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Mar 31, 2024
Orthofix Q1 2024 Earnings Report
Orthofix reported first quarter results with increased net sales and improved EPS.
Key Takeaways
Orthofix reported a 7.7% increase in net sales to $188.6 million. Net loss was $36 million, with an EPS of $(0.95). Non-GAAP adjusted EBITDA was $7.7 million, representing a 220 basis point expansion over the prior year period. The company raised the midpoint of its full-year net sales guidance, narrowing the range to $790.0-$795.0 million.
Net sales increased by 7.7% to $188.6 million.
Bone Growth Therapies net sales grew by 10%.
U.S. Spine Fixation net sales increased by 16%.
Net loss was $36 million, with an EPS of $(0.95).
Orthofix
Orthofix
Orthofix Revenue by Segment
Revenue by Segment
Bone Growth Therapies Revenue
CapyFin.comSpinal Implants, Biologics and Enabling Technologies Revenue
CapyFin.comGlobal Spine Revenue
CapyFin.comGlobal Orthopedics Revenue
CapyFin.com Forward Guidance
Orthofix expects net sales to range between $790 million to $795 million and reiterates previous guidance for non-GAAP adjusted EBITDA ranging from $62 million to $67 million. The company expects to be free cash flow positive for Q4 2024.
Positive Outlook
- Net sales to range between $790 million to $795 million, representing implied growth of 6% to 7% year-over-year on a constant currency basis
- Midpoint of full year 2024 net sales guidance raised
- Range narrowed to $790.0-$795.0 million
- Reiterating previous guidance for non-GAAP adjusted EBITDA ranging from $62 million to $67 million
- Expect to be free cash flow positive for Q4 2024
Revenue & Expenses
Visualization of income flow from segment revenue to net income