Company Overview - OrthoPediatrics Corp. is focused exclusively on advancing pediatric orthopedics, having developed a comprehensive product offering to improve the lives of children with orthopedic conditions [3] - The company markets over 80 products across three major categories: trauma and deformity, scoliosis, and sports medicine/other procedures [3] - OrthoPediatrics distributes its products in the United States and over 70 countries globally [3] Upcoming Event - The company will participate in a fireside chat at the 45 Canaccord Genuity Annual Growth Conference on August 13, 2025, at 11:00 am ET [2] - An audio webcast of the discussion will be available on the OrthoPediatrics investor relations website, with a replay accessible after the event [2][4] Leadership Participation - Dave Bailey, President & CEO, and Fred Hite, COO and CFO, will represent the company during the fireside chat [1]

Company Overview - OrthoPediatrics Corp. is focused exclusively on advancing pediatric orthopedics and has developed a comprehensive product offering to improve the lives of children with orthopedic conditions [4] - The company markets over 80 products across three major categories: trauma and deformity, scoliosis, and sports medicine/other procedures [4] - OrthoPediatrics distributes its products in the United States and over 70 countries globally [4] Product Launch - The company announced the US launch of the 3P™ Pediatric Plating Platform™ Hip System, designed for treating proximal femur fractures and deformities [1] - The 3P Hip System includes a Beam Screw construct and Locking Proximal Femur Plates available in Infant, Child, and Adolescent sizes, integrating advanced implant and instrument technology [3] - The first surgical case using the 3P Pediatric Plating Platform has been completed with positive feedback, and over 10 cases were booked in August alone, indicating strong initial demand [3] Market Position and Strategy - The launch of the 3P Pediatric Plating Platform marks the company's commitment to expanding its plating portfolio in pediatric orthopedics [3] - The system aims to address evolving demands for implants by providing improved precision and additional fixation options for surgeons [2] - The company is focused on building a comprehensive suite of products within the Trauma & Deformity Correction category [3]

Core Viewpoint - OrthoPediatrics Corp. is set to release its second quarter 2025 financial results on August 5, 2025, and will host a conference call to discuss these results [1]. Company Overview - OrthoPediatrics Corp. was founded in 2006 and focuses exclusively on pediatric orthopedics, offering a comprehensive range of over 80 products [3]. - The company serves three major categories within the pediatric orthopedic market: trauma and deformity, scoliosis, and sports medicine/other procedures [3]. - OrthoPediatrics distributes its products in the United States and over 70 countries globally, emphasizing its commitment to improving the lives of children with orthopedic conditions [3]. Investor Information - Investors can access a live and archived webcast of the conference call on the company's website, which will be available for replay for at least 90 days after the event [2]. - The conference call is scheduled for August 5, 2025, at 4:30 p.m. ET [1].

Core Insights - OrthoPediatrics Corp. has reached a significant milestone in the Global POISE Study, with over 600 implants being observed across more than 300 pediatric patients [1][2][4] Group 1: Global POISE Study Overview - The Global POISE Study is a multi-center, post-market, prospective clinical follow-up study aimed at assessing the safety and efficacy of OrthoPediatrics' implant devices [2] - The study, launched in 2023, currently includes 13 active sites across Canada, the United States, Australia, New Zealand, and South Africa, with ongoing data collection [2][3] - The study focuses on verifying implant survival and identifying any device-related adverse events [2] Group 2: Study Impact and Future Directions - Insights from the Global POISE Study will help refine OrthoPediatrics devices to better meet the needs of children with orthopedic conditions [3] - The study aims to broaden its reach by enrolling additional patients across 17 different implant types to enhance understanding of safety and long-term effectiveness [3] Group 3: Company Background - OrthoPediatrics Corp. was founded in 2006 and focuses exclusively on pediatric orthopedics, offering over 80 products across trauma and deformity, scoliosis, and sports medicine categories [6] - The company distributes its products in the United States and over 70 countries globally, emphasizing its commitment to improving the lives of children with orthopedic conditions [6]

