Orthofix saw a 7% year-over-year increase in net sales during the third quarter of 2024, according to financial results posted Nov. 7.
Six things to know:
1. Net sales were $196.6 million.
2. U.S. spinal fixation sales grew 18% year over year, and U.S. orthopedic sales grew 15% year over year.
3. The company entered a record number of 7D Flash navigation system earnout agreements and matched its record for the most 7D placements in any quarter to date.
4. Orthofix reported free cash flow of $5.9 million but also saw a net loss of $27.4 million.
5. Orthofix is maintaining its full-year sales trajectory of $795 million to $800 million.
6. There are also three new financial targets for 2025 through 2027: 6% to 7% net sales growth, mid-teens non-GAAP adjusted EBITDA and positive free cash flow generation.