OrthoPediatrics Corp. Reports Third Quarter 2024 Financial Results and Increases Full Year 2024 Revenue Guidance
OrthoPediatrics (KIDS) reported record Q3 2024 financial results with total revenue of $54.6 million, up 37% year-over-year. U.S. revenue increased 45% to $42.7 million, while international revenue grew 12% to $11.9 million. The company helped over 33,000 children, a 50% increase from Q3 2023. Trauma & Deformity revenue grew 31%, Scoliosis revenue increased 52%, and Sports Medicine revenue rose 50%. Despite strong revenue growth, the company reported a net loss of $7.9 million. OrthoPediatrics increased its full-year 2024 revenue guidance to $202-204 million, representing 36-37% growth compared to 2023.
OrthoPediatrics (KIDS) ha riportato risultati finanziari record per il terzo trimestre del 2024, con un fatturato totale di 54,6 milioni di dollari, in aumento del 37% rispetto all'anno precedente. Il fatturato negli Stati Uniti è aumentato del 45% raggiungendo i 42,7 milioni di dollari, mentre il fatturato internazionale è cresciuto del 12% a 11,9 milioni di dollari. L'azienda ha aiutato oltre 33.000 bambini, un incremento del 50% rispetto al terzo trimestre del 2023. Il fatturato della sezione Trauma & Deformità è aumentato del 31%, quello della Scoliosi del 52% e il fatturato della Medicina Sportiva del 50%. Nonostante la forte crescita del fatturato, la società ha riportato una perdita netta di 7,9 milioni di dollari. OrthoPediatrics ha rivisto al rialzo le previsioni di fatturato per l'intero anno 2024 a 202-204 milioni di dollari, rappresentando una crescita del 36-37% rispetto al 2023.
OrthoPediatrics (KIDS) reportó resultados financieros récord para el tercer trimestre de 2024, con ingresos totales de 54,6 millones de dólares, un aumento del 37% en comparación con el año anterior. Los ingresos en EE.UU. aumentaron un 45% a 42,7 millones de dólares, mientras que los ingresos internacionales crecieron un 12% a 11,9 millones de dólares. La empresa ayudó a más de 33,000 niños, un incremento del 50% en comparación con el tercer trimestre de 2023. Los ingresos por Trauma y Deformidades crecieron un 31%, los ingresos por Escoliosis aumentaron un 52%, y los ingresos por Medicina Deportiva subieron un 50%. A pesar del fuerte crecimiento de los ingresos, la empresa reportó una pérdida neta de 7,9 millones de dólares. OrthoPediatrics incrementó su guía de ingresos para todo el año 2024 a 202-204 millones de dólares, lo que representa un crecimiento del 36-37% en comparación con 2023.
OrthoPediatrics (KIDS)는 2024년 3분기 재무 결과로 기록적인 성과를 보고했으며, 총 수익은 5,460만 달러로 전년 대비 37% 증가했습니다. 미국 내 수익은 45% 증가하여 4,270만 달러에 이르렀고, 해외 수익은 12% 증가하여 1,190만 달러에 달했습니다. 이 회사는 33,000명 이상의 아동을 도왔으며, 이는 2023년 3분기보다 50% 증가한 수치입니다. 외상 및 기형 부문의 수익은 31% 증가했으며, 척추 측만증 부문은 52% 증가하고, 스포츠 의학 부문은 50% 증가했습니다. 강력한 수익 성장에도 불구하고, 회사는 790만 달러의 순손실을 보고했습니다. OrthoPediatrics는 2024년 전체 연간 수익 가이드를 202-204백만 달러로 상향 조정했으며, 이는 2023년 대비 36-37% 성장한 것입니다.
OrthoPediatrics (KIDS) a annoncé des résultats financiers record pour le troisième trimestre 2024, avec un chiffre d'affaires total de 54,6 millions de dollars, en hausse de 37 % par rapport à l'année précédente. Le chiffre d'affaires aux États-Unis a augmenté de 45 % pour atteindre 42,7 millions de dollars, tandis que les revenus internationaux ont crû de 12 % pour atteindre 11,9 millions de dollars. L'entreprise a aidé plus de 33 000 enfants, soit une augmentation de 50 % par rapport au troisième trimestre 2023. Le chiffre d'affaires en Trauma & Déformations a augmenté de 31 %, celui de la Scoliose a augmenté de 52 %, et les revenus en Médecine Sportive ont augmenté de 50 %. Malgré cette forte hausse des revenus, l'entreprise a enregistré une perte nette de 7,9 millions de dollars. OrthoPediatrics a relevé ses prévisions de chiffre d'affaires pour l'année 2024 à 202-204 millions de dollars, soit une croissance de 36 à 37 % par rapport à 2023.
