Orthofix Medical Inc.
ir.orthofix.comWhat Do They Do?
Sells spine and limb-reconstruction devices, bone-growth therapies and biologics to hospitals, surgery centers and healthcare providers.
10-K for FY2025, filed Feb 24, 2026Orthofix is a global medical technology company headquartered in Lewisville, Texas. By providing medical technologies that heal…View ↗
Within the Global Spine segment, we provide implantable medical devices, biologics, enabling technologies, and other regenerative solutions…View ↗
Global Limb Reconstruction offers products and solutions for the underserved limb reconstruction market that encompasses four pillars…View ↗
How Do They Make Money?
Global Spine sells spine implants, bone-growth therapies and related products; hospitals pay for implants when used in surgery, while insurers pay for bone-growth devices after fitting and required paperwork. Stocking distributors buy products when shipped; limb reconstruction products go to hospitals or stocking distributors, with sales tied to use or shipment.
10-K for FY2025, filed Feb 24, 2026The largest portion of Bone Growth Therapies revenue is derived from third-party payors. This includes commercial insurance carriers…View ↗
Commercial revenue is largely related to the sale of the Company’s Spinal Implants and Global Limb Reconstruction products to hospital…View ↗
Other revenues within the Spinal Implants and Global Limb Reconstruction product categories are derived from stocking distributors, who…View ↗
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10-K for FY2025, filed Feb 24, 2026
FY2025 revenue by reportable segment ↗
$822.3M
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10-K for FY2025, filed Feb 24, 2026
$822.3M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Global Spine
Sold outright
10-K for FY2025, filed Feb 24, 2026 |
84%
FY2022: 77%
|
Global Spine, FY2025
$687.7M Sources
|
Sold outright |
|
Global Limb Reconstruction
Sold outright
10-K for FY2025, filed Feb 24, 2026 |
16% |
Global Limb Reconstruction, FY2025
$134.7M Sources
|
Sold outright |
Who Are Their Customers?
Hospitals, surgery centers and healthcare providers are served through direct sales representatives, sales agents and distributors. Outside the U.S., stocking distributors purchase products directly and resell them.
10-K for FY2025, filed Feb 24, 2026We have a broad sales network comprised of direct sales representatives, sales agents, and distributors. This established sales network…View ↗
Our U.S. sales network is generally comprised of a mix of direct sales representatives and independent distributors, dependent upon each…View ↗
Outside the U.S., we employ direct sales representatives in certain markets and also contract with independent stocking distributors, who…View ↗
We market and sell our products principally to physicians, hospitals, ASCs, integrated health delivery systems, and other purchasing…View ↗
Do Revenues Turn Into Profits?
No. It lost $92.2M in FY2025.
10-K for FY2025, filed Feb 24, 2026
−$81.4MView ↗
10-K for FY2025, filed Feb 24, 2026
−$92.2MView ↗
10-K for FY2025, filed Feb 24, 2026
−$1.3MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 5, 2026
−$15.8MView ↗
- ▲ +12% (Loss)
- vs −$14.1M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 5, 2026
Open tableView ↗
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Apr 9, 2026
Reaffirmed the 2026 financial outlook
Orthofix reaffirmed 2026 sales guidance of $850 million to $860 million and positive full-year free cash flow.
Sources
8-K, filed Apr 9, 2026
Net sales expected to range between $850 million to $860 million. The Company’s expected net sales represent implied year-over-year pro…View ↗
Growing. Revenue grew 77% in 4 years, from $464.5M in FY2021 to $822.3M in FY2025, about 15% a year.
Cervical disc strategy
The earlier report emphasized expanding in cervical disc replacement, while the latest says it will discontinue its artificial disc product lines and redirect resources to other growth opportunities.
10-K for FY2022, filed Mar 6, 2023 10-K for FY2025, filed Feb 24, 2026Continued expansion of our presence in the U.S cervical disc replacement market through surgeon training, publication of clinical evidence…View ↗
In February 2025, we announced our intent to discontinue our M6-C artificial cervical disc and M6-L artificial lumbar disc product lines…View ↗
Who Do They Compete With?
Competes with EBI, Enovis, Bioventus, Theragen, Xstim, Alphatec Spine, Baxter, B. Braun, Brainlab, Cerapedics, DePuy Synthes, Globus Medical, Highridge Medical, Medtronic, VB Spine, XTANT Medical, Stryker, Smith & Nephew, Paragon 28, and OrthoPediatrics
10-K for FY2025, filed Feb 24, 2026Our Bone Growth Therapies product category competes principally with similar products marketed by EBI, Enovis, Bioventus, Theragen, and…View ↗
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