Orthofix Q1: net sales $188.6M (+7.7%), net loss narrows to $36M; raises FY sales outlook to $790-795M

Orthofix Medical Inc.

2024-Q1 EPS reported -$0.95 revenue$188,608,000

Net sales $188.6M, +7.7% YoY; Bone Growth Therapies +10%, U.S. Spine Fixation +16%, U.S. Orthopedics +23%.
GAAP net loss $(36.0)M ($0.95 loss per share) vs $(60.9)M ($1.71) prior year; adjusted EBITDA $7.7M (4.1% of sales).
FY2024 net sales guidance raised to $790-795M (from $785-795M); adjusted EBITDA guidance reaffirmed at $62-67M.
Cash and cash equivalents $29.5M; $125M drawn on $150M credit facility.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Orthofix Medical Inc. reported the first quarter ended March 31, 2024 results: revenue $188.6 million, net income $(36.0) million, EPS $(0.95). Guidance raised.

Period: the first quarter ended March 31, 2024
Revenue: $188.6 million
Net income: $(36.0) million
EPS: $(0.95)
Guidance: raised
Result: reported results

Exact text from the filing

assets, and any impairment of acquired goodwil --- EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 Orthofix Reports First Quarter 2024 Results Recent Highlights • Net sales of $188.6 million, an increase of 7.7% on a reported basis and 7.5% on a constant currency basis over prior year • Bone Growth Therapies net sales growth of 10%, marking five consecutive quarters

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Source: SEC EDGAR

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