Orthofix saw small gains in its second-quarter revenue, according to financial results shared Aug. 5.
Six notes:
1. Net sales including M6 discs and pro forma net sales were $203.1 million, a 2.3% increase year over year.
2. U.S. spine fixation sales grew 5% year over year, and procedure volume increased 7%.
3. Global orthopedic net sales were $33.3 million, a 5% increase. U.S. orthopedic sales grew 28% year over year.
4. Orthofix saw its sixth consecutive quarter of EBITDA margin expansion and has $4.5 million of positive free cash flow during the second quarter.
5. Bone growth therapies saw $62.6 million, a 5.8% increase year over year. Spinal implants, biologics and enabling technologies saw $104.8 million, a 3.2% increase.
6. “Orthofix’s second quarter results demonstrate clear progress on our three-year plan to transform the business,” President and CEO Massimo Calafiore, said in a news release. “Our disciplined approach led to strong adjusted EBITDA margin growth and positive free cash flow generation, underscoring our ability to grow the business responsibly. Strategic initiatives, like accelerating distributor transitions in certain under-penetrated U.S. territories, are gaining traction and creating a powerful foundation for a more scalable commercial organization to drive our next phase of growth.”
