Paragon 28, headquartered in Englewood, Colorado, remains dedicated to improving patient outcomes through its range of orthopedic products and solutions. The company has not provided any specific guidance for the upcoming fiscal year or beyond.This financial update is based on a press release statement and should be considered preliminary until the company's financial results are finalized and officially reported. Further details regarding Paragon 28's performance and future expectations can be found in its filings with the Securities and Exchange Commission and through detailed analysis available on InvestingPro's comprehensive research platform.
Paragon 28, headquartered in Englewood, Colorado, remains dedicated to improving patient outcomes through its range of orthopedic products and solutions. The company has not provided any specific guidance for the upcoming fiscal year or beyond.This financial update is based on a press release statement and should be considered preliminary until the company's financial results are finalized and officially reported. Further details regarding Paragon 28's performance and future expectations can be found in its filings with the Securities and Exchange Commission and through detailed analysis available on InvestingPro's comprehensive research platform.
Paragon 28, headquartered in Englewood, Colorado, remains dedicated to improving patient outcomes through its range of orthopedic products and solutions. The company has not provided any specific guidance for the upcoming fiscal year or beyond.This financial update is based on a press release statement and should be considered preliminary until the company's financial results are finalized and officially reported. Further details regarding Paragon 28's performance and future expectations can be found in its filings with the Securities and Exchange Commission and through detailed analysis available on InvestingPro's comprehensive research platform.
Paragon 28, headquartered in Englewood, Colorado, remains dedicated to improving patient outcomes through its range of orthopedic products and solutions. The company has not provided any specific guidance for the upcoming fiscal year or beyond.
This financial update is based on a press release statement and should be considered preliminary until the company's financial results are finalized and officially reported. Further details regarding Paragon 28's performance and future expectations can be found in its filings with the Securities and Exchange Commission.
In other recent news, Paragon 28, a key player in the foot and ankle orthopedic market, has reported a substantial increase in revenue for the third quarter of 2024. The company's global revenue reached a record $62.3 million, marking an 18.1% increase from the previous year. The U.S. market contributed $51.2 million, while international markets experienced a significant 35.7% growth.
Paragon 28 also revealed improvements in operational efficiency, with a decrease in free cash flow usage and the first positive adjusted EBITDA since its IPO. The company has also raised its full-year net revenue guidance for 2024. The recent developments include the launch of 13 new products, such as the Phantom Fibula Nail System and a short stem tibia implant, which are expected to contribute to future growth.
The company's focus is on achieving EBITDA positivity in 2025 and cash flow positivity in 2026. Paragon 28 anticipates continued growth, potentially surpassing the historical growth of the broader foot and ankle market. Despite inventory levels being higher than industry standards, strategies are in place to reduce these. The company's total ankle franchise and new product offerings, such as the SMART 28 module, are expected to drive growth, as indicated by an increase in sales team productivity by 4% due to effective onboarding and enhanced product offerings.
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