Form 8-K
8-K — Orthofix Medical Inc.
Accession: 0001193125-26-333817
Filed: 2026-08-05
Period: 2026-08-05
CIK: 0000884624
SIC: 3841 (SURGICAL & MEDICAL INSTRUMENTS & APPARATUS)
Item: Results of Operations and Financial Condition
Item: Regulation FD Disclosure
Item: Financial Statements and Exhibits
Documents
8-K — ofix-20260805.htm (Primary)
EX-99.1 (ofix-ex99_1.htm)
EX-99.2 (ofix-ex99_2.htm)
GRAPHIC (img236010591_0.jpg)
GRAPHIC (ofix-ex99_2s1.jpg)
GRAPHIC (ofix-ex99_2s2.jpg)
GRAPHIC (ofix-ex99_2s3.jpg)
GRAPHIC (ofix-ex99_2s4.jpg)
GRAPHIC (ofix-ex99_2s5.jpg)
GRAPHIC (ofix-ex99_2s6.jpg)
GRAPHIC (ofix-ex99_2s7.jpg)
GRAPHIC (ofix-ex99_2s8.jpg)
GRAPHIC (ofix-ex99_2s9.jpg)
GRAPHIC (ofix-ex99_2s10.jpg)
GRAPHIC (ofix-ex99_2s11.jpg)
GRAPHIC (ofix-ex99_2s12.jpg)
GRAPHIC (ofix-ex99_2s13.jpg)
GRAPHIC (ofix-ex99_2s14.jpg)
GRAPHIC (ofix-ex99_2s15.jpg)
GRAPHIC (ofix-ex99_2s16.jpg)
GRAPHIC (ofix-ex99_2s17.jpg)
GRAPHIC (ofix-ex99_2s18.jpg)
GRAPHIC (ofix-ex99_2s19.jpg)
GRAPHIC (ofix-ex99_2s20.jpg)
GRAPHIC (ofix-ex99_2s21.jpg)
GRAPHIC (ofix-ex99_2s22.jpg)
GRAPHIC (ofix-ex99_2s23.jpg)
GRAPHIC (ofix-ex99_2s24.jpg)
GRAPHIC (ofix-ex99_2s25.jpg)
GRAPHIC (ofix-ex99_2s26.jpg)
GRAPHIC (ofix-ex99_2s27.jpg)
GRAPHIC (ofix-ex99_2s28.jpg)
GRAPHIC (ofix-ex99_2s29.jpg)
GRAPHIC (ofix-ex99_2s30.jpg)
GRAPHIC (ofix-ex99_2s31.jpg)
GRAPHIC (ofix-ex99_2s32.jpg)
GRAPHIC (ofix-ex99_2s33.jpg)
GRAPHIC (ofix-ex99_2s34.jpg)
GRAPHIC (ofix-ex99_2s35.jpg)
GRAPHIC (ofix-ex99_2s36.jpg)
GRAPHIC (ofix-ex99_2s37.jpg)
GRAPHIC (ofix-ex99_2s38.jpg)
GRAPHIC (ofix-ex99_2s39.jpg)
GRAPHIC (ofix-ex99_2s40.jpg)
GRAPHIC (ofix-ex99_2s41.jpg)
GRAPHIC (ofix-ex99_2s42.jpg)
GRAPHIC (ofix-ex99_2s43.jpg)
GRAPHIC (ofix-ex99_2s44.jpg)
GRAPHIC (ofix-ex99_2s45.jpg)
GRAPHIC (ofix-ex99_2s46.jpg)
GRAPHIC (ofix-ex99_2s47.jpg)
XML — IDEA: XBRL DOCUMENT (R1.htm)
8-K
8-K (Primary)
Filename: ofix-20260805.htm · Sequence: 1
8-K
false000088462400008846242026-08-052026-08-05
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 05, 2026
ORTHOFIX MEDICAL INC.
(Exact name of Registrant as Specified in Its Charter)
Delaware
000-19961
98-1340767
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
3451 Plano Parkway
Lewisville, Texas
75056
(Address of Principal Executive Offices)
(Zip Code)
Registrant's Telephone Number, Including Area Code: (214) 937-2000
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol(s)
Name of each exchange on which registered
Common stock, $0.10 par value per share
OFIX
Nasdaq Global Select Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On August 5, 2026, Orthofix Medical Inc. (the "Company") issued a press release announcing, among other things, its financial results for the second quarter ended June 30, 2026. A copy of the press release is furnished herewith as Exhibit 99.1 and attached hereto.
The information furnished in this Item 2.02, including the exhibit furnished herewith as Exhibit 99.1, will not be treated as "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. This information will not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended (the "Securities Act"), or into another filing under the Exchange Act, unless that filing expressly incorporates by reference this Item 2.02 of this report.
Discussion of Non-GAAP Financial Measures
In addition to using standard measures of performance and liquidity that are recognized in accordance with accounting principles generally accepted in the United States of America ("GAAP"), the Company uses additional financial measures excluding certain GAAP items ("non-GAAP measures"), such as:
Constant Currency
Constant currency is a non-GAAP measure, which the Company calculates by using foreign currency rates from the comparable, prior-year period, to present net sales at comparable rates. Constant currency can be presented for numerous GAAP measures, but is most commonly used by management to analyze net sales without the impact of changes in foreign currency rates.
Free Cash Flow
Free cash flow is a non-GAAP financial measure, which is calculated by subtracting capital expenditures from cash flow provided by or used in operating activities. Free cash flow is an important indicator of how much cash is generated or used by the Company's business operations, including capital expenditures. Management uses free cash flow to measure progress on its capital efficiency and cash flow initiatives.
Adjusted Gross Profit and Adjusted Gross Margin
Adjusted gross profit represents GAAP gross profit with adjustments to exclude the impact of the certain items recorded to cost of goods sold. Potential adjustments are listed within the section below under the header "Non-GAAP Adjustments." Adjusted gross margin represents adjusted gross profit as a percentage of GAAP net sales.
Adjusted Net Income (Loss)
Adjusted net income (loss) represents GAAP net loss with adjustments to exclude the impact of certain items recorded in such GAAP net loss. Potential adjustments are listed within the section below under the header "Non-GAAP Adjustments."
Adjusted Operating Expenses
Adjusted operating expenses represents GAAP operating expenses, such as sales, general, and administrative expense, and research and development expense, with adjustments to exclude the impact of certain items recorded in such GAAP operating expenses. Potential adjustments are listed within the section below under the header "Non-GAAP Adjustments."
Adjusted Non-Operating Expenses
Adjusted non-operating expenses represents GAAP non-operating expenses, such as interest income (expense), net and other income (expense), net, with adjustments to exclude the impact of certain items recorded in such GAAP non-operating expenses. Potential adjustments are listed within the section below under the header "Non-GAAP Adjustments."
EBITDA
EBITDA is a non-GAAP financial measure, which the Company calculates by adding interest expense (income), net; income tax expense (benefit); and depreciation and amortization to net income (loss). EBITDA provides management with additional insight into the Company's results of operations. Adjusted EBITDA, which is the primary metric used by the Company's chief operating decision maker in managing the business, consists of EBITDA with adjustments to exclude certain items listed within the section below under the header "Non-GAAP Adjustments."
Non-GAAP Adjustments
The Company's non-GAAP financial measures provide management with additional insight into the Company's results of operations and reflect the exclusion of the following items:
•
Share-based compensation and long-term incentive plan expense – Costs related to awards granted under the Company's share-based compensation plans, which include stock options, performance-based or market-based stock options, restricted stock units, performance-based or market-based restricted stock units, stock issued under the Company's stock purchase plan, and performance-based cash-settled awards; see the share-based compensation footnote in the Company's Form 10-Q for the quarter ended June 30, 2026, for an allocation of share-based compensation costs by consolidated
statement of operations line item. Management excludes this item when evaluating the Company's operating performance as it primarily represents a non-cash expense.
•
Foreign exchange impact – Gains and losses related to foreign currency transactions, which are recorded as other income (expense), net. Management excludes this item when evaluating the Company's operating results as it is primarily a non-cash expense or benefit and is non-operating in nature.
•
SeaSpine merger-related costs – Costs related to the Company's merger with SeaSpine Holdings Corporation ("SeaSpine"), which was consummated in January 2023, including costs relating to integration efforts, severance and retention costs, product rationalization charges, contract termination penalties, and professional fees related to the merger. Management excludes this item when evaluating the Company's operating results as these costs associated with this event are of a temporary nature, are not related to the Company's core operating performance, and are not expected to recur at a similar frequency and magnitude in the future.
•
Restructuring costs and impairments related to M6 product lines – Restructuring costs, including severance-related benefits, and impairment charges incurred as a result of the Company's decision to discontinue its M6 artificial disc product lines (the "M6 product lines"). Management excludes this item when evaluating the Company's operating results as these costs associated with this event are one-time in nature and are not related to the Company's expected ongoing operations.
•
Operating losses attributable to M6 product lines – Represents operating income or loss generated by the Company's discontinued M6 product lines, including the associated net sales, cost of sales, and operating expenses directly attributable to those product lines. Management excludes these amounts when evaluating operating performance because the Company has exited the M6 business and such results are not reflective of ongoing operations.
•
Strategic investments – Costs related to the Company's strategic investments, such as due diligence and integration costs (unrelated to the merger with SeaSpine), which are primarily recorded as sales, general, and administrative expenses. These costs are not factored into the evaluation of the Company's performance by management because they are of a temporary nature, not related to the Company's core operating performance, and because the frequency and amount of such costs vary significantly based on the timing and magnitude of the Company's strategic investments.
•
Acquisition-related fair value adjustments – Comprised of (i) gains and losses related to remeasurement of contingent consideration to fair value, which are recorded as operating expenses, (ii) recognized costs related to acquired in-process research and development ("IPR&D") assets, which are expensed immediately, and (iii) amortization of acquired inventory fair market value adjustments. Management excludes these adjustments when evaluating the Company's operating results as (i) the remeasurement of contingent consideration is primarily non-cash in nature, (ii) the frequency and amount of IPR&D charges can vary significantly based on the timing and magnitude of the Company's acquisition transactions, and (iii) inventory fair market value adjustments are of a temporary and non-cash nature.
•
Amortization/depreciation of acquired long-lived assets – Amortization of intangible assets acquired in business combinations or asset acquisitions, including items such as developed technologies, customer relationships, trade names, manufacturing agreements, and other intangible assets, and any impairment of acquired goodwill, which are recorded in cost of sales or operating expenses. This item also includes depreciation recognized on adjustments to the fair value of certain long-lived assets acquired in the merger with SeaSpine. Management excludes this item when evaluating the Company's operating performance as it represents a non-cash expense.
•
Litigation and investigation-related costs – Inclusive of (i) adverse or favorable legal judgments or negotiated legal settlements and certain related legal expenses and (ii) amounts incurred in relation to and as a result of the Board of Directors' investigation conducted by independent outside legal counsel that resulted in the departure of three former executive officers and certain charges stemming from these actions. These charges are primarily recorded within sales, general, and administrative expenses. Management excludes these items when evaluating the Company's operating results as these costs and/or benefits can vary significantly based on the timing, frequency, and magnitude of litigation matters or investigations.
•
Interest and loss on investments – Interest income and net gains or losses recognized (realized or unrealized) within interest income (expense), net and other income (expense), net, respectively, relating to certain of the Company's investments. Management excludes these items when evaluating the Company's operating performance as it typically represents a non-cash gain or loss and is not related to the Company's core operating performance.
•
Employee retention credit – Pertains to refunds received, interest earned, or professional fees incurred associated with the refundable payroll tax credit established by the Coronavirus Aid, Relief, and Economic Security Act. Management excludes this item when evaluating the Company's operating results as these amounts primarily relate to costs incurred in prior years, and are not related to the Company's ongoing operations.
