Orthofix Medical Inc.

Orthofix Medical Inc. reported mixed financial results for the second quarter and first six months of 2026. Net sales increased to $210.9 million for the quarter, and the operating loss improved. However, the net loss for the quarter widened to $15.8 million. The company also saw a significant increase in long-term debt due to drawing down a credit facility and incurred substantial costs related to arbitration claims with former executives and an accrual for the Italian Medical Device Payback.

Orthofix Medical Inc. reported its second quarter 2026 financial results, with net sales reaching $210.9 million, marking a 5% increase on a pro forma constant currency basis compared to the prior year. The company demonstrated continued operational progress, achieving double-digit constant currency growth in Global Spine Fixation and Global Limb Reconstruction. Following these results, Orthofix raised its full-year 2026 guidance for both net sales and adjusted EBITDA, reflecting confidence in its ongoing transformation and disciplined execution.

Orthofix Medical Inc. announced that the Centers for Medicare & Medicaid Services (CMS) has withdrawn its previously modified billing requirements for non-invasive bone growth stimulators. This reversal follows the U.S. Food and Drug Administration's (FDA) reclassification of these devices from Class III to Class II. As a result, Orthofix expects average Medicare reimbursement for these devices to return to the rates that were in effect prior to May 18, 2026.

Orthofix Medical Inc. held its 2026 Annual Meeting of Shareholders, where several key proposals were approved. Shareholders ratified Amendment No. 5 to the Second Amended and Restated Stock Purchase Plan, increasing the number of shares available for issuance by 1,250,000. Additionally, all ten director nominees were elected, the advisory resolution to approve executive compensation passed, and Ernst & Young LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2026.

Orthofix Medical Inc. has updated its financial outlook following a U.S. Food and Drug Administration reclassification of non-invasive bone growth stimulators and subsequent Centers for Medicare & Medicaid Services (CMS) billing requirement updates. The company anticipates an approximate 10% decline in average Medicare reimbursement for certain codes, leading to a revised full-year 2026 net sales forecast of $838 million to $848 million and non-GAAP adjusted EBITDA of $90 million to $93 million. Orthofix no longer expects positive free cash flow for 2026 and has withdrawn its three-year financial targets.

Orthofix Medical Inc. reported a significant narrowing of its net loss for Q1 2026 to $(20.9) million, a 60.6% improvement year-over-year, with basic EPS improving to $(0.52). Net sales increased by 1.6% to $196.7 million, driven by strong growth in Global Limb Reconstruction and Therapeutic Solutions. The company also resolved arbitration claims with former executives, accruing $23.3 million for these matters, and drew $65.0 million from its Term B Loan facility.

Orthofix Medical Inc. reported first-quarter 2026 net sales of $196.7 million, a 1.6% increase year-over-year, and a net loss of $(20.9) million, significantly improved from $(53.1) million in the prior year. Non-GAAP pro forma net sales, excluding M6 product lines, grew 3% on a constant currency basis to $196.4 million. The company reaffirmed its full-year 2026 financial guidance, expecting net sales between $850 million and $860 million and non-GAAP adjusted EBITDA of $95 million to $98 million.

Orthofix Medical Inc. announced its 2026 Annual Meeting of Shareholders will be held on June 10, 2026, in Plano, Texas, with a record date of April 13, 2026. Shareholders will vote on the election of directors, executive compensation, ratification of EY as auditor, and an amendment to the stock purchase plan. The definitive proxy statement also highlighted 2025 financial performance, including $822.3 million in net sales and a $(92.2) million net loss, alongside details on corporate governance and executive compensation practices. Max Reinhardt, President of Global Spine, is set to depart around June 12, 2026.