Paragon 28, Inc. (NYSE:FNA) Q1 2024 Earnings Call Transcript

Albert DaCosta: Yes. Hey, Caitlin, and thanks for the question. I just want to point out that I’m actually wearing a shirt that says Bun-Yo-Matic. So I’m supporting the product and that product has been, and I feel like I’m saying this about everything, but that product has been really well received. I think we really addressed some limitations that existed out there and the reproducibility of that system is phenomenal. So one generating a lot of excitement. Two, we’re expecting a more fulsome launch coming up here in the next few months, and I’d likely target midyear to see that. And we have high aspirations about what that’s going to do.

Caitlin Cronin: Awesome. And then U.S. reps were up just a little light, even considering the selling day and the comp impact in Q1, any really dynamics call out there?

Albert DaCosta: I don’t know that I could call out any unusual situations in the quarter. It was really, really nice for us to see that sequential step-up. Again, that’s a little bit uncommon for Q1 versus Q4. There is some fluctuation typically around Q1 can see some fluctuations around the fracture fixation market in particular. And but given the headwinds of the fewer selling days and the sequential growth. I think we’re pretty thrilled about that performance there.

Caitlin Cronin: Thanks so much.

Albert DaCosta: And one thing to point out. Yes, I think we mentioned that in the prepared remarks, but Q1 of ’23 was our toughest comp. I mean, we grew, it was at 27% constant currency in ’23 Q1. So to see the growth that we achieved in Q1 this year was really powerful piece for us.

Operator: There are no additional questions waiting at this time. I would now like to pass the conference back to management team for any further remarks.

Matthew Brinckman: Yes. Thank you all again for your time today. And if you have any further questions, please reach out. Otherwise, we look forward to seeing many of you at future investor conferences and industry conferences. This concludes our call. Have a great day.

Albert DaCosta: Thank you.

Operator: That concludes today’s call. Thank you for your participation, and you may now disconnect your lines.