•
Employee transition costs – Severance-related benefits and other employee separation costs incurred in connection with discrete workforce optimization initiatives, organizational realignment activities, and leadership changes. These expenses are primarily recorded within sales, general and administrative expenses. Management excludes these costs when
evaluating operating results because they are associated with specific actions undertaken to improve organizational efficiency and are not considered reflective of the Company's underlying operating performance.
•
Long-term income tax rate adjustment – Reflects management's expectation of a long-term normalized effective tax rate of 28% for 2025 and 2026 results, which is based on current tax law and current expected adjusted income; actual reported tax expense will ultimately be based on GAAP earnings and may differ from the expected long-term normalized effective tax rate due to a variety of factors, including the resolution of issues arising from tax audits with various tax authorities, the ability to realize deferred tax assets, and the tax impact of certain reconciling items that are excluded in determining adjusted net income (loss).
Usefulness and Limitations of Non-GAAP Financial Measures
Management uses non-GAAP measures to evaluate performance period-over-period, analyze the underlying trends in the Company's business, assess the Company's performance relative to its competitors, and establish operational goals and forecasts used in allocating resources. Management uses these non-GAAP measures as the basis for evaluating the ability of the Company's underlying operations to generate cash, prior to required investments in working capital, and to further its understanding of the performance of the Company's business units.
Material Limitations Associated with the Use of Non-GAAP Financial Measures
The non-GAAP financial measures described above may have limitations as analytical tools, and should not be considered in isolation or as a replacement for GAAP financial measures. Some of the limitations associated with the use of these non-GAAP financial measures are that they exclude items that reflect an economic cost and can have a material effect on cash flows. Similarly, certain non-cash expenses, such as share-based compensation, do not directly impact cash flows, but are part of total compensation costs accounted for under GAAP.
Compensation for Limitations Associated with Use of Non-GAAP Financial Measures
The Company compensates for the limitations of its non-GAAP financial measures by relying upon GAAP results to gain a complete picture of the Company's performance. GAAP results provide management with the ability to understand the Company's performance based on a defined set of criteria. The Company provides reconciliations of the non-GAAP financial measures to the most directly comparable GAAP measures and encourages investors to review these reconciliations.
Usefulness of Non-GAAP Financial Measures to Investors
The Company believes that providing non-GAAP financial measures, which exclude certain items, offers investors greater transparency into the information used by management in its financial and operational decision-making. Management believes it is important to provide investors with the same non-GAAP financial measures it uses to supplement information regarding the performance and underlying trends of the Company's business operations in order to facilitate comparisons to the Company's historical operating results and internally evaluate the effectiveness of the Company's operating strategies. The Company believes that these non-GAAP financial measures also facilitates comparisons of the Company's underlying operating performance with other companies in the industry that also supplement their GAAP results with non-GAAP financial measures.
Item 7.01 Regulation FD Disclosure.
The Company expects to use the corporate investor relations presentation furnished as Exhibit 99.2 to this report, in whole or in part, and possibly with modifications, in connection with presentations to investors, analysts, and others during the fiscal year ending December 31, 2026.
The information furnished in this Item 7.01, including the exhibit furnished herewith as Exhibit 99.2, will not be treated as "filed" for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section. This information will not be deemed incorporated by reference into any filing under the Securities Act, or into another filing under the Exchange Act, unless that filing expressly incorporates by reference this Item 7.01 of this report.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
99.1
Press release, dated August 5, 2026
99.2
Corporate Investor Relations Presentation, dated August 5, 2026
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Orthofix Medical Inc.
By:
/s/ JULIE ANDREWS
Julie Andrews
Chief Financial Officer
Date: August 5, 2026
EX-99.1
EX-99.1
Filename: ofix-ex99_1.htm · Sequence: 2
EX-99.1
Exhibit 99.1
News Release
Orthofix Reports Second Quarter 2026 Results Reflecting Continued Operational Progress
LEWISVILLE, Texas — August 5, 2026 — Orthofix Medical Inc. (NASDAQ:OFIX), a leading global medical technology company, today reported its financial results for the second quarter ended June 30, 2026, reflecting progress toward a more focused and consistent operating model. The Company also raised its full-year 2026 guidance for both net sales and adjusted EBITDA. All pro forma measures contained within this release exclude the impact of the discontinued M6™ product lines.
Highlights
•
Second quarter 2026 reported net sales of $210.9 million, representing an increase of 4% on a reported basis and 5% on a pro forma constant currency basis compared to second quarter 2025.
•
Generated double-digit constant currency growth in Global Spine Fixation1 and Global Limb Reconstruction, reflecting strong international performance and continued demand across key growth platforms.
•
Therapeutic Solutions (formerly Bone Growth Therapies) delivered 3% year-over-year net sales growth despite a temporary Medicare reimbursement headwind affecting bone growth stimulators during part of the second quarter.
•
Biologics stabilized and began to regain momentum, supported by focused commercial execution.
•
Second quarter 2026 reported net loss of $(15.8) million and non-GAAP adjusted EBITDA of $20.1 million.
“Our second quarter results provide further evidence that the operational actions we have taken over the past year are beginning to show up more clearly in the business,” said Massimo Calafiore, President and Chief Executive Officer of Orthofix. “We delivered 5% pro forma, constant-currency net sales growth, supported by double-digit growth in Global Limb Reconstruction and Spine Fixation, sequential momentum in Biologics, and the restoration of Medicare reimbursement for bone growth stimulators, which removes a meaningful headwind for our Therapeutic Solutions business as we enter the second half of the year.”
Mr. Calafiore continued, “While our transformation remains a work in progress, we believe Orthofix is operating from a stronger position than it was a year ago. Our focus remains on improving the quality of growth, strengthening commercial productivity, and building a more consistent path to profitability and cash generation. As we continue to execute with discipline, we believe we are building a stronger foundation for durable, profitable growth and long-term shareholder value.”
1 Spine Fixation is comprised of the Company’s Spinal Implants product category, excluding motion preservation product offerings.
1
Financial Results Overview
Second Quarter 2026 Net Sales and Financial Results
The following table provides net sales by major product category and by reporting segment on a pro forma basis, removing the effects of the Company’s discontinued M6 product lines:
Three Months Ended June 30,
(Unaudited, U.S. Dollars, in millions)
2026
2025
Change
Constant
Currency
Change
Therapeutic Solutions
$
64.2
$
62.6
2.5
%
2.5
%
Spinal Implants, Biologics and Enabling Technologies*
109.0
104.8
4.0
%
4.0
%
Global Spine*
173.2
167.4
3.5
%
3.5
%
Global Limb Reconstruction
37.7
33.3
13.2
%
11.0
%
Pro forma net sales*
210.9
200.7
5.1
%
4.7
%
Impact from discontinuation of M6 product lines
0.0
2.4
(97.4
%)
(97.5
%)
Reported net sales
$
210.9
$
203.1
3.8
%
3.5
%
* Results above for each of Spinal Implants, Biologics, and Enabling Technologies; Global Spine; and pro forma net sales exclude the impact from discontinuation of the M6 product lines. Since pro forma net sales represent a non-GAAP measure, see the reconciliation above of the Company’s pro forma net sales to its reported figures under U.S. GAAP. The Company’s reported figures under U.S. GAAP represent each of the pro forma line items discussed above plus the impact from discontinuation of the M6 product lines.
For the second quarter of 2026, net sales were $210.9 million, representing an increase of 3.8% on a reported basis and 4.7% on a non-GAAP pro forma constant currency basis compared to second quarter 2025.
For the second quarter of 2026, GAAP gross margins were 71.0% and were 71.7% on a non-GAAP adjusted basis.
For the second quarter of 2026, reported net loss was $(15.8) million, or $(0.39) per share compared to reported net loss of $(14.1) million, or $(0.36) per share in the prior year period. Non-GAAP adjusted EBITDA was $20.1 million, or 9.6% of pro forma net sales, in the second quarter of 2026, compared to non-GAAP adjusted EBITDA of $20.6 million, or 10.3% of pro forma net sales, in the second quarter of 2025.
Liquidity
Cash, cash equivalents, and restricted cash on June 30, 2026, totaled $104.4 million compared to $120.9 million on March 31, 2026. The decrease was due to arbitration award and settlement payments related to pending claims from three former executives terminated in 2023.
Business Outlook
Following the restoration of Medicare reimbursement for non-invasive bone growth stimulators to its prior level, second-quarter performance, and the Company’s current expectations for the remainder of the year, Orthofix is increasing its full-year 2026 guidance for both net sales and adjusted EBITDA. All measures are provided on a non-GAAP pro forma basis and are based on current foreign currency exchange rates.
•
Net sales are now expected to range from $845 million to $855 million, an increase of $7 million at both the low and high ends of the range from the Company’s previous guidance of $838 million to $848 million issued on May 21, 2026. The updated range represents approximately 5% year-over-year pro forma constant currency growth at the midpoint and does not take into account any additional exchange rate changes that may occur this year.
•
The Company is increasing its full-year 2026 non-GAAP adjusted EBITDA guidance to $95 million to $98 million, compared to its previous guidance of $90 million to $93 million issued on May 21, 2026. The updated range reflects continued operating discipline and cost management, while also balancing planned growth investments and geographic mix dynamics. At the midpoint, this represents 80 basis points of non-GAAP adjusted EBITDA margin expansion compared to 2025.
2
An investor presentation for the Company’s second quarter 2026 financial results is available in the “Events & Presentations” section of the Orthofix Investor Relations Website at ir.orthofix.com.
Conference Call
Orthofix will host a conference call today at 8:30 AM Eastern Time to discuss the Company’s financial results for the second quarter ended June 30, 2026. Interested parties may access the conference call by dialing (888) 596-4144 in the U.S., and (646) 968-2525 in all other locations, and referencing the conference ID 8700861. A webcast and replay of the conference call may be accessed in the “Events & Presentations” section of the Orthofix Investor Relations Website at ir.orthofix.com.
Internet Posting of Information
Orthofix regularly shares important updates in the “Investors” section of its website at www.orthofix.com. The Company encourages investors and potential investors to consult the Orthofix website regularly for important information about Orthofix.
About Orthofix
Orthofix is a global medical technology company dedicated to advancing healing and restoring mobility for patients with complex musculoskeletal conditions. Headquartered in Lewisville, Texas, the Company offers a differentiated portfolio of spinal implants, therapeutic solutions, limb reconstruction systems, biologics and enabling technologies, including the 7D FLASH™ Navigation System. Orthofix’s technology-enabled solutions are designed to support surgeons across the continuum of care and improve outcomes for patients. Learn more at Orthofix.com and follow Orthofix on LinkedIn.
Forward-Looking Statements
This communication contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, relating to our business and financial outlook, which are based on our current beliefs, assumptions, intentions, plans, expectations, estimates, forecasts and projections. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “projects,” “intends,” “predicts,” “potential,” “positioned,” “deliver,” or “continue” or other comparable terminology. Forward-looking statements in this communication include the Company’s expectations regarding net sales and adjusted EBITDA for the year ended December 31, 2026. Forward-looking statements are not guarantees of our future performance, are based on our current expectations and assumptions regarding our business, the economy and other future conditions, and are subject to risks, uncertainties and changes in circumstances that are difficult to predict, including the risks described in Part I, Item 1A under the heading Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2025, and in Part II, Item 1A under the heading Risk Factors in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2026. Factors that could cause future results to differ from those expressed by forward-looking statements include, but are not limited to, (i) our ability to maintain operations to support our customers and patients in the near-term and to capitalize on future growth opportunities, (ii) risks associated with acceptance of surgical products and procedures by surgeons and hospitals, (iii) development and acceptance of new products or product enhancements, (iv) clinical and statistical verification of the benefits achieved via the use of our products, (v) our ability to adequately manage inventory, (vi) our ability to successfully optimize our commercial channels, (vii) our success in defending legal proceedings brought against us, and (viii) the other risks and uncertainties more fully described in our periodic filings with the Securities and Exchange Commission (the “SEC”). As a result of these various risks, our actual outcomes and results may differ materially from those expressed in these forward-looking statements.
