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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 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.
Paragon 28, Inc. (NYSE: FNA) announced it will release its Q1 2022 financial results after market close on May 9, 2022. A conference call will follow at 4:30 p.m. ET, and investors can access it by calling (844-200-6205) within the U.S. or (646-904-5544) internationally, using conference ID: 990038. CEO Albert DaCosta and CFO Steve Deitsch will also present at the Bank of America Healthcare Conference in Las Vegas on May 10, at 2:00 p.m. PT. Live webcasts will be available on the company’s website.
Paragon 28, Inc. (NYSE: FNA) has appointed Meghan Scanlon to its Board of Directors, enhancing its leadership team. With over 20 years in the medical device sector, Scanlon currently serves as senior vice president at Boston Scientific Corporation. She will also contribute to the Compensation and Quality, Technology and Regulatory Committees. Paragon 28 aims to improve outcomes for foot and ankle patients, focusing on innovative orthopedic solutions and procedural approaches.
Paragon 28, Inc. (NYSE: FNA), a premier medical device company focusing on foot and ankle orthopedics, announced presentations by CEO Albert DaCosta and CFO Steve Deitsch at the Canaccord Genuity Musculoskeletal Conference on March 22, 2022, and the Needham Healthcare Conference on April 11, 2022. Both events will be webcast live, with the Canaccord chat at 12:30pm ET and the Needham chat at 11:00am ET. Archived recordings will be available on the company’s investor relations website.
Paragon 28 (NYSE: FNA) reported Q4 2021 net revenue of $42.8 million, a 22% increase year-over-year, and total revenue of $147.5 million for 2021, reflecting 33% growth. The gross margin improved to 81.7% from 72.3% in the prior year, attributed to higher margin product sales. However, operating expenses surged to $40.0 million, leading to a net loss of $6.2 million. The company expects net revenue for 2022 to be between $167.0 million and $171.0 million, indicating growth of 13% to 16%, despite potential COVID-19 challenges.
Paragon 28, Inc. (NYSE: FNA), a medical device leader in the foot and ankle orthopedic market, will announce its Q4 and full year 2021 financial results on March 8, 2022, after market close. A conference call will follow at 4:30 p.m. ET, accessible via phone or through a webcast on the company’s website. Investors can dial (844-200-6205) domestically or (929-526-1599) internationally using conference ID: 902702. The audio will be archived for 90 days post-event.
Paragon 28, Inc. (NYSE: FNA) has announced the acquisition of Disior Oy, a software company specializing in 3D analytics for foot and ankle surgery. The $18 million upfront payment, with potential future payments of up to $8 million, aims to enhance Paragon 28's SMART 28™ ecosystem. This integration will improve pre-operative planning and surgical outcomes for foot and ankle surgeons, aligning with Paragon 28's mission to modernize surgery and enhance patient care.
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