Orthofix reports $184M in Q3 net sales

Orthopedic

Medical device company Orthofix recorded $184 million in net sales during the third quarter, according to a Nov. 8 news release from the company.

Here are six additional notes:

1. Net sales in the 2023 third quarter increased 61.4% over 2022 third quarter results. 

2. Of the $184 million in net sales, $154.4 million came from global spine sales, and $29.7 million was generated from global orthopedic sales. 

3. Gross profit in the third quarter of 2023 was $119.8 million

4. Net loss for the quarter was $28.9 million.

5. Orthofix predicts net sales for the entirety of 2023 to be between $739 million and $744 million. 

6. The company also entered into a four-year financing agreement that has a borrowing capacity of up to $150 million. 

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