3
Further, any forward-looking statement speaks only as of the date hereof, unless it is specifically otherwise stated to be made as of a different date. The Company undertakes no obligation to update, and expressly disclaims any duty to update, its forward-looking statements, whether as a result of circumstances or events that arise after the date hereof, new information, or otherwise, except as required by law.
The Company is unable to provide expectations of GAAP net income (loss), the closest comparable GAAP measures to adjusted EBITDA (which is a non-GAAP measure), on a forward-looking basis because the Company is unable to predict, without unreasonable efforts, the ultimate outcome of matters (including acquisition-related expenses, accounting fair value adjustments, and other such items) that will determine the quantitative amount of the items excluded in calculating adjusted EBITDA, which items are further described in the reconciliation tables and related descriptions below. These items are uncertain, depend on various factors, and could be material to the Company’s results computed in accordance with GAAP.
Company Contact
Investors and Media
Julie Dewey, IRC
Chief Investor Relations & Communications Officer
JulieDewey@Orthofix.com
+1 209.613.6945
4
ORTHOFIX MEDICAL INC.
Condensed Consolidated Statements of Operations
Three Months Ended
Six Months Ended
June 30,
June 30,
(Unaudited, U.S. Dollars, in thousands, except share and per share data)
2026
2025
2026
2025
Net sales
$
210,933
$
203,121
$
407,641
$
396,767
Cost of sales
61,226
63,588
118,388
135,615
Gross profit
149,707
139,533
289,253
261,152
Sales, general, and administrative
138,030
136,493
272,941
269,474
Research and development
15,944
15,934
31,264
35,700
Acquisition-related amortization, impairment, and remeasurement
3,867
3,109
7,618
20,854
Operating loss
(8,134
)
(16,003
)
(22,570
)
(64,876
)
Interest expense, net
(6,085
)
(3,950
)
(11,749
)
(8,456
)
Other income (expense), net
(778
)
5,730
(1,512
)
6,976
Loss before income taxes
(14,997
)
(14,223
)
(35,831
)
(66,356
)
Income tax (expense) benefit
(801
)
142
(875
)
(819
)
Net loss
$
(15,798
)
$
(14,081
)
$
(36,706
)
$
(67,175
)
Net loss per common share:
Basic
$
(0.39
)
$
(0.36
)
$
(0.90
)
$
(1.71
)
Diluted
(0.39
)
(0.36
)
(0.90
)
(1.71
)
Weighted average number of common shares (in millions):
Basic
40.9
39.5
40.7
39.3
Diluted
40.9
39.5
40.7
39.3
5
ORTHOFIX MEDICAL INC.
Condensed Consolidated Balance Sheets
(U.S. Dollars, in thousands, except par value data)
June 30,
2026
December 31,
2025
(Unaudited)
Assets
Current assets
Cash and cash equivalents
$
103,810
$
82,025
Restricted Cash
595
3,090
Accounts receivable, net of allowances of $10,563 and $8,308, respectively
135,818
135,746
Inventories
184,475
172,319
Prepaid expenses and other current assets
21,434
23,667
Total current assets
446,132
416,847
Property, plant, and equipment, net
130,757
129,399
Intangible assets, net
65,972
72,765
Goodwill
194,934
194,934
Other long-term assets
35,225
36,702
Total assets
$
873,020
$
850,647
Liabilities and shareholders’ equity
Current liabilities
Accounts payable
$
63,531
$
58,392
Current portion of finance lease liability
125
837
Other current liabilities
93,354
111,253
Total current liabilities
157,010
170,482
Long-term debt
221,591
157,391
Long-term portion of finance lease liability
12,903
17,060
Other long-term liabilities
52,336
55,677
Total liabilities
443,840
400,610
Contingencies
Shareholders’ equity
Common shares $0.10 par value; 100,000 shares authorized;
40,730 and 39,834 issued and outstanding as of June 30,
2026, and December 31, 2025, respectively
4,073
3,983
Additional paid-in capital
830,423
813,769
Accumulated deficit
(405,039
)
(368,333
)
Accumulated other comprehensive income (loss)
(277
)
618
Total shareholders’ equity
429,180
450,037
Total liabilities and shareholders’ equity
$
873,020
$
850,647
6
ORTHOFIX MEDICAL INC.
Non-GAAP Financial Measures
The following tables present reconciliations of various financial measures calculated in accordance with U.S. generally accepted accounting principles (“GAAP”), to various non-GAAP financial measures that exclude (or in the case of free cash flow, include) items specified in the tables. The GAAP measures shown in the tables below represent the most comparable GAAP measure to the applicable non-GAAP measure(s) shown in the table. For further information regarding the nature of these exclusions, why the Company believes that these non-GAAP financial measures provide useful information to investors, the specific manner in which management uses these measures, and some of the limitations associated with the use of these measures, please refer to the Company’s current report on Form 8-K regarding this press release filed today with the SEC available on the SEC’s website at www.sec.gov and on the “Investors” page of the Company’s website at www.orthofix.com.
The Company’s non-GAAP financial measures for the three and six months ended June 30, 2026, and 2025, have been adjusted to eliminate the financial effects of the Company’s decision to discontinue its M6 product lines.
Adjusted Gross Profit and Adjusted Gross Margin
Three Months Ended June 30,
Six Months Ended June 30,
(Unaudited, U.S. Dollars, in thousands)
2026
2025
2026
2025
Gross profit
$
149,707
$
139,533
$
289,253
$
261,152
Share-based compensation and long-term incentive plan expense
462
467
793
929
SeaSpine merger-related costs
225
4,341
(303
)
4,941
Restructuring costs and impairments related to M6 product lines
217
2,791
(220
)
13,710
Gross profit attributable to M6 product line operations
(53
)
(1,639
)
(295
)
(2,545
)
Strategic investments
—
43
—
56
Amortization/depreciation of acquired long-lived assets
108
351
285
664
Employee transition costs
593
—
593
—
Adjusted gross profit
$
151,259
$
145,887
$
290,106
$
278,907
Adjusted gross margin as a percentage of reported net sales
71.7
%
71.8
%
71.2
%
70.3
%
Adjusted gross margin as a percentage of pro forma net sales
71.7
%
72.7
%
71.2
%
71.5
%
7
Adjusted EBITDA
Three Months Ended June 30,
Six Months Ended June 30,
(Unaudited, U.S. Dollars, in thousands)
2026
2025
2026
2025
Net loss
$
(15,798
)
$
(14,081
)
$
(36,706
)
$
(67,175
)
Income tax expense (benefit)
801
(141
)
875
819
Interest expense, net
6,085
3,950
11,749
8,456
Depreciation and amortization
13,273
16,871
26,766
51,302
Share-based compensation and long-term incentive plan expense
7,945
7,824
14,583
14,293
Foreign exchange impact
746
(2,751
)
1,646
(3,795
)
SeaSpine merger-related costs
572
4,886
503
6,017
Restructuring costs and impairments related to M6 product lines
217
3,651
(220
)
13,531
Operating losses attributable to M6 product lines
868
(297
)
1,558
1,949
Strategic investments
634
353
1,584
3,867
Acquisition-related fair value adjustments
868
(763
)
1,618
(1,373
)
Interest and loss on investments
—
(31
)
(16
)
(31
)
Litigation and investigation costs
2,185
4,029
5,101
7,071
Employee retention credit
—
(2,854
)
(951
)
(2,854
)
Employee transition costs
1,742
—
1,742
—
Adjusted EBITDA
$
20,138
$
20,646
$
29,832
$
32,077
Adjusted EBITDA as a percentage of reported net sales
9.5
%
10.2
%
7.3
%
8.1
%
Adjusted EBITDA as a percentage of pro forma net sales
9.6
%
10.3
%
7.3
%
8.2
%
Adjusted Net Income (Loss)
Three Months Ended June 30,
Six Months Ended June 30,
(Unaudited, U.S. Dollars, in thousands)
2026
2025
2026
2025
Net loss
$
(15,798
)
$
(14,081
)
$
(36,706
)
$
(67,175
)
Share-based compensation and long-term incentive plan expense
7,945
7,824
14,583
14,293
Foreign exchange impact
746
(2,751
)
1,646
(3,795
)
SeaSpine merger-related costs
574
7,786
591
9,260
Restructuring costs and impairments related to M6 product lines
176
4,257
(448
)
34,461
Operating losses attributable to M6 product lines
1,006
(766
)
1,922
1,922
Strategic investments
637
364
1,590
3,907
Acquisition-related fair value adjustments
868
(761
)
1,618
(1,371
)
Amortization/depreciation of acquired long-lived assets
3,107
4,221
6,285
8,853
Litigation and investigation costs
2,185
4,029
5,101
7,071
Interest and loss on investments
—
(31
)
(16
)
(31
)
Employee retention credit
—
(3,616
)
(1,135
)
(3,616
)
Employee transition costs
1,742
—
1,742
—
Long-term income tax rate adjustment
(316
)
(1,915
)
1,534
(468
)
Adjusted net income (loss)
$
2,872
$
4,560
$
(1,693
)
$
3,311
8
Cash Flow and Free Cash Flow
Six Months Ended June 30,
(Unaudited, U.S. Dollars, in thousands)
2026
2025
Net cash used in operating activities
$
(23,834
)
$
(6,752
)
Net cash used in investing activities
(23,162
)
(13,833
)
Net cash provided by financing activities
66,421
1,989
Effect of exchange rate changes on cash
(135
)
1,547
Net change in cash and cash equivalents
$
19,290
$
(17,049
)
Six Months Ended June 30,
(Unaudited, U.S. Dollars, in thousands)
2026
2025
Net cash used in operating activities
$
(23,834
)
$
(6,752
)
Capital expenditures
(23,308
)
(13,845
)
Free cash flow
$
(47,142
)
$
(20,597
)
Reconciliation of Non-GAAP Financial Measures to Reported Operating Expenses
Three Months Ended June 30,
Six Months Ended June 30,
(Unaudited, U.S. Dollars, in thousands)
2026
2025
2026
2025
Sales, general, and administrative
$
138,030
$
136,493
$
272,941
$
269,474
Reconciling items impacting sales, general, and administrative:
SeaSpine merger-related costs
(270
)
(3,384
)
(756
)
(4,142
)
Restructuring costs and impairments related to M6 product lines
41
(1,393
)
228
(4,729
)
Sales, general, and administrative expense attributable to M6 product lines
(636
)
(243
)
(1,685
)
(2,631
)
Strategic investments
(633
)
(194
)
(1,581
)
(1,741
)
Amortization/depreciation of acquired long-lived assets
—
—
—
(60
)
Litigation and investigation costs
(2,185
)
(3,579
)
(5,101
)
(6,621
)
Employee transition costs
(1,148
)
—
(1,148
)
—
Sales, general, and administrative expense, as adjusted
$
133,199
$
127,700
$
262,898
$
249,550
As a percentage of reported net sales
63.1
%
62.9
%
64.5
%
62.9
%
As a percentage of pro forma net sales
63.2
%
63.6
%
64.5
%
64.0
%
Three Months Ended June 30,
Six Months Ended June 30,
(Unaudited, U.S. Dollars, in thousands)
2026
2025
2026
2025
Research and development expense, as reported
$
15,944
$
15,934
$
31,264
$
35,700
Reconciling items impacting research and development:
SeaSpine merger-related costs
(80
)
(62
)
(139
)
(178
)
Restructuring costs and impairments related to M6 product lines
—
(77
)
—
(1,929
)
Research and development expense attributable to M6 product lines
(413
)
(602
)
(659
)
(1,794
)
Strategic investments
(3
)
(127
)
(8
)
(2,110
)
Litigation and investigation costs
—
(450
)
—
(450
)
Research and development expense, as adjusted
$
15,448
$
14,616
$
30,458
$
29,239
As a percentage of reported net sales
7.3
%
7.2
%
7.5
%
7.4
%
As a percentage of pro forma net sales
7.3
%
7.3
%
7.5
%
7.5
%
9
Reconciliations of Non-GAAP Financial Measures to Reported Non-Operating (Income) Expense
Three Months Ended June 30,
Six Months Ended June 30,
(Unaudited, U.S. Dollars, in thousands)
2026
2025
2026
2025
Non-operating (income) expense
$
6,863
$
(1,780
)
$
13,261
$
1,480
Reconciling items impacting non-operating expense:
Restructuring costs and impairments related to M6 product lines
—
3
—
3
Losses (income) attributable to M6 product lines
(12
)
(26
)
126
(41
)
Foreign exchange impact
(746
)
2,751
(1,646
)
3,795
Interest and loss on investments
—
31
16
31
Employee retention credit
—
3,617
1,135
3,617
Non-operating expense, as adjusted
$
6,105
$
4,596
$
12,892
$
8,885
As a percentage of reported net sales
2.9
%
2.3
%
3.2
%
2.2
%
As a percentage of pro forma net sales
2.9
%
2.3
%
3.2
%
2.3
%
Source
Orthofix Medical Inc.