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Core Insights - The Leukemia & Lymphoma Society (LLS) has partnered with Kroger's Dallas Division to raise funds for The Dare to Dream Project, aimed at improving treatments for pediatric blood cancer patients and providing support for their families [1][2][4] Group 1: The Dare to Dream Project - The Dare to Dream Project is a $175 million campaign focused on funding pediatric blood cancer research, advocating for healthcare policy changes, and expanding support services for affected children and families [8] - Only 5% of cancer drugs have been approved for first-time use in children, and 80% of childhood cancer survivors face chronic health issues due to their treatments [3] Group 2: Fundraising Efforts - From May 14 to June 3, 2025, Kroger encourages customers to donate at checkout in 110 stores across North and East Texas and Louisiana to support LLS's Dare to Dream Project [2] - Funds raised will exclusively benefit the life-saving work of The Dare to Dream Project, helping to ensure better treatment outcomes for children with blood cancer [1][2] Group 3: LLS's Commitment - LLS is pioneering pediatric blood cancer research, including the establishment of the first-ever pediatric AML Data Commons and the launch of the LLS PedAL Master Clinical Trial [4] - The organization has been dedicated to improving the quality of life for blood cancer patients and their families for over 75 years [6]

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements (unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) OrthoPediatrics Corp.'s unaudited Q1 2025 financial statements report a **$10.7 million** net loss, with total assets at **$470.3 million** and liabilities at **$123.1 million** [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2025, total assets decreased slightly to **$470.3 million**, driven by lower cash, while total liabilities increased to **$123.1 million**, reducing stockholders' equity Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash | $33,439 | $43,820 | | Inventories, net | $119,752 | $117,005 | | Total current assets | $232,059 | $237,173 | | Total assets | $470,250 | $473,209 | | **Liabilities & Equity** | | | | Accounts payable - trade | $14,199 | $8,908 | | Total current liabilities | $37,505 | $33,962 | | Total liabilities | $123,104 | $118,643 | | Total stockholders' equity | $347,146 | $354,566 | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Net revenue for Q1 2025 increased **17.3%** to **$52.4 million**, but operating loss widened to **$11.0 million** due to increased general and administrative expenses, resulting in a **$10.7 million** net loss Condensed Consolidated Statements of Operations (in thousands, except per share data) | Metric | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Net revenue | $52,411 | $44,685 | | Gross profit | $38,262 | $32,174 | | Operating loss | $(10,981) | $(9,723) | | Net loss | $(10,659) | $(7,805) | | Net loss per share (basic and diluted) | $(0.46) | $(0.34) | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities improved to **$4.2 million** in Q1 2025, but overall cash, cash equivalents, and restricted cash decreased by **$10.3 million**, ending at **$35.4 million** Condensed Consolidated Statements of Cash Flows Highlights (in thousands) | Cash Flow Activity | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(4,156) | $(6,690) | | Net cash used in investing activities | $(5,987) | $(3,679) | | Net cash used in financing activities | $(126) | $(573) | | **Net decrease in cash, cash equivalents and restricted cash** | **$(10,348)** | **$(9,463)** | | Cash, cash equivalents and restricted cash, end of period | $35,429 | $23,564 | [Notes to Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail accounting policies, the **Boston O&P acquisition**, a new **$100 million credit facility**, revenue growth from U.S. sales and Trauma/Deformity, and ongoing legal proceedings - On January 5, 2024, the Company acquired Boston Brace International, Inc. ("Boston O&P") for a total consideration of **$21.8 million**, consisting of **$21.5 million** in cash and **$0.2 million** in common stock[37](index=37&type=chunk)[39](index=39&type=chunk) - In August 2024, the company entered into a new credit agreement with Braidwell LP, including a **$25 million** initial term loan (with a **$25 million** delayed draw option) and issued **$50 million** in **4.75%** convertible senior notes due **2030**. This replaced the previous MidCap credit facility[53](index=53&type=chunk)[60](index=60&type=chunk)[68](index=68&type=chunk) Revenue by Geography and Category (Q1 2025 vs Q1 2024, in thousands) | Category | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | **By Geography** | | | | U.S. | $40,891 | $34,305 | | International | $11,520 | $10,380 | | **By Product** | | | | Trauma and deformity | $37,867 | $33,302 | | Scoliosis | $13,664 | $10,203 | | Sports medicine/other | $880 | $1,180 | | **Total** | **$52,411** | **$44,685** | - The company is involved in a software ownership dispute with IMED Surgical, which re-initiated arbitration in September 2024. It is also a party to a wrongful death lawsuit related to its acquired Boston O&P business, for which it is indemnified by the sellers[93](index=93&type=chunk)[99](index=99&type=chunk)[101](index=101&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes **17% revenue growth** to strong product performance, while operating loss increased due to higher G&A costs, supported by **$60.8 million** in liquidity and new financing [Results of Operations](index=28&type=section&id=Results%20of%20Operations) Net revenue increased **17%** to **$52.4 million** driven by Trauma and Deformity and Scoliosis sales, while operating expenses grew **18%** due to higher sales and G&A costs Q1 2025 vs Q1 2024 Results of Operations (in thousands) | Line Item | Q1 2025 | Q1 