Five notes:
1. Net sales of $198.6 million represent a 6% year-over-year increase, according to a news release.
2. U.S. spine fixation sales grew 12% year-over-year, and this was largely driven by distribution expansion and growing in existing markets.
3. Bone growth therapies sales also grew 12% year-over-year. This is the sixth consecutive quarter with double-digit sales increases for the segment.
4. The company’s net loss grew year-over-year in the second quarter. The company saw a $33.4 million net loss in the second quarter compared to $26.7 million in the same time last year.
5. Orthofix increased its 2024 net sales guidance and estimates full-year sales to be $795 million to $800 million.
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 11-13 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
