Paragon 28 reported 1Q22 orthopedic sales of $41.4 million, +25% vs. 1Q21.
Ankle fracture fixation and bunion treatment were strong performers for the company in the first quarter, culminating in an all-time revenue record in March.
The company also attributed the growth to its expanding salesforce and surgeon customer base. Revenue per producing rep grew 20% in the quarter, while Paragon 28’s U.S. surgeon base increased by 15% to total over 1,800 surgeons.
Paragon 28 CEO Albert DaCosta said, “We continue to add reps. We were having quite a few opportunities driven, we think, by the high visibility of our company since our public offering. With the size of our company and the full product line, we’ve never had more opportunities to hire experienced reps and bring them into the company.”
The swift start to 2022 spurred Paragon 28 to raise its full-year guidance to the range of $171 million to $175 million, representing growth between +16% and +19%.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. Orthopedic sales and growth rates are estimated on an as-reported basis.
Orthopedic Sales by Segment
1Q22
1Q21
$ Chg
% Chg
Extremity Joint Replacement
$1.5
$1.2
$0.3
28.5%
Trauma
$36.4
$29.3
$7.2
24.4%
Sports Medicine
$1.6
$1.2
$0.5
39.3%
Orthobiologics
$1.8
$1.5
$0.3
22.2%
Total
$41.4
$33.1
$8.3
25%
Orthopedic Sales by Geography
1Q22
1Q21
$ Chg
% Chg
US
$36.0
$29.1
$6.9
23.6%
OUS
$5.3
$4.0
$1.4
34.7%
Total
$41.4
$33.1
$8.3
25%
Company Earnings
Amt
% of Sales
Sales
$41.4
Cost of Sales
$6.8
16.4%
R & D
$37.2
90%
Selling and Admin
$5.8
14%
Other
$1.1
2.7%
Net Earnings
($9.6)
(23.1%)
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
Paragon 28 reported 1Q22 orthopedic sales of $41.4 million, +25% vs. 1Q21.
Ankle fracture fixation and bunion treatment were strong performers for the company in the first quarter, culminating in an all-time revenue record in March.
The company also attributed the growth to its expanding salesforce and surgeon customer base. Revenue per...
Paragon 28 reported 1Q22 orthopedic sales of $41.4 million, +25% vs. 1Q21.
Ankle fracture fixation and bunion treatment were strong performers for the company in the first quarter, culminating in an all-time revenue record in March.
The company also attributed the growth to its expanding salesforce and surgeon customer base. Revenue per producing rep grew 20% in the quarter, while Paragon 28’s U.S. surgeon base increased by 15% to total over 1,800 surgeons.
Paragon 28 CEO Albert DaCosta said, “We continue to add reps. We were having quite a few opportunities driven, we think, by the high visibility of our company since our public offering. With the size of our company and the full product line, we’ve never had more opportunities to hire experienced reps and bring them into the company.”
The swift start to 2022 spurred Paragon 28 to raise its full-year guidance to the range of $171 million to $175 million, representing growth between +16% and +19%.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. Orthopedic sales and growth rates are estimated on an as-reported basis.
Orthopedic Sales by Segment
1Q22
1Q21
$ Chg
% Chg
Extremity Joint Replacement
$1.5
$1.2
$0.3
28.5%
Trauma
$36.4
$29.3
$7.2
24.4%
Sports Medicine
$1.6
$1.2
$0.5
39.3%
Orthobiologics
$1.8
$1.5
$0.3
22.2%
Total
$41.4
$33.1
$8.3
25%
Orthopedic Sales by Geography
1Q22
1Q21
$ Chg
% Chg
US
$36.0
$29.1
$6.9
23.6%
OUS
$5.3
$4.0
$1.4
34.7%
Total
$41.4
$33.1
$8.3
25%
Company Earnings
Amt
% of Sales
Sales
$41.4
Cost of Sales
$6.8
16.4%
R & D
$37.2
90%
Selling and Admin
$5.8
14%
Other
$1.1
2.7%
Net Earnings
($9.6)
(23.1%)
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
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Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
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