OrthoPediatrics reported a 27.8 percent year-over-year increase in its 2018 third quarter revenue, reaching $15.8 million.
Here are four things to know:
1. Gross profit for the third quarter totaled $12 million, a 26.2 percent increase compared to $9.5 million for in 2017.
2. Gross profit margin for the third quarter was 75.7 percent compared to 76.7 percent in 2017. This was due to lower international margins.
3. The pediatric orthopedic implant company deployed $2.3 million of consignment sets during the third quarter.
4. The company converted its Canadian business to a sales agency model.
5. OrthoPediatrics expects full year 2018 revenue growth to be between 25 percent to 25.5 percent. The company estimates its consigned set investments to be approximately $12 million.