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Net revenue | $52,411 | $44,685 | 17% | | Cost of revenue | $14,149 | $12,511 | 13% | | Sales and marketing expenses | $16,572 | $14,169 | 17% | | General and administrative expenses | $30,280 | $24,730 | 22% | | Research and development expenses | $2,351 | $2,998 | (22)% | | Net loss | $(10,659) | $(7,805) | 37% | - The **17%** revenue increase was driven by strong global performance. Trauma and deformity sales grew **14%** to **$37.9 million**, and Scoliosis sales grew **34%** to **$13.7 million**[125](index=125&type=chunk)[126](index=126&type=chunk)[127](index=127&type=chunk) - The **22%** increase in General and Administrative expenses was primarily due to additional personnel from clinic acquisitions and a **$1.0 million** increase in stock compensation[130](index=130&type=chunk) [Liquidity and Capital Resources](index=30&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2025, the company held **$60.8 million** in liquidity, improved operating cash flow, and secured a new **$100 million** financing arrangement to support capital needs - As of March 31, 2025, the company had cash, cash equivalents, restricted cash, and short-term investments totaling **$60.8 million**[135](index=135&type=chunk) - Net cash used in operating activities improved to **$4.2 million** for Q1 2025, compared to **$6.7 million** for Q1 2024[136](index=136&type=chunk)[137](index=137&type=chunk) - In August 2024, the company secured a **$100 million** financing arrangement with Braidwell LP, comprising a **$50 million** term loan facility and **$50 million** in convertible notes, to support its capital needs[140](index=140&type=chunk)[141](index=141&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=32&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risks are interest rate and foreign currency exchange rate fluctuations, with no material changes since the 2024 Annual Report - The company's greatest potential market risk exposures are interest rate risk from its indebtedness and foreign currency exchange rate risk[150](index=150&type=chunk) - No material changes in market risk have occurred since the 2024 Annual Report on Form 10-K[150](index=150&type=chunk) [Item 4. Controls and Procedures](index=32&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2025, with no material changes in internal control over financial reporting during the quarter - Management concluded that as of the end of the period, disclosure controls and procedures were effective[152](index=152&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that materially affected, or are reasonably likely to materially affect, internal controls[154](index=154&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=33&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in ordinary course legal proceedings, including a software dispute and a wrongful death lawsuit, with no expected material adverse effects - The company is involved in various legal proceedings arising in the ordinary course of business, with details on specific cases referenced in Note 12 of the financial statements[156](index=156&type=chunk) [Item 1A. Risk Factors](index=33&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors since the 10-K, except for expanded discussion on international business risks, including potential impacts from new U.S. tariffs - The company highlights risks of doing business internationally, including changes in trade policy, tariffs, and geopolitical relations[159](index=159&type=chunk)[161](index=161&type=chunk) - Recent U.S. trade policy changes, such as a **10%** baseline reciprocal tariff on imports, could significantly increase product costs and adversely impact financial results[160](index=160&type=chunk)[162](index=162&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=34&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered equity sales and has not repurchased shares under its approved stock repurchase program - There were no unregistered sales of equity securities in the quarter[163](index=163&type=chunk) - A stock repurchase program was approved in August 2024, but no shares have been repurchased under it[166](index=166&type=chunk) [Item 3. Defaults Upon Senior Securities](index=34&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities during the period - None[167](index=167&type=chunk) [Item 4. Mine Safety Disclosures](index=34&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) Not applicable, as the company reported no mine safety disclosures - None[168](index=168&type=chunk) [Item 5. Other Information](index=34&type=section&id=Item%205.%20Other%20Information) No additional Form 8-K information was reported, and no director or officer adopted or terminated Rule 10b5-1 trading arrangements during Q1 2025 - During the three months ended March 31, 2025, no director or officer adopted or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement[171](index=171&type=chunk) [Item 6. Exhibits](index=35&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the quarterly report, including agreements for acquisitions, debt financing, and required certifications

