Orthopedia Stock Price, News & Analysis

OrthoPediatrics Corp. (Nasdaq: KIDS) announced participation in the 5th Annual Needham Virtual Med Tech 1x1 Conference. CEO Mark Throdahl, COO Fred Hite, and President Dave Bailey will host virtual investor meetings on August 17, 2020. Interested investors can schedule one-on-one calls by contacting their Needham representative or Emma Poalillo at The Ruth Group.

Founded in 2006, OrthoPediatrics focuses on pediatric orthopedics, offering 35 surgical systems across trauma, scoliosis, and sports medicine categories. The company operates globally, serving the U.S. and 43 countries.

OrthoPediatrics Corp. (Nasdaq: KIDS) reported a 25.3% decline in total revenue for the second quarter of 2020, amounting to $13.6 million, largely due to the effects of the COVID-19 pandemic. U.S. revenue decreased by 12.3% to $12.1 million, while international revenue plummeted 66.8% to $1.4 million. Despite challenges, the company initiated the U.S. launch of the ApiFix system and expanded its sales team by 7.9%. Operating loss increased to ($7.0 million), compared to ($1.8 million) last year, while net loss was ($9.4 million), leading to a net loss per share of ($0.54).

OrthoPediatrics Corp. (Nasdaq: KIDS) has achieved a milestone by completing its 500th case using the FIREFLY® Pedicle Screw Navigation Guides in collaboration with Mighty Oak Medical. This technology enhances surgical efficiency and patient safety by utilizing AI for presurgical planning. It reduces intraoperative radiation and speeds up screw placement, making it a cost-effective alternative to traditional navigation systems. The technology is designed specifically for pediatric orthopedic surgeries, aiming to improve outcomes for children with scoliosis and spinal deformities.

OrthoPediatrics Corp. (NASDAQ: KIDS) will announce its second quarter 2020 financial results on August 5, 2020, post-market. The company focuses on pediatric orthopedics and has developed a wide range of surgical systems, with 35 products catering to trauma, scoliosis, and sports medicine.

A conference call to discuss the results is scheduled for August 6, 2020, at 8:00 a.m. ET, with dial-in options for domestic and international callers. The details are available on the company's investor relations webpage.

OrthoPediatrics Corp. (Nasdaq: KIDS) announced the closing of its underwritten public offering of 1,600,000 shares at a price of $47.00 per share, generating approximately $75.2 million in gross proceeds. The offering was facilitated by Piper Sandler and Stifel as joint book-running managers, with additional support from other firms. The shares were offered under a shelf registration statement effective since March 27, 2020. A final prospectus supplement has been filed with the SEC and is available on their website.

OrthoPediatrics Corp. (Nasdaq: KIDS) announced a public offering of its common stock on June 17, 2020. The offering aims to finance implant and instrument sets for customers, fund research and development, and expand marketing efforts. The underwriters have a 30-day option to purchase additional shares. The offering is contingent on market conditions and is conducted under a registered shelf statement effective since March 27, 2020. Piper Sandler and Stifel are the joint book-running managers. No assurances are provided regarding the offering's completion or terms.

OrthoPediatrics Corp. (Nasdaq: KIDS) has launched the ApiFix Minimally Invasive Deformity Correction system in the U.S., targeting progressive adolescent idiopathic scoliosis (AIS). This posterior dynamic correction system is designed for Lenke type 1 and 5 curves, offering a less invasive alternative to spinal fusion. The device's recovery time is significantly reduced, and it allows for gradual post-operative correction. Supported by strong patent protection, ApiFix was acquired in April 2020 and aims to address treatment gaps for children with scoliosis.

OrthoPediatrics Corp. (KIDS) reported first-quarter 2020 revenues of $16.4 million, up 11.6% from $14.7 million in Q1 2019. Domestic revenue rose 30.4% to $13.4 million, while international revenue fell 32.3% to $3.0 million. The company acquired ApiFix and launched new products, expanding its portfolio. However, it suspended its full-year 2020 revenue guidance due to COVID-19 uncertainties. Operating loss increased to ($4.5 million), and net loss attributable to common stockholders was ($4.9 million), or ($0.30) per share.