OrthoPediatrics released its 2018 second quarter financial results.
Here are five details:
1. During the second quarter, the company experienced a 27.7 percent increase in revenue to $15.1 million year-over-year.
2. U.S. revenue for the quarter was $11.5 million, a 24.6 percent increase year-over-year, while international revenue was $3.6 million, a 38.7 percent increase year-over-year.
3. OrthoPediatrics' trauma and deformity segment generated $9.9 million in revenue, a 25.3 percent increase year-over-year. The company's scoliosis segment earned $4.9 million in revenue, a 42.7 percent increase year-over-year.
4. The company recorded $11.3 million in gross profit for the quarter, a 29.4 percent increase year-over-year. OrthoPediatrics' total operating expenses were $13.4 million, a 42.6 percent increase year-over-year.
5. By the end of the year, OrthoPediatrics' expects its revenue growth to range between 23 percent to 24 percent year-over-year. Prior guidance put revenue growth at 22 percent.
To view the full financial report, click here.