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Paragon 28, Inc. (FNA) is a pioneering medical devices company focused exclusively on the orthopedic foot and ankle market. Founded in 2010, the name ‘Paragon 28’ signifies its dedication to this niche, with ‘28’ representing the number of bones in the human foot. The company was started as a small, family-based business and, while it has seen significant growth, it holds steadfast to its original core values.
Paragon 28 is dedicated to advancing the science behind foot and ankle surgery through innovative and high-quality solutions. The company collaborates with global thought leaders to blend various surgical philosophies, resulting in biomechanically and clinically relevant surgical solutions. Their comprehensive product lineup includes plates and plating systems, screws, staples, and nails designed for all major foot and ankle procedures such as ankle, Charcot, fracture fixation, hallux valgus, hammertoe, and flat foot corrections.
With nearly 80 product systems, Paragon 28 aims to meet the specific needs of each patient and procedure, ensuring precise and effective outcomes. The company is also committed to providing excellent customer service through a dedicated and highly trained distribution network, primarily targeting the foot and ankle market.
Operating efficiently to meet the demands of pricing pressures and reimbursement challenges, Paragon 28 generates the majority of its revenue from the United States. The company's relentless focus on innovation and service has led to significant milestones, making it a trusted name in the foot and ankle surgical space.
Paragon 28, Inc. (NYSE: FNA), a leading medical device company focused on foot and ankle orthopedics, will participate in a fireside chat at the Bank of America Securities 2023 Healthcare Conference on May 10, 2023, at 5:20 p.m. ET. The event will feature
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Paragon 28, Inc. (NYSE: FNA) has launched its innovative Phantom® Metatarsal Shortening System, designed for in-line shortening osteotomies of the lesser metatarsals, which treat common foot ailments like metatarsalgia and floating toe. The system features a patent-pending cut guide for enhanced precision. CEO Albert DaCosta emphasized the system's potential to drive growth in the forefoot segment, complementing the company's existing portfolio, including TenoTac™ and HammerTube™. The launch aims to provide a comprehensive solution for surgeons addressing forefoot conditions.
Contributors to the design include renowned surgeons, underscoring the system's innovative approach to improving patient outcomes in foot and ankle orthopedic procedures.
Paragon 28, Inc. (NYSE: FNA), a prominent medical device company focusing on the foot and ankle orthopedic market, will announce its first quarter 2023 financial results on May 4, 2023, after market close. A conference call is scheduled for 4:30 p.m. ET, providing insights into the company's financial performance and future outlook. Investors can join the call by dialing (833-470-1428) domestically or (929-526-1599) internationally, using conference ID: 007721. The event will also be webcasted live on the company's investor website, with a replay available for 90 days. Paragon 28 is dedicated to enhancing patient care through innovative orthopedic solutions for various foot and ankle conditions, aiming to improve surgical outcomes and reduce complications.
Paragon 28, Inc. (NYSE: FNA) reported its financial results for Q4 and full year 2022, showcasing a strong revenue performance.
Q4 consolidated net revenue reached $51.5 million, marking a 20.4% increase. For the full year, consolidated net revenue totaled $181.4 million, up 23%. U.S. revenue for Q4 was $45.3 million, contributing to a 22% annual growth rate. The gross margin remained robust at 82% for both Q4 and the entire year.
However, the company faced a net loss of $38.8 million for Q4, up from a loss of $6.2 million in the prior year, and an annual loss of $67.3 million.
Looking ahead, Paragon 28 anticipates net revenue of $214-$218 million for 2023, indicating an 18%-20% growth.
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