Medical device company Orthofix recorded $184 million in net sales during the third quarter, according to a Nov. 8 news release from the company.
Here are six additional notes:
1. Net sales in the 2023 third quarter increased 61.4% over 2022 third quarter results.
2. Of the $184 million in net sales, $154.4 million came from global spine sales, and $29.7 million was generated from global orthopedic sales.
3. Gross profit in the third quarter of 2023 was $119.8 million
4. Net loss for the quarter was $28.9 million.
5. Orthofix predicts net sales for the entirety of 2023 to be between $739 million and $744 million.
6. The company also entered into a four-year financing agreement that has a borrowing capacity of up to $150 million.