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. (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.
FAQ
What is the current stock price of OrthoPediatrics (KIDS)?
What is the market cap of OrthoPediatrics (KIDS)?
What does OrthoPediatrics Corp. do?
What are some of OrthoPediatrics' key products?
What were OrthoPediatrics' financial highlights for 2023?
How did OrthoPediatrics perform in the first quarter of 2024?
What recent acquisition did OrthoPediatrics make?
How much cash and equivalents did OrthoPediatrics have as of March 31, 2024?
What is OrthoPediatrics' focus in pediatric orthopedics?
Where can I learn about career opportunities at OrthoPediatrics?
Who can I contact for investor relations at OrthoPediatrics?
What recent financial guidance did OrthoPediatrics issue?
