Orthofix Q2 net sales $198.6M (+6% YoY); raises FY2024 guidance

Orthofix Medical Inc.

2024-Q2 EPS reported -$1.84 revenue$387,228,000

Q2 net sales $198.6M, +6% YoY; net loss $(33.4M) vs $(39.4M) prior year; EPS $(0.88).
Non-GAAP adjusted EBITDA $16.6M (8.4% margin), +310 bps YoY from $9.9M.
Bone Growth Therapies +12% YoY; U.S. Spine Fixation +12% YoY; Global Orthopedics +5%.
FY2024 net sales guidance raised to $795-800M; adjusted EBITDA to $64-69M.
Expects positive free cash flow in H2 2024; appointed four new executive team members.

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