OrthoPediatrics (KIDS) hat für das dritte Quartal 2024 rekordverdächtige Finanzergebnisse berichtet, mit einem Gesamtumsatz von 54,6 Millionen Dollar, was einem Anstieg von 37% im Vergleich zum Vorjahr entspricht. Der Umsatz in den USA stieg um 45% auf 42,7 Millionen Dollar, während der internationale Umsatz um 12% auf 11,9 Millionen Dollar wuchs. Das Unternehmen unterstützte über 33.000 Kinder, ein Anstieg von 50% im Vergleich zum dritten Quartal 2023. Der Umsatz im Bereich Trauma & Deformitäten wuchs um 31%, der Umsatz im Bereich Skoliose stieg um 52% und der Umsatz in der Sportmedizin erhöhte sich um 50%. Trotz des starken Umsatzwachstums berichtete das Unternehmen von einem Nettoverlust von 7,9 Millionen Dollar. OrthoPediatrics erhöhte die Umsatzprognose für das gesamte Jahr 2024 auf 202-204 Millionen Dollar, was einem Wachstum von 36-37% im Vergleich zu 2023 entspricht.
- Record quarterly revenue of $54.6M, up 37% YoY
- U.S. revenue increased 45% to $42.7M
- Strong growth across all segments: Trauma & Deformity +31%, Scoliosis +52%, Sports Medicine +50%
- Increased full-year revenue guidance to $202-204M
- Gross profit increased 29% to $40.1M
- Net loss increased to $7.9M from $4.6M in Q3 2023
- Gross margin declined to 73% from 77% YoY
- Operating expenses increased 29% to $45.6M
- Total other expense increased to $3.6M including one-time refinancing cost
- Cash position decreased to $78.1M from $82.3M at year-end 2023
Insights
OrthoPediatrics delivered an impressive 37% revenue growth to
- Trauma & Deformity revenue up
31% to$37.6 million - Scoliosis revenue grew
52% to$15.6 million - Gross margin declined to
73% from77% due to product mix
The company's raised guidance of
The record treatment of over 33,000 children in Q3 represents a significant
Record Third Quarter 2024 Revenue Increased
WARSAW, Ind., Nov. 06, 2024 (GLOBE NEWSWIRE) -- OrthoPediatrics Corp. (“OrthoPediatrics” or the “Company”) (Nasdaq: KIDS), a company focused exclusively on advancing the field of pediatric orthopedics, today announced its financial results for the third quarter ended September 30, 2024.
Third Quarter 2024 and Recent Business Highlights
- Helped a record of more than 33,000 children in the third quarter 2024, an increase of
50% from the third quarter 2023 - Generated record total revenue of
$54.6 million for the third quarter of 2024, up37% from$40.0 million in third quarter 2023; domestic revenue increased45% and international revenue increased12% in the quarter - Grew worldwide Trauma & Deformity revenue
31% , worldwide Scoliosis revenue52% ; Sports Medicine/Other revenue increased50% in the third quarter of 2024 compared to the third quarter of 2023 - Launched Enabling Technologies Division that will focus on new areas within digital health and advanced technology intended to differentiate the Company's core business, generate sustainable revenue, and access new markets and specialties beyond orthopedics
- Increased full year 2024 revenue guidance to
$202 million to$204 million from$200 million to$203 million , representing growth of36% to37% compared to prior year
David Bailey, President & CEO of OrthoPediatrics, commented, “The third quarter results represent yet another strong performance for OrthoPediatrics in which we continued our positive momentum and executed our strategic initiatives. With multiple levers driving our growth, we saw strength across all business segments as Trauma and Deformity, Scoliosis, and OPSB all contributed to further establishing our dominant market share position within pediatric orthopedics. As we look ahead, we are confident in the remainder of 2024 and ending the year in a position of strength. Even more, we are excited about our long-term outlook as we expect to continue extending our growth while we maintain healthy gross margins and generate substantial EBITDA, all while we surround the children's hospital with everything needed to optimize pediatric care."
