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Orthofix Reports Third Quarter 2026 Results and Revises Full-Year 2026 Guidance

OFIX
  • Orthofix Medical Inc. reported third-quarter 2026 net sales of $207.9 million, a 1% increase on a reported basis & a 2% increase on a pro forma constant currency basis compared to the prior year.
  • The company recorded a reported net loss of $6.1 million ($0.15 per share) & non-GAAP adjusted EBITDA of $26.0 million for the quarter.
  • Orthofix revised its full-year 2026 pro forma net sales guidance down to $825 million–$830 million from the previous range of $845 million–$855 million.
  • Non-GAAP adjusted EBITDA guidance for 2026 was revised down to $86 million–$88 million from the previous range of $95 million–$98 million.
  • Global Limb Reconstruction net sales grew 8% on a reported basis & 9% on a constant currency basis, while Therapeutic Solutions sales increased 4%.
  • Global Spine Fixation net sales increased 1% on both reported & constant currency bases, though Spine performance was noted as weaker overall.
  • Management cited accelerating actions to improve U.S. Spine execution, instrument set availability, & asset productivity as reasons for the revised guidance.
  • Cash, cash equivalents, & restricted cash totaled $86.9 million as of September 30, 2026, down from $104.4 million at June 30, 2026.
  • Pro forma results for the quarter & full year exclude the impact of discontinued M6 product lines.
  • Orthofix hosted a conference call on the same day to discuss the financial results & business outlook.