| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 210.93 | 7.2% | 3.9% |
| Total Income | 210.93 | 7.2% | 3.9% |
| Expenditure | 219.07 | 3.8% | 0.0% |
| PBT | -15.00 | 28.0% | 5.5% |
| Net Profit | -15.80 | 24.4% | 12.2% |
| OPM | -3.86% | 3.48pp | 4.02pp |
| NPM | -7.49% | 3.14pp | 0.56pp |
| EPS | -0.39 | 25.0% | 8.3% |
Orthofix Reports Q2 2026 Results, Raises Full-Year Guidance
05 Aug 2026 · 5 Aug, 4:37 pm
Summary
Orthofix Medical Inc. reported second quarter 2026 net sales of $210.9 million, a 3.8% increase year-over-year on a reported basis and 4.7% on a pro forma constant currency basis. The company saw strong performance in Global Spine Fixation and Global Limb Reconstruction, alongside 3% growth in Therapeutic Solutions. Despite a reported net loss of $(15.8) million, non-GAAP adjusted EBITDA was $20.1 million. Following these results and the restoration of Medicare reimbursement for bone growth stimulators, Orthofix is raising its full-year 2026 guidance for both net sales and adjusted EBITDA, now expecting net sales between $845 million and $855 million and adjusted EBITDA between $95 million and $98 million.
Key Highlights
- 1
Orthofix reported second quarter 2026 net sales of $210.9 million, an increase of 3.8% on a reported basis and 4.7% on a non-GAAP pro forma constant currency basis compared to the second quarter of 2025.
- 2
The company achieved double-digit constant currency growth in Global Spine Fixation and Global Limb Reconstruction, indicating strong international performance.
- 3
Therapeutic Solutions delivered 3% year-over-year net sales growth despite a temporary Medicare reimbursement headwind.
- 4
Second quarter 2026 reported net loss was $(15.8) million, while non-GAAP adjusted EBITDA was $20.1 million.
- 5
Orthofix is raising its full-year 2026 guidance for both net sales, now expected to range from $845 million to $855 million, and adjusted EBITDA, projected between $95 million to $98 million.
- 6
The company expects full-year 2026 adjusted EBITDA to represent 80 basis points of margin expansion compared to 2025 at the midpoint of the guidance range.
Management Comments
Massimo Calafiore
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. 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. 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.
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