###
10
EX-99.2
EX-99.2
Filename: ofix-ex99_2.htm · Sequence: 3
Drive Profitable Growth Investor Presentation August 2026
2 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, relating to our business and financial outlook, which are based on our current beliefs, assumptions, intentions, plans, expectations, estimates, forecasts and projections. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “projects,” “intends,” “predicts,” “potential,” “positioned,” “deliver,” or “continue” or other comparable terminology. Forward-looking statements in this presentation include the Company's expectations regarding net sales, adjusted EBITDA, and free cash flow for the year ended December 31, 2026. Forward-looking statements are not guarantees of our future performance, are based on our current expectations and assumptions regarding our business, the economy and other future conditions, and are subject to risks, uncertainties and changes in circumstances that are difficult to predict, including the risks described in Part I, Item 1A under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025 and in Part II, Item 1A under the heading Risk Factors in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2026. Factors that could cause future results to differ from those expressed by forward-looking statements include, but are not limited to, (i) our ability to maintain operations to support our customers and patients in the near-term and to capitalize on future growth opportunities, (ii) risks associated with acceptance of surgical products and procedures by surgeons and hospitals, (iii) development and acceptance of new products or product enhancements, (iv) clinical and statistical verification of the benefits achieved via the use of our products, (v) our ability to adequately manage inventory, (vi) our ability to successfully optimize our commercial channels, (vii) our success in defending legal proceedings brought against us, (viii) the impact of changes by third-party payers to reimbursement rates for our products, and (ix) the other risks and uncertainties more fully described in our periodic filings with the Securities and Exchange Commission (the “SEC”). As a result of these various risks, our actual outcomes and results may differ materially from those expressed in these forward-looking statements. Further, any forward-looking statement speaks only as of the date hereof, unless it is specifically otherwise stated to be made as of a different date. The Company undertakes no obligation to update, and expressly disclaims any duty to update, its forward-looking statements, whether as a result of circumstances or events that arise after the date hereof, new information, or otherwise, except as required by law. The Company is unable to provide expectations of GAAP net income (loss), the closest comparable GAAP measures to adjusted EBITDA (which is a non-GAAP measure), on a forward-looking basis because the Company is unable to predict, without unreasonable efforts, the ultimate outcome of matters (including acquisition-related expenses, accounting fair value adjustments, and other such items) that will determine the quantitative amount of the items excluded in calculating adjusted EBITDA, which items are further described in the reconciliation tables and related descriptions in this presentation. These items are uncertain, depend on various factors, and could be material to the Company’s results computed in accordance with GAAP.
3 Non-GAAP Financial Measures Management uses certain non-GAAP financial measures in this presentation, most specifically Adjusted EBITDA, Adjusted Gross Margin, Adjusted Net Income and Free Cash Flow, as a supplement to GAAP financial measures to further evaluate the Company’s operating performance period over period, analyze the underlying business trends, assess performance relative to competitors and establish operational objectives. Management believes it is important to provide investors with the same non-GAAP metrics it uses to evaluate the performance and underlying trends of the Company’s business operations to facilitate comparisons to its historical operating results and evaluate the effectiveness of its operating strategies. Disclosure of these non-GAAP financial measures also facilitates comparisons of the Company’s underlying operating performance with other companies in the industry that also supplement their GAAP results with non-GAAP financial measures. Unless noted otherwise, full-year guidance is based on the current foreign currency exchange rates and does not take into account any additional potential exchange rate changes that may occur this year. These non-GAAP financial measures should not be considered in isolation from, or as replacements for, the most directly comparable GAAP financial measures, as these measures are not prepared in accordance with U.S. GAAP. Reconciliations between GAAP and non‐GAAP results are included at the end of this presentation and represent the most comparable GAAP measure(s) to the applicable non-GAAP measure(s) shown in the table. For further information regarding the nature of these exclusions, why the Company believes that these non-GAAP financial measures provide useful information to investors, the specific manner in which management uses these measures, and some of the limitations associated with the use of these measures, please refer to the Company’s current report on Form 8-K regarding its second quarter 2026 press release filed on August 5, 2026 with the SEC and available on the SEC's website at www.sec.gov and on the “Investors” page of the Company’s website at www.orthofix.com. The Company’s non-GAAP financial measures for the three and six months ended June 30, 2026, and 2025, have been adjusted to eliminate the financial effects of the Company’s decision to discontinue its M6 product lines. Amounts may not add due to rounding.
4 Executive Summary The Orthofix Investment Thesis 01 ~$829M TTM pro forma net sales: ~$16B addressable market; only musculoskeletal pure-play spanning spine, bone stimulation, biologics, limb reconstruction, and zero-radiation navigation 02 Improving commercial momentum: Strengthening U.S. distributor network and enhancing sales force productivity; greater visibility and consistency across key growth platforms 03 Proprietary technology moat: 7D FLASH is the world’s only zero-radiation spine navigation system (97.8% radiation reduction, 94% faster than intraoperative CT-based systems) 04 Margin discipline converging on profitability: ~72% TTM pro forma adjusted gross margin; 2026 guidance of $845M–$855M net sales and $95M–$98M adjusted EBITDA 05 Driving toward positive free cash flow: FCF improved from –$108M (2023) to near breakeven (2025), with continued progress driven by EBITDA growth and working capital efficiency ~$829M TTM Pro Forma Net Sales ~$16B Addressable Market 71.5% TTM Pro Forma Adj. Gross Margin Double-Digit Global Net Sales Growth in Limb Reconstruction and Spine Fixation (Q2 2026) TTM as of 6/30/2026. Excludes discontinued M6 lines. 2026 guidance as of 8/5/2026; presented on a pro forma, constant currency basis. Double-digit global net sales growth in Q2 2026 is on a YoY constant currency basis.
Transforming a ~$16B Market Opportunity into Profitable, Scalable Growth Orthofix At-A-Glance 5
Differentiated Musculoskeletal Platform Driving Toward Profitability NASDAQ: OFIX | Musculoskeletal Pure-Play | ~$16B TAM ~$829M TTM Pro Forma Net Sales ~$84M TTM Pro Forma Adj. EBITDA ~71.5% TTM Pro Forma Adj. Gross Margin $477M Market Capitalization Platform Advantage Three growth segments across musculoskeletal care: Spinal Implants, Biologics and Enabling Technologies Therapeutic Solutions Limb Reconstruction Portfolio breadth + only zero-radiation navigation system 7D FLASH™ Commercial Momentum Cross-sell leverage over 3 segments Focused commercial strategy via established distributors Segment-level traction Double-digit YoY improvement in global Spine Fixation and Limb Reconstruction Favorable industry tailwinds Aging population and evolving standards of care Financial Path 2026E: $845M–$855M net sales, $95M–$98M adj. EBITDA FCF progression underway: Cash usage –$108M (2023) TTM as of 6/30/2026. Excludes discontinued M6 lines. Market cap as of 7/31/2026. 2026 guidance as of 8/5/2026; presented on a pro forma, constant currency basis. Margin discipline and commercial focus converging on clear path to positive free cash flow TTM Net Sales Near breakeven FCF (2025) Progressing toward Positive FCF Post-merger: focused model, margin discipline (2024)
Clear Strategic Pathway with Multiple Drivers for Value Creation Key Focus Areas & Priorities Innovate to drive growth and strengthen leading positions Future upside from high-impact new product launches Leverage technologies and sales channels across complementary product segments Create new entry points, cross-selling opportunities and stickier surgeon relationships Rigorous allocation of resources to high-return opportunities Focus on process and gross margin improvements Improved financial strength with profitability and term loan flexibility Invest in Differentiated Technologies Where Orthofix Can Win and Lead Capitalize on Multiple Access Points to Grow at Above-Market Rates Operate with Discipline for Margin Expansion Build Financial Resilience and Unlock Strong, Consistent Cash Flow Strategy is Driving Long-Term Profitable Growth
Platform Advantage and Commercial Momentum Innovation and Market Leadership Across the Musculoskeletal Continuum 8
Two Growth Pillars – One Integrated Performance Engine Therapeutic Solutions (formerly Bone Growth Therapies) Combined portfolio with Biologics to target trauma surgeons Combine with select Limb Reconstruction products Expanding domestically through legacy SeaSpine distribution and U.S. Limb Reconstruction channels Biologics Expand cross-selling with U.S. Limb Reconstruction channels Spine Maximize procedural selling opportunity with Biologics, Limb Reconstruction, and Enabling Technologies Limb Reconstruction Maximize procedural selling opportunity with Biologics, Limb Reconstruction, and Enabling Technologies Enabling Technologies (ET) Focus on 7D equipment placements to drive recurring implant usage Leverage investment and drive synergistic approach across the portfolio
Comprehensive Portfolio of Transformative Solutions Improved Clinical Efficiencies and Economic Value with 7D Enabling Technology Established Distribution Channels and Extensive Global Commercial Reach Large Addressable Markets with High- Growth Opportunities Across Continuum of Care World-Class, Visionary Leadership Team with Deep Sector Expertise Expanding and Deepening Customer Relationships 10 Capitalizing on Clear Competitive Advantages
Total Addressable Market 2026 – 2028 Expected Market Growth Rate Spinal Implants ~$10.1B ~3% – 4% Therapeutic Solutions (formerly Bone Growth Therapies) ~$0.6B ~2% – 3% Biologics ~$2.1B ~2% – 3% Limb Reconstruction (formerly Orthopedics) ~$2.6B ~5% – 6% Enabling Technologies ~$0.4B ~10% – 12% Addressable Markets ~$16B within Full Continuum of Care Well-Positioned for Favorable Macro Trends Aging Population Digital Healthcare AI and Machine Learning Enabling Technology Advancement Evolving Standards of Care
Capability Orthofix ~$829M TTM Medtronic ~$5.3B Cranial & Spine Globus / NuVasive ~$2.5B Spine Alphatec ~$764M FY2025 Stryker ~$10.9B Ortho Enovis ~$2.2B FY2025 Spinal Implants ~$10.1B TAM Growing Share Global Spine Fixation +10% CC; deformity/cervical focus; Top 30 U.S. distributors ~80% of spine fixation sales #1 Global ~$3.2B spine rev; AiBLE ecosystem; Mazor X robotics #2 Global ~$2.5B combined; ExcelsiusGPS robotics; MIS leader Fastest Growing $764M FY25 +25%; lateral/deformity focus Divested Implants Sold spine implants to VB Spine; retained Mako Spine tech No Dedicated Spine Joint reconstruction focus; no spine implant business Therapeutic Solutions (Bone Growth Stimulation) ~$0.6B TAM #1 Market Position 1.4M+ devices prescribed; most indications; PEMF since 1986 No Presence Does not compete in this segment No Presence Does not compete in this segment No Presence Does not compete in this segment No Presence Does not compete in this segment P&R Segment Bone stim in Prevention & Recovery; mid-high single-digit growth Biologics ~$2.1B TAM #2 Cellular Allograft Trinity Elite; #3 DBM; new OsteoCove synthetic launch Market Leader Infuse BMP dominates growth factors; broad portfolio Selective Focus Integrated biologics with spine implant pull-through Attachment Only 38% biologics attachment rate; not standalone offering Limited Presence Select partnerships; not a core focus area No Presence Does not compete in this segment Limb Reconstruction ~$2.6B TAM Proven Leader TL-HEX, Fitbone, TrueLok Elevate; 4 pillars across deformity, limb lengthening, fracture, preservation No Presence Does not compete in this segment Selective Focus Market leadership in limb lengthening products No Presence Does not compete in this segment Selective Focus Strong in trauma and extremities, external fixation; ~$3.95B Trauma & Extremities Revenue Limited Presence Extremities double-digit growth; external fixation Enabling Technologies ~$0.4B TAM Only Zero-Radiation 7D FLASH machine-vision IGS; 97.8% radiation reduction¹; 94% faster1 AiBLE Ecosystem Mazor X Stealth robotics; O-arm imaging; StealthStation Nav ExcelsiusGPS Robotic-assisted nav; strong installed base growth EOS Insight Imaging/informatics platform; 7% global installed base growth Mako Robotics Mako robotic-assisted surgery for joints; not spine-focused ARVIS AR Navigation Augmented reality for joints; not spine-focused Cross-Sell / Portfolio Integration Unique Advantage 7D drives spine implant pull-through; biologics + BGS + limb recon cross-sell across 3 segments Broad But Diffuse Massive conglomerate; spine is one of many divisions; limited cross-sell focus Spine-Focused Deep spine-only integration; implants + robotics; limited adjacent categories Spine-Only Ecosystem Deep spine integration via EOS; narrow but focused Joint-Focused Mako robotics centered on joints; spine divested Joint-Focused Recon + P&R integration; no spine cross-sell leverage Only Musculoskeletal Pure-Play Spanning Spine + Bone Stimulation + Limb Reconstruction + Biologics + Zero-Radiation Navigation IGS = Image-Guided Surgery Nav = Navigation PEMF = Pulsed ElectroMagnetic Field DBM = Demineralized Bone Matrix MIS = Minimally-Invasive Surgery 1 97.8% reduction in intraoperative radiation during adult degenerative spinal fusions; 94% faster than intraoperative CT-based systems. Sources: Company filings; iData Research; SmartTrak; ORTHOWORLD Spine Market Report (Apr 2026); SPINEMarketGroup. Revenue figures reflect most recent available reporting periods. TAM = 2025 Total Addressable Market estimates. Solely for convenience, our trademarks and trade names in this presentation are referred to without the ® and ™ symbols, but such references should not be construed as an indicator that we will not assert, to the fullest extent under applicable law, our rights thereto.. Competitive Positioning Across ~$16B Addressable Market Differentiated portfolio spanning spine, biologics, bone stimulation, limb reconstruction, and enabling technologies
Spinal Implants Driving Innovation and Taking Share Select Product Examples Market Overview Sales channel optimization for growth, cross-selling, and OPEX leverage Pull through from lateral, cervical, and 7D earnouts Best-in-class implants to improve patient outcomes Interbody Cervical Thoracolumbar Fixation NorthStar™ OCT Mariner™ Deformity WaveForm™ (3D Printed) Explorer™ (Expandable) Reef™ (IBDs) ~$10.1B TAM1 Thoracolumbar Fixation Significant share capture opportunity ~3% – 4% market growth rate (2026 – 2028) Interbody Significant share capture opportunity ~3% – 4% market growth rate (2026 – 2028) Cervical Significant share capture opportunity ~3% – 4% market growth rate (2026 – 2028) OFIX Growth Drivers Shoreline™ ACS Wayfinder™ Phoenix™ MIS Meridian™ 1 2025 U.S. Total Addressable Market. Sources: iData Research Inc.; U.S. Market Report for Spinal Implants and VCF; SmartTrak US Spine Market Report; Internal OFIX estimates Supporting Clinicians and Patients through Continuous Innovation of Procedure Solutions Comprehensive, best-in-class spinal implants designed to work in concert with 7D Navigation and biologics to support improved clinical outcomes Focus on deformity correction Proven expertise in cervical fixation and material science
AccelStim™ SpinalStim™ PhysioStim™ CervicalStim™ Complex Foot & Ankle Reconstruction and Fracture Management Therapeutic Solutions (formerly Bone Growth Therapies) Maximizing #1 Market Position Exceeding Market Growth Rate through Innovation and Expansion Safe, effective, non-surgical solution to promote bone healing in fracture management and high-risk spine fusions Most comprehensive portfolio of bone growth stimulation devices Most indications on the market to aid in bone healing solutions Select Product Examples #1 prescribed bone growth stimulator First to offer free recycling for patients to properly dispose of their devices PEMF technology approved since 1986 Prescribed devices 1,400,000+ Spine Fusion Therapy Market Overview Procedural selling focused on cross-selling with limb reconstruction and spine New market channels with established sales representatives AccelStim growth to penetrate Fracture market ~$0.6B TAM1 Spine #1 Position ~2% – 3% market growth rate (2026 – 2028) Fracture #2 Position ~2% – 3% market growth rate (2026 – 2028) OFIX Growth Drivers Note: PEMF = Pulsed Electromagnetic Field. 1 2025 U.S. Total Addressable Market.
Biologics Renewed Focus on Advancing our Portfolio Strategically Introducing New Products to Capture Additional Market Share Full spectrum of biologic solutions to enhance fusion process and promote bone repair and growth Provide industry leading, best-in-class products in each of the major bone grafting categories Select Product Examples Demineralized Bone Matrix OsteoStrand™ Plus Synthetic Procedure-Specific OsteoCove™ OsteoBallast™ Market Overview Opportunities in current portfolio and spine Product innovation with clinical research Disc regeneration, channel expansion options ~$2.1B TAM1 Synthetic Significant share capture opportunity ~2% – 3% market growth rate (2026 – 2028) Cellular Allograft #2 Position ~2% – 3% market growth rate (2026 – 2028) OFIX Growth Drivers Trinity Elite™ Cellular Allograft Growth Factors, Other Do not participate 1 2025 Global Total Addressable Market, including Growth Factors. Demineralized Bone Matrix #3 Position ~2% – 3% market growth rate (2026 – 2028)
Limb Reconstruction (formerly Orthopedics) Leading the Growth Unique portfolio of limb reconstruction solutions, addressing the most challenging orthopedic conditions in patients of all ages Proven Leader with Room to Grow through Innovation of Hardware and Digital Solutions Enabling Technologies - OrthoNext™ 1 2025 Global Total Addressable Market. Sources: iData Research Inc. 2021; Berkyl Global Market Analysis 2020; SmartTrak 2024; Orthoworld Industry Annual Report, 2024; Acuity MD Data, 2025; Grandview Research, 2023; US Bone Transport Procedure Volume Analysis, 2015; CDC National Diabetes Statistics Report, 2022; Brownrigg, et al. Evidence-based Management of PAD & the Diabetic Foot, 2013. 45(6), 673-681; Behroozian et al. Art Thro Vasc Biology, 2020. 40(3). Select Product Examples Galaxy Gemini™ Complex Fracture Management Fitbone™ Limb Lengthening TL-HEX™ Extremity Deformity Correction TrueLok™ Elevate Market Overview Accelerating U.S. growth and expanding position Global sales channel optimization through execution and focused distribution New, unique product platforms with next-gen digital capabilities OFIX Growth Drivers ~$2.6B TAM1 Complex Fracture Management ~3% – 4% market growth rate (2026 – 2028) Limb Lengthening ~9% market growth rate (2026 – 2028) Limb Preservation ~5% market growth rate (2026-2028) Extremity Deformity Correction ~5% – 6% market growth rate (2026 – 2028) Limb Preservation *Significant share capture opportunity across all 4 pillars
Complex Fracture Management Limb Lengthening Limb Preservation Extremity Deformity Correction LIMB RECON Industry leader with a unique portfolio of limb reconstruction solutions, addressing the most challenging conditions in patients of all ages ENABLING TECHNOLOGIES ENABLING TECHNOLOGIES 17 Four Focus Areas – Limb Reconstruction
Tibial cortex transverse transport: Historical evolution, clinical applications, and future directions-Schroeder, et al. Foot & Ankle Surgery: Techniques, Reports & Cases, Vol 5, Issue 3, 100513 © 2025 The Author(s). Published by Elsevier Inc. on behalf of American College of Foot and Ankle Surgeons. Orthofix has not made any changes to the image above and use of this image is in no way an endorsement of the Journal or Authors Supporting surgeon-led correction of complex bony and soft-tissue defects Innovation Spotlight: TrueLok Elevate System The TrueLok Elevate device has not been approved by the FDA for treatment of ulcers and the safety and effectiveness of the TrueLok Elevate for treatment of ulcers has not been established. Minimally invasive, quick application, reproducible technique Versatile design Sterile, ready to use components 18
Patient Case Study – What Limb Reconstruction Means for Justin Background Justin, a 6'9" newlywed, suffered from severe genu valgum (knock‑knees) that caused chronic pain and limited mobility. As he prepared for fatherhood, he feared becoming disabled without corrective surgery. OFIX Unique Solution Under the care of Dr. William Terrell, the team elected to treat both legs simultaneously TL-HEX External Fixation System used on tibias for gradual, precise realignment Life is much better than it was before the surgery. I am almost back to 100% to what I should have been before. – Justin Click here for Justin’s story Before After Result / Outcomes Successful Orthofix-supported deformity correction procedure Restoration of patient mobility Strengthened customer loyalty
Enabling Technologies Empowering Excellence with Real-Time, Integrated Smart Technologies Seizing Significant Opportunity to Leverage Technology and Expand Share in Spine FLASH™ Navigation with 7D Technology, world’s leading zero-radiation1 spine image-guided surgery system Allows surgeons to perform fast, cost-effective, and radiation-free surgery Pacesetting leader for open spine procedures and deformity correction Open and Percutaneous Spine Modules2 Market Overview OFIX Growth Drivers 7D deployments through commercial financing structures and product pull through Product integration with spinal implant portfolio Digital ecosystem expansion (pre-op planning, intra-op navigation, and post-op care) ~$0.4B TAM3 Spinal Navigation Significant share capture opportunity ~10% – 12% market growth rate (2026 – 2028) FLASH Navigation with 7D Technology Product Example Significant Focus in Spine 1 Based on a pre-op CT or MRI, no intra-op radiation is required using Open Spine Module, eliminating exposure to surgeons, staff, and patients. Intra-op radiation is required for Percutaneous Module. 2 ~40% of U.S. installed base has cranial module. 3 Global Total Addressable Market.
