Company: OFIX
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001193125-25-263670
Chunk: 7

Company: Orthofix Medical Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 8
Chunk 7
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1. Business and basis of presentation Description of the BusinessOrthofix Medical Inc. (the "Company" or "Orthofix") is a global medical technology company headquartered in Lewisville, Texas. By providing medical technologies that heal musculoskeletal pathologies, Orthofix delivers exceptional experiences and life-changing solutions to patients around the world. Orthofix offers a comprehensive portfolio of spinal hardware, bone growth therapies, specialized orthopedic solutions, biologics, and enabling technologies, including the 7D FLASH navigation system.Basis of PresentationThe accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Pursuant to these rules and regulations, certain information and note disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. In the opinion of management, all adjustments (consisting of normal recurring items) considered necessary for a fair statement have been included. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes contained in the Company's 2024 Form 10-K. Operating results for the three and nine months ended September 30, 2025, are not necessarily indicative of the results that may be expected for other interim periods or the year ending December 31, 2025. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. On an ongoing basis, the Company evaluates its estimates, including those related to revenue recognition; contractual allowances; allowances for expected credit losses; inventories; valuation of intangible assets; goodwill; fair value measurements, including contingent consideration; litigation and contingent liabilities; tax matters; and share-based compensation. Actual results could differ from these estimates.Changes in Presentation of Consolidated Financial StatementsCertain prior year balances have been reclassified in the condensed consolidated financial statements to conform to current period presentation. 

2. Recently adopted accounting standards and recently issued accounting pronouncementsAdoption of Accounting Standards Update ("ASU") 2023-09 - Improvements to Income Tax DisclosuresIn December 2023, the Financial Accounting Standards Board ("FASB") issued ASU 2023-09, which enhances the transparency and usefulness of income tax disclosures required pursuant to Topic 740, Income Taxes, to provide information to