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 reported full year 2020 revenue of $71.1 million, a 2% decline from 2019, impacted by COVID-19's effect on elective surgeries. Q4 revenue was $18.9 million, down slightly from 2019, with a 26.1% increase in domestic sales, but a 77.7% decline in international sales. The company expects 31-38% revenue growth in 2021, projecting sales of $93-$98 million. Notably, operating expenses rose 59.4% in Q4 due to legal settlements, leading to a net loss of $14.0 million for the quarter and $32.9 million for the year.
OrthoPediatrics Corp. (NASDAQ: KIDS) announced that over 200,000 children with orthopedic conditions have been treated using its products as of March 2021. Founded in 2006, the company focuses exclusively on pediatric orthopedics, providing tailored surgical solutions that address the specific needs of children. OrthoPediatrics offers 35 surgical systems that cater to trauma, scoliosis, and sports medicine procedures. The company's mission remains dedicated to enhancing the quality and variety of treatments available for young patients globally.
OrthoPediatrics Corp. (NASDAQ: KIDS) will release its Q4 and full-year 2020 financial results on March 10, 2021, after market close. The company is ensuring accurate accounting for complex transactions, including the acquisition of ApiFix and the transition to sales agencies in three European markets. A conference call will follow on March 11, 2021, at 8:00 a.m. ET to discuss these results. OrthoPediatrics specializes in pediatric orthopedics and markets 35 surgical systems in the U.S. and 43 other countries.
OrthoPediatrics Corp. (NASDAQ: KIDS) was recognized as one of the 2021 Best Places to Work in Indiana, marking the fifth time the company has received this honor. CEO Mark Throdahl highlighted the significance of this award amidst the COVID-19 pandemic, attributing it to valuable employee feedback. The awards program, managed by the Indiana Chamber of Commerce and Best Companies Group, evaluated companies based on workplace policies and employee surveys, with the latter accounting for 75% of the total score. Final rankings will be revealed at an awards ceremony on May 6, 2021.
OrthoPediatrics Corp. (Nasdaq: KIDS) has launched APIFIX.COM, a website dedicated to educating families and healthcare providers about the ApiFix procedure for treating progressive adolescent idiopathic scoliosis (AIS). With a focus on patient empowerment, the new site offers comprehensive information about AIS and the advantages of the ApiFix system, a less invasive alternative to spinal fusion. The company has partnered with 20 U.S. clinical centers for a post-approval study registry to monitor the safety and efficacy of this treatment. ApiFix's innovation is supported by 46 patents worldwide.
OrthoPediatrics Corp. (Nasdaq: KIDS) will participate in a fireside chat at the BTIG Virtual MedTech Conference on February 18, 2021, at 10:00 AM ET. Key executives, including President Dave Bailey and COO Fred Hite, will present insights on the company's advancements in pediatric orthopedics.
Investors can access an audio webcast of the presentation through OrthoPediatrics' investor relations website. The company specializes in pediatric orthopedic products, offering 35 surgical systems across multiple categories.
OrthoPediatrics Corp. (NASDAQ: KIDS) is expanding its pediatric orthopedic product offerings in Australia and New Zealand. Recently launched products include the Pediatric Nailing Platform, Response 4.5/5.0 Spine System, and the innovative Orthex system. Orthex features a hexapod design for deformity correction, with unique telescoping struts for precision and reduced inventory needs. The accompanying Point & Click Software simplifies the surgical process. Dr. Leo Donnan from the Royal Children's Hospital praised the Orthex system, expecting it to become a leading device in reconstructive surgery.
OrthoPediatrics Corp. (NASDAQ: KIDS) has successfully registered 14 new products in Canada over the past year, including innovative Trauma & Deformity Correction products and the RESPONSE Scoliosis system. The RESPONSE system features advanced instrumentation and implant technology for pediatric spinal deformities. Additionally, the ApiFix system is expanding its clinical use in Canada, receiving positive feedback from surgeons for its effectiveness in treating adolescent idiopathic scoliosis. OrthoPediatrics specializes exclusively in pediatric orthopedic solutions, with a comprehensive product range across multiple categories.
OrthoPediatrics Corp. (Nasdaq: KIDS) has expanded its agent network in Germany, Austria, and Switzerland, transitioning from distributor partners to a direct sales agency model. This strategy allows the company to directly bill hospitals, relieving distributors of capital investment burdens and enhancing growth potential in these markets. With this change, the number of countries using the agency model has increased from 8 to 11, contributing significantly to international sales growth in 2020. The company plans to expand its product offerings, including new technologies, to improve pediatric orthopedic care.
OrthoPediatrics (Nasdaq: KIDS) announced its preliminary unaudited revenue for the fourth quarter and full year ended December 31, 2020. Fourth quarter revenue is projected at $21.7 million, a 14% increase from $19.0 million in Q4 2019. Domestic revenue grew by 26%, but international revenue declined by 21%. For the full year, revenue is expected to reach $73.8 million, marking a 2% growth overall. Domestic revenue increased by 14%, while international revenue saw a significant decline of 38%. The company plans to disclose detailed results in early March 2021.