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OrthoPediatrics Corp. develops and commercializes medical devices for pediatric orthopedics, with products used in trauma and deformity, scoliosis, sports medicine and related procedures. Company news commonly covers quarterly financial results, revenue by product category, domestic and international sales trends, cash-flow metrics and updates to financial guidance.
Recurring product and market updates include specialty bracing, spine and deformity correction systems, implants, instruments and enabling technologies for pediatric care. Announcements also include investor conference participation and portfolio additions such as hospital-based traction systems and other products aimed at children with orthopedic conditions.
OrthoPediatrics Corp. (KIDS) reported a 25% increase in fourth quarter 2022 revenue, reaching $31.0 million, and a record $122.3 million for the full year 2022, also a 25% rise from 2021. The company helped nearly 17,000 children in Q4 and approximately 70,000 children throughout the year. Domestic and international revenues rose by 19% and 47% respectively for the year. Adjusted EBITDA improved to a positive $0.2 million. For 2023, the company expects revenue to be between $146 million to $149 million, anticipating 20% to 22% growth compared to 2022.
OrthoPediatrics Corp. (NASDAQ: KIDS) announced it will release its Q4 and full year 2022 financial results on February 28, 2023, after market close. A conference call to discuss these results is scheduled for March 1, 2023, at 8:00 a.m. ET. The call can be accessed through a live and archived webcast on the company's website. OrthoPediatrics specializes in pediatric orthopedics, offering 46 surgical systems for trauma, scoliosis, and sports medicine, distributing its products in the U.S. and over 70 countries globally.
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OrthoPediatrics Corp. (Nasdaq: KIDS) announced preliminary unaudited net revenue for Q4 2022 at $31.0 million, a 25% increase from $24.8 million in Q4 2021. Full year 2022 net revenue is projected at $122.3 million, up 25% from $98.0 million in 2021. Domestic revenue grew 19% and international revenue increased by 47%. For 2023, the company forecasts net revenue between $146.0 million and $149.0 million, reflecting a growth of 20% to 22%. The report highlighted challenges due to surgery schedule disruptions in children's hospitals due to viral infections but emphasized a strong strategic position.
OrthoPediatrics Corp. (Nasdaq: KIDS) has launched a direct sales organization in Germany, commencing operations on January 1, 2023. This marks its first direct international presence, reflecting a commitment to enhance pediatric orthopedics globally. The new entity, OrthoPediatrics GmbH, aims to better address the unique needs of the German pediatric community, one of Europe’s largest orthopedic markets. The company will continue partnerships with local organizations to support pediatric orthopedic education. OrthoPediatrics offers a comprehensive range of products targeting trauma, deformity correction, and spinal issues.
OrthoPediatrics Corp. (Nasdaq: KIDS) announced its participation as a Double Diamond sponsor at the upcoming IPOS event, taking place from December 6-10, 2022, in Orlando, Florida. This event will feature over 500 pediatric orthopedic surgeons and aims to foster education and networking opportunities. CEO David Bailey expressed excitement about collaborating with surgeon customers to enhance pediatric orthopedic care. Notable events include a pre-course on surgical errors and various spotlight sessions covering pediatric orthopedic techniques.
OrthoPediatrics Corp. (Nasdaq: KIDS) has announced that CEO Dave Bailey and COO/CFO Fred Hite will participate in fireside chats at two upcoming investor conferences. The first event is the Stifel 2022 Healthcare Conference on November 16, 2022, at 9:45 am ET, followed by the Piper 34th Annual Healthcare Conference on November 30, 2022, at 2:30 pm ET. Audio webcasts of these discussions will be available on the company's investor relations website, with replays accessible for 90 days post-event.
OrthoPediatrics focuses exclusively on pediatric orthopedics, offering 46 surgical systems worldwide.
OrthoPediatrics Corp. (KIDS) reported a 39% revenue increase for Q3 2022, reaching $35.0 million, driven by growth in Trauma & Deformity and Scoliosis segments.
Net income soared to $18.5 million, compared to a loss of $2.2 million a year prior. Despite external challenges, including RSV infections affecting case volumes, the company remains optimistic about sustainable growth.
Full-year revenue is projected at $124 million to $125 million, revised from an earlier estimate of $127 million to $130 million.
OrthoPediatrics Corp. (Nasdaq: KIDS) appointed Jimmy D. McDonald to its board of directors, effective October 18, 2022. McDonald, currently the Chief Supply Chain Officer at TE Connectivity, brings extensive experience in procurement and logistics, overseeing a $7.2 billion annual supplier spend. His appointment is expected to enhance OrthoPediatrics' operations, given his background in managing complex supply chains. McDonald expressed his commitment to improving children's lives through orthopedic solutions, aligning with OrthoPediatrics' mission.
OrthoPediatrics Corp. (NASDAQ: KIDS) will release its third quarter 2022 financial results on October 31, 2022, after the market closes. A conference call is scheduled for November 1, 2022, at 8:00 a.m. ET to discuss these results. The company, founded in 2006, focuses on pediatric orthopedics, offering 39 surgical systems across various categories, including trauma, scoliosis, and sports medicine. OrthoPediatrics operates in the U.S. and 70 international markets, aiming to improve pediatric orthopedic care.