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Mar 31, 2024
Paragon 28 Q1 2024 Earnings Report
Paragon 28's first quarter 2024 financial results were reported, showing record net revenue and growth in both U.S. and international markets.
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.
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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