Orthofix Medical Inc.

Listed Company

OFIXCIK 0000884624NasdaqAcceleratedSurgical & Medical Instruments & ApparatusFY ends Dec 23

Period

FY 2025

Revenue

$822.31M

Net Income

$-92.19M

Total Assets

$850.65M

Equity

$450.04M

Shares Out

40.14M

Op. Cash Flow

$33.35M

Business

Orthofix Medical Inc. is a global medical technology company that develops and markets devices and therapies for musculoskeletal and spinal conditions. Its offerings include spinal hardware, bone growth stimulators (PEMF and LIPUS), biologics, the 7D FLASH navigation system, and orthopedic fixation and limb‑lengthening solutions with related services. The business is organized into two reporting segments—Global Spine and Global Orthopedics—covering bone growth therapies, spinal implants, enabling technologies, biologics, and internal and external fixation. It sells products globally through direct sales, distributors, and consignment or loan models to hospitals and ambulatory surgery centers.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	822	799	747	461	464
Cost of sales	256	254	260	124	115
Gross profit	566	546	486	337	350
Sales, general, and administrative	554	533	530	309	—
Research and development	66	74	80	49	50
Acquisition-related amortization, impairment, and remeasurement (Note 17)	27	24	15	—	—
Operating loss	−81	−85	−139	−13	−8
Interest expense, net	−17	−30	−9	−1	−2
Other (expense) income, net	8	−10	−938,000	−3	−3
Loss before income taxes	−91	−124	−149	−18	−13
Income tax expense	−1	−2	−3	−2	−25
Net loss	−92	−126	−151	−20	−38
Basic (per share)	−2.33	−3.3	−4.12	−0.98	−1.95
Diluted (per share)	−2.33	−3.3	−4.12	−0.98	−1.95
Basic (shares)	40	38	37	20	20
Diluted (shares)	40	38	37	20	20
Unrealized loss on debt securities	—	—	−1	395,000	−942,000
Currency translation adjustment	5	−3	1	−2	−3
Other comprehensive income (loss), before tax	5	−3	83,000	−1	−3
Other comprehensive income (loss), net of tax	5	−3	83,000	−1	−3
Comprehensive loss	−87	−129	−151	−21	−42

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	82	83	33	51	88
Restricted cash	3	3	5	—	—
Accounts receivable, net of allowances of $8,308 and $7,418, respectively	136	135	128	83	79
Inventories	172	189	222	100	83
Prepaid expenses and other current assets	24	23	32	22	20
Total current assets	417	433	420	256	270
Property, plant, and equipment, net	129	140	159	58	59
Intangible assets, net	73	99	117	47	53
Goodwill	195	195	195	71	71
Other long-term assets	37	26	33	26	24
Total assets	851	893	925	459	477
Accounts payable	58	49	58	28	26
Current portion of long-term debt	0	0	1	—	—
Current portion of finance lease liability	837,000	755,000	708,000	652,000	3
Other current liabilities	111	119	105	55	77
Total current liabilities	170	169	165	84	106
Long-term debt	157	157	93	—	—
Long-term portion of finance lease liability	17	18	19	19	20
Other long-term liabilities	56	47	50	19	14
Total liabilities	401	390	327	122	140
Contingencies (Note 13)	—	—	—	—	—
Common shares $0.10 par value; 100,000 shares authorized; 39,834 and 38,486 issued and outstanding as of December 31,2025 and 2024, respectively	4	4	4	2	2
Additional paid-in capital	814	780	746	335	314
Accumulated deficit	−368	−276	−150	1	21
Accumulated other comprehensive income (loss)	618,000	−4	−1	−1	—
Total shareholders equity	450	503	599	337	337
Total liabilities and shareholders equity	851	893	925	459	477

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation, amortization, and impairment	77	60	53	—	—
Inventory reserve expenses	31	26	28	15	11
Amortization of inventory fair value step-up	—	12	36	—	—
Amortization of operating lease assets, debt costs, and other assets	6	16	7	3	3
Provision for expected credit losses	2	2	820,000	2	—
Deferred income taxes	223,000	2	579,000	314,000	24
Share-based compensation expense	29	32	36	18	15
Loss on disposal of fixed assets	1	2	2	2	—
Change in valuation of investment securities	−48,000	8	596,000	—	—
Change in fair value of contingent consideration	−1	7	−3	−17	−4
Other	2	4	−2	−45,000	1
Accounts receivable	−2	−10	−10	−7	−7
Inventories	−11	−6	−58	−33	−10
Prepaid expenses and other current assets	−4	593,000	2	−874,000	−3
Accounts payable	3	−6	9	2	4
Other current liabilities	−2	10	4	627,000	1
Contingent consideration milestone payment	−1	—	—	—	−7
Other long-term assets and liabilities	−4	−9	27,000	−2	−5
Net cash provided by (used in) operating activities	33	26	−46	−12	18
Capital expenditures	−35	−35	−62	−23	—
Cash acquired in SeaSpine merger	—	—	29	—	—
Sale of investment securities	—	7	—	126,000	—
Other investing activities	28,000	−100,000	−500,000	126,000	−1
Net cash used in investing activities	−35	−28	−33	−25	−23
Proceeds from credit facilities	—	198	175	—	—
Repayment of borrowings from credit facilities	—	−143	−79	—	—
Payment of debt acquired from SeaSpine merger	—	—	−27	—	—
Proceeds from issuance of common shares	6	6	5	4	9
Payments related to withholdings for share-based compensation	−432,000	−5	−4	−2	−3
Contingent consideration milestone payment	−5	−1	−1	—	—
Payments related to finance lease obligation	−762,000	−706,000	−652,000	−3	−537,000
Payment of debt issuance costs and other financing activities	−531,000	−4	−2	−92,000	−948,000
Net cash provided by (used in) financing activities	−786,000	51	65	−78,000	−4
Effect of exchange rate changes on cash and restricted cash	1	−938,000	619,000	−997,000	−815,000
Net change in cash, cash equivalents, and restricted cash	−623,000	48	−13	−37	−9

Filings

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