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Sep 30, 2023
OrthoPediatrics Q3 2023 Earnings Report
OrthoPediatrics' Q3 2023 financial performance demonstrated strong revenue growth and increased profitability.
Key Takeaways
OrthoPediatrics Corp. reported record-setting quarterly revenue of $40.0 million for Q3 2023, a 14% increase compared to the same period last year. The company also achieved record Adjusted EBITDA of $3.6 million. They reiterated full year 2023 revenue guidance of $148.0 million to $151.0 million and raised adjusted EBITDA guidance to $4.0 million to $5.0 million for the full year of 2023.
Total revenue reached $40.0 million, up 14% from Q3 2022, with domestic revenue increasing by 11% and international revenue by 26%.
Trauma & Deformity revenue grew by 21%, while Scoliosis revenue increased by 3%; Sports Medicine/Other revenue decreased by 20%.
Adjusted EBITDA reached a record $3.6 million, compared to $1.9 million in Q3 2022.
The company launched the Pediatric Nailing Platform TIBIA system and the DF2® Brace, expanding its product offerings.
OrthoPediatrics
OrthoPediatrics
OrthoPediatrics Revenue by Segment
OrthoPediatrics Revenue by Geographic Location
Revenue by Segment
Trauma & Deformity Revenue
CapyFin.comScoliosis Revenue
CapyFin.comSports Medicine/Other Revenue
CapyFin.comRevenue by Geographic Location
U.S. Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
The Company reiterated its revenue guidance to be in the range of $148.0 million to $151.0 million, representing growth of 21% to 23% over 2022 revenue. The Company now expects annual set deployments of approximately $23.0 million and $4.0 million to $5.0 million of adjusted EBITDA for the full year of 2023.
Positive Outlook
- Revenue guidance of $148.0 million to $151.0 million, representing growth of 21% to 23% over 2022 revenue.
- Adjusted EBITDA guidance of $4.0 million to $5.0 million for the full year of 2023.
- Expecting annual set deployments of approximately $23.0 million.
- Strong balance sheet.
- Recent product portfolio expansion.
Challenges Ahead
- Not enough information to provide negative guidance
Revenue & Expenses
Visualization of income flow from segment revenue to net income