Welcome to our dedicated page for OrthoPediatrics news (Ticker: KIDS), a resource for investors and traders seeking the latest updates and insights on OrthoPediatrics stock.
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. (KIDS) reported a 31.2% year-over-year revenue increase for Q1 2021, totaling $21.5 million. Domestic revenue grew by 25.8%, while international revenue surged 55.6%. The company achieved notable revenue gains across various segments: Trauma & Deformity revenue rose 19.2%, Scoliosis by 60.4%, and Sports Medicine/Other by 120.5%. Despite an operating loss of ($6.0 million) and a net loss of ($10.4 million), OrthoPediatrics maintains a strong balance sheet with $78.0 million in cash. The company has raised its 2021 revenue guidance to a range of $94-98 million.
OrthoPediatrics Corp. (Nasdaq: KIDS) will participate in a fireside chat at the 7th Annual Truist Securities 2021 Life Sciences Summit on May 5, 2021. The session will feature company executives including President Dave Bailey, COO and CFO Fred Hite, and CEO Mark Throdahl. The fireside chat will provide insights into the advancement of pediatric orthopedics, showcasing OrthoPediatrics' commitment to improving children's lives through innovative surgical systems. The event will be available via a webcast at 1:00 PM ET, with a replay available for 90 days.
OrthoPediatrics Corp. (NASDAQ: KIDS) will release its Q1 2021 financial results on May 5, 2021, after the market closes. A conference call to discuss these results is scheduled for May 6, 2021, at 8:00 a.m. ET, with dial-in numbers for domestic and international participants. The company focuses exclusively on pediatric orthopedics, offering a broad range of surgical systems across trauma, scoliosis, and sports medicine. Its products are distributed in the U.S. and 44 other countries.
OrthoPediatrics Corp. (Nasdaq: KIDS) announced participation in the 20th Annual Needham Virtual Healthcare Conference on April 13, 2021. Key executives, including President Dave Bailey and CEO Mark Throdahl, will engage in a fireside chat at 12:45 PM ET. The event is accessible via webcast, and a replay will be available for 90 days. OrthoPediatrics, established in 2006, specializes in pediatric orthopedics and offers 35 surgical systems across various categories, including trauma and deformity management, scoliosis, and sports medicine.
OrthoPediatrics Corp. (Nasdaq: KIDS) has successfully performed over 500 ApiFix procedures for treating progressive adolescent idiopathic scoliosis (AIS), marking significant milestones for its innovative technology. The ApiFix offers a less invasive, motion-preserving option without the permanence of fusion, with a typical surgical procedure lasting under two hours and minimal recovery time. The company continues to gather data to establish a new standard for spinal deformity treatment. The ApiFix system is FDA and CE Mark approved, supported by 46 patents worldwide.
OrthoPediatrics reported full year 2020 revenue of $71.1 million, a 2% decline from 2019, impacted by COVID-19's effect on elective surgeries. Q4 revenue was $18.9 million, down slightly from 2019, with a 26.1% increase in domestic sales, but a 77.7% decline in international sales. The company expects 31-38% revenue growth in 2021, projecting sales of $93-$98 million. Notably, operating expenses rose 59.4% in Q4 due to legal settlements, leading to a net loss of $14.0 million for the quarter and $32.9 million for the year.
OrthoPediatrics Corp. (NASDAQ: KIDS) announced that over 200,000 children with orthopedic conditions have been treated using its products as of March 2021. Founded in 2006, the company focuses exclusively on pediatric orthopedics, providing tailored surgical solutions that address the specific needs of children. OrthoPediatrics offers 35 surgical systems that cater to trauma, scoliosis, and sports medicine procedures. The company's mission remains dedicated to enhancing the quality and variety of treatments available for young patients globally.
OrthoPediatrics Corp. (NASDAQ: KIDS) will release its Q4 and full-year 2020 financial results on March 10, 2021, after market close. The company is ensuring accurate accounting for complex transactions, including the acquisition of ApiFix and the transition to sales agencies in three European markets. A conference call will follow on March 11, 2021, at 8:00 a.m. ET to discuss these results. OrthoPediatrics specializes in pediatric orthopedics and markets 35 surgical systems in the U.S. and 43 other countries.
OrthoPediatrics Corp. (NASDAQ: KIDS) was recognized as one of the 2021 Best Places to Work in Indiana, marking the fifth time the company has received this honor. CEO Mark Throdahl highlighted the significance of this award amidst the COVID-19 pandemic, attributing it to valuable employee feedback. The awards program, managed by the Indiana Chamber of Commerce and Best Companies Group, evaluated companies based on workplace policies and employee surveys, with the latter accounting for 75% of the total score. Final rankings will be revealed at an awards ceremony on May 6, 2021.
OrthoPediatrics Corp. (Nasdaq: KIDS) has launched APIFIX.COM, a website dedicated to educating families and healthcare providers about the ApiFix procedure for treating progressive adolescent idiopathic scoliosis (AIS). With a focus on patient empowerment, the new site offers comprehensive information about AIS and the advantages of the ApiFix system, a less invasive alternative to spinal fusion. The company has partnered with 20 U.S. clinical centers for a post-approval study registry to monitor the safety and efficacy of this treatment. ApiFix's innovation is supported by 46 patents worldwide.
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