Spine Leadership Realignment<\/b><\/p>\n
\nTo accelerate decision-making, sharpen leadership accountability, and further advance commercialization of the 7D\u2122 navigation platform, Orthofix has streamlined its Spine organization by eliminating the role of President, Global Spine Solutions. As a result, key Spine leaders will now report directly to Orthofix Chief Executive Officer, Massimo Calafiore.<\/p>\n
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- \nShaeffer Bannigan, Senior Vice President Global Spinal Solutions, has assumed an expanded role as Leader, Spinal Solutions, with responsibility for overall Spine strategy, commercial operations, and portfolio innovation.<\/p>\n<\/li>\n
- \nMark Sienkiewicz, Vice President U.S. Sales, will continue to lead spinal implant commercial execution, with priority focus on distributor expansion and onboarding.<\/p>\n<\/li>\n
- \nJohn Winge, Vice President Spine Commercial Strategy, will drive commercial strategies to accelerate adoption and growth of the 7D FLASH\u2122 Navigation System.<\/p>\n<\/li>\n<\/ul>\n
\nIn addition, Patrick Fisher, head of Limb Reconstruction, recently assumed leadership of the Company\u2019s Biologics business. This expanded scope is intended to strengthen commercial focus in Biologics while leveraging operational and customer-facing synergies across complementary portfolio segments.<\/p>\n
\n\u201cThese updates further clarify leadership alignment and ownership across our Spine portfolio while strengthening coordination across our commercial, strategic, and enabling technology teams,\u201d said Massimo Calafiore, President and Chief Executive Officer. \u201cBy simplifying our structure and placing decision-making closer to execution, we believe we are better positioned to move faster, scale high-value opportunities, and deliver sustainable, profitable growth for our shareholders.\u201d<\/p>\n
Preliminary First Quarter 2026 Net Sales Results and 2026 Guidance<\/b><\/p>\n
\nOrthofix today reported preliminary, unaudited first quarter 2026 net sales of approximately $196.7 million, including sales from M6 artificial cervical and lumbar discs, and non-GAAP pro forma net sales of approximately $196.4 million, excluding sales from M6 discs, representing an increase of 0.4% on a reported basis and 3% on a non-GAAP pro forma constant currency basis compared to Q1 2025.<\/p>\n
\nThe company also reaffirmed its full-year 2026 guidance as follows:<\/p>\n
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- \nNet sales expected to range between $850 million to $860 million. The Company\u2019s expected net sales represent implied year-over-year pro forma constant currency growth of approximately 5.5% at the midpoint of the range. This guidance range is based on current foreign currency exchange rates and does not take into account any additional potential exchange rate changes that may occur this year.<\/p>\n<\/li>\n
- \nNon-GAAP adjusted EBITDA expected to be $95 million to $98 million. This represents 70 basis points of non-GAAP adjusted EBITDA margin expansion at the midpoint of the range compared to 2025.<\/p>\n<\/li>\n
- \nFree cash flow expected to be positive for full-year 2026, excluding the impact of any potential legal settlements.<\/p>\n<\/li>\n<\/ul>\n
\nMr. Calafiore added, \u201cPrecise execution, faster decision-making and innovation is the focus for Orthofix in 2026. Our teams executed well to start the year, and we are proving our ability to create shareholder value. Our preliminary first quarter net sales reflect meaningful progress through recent distributor transitions as we gear up for new product launches later this year. With a clearer strategic focus, stronger leadership alignment, and an increased emphasis on high-value growth initiatives, we believe we are well positioned to scale our commercial engine, accelerate innovation, and deliver long-term value for our shareholders.\u201d<\/p>\n
Preliminary First Quarter 2026 Net Sales Results<\/i><\/p>\n
\nThe following table provides preliminary net sales:<\/p>\n
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