Third Quarter 2024 Financial Results
Total revenue for the third quarter of 2024 was
Trauma and Deformity revenue for the third quarter of 2024 was
Gross profit for the third quarter of 2024 was
Total operating expenses for the third quarter of 2024 were
Sales and marketing expenses increased
Research and development expenses increased negligibly to
General and administrative expenses increased
Total other expense was
Net loss for the third quarter of 2024 was
Adjusted EBITDA for the third quarter of 2024 was
Weighted average basic and diluted shares outstanding for the three months ended September 30, 2024, was 23,171,249 shares.
As of September 30, 2024, cash, cash equivalents, short-term investments and restricted cash were
Full Year 2024 Financial Guidance
For the full year of 2024, the Company increased its revenue guidance from
Conference Call
OrthoPediatrics will host a conference call on Thursday, November 7, 2024, at 8:00 a.m. ET to discuss the results. Investors interested in listening to the conference call may do so by accessing a live and archived webcast of the event at www.orthopediatrics.com, on the Investors page in the Events & Presentations section. The webcast will be available for replay for at least 90 days after the event.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of U.S. federal securities laws. You can identify forward-looking statements 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 known and unknown risks, uncertainties and other factors, such as the impact of widespread health emergencies, such as COVID-19 and respiratory syncytial virus, and the other risks, uncertainties and factors set forth under "Risk Factors" in OrthoPediatrics’ Annual Report on Form 10-K filed with the SEC on March 8, 2024, as updated and supplemented by our other SEC reports filed from time to time, that may cause our results, activity levels, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements;. 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.
Use of Non-GAAP Financial Measures
This press release includes certain non-GAAP financial measures such as organic revenue, adjusted loss per share and Adjusted EBITDA, which differ from financial measures calculated in accordance with U.S. generally accepted accounting principles (“GAAP”). Sales on an organic basis excludes from our reported net revenue growth the impacts of revenue from any acquired business that have been owned for less than one year. We believe that providing the non-GAAP organic revenue is useful as a way to measure and evaluate our underlying performance consistently across the periods presented. Adjusted loss per share in this press release represents diluted loss per share on a GAAP basis, plus the accreted interest attributable to acquisition installment payables, the fair value adjustment of contingent consideration, acquisition related costs, loss on early extinguishment of debt, nonrecurring Pega conversion fees, and minimum purchase commitment costs. The fair value adjustment of contingent consideration is associated with our estimates of the value of earn-outs in connection with certain acquisitions. We believe that providing the non-GAAP diluted loss per share excluding these expenses, as well as the GAAP measures, assists our investors because such expenses are not reflective of our ongoing operating results. Adjusted EBITDA in this release represents net loss, plus interest expense, net plus other expense, provision for income taxes (benefit), depreciation and amortization, tradename impairment, stock-based compensation expense, fair value adjustment of contingent consideration, acquisition related costs, nonrecurring PEGA conversion fees, Midcap financing termination loss, and the cost of minimum purchase commitments. The Company believes the non-GAAP measures provided in this earnings release enable it to further and more consistently analyze the period-to-period financial performance of its core business operating performance. Management uses these metrics as a measure of the Company’s operating performance and for planning purposes, including financial projections. The Company believes these measures are useful to investors as supplemental information because they are frequently used by analysts, investors and other interested parties to evaluate companies in its industry. Adjusted EBITDA is a non-GAAP financial measure and should not be considered as an alternative to, or superior to, net income or loss as a measure of financial performance or cash flows from operations as a measure of liquidity, or any other performance measure derived in accordance with GAAP, and it should not be construed to imply that the Company’s future results will be unaffected by unusual or non-recurring items. In addition, the measure is not intended to be a measure of free cash flow for management’s discretionary use, as it does not reflect certain cash requirements such as debt service requirements, capital expenditures and other cash costs that may recur in the future. Adjusted EBITDA contains certain other limitations, including the failure to reflect our cash expenditures, cash requirements for working capital needs and other potential cash requirements. In evaluating these non-GAAP measures, you should be aware that in the future the Company may incur expenses that are the same or similar to some of the adjustments in this presentation. The Company’s presentation of non-GAAP diluted loss per share or Adjusted EBITDA should not be construed to imply that its future results will be unaffected by any such adjustments. Management compensates for these limitations by primarily relying on the Company’s GAAP results in addition to using these adjusted measures on a supplemental basis. The Company’s definition of these measures is not necessarily comparable to other similarly titled captions of other companies due to different methods of calculation. The schedules below contain reconciliations of reported GAAP net revenue to non-GAAP organic revenue, GAAP diluted loss per share to non-GAAP diluted loss and net loss to non-GAAP Adjusted EBITDA.
