Welcome to our dedicated page for Paragon 28 news (Ticker: FNA), a resource for investors and traders seeking the latest updates and insights on Paragon 28 stock.
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) reported a 19% growth in net revenue for Q2 2022, totaling $42.5 million, driven by increased productivity and new product launches. U.S. revenue was $36.8 million with a similar 19% increase. Internationally, the company achieved record revenue of $5.7 million, up 20%. Despite this growth, Paragon reported a net loss of $9.6 million and raised its 2022 revenue guidance to $176 million. Operating expenses surged to $43.9 million, influenced by one-time costs related to a new SAP launch.
Paragon 28, Inc. (NYSE: FNA), a leader in medical devices for foot and ankle orthopedics, announced that its Chairman and CEO, Albert DaCosta, along with CFO Steve Deitsch, will present at The Canaccord Genuity 42nd Annual Growth Conference in Boston. The fireside chat is scheduled for August 11, 2022, at 1:00 PM Eastern Time. Interested investors can access the live webcast and archived recording via the Company's investor relations website.
Paragon 28, Inc. (NYSE: FNA) will report its second quarter 2022 financial results after market close on August 3, 2022. A conference call will follow at 4:30 p.m. ET, accessible via phone (domestic: 844-200-6205, international: 929-526-1599) with conference ID: 990038, or through a webcast on the company's website. Paragon 28 focuses on innovative orthopedic solutions for foot and ankle conditions, aiming to enhance patient outcomes and reduce complications.
Paragon 28, Inc. (NYSE: FNA) announced the launch of its nationwide mobile training lab tour, aimed at enhancing on-site surgeon education. This mobile lab, housed in a 43x30 foot trailer, can host up to 20 surgeons at a time and will facilitate over 50 training sessions across approximately fifty U.S. cities in the latter half of 2022. CEO Albert DaCosta emphasized the initiative's role in showcasing the company's innovative product portfolio, which includes eight new product launches in 2022.
Paragon 28, Inc. (NYSE: FNA) has launched its Monkey Rings™ Circular External Fixation System, aimed at trauma, deformity correction, and limb salvage. This system utilizes external wires and screws to stabilize bone while preserving soft tissue integrity. CEO Albert DaCosta emphasized the innovation reflects the company's commitment to enhancing patient outcomes. The new product adds to their existing offerings, including the Silverback® Ankle Fusion Plating System and Gorilla® R3CON Plating System, positioning Paragon 28 as a comprehensive solution provider in the foot and ankle orthopedic market.
Paragon 28, Inc. (NYSE: FNA) has announced the launch of its TenoTac™ 2.0 Soft Tissue Fixation System, enhancing its hammertoe and soft-tissue portfolio. The new system features a titanium threaded implant designed for improved capture of soft tissue, streamlined tensioning, and better fit. CEO Albert DaCosta emphasized the device's potential to enhance surgical control and patient outcomes. This launch adds to a diverse range of the company’s existing hammertoe solutions, including the Paratrooper™ Plantar Plate System and Mini-Monster® Screw System.
Paragon 28, Inc. (NYSE: FNA), a prominent medical device company focusing on foot and ankle orthopedics, has launched the Grappler™ Suture Anchor System. This new product aims to enhance surgical procedures by providing surgeons with a reliable fixation option that limits implant migration and loss of tension during tissue reattachment. CEO Albert DaCosta expressed enthusiasm for this expansion, which adds to the company's soft-tissue portfolio that includes products like the Paratrooper™ Plantar Plate System and R3ACT Stabilization System.
Paragon 28, Inc. (NYSE: FNA) reported Q1 2022 net revenue of $41.4 million, a growth of 25% year-over-year. U.S. revenue was $36.0 million with 24% growth, while international revenue reached $5.4 million, up 35%. Gross margin improved to 83.6% from 80.5% despite operating expenses rising to $43.0 million. The company's net loss widened to $9.2 million compared to $0.5 million last year. For 2022, Paragon expects net revenue between $171.0 million and $175.0 million, indicating 16% to 19% growth.
Paragon 28, Inc. (NYSE: FNA) announced the launch of its innovative Paratrooper™ Plantar Plate Repair System, designed to enhance hammertoe and soft-tissue treatment options. This low-profile, all-suture implant aims to improve surgical approaches for plantar plate repair and forefoot deformities. CEO Albert DaCosta highlighted the challenges in treating plantar plate conditions and the company's strategic focus on the growing hammertoe market, suggesting significant opportunities for improved patient outcomes.
Paragon 28, Inc. (NYSE: FNA) has launched the R3ACT™ Stabilization System, aimed at enhancing soft tissue healing for syndesmotic ankle injuries. This system is designed to address the complexities of stabilization throughout various healing phases. CEO Albert DaCosta emphasized that around 20% of ankle injuries necessitate implants for recovery, positioning the R3ACT™ as a valuable addition to their ankle fracture solutions. Paragon 28 specializes in the foot and ankle orthopedic market, focusing on innovative solutions to improve patient outcomes.
FAQ
What is the current stock price of Paragon 28 (FNA)?
What is the market cap of Paragon 28 (FNA)?
What does Paragon 28, Inc. specialize in?
When was Paragon 28, Inc. founded?
What is the significance of the name 'Paragon 28'?
What types of products does Paragon 28 offer?
How many product systems does Paragon 28 have?
Where does Paragon 28 generate the majority of its revenue?
What is Paragon 28’s approach to innovation?
What is Paragon 28’s commitment to customer service?
How does Paragon 28 address pricing pressures and reimbursement challenges?
What recent achievements has Paragon 28 made?
