Paragon 28 Announces Preliminary Unaudited Revenue for Fourth Quarter and Full Year 2024
Paragon 28, Inc. (NYSE:FNA) ("Paragon 28" or "P28"), a leading medical device company exclusively focused on the foot and ankle orthopedic market, today announced a range of its preliminary unaudited net revenue for the fourth quarter and full year ended December 31, 2024.
Preliminary unaudited net revenue for the fourth quarter of 2024 is expected to be in a range of $71.5 to $71.8 million, representing reported growth of approximately 18.0% to 18.5% compared to the fourth quarter of 2023.
Preliminary unaudited net revenue for the full year of 2024 is expected to be in a range of $255.9 to $256.2 million, representing reported growth of approximately 18.2% to 18.4%, compared to the full year of 2023.
Our estimated unaudited financial results as of and for the fourth quarter and full fiscal year ended December 31, 2024, presented above are preliminary and are subject to the close of the quarter and year, completion of our quarter-end and year-end closing procedures and further financial review. Our independent registered public accounting firm has not audited, reviewed, compiled or performed any procedures with respect to this preliminary financial information. Our actual results may differ from these estimates as a result of the completion of our quarter-end and year-end closing procedures, review adjustments and other developments that may arise between now and the time our financial results for the fourth quarter and full fiscal year are finalized.
"2024 has been a transformative year for Paragon 28, marked by significant achievements in growth, innovation, and operational efficiency. Our efforts across the business have delivered tangible results this year, positioning us for sustainable, profitable growth in the future," said Albert DaCosta, Chairman and CEO of Paragon 28, "Looking ahead to 2025, we are more excited than ever to build on this momentum and redefine what is possible in the foot and ankle market."
About Paragon 28, Inc.
Based in Englewood, Colo., Paragon 28 is a leading medical device company exclusively focused on the foot and ankle orthopedic market and is dedicated to improving patient lives. From the onset, Paragon 28® has provided innovative orthopedic solutions, procedural approaches and instrumentation that cover a wide range of foot and ankle ailments including fracture fixation, forefoot, ankle, progressive collapsing foot deformity (PCFD) or flatfoot, charcot foot and orthobiologics. The company designs products with both the patient and surgeon in mind, with the goal of improving outcomes, reducing ailment recurrence and complication rates, and making the procedures simpler, consistent, and reproducible.
Forward Looking Statements
Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to: Paragon 28's potential to shape a better future for foot and ankle patients; that Paragon 28 is positioned for sustainable, profitable growth in the future; and that Paragon 28 is more excited than ever to build on this momentum and redefine what is possible in the foot and ankle market. You are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are only predictions based on our current expectations, estimates, and assumptions, valid only as of the date they are made, and subject to risks and uncertainties, some of which we are not currently aware. Forward-looking statements should not be read as a guarantee of future performance or results and may not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. These forward-looking statements are based on Paragon 28's current expectations and inherently involve significant risks and uncertainties. Actual results, including the financial results for net revenue for the quarter and full fiscal year ended December 31, 2024, and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Paragon 28's business in general, see Paragon 28's current and future reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K/A for the fiscal year ended December 31, 2023 filed with the SEC on August 8, 2024 and its Quarterly Reports on Form 10-Q, as updated periodically with its other lings with the SEC. These forward-looking statements are made as of the date of this press release, January 13, 2025, and Paragon 28 assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law.
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