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Dec 31, 2022
Orthofix Q4 2022 Earnings Report
Orthofix and SeaSpine's financial performance for the fourth quarter and full year of 2022 was reported.
Key Takeaways
Orthofix reported Q4 net sales of $122.2 million, a decrease of 2% year-over-year, while SeaSpine reported net sales of $63.4 million, a 14% increase year-over-year. Both companies highlighted growth in key segments and are now focused on integration following their merger on January 5, 2023.
Orthofix net sales decreased by 2% to $122.2 million, but remained flat on a constant currency basis.
Bone Growth Therapies net sales for Orthofix increased by approximately 3%.
SeaSpine net sales increased by 14% to $63.4 million.
U.S. Spinal Implants and Orthobiologics net sales for SeaSpine grew by 23% and 20%, respectively.
Revenue by Segment
Forward Guidance
The combined company expects net sales for the first quarter of 2023 to be between $166 million and $170 million, and full year net sales to be between $743 million and $753 million. These expectations are based on current foreign currency exchange rates and exclude the 2023 revenue results for SeaSpine for the four-day period prior to the closing of the merger.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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