Orthofix sees FY23 revenue $746.5M, consensus $741.55M

Orthofix Medical announced preliminary unaudited fourth quarter 2023 net sales of approximately $200.3M an increase of 63.8% on a reported basis and 62.8% on a constant currency basis versus fourth quarter 2022. For the full year 2023, preliminary unaudited net sales were approximately $746.5M , an increase of 62.0% on a reported basis and 61.5% on a constant currency basis. “We are very pleased with our results for the fourth quarter of 2023 and believe the strength and stability Orthofix exhibited through the end of the year will continue into 2024,” said Catherine Burzik, Chair of the Board of Directors and former Interim CEO of Orthofix. “Our preliminary revenue numbers reflect heightened performance and increased momentum across all business segments; BGT reported another sequential quarter of double-digit growth, and the Orthopedics segment finished 2023 having grown revenue by 7% over the prior year. Enabling Technologies set a revenue record in the fourth quarter, and within U.S. Spine, our commercial teams were able to leverage unique opportunities in the market to sign agreements with multiple high-value distributors. I remain proud of the unwavering commitment of the Orthofix team to continuously realize merger synergies and drive value creation for the Company and its shareholders.”