Orthofix sees $36M net loss in Q1

Spinal Tech

Orthofix saw sales growth but a net loss in the first quarter of 2024, according to financial results posted May 7.

Net sales were $188.6 million, a 7.7% year-over-year increase, according to a news release. Orthofix's bone growth therapies segment grew 10% year-over-year, and this has been the fifth consecutive quarter with double-digit growth in that area.

Global orthopedic sales were $27.3 million, an increase of 5.1% year-over-year. Global spine sales grew 8.1% year-over-year with $161.3 million.

Orthofix saw a net loss of $36 million. The company is projecting 2024 sales between $790 million to $795 million.

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