NYSE
43 days, 9 hours ago 
FNA
Paragon 28, INC
Form 4: Paragon 28, Inc. Officer Reports Disposition of Shares and Derivative Securities Following Merger
Robert S. McCormack, General Counsel and Corporate Secretary of Paragon 28, Inc., reports the disposition of common stock and performance stock units due to the merger with Zimmer Biomet Holdings, Inc.
NYSE
43 days, 9 hours ago 
FNA
Paragon 28, INC
Form 4: Paragon 28, Inc. Director Meghan Scanlon Reports Disposal of Shares in Merger with Zimmer Biomet
Meghan Scanlon, a director of Paragon 28, Inc., reported the disposal of 42,113 shares of common stock due to the merger with Zimmer Biomet Holdings, Inc.
NYSE
43 days, 9 hours ago 
FNA
Paragon 28, INC
Form 4: Paragon 28 Director Schnettler Reports Share Disposal Following Merger with Zimmer Biomet
Thomas Schnettler, a director at Paragon 28, reports the disposal of common stock due to the merger with Zimmer Biomet, receiving cash and contingent value rights.
NYSE
43 days, 9 hours ago 
FNA
Paragon 28, INC
Form 4: Paragon 28 Director Stephen Oesterle Reports Disposition of Shares and Options Following Merger with Zimmer Biomet
Stephen Oesterle, a director of Paragon 28, reports the disposition of common stock and stock options due to the merger with Zimmer Biomet Holdings, Inc.
NYSE
43 days, 9 hours ago 
FNA
Paragon 28, INC
Form 4: Paragon 28 Director B. Kristine Johnson Disposes of Shares in Merger with Zimmer Biomet
Director B. Kristine Johnson reports the disposal of Paragon 28 shares following the company's merger with Zimmer Biomet, receiving cash and contingent value rights in exchange.
NYSE
43 days, 9 hours ago 
FNA
Paragon 28, INC
Form 4: Paragon 28 Officer Matthew Jarboe Reports Disposition of Shares and Derivatives Following Zimmer Biomet Merger
Matthew Jarboe, Chief Commercial Officer of Paragon 28, reports the disposition of common stock, performance stock units, and stock options due to the merger with Zimmer Biomet Holdings, Inc.
NYSE
43 days, 9 hours ago 
FNA
Paragon 28, INC
Form 4: Paragon 28 EVP Andrew James Hill Disposes of Shares Following Merger with Zimmer Biomet
EVP of Research & Development at Paragon 28, Andrew James Hill, reports the disposal of shares and performance stock units following the merger with Zimmer Biomet Holdings, Inc.
NYSE
43 days, 9 hours ago 
FNA
Paragon 28, INC
Form 4: Paragon 28 Director Blackford Reports Disposal of Shares Following Merger with Zimmer Biomet
Director Quentin S. Blackford reports the disposal of Paragon 28 shares due to the merger with Zimmer Biomet Holdings, Inc., where each share was converted into cash and a contingent value right.
NYSE
43 days, 9 hours ago 
FNA
Paragon 28, INC
Form 4: Paragon 28 Director Kristina Wright Reports Disposal of Shares Following Merger with Zimmer Biomet
Kristina Wright, a director at Paragon 28, reported the disposal of common stock due to the merger with Zimmer Biomet, where each share was converted into cash and a contingent value right.
NYSE
43 days, 9 hours ago 
FNA
Paragon 28, INC
Form 4: Paragon 28 CFO Chadi Chahine Reports Disposition of Shares and Derivative Securities Following Merger with Zimmer Biomet
Chadi Chahine, CFO of Paragon 28, reports the disposition of common stock and performance stock units due to the merger with Zimmer Biomet, where each share was converted into cash and a contingent value right.
NYSE
43 days, 9 hours ago 
FNA
Paragon 28, INC
Form 4: Paragon 28 Director Alf Grunwald Disposes of Shares in Merger with Zimmer Biomet
Director Alf Grunwald reports the disposal of Paragon 28 shares following the merger with Zimmer Biomet, receiving cash and contingent value rights.
NYSE
43 days, 9 hours ago 
FNA
Paragon 28, INC
8-K: Paragon 28 Acquired by Zimmer Biomet: Merger Completed, Stock Delisted
Paragon 28, Inc. has completed its merger with a subsidiary of Zimmer Biomet, resulting in the company becoming a wholly-owned subsidiary and the delisting of its common stock from the New York Stock Exchange.
NYSE
47 days, 9 hours ago 
FNA
Paragon 28, INC
8-K: Paragon 28 Stockholders Approve Merger with Zimmer Biomet Subsidiary
Paragon 28, Inc. announces that its stockholders have approved the merger agreement with Zimmer, Inc., a wholly-owned subsidiary of Zimmer Biomet Holdings, Inc., at a special meeting held on April 17, 2025.
NYSE
54 days, 9 hours ago 
FNA
Paragon 28, INC
8-K: Paragon 28 Addresses Stockholder Lawsuits and Provides Supplemental Disclosures Regarding Merger with Zimmer Biomet
Paragon 28 updates its proxy statement with supplemental disclosures to address stockholder lawsuits and demand letters related to its pending merger with Zimmer Biomet.
NYSE
71 days, 8 hours ago 
FNA
Paragon 28, INC
Form 4: Paragon 28 CFO Chadi Chahine Reports Acquisition and Disposal of Common Stock
Chadi Chahine, CFO of Paragon 28, reports acquiring and disposing of common stock and holding 520,657 shares following the reported transaction.
NYSE
71 days, 8 hours ago 
FNA
Paragon 28, INC
Form 4: Paragon 28 Executive Andrew Hill Reports Acquisition of Restricted Stock Units
EVP of Research & Development at Paragon 28, Andrew James Hill, reports the acquisition of restricted stock units and a decrease in holdings.
NYSE
71 days, 8 hours ago 
FNA
Paragon 28, INC
Form 4: Paragon 28, Inc. Executive Matthew Jarboe Reports Changes in Beneficial Ownership
Chief Commercial Officer Matthew Jarboe reports acquisition and disposal of Paragon 28, Inc. common stock and restricted stock units.
NYSE
71 days, 8 hours ago 
FNA
Paragon 28, INC
Form 4: Paragon 28, Inc. Executive Reports Acquisition and Disposal of Common Stock
Robert S. McCormack, General Counsel and Corporate Secretary of Paragon 28, Inc., reports the acquisition of restricted stock units and disposal of common stock.
NYSE
71 days, 8 hours ago 
FNA
Paragon 28, INC
Form 4: Albert DaCosta Reports Acquisition of 337,682 Common Stock Shares in Paragon 28, Inc.
Albert DaCosta, a director, 10% owner, and officer of Paragon 28, Inc., reported acquiring 337,682 shares of common stock on March 20, 2025, according to a Form 4 filing.
NYSE
77 days, 9 hours ago 
FNA
Paragon 28, INC
Form 4: Albert DaCosta Reports Changes in Beneficial Ownership of Paragon 28, Inc. Shares
Albert DaCosta, a director, 10% owner, and officer of Paragon 28, Inc., reports changes in his beneficial ownership of the company's common stock due to gift transactions.
NYSE
82 days, 6 hours ago 
FNA
Paragon 28, INC
Form 4: MVM Partners Sells 1,044,295 Shares of Paragon 28, Inc. (FNA)
MVM Partners, LLC, a 10% owner of Paragon 28, Inc., sold 1,044,295 shares of common stock at a weighted average price of $13.0405 on March 13, 2025.
NYSE
83 days, 8 hours ago 
FNA
Paragon 28, INC
Form 4: Paragon 28, Inc. Executive Robert S. McCormack Reports Stock Transaction
Robert S. McCormack, General Counsel and Corporate Secretary of Paragon 28, Inc., reports the withholding of 8,165 common stock shares to cover tax liabilities related to vesting restricted stock units on March 10, 2025.
NYSE
83 days, 8 hours ago 
FNA
Paragon 28, INC
Form 4: Paragon 28 Executive Matthew Jarboe Reports Stock Transaction
Chief Commercial Officer Matthew Jarboe of Paragon 28, Inc. reports disposition of shares to cover tax obligations related to vesting restricted stock units.
NYSE
83 days, 8 hours ago 
FNA
Paragon 28, INC
Form 4: Paragon 28, Inc. Executive Albert DaCosta Reports Changes in Beneficial Ownership
Albert DaCosta, a director, 10% owner, and officer of Paragon 28, Inc., reported a transaction involving common stock due to tax liability from vesting restricted stock units.
NYSE
84 days, 9 hours ago 
FNA
Paragon 28, INC
8-K: Paragon 28 Merger with Zimmer Biomet Clears Key Antitrust Hurdle
Paragon 28 announces the expiration of the HSR Act waiting period, a significant step towards its acquisition by Zimmer Biomet.
NYSE
89 days, 5 hours ago 
FNA
Paragon 28, INC
Form 4: MVM Partners Sells Shares in Paragon 28, Inc.
MVM Partners, a significant shareholder of Paragon 28, Inc. (FNA), has sold a portion of its holdings over three days in March 2025.
NYSE
89 days, 9 hours ago 
FNA
Paragon 28, INC
10-K: Paragon 28 Announces Merger Agreement with Zimmer, Inc. in Annual 10-K Filing
Paragon 28's 2024 10-K filing highlights a pending merger with Zimmer, Inc., alongside financial results and operational strategies.
Worse than expected
 