Innovation Spotlight – FLASH Navigation with 7D Technology Technology Differentiates Portfolio While Enabling Service to Full Continuum of Surgical Care 97.8% reduction in intraoperative radiation during adult degenerative spinal fusions1* Revolutionizing Spinal Navigation Created Meaningful Advantages with FLASH Navigation with 7D Technology 61% reduction in intraoperative radiation during complex pediatric deformity spinal fusions2* 98.8% accurate with no pedicle breach1* 94% faster than intraoperative CT-based systems3* 63.6 minutes saved per case4* Flexible Selling Models to Meet Unique Needs of Facility First and only image-guided surgery (IGS) system featuring 7D’s machine-vision technology, allowing surgeons to perform fast, cost-effective, radiation-free IGS Capital Purchase Lease “Earnout” through purchase of spine hardware and/or biologics; creating recurring revenue stream and stronger customer relationships Voyager Earnout Program *Not an Orthofix sponsored clinical study. 1 Malham GM, Munday NR. Comparison of novel machine vision spinal image guidance system with existing 3D fluoroscopy-based navigation system: a randomized prospective study. Spine J. 2022 Apr;22(4):561-569. doi: 10.1016/j.spinee.2021.10.002. Epub 2021 Oct 16. PMID: 34666179. 2 Comstock, Christopher P. MD; Wait, Eric MD. Novel Machine Vision Image Guidance System Significantly Reduces Procedural Time and Radiation Exposure Compared With 2-dimensional Fluoroscopy-based Guidance in Pediatric Deformity Surgery. Journal of Pediatric Orthopaedics ():10.1097/BPO.0000000000002377, March 6, 2023. | DOI: 10.1097/ BPO.0000000000002377 3 Jakubovic R, Guha D, Gupta S, et al. High speed, high density intraoperative 3D optical topographical imaging with efficient registration to MRI and CT for craniospinal surgical navigation. Sci Rep. 2018;8:14894. doi:10.1038/s41598-018-32424-z. 4 Lim KBL, Yeo ISX, Ng SWL, Pan WJ, Lee NKL. The machine-vision image guided surgery system reduces fluoroscopy time, ionizing radiation and intraoperative blood loss in posterior spinal fusion for scoliosis. Eur Spine J. 2023 Jul 10. doi: 10.1007/s00586-023-07848-5. Epub ahead of print. PMID: 37428212.Stewart G. Visible Light Navigation in Spine Surgery: My Experience With My First 150 Cases. Int J Spine Surg. 2022 Oct;16(S2):S28-S36. doi: 10.14444/8274. Epub 2022 Aug 5. PMID: 36456113; PMCID: PMC9808787.
Q2 2026 Results Executing Through Transition while Gaining Visibility and Commercial Momentum 22
Q2 2026 Results Summary Q2 Total Net Sales: $210.9M 5% YoY pro forma, constant currency growth Q2 Non-GAAP Adjusted EBITDA: $20.1M 10% of pro forma net sales vs $20.6M in Q2 2025; 10% of pro forma net sales Q2 Non-GAAP Adjusted Gross Margin: 71.7% vs 72.7% of pro forma net sales in Q2 2025 Q2 Non-GAAP SG&A Expense: $133.2M 63% of pro forma net sales vs $127.7M in Q2 2025; 64% of pro forma net sales Q2 Non-GAAP R&D Expense: $15.4M 7% of pro forma net sales vs $14.6M in Q2 2025; 7% of pro forma net sales Q2 2026 Total Net Sales $210.9M +5% YoY* Therapeutic Solutions $64.2M +2.5% Global Limb Reconstruction $37.7M +11.0%* Global Spinal Implants, Biologics, and Enabling Technologies $109. 0M +4.0%* International Spinal Implants, Biologics & Enabling Technologies $13.2M +64.1%* U.S. Spinal Implants, Biologics & Enabling Technologies $95.8M -1.0%* 88% 12% * YoY growth for Total Net Sales and Global and International Spinal Implants, Biologics, and Enabling Technologies is on a pro forma, constant currency basis compared to Q2 2025; U.S. Spinal Implants, Biologics and Enabling Technologies is on a pro forma basis compared to Q2 2025. YoY growth for Global Limb Reconstruction is on a constant currency basis compared to Q2 2025; Pro forma excludes discontinued M6 lines. 23
What We Said vs. What We Delivered Q2 2026: Executing through transition while gaining visibility and commercial momentum What We Said What We Delivered (Q2 2026) Net Sales Growth Committed to above-market growth with differentiated technology across ~$16B addressable market $210.9M Total Net Sales +5% YoY CC* Global Spine Fixation and Global Limb Reconstruction each delivered double-digit YoY CC growth Biologics stabilized and began to regain momentum Therapeutic Solutions grew 3% YoY despite Medicare reimbursement pressure during part of Q2 Margin Expansion Drive operational discipline for margin expansion with focus on gross margin improvement Rigorous allocation of resources to high-return opportunities Adj. EBITDA $20.1M 10% margin Resource alignment and cost actions underway support path toward improved profitability 71.7% Adj. Gross Margin Decreased from 72.7% in Q2 2025, reflecting unfavorable geographic mix Commercial Execution Optimize commercial channels for growth, cross-selling, operating leverage Distributor optimization efforts are improving consistency and focus across priority growth platforms Improving execution, gaining visibility, and driving consistency across priority growth platforms Global Spine Fixation net sales grew 10% YoY constant-currency, supported by distributor optimization efforts, new account expansion, and strong international demand, including timing of certain international distributor orders Global Limb Reconstruction net sales grew 11% YoY constant-currency, driven by strong international momentum and demand for differentiated product families 24 CC = Constant Currency YoY = Year-Over-Year * Net sales growth is on pro forma, constant currency basis and compared to same prior-year quarter . Commercial momentum, margin expansion, and greater visibility reinforce confidence in the path toward profitable growth
SPINAL SOLUTIONS Global Spine Fixation net sales +10%* New account expansion from U.S. commercial channel actions and timing of international distributor orders U.S. full commercial launch of VIRATA™ Spinal Fixation System expected in Q4’26 THERAPEUTIC SOLUTIONS Net sales +3% Underlying demand remained resilient despite reimbursement pressure that affected part of Q2 AccelStim™ Device continuing to drive fracture market growth Q2 2026 Business Segment Highlights 25 * Net sales growth for Global Spine Fixation and Global Limb Reconstruction is on a constant currency basis compared to same prior-year period. LIMB RECONSTRUCTION Global Limb Recon net sales +11%* Continued acceleration in the worldwide adoption of TRUELOK™ Elevate System and FITBONE™ Bone Transport System
Revising 2026 Net Sales and Adjusted EBITDA Guidance1 $845M – $855M Net Sales $95M – $98M Adj. EBITDA Net sales outlook assumes: Improving performance in priority growth areas, Medicare reimbursement restoration for bone growth stimulators, and One-time European distributor inventory purchases related to MDR transition, Partially offset by continued softness among smaller U.S. Spine distributors. Adj. EBITDA outlook assumes: Restored Medicare reimbursement, Cost optimization initiatives, and Continued operating discipline 1 As of 8/5/2026. Inclusion of this information in this presentation is not a confirmation or an update of, and should not be construed or otherwise assumed to reflect any confirmation or update of, that guidance by Orthofix leadership as of any date other than 8/5/2026. This guidance range is based on current foreign currency exchange rates and does not take into account any additional potential exchange rate changes that may occur this year. Prior guidance: Net Sales $838M–$848M Adj. EBITDA $90M–$93M
Financial Path Operational Excellence and Strategic Investment Converging on Strong Cash Generation 27
lp Looking Forward Accelerating Our Profitable Growth Engine Advancing Toward Our Goals for Consistent Above-Market Growth, Improved Profitability, and Positive Free Cash Flow Invest in Differentiated Technologies in Areas Where We Can Win and Lead Innovation Capitalize on Multiple Access Points to Grow Business at Sustained, Above-Market Rates Operate with Discipline for Margin Expansion Build Financial Resilience and Unlock Strong, Consistent Free Cash Flow 28
lp Investing in Differentiated Technologies Innovation Driving Growth and Strengthening Leading Market Positions Systematic Approach to Driving Innovation Rigorous allocation of resources to high-return opportunities Leverage technologies (7D, Biologics, Therapeutic Solutions) and sales channels (Spine, Limb Reconstruction) across complementary product segments Build enabling technology ecosystem using next-gen data, navigation and connected products for pre-, intra-, and post-op solutions Extensive expertise in intra-op surgical navigation creating accurate, efficient, and uninterrupted surgical workflow Continuum of musculoskeletal care integrated by Enabling Technologies Focal KPIs 1 Regular cadence of meaningful, high-impact new product launches 2 7% – 8% of sales invested in R&D 3 Sustained share capture in U.S. Spine & U.S. Limb Reconstruction
Operating with Discipline for Margin Expansion Well-Developed Infrastructure in Place to Further Scale and Support Growth Our Approach to Operational Excellence Building culture of excellence and accountability through implementation of the High Performance Management System (HPMS) Focusing on “Vital Few” initiatives to enhance operational excellence and drive business performance Key levers to drive higher margins and profitability across Company include: Rigorous allocation of resources to high-return opportunities Gross margin improvement Process improvements
Building Financial Resilience to Unlock Strong, Consistent Free Cash Flow Driving Toward Positive Free Cash Flow Drop-through to EBITDA from incremental revenue Working Capital improvements Efficient Working Capital Management Reduction in Inventory Days on Hand (DOH) and Instrument Efficiency Continued improvement in Days Sales Outstanding (DSO) Near Breakeven For FY 2025
Capital Allocation Priorities Investing to drive future profitable growth 1 Organic Growth Reinvest in business; enhance commercial channel; target capital spend levels at ~5% of sales 2 Inorganic Growth Tuck-in M&A to enhance growth & margin profile, support category leadership 3 Capital Structure Debt paydown and fortify balance sheet 4 Return of Capital In the absence of value-creating opportunities 32
World-Class Leadership Team with Extensive Med Tech Expertise – Focused on Results Combining Deep Institutional Knowledge with Fresh Perspectives and Proven Approaches Massimo Calafiore President and Chief Executive Officer Patrick Fisher President, Global Biologics and Limb Reconstruction Julie Andrews Chief Financial Officer Year Joined: 2024 Years in Industry: 20+ Year Joined: 2024 Years in Industry: 25+ Year Joined: 2024 Years in Industry: 25+ Aviva McPherron President, Global Operations & Quality Lucas Vitale Chief People & Business Operations Officer Beau Standish PhD, PEng Chief Enabling Technologies Officer Year Joined: 2023 Years in Industry: 15+ Year Joined: 2024 Years in Industry: 10+ Year Joined: 2024 Years in Industry: 20+ Andrés Cedrón Chief Legal Officer Jill Mason Chief Compliance & Risk Officer Julie Dewey Chief Investor Relations & Communications Officer Year Joined: 2024 Years in Industry: 15+ Year Joined: 2024 Years in Industry: 25+ Year Joined: 2015 Years in Industry: 15+ Jason Shallenberger President, Therapeutic Solutions Year Joined: 2005 Years in Industry: 20+
