OrthoPediatrics Q4 2023 Earnings Report
Key Takeaways
OrthoPediatrics Corp. announced its Q4 and full year 2023 financial results, with Q4 revenue increasing by 21% to $37.6 million compared to the same period last year. The company's growth was primarily driven by Global Trauma and Deformity, Domestic Scoliosis, and OPSB. The net loss for the quarter was $6.7 million, an improvement compared to the $7.8 million loss in the same period last year. Adjusted EBITDA for the fourth quarter of 2023 was $1.3 million as compared to a loss of $2.2 million for the fourth quarter of 2022.
Helped nearly 20,000 children in Q4 2023.
Q4 2023 revenue increased 21% year-over-year to $37.6 million.
U.S. revenue increased 24% and international revenue increased 13% in Q4 2023.
Gross profit for the fourth quarter of 2023 was $26.7 million, a $5.5 million increase compared to $21.2 million for the same period last year.
OrthoPediatrics
OrthoPediatrics
OrthoPediatrics Revenue by Segment
OrthoPediatrics Revenue by Geographic Location
Forward Guidance
The Company expects its revenue to be in the range of $197.0 million to $200.0 million, representing growth of 32% to 34% over 2023 revenue. The Company also expects its annual set deployment to be less than $20.0 million and expects to generate $8.0 million to $9.0 million of adjusted EBITDA for full year 2024.
Positive Outlook
- Revenue growth of 32% to 34% over 2023 revenue.
- Annual set deployment to be less than $20.0 million
- Adjusted EBITDA for full year 2024 between $8.0 million to $9.0 million.
- Strong revenue and profitability growth
- Company is in an extremely strong position for 2024
Revenue & Expenses
Visualization of income flow from segment revenue to net income