Financial Data and Key Metrics Changes - In Q1 2025, worldwide revenue reached $52.4 million, a 17% increase compared to Q1 2024 [31] - U.S. revenue was $40.9 million, reflecting a 19% increase and accounting for 78% of total revenue [32] - Adjusted EBITDA loss was reduced to $400,000, over 50% improvement from a loss of $1.1 million in Q1 2024 [37] - Free cash flow usage decreased by 36% to $8.4 million compared to the same period last year [37] - Cash, short-term investments, and restricted cash at the end of Q1 2025 totaled $60.8 million [37] Business Line Data and Key Metrics Changes - Trauma and Deformity (T&D) global revenue was $37.9 million, a 14% increase year-over-year [33] - Scoliosis global revenue reached $13.7 million, a 34% increase compared to the prior period [33] - The OPSB business showed strong growth, contributing to overall revenue growth and market share gains [8][21] Market Data and Key Metrics Changes - International revenue was $11.5 million, an 11% increase year-over-year, driven by increased procedure volumes [32] - Trauma replenishment growth was nearly 20%, while scoliosis grew greater than 20% in international markets [26] - The company has minimal exposure to tariff-related impacts, with 95% of COGS from domestic suppliers [11] Company Strategy and Development Direction - The company aims to support the treatment of 1 million children annually, focusing on profitable growth and cash generation [41] - Expansion of OPSB is a key growth driver, with plans for territory expansion and new product launches [17][20] - The company is committed to innovative product development, with several FDA approvals and new product launches planned [8][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining growth and profitability despite broader economic conditions [12] - The company anticipates increased momentum throughout 2025, driven by successful scaling of OPSB and innovative product launches [12] - Management remains cautious about summer months, traditionally strong for the business, and is focused on cash collection in international markets [48][49] Other Important Information - The company received FDA approval for multiple products, including the Vertiglyde system and the 3P Pediatric Plating Platform Hip System [8][16] - The company hosted 172 training experiences for over 2,245 healthcare professionals in Q1 2025 [29] - OrthoPediatrics was named one of the best places to work in Indiana for 2025, marking the ninth time on this list [30] Q&A Session Summary Question: Can you discuss the strong performance in the spine business and the impact of Vertiglyde? - Management noted strong growth in scoliosis, driven by high adoption rates and new accounts, with Vertiglyde expected to contribute positively [44][45] Question: Why is the revenue guidance conservative despite strong performance? - Management indicated caution due to the upcoming summer months and a focus on cash collection in international markets [48][49] Question: How does the 7D technology impact the adoption of scoliosis products? - Management confirmed that accounts with 7D technology are seeing increased adoption of scoliosis products, contributing to overall growth [56][57] Question: What are the plans for clinic expansion in Florida and Colorado? - Management expressed optimism about ongoing clinic performance and plans for further expansion in the U.S. and internationally [72][75] Question: Can you provide updates on the LE device submission and EU MDR products? - Management indicated positive discussions with the FDA regarding LE and plans to launch trauma and deformity products in Europe once EU MDR approval is secured [82][88]

Financial Data and Key Metrics Changes - In Q1 2025, worldwide revenue reached $52.4 million, a 17% increase compared to Q1 2024 [31] - U.S. revenue was $40.9 million, reflecting a 19% increase and accounting for 78% of total revenue [32] - International revenue totaled $11.5 million, an 11% increase, representing 22% of total revenue [33] - Adjusted EBITDA loss was reduced to $400,000, improving over 50% from a loss of $1.1 million in Q1 2024 [37] - Free cash flow usage decreased by 36% to $8.4 million compared to the same period last year [37] Business Line Data and Key Metrics Changes - Trauma and Deformity global revenue was $37.9 million, a 14% increase driven by trauma products and OPSB [33] - Scoliosis global revenue reached $13.7 million, a 34% increase, primarily due to increased sales of Response and ApiFix systems [34] - The T and D business grew 14%, supported by strong market share gains and prior investments in set allocation [13] Market Data and Key Metrics Changes - Over 20% of global revenue is trauma-related, which is largely non-elective, providing stability against economic downturns [12] - International growth was double-digit, but impacted by lower sales in Latin America [26] - Strong adoption trends were noted in Canada and Australia, contributing to international growth [26] Company Strategy and Development Direction - The company aims to execute and scale OPSB, take market share in the surgical business, and continue innovative product launches [7] - Expansion into new territories, including North Carolina, is underway, with plans for additional territories in H2 2025 [18] - The company is focused on improving profitability and cash flow while maintaining growth [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining growth and profitability trajectories despite broader economic conditions [12] - The company is increasing its full-year