OrthoPediatrics Corp. Announces Preliminary Unaudited Financial Highlights For Q4 & FY23; Sees Q4 Revenue $37.6M Vs $37.77M Est.; FY23 Revenue $148.7M Vs $148.88M Est.; Sees FY24 Revenue $197M-$200M Vs $177.7M Est
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OrthoPediatrics Corp. (NASDAQ:KIDS) reported preliminary unaudited Q4 2023 revenue of $37.6M, slightly below the $37.77M estimate, and FY23 revenue of $148.7M, just shy of the $148.88M estimate. The company experienced a 21% growth in Q4 and 22% growth for FY23 compared to the previous year. For FY24, OrthoPediatrics forecasts revenue between $197M-$200M, significantly above the $177.7M estimate, including contributions from the recent Boston O&P acquisition. The acquisition is expected to be accretive to adjusted EBITDA in 2024 and to revenue growth in 2025. OrthoPediatrics has entered into a new credit agreement with MidCap Financial for up to $80M and drew an initial $10M from the term loan in advance of the acquisition.
January 08, 2024 | 1:23 pm
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POSITIVE IMPACT
OrthoPediatrics Corp. reported solid growth in Q4 and FY23, with revenues slightly below estimates. The company's FY24 revenue forecast is well above expectations, indicating strong future performance, particularly factoring in the Boston O&P acquisition.
The positive growth figures and the bullish revenue forecast for FY24 suggest a strong outlook for OrthoPediatrics, which may lead to an increase in investor confidence and a potential rise in the stock price in the short term. The acquisition of Boston O&P is expected to contribute positively to EBITDA and revenue, further supporting the stock's potential upside. However, the slight miss on revenue estimates for Q4 and FY23 could temper some of the immediate investor enthusiasm.
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