Orthofix saw second quarter sales rise year-over-year in the second quarter of 2024, according to financial results posted Aug. 6.
Five notes:
1. Net sales of $198.6 million represent a 6% year-over-year increase, according to a news release.
2. U.S. spine fixation sales grew 12% year-over-year, and this was largely driven by distribution expansion and growing in existing markets.
3. Bone growth therapies sales also grew 12% year-over-year. This is the sixth consecutive quarter with double-digit sales increases for the segment.
4. The company's net loss grew year-over-year in the second quarter. The company saw a $33.4 million net loss in the second quarter compared to $26.7 million in the same time last year.
5. Orthofix increased its 2024 net sales guidance and estimates full-year sales to be $795 million to $800 million.