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 over 70 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 over 70 countries outside the United States. For more information, please visit www.orthopediatrics.com.
Investor Contact
Philip Trip Taylor
Gilmartin Group
philip@gilmartinir.com
415-937-5406
ORTHOPEDIATRICS CORP. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In Thousands, Except Share Data) | |||||||
September 30, 2024 | December 31, 2023 | ||||||
ASSETS | |||||||
Current assets: | |||||||
Cash and cash equivalents | $ | 51,047 | $ | 31,055 | |||
Restricted cash | 1,998 | 1,972 | |||||
Short-term investments | 25,017 | 49,251 | |||||
Accounts receivable - trade, net of allowances of | 42,827 | 34,617 | |||||
Inventories, net | 120,934 | 105,851 | |||||
Prepaid expenses and other current assets | 6,489 | 3,750 | |||||
Total current assets | 248,312 | 226,496 | |||||
Property and equipment, net | 54,765 | 41,048 | |||||
Other assets: | |||||||
Amortizable intangible assets, net | 65,955 | 69,275 | |||||
Goodwill | 91,262 | 83,699 | |||||
Other intangible assets | 18,744 | 15,287 | |||||
Other non-current assets | 10,256 | 2,940 | |||||
Total other assets | 186,217 | 171,201 | |||||
Total assets | $ | 489,294 | $ | 438,745 | |||
LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||
Current liabilities: | |||||||
Accounts payable - trade | $ | 11,647 | $ | 12,649 | |||
Accrued compensation and benefits | 13,221 | 11,325 | |||||
Current portion of long-term debt with affiliate | 158 | 152 | |||||
Current portion of acquisition installment payable | 1,325 | 10,149 | |||||
Other current liabilities | 8,274 | 7,391 | |||||
Total current liabilities | 34,625 | 41,666 | |||||
Long-term liabilities: | |||||||
Long-term loan | 23,948 | 9,297 | |||||
Long-term convertible loan | 47,831 | — | |||||
Long-term debt with affiliate, net of current portion | 491 | 611 | |||||
Other long-term debt, net of current portion | 244 | — | |||||
Acquisition installment payable, net of current portion | 2,412 | 3,551 | |||||
Deferred income taxes | 4,025 | 5,483 | |||||
Other long-term liabilities | 4,799 | 1,112 | |||||
Total long-term liabilities | 83,750 | 20,054 | |||||
Total liabilities | 118,375 | 61,720 | |||||
Stockholders' equity: | |||||||
Common stock, | 6 | 6 | |||||
Additional paid-in capital | 597,009 | 580,287 | |||||
Accumulated deficit | (219,495 | ) | (197,742 | ) | |||
Accumulated other comprehensive loss | (6,601 | ) | (5,526 | ) | |||
Total stockholders' equity | 370,919 | 377,025 | |||||
Total liabilities and stockholders' equity | $ | 489,294 | $ | 438,745 | |||
ORTHOPEDIATRICS CORP. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In Thousands, Except Share and Per Share Data) | |||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||
Net revenue | $ | 54,573 | $ | 39,972 | $ | 152,060 | $ | 111,119 | |||||||
Cost of revenue | 14,513 | 9,019 | 39,027 | 26,580 | |||||||||||
Gross profit | 40,060 | 30,953 | 113,033 | 84,539 | |||||||||||
Operating expenses: | |||||||||||||||
Sales and marketing | 16,750 | 13,942 | 47,512 | 40,024 | |||||||||||
General and administrative | 26,299 | 17,973 | 78,358 | 54,242 | |||||||||||
Tradename impairment | — | 985 | — | 985 | |||||||||||
Research and development | 2,577 | 2,561 | 8,118 | 7,973 | |||||||||||
Total operating expenses | 45,626 | 35,461 | 133,988 | 103,224 | |||||||||||
Operating loss | (5,566 | ) | (4,508 | ) | (20,955 | ) | (18,685 | ) | |||||||
Other expense (income): | |||||||||||||||
Interest expense, net | 404 | 21 | 1,302 | 105 | |||||||||||
