Orthofix Medical Inc. · NASDAQ:OFIX
Orthofix Medical — 37th Annual Roth Conference (March 2025)
18 slides from Orthofix Medical's conference presentation, Mar 17, 2025
Slide 1: Clear Course for Profitable Growth
Clear Course for Profitable Growth 37th Annual Roth Conference March 17, 2025
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, relating to our business and financial outlook, which are based on our cur
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures Management uses certain non-GAAP financial measures in this presentation, most specifically Adjusted EBITDA, Adjusted Gross Margin, Adjusted Net Income and Free Cash Flow, as a supplement to GAAP financial measures to further evaluate the company’s operating performance p
Slide 4: Orthofix Today
ORTHOFIX TODAY A Compelling Path to Drive Meaningful Multiple Expansion 1980 Founded 71.0% $67.4M Adjusted Gross Margin2 Adjusted EBITDA2 Employees 1,600+ Key Stats $675M $85.7M NASDAQ OFIX Market-Cap1 Cash, Cash Equivalents, and Restricted Cash2 2024 Net Sales2 Global Presence by Business Net Sales
Slide 5: Q4 2024 Financial Highlights
Q4 2024 Financial Highlights $215.7M $23.9M $15.2M 12% 9% 21% 71.1% Net Sales Non-GAAP Free Cash Flow2 U.S. Spine Bone Growth U.S. Orthopedics Non-GAAP 8% Growth YoY Adjusted EBITDA2 Significant Fixation3 YoY Net Therapies YoY YoY Net Sales Adjusted as reported $4.3M YoY improvement in Sales Growth
Slide 6: Looking Forward – Accelerating Our Profitable Growth Engine
Looking Forward – Accelerating Our Profitable Growth Engine Invest in Capitalize on Differentiated Multiple Access Improve Technologies Points to Grow Operate Financial Strength in Areas Where Business at with Discipline for and Drive We Can Win Sustained, Margin Expansion Strong, Positive and Lead
Slide 7: Improving Financial Strength and Driving Strong, Positive Free Cash Flow
Improving Financial Strength and Driving Strong, Positive Free Cash Flow Driving Positive Free Cash Flow Free Cash Flow ($M) • Expect to be free cash flow positive for full-year 20251 − Drop-through to EBITDA of incremental revenue − Working Capital improvements $15.2 $5.9 $(0.8) $(29.4) Efficient W
Slide 8: Strategy is Driving Long-Term Profitable Growth – Increased Net Sales CAGR in 2027 Financial Goals
Strategy is Driving Long-Term Profitable Growth – Increased Net Sales CAGR in 2027 Financial Goals 2027 **6.5% – 7.5%** Mid-Teens Positive Financial Net Sales CAGR Adj. EBITDA Free Cash Flow Generation1 Targets (2025 – 2027) (Full-year 2027) (2025 – 2027) Growth Differentiated Multiple Margin Strong
Slide 9: Why Invest in Orthofix?
WHY INVEST IN ORTHOFIX? A Compelling Path to Drive Meaningful Multiple Expansion Strong fundamentals with profitable growth opportunity and compelling value 01 proposition across diverse portfolio More focused commercial strategy with robust innovation pipeline complemented 02 by successful cross-se
Slide 10: www.Orthofix.com NASDAQ: OFIX
For additional information, please contact: www.Orthofix.com Julie Dewey, IRC NASDAQ: OFIX Chief IR & Communications Officer juliedewey@orthofix.com 209-613-6945 10
Slide 11: Appendix
Appendix Financial and Non-GAAP Reconciliation Tables
Slide 12: Net Sales by Major Product Category by Reporting Segment
Net Sales by Major Product Category by Reporting Segment Three Months Ended December 31, Constant Currency (Unaudited, U.S. Dollars, in millions) 2024 2023 Change Change Bone Growth Therapies $ 63.9 $ 58.8 8.6 % 8.6 % Spinal Implants, Biologics, and Enabling Technologies 116.0 111.0 4.5 % 4.5 % Glob
Slide 13: Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (U.S. Dollars, in thousands, except par value data) December 31, 2024 December 31, 2023 Assets Current assets Cash and cash equivalents $ 83,238 $ 33,107 Restricted cash 2,500 4,650 Accounts receivable, net of allowances of $7,418 and $7,130, respectively 134,71
Slide 14: Condensed Consolidated Statements of Operations
Condensed Consolidated Statements of Operations Three Months Ended Year Ended December 31, December 31, (U.S. Dollars, in thousands, except share and per share data) 2024 2023 2024 2023 (Unaudited) Net sales $ 215,657 $ 200,415 $ 799,491 $ 746,641 Cost of sales 66,816 63,785 253,606 260,368 Gross pr
Slide 15: Adjusted Gross Profit and Adjusted Gross Margin
Adjusted Gross Profit and Adjusted Gross Margin Three Months Ended December 31, Year Ended December 31, (Unaudited, U.S. Dollars, in thousands) 2024 2023 2024 2023 Gross profit $ 148,841 $ 136,630 $ 545,885 $ 486,273 Share-based compensation expense 477 462 2,068 1,878 SeaSpine merger-related costs
Slide 16: Adjusted EBITDA
Adjusted EBITDA Three Months Ended December 31, Year Ended December 31, (Unaudited, U.S. Dollars, in thousands) 2024 2023 2024 2023 Net loss $ (29,147) $ (22,174) $ (125,997) $ (151,395) Income tax expense (benefit) (564) 125 2,122 2,716 Interest expense, net 14,920 4,500 29,631 8,631 Depreciation a
Slide 17: Adjusted Net Income
Adjusted Net Income Three Months Ended Year Ended December 31, December 31, (Unaudited, U.S. Dollars, in thousands) 2024 2023 2024 2023 Net loss $ (29,147 ) $ (22,174 ) $ (125,997 ) $ (151,395 ) Share-based compensation expense 7,165 3,167 32,455 35,707 Foreign exchange impact 3,132 (2,637 ) 4,395 (
Slide 18: Cash Flow and Free Cash Flow
Cash Flow and Free Cash Flow Year Ended December 31, (U.S. Dollars, in thousands) 2024 2023 Net cash provided by (used in) operating activities $ 25,790 $ (45,753) Net cash used in investing activities (27,580) (33,131) Net cash provided by financing activities 50,709 65,322 Effect of exchange rate
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