FNA - Earnings call transcript Q1 2024

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good afternoon, and welcome to Paragon 28 First Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this call is being recorded for replay purposes.

I would now like to hand the conference over to your host today, Mr. Matthew Brinckman, SVP of Strategy and Investor Relations. Mr. ahead. go Brinckman,

Matt Brinckman

and thank XXXX and today's joining XX's Executive Paragon are Officer. Chief Good Results you and Quarter Officer; Chief and Financial DaCosta, on Wright, Earnings First Interim Albert Financial afternoon, Chairman for Krissy Call. call Presenting

during I the statements the meaning made securities which call we of will begin, you pursuant management forward-looking Reform Act Litigation are safe Securities of like federal Private would Before that harbor to remind include to that XXXX. make this within provisions the statements laws, of

assumptions or statements intentions, of to results made Forward-looking performance. subject uncertainties, statements as from that include materially results differ and number events, beliefs, to These forward-looking predictions may the or cause a statements. company's statements are risks, to management's actual expectations forward-looking these or hopes, of future estimates

available All and required law, forward-looking to information, update except Paragon XX upon are statements. as based no obligation, by statements these current assumes

forward-looking may certain concerning SEC in information Additional that in the the today. press to was filings these risks contained company's and release uncertainties that from time earlier time issued impact statements and is

today. During net the presentation, net growth. constant of and adjusted reconciliation we currency is contained income growth financial revenue release to financial will earlier EBITDA non-GAAP press this the to measure, GAAP issued most measure reported comparable A net revenue refer and our in

will that, I turn the call with Albert. And to over

Albert DaCosta

an followed guidance. I'm to on to of over our recent results Committee our further joining today's serving pleased for with and for and by Krissy quarter Audit to it for our Chair Governance Thanks, things has join now performance, Krissy to CFO, you highlights. our on of interim Board as and first as off our XXXX Krissy Matt. our Wright, earnings call. first partner XXXX, that, Good and After afternoon, first pass Nominating quarter financial a I'll I our going member been have a review provide kick us quarter Committee. since call. details am thank incredible us

with of $XX.X results a the growth record revenue the on of representing day X. revenue we preliminary April in quarter reported of first Global the our this compared through constant pleased growth are for the quarter despite of XX.X% our 'XX comp first year. currency growth our line one Overall, to quarter reported with in billing less 'XX, top strong in was first end million, 'XX

year. contribution from typically fourth We quarter any also each which saw XXXX, of modest of a quarter highest seasonally the step-up revenue is the

X line to Importantly, balanced top foot we continue across subsegments. performance see all and ankle

at the million U.S. XX.X% was quarter Looking $XX.X for 'XX representing revenue business Net of growth. first reported the performance.

and roster During across quarter we rep productivity an 'XX, the increased to rep our the X% our saw sales by U.S. of in to first compared reps quarter, increase X% base. XXX producing

Over customer a XX% by the surgeons. period, same we to base record grew our surgeon X,XXX

mobile the core remains education Medical to year. of X of a drivers adoption commercial surgeon strategy have our labs been and start our important part

see to growth are leading with throughout year line commercial these the We trends. in seasonal in see expect typical and momentum continued to these solid excited in indicators areas our

First XX.X% currency and XX.X% constant $XX growth, quarter revenue and respectively. million net international reported was representing

Australia. Overall, International thrilled international primarily Kingdom by growth the was United our momentum. driven and with I am

launch as of growth the Our investments additional outside drive States. in sustainable set we United and for markets foundation is new further products to clear

in important first release products to all our the in will sustainable are X incredible one and Ultimately, the product launches these position help that and tissue off XX's portfolio. long-term in soft subsegments for market invasive minimally segments but to 'XX in ankle most quarter fastest-growing high-growth limited market product portfolio We note foot growth. our with bunion, well to full all next remain recent far so focused Turning segments 'XX. the innovating launched of surgery. launches in is on advance and an and across XXXX start like company it's Paragon

RXINFORCE novel our launched rapidly to syndesmosis Most our system, the and repair tissue broadening of solutions suite Grappler repair adding growing portfolio. recently, we soft

