-GAAP diluted loss per share and net loss to non-GAAP Adjusted EBITDA.
About OrthoPediatrics Corp.
Founded in 2006, OrthoPediatrics is an orthopedic company focused exclusively on advancing the field of pediatric orthopedics. As such it has developed the most comprehensive product offering to the pediatric orthopedic market to improve the lives of children with orthopedic conditions. OrthoPediatrics currently markets 82 systems that serve three of the largest categories within the pediatric orthopedic market. This product offering spans trauma and deformity, scoliosis, and sports medicine/other procedures. OrthoPediatrics’ global sales organization is focused exclusively on pediatric orthopedics and distributes its products in the United States and over 75 countries outside the United States. For more information, please visit www.orthopediatrics.com.
Investor Contact
Philip Trip Taylor
Gilmartin Group
philip@gilmartinir.com
415-937-5406
ORTHOPEDIATRICS CORP.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited) (In Thousands, Except Share Data)
| September 30, 2025 | December 31, 2024 | ||||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash | $ | 16,826 | $ | 43,820 | |||
| Restricted cash | 2,058 | 1,957 | |||||
| Short-term investments | 40,902 | 25,013 | |||||
| Accounts receivable - trade, net of allowances of | 51,274 | 42,357 | |||||
| Inventories, net | 128,807 | 117,005 | |||||
| Prepaid expenses and other current assets | 5,985 | 7,021 | |||||
| Total current assets | 245,852 | 237,173 | |||||
| Property and equipment, net | 51,204 | 50,596 | |||||
| Other assets: | |||||||
| Amortizable intangible assets, net | 63,262 | 64,427 | |||||
| Goodwill | 103,613 | 93,844 | |||||
| Other intangible assets | 15,941 | 16,752 | |||||
| Other non-current assets | 13,614 | 10,417 | |||||
| Total other assets | 196,430 | 185,440 | |||||
| Total assets | $ | 493,486 | $ | 473,209 | |||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||
| Current liabilities: | |||||||
| Accounts payable - trade | $ | 7,164 | $ | 8,908 | |||
| Accrued compensation and benefits | 13,821 | 13,888 | |||||
| Current portion of long-term debt with affiliate | 166 | 160 | |||||
| Current portion of acquisition installment payable | 1,181 | 1,347 | |||||
| Other current liabilities | 10,900 | 9,659 | |||||
| Total current liabilities | 33,232 | 33,962 | |||||
| Long-term liabilities: | |||||||
| Long-term loan | 48,065 | 23,957 | |||||
| Long-term convertible note | 48,327 | 47,913 | |||||
| Long-term debt with affiliate, net of current portion | 326 | 451 | |||||
| Other long-term debt, net of current portion | 2,456 | 635 | |||||
| Acquisition installment payable, net of current portion | 227 | 2,452 | |||||
| Deferred income taxes | 3,804 | 3,381 | |||||
| Other long-term liabilities | 7,740 | 5,892 | |||||
| Total long-term liabilities | 110,945 | 84,681 | |||||
| Total liabilities | 144,177 | 118,643 | |||||
| Stockholders' equity: | |||||||
| Common stock, | 6 | 6 | |||||
| Additional paid-in capital | 618,041 | 600,897 | |||||
| Accumulated deficit | (265,109) | (235,564) | |||||
| Accumulated other comprehensive loss | (3,629) | (10,773) | |||||
| Total stockholders' equity | 349,309 | 354,566 | |||||
| Total liabilities and stockholders' equity | $ | 493,486 | $ | 473,209 | |||
ORTHOPEDIATRICS CORP.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(In Thousands, Except Share and Per Share Data)
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Net revenue | $ | 61,250 | $ | 54,573 | $ | 174,743 | $ | 152,060 | |||||||
| Cost of revenue | 15,976 | 14,513 | 47,188 | 39,027 | |||||||||||
| Gross profit | 45,274 | 40,060 | 127,555 | 113,033 | |||||||||||
| Operating expenses: | |||||||||||||||
| Sales and marketing | 18,652 | 16,750 | 54,327 | 47,512 | |||||||||||
| General and administrative | 29,155 | 26,299 | 89,878 | 78,358 | |||||||||||
| Intangible asset impairment | 2,268 | — | 2,268 | — | |||||||||||
| Restructuring | 2,294 | — | 5,305 | — | |||||||||||
| Research and development | 2,333 | 2,577 | 6,843 | 8,118 | |||||||||||
| Total operating expenses | 54,702 | 45,626 | 158,621 | 133,988 | |||||||||||
| Operating loss | (9,428) | (5,566) | (31,066) | (20,955) | |||||||||||
