Orthofix Medical reported $207.9 million in third-quarter net sales, up 1.1% year over year, but lowered its full-year 2026 guidance amid weaker spine performance.
The medical technology company reported a net loss of $6.1 million, compared with $22.8 million in the same period last year, according to a Nov. 9 news release. The year-ago quarter included $21.5 million in litigation and investigation costs.
Non-GAAP adjusted EBITDA reached $26.0 million.
Global Spine sales increased 0.9% year over year on a pro forma basis, which excludes the discontinued M6 product lines, while sales in the Spinal Implants, Biologics and Enabling Technologies category declined 1.1%. Global Limb Reconstruction sales rose 8.5%, and Therapeutic Solutions sales rose 4.5%.
Orthofix lowered its full-year pro forma net sales guidance to $825 million to $830 million, down from $845 million to $855 million. The company also reduced its adjusted EBITDA outlook to $86 million to $88 million from $95 million to $98 million.
The company said the revised outlook reflects third-quarter performance and the anticipated fourth-quarter impact of actions to improve U.S. Spine execution, instrument set availability and asset productivity.
CEO Massimo Calafiore said the company is taking steps to improve U.S. Spine performance, including strengthening commercial execution, improving instrument set supply and allocation, and increasing asset productivity by focusing resources on the highest-performing distributor partners, products and market opportunities.
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