Orthofix Medical Inc., together with its subsidiaries, operates as a medical technology company in the United States, Italy, the United Kingdom, France, Germany, Brazil, and internationally. It operates through two segments, Global Spine and Global Limb Reconstruction. The Global Spine segment manufactures, distributes, and provides support services for bone growth stimulation devices that enhance bone fusion; designs, develops, and markets a portfolio of spine fixation implant products for use throughout the spinal column; and offers bone graft substitutes, such as fiber-based and particulate demineralized bone matrices, cellular bone allografts, collagen ceramic matrices, and synthetic bone void fillers in various forms with supporting graft delivery solutions to treat various spinal, orthopedic, and dental conditions. This segment also designs, develops, and markets a portfolio of navigation technologies, including tracked surgical tools, intelligent software, and imaging equipment based on machine-vision and optical innovations; and 7D FLASH Navigation System, a navigation platform for spinal and cranial procedures. The Global Limb Reconstruction segment offers products and solutions for the underserved limb reconstruction market, including deformity correction, limb lengthening, complex fracture management, and limb preservation. This segment also designs, develops, and markets external and internal fixation limb reconstruction products that are coupled with enabling digital technologies to support the entire patient care continuum. It sells its products through distributors and sales representatives to hospitals, healthcare organizations, healthcare providers, ambulatory surgery centers, and out-patient hospitals. The company was formerly known as Orthofix International N.V. and changed its name to Orthofix Medical Inc. in July 2018. Orthofix Medical Inc. was founded in 1980 and is headquartered in Lewisville, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $822M | $10M | $-92M | $-1M | -20.5% | 2.9% | - |
| 2024 | $799M | $-18M | $-126M | $-9M | -25.0% | 7.1% | - |
| 2023 | $747M | $-79M | $-151M | $-108M | -25.3% | 62.1% | - |
| 2022 | $461M | $16M | $-20M | $-35M | -5.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 460.71 | 746.64 | 799.49 | 822.31 |
| Cost Of Revenue | 123.54 | 260.37 | 253.61 | 256.30 |
| Gross Profit | 337.17 | 486.27 | 545.88 | 566.02 |
| Operating Expense | 366.04 | 628.03 | 623.60 | 648.59 |
| Operating Income | -28.87 | -141.76 | -77.72 | -82.57 |
| EBITDA | 15.66 | -79.49 | -18.28 | 9.93 |
| EBIT | -16.42 | -140.05 | -94.24 | -73.32 |
| Pretax Income | -17.71 | -148.68 | -123.88 | -90.81 |
| Tax Provision | 2.04 | 2.72 | 2.12 | 1.38 |
| Net Income | -19.75 | -151.40 | -126 | -92.19 |
| Net Income Common Stockholders | -19.75 | -151.40 | -126 | -92.19 |
| Total Expenses | 489.58 | 888.40 | 877.21 | 904.88 |
| Interest Expense | 1.29 | 8.63 | 29.63 | 17.49 |
| Research And Development | 49.06 | 80.23 | 73.64 | 65.85 |
| Selling General And Administration | 308.78 | 530.39 | 532.52 | 554.33 |
| Normalized EBITDA | 0.06 | -82.14 | -11.38 | 8.79 |
| Normalized Income | -32.07 | -153.49 | -120.55 | -93.09 |
| Basic EPS | -0.98 | -4.12 | -3.30 | -2.33 |
| Diluted EPS | -0.98 | -4.12 | -3.30 | -2.33 |
| Tax Effect Of Unusual Items | 3.28 | 0.56 | -1.45 | 0.24 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.21 | 0.21 |
| Total Unusual Items | 15.60 | 2.65 | -6.90 | 1.14 |
| Total Unusual Items Excluding Goodwill | 15.60 | 2.65 | -6.90 | 1.14 |
| Net Income From Continuing Operation Net Minority Interest | -19.75 | -151.40 | -126 | -92.19 |
| Reconciled Depreciation | 32.08 | 60.56 | 75.96 | 83.25 |
| Reconciled Cost Of Revenue | 99.67 | 217.22 | 195.08 | 201.45 |
| Net Interest Income | -1.29 | -8.63 | -29.63 | -17.49 |
| Net Income From Continuing And Discontinued Operation | -19.75 | -151.40 | -126 | -92.19 |
| Total Operating Income As Reported | -13.27 | -139.11 | -84.62 | -81.43 |
| Diluted Average Shares | 20.10 | 36.73 | 38.10 | 39.60 |
| Basic Average Shares | 20.10 | 36.73 | 38.10 | 39.60 |
| Diluted NI Availto Com Stockholders | -19.75 | -151.40 | -126 | -92.19 |
| Net Income Including Noncontrolling Interests | -19.75 | -151.40 | -126 | -92.19 |
| Net Income Continuous Operations | -19.75 | -151.40 | -126 | -92.19 |
| Other Income Expense | 12.45 | 1.71 | -16.52 | 9.25 |
| Other Non Operating Income Expenses | -3.15 | -0.94 | -9.62 | 8.11 |
| Special Income Charges | 15.60 | 2.65 | -6.90 | 1.14 |
| Other Special Charges | 1.60 | 0.05 | 0 | 0 |
| Impairment Of Capital Assets | 0 | 0 | 0 | 0 |
| Restructuring And Mergern Acquisition | -17.20 | -2.70 | 6.90 | -1.14 |
| Net Non Operating Interest Income Expense | -1.29 | -8.63 | -29.63 | -17.49 |
| Interest Expense Non Operating | 1.29 | 8.63 | 29.63 | 17.49 |
| Depreciation Amortization Depletion Income Statement | 8.20 | 17.41 | 17.44 | 28.41 |
| Depreciation And Amortization In Income Statement | 8.20 | 17.41 | 17.44 | 28.41 |
| Amortization | 8.20 | 17.41 | 17.44 | 28.41 |
| Amortization Of Intangibles Income Statement | 8.20 | 17.41 | 17.44 | 28.41 |
| Selling And Marketing Expense | 228.81 | 385.74 | 0 | 0 |
| General And Administrative Expense | 79.97 | 144.66 | 0 | 0 |
| Other Gand A | 79.97 | 144.66 | 0 | 0 |
| Operating Revenue | 460.71 | 746.64 | 799.49 | 822.31 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Orthofix Medical Inc.this co. | OFIX | $461M | - | 1.02 | -20.5% | -94.86 |
| agilon health, inc. | AGL | $465M | - | 3.65 | -308.8% | -0.53 |
| Ginkgo Bioworks Holdings, Inc. | DNA | $464M | - | 0.86 | -61.5% | -1.69 |
| Varex Imaging Corporation | VREX | $462M | - | 0.97 | -14.4% | 7.73 |
| 4D Molecular Therapeutics, Inc. | FDMT | $461M |
| - |
| 1.00 |
| -27.7% |
| -0.45 |
| MiMedx Group, Inc. | MDXG | $458M | 9.64 | 1.78 | 18.9% | 4.00 |
| Pacific Biosciences of California, Inc. | PACB | $456M | - | 81.67 | -10214.5% | -5.12 |
| Candel Therapeutics, Inc. | CADL | $453M | - | 6.53 | -73.5% | -8.07 |
| Larimar Therapeutics, Inc. | LRMR | $451M | - | 4.62 | -212.2% | -1.85 |
| Peer Median | - | 9.64 | 2.72 | -67.5% | -1.11 | |