| Other expense (income): | |||||||||||||||
| Interest expense, net | 1,822 | 404 | 4,064 | 1,302 | |||||||||||
| Loss on early extinguishment of debt | — | 3,230 | — | 3,230 | |||||||||||
| Other expense (income) | 648 | (63) | (5,705) | 33 | |||||||||||
| Total other expense (income), net | 2,470 | 3,571 | (1,641) | 4,565 | |||||||||||
| Net loss before income taxes | $ | (11,898) | $ | (9,137) | $ | (29,425) | $ | (25,520) | |||||||
| Income tax charge (benefit) | (125) | (1,218) | 120 | (3,767) | |||||||||||
| Net loss | $ | (11,773) | $ | (7,919) | $ | (29,545) | $ | (21,753) | |||||||
| Weighted average common stock - basic and diluted | 23,565,779 | 23,171,249 | 23,420,158 | 23,046,155 | |||||||||||
| Net loss per share – basic and diluted | $ | (0.50) | $ | (0.34) | $ | (1.26) | $ | (0.94) | |||||||
ORTHOPEDIATRICS CORP.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)(In Thousands)
| Nine Months Ended September 30, | |||||||
| 2025 | 2024 | ||||||
| OPERATING ACTIVITIES | |||||||
| Net loss | $ | (29,545) | $ | (21,753) | |||
| Adjustments to reconcile net loss to net cash used in operating activities: | |||||||
| Goodwill and other intangible asset impairment | 4,163 | — | |||||
| Depreciation and amortization | 15,517 | 15,087 | |||||
| Stock-based compensation | 13,362 | 9,660 | |||||
| Loss on early extinguishment of debt | — | 3,230 | |||||
| Accretion of acquisition installment payable | 105 | 599 | |||||
| Deferred income taxes | 120 | (3,907) | |||||
| Non-cash other | (88) | — | |||||
| Changes in certain current assets and liabilities: | |||||||
| Accounts receivable - trade | (8,270) | (5,178) | |||||
| Inventories | (7,893) | (14,154) | |||||
| Prepaid expenses and other current assets | 176 | (2,134) | |||||
| Accounts payable - trade | (1,961) | (1,768) | |||||
| Accrued expenses and other liabilities | 790 | 308 | |||||
| Other | (1,675) | (3,051) | |||||
| Net cash used in operating activities | (15,199) | (23,061) | |||||
| INVESTING ACTIVITIES | |||||||
| Acquisition of Boston O&P, net of cash acquired | — | (20,225) | |||||
| Acquisitions, net of cash acquired | (8,852) | (475) | |||||
| Sale of short-term marketable securities | — | 49,855 | |||||
| Investment in private companies | (2,007) | (380) | |||||
| Purchase of short-term marketable securities | (15,000) | (25,000) | |||||
| Purchases of property and equipment | (10,511) | (14,525) | |||||
| Net cash used in investing activities | (36,370) | (10,750) | |||||
| FINANCING ACTIVITIES | |||||||
| Proceeds from issuance of debt | 25,000 | 73,533 | |||||
| Payments on mortgage notes | (119) | (113) | |||||
| Payment of debt issuance costs | — | (3,085) | |||||
| Payment on debt | — | (12,231) | |||||
| Installment payment for ApiFix | — | (2,250) | |||||
| Installment payment for MedTech | — | (1,250) | |||||
| Payments on clinic acquisition notes | (489) | (928) | |||||
| Net cash provided by financing activities | 24,392 | 53,676 | |||||
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 284 | 153 | |||||
| NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | (26,893) | 20,018 | |||||
| Cash, cash equivalents and restricted cash, beginning of period | $ | 45,777 | $ | 33,027 | |||
| Cash, cash equivalents and restricted cash, end of period | $ | 18,884 | $ | 53,045 | |||
| Nine Months Ended September 30, | |||||||
| 2025 | 2024 | ||||||
| SUPPLEMENTAL DISCLOSURES | |||||||
| Cash paid for interest | $ | 4,562 | $ | 1,381 | |||
| Transfer of instruments from property and equipment and inventory | $ | 1,881 | $ | 966 | |||
| Issuance of common shares for ApiFix installment | $ | — | $ | 6,929 | |||
| Issuance of common shares for MedTech installment | $ | 226 | $ | 133 | |||
| Issuance of common shares to settle an obligation with a vendor | $ | 1,261 | $ | — | |||
| Right-of-use assets obtained in exchange for lease liabilities | $ | 4,812 | $ | 3,220 | |||
| Issuance of common shares in connection with Boston O&P acquisition | $ | 233 | $ | — | |||
| Capital contribution associated with reclassification of MedTech liability to equity | $ | 2,062 | $ | — | |||
| Debt issuance costs not yet paid | $ | — | $ | 260 | |||
ORTHOPEDIATRICS CORP.
