Sam Brusco, Associate Editor03.10.22
Foot and ankle orthopedic firm Paragon 28 reported financial performance for the fourth quarter and full year 2021.
The company posted Q4 revenue of $42.8 million, a 22% rise over the prior year’s Q4 driven by increased revenue per U.S. surgeon and U.S. sales force expansion as well as strong South Africa and UK growth.
Full year 2021 sales grew 33% over 2020 to $147.5 million.
“Our teams are foot and ankle specialists, and their focus, resilience, and passion for serving foot and ankle patients and surgeons drove our strong fourth quarter and full year revenue growth, further expanding our market share in the US and internationally,” Albert DaCosta, Paragon 28 chairman and CEO told the press. “I am thrilled with the team's execution in 2021, including receiving approvals for eight new products, expanding our commercial teams and surgeon base, training over 800 surgeons in-person at our Denver headquarters and across the US in the second half of 2021, and building critical corporate infrastructures to go public and scale for future growth. We reached these commercial and operational successes, and continued reporting positive Adjusted EBITDA, realizing $3.1 million for 2021.”
DaCosta continued, “The current foot and ankle market is large and growing rapidly with potential for even greater future growth to be driven by potential improvements in patient outcomes. P28 is uniquely positioned as foot and ankle specialists to continue to gain market share and lead the way to drive future improvements in patient outcomes.”
Paragon 28 predicts this year’s revenue to be in the range of $167-171 million (about 13-16% growth).
The company posted Q4 revenue of $42.8 million, a 22% rise over the prior year’s Q4 driven by increased revenue per U.S. surgeon and U.S. sales force expansion as well as strong South Africa and UK growth.
Full year 2021 sales grew 33% over 2020 to $147.5 million.
“Our teams are foot and ankle specialists, and their focus, resilience, and passion for serving foot and ankle patients and surgeons drove our strong fourth quarter and full year revenue growth, further expanding our market share in the US and internationally,” Albert DaCosta, Paragon 28 chairman and CEO told the press. “I am thrilled with the team's execution in 2021, including receiving approvals for eight new products, expanding our commercial teams and surgeon base, training over 800 surgeons in-person at our Denver headquarters and across the US in the second half of 2021, and building critical corporate infrastructures to go public and scale for future growth. We reached these commercial and operational successes, and continued reporting positive Adjusted EBITDA, realizing $3.1 million for 2021.”
DaCosta continued, “The current foot and ankle market is large and growing rapidly with potential for even greater future growth to be driven by potential improvements in patient outcomes. P28 is uniquely positioned as foot and ankle specialists to continue to gain market share and lead the way to drive future improvements in patient outcomes.”
Paragon 28 predicts this year’s revenue to be in the range of $167-171 million (about 13-16% growth).