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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 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 or organization) ...

Exhibit 99.1 Orthofix Reports Fourth Quarter and Full Year 2023 Results Recent Highlights LEWISVILLE, Texas — March 5, 2024 — Orthofix Medical Inc. (NASDAQ:OFIX) today reported its financial results for the fourth quarter and year ended December 31, 2023, and issued guidance for the full year 2024. Fourth quarter net sales were $200.4 million, an increase of 64% on a reported basis and 7% on a pro forma constant currency basis. Net loss was $(22.2) million and earnings per share ("EPS") was $(0.59) on a rep ...

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 September 30, 2023 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) Delaware 98-1340767 (State or other jurisd ...

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 June 30, 2023 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) Delaware 98-1340767 (State or other jurisdictio ...

Orthofix Medical Inc. (NASDAQ:OFIX) Q1 2023 Results Conference Call May 9, 2023 4:30 PM ET Company Participants Alexa Huerta - Senior Director, Investor Relations Keith Valentine - President and Chief Executive Officer John Bostjancic - Chief Financial Officer Conference Call Participants Mathew Blackman - Stifel Operator Thank you for standing by. My name is Brendan, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Orthofix Medical Inc. Quarter One Earnings ...

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, 2023 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) Delaware 98-1340767 (State or other jurisdicti ...

Financial Data and Key Metrics Changes - SeaSpine's total revenue for Q4 2022 was $63.4 million, a 14% increase year-over-year, with U.S. growth at 16% [1] - Orthofix reported total revenue of $122.2 million for Q4 2022, a 2% decrease year-over-year on a reported basis, but flat on a constant currency basis [4] - Net loss for SeaSpine in Q4 2022 was $19 million, compared to a net loss of $18.8 million in Q4 2021 [3] - Orthofix's GAAP loss per share for Q4 2022 was $0.35, an improvement from a loss of $1.65 per share in Q4 2021 [9] Business Line Data and Key Metrics Changes - U.S. spinal implant revenue for SeaSpine increased by more than 23% in Q4 2022, while U.S. Biologics revenue grew by 20% [1][2] - Orthofix's Bone Growth Therapies (BGT) sales were $51 million, up 3% year-over-year [5] - Orthofix's Global Orthopedics revenue decreased by 2% on a reported basis but increased by 6% on a constant currency basis [6] Market Data and Key Metrics Changes - International spinal implant sales for SeaSpine were down 57% in Q4 2022 due to the exit from the European market [2] - Orthofix's international total net sales were $26.6 million, or 22% of total revenue, up 6% in constant currency over Q4 2021 [123] Company Strategy and Development Direction - The merger between Orthofix and SeaSpine aims to create a leading global spine and orthopedic company, focusing on innovative solutions and expanded commercial access [88][39] - The combined company plans to leverage complementary product portfolios to address unmet clinical needs in the musculoskeletal space [57] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth momentum from both standalone companies and the potential for synergy from the merger [39][40] - The company anticipates first quarter 2023 revenues in the range of $166 million to $170 million, representing 7% to 10% year-over-year constant currency growth [89] Other Important Information - Orthofix plans to host an Analyst Teach-In on March 13, 2023, to provide further insights into the merger and future growth strategies [11] - The company has no borrowings under its $300 million secured revolving credit facility as of December 31, 2022, but borrowed $30 million in January 2023 for working capital and merger-related expenses [38] Q&A Session Summary Question: Guidance during integration - Management indicated that they feel good about Q1 growth and are cautious about setting full-year expectations due to potential dis-synergy risks [15][40] Question: Sales force stability post-merger - Management noted early positive signs of sales force stability and cross-selling opportunities, with both legacy products being utilized together [18][45] Question: G&A expenditures and synergies - Management discussed that Q1 will see heavy deal-specific costs, with a transition to costs aimed at achieving synergies in subsequent quarters [22][115] Question: Segment reporting going forward - Management is still evaluating how to report segments and will provide more clarity by the first quarter reporting deadline [113] Question: Revenue synergies in 2023 guidance - Management confirmed that the 2023 guidance does not include material revenue synergies, but they are confident in mitigating dis-synergy risks [108][110]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Address of principal executive offices) (Zip Code) (214) 937-2000 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: For the transition period f ...