OrthoPediatrics Q1 2021 Earnings Report
Key Takeaways
OrthoPediatrics reported a strong first quarter with a 31.2% increase in revenue compared to the same period last year. The company saw growth in both domestic and international markets, as well as across all product categories. Gross profit margin improved, and the company is well-positioned for sustained growth.
Total revenue increased by 31.2% year-over-year to $21.5 million.
Domestic revenue grew by 25.8%, while international revenue increased by 55.6%.
Worldwide Trauma & Deformity revenue increased by 19.2%, Scoliosis revenue by 60.4%, and Sports Medicine/Other revenue by 120.5%.
The company maintained a strong balance sheet with approximately $78.0 million in cash, cash equivalents, short-term investments, and restricted cash.
OrthoPediatrics
OrthoPediatrics
OrthoPediatrics Revenue by Segment
OrthoPediatrics Revenue by Geographic Location
Forward Guidance
For full year 2021, the company is increasing the low end of its revenue guidance to 32-38% growth over full year 2020 or $94-98 million.
Positive Outlook
- Increased confidence in achieving guidance due to several tailwinds.
- ApiFix contribution.
- Direct sales in Germany, Austria, and Switzerland.
- Continued Orthex conversions.
- Scoliosis conversions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income