revenue guidance to $236 million to $242 million, representing 15% to 18% growth [12] - Management remains cautious about summer months, traditionally strong for the business, and is monitoring international markets for cash collection opportunities [50] Other Important Information - The company received five FDA approvals in 2025, including major systems that will enhance its product offerings [9] - The company is actively pursuing EU MDR compliance to launch new products in Europe starting in H2 2025 [27] - OrthoPediatrics was recognized as one of the best places to work in Indiana for 2025, reflecting employee dedication [30] Q&A Session Summary Question: Can you discuss the strong performance in the spine business and the impact of VertiGlide? - Management noted strong growth in scoliosis, driven by high adoption rates and new accounts, with VertiGlide expected to contribute positively [45][46] Question: Why is the revenue guidance conservative despite strong performance? - Management indicated caution due to the upcoming summer months and a strategic approach to international markets to improve cash flow [48][50] Question: How does the 7D technology impact the adoption of scoliosis products? - Management confirmed that accounts with 7D technology are seeing increased adoption of scoliosis products, contributing to overall growth [58][60] Question: What is the outlook for the EU MDR and product launches? - Management expects the first approvals to focus on trauma and deformity products, which will modernize existing systems and drive market share [86][88] Question: Can you elaborate on the OPSB product launches? - Management confirmed plans for multiple launches in 2025, including products targeting pediatric hip dysplasia and innovative bracing solutions [95][97]

Financial Data and Key Metrics Changes - In Q1 2025, worldwide revenue reached $52.4 million, a 17% increase compared to Q1 2024 [32] - U.S. revenue was $40.9 million, reflecting a 19% increase and accounting for 78% of total revenue [33] - Adjusted EBITDA loss improved by over 50% year-over-year, from a loss of $1.1 million in Q1 2024 to a loss of $0.4 million in Q1 2025 [39] - Free cash flow usage decreased by 36% year-over-year, amounting to $8.4 million in Q1 2025 [39] Business Line Data and Key Metrics Changes - Trauma and Deformity (T&D) global revenue was $37.9 million, a 14% increase year-over-year [34] - Scoliosis global revenue increased by 34% to $13.7 million, driven by sales of Response, ApiFix, and 3D patient-specific braces [35][22] - The OPSB business showed strong growth, contributing to overall revenue growth and expanding market share [18] Market Data and Key Metrics Changes - International revenue grew by 11% to $11.5 million, representing 22% of total revenue [33] - U.S. market growth was strong, while Latin America experienced softness, impacting overall international performance [15][27] Company Strategy and Development Direction - The company aims to scale OPSB and increase market share through innovative product launches and strategic set deployments [7][13] - The focus remains on expanding clinic territories, with North Carolina being the latest addition, and potential for further expansion in the second half of 2025 [19][21] - The company is committed to becoming a profitable and cash-generative business while helping more children through its products [42][43] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining growth and profitability despite broader economic conditions, citing minimal exposure to tariffs [12][13] - The company anticipates revenue growth of 15% to 18% for the full year 2025, increasing guidance to $236 million to $242 million [13][40] - Management remains cautious about summer months, traditionally strong for the business, and is focused on improving cash collection in international markets [51][52] Other Important Information - The company received five FDA approvals in 2025, including significant systems like the Vertiglyde and 3P Pediatric Plating Platform Hip System [9][17] - The company hosted 172 training experiences for over 2,245 healthcare professionals in Q1 2025, enhancing surgeon education and product adoption [30] Q&A Session Summary Question: Can you discuss the strong performance in the spine business and the impact of Vertiglyde? - Management noted strong growth in scoliosis, driven by high adoption rates and new accounts, with Vertiglyde expected to contribute positively [46][47] Question: Why is the revenue guidance conservative despite strong performance? - Management indicated traditional caution regarding summer months and ongoing adjustments in international markets to improve cash flow [50][51] Question: How does the 7D technology impact the adoption of scoliosis products? - Management confirmed that accounts with 7D technology are seeing increased adoption of scoliosis products, contributing to overall growth [56][57] Question: What is the outlook for the EU MDR approval process? - Management expressed optimism about the EU MDR process, with plans to launch several products once approvals are secured [84][85] Question: Can you elaborate on the upcoming product launches in OPSB? - Management confirmed plans for multiple product launches in OPSB, including new bracing technologies and products for developmental hip dysplasia [92][93]