ATLANTA, Aug. 22, 2024 (GLOBE NEWSWIRE) -- A shareholder class action lawsuit has been filed against Orthofix Medical Inc. ("Orthofix" or "the Company") (NASDAQ: OFIX). The lawsuit alleges that Orthofix's management team was engaged in "repeated inappropriate and offensive conduct that violated multiple code of conduct requirements," which was "inconsistent with the Company's values and culture." When the truth about the Company's management team was revealed, the price of Orthofix common stock suffered sha ...

NEW YORK, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of Texas on behalf of all persons or entities who purchased or otherwise acquired Orthofix Medical, Inc. ("Orthofix" or the "Company") (NASDAQ: OFIX) securities between October 11, 2022, and September 12, 2023, inclusive (the "Class Period"). The lawsuit seeks to recover damages for the Company's investors under the ...

Patients with femur and tibia abnormalities are frequently difficult to treat and have had several procedures in the past. With the revolutionary new Fitbone Transport and Lengthening System, extremely difficult conditions can be fixed without the need for numerous follow-up procedures by allowing bone to be transferred across the defect. The Fitbone TAA Intramedullary Lengthening System is intended for limb lengthening of the femur and tibia. With the combination of preoperative planning, specialist Fitbon ...

LOS ANGELES, May 16, 2024 (GLOBE NEWSWIRE) -- MedTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global digital health and medical technology market, today announced that Orthofix Medical Inc. (NASDAQ:OFIX), a leading global spine and orthopedics company, has been selected as winner of the "Best Patient Experience Solution" award in the 8th annual MedTech Breakthrough Awards program. The 2024 MedTech Breakthrough Award re ...

Price Performance In the past six months, OFIX's shares have gained 41.2% compared with the industry's rise of 23.9%. The S&P 500 increased 16.2% in the same time frame. More on the News The Rodeo Telescopic Nail is a novel surgical tool designed to cure fractures or abnormalities in individuals with osteogenesis imperfecta (OI). In addition to telescoping to suit pediatric patients' natural growth, the nail implant stabilizes the patient's limb. Orthofix Medical Inc. (OFIX) recently announced the receipt o ...

Orthofix Medical Inc. (NASDAQ:OFIX) Q1 2024 Earnings Conference Call May 7, 2024 8:30 AM ET Company Participants Louisa Smith – Gilmartin Group Massimo Calafiore – President and Chief Executive Officer Julie Andrews – Chief Financial Officer Conference Call Participants Mathew Blackman – Stifel Jason Wittes – ROTH MKM Jeff Cohen – Ladenburg Thalmann Operator Thank you for standing by. My name is Jale, and I’ll be your conference operator today. At this time I’d like welcome everyone to the Orthofix Q1 2024 ...

Supplemental Financials 1Q24 Earnings () ORTHOFIX® Forward Looking Statements ©2024 Orthofix Medical Inc. All rights reserved | 1 May 7, 2024 ©2024 Orthofix Medical Inc. All rights reserved | Q1 Adjusted Gross Margin: 70.3% vs 70.7% in 1Q23 Q1 R&D: $19.5M; 10.3% of sales vs $23.3M in 1Q23; 13.3% of sales This presentation contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, relatin ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 0-19961 ORTHOFIX MEDICAL INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation ...

Financial Performance - First quarter net sales were $188.6 million, an increase of 7.7% on a reported basis and 7.5% on a constant currency basis compared to the prior year[4]. - Net loss for the first quarter was $(36.0) million, or $(0.95) per share, representing an improvement of 44% compared to the prior year period[7]. - Non-GAAP adjusted EBITDA was $7.7 million, reflecting a 220 basis point expansion over the prior year period[4]. - Adjusted EBITDA for Q1 2024 increased to $7,665 thousand, representing 4.1% of net sales, compared to $3,204 thousand or 1.8% in Q1 2023[24]. - The company reported a loss before income taxes of $(35,169) thousand in Q1 2024, an improvement from $(60,327) thousand in Q1 2023[24]. Sales Growth - Bone Growth Therapies net sales grew by 10%, marking five consecutive quarters of double-digit net sales increases[6]. - U.S. Spine Fixation net sales increased by 16%, driven by distribution expansion and further penetration in existing accounts[6]. - Global Orthopedics net sales grew by 5% on a reported basis, primarily due to a 23% increase in U.S. Orthopedic net sales[6]. - Net sales for Q1 2024 were $188,608 thousand, an increase from $175,204 thousand in Q1 2023[26]. Guidance and Projections - The midpoint of full year 2024 net sales guidance was raised to a range of $790.0 million to $795.0 million, implying growth of 6% to 7% year-over-year[12]. - The company expects to be free cash flow positive for Q4 2024[12]. Cash Flow and Liquidity - Cash, cash equivalents, and restricted cash totaled $29.5 million as of March 31, 2024, down from $37.8 million at the end of 2023[8]. - Free cash flow for Q1 2024 was $(29,412) thousand, an improvement from $(45,855) thousand in Q1 2023[25]. - Net cash from operating activities improved to $(18,595) thousand in Q1 2024 from $(34,020) thousand in Q1 2023[25]. Expenses - Sales and marketing expenses as adjusted were $97,646 thousand, which is 51.8% of net sales, compared to $91,582 thousand or 52.3% in Q1 2023[26]. - General and administrative expenses as adjusted were $25,897 thousand, representing 13.7% of net sales, down from $31,149 thousand or 17.8% in Q1 2023[26]. - Research and development expenses as adjusted were $19,256 thousand, which is 10.2% of net sales, compared to $18,433 thousand or 10.5% in Q1 2023[26]. - The company incurred SeaSpine merger-related costs of $4,520 thousand in Q1 2024, down from $20,740 thousand in Q1 2023[24]. Margins - Gross margins were 67.5% for the quarter, with non-GAAP adjusted gross margins at 70.3%[7]. - Adjusted gross profit for Q1 2024 was $132,512 thousand, up from $123,948 thousand in Q1 2023, with an adjusted gross margin of 70.3% compared to 70.7%[23].

Click to edit Master title style 5 NewCo $ (22.049) $ (27.274) $ 13.969 3.141 1.705 0.390 6.286 1.781 8.842 1,953 ' 1.007 2.630 0.426 $ 41.694 $ 37.291 $ 19.645 $ 10.017 Adjusted Gross Margin ($ in millions) NewCo Change 122.229 $ 200.415 $ 186.373 6 8.939 0.102 0.144 · 0.125 7.037 0.373 (0.072) Adjusted gross profit 16.320 68.9% 0.431 11.689 3.481 A reconciliation of proforma Adjusted EBITDA for each quarter of 2022 to the nearest GAAP financial measure for each of SeaSpine and Orthofix is presented on thi ...