secwatch.observer — SEC 8-K summary
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Issuer:     Orthofix Medical Inc. (OFIX)
CIK:        0000884624
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0000950170-23-019696
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/884624/000095017023019696/0000950170-23-019696-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/884624/000095017023019696/ofix-20230509.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-019696

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer