WARSAW, Ind. (Inside INdiana Business) — Warsaw-based OrthoPediatrics Corp. (Nasdaq: KIDS) is reporting a full-year net loss of $13.7 million in 2019, compared to a loss of $12 million the previous year. Despite the drop, Chief Executive Officer Mark Throdahl says the pediatric medical device manufacturer saw record full-year revenue of more than $72 million.
Throdahl says the revenue growth reflects the company’s systematic execution of all of its growth initiatives.
“As we look ahead to 2020, we are confident in our ability to continue to execute on our growth initiatives that will support full-year 2020 revenue guidance of 22% to 24%,” Throdahl said in a news release. “We believe investing $19-$21 million in consigned sets for 2020 will allow us to focus on deploying capital-efficient systems and begin realizing the revenue impact from the full roll-out of our recent product launches.”
You can view the full earnings report by clicking here.