OrthoPediatrics (NSDQ:KIDS) posted first-quarter results that beat the overall consensus on Wall Street and increased its full-year guidance.
The Warsaw, Ind.–based company yesterday reported losses of -$10.4 million, or -54¢ per share, on sales of $21.5 million, for the three months ended March 31, for a sales growth of 31.2% compared with Q1 2020.
Adjusted to exclude one-time items, earnings per share were -25¢, 2¢ ahead of The Street, where analysts were looking for sales of $19.86 million.
“The company’s first-quarter results reflect the resilience of our business, steady execution of our strategy and the unwavering dedication of our team. 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.,” CEO Mark Throdahl said in a news release.
“I’m proud to report that the proactive steps the company took at the beginning of the pandemic have helped ensure a smooth path to recovery and position OrthoPediatrics as stronger today than it was before the outset of COVID-19. In addition, our success has been aided by the strategic acquisitions of Orthex, ApiFix, and Telos Partners as well as our continued investment in sets.”
OrthoPediatrics increase the low end of its revenue guidance to represent an estimate of $94 million to $98 million for the fiscal year.
Investors reacted by sending KIDS shares up nearly 10% to $61.86 apiece in morning trading today.