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Morning Brief — Thursday, October 29, 2026

Play episode— Morning Brief — Thursday, October 29, 2026

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4 stories this morning, for surgeons and the people who support them.

  • OrthoPediatrics Q3 2026: record revenue $72.7M (+19%; US +19%, international +18%), Trauma & Deformity $52.6M (+19%), Scoliosis $19.2M (+18%), adjusted EBITDA $6.9M, free cash flow +$1.6M; FY26 revenue guidance raised to $270-273M; same day, FDA 510(k) clearance and first cases for the PNP Retrograde femoral nail — Earnings release dated Oct 27, 2026 (8-K Ex. 99.1). Net loss $5.9M vs $11.8M; FCF $1.6M vs $3.4M used a year earlier; FY26 adjusted EBITDA ~ $25M and breakeven FCF reiterated. PNP Retrograde (Oct 27 GlobeNewswire release, https://www.biospace.com/press-releases/orthopediatrics-announces-fda-510k-clearance-of-pnp-femur-retrograde-nail-system-and-completes-first-implantations): anatomic nails for trauma and straight nails for deformity, 7-11 mm, on existing PNP instruments; limited market release through 2026, broader launch 2027; follows PNP Femur and PNP Tibia. Prior OrthoPediatrics story (2026-08-26) was its UK spinal-device acquisition, not these results. Source
  • Axogen Q3 2026: revenue $75.8M (+26.2%), gross margin 74.8% (vs 76.6%), FY26 guidance raised to at least $290M (+29%) including at least $7M from BioCircuit/NerveTape (closed Oct 1 for $200M cash); Elevance and Aetna positive coverage for Avance, commercial coverage ~96% of US covered lives; prostate market development from 2027 — Earnings release dated Oct 28, 2026 (8-K Ex. 99.1). Net income $2.3M; adjusted EBITDA $13.4M vs $9.2M; organic FY26 guidance at least $283M (+26%). Avance BLA approved by FDA Dec 3, 2025 (Axogen release). NerveTape is a hook-based sutureless coaptation device; Tissium's COAPTIUM CONNECT has an FDA De Novo for nerve repair (Medical Device Network on the BioCircuit deal). Prostate investor call Nov 9. Not previously covered. Source
  • J Arthroplasty, prospective Greek study: an intraoperative synovial calprotectin point-of-care lateral flow test (cutoff 50 mg/L) in 80 hip and knee revisions had sensitivity 91.7% / specificity 90.3% in THA (24 PJI of 55) and 87.5% / 100% in TKA (8 PJI of 25) against 2018 ICM criteria — Online ahead of print Oct 27, 2026 (doi 10.1016/j.arth.2026.10.026); Democritus University of Thrace (Alexandroupolis) and Athens General Hospital G. Gennimatas; enrolled March 2022 to February 2026; fresh intraoperative fluid, dedicated calprotectin LFT. Median calprotectin 138 vs 7 mg/L (THA), 106.5 vs 7 (TKA). AUC 0.894 THA, 0.930 TKA. Three false positives (metallosis, recent dislocation, unexplained inflammation); three false negatives (fungal, culture-negative PJI with sinus tract). Abstract reports no comparison with alpha-defensin. Not previously covered. Source
  • J Arthroplasty, Danish Hip Arthroplasty Register: 10-year standardized all-cause revision 6.6% with monoblock dual-mobility cups (n=5,187) vs 5.9% with 36 mm heads (n=35,162) and 6.9% with 32 mm heads (n=15,702) in primary THA for OA, 2007-2019; no significant difference; DM lower revision for dislocation, higher for infection — Online ahead of print Oct 27, 2026 (doi 10.1016/j.arth.2026.10.022); Copenhagen (Rigshospitalet) group. Risk differences: DM vs SC36 -0.6 points (95% CI -1.5 to 0.3, P=0.16); DM vs SC32 +0.3 points (-0.6 to 1.3, P=0.50). Direct standardization to the combined covariate distribution. Abstract gives direction only for cause-specific revision (full text paywalled). Related but distinct from the Belgian single-centre DM vs ceramic-on-ceramic series covered 2026-10-13. Source

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