OrthoPediatrics (KIDS) Announces Prelim Q3 Revenue of $25.1M; Reiterates 2021 Revenue Guidance
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OrthoPediatrics Corp. (Nasdaq: KIDS), a company focused exclusively on advancing the field of pediatric orthopedics, today announced preliminary revenue for the third quarter ended September 30, 2021 and provided a related business update.
Preliminary unaudited third quarter 2021 revenue is expected to be approximately $25.1 million, up 13% when compared to revenue of $22.2 million in the third quarter 2020. The third quarter 2021 revenue was impacted by increased COVID-19 Delta cases as well as respiratory syncytial virus (RSV) cases within the children’s hospitals combined with hospital staff shortages. Despite this impact, the Company reiterates its 2021 total revenue guidance range of $97 to $101 million. The preliminary quarterly revenue estimate for 2021 included in this press release is prior to the completion of review and audit procedures by the Company’s independent registered public accounting firm and therefore subject to adjustments.
OrthoPediatrics will host a conference call on Thursday, November 4, 2021, at 8:00 a.m. ET to discuss the results. The dial-in numbers are (855) 289-4603 for domestic callers and (614) 999-9389 for international callers. The conference ID number is 8161847. A live webcast of the conference call will be available online from the investor relations page of the OrthoPediatrics’ corporate website at www.orthopediatrics.com.
Forward-Looking StatementsThis press release includes "forward-looking statements" within the meaning of U.S. federal securities laws, including the statements regarding OrthoPediatrics’ preliminary revenue for the third quarter ended September 30, 2021, and other statements identified by the use of words such as "may," "might," "will," "should," "expect," "plan," "anticipate," "could," "believe," "estimate," "project," "target," "predict," "intend," "future," "goals," "potential," "objective," "would" and other similar expressions. Forward-looking statements involve risks and uncertainties, many of which are beyond OrthoPediatrics’ control. Important factors could cause actual results to differ materially from those in the forward-looking statements, including, among others: the risks related to COVID-19, the continued impact such pandemic may have on the demand for our products, and our ability to respond to the related challenges; and the risks, uncertainties and factors set forth under "Risk Factors" in OrthoPediatrics’ Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on March 11, 2021 as updated and supplemented by our other SEC reports filed from time to time. Forward-looking statements speak only as of the date they are made. OrthoPediatrics assumes no obligation to update forward-looking statements to reflect actual results, subsequent events, or circumstances or other changes affecting such statements except to the extent required by applicable securities laws.
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