Company: OFIX
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000950170-25-026066
Chunk: 275

Company: Orthofix Medical Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 275
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 2024/2023

    2023/2022

    Research and development
     
    $
    73,643

    $
    80,231

    $
    49,065

    -8.2
    %

    63.5
    %

    As a percentage of net sales

    9.2
    %

    10.7
    %

    10.7
    %

    -1.5
    %

    0.0
    %

2024 Compared to 2023

Research and development expense decreased $6.6 million

•Decrease of $7.0 million in costs to comply with the European Union Medical Device Regulations

•Decrease of $2.2 million related to merger and integration-related expenses, primarily related to severance and retention costs. In addition, research and development expenses were further reduced by the realization of Merger-related synergies

•Partially offset by an increase in certain product development and clinical expenses

59

Acquisition-related Amortization and Remeasurement

    Percentage Change

    (U.S. Dollars, in thousands)
     
    2024

    2023

    2022

    2024/2023

    2023/2022

    Acquisition-related amortization and remeasurement
     
    $
    24,336

    $
    14,757

    $
    (7,404
    )

    64.9
    %

    -299.3
    %

    As a percentage of net sales

    3.1
    %

    2.0
    %

    -1.6
    %

    1.1
    %

    3.6
    %

2024 Compared to 2023

Acquisition-related amortization and remeasurement increased $9.6 million

•Increase of $9.6 million associated with the remeasurement of a contingent consideration obligation with Lattus Spine LLC assumed in the Merger

Non-operating Expense

    Percentage Change

    (U.S. Dollars, in thousands)
     
    2024

    2023

    2022

    2024/2023

    2023/2022

    Interest expense, net
     
    $
    (29,631
    )
     
    $
    (8,631
    )