SEC Comment Letter for ORTHOPEDIATRICS CORP (KIDS) (CIK 0001425450) (KIDS) — May 15, 2019
ORTHOPEDIATRICS CORP (KIDS) (CIK 0001425450)
Date: May 15, 2019 · CIK: 0001425450 · Accession: 0000000000-19-008539
AI Filing Summary & Sentiment
Reasoning
File numbers found in text: 001-38242
Letter
May 15, 2019 Fred Kite Chief Financial Officer OrthoPediatrics Corp. 2850 Frontier Drive Warsaw, IN 46582 Re:OrthoPediatrics Corp. Form 10-K for the Fiscal Year Ended December 31, 2018 Filed March 7, 2019 File No. 001-38242 Dear Mr. Kite: We have reviewed your filing and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to these comments within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comments apply to your facts and circumstances, please tell us why in your response. After reviewing your response to these comments, we may have additional comments. Form 10-K for the Fiscal Year Ended December 31, 2018 Item 6. Selected Financial Data, page 65 1.We note that you eliminate public company costs when calculating non-GAAP adjusted EBITDA. Please describe the nature of these costs and explain why these costs are not normal recurring cash operating expenses necessary to operate your business. Refer to Question 100.01 of the Compliance and Disclosure Interpretations on Non-GAAP Financial Measures. 2.We note that non-GAAP adjusted EBITDA excludes professional services fees that you describe as non-recurring although you have reported the item for the last two fiscal years. Please explain to us in more detail the nature of this adjustment and tell us how your presentation complies with the guidance in Item 10(e)(1)(ii)(B) of Regulation S-K.
FirstName LastNameFred Kite Comapany NameOrthoPediatrics Corp. May 15, 2019 Page 2 FirstName LastName Fred Kite OrthoPediatrics Corp. May 15, 2019 Page 2 We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. You may contact Tara Harkins at (202) 551-3639 or Kevin Kuhar, Branch Chief, at (202) 551-3662 with any questions.
Sincerely,
Division of Corporation Finance
Office of Electronics and Machinery
Show Raw Text
May 15, 2019
Fred Kite
Chief Financial Officer
OrthoPediatrics Corp.
2850 Frontier Drive
Warsaw, IN 46582
Re:OrthoPediatrics Corp.
Form 10-K for the Fiscal Year Ended December 31, 2018
Filed March 7, 2019
File No. 001-38242
Dear Mr. Kite:
We have reviewed your filing and have the following comments. In some of our
comments, we may ask you to provide us with information so we may better understand your
disclosure.
Please respond to these comments within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe our
comments apply to your facts and circumstances, please tell us why in your response.
After reviewing your response to these comments, we may have additional comments.
Form 10-K for the Fiscal Year Ended December 31, 2018
Item 6. Selected Financial Data, page 65
1.We note that you eliminate public company costs when calculating non-GAAP adjusted
EBITDA. Please describe the nature of these costs and explain why these costs are not
normal recurring cash operating expenses necessary to operate your business. Refer
to Question 100.01 of the Compliance and Disclosure Interpretations on Non-GAAP
Financial Measures.
2.We note that non-GAAP adjusted EBITDA excludes professional services fees that you
describe as non-recurring although you have reported the item for the last two fiscal years.
Please explain to us in more detail the nature of this adjustment and tell us how your
presentation complies with the guidance in Item 10(e)(1)(ii)(B) of Regulation S-K.
FirstName LastNameFred Kite
Comapany NameOrthoPediatrics Corp.
May 15, 2019 Page 2
FirstName LastName
Fred Kite
OrthoPediatrics Corp.
May 15, 2019
Page 2
We remind you that the company and its management are responsible for the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action or absence of
action by the staff.
You may contact Tara Harkins at (202) 551-3639 or Kevin Kuhar, Branch Chief, at
(202) 551-3662 with any questions.
Sincerely,
Division of Corporation Finance
Office of Electronics and Machinery