As early X with Knotless we in solutions Mister other Bridgeline the soft a tissue reminder, quarter, Grappler the first Anchor, Harvester. and Tape launched Tendon

other in which be of highly used screw systems. plating typically complementary to are All will and with conjunction products existing our and

and FJXXXX Console our and Power for MIS is System extremities solution specifically Burr designed Another the surgery.

expected the the which System Bunion and PRECISION limited Lapidus with new is MIS BunYo-Matic, later release our Lastly, launched clamp, year. we this release full on market

strong see product momentum areas XXXX drivers significant Rings, our the and in in this to especially through of external where year, growth Hindfoot have Nail continue continued hindfoot and XXXX our of which launched first we Monkey XXXX. launches, and from fusion fixation We Phantom Bars Monkey of to be quarter

but XXXX are relatively and XXXX materially the in our quarter, launches yet fresh and to with the our and they've give and community. still buzz this of a generating confidence rep year These PXX's drive product ability been beyond. to later in us Our ton growth first have surgeon the revenue base in within not contributed launches further

U.S. to look we investing of our the products, legacy launches educational realize product and as the to and into to we as opportunities internationally. As our enable further continue XXXX, new full in expect in commercial both well PXX potential

our advance could to about And what to to journey. Everything a proud along In XXXX, priority Paragon unified success be conditions. suffering and, team's am PXX dedication several improve in ankle our and I that closing, mission the long-term patients more we've our founded decision attribute past that foot years, IPO from of the set incredibly we through in continuously we to out with the and This to do our remained continues company's That outcomes and XX XXXX goal. in mission is I and I we experiences and every the top not while when achieved excited is make future. the today. mission of be we

it turn now Krissy. will I to over that, With

Kristina Wright

Albert. you, Thank

of first The XXXX. margin. the the the beginning product prices XX.X% decrease was with of profit gross in well margin for suppliers, gross rest quarter primarily of Turning in the as XX% geographic and quarter result profit P&L, margin higher from mix to is compared Gross shift. to as the

$X.X or revenue First expenses and compared net prior or XX.X% of net year research to development the million were in of revenue quarter $X period. million XX.X%

in development robust to We continue product several remains new to SMART including active invest pipeline, tied XX. development, in which through our over lives improve product to projects with XX patient

quarter $XX.X first the million administrative the Selling, increase general from were or quarter and XX.X% $XX.X a in XXXX. expenses million in $XX.X million, of

XX.X% net year prior variable to increase period. representatives, depreciation and net driven in annual expense. XX.X% in services expenses was was by related commercial primarily an investments compared increased sales headcount, increase in of increases, fees As in a percentage team, the and the professional to merit revenue The increase growth revenue, SG&A commission SG&A in increased

EBITDA Adjusted year the first operating in a The an adjusted XXXX million EBITDA is $X.X decrease expenses. to to for in attributable compared was the primarily quarter million prior loss $X.X period. of loss a increase

the breakeven operating pushed and While ahead, leverage we remain out in of laser-focused in have quarters made impact on for our the slightly across months EBITDA the P&L expectation QX investments XXXX. driving in

top performance. growth associated strategies Importantly, our and we prioritizing are with line initiatives directly

$X million Operating for legal made period the XXXX. attributed the after to of liquidity, changes quarter cash negative million to $XXX consisting through payment for prior in in operating available in The the We million higher in items. balance and total settlement adjusting facility. first flow $XX of was with net $X million XXXX of XXXX the credit of increase cash capital use the $XX cash of ended $XX costs year working negative on is QX million first and our compared quarter sheet million

XXXX revenue guidance. our to turning Now

of we full million the of of million, basis, be XX.X%. we guidance anticipate XXXX, year Through impacts are seasonality to representing $XXX net reported our For previous on XXXX XX.X% reaffirming quarterly to of consistent a with to XXXX. $XXX growth rest the revenue

guidance current translation consistent revenue rates remain with net Our currency foreign assumes rates. translation

of end prepared the our remarks. is That

Operator

with [Operator the of question Instructions] O'Brien first from Our Matthew Sandler. comes Piper line

Matthew O'Brien

as just but you're revenue comps, Krissy, growth kind you keeping outlook you're starters on of the Albert static. the for actually basis. easing acceleration generated rest But that an look the here, just in the is your of I stack was QX Maybe here, getting good, year or at

just about? Or more do wondering a hesitant it that -- competition X, And more so growth should is international the of and of what next? I'm growth is have there And I is or And you're the internationally or then something more this we challenging? to domestically between most getting follow-up. the then specifically drive year expect split the

