Company: OFIX
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000950170-25-026066
Chunk: 173

Company: Orthofix Medical Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1B
Chunk 173
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 of the U.S. 

•Decrease of $10.1 million associated with higher financial statement losses offset by valuation allowances 

A reconciliation of the effective tax rate for each year is reported in Note 20 to the Notes to the Consolidated Financial Statements contained in Item 8 of this Annual Report.

Liquidity and Capital Resources

Cash, cash equivalents, and restricted cash at December 31, 2024, was $85.7 million compared to $37.8 million at December 31, 2023.

    Year Ended December, 31,

    (U.S. Dollars, in thousands)
     
    2024

    2023

    Change

    Net cash provided by (used in) operating activities
     
    $
    25,790

    $
    (45,753
    )
     
    $
    71,543

    Net cash used in investing activities

    (27,580
    )

    (33,131
    )

    5,551

    Net cash provided by (used in) financing activities

    50,709

    65,322

    (14,613
    )

    Effect of exchange rate changes on cash and restricted cash

    (938
    )

    619

    (1,557
    )

    Net change in cash, cash equivalents, and restricted cash
     
    $
    47,981

    $
    (12,943
    )
     
    $
    60,924

The following table presents free cash flow, a non-GAAP financial measure, which is calculated by subtracting capital expenditures from net cash provided by or used in operating activities.

    Year Ended December, 31,

    (U.S. Dollars, in thousands)
     
    2024

    2023

    Change

    Net cash provided by (used in) operating activities
     
    $
    25,790

    $
    (45,753
    )
     
    $
    71,543

    Capital expenditures

    (34,876
    )

    (62,050
    )

    27,174

    Free cash flow
     
    $
    (9,086
    )
     
    $
    (107,803
    )
     
    $
    98,717

Operating Activities 

Cash flows from operating activities increased $71.5 million

•Favorable change in