OrthoPediatrics Corp. Reports Fourth Quarter and Full Year 2024 Financial Results

Core Viewpoint - OrthoPediatrics Corp. reported record financial results for the full year 2024, with total revenue of $204.7 million, a 38% increase from the previous year, and significant growth in adjusted EBITDA, indicating strong operational performance and market position in pediatric orthopedics [1][5][15]. Financial Performance - Total revenue for Q4 2024 was $52.7 million, a 40% increase from $37.6 million in Q4 2023, driven by growth in Global Trauma and Deformity, Scoliosis, and OPSB segments [4][7]. - Full year 2024 revenue reached $204.7 million, up 38% from $148.7 million in 2023, with U.S. revenue increasing by 45% to $161.2 million [5][7]. - Adjusted EBITDA for Q4 2024 was $3.0 million, compared to $1.3 million in Q4 2023, while full year adjusted EBITDA was $8.5 million, up from $5.0 million in 2023 [15][16]. Revenue Breakdown - U.S. revenue for Q4 2024 was $42.9 million, a 52% increase from $28.3 million in Q4 2023, representing 81% of total revenue [4][31]. - International revenue for Q4 2024 was $9.8 million, a 5% increase from $9.4 million in Q4 2023, accounting for 19% of total revenue [4][31]. - Trauma and Deformity revenue for Q4 2024 was $36.4 million, a 35% increase from $27.1 million in Q4 2023, while Scoliosis revenue increased by 62% to $15.6 million [6][31]. Operating Expenses - Total operating expenses for Q4 2024 were $49.6 million, a $14.8 million increase from $34.8 million in Q4 2023, primarily due to increased sales volume and the addition of Boston O&P [10][12]. - Sales and marketing expenses rose by 31.1% to $16.8 million in Q4 2024, while general and administrative expenses increased by 28.2% to $24.4 million [11][12]. Net Loss and Cash Flow - Net loss for Q4 2024 was $16.1 million, compared to a net loss of $6.7 million in Q4 2023, with net loss per share of $0.69 [15][16]. - The company reduced free cash flow usage by 70% in Q4 2024 compared to the third quarter of 2024, anticipating the first full quarter of positive free cash flow in Q4 2025 [7][15]. Future Guidance - For full year 2025, the company expects revenue to be in the range of $235.0 million to $242.0 million, representing growth of 15% to 18% compared to 2024 [18].