02:54 PM EDT, 04/04/2024 (MT Newswires) -- Paragon 28 ( FNA ) shares slumped 16.5% in recent Thursday trading after the company projected a higher Q1 revenue and announced the departure of Chief Financial Officer Stephen Deitsch.

The company said it expects preliminary unaudited Q1 net revenue of $60.8 million to $61.1 million, up about 16.8% to 17.4% from a year earlier. Two of seven analysts polled by Capital IQ expect $59.3 million.

It reaffirmed its 2024 net revenue guidance of $249 million to $259 million, 15.1% to 19.7% higher than last year's figure. Analysts in a Capital IQ survey expect $253.9 million.

Paragon also said it appointed Kristina Wright as interim CFO, effective April 3, while a search is underway for a permanent successor. Wright has been a board member since 2021.

Price: 10.07, Change: -1.99, Percent Change: -16.50