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Sep 30, 2023
Paragon 28 Q3 2023 Earnings Report
Paragon 28 reported financial results for the third quarter of 2023 and reaffirmed its 2023 net revenue guidance.
Key Takeaways
Paragon 28's consolidated net revenue for Q3 2023 was $52.8 million, representing a 14.7% increase compared to Q3 2022. The company reported a net loss of $8.3 million for the quarter, an improvement compared to the $9.7 million net loss in the same period last year. They reaffirmed their 2023 net revenue guidance of $214 million to $218 million.
Consolidated net revenue for the third quarter of 2023 was $52.8 million, representing 14.7% growth compared to the third quarter of 2022.
U.S. net revenue for the third quarter of 2023 was $44.6 million, representing 11.5% growth compared to the prior year period.
International net revenue for the third quarter of 2023 was $8.2 million, representing 36.2% growth compared to the prior year period.
Net loss was $8.3 million for the third quarter of 2023, a decrease of 14.3%, compared to a net loss of $9.7 million for the third quarter of 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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