NYSE
91 days, 5 hours ago 
FNA
Paragon 28, INC
Form 4: Paragon 28 CEO Albert DaCosta Disposes of Shares to Cover Tax Obligations
Albert DaCosta, CEO of Paragon 28, Inc., disposed of 11,341 shares of common stock to cover tax liabilities related to vesting restricted stock units.
NYSE
91 days, 5 hours ago 
FNA
Paragon 28, INC
Form 4: Paragon 28, Inc. Executive Matthew Jarboe Reports Stock Transaction
Matthew Jarboe, Chief Commercial Officer of Paragon 28, Inc., reports the disposition of 4,136 shares of common stock to cover tax liabilities related to vesting restricted stock units.
NYSE
105 days, 7 hours ago 
FNA
Paragon 28, INC
DEFA14A: Zimmer Biomet to Acquire Paragon 28 in Definitive Agreement
Zimmer Biomet (ZB) and Paragon 28 have entered into a definitive agreement for ZB to acquire Paragon 28, aiming to expand ZB's presence in the foot and ankle segment.
NYSE
124 days, 7 hours ago 
FNA
Paragon 28, INC
DEFA14A: Zimmer Biomet to Acquire Paragon 28 in Push for Foot and Ankle Market Dominance
Paragon 28 announces its acquisition by Zimmer Biomet, aiming to enhance its mission to improve surgical outcomes in the foot and ankle market.
NYSE
125 days, 7 hours ago 
FNA
Paragon 28, INC
Form 4: MVM Partners Reduces Stake in Paragon 28, Inc. Through Recent Stock Sales
MVM Partners, LLC, a significant shareholder in Paragon 28, Inc. (FNA), has decreased its holdings through a series of stock sales in late January 2025.
Worse than expected
 
NYSE
125 days, 7 hours ago 
FNA
Paragon 28, INC
DEFA14A: Paragon 28 Faces Shareholder Vote on Proposed Transaction Amidst Regulatory Scrutiny
Paragon 28 urges shareholders to review proxy statements related to a proposed transaction, highlighting potential risks and benefits while navigating regulatory approvals.
NYSE
125 days, 8 hours ago 
FNA
Paragon 28, INC
DEFA14A: Paragon 28 to be Acquired by Zimmer Biomet in Definitive Agreement
Paragon 28, a foot and ankle care company, has entered into a definitive agreement to be acquired by Zimmer Biomet, a global medical technology leader.
NYSE
125 days, 8 hours ago 
FNA
Paragon 28, INC
DEFA14A: Zimmer Biomet to Acquire Paragon 28 in $1.3 Billion Deal
Zimmer Biomet will acquire Paragon 28 for $13.00 per share in cash plus a contingent value right (CVR) payment, potentially reaching a total enterprise value of approximately $1.3 billion.
NYSE
125 days, 8 hours ago 
FNA
Paragon 28, INC
8-K: Zimmer Biomet to Acquire Paragon 28 in $1.3 Billion Deal
Zimmer Biomet will acquire Paragon 28 for $13.00 per share in cash plus a contingent value right (CVR) that could add up to $1.00 per share, valuing the company at approximately $1.3 billion.
NYSE
125 days, 17 hours ago 
FNA
Paragon 28, INC
DEFA14A: Zimmer Biomet to Acquire Paragon 28 for $1.1 Billion, Expanding Foot and Ankle Segment
Zimmer Biomet will acquire Paragon 28 for $13.00 per share in cash, plus a contingent value right, to expand its presence in the foot and ankle orthopedic segment.
NYSE
125 days, 17 hours ago 
FNA
Paragon 28, INC
8-K: Zimmer Biomet to Acquire Paragon 28 in $1.2 Billion Deal, Expanding Foot and Ankle Portfolio
Zimmer Biomet has agreed to acquire Paragon 28 for $1.2 billion, including a contingent value right, to expand its presence in the high-growth foot and ankle orthopedic segment.
Capital raise
 
NYSE
127 days, 9 hours ago 
FNA
Paragon 28, INC
Form 4: MVM Partners Reduces Stake in Paragon 28, Inc.
MVM Partners, LLC, a significant shareholder of Paragon 28, Inc. (FNA), has sold a portion of its common stock holdings in two transactions.
NYSE
131 days, 6 hours ago 
FNA
Paragon 28, INC
144: MVM Partners, LLC to Sell 225,000 Shares of Paragon 28, Inc. Common Stock
MVM Partners, LLC, a 10% stockholder, plans to sell 225,000 shares of Paragon 28, Inc. common stock via Merrill Lynch.
NYSE
141 days, 16 hours ago 
FNA
Paragon 28, INC
8-K: Paragon 28 Announces Strong Preliminary Revenue Growth for 2024, Eyes Continued Expansion
Paragon 28 reports preliminary unaudited revenue growth of approximately 18% for both the fourth quarter and full year 2024, signaling a strong performance in the foot and ankle orthopedic market.
Better than expected
 
NYSE
154 days, 9 hours ago 
FNA
Paragon 28, INC
Form 4: Paragon 28, Inc. Executive Albert DaCosta Reports Stock Option Exercise and Tax Liability Coverage
Albert DaCosta, a director, 10% owner, and officer of Paragon 28, Inc., exercised stock options and covered the resulting tax liability, altering his beneficial ownership in the company's stock.
NYSE
173 days, 8 hours ago 
FNA
Paragon 28, INC
Form 4: Paragon 28 Director Acquires Restricted Stock Units
Director David M Demski of Paragon 28, Inc. acquired 34,207 restricted stock units, which will vest over three years.
NYSE
174 days, 16 hours ago 
FNA
Paragon 28, INC
8-K: Paragon 28 Appoints Dave Demski to Board of Directors, Expanding Board to Nine Members
Paragon 28 has appointed Dave Demski, a seasoned medical device executive, as an independent director, increasing the board size to nine members.
NYSE
175 days, 8 hours ago 
FNA
Paragon 28, INC
Form 4: MVM Partners Reduces Stake in Paragon 28, Inc. Through Stock Sales
MVM Partners, a significant shareholder in Paragon 28, Inc., has sold a portion of its holdings in two separate transactions.
Worse than expected
 
NYSE
175 days, 8 hours ago 
FNA
Paragon 28, INC
Form 4: Paragon 28 Director Sells Shares Under 10b5-1 Trading Plan
Kristina Wright, a director at Paragon 28, sold 2,360 shares of common stock at an average price of $10.001 per share under a pre-arranged 10b5-1 trading plan.
NYSE
179 days, 8 hours ago 
FNA
Paragon 28, INC
Form 4: MVM Partners, LLC Reduces Stake in Paragon 28, Inc.
MVM Partners, LLC sold a portion of its holdings in Paragon 28, Inc. over two days, reducing its total ownership.
NYSE
186 days, 8 hours ago 
FNA
Paragon 28, INC
Form 4: MVM Partners, LLC Reduces Stake in Paragon 28, Inc.
MVM Partners, LLC has sold a portion of its holdings in Paragon 28, Inc., reducing its total ownership.
NYSE
189 days, 8 hours ago 
FNA
Paragon 28, INC
Form 4: MVM Partners, LLC Reduces Stake in Paragon 28, Inc.
MVM Partners, LLC has sold a portion of its holdings in Paragon 28, Inc., reducing its total ownership.
Worse than expected
 
NYSE
193 days, 8 hours ago 
FNA
Paragon 28, INC
Form 4: MVM Partners Reduces Stake in Paragon 28, Inc. Through Stock Sales
MVM Partners, a significant shareholder in Paragon 28, Inc., has sold a portion of its holdings in two transactions.
Worse than expected
 
FNA 
Paragon 28, INC 
NYSE

8-K: Paragon 28 Announces Strong Preliminary Revenue Growth for 2024, Eyes Continued Expansion

Sentiment:
 Preliminary Earnings Announcement
 13 January 2025 8:30 AM

Paragon 28 reports preliminary unaudited revenue growth of approximately 18% for both the fourth quarter and full year 2024, signaling a strong performance in the foot and ankle orthopedic market.

Better than expected
  The company's revenue growth of approximately 18% for both the fourth quarter and full year exceeded the industry's growth rate of 7% CAGR.  Paragon 28 achieved adjusted EBITDA profitability in the third quarter for the first time since its IPO, indicating better than expected financial performance.  The company's free cash flow improved by 69.5% in 3Q24 compared to 3Q23, demonstrating better than expected operational efficiency. 

Summary
  • Paragon 28, a medical device company focused on foot and ankle orthopedics, announced preliminary unaudited net revenue for the fourth quarter of 2024 is expected to be between $71.5 and $71.8 million.
  • This represents a growth of approximately 18.0% to 18.5% compared to the fourth quarter of 2023.
  • The preliminary unaudited net revenue for the full year 2024 is expected to be in the range of $255.9 to $256.2 million.
  • This full year revenue represents a growth of approximately 18.2% to 18.4% compared to the full year of 2023.
  • The company has launched over 80 product systems since 2010 and has over 20 active projects in development.
  • Paragon 28 has 284 producing U.S. sales representatives, a 11% year-over-year increase, and 2,244 active surgeon customers, a 9% year-over-year increase.
  • The company's international sales account for approximately 18% of global sales and are present in 21 countries.
  • Paragon 28 is targeting EBITDA profitability in 2025 and free cash flow positivity later in 2025.
Sentiment

Score: 9

Explanation: The document conveys a very positive sentiment due to strong revenue growth, operational improvements, and a clear path to profitability. The company's focus on innovation and market expansion further supports a high sentiment score.

Positives
  • Paragon 28 has demonstrated strong revenue growth in both the fourth quarter and full year of 2024.
  • The company is expanding its sales force and customer base.
  • Paragon 28 is actively developing and launching new products.
  • The company is experiencing growth in both U.S. and international markets.
  • Paragon 28 is showing improvements in operational efficiency and financial performance.
  • The company is making progress towards achieving profitability and positive free cash flow.
  • Paragon 28 has a diversified product portfolio across all foot and ankle sub-segments.
  • The company has a strong focus on research and learning to drive innovation.
Negatives
  • The reported financial results are preliminary and unaudited, and actual results may differ.
  • The company's independent registered public accounting firm has not audited, reviewed, or compiled the preliminary financial information.
  • The company's future performance is subject to risks and uncertainties.
Risks
  • The preliminary financial results are subject to change upon completion of quarter-end and year-end closing procedures.
  • Actual results may differ from the estimates due to review adjustments and other developments.
  • The company's future performance is subject to various risks and uncertainties as detailed in their SEC filings.
  • Forward-looking statements are not guarantees of future performance and should not be relied upon as such.
Future Outlook

Paragon 28 is focused on building on its current momentum, expanding its market presence, and achieving sustainable, profitable growth. The company aims to achieve EBITDA profitability in 2025 and positive free cash flow later in 2025. They also plan to continue launching new products, expanding their sales channels, and strengthening their international presence.

Management Comments
  • Albert DaCosta, Chairman and CEO of Paragon 28, stated that 2024 has been a transformative year for the company, marked by significant achievements in growth, innovation, and operational efficiency.
  • Mr. DaCosta also mentioned that the company is excited to build on this momentum and redefine what is possible in the foot and ankle market in 2025.
Industry Context

Paragon 28 operates in the foot and ankle orthopedic market, which is a $5.2 billion segment growing at a 7% CAGR. The company is positioned as a leader in this market, focusing exclusively on foot and ankle solutions. They are competing with larger diversified players and smaller single-product companies, aiming to outpace the segment growth through innovation and strategic investments.

Comparison to Industry Standards
  • Paragon 28's revenue growth of approximately 18% significantly outpaces the overall foot and ankle segment's growth rate of 7% CAGR.
  • The company's growth has been 2-3x higher than the segment average since its IPO.
  • Top 3 players in the global foot and ankle segment each hold 10%+ market share, while Paragon 28 holds approximately 7% in the U.S. and 1% internationally, indicating substantial room for growth.
  • Competitors include large diversified medical device companies and smaller single-product focused companies, but Paragon 28 is the only company solely dedicated to the foot and ankle segment.
  • Paragon 28's focus on innovation and a comprehensive product portfolio differentiates it from competitors.
Stakeholder Impact
  • Shareholders are likely to react positively to the strong revenue growth and progress towards profitability.
  • Employees may be motivated by the company's success and growth prospects.
  • Customers (surgeons) will benefit from the company's innovative products and solutions.
  • Suppliers may see increased business opportunities due to the company's growth.
  • Creditors may view the company as a lower risk due to its improved financial performance.
Next Steps
  • The company will continue to focus on launching new products on time and within budget.
  • Paragon 28 will execute new product go-to-market strategies effectively.
  • The company will drive adoption of the Smart 28 platform and modules.
  • Paragon 28 will expand its geographic footprint and drive growth in key markets.
  • The company will focus on education and strengthen its position in core markets.
  • Paragon 28 plans to enter the Japanese market.
  • The company will deliver operating leverage and effectively manage cash and optimize its capital structure.
Key Dates
  • 2024-01-13: J.P. Morgan 43rd Annual Healthcare Conference presentation date.
  • 2024-03-02: Date of Paragon 28's annual report on Form 10-K filing with the SEC.
  • 2024-08-08: Date of Paragon 28's annual report on Form 10-K/A filing with the SEC.
  • 2025-01-13: Date of the press release and 8-K filing announcing preliminary unaudited revenue for Q4 and full year 2024.
Keywords
Paragon 28, foot and ankle, orthopedic, medical devices, revenue growth, EBITDA, free cash flow, sales, product launches, innovation
FNA 
Paragon 28, INC 
NYSE
Sector: TBD
 
Filings with Classifications
Worse than expected
6 March 2025 4:01 PM
Annual Report
  • The company's gross profit margin decreased from 76.0% in 2023 to 74.7% in 2024.
  • The company has identified material weaknesses in its internal control over financial reporting.
Worse than expected
29 January 2025 6:03 PM
SEC Form 4
  • The document indicates that a major shareholder is reducing their position in the company, which is generally viewed negatively by the market.
Capital raise
29 January 2025 8:06 AM
Merger Announcement
  • Zimmer Biomet plans to fund the proposed transaction through a combination of cash on the balance sheet and other available debt financing sources.
Better than expected
13 January 2025 8:30 AM
Preliminary Earnings Announcement
  • The company's revenue growth of approximately 18% for both the fourth quarter and full year exceeded the industry's growth rate of 7% CAGR.
  • Paragon 28 achieved adjusted EBITDA profitability in the third quarter for the first time since its IPO, indicating better than expected financial performance.
  • The company's free cash flow improved by 69.5% in 3Q24 compared to 3Q23, demonstrating better than expected operational efficiency.
Worse than expected
10 December 2024 4:43 PM
SEC Form 4 Filing
  • The document indicates a reduction in shareholding by a major investor, which is generally viewed negatively by the market.
Worse than expected
26 November 2024 4:29 PM
SEC Form 4 Filing
  • The document indicates a reduction in ownership by a major shareholder, which is generally viewed negatively by the market.
Worse than expected
22 November 2024 4:27 PM
SEC Form 4 Filing
  • A significant shareholder reducing their stake is generally viewed negatively by the market.
Better than expected
12 November 2024 4:04 PM
Quarterly Report
  • The company exceeded expectations by achieving positive Adjusted EBITDA for the first time since its IPO.
  • The company raised its full-year revenue guidance, indicating stronger than anticipated performance.
  • The company significantly improved its Free Cash Flow compared to the prior year period.
Capital raise
12 November 2024 4:01 PM
Quarterly Report
  • The company may require additional financing to fund its operations and planned growth.
  • The company may seek to raise additional capital through public or private equity offerings, debt financings, credit or loan facilities, or a combination of these funding sources.
Worse than expected
12 November 2024 4:01 PM
Quarterly Report
  • The company's net losses increased despite revenue growth, indicating that expenses are growing faster than revenue.
  • The gross profit margin decreased due to higher non-cash charges for excess and obsolete inventory.
  • The company identified material weaknesses in its internal controls over financial reporting.
Worse than expected
8 August 2024 4:15 PM
Quarterly Report
  • The company's net loss widened and adjusted EBITDA decreased compared to the same period last year, indicating worse than expected profitability.
Worse than expected
8 August 2024 4:10 PM
Quarterly Report
  • The company's gross margin decreased from 77.3% to 75.0% year-over-year.
  • The company reported a net loss of $13.8 million, slightly higher than the $13.2 million loss in the same quarter last year.
  • The company has restated its financial statements due to material accounting errors, indicating a weakness in internal controls.
Worse than expected
8 August 2024 4:08 PM
Quarterly Report
  • The company's financial results were worse than expected due to the need to restate financials because of material accounting errors.
  • The company's gross profit margin decreased, and the company reported a net loss and negative adjusted EBITDA.
  • The company identified material weaknesses in its internal control over financial reporting.
Worse than expected
8 August 2024 4:06 PM
Annual Report Amendment
  • The company's financial results were worse than expected due to the restatement of financial statements and the identification of material weaknesses in internal controls.
Worse than expected
30 July 2024 5:00 PM
8-K Filing
  • The company's financial results for the affected periods were worse than previously reported due to errors in inventory accounting.
  • The restatement will decrease net income for the affected periods.
  • The company has identified material weaknesses in its internal control over financial reporting.
Worse than expected
8 May 2024 4:03 PM
Quarterly Report
  • The company's net loss increased from $9.1 million to $15.2 million year-over-year.
  • The company's adjusted EBITDA decreased from negative $1.4 million to negative $5.5 million year-over-year.
  • The company's gross profit margin decreased from 82.9% to 80% year-over-year.
Worse than expected
8 May 2024 4:01 PM
Quarterly Report
  • The company's net loss increased from $9.1 million to $15.2 million year-over-year.
  • Adjusted EBITDA decreased from a loss of $1.4 million to a loss of $5.5 million year-over-year.
  • The gross profit margin decreased from 82.9% to 80.0% year-over-year.
Worse than expected
29 February 2024 4:02 PM
Annual Results
  • The company's net loss and negative adjusted EBITDA indicate that it is not yet profitable, which is worse than expected for a company of its size and maturity.
Capital raise
29 February 2024 4:02 PM
Annual Results
  • The company may require additional capital to maintain and expand its operations.
  • The company may raise additional funds through the issuance of equity, equity-linked or debt securities.
  • The company may also raise additional funds through strategic partnerships and alliances and licensing arrangements with third parties.
Better than expected
29 February 2024 4:02 PM
Annual Results
  • The company's net loss decreased significantly compared to the previous year, indicating improved financial performance.
  • The company's revenue growth exceeded the market growth rate.
  • The company provided positive revenue guidance for 2024.

Disclaimer: This summary was generated by artificial intelligence and its accuracy is not guaranteed. The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.