OFIX

MKT CAP:$498M

Orthofix Medical Inc.

Market Cap

$498M

Healthcare·Medical - Devices·🇺🇸 United States·NASDAQ

Healthcare·Medical - Devices·🇺🇸·NASDAQ

Stock Price

$12.15-$2.69 (-18.13%)

Apr 23, 2026

Company Details

Orthofix Medical Inc. operates as a medical device and biologics company in the United States, Italy, Germany, France, the United Kingdom, Brazil, and internationally. It operates through two segments, Global Spine and Global Orthopedics. T...

CEO

Massimo Calafiore

IPO Date

Apr 24, 1992

Website

www.orthofix.com

Key Metrics TTM

Revenue

$818M

+4.3% YoY

Net Income

-$119M

EPS (Diluted)

-$3.03

Free Cash Flow

-$3M

Revenue / Share

$20.57

Gross Margin

68.3%

Operating Margin

-11.4%

Net Margin

-14.6%

FCF Margin

-0.4%

P/S

0.6x

P/E

—

Earnings Reports

Q4 2025

May 5, 2026

PENDING

Q3 2025

Nov 4, 2025

$206M+4.6%EPS -$0.57

Q2 2025

Aug 5, 2025

$203M+2.3%EPS -$0.36

Q1 2025

May 6, 2025

$194M+2.7%EPS -$1.35

FY 2024

Feb 25, 2025

$799M+7.1%EPS -$3.30

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$125M	$92M	-$9M
Q1 22	$106M	$78M	-$3M
Q2 22	$118M	$86M	$7M
Q3 22	$114M	$83M	-$6M
Q4 22	$122M	$89M	-$11M
Q1 23	$175M	$110M	-$60M
Q2 23	$187M	$120M	-$37M
Q3 23	$184M	$120M	-$24M
Q4 23	$200M	$137M	-$18M
Q1 24	$189M	$127M	-$29M
Q2 24	$199M	$135M	-$25M
Q3 24	$197M	$135M	-$19M
Q4 24	$216M	$149M	-$11M
Q1 25	$194M	$122M	-$49M
Q2 25	$203M	$140M	-$16M
Q3 25	$206M	$149M	-$17M

Valuation

Quarter	P/S	P/E
Q4 21	1.1x	—
Q1 22	1.1x	—
Q2 22	1.1x	—
Q3 22	1.1x	—
Q4 22	1.1x	—
Q1 23	0.9x	—
Q2 23	0.8x	—
Q3 23	0.7x	—
Q4 23	0.7x	—
Q1 24	0.7x	—
Q2 24	0.6x	—
Q3 24	0.6x	—
Q4 24	0.6x	—
Q1 25	0.6x	—
Q2 25	0.6x	—
Q3 25	0.6x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	$12M	$5M
Q1 22	-$8M	-$13M
Q2 22	-$5M	-$11M
Q3 22	-$1M	-$7M
Q4 22	$2M	-$4M
Q1 23	-$34M	-$46M
Q2 23	-$6M	-$18M
Q3 23	$477.0K	-$22M
Q4 23	-$7M	-$23M
Q1 24	-$19M	-$29M
Q2 24	$9M	-$732.0K
Q3 24	$12M	$6M
Q4 24	$24M	$15M
Q1 25	-$18M	-$25M
Q2 25	$12M	$5M
Q3 25	$12M	$2M