NET REVENUE BY GEOGRAPHY AND PRODUCT CATEGORY
(Unaudited)
(In Thousands)
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||
| Product sales by geographic location: | 2025 | 2024 | 2025 | 2024 | |||||||
| U.S. | $ | 48,718 | $ | 42,714 | $ | 137,757 | $ | 118,269 | |||
| International | 12,532 | 11,859 | 36,986 | 33,791 | |||||||
| Total | $ | 61,250 | $ | 54,573 | $ | 174,743 | $ | 152,060 | |||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||
| Product sales by category: | 2025 | 2024 | 2025 | 2024 | |||||||
| Trauma and deformity | $ | 44,143 | $ | 37,642 | $ | 123,665 | $ | 108,715 | |||
| Scoliosis | 16,261 | 15,635 | 48,447 | 39,521 | |||||||
| Sports medicine/other | 846 | 1,296 | 2,631 | 3,824 | |||||||
| Total | $ | 61,250 | $ | 54,573 | $ | 174,743 | $ | 152,060 | |||
ORTHOPEDIATRICS CORP.
RECONCILIATION OF NET LOSS TO NON-GAAP ADJUSTED EBITDA
(Unaudited)
(In Thousands)
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Net loss | $ | (11,773) | $ | (7,919) | $ | (29,545) | $ | (21,753) | |||||||
| Interest expense, net | 1,822 | 404 | 4,064 | 1,302 | |||||||||||
| Other expense (income) | 648 | (63) | (5,705) | 33 | |||||||||||
| Income tax (benefit) charge | (125) | (1,218) | 120 | (3,767) | |||||||||||
| Depreciation and amortization | 5,299 | 5,280 | 15,517 | 15,087 | |||||||||||
| Intangible asset impairment | 2,268 | — | 2,268 | — | |||||||||||
| Stock-based compensation | 4,251 | 3,922 | 13,362 | 9,660 | |||||||||||
| Restructuring charges | 2,294 | — | 5,305 | — | |||||||||||
| Tariff cost | 306 | — | 954 | — | |||||||||||
| European Union Medical Device Regulation fees increase | — | — | 109 | — | |||||||||||
| Acquisition related costs | 943 | 117 | 2,532 | 504 | |||||||||||
| Loss on early extinguishment of debt | — | 3,230 | — | 3,230 | |||||||||||
| Minimum purchase commitment cost | 261 | 224 | 960 | 1,200 | |||||||||||
| Adjusted EBITDA | $ | 6,194 | $ | 3,977 | $ | 9,941 | $ | 5,496 | |||||||
ORTHOPEDIATRICS CORP.
RECONCILIATION OF DILUTED LOSS PER SHARE TO NON-GAAP ADJUSTED DILUTED LOSS PER SHARE
(Unaudited)
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Loss per share, diluted (GAAP) | $ | (0.50) | $ | (0.34) | $ | (1.26) | $ | (0.94) | |||||||
| Intangible asset impairment | 0.10 | — | 0.10 | — | |||||||||||
| Restructuring charges | 0.10 | — | 0.23 | — | |||||||||||
| Tariff cost | 0.01 | — | 0.04 | — | |||||||||||
| European Union Medical Device Regulation fees increase | — | — | — | — | |||||||||||
| Acquisition related costs | 0.04 | 0.01 | 0.11 | 0.02 | |||||||||||
| Loss on early extinguishment of debt | — | 0.14 | — | 0.14 | |||||||||||
| Minimum purchase commitment cost | 0.01 | 0.01 | 0.04 | 0.05 | |||||||||||
| Loss per share, diluted (non-GAAP) | $ | (0.24) | $ | (0.18) | $ | (0.74) | $ | (0.73) | |||||||