Orthofix reports Q4 net sales $122.2M (-2% YoY); SeaSpine Q4 $63.2-63.7M (+13%+); merger closed Jan 5

Orthofix Medical Inc.

2022-FY EPS reported -$0.98 revenue$460,713,000

Orthofix Q4 net sales $122.2M, down ~2% YoY; constant currency flat; Bone Growth Therapies up ~3%.
SeaSpine Q4 net sales $63.2-63.7M, up >13% YoY; U.S. Spinal Implants +23%, U.S. Orthobiologics +19%.
Full-year: Orthofix $460.7M (-0.8% as reported); SeaSpine ~$237.6M (+24% YoY).
Cash: Orthofix $51M; SeaSpine $29M; Orthofix borrowed $30M on revolver for merger expenses.
Merger of equals completed Jan 5; SeaSpine shareholders receiving 0.4163 OFIX shares per share.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Orthofix Medical Inc. reported preliminary financial results for the fiscal quarter and year ended December 31, 2022.

Period: the fiscal quarter and year ended December 31, 2022
Result: preliminary results

Exact text from the filing

On January 9, 2023, Orthofix Medical Inc. (the “Company”) issued a news release announcing, among other things, its preliminary unaudited net sales for the fiscal quarter and year ended December 31, 2022.

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Orthofix Medical Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-000431

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