Loss on early extinguishment of debt | 3,230 | — | 3,230 | — | |||||||||||
Fair value adjustment of contingent consideration | — | — | — | (2,974 | ) | ||||||||||
Other income (expense), net | (63 | ) | (787 | ) | 33 | (1,407 | ) | ||||||||
Total other expense (income), net | 3,571 | (766 | ) | 4,565 | (4,276 | ) | |||||||||
Loss before income taxes | $ | (9,137 | ) | $ | (3,742 | ) | $ | (25,520 | ) | $ | (14,409 | ) | |||
Provision for income taxes (benefit) | (1,218 | ) | 849 | (3,767 | ) | (126 | ) | ||||||||
Net loss | $ | (7,919 | ) | $ | (4,591 | ) | $ | (21,753 | ) | $ | (14,283 | ) | |||
Weighted average common stock - basic and diluted | 23,171,249 | 22,762,823 | 23,046,155 | 22,646,087 | |||||||||||
Net loss per share – basic and diluted | $ | (0.34 | ) | $ | (0.20 | ) | $ | (0.94 | ) | $ | (0.63 | ) | |||
ORTHOPEDIATRICS CORP. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)(In Thousands) | |||||||
Nine Months Ended September 30, | |||||||
2024 | 2023 | ||||||
OPERATING ACTIVITIES | |||||||
Net loss | $ | (21,753 | ) | $ | (14,283 | ) | |
Adjustments to reconcile net loss to net cash used in operating activities: | |||||||
Tradename Impairment | — | 985 | |||||
Depreciation and amortization | 15,087 | 12,198 | |||||
Stock-based compensation | 9,660 | 7,779 | |||||
Loss on early extinguishment of debt | 3,230 | — | |||||
Fair value adjustment of contingent consideration | — | (2,974 | ) | ||||
Fair value adjustment of acquisition installment payable | 599 | 1,092 | |||||
Deferred income taxes | (3,907 | ) | (899 | ) | |||
Changes in certain current assets and liabilities: | |||||||
Accounts receivable - trade | (5,178 | ) | (12,878 | ) | |||
Inventories, net | (14,154 | ) | (22,198 | ) | |||
Prepaid expenses and other current assets | (2,134 | ) | (196 | ) | |||
Accounts payable - trade | (1,768 | ) | 11,492 | ||||
Accrued expenses and other liabilities | 308 | 3,288 | |||||
Other | (3,051 | ) | (2,909 | ) | |||
Net cash used in operating activities | (23,061 | ) | (19,503 | ) | |||
INVESTING ACTIVITIES | |||||||
Acquisition of Boston O&P, net of cash acquired | (20,225 | ) | — | ||||
Clinic acquisition, net of cash acquired | (475 | ) | — | ||||
Acquisition of MedTech, net of cash acquired | — | (3,097 | ) | ||||
Acquisition of Rhino assets | — | (546 | ) | ||||
Investment in private companies | (380 | ) | — | ||||
Sale of short-term marketable securities | 49,855 | 89,040 | |||||
Purchase of short-term marketable securities | (25,000 | ) | (48,600 | ) | |||
Purchases of property and equipment | (14,525 | ) | (13,042 | ) | |||
Net cash (used in) provided by investing activities | (10,750 | ) | 23,755 | ||||
FINANCING ACTIVITIES | |||||||
Installment payment for ApiFix | (2,250 | ) | (2,000 | ) | |||
Installment payment for MedTech | (1,250 | ) | — | ||||
Proceeds from issuance of debt | 73,533 | — | |||||
Payment on debt | (12,231 | ) | — | ||||
Payment of debt issuance costs | (3,085 | ) | — | ||||
Proceeds from exercise of stock options | — | 21 | |||||
Payments on acquisition note | (928 | ) | — | ||||
Payments on mortgage notes | (113 | ) | (107 | ) | |||
Net cash provided by (used in) financing activities | 53,676 | (2,086 | ) | ||||
Effect of exchange rate changes on cash, cash equivalents and restricted cash | 153 | (396 | ) | ||||
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 20,018 | 1,770 | |||||
Cash, cash equivalents and restricted cash, beginning of period | $ | 33,027 | $ | 10,462 | |||
Cash, cash equivalents and restricted cash, end of period | $ | 53,045 | $ | 12,232 | |||
