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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), a company dedicated to advancing pediatric orthopedics, has announced an upcoming investor day on September 12, 2024, in New York City. The event, starting at 10:30 AM ET, will provide important updates on the company's:
- Specialty Bracing business strategy
- Product pipeline
- Financial outlook
A key feature of the event will be a KOL surgeon panel. Investors interested in attending can register by contacting the investor relations department at hannah@gilmartinir.com by September 6, 2024. For those unable to attend in person, a live webcast will be available, with a recording accessible later on the company's investor relations website.
OrthoPediatrics Corp. (Nasdaq: KIDS) reported strong Q2 2024 financial results, with record revenue of $52.8 million, up 33% year-over-year. The company helped a record 32,000 children, a 52% increase from Q2 2023. Domestic revenue grew 39% to $41.2 million, while international revenue increased 16% to $11.6 million. Trauma & Deformity revenue rose 37%, Scoliosis revenue grew 26%, and Sports Medicine/Other revenue increased 17%.
The company reaffirmed its full-year 2024 revenue guidance of $200.0-$203.0 million, representing 34-36% growth. OrthoPediatrics also announced a financing agreement with Braidwell, LP for up to $100 million in capital, strengthening its balance sheet.
OrthoPediatrics Corp. (NASDAQ: KIDS) has secured a private financing arrangement with Braidwell LP, providing up to $100 million in capital. The deal includes a $50 million term loan and $50 million in convertible notes. The term loan has an interest rate of SOFR + 6.50%, while the convertible notes accrue interest at 4.75% annually. The notes are convertible into common stock at $40.98 per share, a 30% premium to recent trading prices.
The company plans to use the funds to repay existing debt, cover transaction fees, and support general corporate purposes. Additionally, OrthoPediatrics' Board has approved a $5 million stock repurchase program. This financing is expected to strengthen the company's balance sheet and provide flexibility for strategic growth initiatives, particularly in expanding OPSB clinics at children's hospitals nationwide.
OrthoPediatrics Corp. (Nasdaq: KIDS), a company dedicated to advancing pediatric orthopedics, has announced its schedule for releasing second quarter 2024 financial results. The company will unveil its financial performance on Monday, August 5, 2024, after the market closes. Following this, OrthoPediatrics will host a conference call on Tuesday, August 6, 2024, at 8:00 a.m. ET to discuss the results in detail.
Investors interested in the call can access a live and archived webcast of the event through the company's website at www.orthopediatrics.com, specifically on the Investors page in the Events & Presentations section. The webcast will remain available for replay for at least 90 days after the event, providing ample opportunity for stakeholders to review the information.
OrthoPediatrics Corp. (Nasdaq: KIDS), a company dedicated to pediatric orthopedics, announced participation in the Truist Securities MedTech Conference. President & CEO Dave Bailey will join a fireside chat on June 18, 2024, at 4:45 pm ET in Boston, MA. An audio webcast of the discussion will be accessible on OrthoPediatrics' investor relations website, with a replay available post-event.
OrthoPediatrics Corp. (NASDAQ: KIDS) announced its continued sponsorship at the 2024 Pediatric Orthopaedic Society of North America (POSNA) and European Paediatric Orthopaedic Society (EPOS) annual meeting.
The company featured its expanding range of pediatric-specific orthopedic solutions at its exhibit booth. It sponsored a session on decision-making in the orthopedic management of neuromuscular patients, led by physicians from top children's hospitals.
OrthoPediatrics is deeply committed to supporting POSNA and EPOS, offering educational grants and scholarships. It remains the only Emerald Sponsor of the meeting. President & CEO David Bailey emphasized the importance of collaboration with these organizations to advance pediatric orthopedics and praised the productive engagement with thought leaders.
OrthoPediatrics Corp. reported a 41% increase in revenue for the first quarter of 2024 compared to the same period last year, reaching $44.7 million. The Company helped nearly 28,000 children, with domestic revenue up by 44% and international revenue up by 33%. OrthoPediatrics experienced growth in Trauma & Deformity, Scoliosis, and Sports Medicine/Other revenue streams. The acquisition of Boston Orthotics & Prosthetics enhanced the Specialty Bracing Division. The full year 2024 revenue guidance was increased to $200.0-$203.0 million from $197.0-$200.0 million, showcasing a growth of 34%-36% over the previous year.
OrthoPediatrics Corp. has received the 'Breakthrough Device' Designation from the FDA for its new eLLi Growing Rod System, designed to treat pediatric patients with scoliosis. The device aims to address severe pathology associated with Early Onset Scoliosis, providing increased force, enhanced reliability, and precision, while improving safety. The Breakthrough Program expedites the development and review of medical devices for life-threatening conditions, allowing for timely access to innovative technologies. OrthoPediatrics' CEO, David Bailey, expressed pride in the team's achievement and commitment to advancing pediatric healthcare.
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