Paragon 28 Announces Preliminary Unaudited Revenue for Fourth Quarter and Full Year 2023

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, 2023.

Preliminary unaudited net revenue for the fourth quarter of 2023 is expected to be in a range of $60.3 to $60.6 million, representing reported growth of approximately 17% to 18% compared to the fourth quarter of 2022. Foreign currency impact on fourth quarter 2023 reported net revenue growth was not significant.

Preliminary unaudited net revenue for the full year of 2023 is expected to be in a range of $216.1 to $216.4 million, representing reported and constant currency growth of approximately 19% and 20%, respectively, compared to the full year of 2022.

Our estimated unaudited financial results as of and for the fourth quarter and full fiscal year ended December 31, 2023, 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.

“We closed out 2023 with another solid quarter and I am very pleased with our 20 percent net revenue growth for 2023. Looking at 2024 and beyond, I could not be more excited to continue our mission seeking to improve foot and ankle patient outcomes,” said Albert DaCosta, Chairman and CEO of Paragon 28.

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.