Investment Summary Catalysts and Upside Drivers 01 Near-term product catalysts: VIRATA Spinal Fixation System full commercial launch expected 4Q’26; above market U.S. limb reconstruction growth anticipated in 2H’26; OsteoCove synthetic graft gaining traction 02 Expanding technology ecosystem: 7D FLASH driving recurring implant pull-through via Voyager earnout program; digital platform spanning pre-op planning, intra-op navigation, and post-op care 03 Operational leverage ahead: distributor transitions largely complete; HPMS driving execution culture; gross margin improvement and process efficiency initiatives underway 04 Favorable macro tailwinds: aging population, evolving standards of care, AI/machine learning adoption, and enabling technology advancement across ~$16B market growing ~5% annually 05 Disciplined capital allocation: organic reinvestment at ~5% of sales; tuck-in M&A for category leadership; and ongoing cost optimization initiatives to improve profitability and cash generation
For additional information, please contact: Julie Dewey, IRC Chief IR & Communications Officer juliedewey@orthofix.com 209-613-6945 www.Orthofix.com NASDAQ: OFIX
Financial and Non-GAAP Reconciliation Tables Appendix 36
Q2 2026 GAAP to Adj. EBITDA Bridge Reported Adjustments to U.S. GAAP Adjusted Q2 2026 U.S. GAAP Results Foreign Exchange Impact Strategic Investments Impact of Discontinuation of M6 Product Lines SeaSpine Merger-Related costs Acquisition-Related Fair Value Adjustments Amortization / Depreciation of Acquired Long-Lived Assets Interest & Gain/(Loss) on Investments Litigation and Investigation Costs Employee Transition Costs Share-Based Compensation Expense and Long-Term Incentive Plan Expense Long-Term Tax Rate Adjustment Q2 2026 Non-GAAP Results Net Sales $ 210.9 $ - $ - $ (0.1) $ - $ - $ - $ - $ - $ - $ - $ 210.9 Cost of Sales 61.2 - (0.0) (0.2) (0.2) - (0.1) - - (0.6) (0.5) 59.6 Gross Profit 149.7 - 0.0 0.2 0.2 - 0.1 - - 0.6 0.5 151.3 Gross Margin 71.0% 71.7% Sales, General, & Administrative 138.0 - (0.6) (0.6) (0.3) - - - (2.2) (1.1) 133.2 Research & Development 15.9 - (0.0) (0.4) (0.0) - - - - - 15.4 Acquisition-Related Amortization & Remeasurement 3.9 - - - - (0.9) (3.0) - - - - Share-based Compensation Non-GAAP Adjustment - (7.5) (7.5) Operating Income (Loss) (8.1) - 0.6 1.2 0.5 0.9 3.1 - 2.2 1.7 7.9 10.1 -3.9% 4.8% Interest Income (Expense), Net (6.1) - - 0.0 - - - - - - - (6.1) Other Income (Expense), Net (0.8) 0.7 - 0.0 - - - - - - - (0.0) Income (Loss) Before Tax (15.0) 0.7 0.6 1.2 0.5 0.9 3.1 - 2.2 1.7 7.9 4.0 -7.1% 1.9% Income Tax Expense (Benefit) (0.8) - - - - - - - - - - (0.3) (1.1) Effective Tax Rate -5.3% 28.0% Net Income (Loss) $ (15.8) $ 0.7 $ 0.6 $ 1.2 $ 0.5 $ 0.9 $ 3.1 $ - $ 2.2 $ 1.7 $ 7.9 $ (0.3) $ 2.9 Net income (loss) as a % of net sales -7.5% 1.4% EBITDA $ 4.4 $ 0.7 $ 0.6 $ 1.1 $ 0.5 $ 0.9 $ - $ - $ 2.2 $ 1.7 $ 7.9 $ - $ 20.1 EBITDA as a % of net sales 2.1% 9.6%
Net Sales by Major Product Category by Reporting Segment * Results above for each of Spinal Implants, Biologics, and Enabling Technologies; Global Spine; and pro forma net sales exclude the impact from discontinuation of the M6 product lines. Since pro forma net sales represent a non-GAAP measure, see the reconciliation above of the Company’s pro forma net sales to its reported figures under U.S. GAAP. The Company’s reported figures under U.S. GAAP represent each of the pro forma line items discussed above plus the impact from discontinuation of the M6 product lines. Three Months Ended June 30, (Unaudited, U.S. Dollars, in millions) 2026 2025 Change Constant Currency Change Therapeutic Solutions $ 64.2 $ 62.6 2.5 % 2.5 % Spinal Implants, Biologics and Enabling Technologies* 109.0 104.8 4.0 % 4.0 % Global Spine* 173.2 167.4 3.5 % 3.5 % Global Limb Reconstruction 37.7 33.3 13.2 % 11.0 % Pro forma net sales* 210.9 200.7 5.1 % 4.7 % Impact from discontinuation of M6 product lines 0.0 2.4 (97.4 %) (97.5 %) Reported net sales $ 210.9 $ 203.1 3.8 % 3.5 %
Condensed Consolidated Balance Sheets (U.S. Dollars, in thousands, except par value data) June 30, 2026 December 31, 2025 (Unaudited) Assets Current assets Cash and cash equivalents $ 103,810 $ 82,025 Restricted Cash 595 3,090 Accounts receivable, net of allowances of $10,563 and $8,308, respectively 135,818 135,746 Inventories 184,475 172,319 Prepaid expenses and other current assets 21,434 23,667 Total current assets 446,132 416,847 Property, plant, and equipment, net 130,757 129,399 Intangible assets, net 65,972 72,765 Goodwill 194,934 194,934 Other long-term assets 35,225 36,702 Total assets $ 873,020 $ 850,647 Liabilities and shareholders’ equity Current liabilities Accounts payable $ 63,531 $ 58,392 Current portion of finance lease liability 125 837 Other current liabilities 93,354 111,253 Total current liabilities 157,010 170,482 Long-term debt 221,591 157,391 Long-term portion of finance lease liability 12,903 17,060 Other long-term liabilities 52,336 55,677 Total liabilities 443,840 400,610 Contingencies Shareholders’ equity Common shares $0.10 par value; 100,000 shares authorized; 40,730 and 39,834 issued and outstanding as of June 30, 2026, and December 31, 2025, respectively 4,073 3,983 Additional paid-in capital 830,423 813,769 Accumulated deficit (405,039 ) (368,333 ) Accumulated other comprehensive income (loss) (277 ) 618 Total shareholders’ equity 429,180 450,037 Total liabilities and shareholders’ equity $ 873,020 $ 850,647
Condensed Consolidated Statements of Operations Three Months Ended Six Months Ended June 30, June 30, (Unaudited, U.S. Dollars, in thousands, except share and per share data) 2026 2025 2026 2025 Net sales $ 210,933 $ 203,121 $ 407,641 $ 396,767 Cost of sales 61,226 63,588 118,388 135,615 Gross profit 149,707 139,533 289,253 261,152 Sales, general, and administrative 138,030 136,493 272,941 269,474 Research and development 15,944 15,934 31,264 35,700 Acquisition-related amortization, impairment, and remeasurement 3,867 3,109 7,618 20,854 Operating loss (8,134 ) (16,003 ) (22,570 ) (64,876 ) Interest expense, net (6,085 ) (3,950 ) (11,749 ) (8,456 ) Other income (expense), net (778 ) 5,730 (1,512 ) 6,976 Loss before income taxes (14,997 ) (14,223 ) (35,831 ) (66,356 ) Income tax (expense) benefit (801 ) 142 (875 ) (819 ) Net loss $ (15,798 ) $ (14,081 ) $ (36,706 ) $ (67,175 ) Net loss per common share: Basic $ (0.39 ) $ (0.36 ) $ (0.90 ) $ (1.71 ) Diluted (0.39 ) (0.36 ) (0.90 ) (1.71 ) Weighted average number of common shares (in millions): Basic 40.9 39.5 40.7 39.3 Diluted 40.9 39.5 40.7 39.3
Adjusted Gross Profit and Adjusted Gross Margin Three Months Ended June 30, Six Months Ended June 30, (Unaudited, U.S. Dollars, in thousands) 2026 2025 2026 2025 Gross profit $ 149,707 $ 139,533 $ 289,253 $ 261,152 Share-based compensation and long-term incentive plan expense 462 467 793 929 SeaSpine merger-related costs 225 4,341 (303 ) 4,941 Restructuring costs and impairments related to M6 product lines 217 2,791 (220 ) 13,710 Gross profit attributable to M6 product line operations (53 ) (1,639 ) (295 ) (2,545 ) Strategic investments — 43 — 56 Amortization/depreciation of acquired long-lived assets 108 351 285 664 Employee transition costs 593 — 593 — Adjusted gross profit $ 151,259 $ 145,887 $ 290,106 $ 278,907 Adjusted gross margin as a percentage of reported net sales 71.7 % 71.8 % 71.2 % 70.3 % Adjusted gross margin as a percentage of pro forma net sales 71.7 % 72.7 % 71.2 % 71.5 %
Adjusted EBITDA Three Months Ended June 30, Six Months Ended June 30, (Unaudited, U.S. Dollars, in thousands) 2026 2025 2026 2025 Net loss $ (15,798 ) $ (14,081 ) $ (36,706 ) $ (67,175 ) Income tax expense (benefit) 801 (141 ) 875 819 Interest expense, net 6,085 3,950 11,749 8,456 Depreciation and amortization 13,273 16,871 26,766 51,302 Share-based compensation and long-term incentive plan expense 7,945 7,824 14,583 14,293 Foreign exchange impact 746 (2,751 ) 1,646 (3,795 ) SeaSpine merger-related costs 572 4,886 503 6,017 Restructuring costs and impairments related to M6 product lines 217 3,651 (220 ) 13,531 Operating losses attributable to M6 product lines 868 (297 ) 1,558 1,949 Strategic investments 634 353 1,584 3,867 Acquisition-related fair value adjustments 868 (763 ) 1,618 (1,373 ) Interest and loss on investments — (31 ) (16 ) (31 ) Litigation and investigation costs 2,185 4,029 5,101 7,071 Employee retention credit — (2,854 ) (951 ) (2,854 ) Employee transition costs 1,742 — 1,742 — Adjusted EBITDA $ 20,138 $ 20,646 $ 29,832 $ 32,077 Adjusted EBITDA as a percentage of reported net sales 9.5 % 10.2 % 7.3 % 8.1 % Adjusted EBITDA as a percentage of pro forma net sales 9.6 % 10.3 % 7.3 % 8.2 %
Adjusted Net Income (Loss) Three Months Ended June 30, Six Months Ended June 30, (Unaudited, U.S. Dollars, in thousands) 2026 2025 2026 2025 Net loss $ (15,798 ) $ (14,081 ) $ (36,706 ) $ (67,175 ) Share-based compensation and long-term incentive plan expense 7,945 7,824 14,583 14,293 Foreign exchange impact 746 (2,751 ) 1,646 (3,795 ) SeaSpine merger-related costs 574 7,786 591 9,260 Restructuring costs and impairments related to M6 product lines 176 4,257 (448 ) 34,461 Operating losses attributable to M6 product lines 1,006 (766 ) 1,922 1,922 Strategic investments 637 364 1,590 3,907 Acquisition-related fair value adjustments 868 (761 ) 1,618 (1,371 ) Amortization/depreciation of acquired long-lived assets 3,107 4,221 6,285 8,853 Litigation and investigation costs 2,185 4,029 5,101 7,071 Interest and loss on investments — (31 ) (16 ) (31 ) Employee retention credit — (3,616 ) (1,135 ) (3,616 ) Employee transition costs 1,742 — 1,742 — Long-term income tax rate adjustment (316 ) (1,915 ) 1,534 (468 ) Adjusted net income (loss) $ 2,872 $ 4,560 $ (1,693 ) $ 3,311
Cash Flow and Free Cash Flow Six Months Ended June 30, (Unaudited, U.S. Dollars, in thousands) 2026 2025 Net cash used in operating activities $ (23,834 ) $ (6,752 ) Net cash used in investing activities (23,162 ) (13,833 ) Net cash provided by financing activities 66,421 1,989 Effect of exchange rate changes on cash (135 ) 1,547 Net change in cash and cash equivalents $ 19,290 $ (17,049 ) Six Months Ended June 30, (Unaudited, U.S. Dollars, in thousands) 2026 2025 Net cash used in operating activities $ (23,834 ) $ (6,752 ) Capital expenditures (23,308 ) (13,845 ) Free cash flow $ (47,142 ) $ (20,597 )
Adjusted Sales, General and Administrative Expense Three Months Ended June 30, Six Months Ended June 30, (Unaudited, U.S. Dollars, in thousands) 2026 2025 2026 2025 Sales, general, and administrative $ 138,030 $ 136,493 $ 272,941 $ 269,474 Reconciling items impacting sales, general, and administrative: SeaSpine merger-related costs (270 ) (3,384 ) (756 ) (4,142 ) Restructuring costs and impairments related to M6 product lines 41 (1,393 ) 228 (4,729 ) Sales, general, and administrative expense attributable to M6 product lines (636 ) (243 ) (1,685 ) (2,631 ) Strategic investments (633 ) (194 ) (1,581 ) (1,741 ) Amortization/depreciation of acquired long-lived assets — — — (60 ) Litigation and investigation costs (2,185 ) (3,579 ) (5,101 ) (6,621 ) Employee transition costs (1,148 ) — (1,148 ) — Sales, general, and administrative expense, as adjusted $ 133,199 $ 127,700 $ 262,898 $ 249,550 As a percentage of reported net sales 63.1 % 62.9 % 64.5 % 62.9 % As a percentage of pro forma net sales 63.2 % 63.6 % 64.5 % 64.0 %
Adjusted Research and Development Expense Three Months Ended June 30, Six Months Ended June 30, (Unaudited, U.S. Dollars, in thousands) 2026 2025 2026 2025 Research and development expense, as reported $ 15,944 $ 15,934 $ 31,264 $ 35,700 Reconciling items impacting research and development: SeaSpine merger-related costs (80 ) (62 ) (139 ) (178 ) Restructuring costs and impairments related to M6 product lines — (77 ) — (1,929 ) Research and development expense attributable to M6 product lines (413 ) (602 ) (659 ) (1,794 ) Strategic investments (3 ) (127 ) (8 ) (2,110 ) Litigation and investigation costs — (450 ) — (450 ) Research and development expense, as adjusted $ 15,448 $ 14,616 $ 30,458 $ 29,239 As a percentage of reported net sales 7.3 % 7.2 % 7.5 % 7.4 % As a percentage of pro forma net sales 7.3 % 7.3 % 7.5 % 7.5 %
