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Orthofix Q1 2025 Earnings Report
Orthofix reported its financial results for the first quarter ended March 31, 2025, including net sales of $193.6 million and a net loss of $(53.1) million.
Key Takeaways
Orthofix reported first quarter 2025 net sales of $193.6 million, an increase of 2.7% on a reported basis compared to Q1 2024. The company experienced a net loss of $(53.1) million, or $(1.35) per share, and a non-GAAP pro forma adjusted EBITDA of $11.4 million.
First quarter 2025 net sales were $193.6 million, an increase of 2.7% on a reported basis and 4.3% on a pro forma constant currency basis compared to Q1 2024.
Net loss for the first quarter was $(53.1) million, or $(1.35) per share.
Non-GAAP pro forma adjusted EBITDA was $11.4 million, an increase of $3.8 million compared to reported non-GAAP adjusted EBITDA for Q1 2024.
The company updated its full-year net sales guidance to range between $808 million to $816 million, while reaffirming its full-year 2025 adjusted EBITDA and positive free cash flow guidance.
Revenue by Segment
Forward Guidance
Orthofix updated its full-year net sales guidance to a range of $808 million to $816 million, excluding sales from discontinued M6 product lines, representing implied constant currency growth of 5.0% year-over-year at the midpoint. The company reaffirmed its full-year 2025 non-GAAP adjusted EBITDA guidance of $82 million to $86 million and positive free cash flow.
Positive Outlook
- Net sales now expected to range between $808 million to $816 million, excluding sales from the discontinued M6 product lines.
- Implied constant currency growth of 5.0% year-over-year at the midpoint of the revised net sales range.
- No change to non-GAAP adjusted EBITDA, which is expected to be $82 million to $86 million.
- No change to free cash flow, which is expected to be positive for full-year 2025.
- The adjusted EBITDA range includes the anticipated impact from the discontinuation of the M6 product lines.
Challenges Ahead
- The revised guidance range assumes a $5 million negative impact from U.S. funded non-governmental organization (NGO) business compared to full-year 2024.
- The guidance is based on current foreign currency exchange rates and does not account for additional potential exchange rate changes.
Revenue & Expenses
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