OrthoPediatrics Quarterly Loss Widens

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Warsaw-based OrthoPediatrics Corp. (Nasdaq: KIDS) is reporting a first quarter net loss of $10.4 million, compared to a net loss of $4.9 million during the same period last year. Chief Executive Officer Mark Throdahl says despite the loss, the company’s first quarter results reflect the resilience of the business.

“With revenue growth exceeding 30% year-over-year, adjusted EBITDA and gross margins continuing to improve, and meaningful progress across all product categories, OrthoPediatrics is well positioned for sustained growth as we advance toward recovery from the COVID-19 pandemic,” said Throdahl. “We are particularly encouraged by the 19% growth in Trauma and Deformity and 60% growth in Scoliosis, both of which are seeing increased momentum after having been impacted by the deferral of elective surgeries in 2020. In addition to achieving 26% domestic sales growth, International sales grew 56%, with sales agencies growing 122% and, most critically, stocking distributors growing 15% in the quarter.”

You can connect to the full earnings report by clicking here.