FNA - Paragon 28 reports Q1 results

2023-05-04 16:58:33 ET

• Paragon 28 press release ( NYSE: FNA ): Q1 Net loss of $9.05M
• Revenue of $52M (+25.7% Y/Y).
• U.S. net revenue for the first quarter of 2023 was $45.0 million, representing growth of 24.9% over the first quarter of 2022.
• International net revenue for the first quarter of 2023 was a record $7.1 million, representing 31.9% and 42.2% reported and constant currency growth, respectively, over the first quarter of 2022.
• Gross margin was 83% for the first quarter of 2023 compared to 84% in the first quarter of 2022.
• Operating expenses were $50.9 million for the first quarter of 2023, an increase of 18.3%, compared to $43.0 million for the first quarter of 2022.
• Net loss was $9.1 million for the first quarter of 2023, compared to net loss of $9.2 million for the first quarter of 2022.
• Adjusted EBITDA was a $1.4 million loss for the first quarter of 2023, a 57.1% improvement, compared to a $3.3 million loss in the first quarter of 2022.

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