Orthofix on May 9 posted $175.2 million in first quarter revenue.
Four notes:
1. First quarter sales grew 65 percent year-over-year, according to a news relese.
2. Bone growth therapy sales grew 14 percent year-over-year. Growth was largely driven from spine and fracture product sales.
3. U.S. spinal implant sales rose 18 percent from the first quarter of 2022. Global spine sales were $149.2 million, an 80.5 percent increase year-over-year.
4. Orthofix saw a net loss of $60.9 million. In the first quarter of 2022, net losses were $4.5 million.