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) announced its acquisition of MD Orthopaedics for up to $19.6 million, enhancing its portfolio with a patented solution for treating clubfoot. The deal includes an upfront payment of $8.2 million in cash and $8.9 million in stock, plus $2.5 million in restricted stock vesting over three years. MD Orthopaedics, known for its Ponseti Method bracing systems, has positively impacted 300,000 children globally. By integrating this technology, OrthoPediatrics aims to tap into a $600 million market and expand its reach in non-surgical pediatric orthopedic treatments.
OrthoPediatrics Corp (Nasdaq: KIDS) announced participation in the 21st Annual Needham Virtual Healthcare Conference. Key executives, including President & CEO Dave Bailey, COO and CFO Fred Hite, and Executive Chairman Mark Throdahl, will engage in a fireside chat on April 12, 2022, at 12:45 PM ET. The event will be accessible via an audio webcast on the company’s investor relations website, with a replay available for 90 days post-event.
Founded in 2006, OrthoPediatrics focuses on pediatric orthopedic advancements, offering 36 surgical systems across trauma, scoliosis, and sports medicine.
OrthoPediatrics Corp. (Nasdaq: KIDS) has announced the limited launch of its innovative PediFlex™ Advanced Interlock Clamp System, enhancing pediatric orthopedic surgeries. This new technology addresses the issue of unwanted flexible nail migration in pediatric patients. The Interlock Clamps are compatible with intramedullary nails sized from 1.5mm to 4.5mm in stainless steel and titanium. The limited commercial launch in the U.S. will precede a global rollout later this year, demonstrating OrthoPediatrics' commitment to advancing pediatric orthopedic solutions.
OrthoPediatrics reported a 31% increase in Q4 2021 revenue, reaching $24.8 million. Full-year revenue reached $98.0 million, up 38% from 2020. Domestic revenue rose 24% while international jumped 150%. Despite an adjusted EBITDA loss of $0.2 million for 2021, it improved by $5.7 million from the prior year. The company guidance for 2022 anticipates revenue between $118 million and $121 million, with positive adjusted EBITDA expected. OrthoPediatrics helped over 38,000 children in 2021, showing strong market demand for its pediatric orthopedic products.
OrthoPediatrics Corp. (NASDAQ: KIDS) was the main sponsor of the 7th Annual International Children’s Spine Symposium held on February 25-26, 2022, in Orlando, Florida. The event featured lectures from renowned international experts and hands-on labs focused on pediatric spine issues. OrthoPediatrics showcased its innovative RESPONSE™ Scoliosis System and FIREFLY Pedicle Screw Navigation Guides. The company also highlighted its ApiFix System, a non-fusion alternative for scoliosis surgery, which is part of its expanding product line, originally acquired in 2020. OrthoPediatrics aims to enhance educational opportunities for pediatric orthopedic professionals.
OrthoPediatrics Corp. (Nasdaq: KIDS) has been named one of the '2022 Best Places to Work in Indiana,' marking the 6th time it has received this honor. The award, organized by the Indiana Chamber of Commerce and Best Companies Group, recognizes companies for their excellent workplace culture. The evaluation process involved a review of workplace policies and an employee survey, with the latter contributing 75% to the final score. The final rankings will be revealed at an awards ceremony on May 12, 2022.
OrthoPediatrics Corp. (KIDS) is set to release its fourth quarter and full year 2021 financial results on March 2, 2022, following market close. The company will host a conference call on March 3, 2022, at 8:00 a.m. ET to discuss the results, accessible via dial-in for both domestic and international callers and through a live webcast on its investor relations page. OrthoPediatrics specializes in pediatric orthopedics, offering 37 surgical systems across key categories including trauma, scoliosis, and sports medicine, with distribution extending to 45 countries.
OrthoPediatrics Corp. (Nasdaq: KIDS) announced preliminary unaudited revenue for Q4 and full year 2021. Q4 revenue is estimated at $24.8 million, a 31% increase from Q4 2020's $18.9 million. Domestic revenue rose 11%, while international revenue surged 363%. Full year 2021 revenue is expected to reach $98.0 million, reflecting 38% growth. Domestic sales grew 24%, and international sales increased 150%. The final financial results will be released in March 2022, as these figures are subject to audit adjustments.
Telos Partners LLC, a subsidiary of OrthoPediatrics Corporation (NASDAQ: KIDS), has appointed Scott Day as Senior VP and General Manager. This follows the leadership of Jason Inzana, who established a strong foundation for predictable revenue. Since the acquisition, Telos has doubled its team and expanded its client base, positioning itself for growth amid industry challenges. Day, with a successful track record in medical technology, aims to lead Telos through an aggressive growth phase while ensuring high-quality outcomes for clients.
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