Albert DaCosta

that I'll it's confidence Albert. say question. out in in February. Thanks got for Maybe for we've of lot a numbers starters, Matt, set we the the

QX QX. The say report to that end. on we February. definitely are into in an to $XXX I'll a out one that going million end expect to to the confidence changed XX.X% analyzing assumptions to range set The net keep the changes going QX. haven't nice in XX.X% of really of back are as that in That's revenue lot A uptick and $XXX for we KPIs versus there high low and number, and to see our on lot hit is made. in be performance have It's we We be always million. the thing around the thrilled that we're

business be ankle market. improve about on do a foot we that one the this particular, patients But to mission you, the and for question, really a to can't outcomes international in our as set put more overall. couldn't of international the you On tell thing performance the I'll that domestic-only And and company. I thrilled mark business, out

of a investments international U.S. And to have than those you're lot has We've scale, of a in been really phenomenal. seeing You paying a so and smaller made obviously, the international off. business, the our be global. on reception It's lot

the But and about So we really there, and global for participate is to the there the us. thrilling KOLs rate expect this to market help how going get ability it's is it's craft continue. growth higher where message that to with going and

Matthew O'Brien

it the the in at And investments grow help that kind more we're rates? then making, the EBITDA grow those Appreciate you that. is of it. the And to these you are investments faster? to follow-up to 'XX? Got Or is pushout, you're spend just that to have commentary, then do pushing up

Albert DaCosta

to to invest Definitely, always that we to we for we've and is took Thanks team the to spending improve really this grow, QX. that again to help build P&L the Yes. had the we us find at dollar to in continue make thing we're R&D commercial we're business thing passionate some efficiencies we to grow those going. and is this us we do leverage look we business want took investments opportunities operating The get across One been so every some one can. best investments look want help right? to in the We and really that to where sure were that and committed thing question. we to as

some of We So moving better looking always opportunities in other took to capital it management those for forward. investments that yes, invest us drive the are think to for the precious always we're capital, to opportunities support grow. got. really efficiencies leverage. additional the to on going And is we side looking of We're we've

Matthew O'Brien

Okay.

little push to bit, Albert. a sorry And

Just is to levels? faster it just elevated it grow to at or growing keep still investment investment

Albert DaCosta

Investments to grow faster.

Operator

is the from Sellers George with Inc. next question line Stephens The of

George Sellers

of also, to assume on you in launched have and some recently? end does of quarter first back commented of competitive new in underlying just the that that contribution the others curious, devices to the towards market And from that the the last assume and in dynamics the terms shift market does what guidance. the what Maybe some year? I'm from

Albert DaCosta

early so ones the market, this we're growth high you last much beginning, excitement. point really tickle for and know launches in generating segments thanks this the and we've the is but honestly you're but George, referencing Maybe They're and more this and getting products of for a class the the since reception the launched, importantly Yeah. to year value, question. are high really late phenomenal. me, year, of is start,

those don't we back so thrilled. our and learning keep the that and we expectations latter far see will in tell our the we go how market take these and improve and gotten and goal improve the of material maybe can next QX in reception to year Now products that But just day, that half we've is meaningful some you, out as we're outcomes modeling from We exceeded this to see offering -- year expect launched early. be expect of We much and would there. into contribution in, so we every information products. refine and systems I in we the has we

we're right? that received reception company feel that lot hitting front that market a that. to on the have mark room outcomes, of mission young. And the improved the the There's the like and us for we is This there, definitely we're products do tells of

just I'll in expected, I We so and tell coming the a of too, of already that lot those the to for you about some momentum And lot new generating year. are earlier half -- products. of have good put than got excitement, we second there, what's do a products us

one And on plan. is calls mentioned that the is launch on XX several I've SMART still

so is really to good that. going And -- a we're year this be just think we for

George Sellers

Okay. great to That's hear. And then...