Adjusted Non-Operating (Income) Expense Three Months Ended June 30, Six Months Ended June 30, (Unaudited, U.S. Dollars, in thousands) 2026 2025 2026 2025 Non-operating (income) expense $ 6,863 $ (1,780 ) $ 13,261 $ 1,480 Reconciling items impacting non-operating expense: Restructuring costs and impairments related to M6 product lines — 3 — 3 Losses (income) attributable to M6 product lines (12 ) (26 ) 126 (41 ) Foreign exchange impact (746 ) 2,751 (1,646 ) 3,795 Interest and loss on investments — 31 16 31 Employee retention credit — 3,617 1,135 3,617 Non-operating expense, as adjusted $ 6,105 $ 4,596 $ 12,892 $ 8,885 As a percentage of reported net sales 2.9 % 2.3 % 3.2 % 2.2 % As a percentage of pro forma net sales 2.9 % 2.3 % 3.2 % 2.3 %
GRAPHIC
GRAPHIC
Filename: img236010591_0.jpg · Sequence: 4
Binary file (3322 bytes)
Download img236010591_0.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s1.jpg · Sequence: 5
Binary file (281728 bytes)
Download ofix-ex99_2s1.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s2.jpg · Sequence: 6
Binary file (765685 bytes)
Download ofix-ex99_2s2.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s3.jpg · Sequence: 7
Binary file (565868 bytes)
Download ofix-ex99_2s3.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s4.jpg · Sequence: 8
Binary file (530265 bytes)
Download ofix-ex99_2s4.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s5.jpg · Sequence: 9
Binary file (548838 bytes)
Download ofix-ex99_2s5.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s6.jpg · Sequence: 10
Binary file (478642 bytes)
Download ofix-ex99_2s6.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s7.jpg · Sequence: 11
Binary file (456509 bytes)
Download ofix-ex99_2s7.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s8.jpg · Sequence: 12
Binary file (562340 bytes)
Download ofix-ex99_2s8.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s9.jpg · Sequence: 13
Binary file (495102 bytes)
Download ofix-ex99_2s9.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s10.jpg · Sequence: 14
Binary file (430415 bytes)
Download ofix-ex99_2s10.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s11.jpg · Sequence: 15
Binary file (386354 bytes)
Download ofix-ex99_2s11.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s12.jpg · Sequence: 16
Binary file (570070 bytes)
Download ofix-ex99_2s12.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s13.jpg · Sequence: 17
Binary file (460068 bytes)
Download ofix-ex99_2s13.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s14.jpg · Sequence: 18
Binary file (427876 bytes)
Download ofix-ex99_2s14.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s15.jpg · Sequence: 19
Binary file (397665 bytes)
Download ofix-ex99_2s15.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s16.jpg · Sequence: 20
Binary file (474000 bytes)
Download ofix-ex99_2s16.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s17.jpg · Sequence: 21
Binary file (453856 bytes)
Download ofix-ex99_2s17.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s18.jpg · Sequence: 22
Binary file (285890 bytes)
Download ofix-ex99_2s18.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s19.jpg · Sequence: 23
Binary file (477934 bytes)
Download ofix-ex99_2s19.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s20.jpg · Sequence: 24
Binary file (450910 bytes)
Download ofix-ex99_2s20.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s21.jpg · Sequence: 25
Binary file (582305 bytes)
Download ofix-ex99_2s21.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s22.jpg · Sequence: 26
Binary file (549971 bytes)
Download ofix-ex99_2s22.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s23.jpg · Sequence: 27
Binary file (419171 bytes)
Download ofix-ex99_2s23.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s24.jpg · Sequence: 28
Binary file (526245 bytes)
Download ofix-ex99_2s24.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s25.jpg · Sequence: 29
Binary file (413108 bytes)
Download ofix-ex99_2s25.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s26.jpg · Sequence: 30
Binary file (450153 bytes)
Download ofix-ex99_2s26.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s27.jpg · Sequence: 31
Binary file (550453 bytes)
Download ofix-ex99_2s27.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s28.jpg · Sequence: 32
Binary file (449899 bytes)
Download ofix-ex99_2s28.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s29.jpg · Sequence: 33
Binary file (506485 bytes)
Download ofix-ex99_2s29.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s30.jpg · Sequence: 34
Binary file (449061 bytes)
Download ofix-ex99_2s30.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s31.jpg · Sequence: 35
Binary file (327536 bytes)
Download ofix-ex99_2s31.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s32.jpg · Sequence: 36
Binary file (505338 bytes)
Download ofix-ex99_2s32.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s33.jpg · Sequence: 37
Binary file (463820 bytes)
Download ofix-ex99_2s33.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s34.jpg · Sequence: 38
Binary file (535904 bytes)
Download ofix-ex99_2s34.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s35.jpg · Sequence: 39
Binary file (323014 bytes)
Download ofix-ex99_2s35.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s36.jpg · Sequence: 40
Binary file (357077 bytes)
Download ofix-ex99_2s36.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s37.jpg · Sequence: 41
Binary file (388826 bytes)
Download ofix-ex99_2s37.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s38.jpg · Sequence: 42
Binary file (371849 bytes)
Download ofix-ex99_2s38.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s39.jpg · Sequence: 43
Binary file (421648 bytes)
Download ofix-ex99_2s39.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s40.jpg · Sequence: 44
Binary file (399734 bytes)
Download ofix-ex99_2s40.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s41.jpg · Sequence: 45
Binary file (366611 bytes)
Download ofix-ex99_2s41.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s42.jpg · Sequence: 46
Binary file (436573 bytes)
Download ofix-ex99_2s42.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s43.jpg · Sequence: 47
Binary file (404710 bytes)
Download ofix-ex99_2s43.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s44.jpg · Sequence: 48
Binary file (326862 bytes)
Download ofix-ex99_2s44.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s45.jpg · Sequence: 49
Binary file (380577 bytes)
Download ofix-ex99_2s45.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s46.jpg · Sequence: 50
Binary file (345043 bytes)
Download ofix-ex99_2s46.jpg
GRAPHIC
GRAPHIC
Filename: ofix-ex99_2s47.jpg · Sequence: 51
Binary file (329542 bytes)
Download ofix-ex99_2s47.jpg
XML — IDEA: XBRL DOCUMENT
XML
Filename: R1.htm · Sequence: 54
v3.26.1
Document And Entity Information
Aug. 05, 2026
Cover [Abstract]
Document Type
8-K
Amendment Flag
false
Document Period End Date
Aug. 05, 2026
Entity Registrant Name
ORTHOFIX MEDICAL INC.
Entity Central Index Key
0000884624
Entity Emerging Growth Company
false
Entity File Number
000-19961
Entity Incorporation, State or Country Code
DE
Entity Tax Identification Number
98-1340767
Entity Address, Address Line One
3451 Plano Parkway
Entity Address, City or Town
Lewisville
Entity Address, State or Province
TX
Entity Address, Postal Zip Code
75056
City Area Code
(214)
Local Phone Number
937-2000
Written Communications
false
Soliciting Material
false
Pre-commencement Tender Offer
false
Pre-commencement Issuer Tender Offer
false
Title of 12(b) Security
Common stock, $0.10 par value per share
Trading Symbol
OFIX
Security Exchange Name
NASDAQ
X
- Definition
Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.
+ References
No definition available.
+ Details
Name:
dei_AmendmentFlag
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Area code of city
+ References
No definition available.
+ Details
Name:
dei_CityAreaCode
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Cover page.
+ References
No definition available.
+ Details
Name:
dei_CoverAbstract
Namespace Prefix:
dei_
Data Type:
xbrli:stringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
+ References
No definition available.
+ Details
Name:
dei_DocumentPeriodEndDate
Namespace Prefix:
dei_
Data Type:
xbrli:dateItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
No definition available.
+ Details
Name:
dei_DocumentType
Namespace Prefix:
dei_
Data Type:
dei:submissionTypeItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Address Line 1 such as Attn, Building Name, Street Name
+ References
No definition available.
+ Details
Name:
dei_EntityAddressAddressLine1
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the City or Town
+ References
No definition available.
+ Details
Name:
dei_EntityAddressCityOrTown
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Code for the postal or zip code
+ References
No definition available.
+ Details
Name:
dei_EntityAddressPostalZipCode
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the state or province.
+ References
No definition available.
+ Details
Name:
dei_EntityAddressStateOrProvince
Namespace Prefix:
dei_
Data Type:
dei:stateOrProvinceItemType
Balance Type:
na
Period Type:
duration
X
- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityCentralIndexKey
Namespace Prefix:
dei_
Data Type:
dei:centralIndexKeyItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Indicate if registrant meets the emerging growth company criteria.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityEmergingGrowthCompany
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
No definition available.
+ Details
Name:
dei_EntityFileNumber
Namespace Prefix:
dei_
Data Type:
dei:fileNumberItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Two-character EDGAR code representing the state or country of incorporation.
+ References
No definition available.
+ Details
Name:
dei_EntityIncorporationStateCountryCode
Namespace Prefix:
dei_
Data Type:
dei:edgarStateCountryItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityRegistrantName
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityTaxIdentificationNumber
Namespace Prefix:
dei_
Data Type:
dei:employerIdItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Local phone number for entity.
+ References
No definition available.
+ Details
Name:
dei_LocalPhoneNumber
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 13e
-Subsection 4c
+ Details
Name:
dei_PreCommencementIssuerTenderOffer
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14d
-Subsection 2b
+ Details
Name:
dei_PreCommencementTenderOffer
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Title of a 12(b) registered security.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b
+ Details
Name:
dei_Security12bTitle
Namespace Prefix:
dei_
Data Type:
dei:securityTitleItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the Exchange on which a security is registered.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
+ Details
Name:
dei_SecurityExchangeName
Namespace Prefix:
dei_
Data Type:
dei:edgarExchangeCodeItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14a
-Subsection 12
+ Details
Name:
dei_SolicitingMaterial
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Trading symbol of an instrument as listed on an exchange.
+ References
No definition available.
+ Details
Name:
dei_TradingSymbol
Namespace Prefix:
dei_
Data Type:
dei:tradingSymbolItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 230
-Section 425
+ Details
Name:
dei_WrittenCommunications
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration