Earnings Summary for Paragon 28 Inc
Intellectia.AI Updated: 1970-01-01
Earnings Summary for Paragon 28, Inc.
Paragon 28, Inc. Reports Financial Results for Q2 2024
Overview: Paragon 28, Inc. has announced its financial results for the fiscal quarter ending June 30, 2024.
Key Financial Metrics
| Metric | Q2 2024 | Q1 2024 | Q2 2023 | Year-over-Year Change | Quarter-over-Quarter Change |
|---|---|---|---|---|---|
| Revenue ($ millions) | $61.0 | $61.1 | $51.0 | 20% | -0.16% |
Interpretation: The company showed a strong performance, with revenue increasing by 20% year-over-year from Q2 2023. However, the quarter-over-quarter change in revenue from Q1 2024 to Q2 2024 was a slight decline of -0.16%, indicating stable revenue levels.
Revenue Performance by Segment
| Segment | Q2 2024 | Year-over-Year Change | Comment |
|---|---|---|---|
| US Revenue ($ millions) | $49.7 | 18% | Driven by increased surgical volume, sales force expansion, and new product launches. |
| International Revenue ($ millions) | $11.3 | 29% | Growth driven by the UK, Australia, South Africa, and new Kuwaiti market launch. |
Interpretation: Both US and international segments showed substantial growth, with international revenue growing by 29% year-over-year, largely due to strategic expansion efforts in new regions.
Stock Price Movement
As per the earnings release: - After the earnings event, the stock price increased by 5.19%.
In summary, Paragon 28, Inc. has seen strong year-over-year growth and maintained steady revenue levels quarter-over-quarter for Q2 2024. The company’s international growth and strategic product launches have been significant contributors to this success.
