Paragon 28 Q1 2024 Earnings Report
Key Takeaways
Paragon 28 reported a strong start to 2024 with record net revenue of $61.1 million, representing a 17.4% increase year-over-year. The company saw growth in both U.S. and international markets, with U.S. revenue up 13.5% and international revenue up 42.2%. Despite the revenue growth, the company reported a net loss of $15.2 million and an adjusted EBITDA loss of $5.5 million.
Consolidated net revenue reached a record $61.1 million, a 17.4% increase year-over-year.
U.S. net revenue grew by 13.5% to $51.1 million.
International net revenue was a record $10.0 million, representing a 42.2% increase year-over-year.
The company reaffirms its prior 2024 net revenue guidance, and expects net revenue to be $249 million to $259 million.
Paragon 28
Paragon 28
Paragon 28 Revenue by Segment
Forward Guidance
The Company reaffirms its prior 2024 net revenue guidance, and expects net revenue to be $249 million to $259 million, representing 15.1% and 19.7% reported growth compared to 2023.
Positive Outlook
- Net revenue to be between $249 million and $259 million.
- Representing 15.1% and 19.7% reported growth compared to 2023.
- Assumes foreign currency translation rates remain consistent with current rates.
- Strong start in 2024.
- Increased surgeon activity in the U.S. and Internationally.
Revenue & Expenses
Visualization of income flow from segment revenue to net income