Orthofix Q4 net sales $200.4M (+7% pro forma constant currency); FY24 guidance implies 5-7% growth

Orthofix Medical Inc.

Q4 net sales $200.4M; Bone Growth Therapies up 15% YoY; U.S. spine fixation up 13.5%.
Q4 net loss $(22.2)M ($(0.59)/share); Non-GAAP adjusted EBITDA $19.6M (9.8% of sales), up 96% YoY pro forma.
Full-year 2023 net sales $746.6M; net loss $(151.4)M; adjusted EBITDA $46.3M (6.2% of sales), up 69%.
FY24 guidance: net sales $785M-$795M (5-7% constant currency growth); adjusted EBITDA $62M-$67M; exit Q4 FCF positive.
Achieved $32M in annualized merger-related synergies; cash $37.8M, $100M drawn on $150M credit facility.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Orthofix Medical Inc. reported the fourth quarter and year ended December 31, 2023 results: revenue $200.4 million, net income $(22.2) million, EPS $(0.59).

Period: the fourth quarter and year ended December 31, 2023
Revenue: $200.4 million
Net income: $(22.2) million
EPS: $(0.59)
Result: reported results

Exact text from the filing

Fourth quarter net sales were $200.4 million, an increase of 64% on a reported basis and 7% on a pro forma constant currency basis. Net loss was $(22.2) million and earnings per share ("EPS") was $(0.59) on a reported basis, representing an improvement of 19% when compared to pro forma results for the prior year period.

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Source: SEC EDGAR

accession 0000950170-24-025867

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