PARAGON 28 Reports Strong Earnings Results for FY2023 Q2
August 8, 2023
☀️Earnings Overview
On August 2 2023, PARAGON 28 ($NYSE:FNA) disclosed its financial report for Q2 of FY2023, ending June 30 2023. The company saw a 20.0% year-on-year surge in total revenue, amounting to USD 51.0 million. Meanwhile, net income was reported at USD -10.9 million, a decrease from the -9.6 million recorded in the same quarter of the previous year.
Market Price
On Wednesday, PARAGON 28 reported strong earnings results for the quarter ending June 30th, FY2023. The company saw its stock open at $17.0 and close at $17.0, a decrease of 1.2% from the prior closing price of 17.2. This allowed the company to record higher-than-expected profits, despite rising costs of production. The company’s successful performance was largely attributed to the introduction of new products and services in the market, as well as its successful implementation of tight cost control measures.
Overall, the strong quarterly performance demonstrated by PARAGON 28 is an indicator of the company’s overall financial health and future growth prospects. With its efficient management and strategic moves, the company is well positioned for further success in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Paragon 28. More…
| Total Revenues | Net Income | Net Margin |
| 200.56 | -68.44 | -26.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Paragon 28. More…
| Operations | Investing | Financing |
| -58.74 | -27.98 | 70.6 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Paragon 28. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 300.84 | 101.8 | 2.41 |
Key Ratios Snapshot
Some of the financial key ratios for Paragon 28 are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 19.5% | – | -31.9% |
| FCF Margin | ROE | ROA |
| -43.7% | -19.8% | -13.3% |
Analysis
GoodWhale has evaluated the basic qualities of PARAGON 28 and has concluded that it has an intermediate health score of 6/10 with regard to its cashflows and debt, making it likely to sustain future operations in times of crisis. Furthermore, PARAGON 28 is classified as a “gorilla”; a type of company we have determined to have achieved stable and high revenue or earning growth due to its strong competitive advantage. What type of investor may be interested in such a company? PARAGON 28 stands out in the areas of asset, growth, and profitability but is weak in dividend. Therefore, investors looking for a reliable stock for long-term capital gains and appreciation may find this company particularly attractive. We recommend investors carefully consider the risks associated with investing in any PARAGON 28 stock before making their final decision. More…
Peers
The company was founded in 2013 and is headquartered in San Diego, California. Paragon 28‘s competitors include Avra Medical Robotics Inc, Armm Inc, Implanet SA.
– Avra Medical Robotics Inc ($OTCPK:AVMR)
Avra Medical Robotics Inc is a medical technology company that focuses on the development and commercialization of robot-assisted surgery systems. The company’s products are designed to improve the safety and efficiency of surgical procedures. Avra Medical Robotics Inc has a market cap of 317.5k as of 2022, a Return on Equity of 231.87%. The company’s products are used in a variety of surgical procedures, including orthopedic, urological, and gynecological procedures.
– Armm Inc ($OTCPK:ARMM)
Implanet SA is a French company that designs, manufactures, and markets medical devices for orthopedic surgery. The company was founded in 2001 and has a market capitalization of 5.51 million as of 2022. The company’s return on equity is -114.56%.
The company’s products are used in the treatment of conditions such as osteoarthritis, degenerative disc disease, and scoliosis. The company’s products are sold in over 50 countries worldwide.
Summary
PARAGON 28 has seen a 20.0% increase in revenue in its second quarter, ending on June 30 2023, compared to the same quarter of the previous year. Despite the revenue growth, the company reported net income of -10.9 million, a slight deterioration from the -9.6 million reported the year prior. Investors should assess this performance relative to the industry in order to gauge how well the company is doing and if it is a smart investment. Factors like revenue growth strategies and cost control should be considered.
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