---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-019696"
form_type: "8-K"
ticker: "OFIX"
cik: "0000884624"
company_name: "Orthofix Medical Inc."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T11:23:34.228966+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Orthofix Q1 net sales $175.2M (+65% reported, +12% pro forma CC); GAAP EPS $(1.71), adj. EPS $(0.10)

## Summary
- Net loss of $60.9M vs. $4.5M loss prior year; adjusted net loss $3.6M vs. adj. net income $1.0M.
- U.S. spinal implant pro forma sales +18% YoY; Bone Growth Therapies +14%; Global Orthopedics +13.6% CC.
- Full commercial launch of Lattus Lateral Access System and Fathom Pedicle Retractor System announced.
- FY 2023 net sales guidance raised to $750-756M (from $743-753M); adj. EBITDA expected $40-45M.
- Cash $50.0M; $45M drawn on $300M revolver; free cash flow $(45.9)M for Q1.

## SEC filing metadata
- accession: 0000950170-23-019696
- form_type: 8-K
- ticker: OFIX
- cik: 0000884624
- company_name: Orthofix Medical Inc.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/884624/000095017023019696/0000950170-23-019696-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/884624/000095017023019696/ofix-20230509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-019696
- JSON: https://secwatch.observer/filing/0000950170-23-019696.json
- Plain text: https://secwatch.observer/filing/0000950170-23-019696.txt

## Key facts
- Earnings Releases
  Orthofix Medical Inc. reported the quarter ended March 31, 2023 results: revenue $175.2 million, net income $(60.9) million, or $(1.71) per share, EPS $(1.71).
  - Period: the quarter ended March 31, 2023
  - Revenue: $175.2 million
  - Net income: $(60.9) million, or $(1.71) per share
  - EPS: $(1.71)
  - Result: reported results
  source text: and certain related legal expenses, which are recorded as general and a --- EX-99 (EX-99.1) --- EX-99 Exhibit 99.1 Orthofix Reports First Quarter 2023 Results • Net sales of $175.2 million, an increase of 65% on a reported basis and 12% on a pro forma constant currency basis over prior year • Bone Growth Therapies growth of 14%, with growth coming from both spine
  evidence_url: https://www.sec.gov/Archives/edgar/data/884624/000095017023019696/0000950170-23-019696-index.htm
- Earnings Releases
  Orthofix Medical Inc. reported the year ended December 31, 2023 results: revenue $750 to $756. Guidance reaffirmed.
  - Period: the year ended December 31, 2023
  - Revenue: $750 to $756
  - Guidance: reaffirmed
  - Result: guidance update
  source text: changes that may occur this year. Current 2023 Outlook Previous 2023 Outlook (Unaudited, U.S. Dollars, in millions, except per share data) Low High Low High Full year net sales $ 750 1 $ 756 1 $ 743 $ 753 Full year adjusted EBITDA $ 40 $ 45 N/A N/A 1 Represents a year-over-year increase of 62.8% to 64.1% on a reported basis and an increase of 7.0% to 7.9% on a
  evidence_url: https://www.sec.gov/Archives/edgar/data/884624/000095017023019696/0000950170-23-019696-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.