Albert DaCosta

pretty sales got expansion are to that about contributing I'm One say, We've want that we to later don't the great year. -- I sorry, sales excited the was around force going minimize the to expect I new say is in some to we year. yes? that I thing One start also mean George. this thing excitement folks

And but this a of mean on think KPIs so contribute lot year. to to I emphasize are we everything didn't nicely going are product, that there's that

George Sellers

the think how up year? for far remainder that of line? helpful sort through And little adjusted some prior and line about of The commentary quarter year-over-year this the time commentary really of did maybe That's push EBITDA curious on into just how bit. basis this a the to follow a that cadence to SG&A should reaccelerated hear. then growth Okay. breakeven I'm on maybe quarter. out we sales EBITDA And digging the a question, growth adjusted

Albert DaCosta

Yes. thing start say investments. it is the don't one could we to time the line say We those SG&A for Again, push, on absolutely EBITDA. I leveraging slight exact the thanks question. comment so not for a I expect significant. typically increase, was will The terribly

of did. for to in some And advantage we a business to there different profile leveraging But invest the see fully forward. much moving we we took so that to that increase, and expect start opportunities and SG&A

Operator

Our comes next Craig Bijou Bank America. from line the of of question with

Craig Bijou

investment you couple opportunity Would kind of? a dynamic on the following opportunity hear driving have, I that that that it see there force you're -- talent kind up you more maybe maybe seeing Albert, take push some market the Would available? Did maybe the why color guess, to you're just invest, in you years. sales bit what and investments, the thought what was for you and rationale -- to time love competitive was of could the or the advantage and the of of it what's see making a next love little the making. you you like of was on or so maybe over see

Albert DaCosta

it organization, and you, I nice will from launch question. that want brings that we're I say, hear to Great Craig, sound opportunities Absolutely. don't and time technology, real the new our our a very forward. bring to service take we for who resource buzz oriented thanks we every a and the being surgeon market in generates that like deep clinically some the that, on impacting flippant pride products ultimately patient real the a way we pretty and to table. in we We're about customers on. systems,

those we're the but what and sure in get evaluating right the when partners presented the get So not place. we're clinical we approach is covered only sales with opportunities, the force really geography to making

kind feed of things these So of all together.

it and just And here One a salespeople, has us better medical generates market, one much and part we much connect. We're an always from are but surgeons, it blessed to really these Those medical we to bag with phenomenal We part so devices, only thing right? launch developing systems not not means been around solutions. is And to equal means of sales we that force, Paragon most foot education. opportunities a a have it development with sales when around culture products. ankle all product buzz selling selling have culture the so fillers. came

have implants. the the above We procedures passion for deep beyond themselves and a

connection so good really just is for us. that And recipe a

and those. so it's fit, opportunities have And when take of those to present we advantage right the

things improve committed That line to answer that our We the was to We sweet look in that at a investing for in XX. matter, drive be organization. don't we and that, have it's but a things top efficiencies the long don't that apologize can people real a spot lot a to for spot aspire happen be I Paragon Craig. to of to. and go

Craig Bijou

ones I guess, a And commission. with on quick P&L No, talked just think maybe was just, variable that about With Albert. the side. couple sales script, a with up great, your I the higher comments you following

I little wanted bit by And that's to that. if I maybe competitive should cadence the hiring in and you secondly, year? the a your throughout competitive missed color that Is for market? we I get think the driven improve something hires sequentially this, year, more of or the that sorry and cadence being EBITDA during just So but QX then on mean, the the should investments made,

Albert DaCosta

last piece the We headcount and over EBITDA that. number. in Yes. XXX% reflected the quarter some also increased There professional I R&D some Yes, had increase year commission services driving answer impacted in it, that due were sales X. expect an There the did spend, some had SG&A. was to fees new we part. We some external that investments had bringing were on the part on we sequentially variable Absolutely additional of the improve it? that sales to also folks just of

Operator

Mike comes next Matson Co. the of from question line & Our with Needham

Michael Matson

mean Or that sales focusing what stay SG&A But one-timers or in these the will will because I were be and caused upfront of expect of leverage there be than it any is the flat guess future like increase? you of to mentioning will that it does kind just that, But quarters? dollar topic. to something on like actually this not -- the there I'm you're Yes, hires, wondering it. that payments amount to there that kind higher quarter rep were keep in

Albert DaCosta

Thanks Yes. Mike. one for that Krissy. pass I'll question, to Maybe the

Kristina Wright

nice me Mike, to too. absolutely. Yes,

the of a we've for an result XXXX. of terms revenue a investments expense In remaining in what to as in and as prior we total from quarters over quarters leveraging percent QX revenue, QX, we result see and of sequential expect of as our spend both operating a OpEx in do over quarters that made our increase reduce

