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OrthoPediatrics Corp. (symbol: KIDS) is a global leader in pediatric orthopedics, exclusively focusing on providing innovative solutions for children with orthopedic conditions and injuries. The company is dedicated to advancing pediatric orthopedics by developing state-of-the-art technologies, ensuring high-quality products, and offering unparalleled support and clinical education through its team of experts.
OrthoPediatrics offers a wide range of anatomically appropriate implants and instruments designed to meet the unique needs of pediatric orthopedic surgeons. Their product portfolio includes solutions for long bone deformity correction and trauma, spine, and sports medicine. Among their flagship products are PediLoc, PediPlates, Cannulated Screws, PediFlexTM nail, PediNailTM, PediLoc Tibia, and the ACL Reconstruction System.
Recent achievements of OrthoPediatrics include issuing the 2024 financial guidance and recording a full-year revenue of $148.7 million in 2023, marking a 22% increase compared to the previous year. As of December 31, 2023, the company had cash and cash equivalents, short-term investments, and restricted cash totaling $82.3 million. The recent acquisition of Boston Orthotics & Prosthetics was a significant milestone, further reinforcing their market position.
In the first quarter of 2024, OrthoPediatrics reported a 41% increase in revenue year-over-year. The company's total other expense was $0.6 million for the quarter, primarily due to a favorable fair value adjustment in the previous year that did not recur in 2024, as well as additional interest expenses related to a new term loan with MidCap. As of March 31, 2024, the company's cash, cash equivalents, short-term investments, and restricted cash were $49.7 million.
OrthoPediatrics continues to seek talented professionals to join their mission. Interested candidates can visit their website to learn about current openings or submit their resumes to careers@orthopediatrics.com. For the latest updates, news, and developments, shareholders and potential investors can find the most recent information on OrthoPediatrics Corp. through this page.
OrthoPediatrics Corp (Nasdaq: KIDS) will have key executives participating in a fireside chat at the Stifel 2021 Virtual Healthcare Conference on November 15, 2021, at 10:00 AM ET. The executives include President & CEO Dave Bailey, COO and CFO Fred Hite, and Executive Chairman Mark Throdahl. The event will feature a webcast format and include one-on-one meetings. An audio replay of the presentation will be made available for 90 days on the company's investor relations website, showcasing their dedicated focus on pediatric orthopedic advancements.
OrthoPediatrics Corp. (KIDS) has received a Silver metal designation in the "COVID Stops Here" campaign for achieving an 80%+ vaccination rate at its Indiana headquarters. This recognition highlights the importance of widespread vaccinations in combatting COVID-19, particularly the Delta variant. OrthoPediatrics' President emphasized the company's commitment to the health and safety of its employees throughout the pandemic. The campaign, promoted by the Indiana Chamber of Commerce, aims to encourage more organizations to prioritize COVID-19 vaccinations.
OrthoPediatrics Corp. (KIDS) has announced preliminary third quarter 2021 revenue of approximately $25.1 million, a 13% increase from $22.2 million in the same period last year. However, the revenue was impacted by increased COVID-19 Delta variant cases and RSV cases affecting children's hospitals along with hospital staff shortages. The company maintains its 2021 total revenue guidance of $97 million to $101 million. These figures are preliminary and subject to audit adjustments.
A conference call is scheduled for November 4, 2021.
OrthoPediatrics Corp. (Nasdaq: KIDS) announced its Platinum-level sponsorship for the AACPDM Annual Meeting, occurring virtually from October 6-9, 2021. The company will provide scholarships, educational support, and showcase products at the event. OrthoPediatrics emphasizes its commitment to pediatric orthopedic education, having recently participated in the Scoliosis Research Society meeting and the POST Course, which trains orthopedic residents in pediatric surgical techniques. President David Bailey highlighted the positive impact of their educational support in advancing the field.
OrthoPediatrics Corp. (Nasdaq: KIDS) has announced a 5-year exclusive distribution agreement with SeaSpine Orthopedics to distribute the 7D Surgical FLASH™ Navigation platform for pediatric applications. This agreement allows OrthoPediatrics to enhance surgical workflows and patient safety in pediatric orthopedic surgeries by utilizing radiation-free technology. The FLASH Navigation system, featuring innovative camera-based technology, eliminates the need for intra-operative CT and fluoroscopy, significantly reducing radiation exposure. This partnership aligns with OrthoPediatrics' commitment to pediatric orthopedics and innovation.
OrthoPediatrics Corp. (Nasdaq: KIDS) reported a 96% revenue increase for Q2 2021, reaching $26.7 million compared to $13.6 million in Q2 2020. U.S. revenue rose 79% to $21.7 million, while international revenue surged 243% to $5.0 million. Key drivers included substantial growth in Trauma & Deformity (up 95%), Scoliosis (up 100%), and Sports Medicine (up 106%). Gross profit improved by 103% to $20.4 million, with a profit margin of 76.6%. The company increased its full-year revenue guidance to $97-$101 million, indicating strong momentum despite potential COVID-19 challenges.
OrthoPediatrics Corp. (Nasdaq: KIDS) announces a five-year extension of its partnership with Mighty Oak Medical, prolonging their exclusive distribution of FIREFLY Technology until August 2027. This collaboration has enhanced pediatric surgical outcomes by providing 3D printed, patient-specific navigation guides that minimize intraoperative radiation. The partnership underscores a shared commitment to improving the lives of children facing orthopedic challenges.
OrthoPediatrics Corp. (Nasdaq: KIDS) announced its Diamond sponsorship for the 31st Annual Baltimore Limb Deformity Course, returning to a live format after a virtual event in 2020. The event will take place from August 4 to 8 in Baltimore, Maryland, where the company will offer registration scholarships to residents and fellows. OrthoPediatrics will also showcase its External Fixation portfolio through hands-on demonstrations and workshops. Newly appointed CEO David Bailey emphasized the event's significance in pediatric orthopedic education.
OrthoPediatrics Corp. (NASDAQ: KIDS) is set to announce its second quarter 2021 financial results on August 5, 2021, prior to market opening. A conference call will follow at 8:00 a.m. ET, providing insights into the financial performance. Interested parties can join via dial-in numbers or online webcast. OrthoPediatrics, established in 2006, focuses exclusively on pediatric orthopedics, offering 36 surgical systems across major categories such as trauma, scoliosis, and sports medicine. The company distributes globally, affecting pediatric orthopedic care.
OrthoPediatrics Corp. (NASDAQ: KIDS) has launched its 6.5mm/7.3mm Slipped Capital Femoral Epiphysis (SCFE) Cannulated Screw system after receiving FDA 510(k) clearance. This innovative system features fully and partially threaded screws designed specifically for pediatric patients, available in 2mm increments. The addition expands OrthoPediatrics' offerings, which now includes screws in multiple sizes to meet the needs of pediatric orthopedic surgeons. This launch reinforces the company's commitment to advancing pediatric orthopedic care.
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