Company: OFIX
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000950170-25-026066
Chunk: 273

Company: Orthofix Medical Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 273
---
ii) capitalization of cross-selling opportunities, and (iii) continued growth and adoption of AccelStim

•Spinal Implants, Biologics, and Enabling Technologies net sales increased $23.1 million, or 5.5%, primarily due to increased sales growth from new and existing high-volume distribution partners, particularly within Spinal Implants and Biologics, which saw growth in each of our cervical, interbody, thoracolumbar, and demineralized bone matrices franchises; growth in these areas were partially offset by a decline in motion preservation net sales

Global Orthopedics

Global Orthopedics offers products and solutions that allow physicians to successfully treat a variety of orthopedic conditions specifically related to limb reconstruction and deformity correction unrelated to the spine. Global Orthopedics distributes its products world-wide through a network of distributors and sales representatives to sell orthopedic products to hospitals and healthcare providers.

2024 Compared to 2023 

Net sales increased $8.9 million, or 7.7% on a reported basis and 7.9% on a constant currency basis

•U.S. growth of $4.7 million, or 16.4%, largely due to investments made in recent product launches, commercial execution within our sales channel, and from growth within our OSCAR PRO product line

•International growth of $4.3 million, or 5.0% on a constant currency basis, driven by recent product launches in Europe and offset by the timing of certain tender offers and stocking distributor orders

58

•Decrease of $0.2 million due to movement in foreign current exchange rates, which had an unfavorable impact on net sales in 2024

Gross Profit 

    Percentage Change

    (U.S. Dollars, in thousands)
     
    2024

    2023

    2022

    2024/2023

    2023/2022

    Net sales
     
    $
    799,491

    $
    746,641

    $
    460,713

    7.1
    %

    62.1
    %

    Cost of sales

    253,606

    260,368

    123,544

    -2.6
    %

    110.7
    %

    Gross profit
     
    $
    545,885

    $
    486,273

    $