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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. (KIDS) announced the launch of its RESPONSE 5.5/6.0 Cannulated Screw System, enhancing its RESPONSE™ Scoliosis portfolio. This marks the company's 47th surgical system, reinforcing its commitment to pediatric orthopedic innovation. The system features instruments and implants designed to improve screw placement accuracy and efficiency in surgeries. Early feedback from surgeons has been overwhelmingly positive, highlighting the system's effectiveness for the S1AI screw placement technique. The new product reflects OrthoPediatrics' dedication to advancing pediatric orthopedic solutions and its global reach in serving over 70 countries.
OrthoPediatrics Corp. (NASDAQ: KIDS) announced the upcoming release of its first quarter 2023 financial results on May 1, 2023, after market close. A conference call will be held on May 2, 2023, at 8:00 a.m. ET to discuss these results. The company, founded in 2006, specializes in pediatric orthopedics and currently offers 47 surgical systems targeting trauma, deformity, scoliosis, and sports medicine. OrthoPediatrics operates globally, distributing its products in the U.S. and over 70 additional countries. Investors can access the conference call via a live and archived webcast on the company's website.
OrthoPediatrics Corp. (Nasdaq: KIDS) will have its President & CEO, Dave Bailey, and COO & CFO, Fred Hite, participate in a fireside chat at the 22nd Annual Needham Virtual Healthcare Conference on April 17, 2023, at 8:45 am ET. This event highlights the company's dedication to pediatric orthopedics, having developed the most comprehensive product offerings in this field. Founded in 2006, OrthoPediatrics markets 47 surgical systems across trauma, scoliosis, and sports medicine, serving the U.S. and over 70 countries globally. An audio webcast will be available at their investor relations site, with a replay following the event.
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