Record revenue helps OrthoPediatrics narrow loss
WARSAW, Ind. (Inside INdiana Business) — Warsaw-based OrthoPediatrics Corp. (Nasdaq: KIDS) is reporting a full-year net loss of $16.2 million in 2021, compared to a loss of $33 million the previous year. Despite the loss, the pediatric orthopedic device manufacturer says it hit record annual revenue of $98 million.
The company is also reporting fourth quarter net income of $72,000, compared to a loss of $14 million during the same quarter in 2020.
“We are extremely proud of our 2021 performance and believe we have navigated through the pandemic very well – which we view as a testament to our durable business and strong commercial execution,” Chief Executive Officer David Bailey said in a news release. “Given COVID’s effect on children since September, we enter 2022 knowing the unshakable truth that there are more children who need our products than ever before. With the broadest product portfolio in the industry and our largest active surgeon base since inception, we are in a great position to recapture deferred procedures and help children in 2022 and beyond.”
OrthoPediatrics says its devices helped a full-year record of 38,000 children in 2021.
You can view the full earnings report by clicking here.