Orthofix Medical Inc. (OFIX)

Orthofix Medical Inc. reported second quarter 2026 net sales of $210.9 million on 5 August 2026, up 3.8 percent on the year before 2. The net loss for the quarter was $15.8 million 2.

The company raised its full-year 2026 guidance and now expects net sales of $845 million to $855 million 2. It tied the raise to the restoration of Medicare payment for bone growth stimulators and to second quarter results 2.

Chief executive Massimo Calafiore said the restoration of Medicare payment removes a meaningful headwind for the second half, while calling the transformation a work in progress 2.

Cash fell to $104.4 million on 30 June 2026 from $120.9 million on 31 March 2026, because of arbitration award and settlement payments to three former executives terminated in 2023 2.

Orthofix was founded in Verona, Italy in 1980 and was formally incorporated in 1987 in Curaçao 1. In 2018 it moved its legal home to Delaware and took the name Orthofix Medical Inc. 1.

In January 2023 it bought spine maker SeaSpine in an all-stock deal that it called a merger of equals 1. Net sales rose from $746.6 million in 2023 to $799.5 million in 2024 and $822.3 million in 2025 1.

In September 2023 the board fired the chief executive, chief financial officer and chief legal officer after an investigation by outside counsel 1. Arbitration claims by the three men, a securities class action and a shareholder suit followed 1.

Legal matters added $17.6 million to selling and administrative costs in 2025, the company said 1.

In February 2025 the company announced it would discontinue its M6 artificial cervical and lumbar discs, to put money into more profitable growth opportunities 1. M6 sales fell $13.0 million, or 55.4 percent, in 2025 1.

Net sales in 2025 were $822.3 million, up 2.9 percent, and the net loss shrank to 11.2 percent of sales from 15.8 percent in 2024 1. Spending on research and development fell 10.6 percent 1.

Global Spine

Global Spine made 84 percent of 2025 net sales and Global Limb Reconstruction made 16 percent 1. Spine sold $687.7 million, up 1.8 percent 1.

Bone growth therapies are devices that send electromagnetic or ultrasound waves into the body to help bone heal 1. They brought in $247.2 million, up 5.9 percent, helped by the AccelStim device 1.

Spinal implants, biologics and navigation tools together sold $440.5 million, down 0.3 percent 1. The navigation tool is the 7D FLASH system, which the company says works without radiation in the operating room 1.

Biologics are bone graft substitutes, partly made in house and partly supplied through the non-profit foundation MTF Biologics 1.

Global Limb Reconstruction

This segment sells devices that straighten, lengthen and repair limbs, among them the TrueLok external frame and the Fitbone internal lengthening nail 1. Sales were $134.7 million, up 8.4 percent, with U.S. growth of 15.8 percent 1.

People, places and problems

Massimo Calafiore is president and chief executive 2. The company had 1,605 employees at the end of 2025, with 1,222 in the U.S. 1.

Its largest site is a leased 140,000 square foot building in Lewisville, Texas, which houses corporate functions and all segments 1. It also leases 82,000 square feet in Carlsbad, California 1.

Arbitration claims, a securities class action and a shareholder derivative suit over the 2023 firings are still pending 1. The company warns that a loss in these cases could hurt its liquidity 1.

The company said a temporary Medicare payment cut for bone growth stimulators hit part of the second quarter before payment was restored 2.

The umbrella, in words

Orthofix Medical Inc. is the parent of its consolidated subsidiaries and affiliates, and its shares trade on Nasdaq under the symbol OFIX 1.

It owns SeaSpine, acquired in an all-stock merger completed in January 2023 1.

Part of its biologics line is tissue supplied through the non-profit foundation MTF Biologics, a supply tie the annual report names 1.

The company expects 2026 net sales of $845 million to $855 million, raised from $838 million to $848 million given on 21 May 2026 2.

It expects adjusted EBITDA, a profit measure that leaves out some costs, of $95 million to $98 million, up from $90 million to $93 million 2. At the midpoint, that is 80 basis points of margin expansion compared with 2025, the company said 2.

Its annual report says it plans a regular cadence of new product launches for spinal implants, enabling technologies, biologics and bone growth therapies 1.

The arbitration and lawsuits remain open, and the annual report says they could cost the company money that hurts its liquidity 1.

No clue on file points to a new direction yet.