Company: OFIX
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000950170-25-026066
Chunk: 271

Company: Orthofix Medical Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 271
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•U.S. Orthopedics net sales growth of 16.4% compared to prior year

•Entered into record number of 7D FLASH Navigation System placements for full year 2024

•Entered into new $275.0 million credit facility that replaces existing financing and further optimized our capital structure to support long-term profitable growth

Results of Operations 

The following table presents certain items in our consolidated statements of operations as a percent of net sales:

    Year ended December 31,

    2024(%)

    2023(%)

    2022(%)

    Net sales

    100.0

    100.0

    100.0

    Cost of sales

    31.7

    34.9

    26.8

    Gross profit

    68.3

    65.1

    73.2

    Sales, general, and administrative

    66.6

    71.0

    67.0

    Research and development

    9.2

    10.7

    10.7

    Acquisition-related amortization and remeasurement

    3.1

    2.0

    (1.6
    )

    Operating loss

    (10.6
    )

    (18.6
    )

    (2.9
    )

    Net loss

    (15.8
    )

    (20.3
    )

    (4.3
    )

57

Net Sales by Reporting Segment

The following table provides net sales by major product category by reporting segment:

    Percentage Change

    2024/2023

    2024/2023

    2023/2022

    2023/2022

    (U.S. Dollars, in thousands)
     
    2024

    2023

    2022

    Reported

    Constant Currency

    Reported

    Constant Currency

    Bone Growth Therapies
     
    $
    233,405

    $
    212,530

    $
    187,247

    9.8
    %

    9.8
    %

    13.5
    %

    13.5
    %

    Spinal Implants, Biologics, and Enabling Technologies

    441,909

    418,789