SUPPLEMENTAL DISCLOSURES | |||||||
Cash paid for interest | $ | 1,381 | $ | 32 | |||
Issuance of common shares to acquire Rhino | $ | — | $ | 478 | |||
Transfer of instruments between property and equipment and inventory | $ | 966 | $ | 431 | |||
Issuance of common shares for ApiFix installment | $ | 6,929 | $ | 6,178 | |||
Issuance of common shares for MedTech installment | $ | 133 | $ | 2,274 | |||
Right-of-use assets obtained in exchange for lease liabilities | $ | 3,220 | $ | 367 | |||
Debt issuance costs not yet paid | $ | 260 | $ | — | |||
ORTHOPEDIATRICS CORP. NET REVENUE BY GEOGRAPHY AND PRODUCT CATEGORY (Unaudited) (In Thousands) | |||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
Product sales by geographic location: | 2024 | 2023 | 2024 | 2023 | |||||||||||
U.S. | $ | 42,714 | $ | 29,360 | $ | 118,269 | $ | 82,748 | |||||||
International | 11,859 | 10,612 | 33,791 | 28,371 | |||||||||||
Total | $ | 54,573 | $ | 39,972 | $ | 152,060 | $ | 111,119 | |||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
Product sales by category: | 2024 | 2023 | 2024 | 2023 | |||||||||||
Trauma and deformity | $ | 37,642 | $ | 28,806 | $ | 108,715 | $ | 79,715 | |||||||
Scoliosis | 15,635 | 10,304 | 39,521 | 28,270 | |||||||||||
Sports medicine/other | 1,296 | 862 | 3,824 | 3,134 | |||||||||||
Total | $ | 54,573 | $ | 39,972 | $ | 152,060 | $ | 111,119 | |||||||
ORTHOPEDIATRICS CORP. RECONCILIATION OF NET LOSS TO NON-GAAP ADJUSTED EBITDA (Unaudited) (In Thousands) | |||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||
Net loss | $ | (7,919 | ) | $ | (4,591 | ) | $ | (21,753 | ) | $ | (14,283 | ) | |||
Interest expense, net | 404 | 21 | 1,302 | 105 | |||||||||||
Other (income) expense | (63 | ) | (787 | ) | 33 | (1,407 | ) | ||||||||
Provision for income taxes (benefit) | (1,218 | ) | 849 | (3,767 | ) | (126 | ) | ||||||||
Depreciation and amortization | 5,280 | 4,270 | 15,087 | 12,198 | |||||||||||
Stock-based compensation | 3,922 | 2,364 | 9,660 | 7,779 | |||||||||||
Tradename impairment loss | — | 985 | — | 985 | |||||||||||
Fair value adjustment of contingent consideration | — | — | — | (2,974 | ) | ||||||||||
Acquisition related costs | 117 | 10 | 504 | 209 | |||||||||||
Nonrecurring Pega conversion fees | — | — | — | 277 | |||||||||||
Loss on early extinguishment of debt | 3,230 | — | 3,230 | — | |||||||||||
Minimum purchase commitment cost | 224 | 477 | 1,200 | 1,053 | |||||||||||
Adjusted EBITDA | $ | 3,977 | $ | 3,598 | $ | 5,496 | $ | 3,816 | |||||||
ORTHOPEDIATRICS CORP. RECONCILIATION OF DILUTED LOSS PER SHARE TO NON-GAAP ADJUSTED DILUTED LOSS PER SHARE (Unaudited) | |||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||
Loss per share, diluted (GAAP) | $ | (0.34 | ) | $ | (0.20 | ) | $ | (0.94 | ) | $ | (0.63 | ) | |||
Tradename impairment loss | — | 0.04 | — | 0.04 | |||||||||||
Accretion of interest attributable to acquisition installment payable | — | 0.01 | — | 0.05 | |||||||||||
Fair value adjustment of contingent consideration | — | — | — | (0.13 | ) | ||||||||||
Acquisition related costs | 0.01 | — | 0.02 | 0.01 | |||||||||||
Nonrecurring Pega conversion fees | — | — | — | 0.01 | |||||||||||
Loss on early extinguishment of debt | 0.14 | — | 0.14 | — | |||||||||||
Minimum purchase commitment cost | 0.01 | 0.02 | 0.05 | 0.05 | |||||||||||
Loss per share, diluted (non-GAAP) | $ | (0.18 | ) | $ | (0.13 | ) | $ | (0.73 | ) | $ | (0.60 | ) | |||
FAQ
What was OrthoPediatrics (KIDS) revenue growth in Q3 2024?
How much did OrthoPediatrics (KIDS) lose in Q3 2024?
What is OrthoPediatrics (KIDS) revenue guidance for 2024?