Full Press Release Details
28 Announces Preliminary Unaudited Revenue for Fourth Quarter and Full Year 2024
ENGLEWOOD, Colo. - January 13, 2025
(BUSINESS WIRE) - Paragon 28, Inc. (NYSE: FNA) ("Paragon 28" or "P28"), a leading medical device company
exclusively focused on the foot and ankle orthopedic market, today announced a range of its preliminary unaudited net revenue for the
fourth quarter and full year ended December 31, 2024.
Preliminary unaudited net revenue for the fourth
quarter of 2024 is expected to be in a range of $71.5 to $71.8 million, representing reported growth of approximately 18.0% to 18.5% compared
to the fourth quarter of 2023.
Preliminary unaudited net revenue for the full
year of 2024 is expected to be in a range of $255.9 to $256.2 million, representing reported growth of approximately 18.2% to 18.4%, compared
to the full year of 2023.
Our estimated unaudited financial results as of
and for the fourth quarter and full fiscal year ended December 31, 2024, presented above are preliminary and are subject to the close
of the quarter and year, completion of our quarter-end and year-end closing procedures and further financial review. Our independent registered
public accounting firm has not audited, reviewed, compiled or performed any procedures with respect to this preliminary financial information.
Our actual results may differ from these estimates as a result of the completion of our quarter-end and year-end closing procedures, review
adjustments and other developments that may arise between now and the time our financial results for the fourth quarter and year are finalized.
"2024 has been a transformative year for
Paragon 28, marked by significant achievements in growth, innovation, and operational efficiency. Our efforts across the business have
delivered tangible results this year, positioning us for sustainable, profitable growth in the future." said Albert DaCosta, Chairman
and CEO of Paragon 28, "Looking ahead to 2025, we are more excited than ever to build on this momentum and redefine what is possible
in the foot and ankle market."
About Paragon 28, Inc.
Based in Englewood, Colo., Paragon 28, is a leading
medical device company exclusively focused on the foot and ankle orthopedic market and is dedicated to improving patient lives. From the
onset, Paragon 28 has provided innovative orthopedic solutions, procedural approaches and instrumentation that cover a wide range
of foot and ankle ailments including fracture fixation, forefoot, ankle, progressive collapsing foot deformity (PCFD) or flatfoot, charcot
foot and orthobiologics. The company designs products with both the patient and surgeon in mind, with the goal of improving outcomes,
reducing ailment recurrence and complication rates, and making the procedures simpler, consistent, and reproducible.
Forward Looking Statements
Except for the historical information contained
herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions
of the Private Securities Litigation Reform Act of 1995, including, but not limited to: Paragon 28's potential to shape a better
future for foot and ankle patients and its estimated ranges of net revenue for the fourth quarter and full-year of 2024. You are cautioned
not to place undue reliance on these forward-looking statements. Forward-looking statements are only predictions based on our current
expectations, estimates, and assumptions, valid only as of the date they are made, and subject to risks and uncertainties, some of which
we are not currently aware. Forward-looking statements should not be read as a guarantee of future performance or results and may not
necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. These forward-looking
statements are based on Paragon 28's current expectations and inherently involve significant risks and uncertainties. Actual results
and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks
and uncertainties. These risks and uncertainties are described more fully in the section titled "Risk Factors" in Paragon
28's filings with the Securities and Exchange Commission (the "SEC"), including Paragon 28's annual report on
Form 10-K filed with the SEC on March 2, 2024. Paragon 28 does not undertake any obligation to update forward-looking statements
and expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained
herein. These forward-looking statements should not be relied upon as representing Paragon 28's views as of any date subsequent
to the date of this press release. Paragon 28's preliminary unaudited estimated revenue for the quarter ended December 31,
2024 and the year ended December 31, 2024 are not necessarily indicative of our operating results for any future periods.
Senior Vice President, Strategy, and Investor
Phone: (741) 336-0435