OrthoPediatrics announces first-quarter 2024 financial results
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Key takeaways:
- OrthoPediatrics announced its first-quarter 2024 financial results.
- OrthoPediatrics reported $44.7 million in revenue for the quarter.
- The company also reported helping nearly 28,000 children in the quarter.
OrthoPediatrics Corp. reported $44.7 million in total revenue for the first quarter of 2024, a 41% increase from the prior year period, according to a company press release.
The company also reported trauma and deformity revenue increased 42%, worldwide scoliosis revenue increased 44% and sports medicine and other revenue increased 5% in the first quarter of 2024 compared with the first quarter of 2023.
OrthoPediatrics also reported helping nearly 28,000 children in the first quarter of 2024, an increase of 47% from the first quarter 2023.
“I am excited about our positive start to the year, outperforming our expectations and delivering healthy revenue growth as we continue to take share across the entire business,” David Bailey, president and CEO of OrthoPediatrics, said in the release. “We have multiple levers, including continued legacy product growth, new product launches and a rapidly expanding specialty bracing business that are working together to drive continued growth and profitability. We will continue to advance our strategic initiatives and feel we are positioned well to capitalize on our opportunities for the remainder of 2024 and beyond.”
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