Capital Expenditures

Quarter	CapEx
Q4 21	$7M
Q1 22	$6M
Q2 22	$6M
Q3 22	$6M
Q4 22	$6M
Q1 23	$12M
Q2 23	$13M
Q3 23	$22M
Q4 23	$16M
Q1 24	$11M
Q2 24	$10M
Q3 24	$6M
Q4 24	$9M
Q1 25	$7M
Q2 25	$7M
Q3 25	$10M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+6.3%	+18.0%
Q1 22	+0.8%	+0.9%
Q2 22	-2.7%	-4.9%
Q3 22	+1.4%	+6.2%
Q4 22	-2.3%	-0.9%
Q1 23	+64.6%	+114.5%
Q2 23	+58.4%	+100.7%
Q3 23	+61.4%	+74.0%
Q4 23	+64.0%	+64.1%
Q1 24	+7.7%	-7.2%
Q2 24	+6.2%	-0.1%
Q3 24	+6.8%	+3.4%
Q4 24	+7.6%	+3.8%
Q1 25	+2.7%	+11.3%
Q2 25	+2.3%	-2.0%
Q3 25	+4.6%	+3.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$4M	3.2%
Q1 22	$4M	4.1%
Q2 22	$4M	3.8%
Q3 22	$5M	4.1%
Q4 22	$5M	4.0%
Q1 23	$13M	7.4%
Q2 23	$13M	7.1%
Q3 23	$6M	3.4%
Q4 23	$3M	1.6%
Q1 24	$9M	4.7%
Q2 24	$10M	5.0%
Q3 24	$7M	3.3%
Q4 24	$7M	3.3%
Q1 25	$6M	3.3%
Q2 25	$8M	3.9%
Q3 25	$7M	3.5%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q4 21	$13M	$18M	$57M	—
Q1 22	$11M	$19M	$54M	—
Q2 22	$13M	$16M	$60M	—
Q3 22	$12M	$19M	$55M	—
Q4 22	$13M	$25M	$59M	—
Q1 23	$23M	$49M	$94M	—
Q2 23	$19M	$34M	$99M	—
Q3 23	$19M	$27M	$95M	—
Q4 23	$19M	$35M	$98M	—
Q1 24	$19M	$32M	$100M	—
Q2 24	$18M	$34M	$100M	—
Q3 24	$17M	$34M	$97M	—
Q4 24	$19M	—	—	$136M
Q1 25	$20M	—	—	$133M
Q2 25	$16M	—	—	$136M
Q3 25	$15M	—	—	$148M

Revenue Segments

Quarter	Global Orthopedics	Global Spine
Q3 23	$30M	$154M
Q4 23	$31M	$170M
Q1 24	$27M	$161M
Q2 24	$31M	$168M
Q3 24	$31M	$166M
Q4 24	$36M	$180M
Q1 25	$30M	$164M
Q2 25	$33M	$170M
Q3 25	$34M	$172M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$72M	$0	$72M
Q2 22	$60M	$0	$60M
Q3 22	$52M	$0	$52M
Q4 22	$51M	$0	$51M
Q1 23	$50M	$0	$50M
Q2 23	$38M	$0	$38M
Q3 23	$34M	$0	$34M
Q4 23	$33M	$0	$33M
Q1 24	$27M	$0	$27M
Q2 24	$26M	$0	$26M
Q3 24	$30M	$0	$30M
Q4 24	$83M	$0	$83M
Q1 25	$58M	$0	$58M
Q2 25	$66M	$0	$66M
Q3 25	$66M	$0	$66M
Q4 25	$82M	$0	$82M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	20M	+0.5%	+2.4%
Q1 22	20M	+0.2%	+1.9%
Q2 22	20M	+1.1%	+0.9%
Q3 22	20M	-0.1%	+1.6%
Q4 22	20M	+0.5%	+1.7%
Q1 23	36M	+76.9%	+79.6%
Q2 23	37M	+2.9%	+82.8%
Q3 23	37M	+1.3%	+85.4%
Q4 23	37M	-0.0%	+84.3%
Q1 24	38M	+1.4%	+5.6%
Q2 24	38M	+0.7%	+3.4%
Q3 24	38M	+1.2%	+3.3%
Q4 24	39M	+0.6%	+3.9%
Q1 25	39M	+1.3%	+3.9%
Q2 25	40M	+0.8%	+3.9%
Q3 25	40M	+0.7%	+3.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$115.1K	1K
Q1 22	$97.9K	1K
Q2 22	$108.6K	1K
Q3 22	$104.9K	1K
Q4 22	$111.9K	1K
Q1 23	$160.4K	1K
Q2 23	$171.3K	1K
Q3 23	$168.5K	1K
Q4 23	$122.7K	2K
Q1 24	$115.4K	2K
Q2 24	$121.6K	2K
Q3 24	$120.3K	2K
Q4 24	$133.5K	2K
Q1 25	$119.8K	2K
Q2 25	$125.7K	2K
Q3 25	$127.2K	2K

Revenue / Employee