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Jun 30, 2023
Paragon 28 Q2 2023 Earnings Report
Paragon 28's second quarter 2023 financial results were reported, showing revenue growth and improved Adjusted EBITDA.
Key Takeaways
Paragon 28 reported a 20.0% increase in consolidated net revenue compared to Q2 2022, reaching $51.0 million. The company's gross margin was 82.6%, and the net loss was $10.9 million. Adjusted EBITDA improved by 17.0% compared to the previous year. The company reaffirms its 2023 net revenue guidance of $214 million to $218 million.
Consolidated net revenue increased by 20.0% to $51.0 million compared to Q2 2022.
U.S. net revenue grew by 14.9% to $42.3 million compared to the prior year period.
International net revenue increased by 53.4% to $8.7 million compared to the prior year period.
Adjusted EBITDA improved by 17.0% to a loss of $2.6 million compared to Q2 2022.
Forward Guidance
The Company reaffirms its prior 2023 net revenue guidance, and expects net revenue to be $214 million to $218 million, representing 19% and 20% reported and constant currency growth at the midpoint, respectively, compared to 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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