Company: OFIX
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000950170-25-026066
Chunk: 264

Company: Orthofix Medical Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1B
Chunk 264
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        Weighted average common shares-diluted

        38,134

        36,729

        20,054

      There were 7.2 million, 6.5 million, and 2.3 million weighted average outstanding options, time-based restricted stock awards and stock units, performance-based stock units, and market-based stock units not included in the diluted earnings per share computation for the years ended December 31, 2024, 2023, and 2022, respectively, because inclusion of these awards was anti-dilutive or, for performance-based stock units and market-based stock units, all necessary conditions had not been satisfied by the end of the respective period. 

22.	Subsequent eventsConsistent with Orthofix’s strategic focus on spinal fixation and deformity correction, the Company made an assessment and decided in January 2025 to discontinue its M6-C artificial cervical disc and M6-L artificial lumbar disc product lines (together, the “M6 artificial discs” or “M6 devices”) and will allocate associated resources and investment to more profitable growth opportunities in those focus areas on a prospective basis. Global net sales for the M6-C artificial cervical and M6-L artificial lumbar discs were $23.4 million in 2024. Manufacturing activities related to the M6 artificial discs are expected to cease before March 31, 2025. Orthofix intends to fulfill all requirements related to post-market surveillance activities and meet our obligations with respect to premarket approval (“PMA”) of M6 devices, including completion of the investigational device exemption (“IDE”) study in the United States.Management has evaluated this decision within the context of ASC 855, Subsequent Events, and has determined this to be a nonrecognized subsequent event. Accordingly, the Company has not incorporated the financial impact of this decision within its consolidated balance sheet, statements of operations, or cash flows as of and for the period ending December 31, 2024. The related financial impact of this decision is currently being evaluated and cannot be reasonably estimated as of the date of these financial statements. However, this information will be reflected within the Company’s consolidated financial statements for the quarter ended March 31, 2025.

F-42