OrthoPediatrics Announces Preliminary Unaudited Revenue for the Fourth Quarter & Full-Year 2021

Rhea-AI Summary

OrthoPediatrics Corp. (Nasdaq: KIDS) announced preliminary unaudited revenue for Q4 and full year 2021. Q4 revenue is estimated at $24.8 million, a 31% increase from Q4 2020's $18.9 million. Domestic revenue rose 11%, while international revenue surged 363%. Full year 2021 revenue is expected to reach $98.0 million, reflecting 38% growth. Domestic sales grew 24%, and international sales increased 150%. The final financial results will be released in March 2022, as these figures are subject to audit adjustments.

Positive

• Q4 2021 revenue expected to increase by 31% to $24.8 million.
• 2021 full year revenue expected to reach $98 million, a 38% increase.
• International revenue grew significantly by 363% in Q4 and 150% for the full year.

Negative

• Preliminary revenues are subject to adjustments after audit.
• Potential risks related to COVID-19 may impact future demand for products.

WARSAW, Ind., Jan. 10, 2022 (GLOBE NEWSWIRE) -- OrthoPediatrics Corp. (“OrthoPediatrics” or the “Company”) (Nasdaq: KIDS), a company focused exclusively on advancing the field of pediatric orthopedics, today announced preliminary unaudited revenue for the fourth quarter and full year ended December 31, 2021.

Preliminary unaudited fourth quarter 2021 revenue is expected to be $24.8 million, up 31%, when compared to $18.9 million in the fourth quarter of 2020. Preliminary domestic revenue grew 11% while international revenue increased 363%. OrthoPediatrics’ preliminary unaudited full year 2021 revenue is expected to be $98.0 million, representing annual growth of 38%. Preliminary full year domestic revenue grew 24% while international revenue increased 150%.

The Company plans to release its fourth quarter and full year 2021 financial results in early March 2022. The quarterly and annual preliminary revenue estimates for 2021 included in this press release are prior to the completion of review and audit procedures by the Company’s independent registered public accounting firm and are therefore subject to adjustment.

Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of U.S. federal securities laws, including the statements regarding OrthoPediatrics’ preliminary revenue for the fourth quarter ended December 31, 2021, and other statements identified by the use of words such as "may," "might," "will," "should," "expect," "plan," "anticipate," "could," "believe," "estimate," "project," "target," "predict," "intend," "future," "goals," "potential," "objective," "would" and other similar expressions. Forward-looking statements involve risks and uncertainties, many of which are beyond OrthoPediatrics’ control. Important factors could cause actual results to differ materially from those in the forward-looking statements, including, among others: the risks related to COVID-19, the continued impact such pandemic may have on the demand for our products, and our ability to respond to the related challenges; and the risks, uncertainties and factors set forth under "Risk Factors" in OrthoPediatrics’ Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on March 11, 2021 as updated and supplemented by our other SEC reports filed from time to time. Forward-looking statements speak only as of the date they are made. OrthoPediatrics assumes no obligation to update forward-looking statements to reflect actual results, subsequent events, or circumstances or other changes affecting such statements except to the extent required by applicable securities laws.

About OrthoPediatrics Corp.
Founded in 2006, OrthoPediatrics is an orthopedic company focused exclusively on advancing the field of pediatric orthopedics. As such it has developed the most comprehensive product offering to the pediatric orthopedic market to improve the lives of children with orthopedic conditions. OrthoPediatrics currently markets 37 surgical systems that serve three of the largest categories within the pediatric orthopedic market. This product offering spans trauma and deformity, scoliosis, and sports medicine/other procedures. OrthoPediatrics’ global sales organization is focused exclusively on pediatric orthopedics and distributes its products in the United States and 45 countries outside the United States. For more information, please visit www.orthopediatrics.com.

Investor Contact
Gilmartin Group
Matt Bacso, CFA
Matt.bacso@gilmartinir.com

FAQ

What are the preliminary revenue estimates for KIDS in Q4 2021?

Preliminary unaudited revenue for Q4 2021 is expected to be $24.8 million, up 31% from Q4 2020.

How much did OrthoPediatrics' revenue grow in 2021?

In 2021, OrthoPediatrics' revenue is expected to grow by 38% to $98.0 million.

What contributed to the revenue growth for KIDS in 2021?

The revenue growth was driven by an 11% increase in domestic revenue and a significant 150% increase in international revenue.

When will KIDS release its complete financial results for 2021?

OrthoPediatrics plans to release its complete financial results in early March 2022.

What risks could affect KIDS' future revenue?

Potential risks include the ongoing impact of COVID-19 on product demand.