Michael Matson

Okay.

so So my down, grows of the should but least then go what revenue kind in guess, you're expect mean that you're XXs, I assumption? the kind is to and of don't stable-ish, seeing the OpEx you it interpretation of get at leverage. low dollar is OpEx Is of amount of that what stays the reasonable run that a be and I saying? Or... rate

Kristina Wright

reasonable that as operating get the rate rate growth revenue. slower assumption. expenses the That's is growth the on We growth than on leverage

Michael Matson

did launch you Okay. market. Got a it. of products number of aimed And at then bunion the kind

any to other seeing products of wanted early year, saying those result of year BunYo-Matic part of toward yet, if that share you're of just category I and see these kind along really last some haven't the of introduced but in think products, with anything the of you're as latter some that this contributed I the gains a or part you products? and other like bunion

Albert DaCosta

bunion share believe Yes, those of particular, the received absolutely. some portfolio just you, taking really, been we products, really definitely our entrants, MIS to grow continues like foot with some the I'll we has tell in newer nicely. franchise well. X are And

with we right, really looking are sweet patients think interest, a spot what for. I hit patients'

our expectations. well. product doing that exceeding It's so And really is

of procedures. just early well normal of QX the power ramp-up FJXXXX, for excitement those of of received. torque them been would I we or console of they too, to contribution The tandem top That so a those really surgeons might wasn't has now aware products, they product, the the expect the the not delivers and We bringing really that medical the burr have wouldn't to perfect more But reminding around the been speed with that meaningful that in and in combination do end cycle. MIS is either at other the education right really mind. underestimate, launched power It products of of and year. that the the

it always us. and the that of new been products so has And energy really the generates good for power

Operator

Vazquez Our next the line William comes Brandon Blair. of question with from

Justin Lin

kind This the is commentary longer is Thinking here, more the it your maybe and you Brendan. volume make some as that term, Or profitable? on business of actually infrastructure? can growing naturally of cost what fixed nuanced? EBITDA more Is pull as increasing for of Justin kind Lin are into levers it beyond to short-term simple

Albert DaCosta

Krissy one as well. Justin, I'll that pass to

Kristina Wright

Jason, meet nice to you.

the we've that think I as it made G&A. to track in right our you're leveraging investments on relates historically operating

significant to well. as As in in there. to be be focus cost the processes. leverage the the would on appropriately And for a And fixed opportunity future. us. able had investing we I as marketing foreseeable systems focus for to has of percentage on and structure efficient expect investments revenue to time, a our leverage And degree. technology to be will continue R&D make investment for public, us as times, mentioned to has and company have But a upgrade obviously we'll became those multiple Albert greater we some innovation look consistent as our as opportunities to for over Selling and those we'll investments grow,

Justin Lin

about I helpful. accelerated that reps originally models bit plans Got thinking maybe behind of I does thinking? hiring for XXXX I U.S.? you're that And your input. Curious talk about, the that this a The think guess you include than investments maybe reps than, year. That's hiring in adding the hear you Some it. more can to Street talked have XX more little think, your you

Albert DaCosta

the reps bringing we're anticipating on. communicate normally number that don't is Yes. One thing we of

seasonal but the in see If producing give rep be impact. that's number, is fluctuation count. where that that some there really can the reported information we the remember, you And we

getting folks situated, with systems. as new bring they're you when they're the getting there's familiar productivity learning products, Sometimes a they're hospital no on, period the of

producing really at becoming when people look we start reps. And so

quarter, remember, that's we who sell that a measure right? out direction in communicate we of to where about product and and we as we're that really you if going, see us that we room that lot of wouldn't have there's it's lot But short force of a as opportunity sales today, I honestly, likely. increase to and still number in the a to keep is month meaningful our still geographically And doubling we person for say a a number you a think U.S. where of each number. the that and, well. the And is internationally are expanding that

Operator

comes Turkaly Our of the from JMP. next question line Dave with Citizens

David Turkaly

just think a lot on growth Albert, was to if a highest let's you be that still you double-digit little able speak grower push able comment, wondering the you the if I'm I might subsectors subsectors. was you one the like bit for And the of you quarter? a say, don't know X, specifically, you market -- to were I of maybe the is just the bunion curious to commentary. typically about but in

