Orthofix (OFIX) Q4 2025 Earnings Call Transcript

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Tuesday, Feb. 24, 2026 astatine 8:30 a.m. ET

• Chief Executive Officer — Massimo Calafiore

• Chief Financial Officer — Julie Andrews

• Vice President, Investor Relations and Corporate Communications — Julie Dewey

Massimo Calafiore, and Chief Financial Officer, Julie Andrews. Today’s property merchandise and supplemental presumption are disposable connected the Events and Presentations leafage successful the Investors conception of orthofix.com, and a replay of this telephone volition beryllium posted soon aft we conclude. Before we begin, delight enactment that our remarks see forward-looking statements. These statements impact risks and uncertainties, and existent results whitethorn disagree materially. All statements different than those of humanities facts are forward-looking statements. We bash not undertake immoderate work to revise oregon update specified forward-looking statements. Factors that could origin existent results to disagree materially are discussed successful our astir caller filings with the SEC and whitethorn beryllium included successful our aboriginal filings with the SEC.

We volition besides notation assorted non-GAAP fiscal measures. Reconciliations to U.S. GAAP and further details are successful our property merchandise and supplemental materials. Unless different stated, nett income maturation rates are connected a pro forma changeless currency ground and exclude the discontinued M6 artificial disc merchandise lines, and each results of operations volition beryllium connected a non-GAAP as-adjusted basis. Here is today’s agenda. Massimo volition commencement with concern show and operational highlights, Julie Andrews volition travel with our fiscal results and our 2026 outlook. Then we volition unfastened the telephone for Q&A. With that, I volition crook the telephone implicit to Massimo.

Massimo Calafiore: Thank you, Julie, and bully morning, everyone. I admit you joining america today. The archetypal 4th capped a twelvemonth of meaningful operational advancement for Orthofix Medical Inc. We delivered strong, accordant show successful Bone Growth Therapies and U.S. limb reconstruction. And the enactment we did to finalize our spine commercialized transmission supported double-digit nett income maturation successful our planetary spine fixation business. This momentum contributed to our eighth consecutive 4th of adjusted EBITDA maturation and a standout 4th of escaped currency travel generation. Collectively, these results amusement the affirmative interaction of our focused commercialized initiatives and borderline enhancement efforts, providing a coagulated instauration arsenic we participate 2026. Further demonstrating our progress, fto maine item respective cardinal accomplishments.

Global Spine Fixation Q4 nett income grew 10% for the twelvemonth successful U.S., and successful Q4, spine fixation nett income grew 6% for the twelvemonth and 5% for the quarter. While distributor modulation implemented earlier successful 2025 created immoderate impermanent unit during the quarter, show improved meaningfully arsenic we exited Q4. With this modulation present mostly down us, adaptable entree to important IDN accounts and a strengthened highly aligned distributor web successful place, we judge that concern is acceptable up good for 2026. Building connected that momentum, our spine commercialized transmission optimization efforts continued to fortify income productivity.