Paragon 28 Q3 2023 Earnings Report
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.
Paragon 28
Paragon 28
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.