Q1 2025 Orthofix Medical Inc Earnings Call Transcript
Key Points
- Orthofix Medical Inc (OFIX) reported a 6% year-over-year constant currency growth in pro forma net sales for Q1 2025.
- The company achieved an adjusted EBITDA margin expansion that exceeded expectations.
- Bone Growth Therapies (BGT) net sales grew 7% overall, with the AccelStim device outperforming the market.
- The global Orthopedics business saw a strong start with a 13% growth in constant currency terms.
- Orthofix received early FDA approval for AccelStim 2.0, reinforcing its market leadership in bone growth stimulation.
- There was incremental softness in Biologics and Spine Fixation due to targeted distributor transitions.
- The company faced a price decrease impact from a joint venture between a major hospital account and a regional group purchasing organization.
- Orthofix's guidance reflects a $5 million negative impact from US funded NGO business compared to 2024.
- The discontinuation of the M6 product lines resulted in restructuring charges and a negative drag on profitability.
- The first quarter experienced a high cash outflow due to annual bonuses, Q4 commissions, and severance payments related to M6 discontinuation.
Thank you for standing by. My name is Tina, and I will be your conference operator today. At this time, I would like to welcome everyone to Orthofix's first-quarter 2025 earnings call. (Operator Instructions) I will now turn the call over to Julie Dewey. Please go ahead.
Thank you, operator, and good morning, everyone. Welcome to Orthofix's first-quarter 2025 earnings call. We appreciate you joining us. I'm Julie Dewey, Orthofix's Chief IR and Communications Officer. Joining me on the call today are President and CEO, Massimo Calafiore; and Chief Financial Officer, Julie Andrews.
Before we get started, please note that our earnings release and the supplemental presentation accompanying this call are available on the Events and Presentations page of the Investors section of our corporate website at orthofix.com. Also, this call is being broadcast live over the Internet to all interested parties, and an archived copy of this webcast will be available in the Investors
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