Albert DaCosta

ever the think thanks a born the of to pathways that Yes. right? we're lot question. back, people becoming Dave, unique, answer the some really to the a one best I them. things pathway than Maybe a more going to for of kind is this, different to and there's bunion, bunion lead is way pretty with So sensitized of are

the wearing later them in wrong from people shoes. life Some develop

derivative people a Some bunion. a flat are of food

feet. what's category adductus You've meta the club of people called with born who got bunion, are

very different and very have right? different deformity each pathways those patterns, honestly, considerations so And

the fits not but approach size has it's unique all, to tailoring been it's And solutions of bunion each always needs solutions one so really of those to pathways. Paragon's

than well. I for is and that could the growth. absence has reporting of Paragon exact say of concept proudest I moments, think us, right? that sense. XX in all to one us of our growth all R&D no there's In and blended ankle. worked working continue across investments one the see still That's And foot for really subsegments are probably strong of our of our of better I really in particular think subsegments And the all

nice complicated flatfoot, a be really market a to growing a happens market market PCFD. very nicely. big bunion and market, is really The is The also that ankle growing

So a and babies, happen so last my of lot few any to really launched nice great it and none and energy around children of we favorites, I cluster that. forefoot don't the segment that just see call of and the we've months, bunion over feel my a happens around

David Turkaly

any I think, have of throughout XQ? follow-ups, should And days expect should is expense $X.X what changes then X, of move X be Krissy. other And the that we quick aware X the that year? we But we I kind for and interest as of million,

Kristina Wright

repeating mind of one question? of missed think you I your I the first words. Do part the

of it for thinking the question expense part you're first. model would of Yes, outstanding what While our QX answer terms interest debt perhaps I'll is, the second the of remainder with I your consistent in of year.

David Turkaly

Yes.

curious in you that of aware be if or in said The we just selling first should fewer deltas other there's X, XQ X of one XQ. I'm think any there was I in days. was the number Like of terms days. X

Kristina Wright

day inventory. consistent outstanding days difference XXXX. But Yes. for year-over-year. of curious it it between whether billing the remainder sales Thank days the much. QX, pretty are as relates to is you it so and or of was And was XXXX X I days there billing year,

David Turkaly

XQ has more less X or X days?

Albert DaCosta

a had of We the the headwind XXX more. Two QX we and in tailwind for of year. basis a expect about points, remainder

Operator

Cronin of Caitlin from Canaccord. question with Our line next the comes

Caitlin Cronin

one a start to Just quick off.

in You Lapidus of the client product? launch currently limited expect noted that is release. the When you do the

Albert DaCosta

well I'm want I feel everything, a product really the that received. BunYo-Matic, like product. saying about says but actually that out to Caitlin, has this so been just wearing that I'm for question. and That Yes. has shirt the point I'm I supporting product thanks been --

reproducibility that that I think we is out there phenomenal. system really limitations of addressed the existed and some

to next I'd aspirations generating up launch And expecting that's months. So few do. excitement. high a likely lot to see here Two, a that. midyear have in fulsome one, the target what more we're of we coming about going

Caitlin Cronin

there? Awesome. impact light day considering even QX, just a any dynamics the in and the call then selling were revs really out And U.S. comp little to

Albert DaCosta

that the sequential was currency us was But point could know versus to days We in performance. step-up. constant yes, QX little around unusual remarks, some I the fluctuation it, about given Again, in QX in the really think growth, see call typically and QX. There one think fluctuations can the particular. QX. It our headwinds bit selling we're comp. thrilled sequential 'XX situations fixation what I XX% don't for prepared the that nice the out fracture QX. And that I really, was fewer for that's but toughest quarter. in the is uncommon a I to around we see of market some of mentioned pretty grew, thing I mean 'XX out, we any

see really to the really, piece that growth QX was we this for us. in powerful So year achieved

Operator

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

Matthew Bacso

your all today. for Yes. you again time Thank

seeing Have If any of Thank questions, further Otherwise, our investor many day. reach you please look you have conferences. to we you. forward out. concludes This great and industry call. future a at conferences

Operator

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

Paragon 28 (FNA) 8 May 242024 Q1 Earnings call transcript