Orthofix Medical Inc. Q1 FY2026 earnings call

Massimo noted delivering a good start to 2026 with steady execution, improving stability, and sharper strategic focus. In April, OrthoFix simplified spine leadership structure. Spine benefited from enhanced commercial focus and distributor transitions. Biologics saw sequential improvement with targeted actions. Therapeutic Solutions continued to outperform the market. Limb reconstruction had 3% constant currency growth. Innovation pipeline is strong with Virada launch in the second half of the year

Global Spine fixation net sales grew 6% on a constant currency basis, with U.S. net sales growth of 4%. Results were supported by enhanced commercial focus, deeper procedural penetration, and the ongoing benefits of distributor transitions. Biologics performance improved sequentially during the quarter as targeted actions were implemented. Therapeutic Solutions BGT net sales were $57.8 million, up 5% year-over-year. Global limb reconstruction net sales were $32.8 million in the first quarter, up 3% on a constant currency basis

Reaffirmed full year 2026 guidance: net sales expected to range between $850 million and $860 million (approximately 5.5% pro forma constant currency growth at midpoint), non-GAAP adjusted EBITDA expected to be between $95 million and $98 million (approximately 70 basis points of margin expansion at midpoint), free cash flow positive for the full year excluding potential legal settlements

No specific detailed discussion of risks provided

Q: Tom Steffen asked about U.S. Spine growth and guidance.

A: Massimo mentioned acceleration due to innovation, distributor transition annualization. Julie said reaffirmed guidance with growth in first half 5%, second half 6%.

Q: Kaitlyn Roberts asked about geopolitical impacts and biologics.

A: Minimal impact from Middle East, biologics expected to return to market growth.

Q: Matthew Blackman asked about weather, hospital strike, biologics size, and distributor playbook.

A: No impact from weather/hospital strike, biologics size not broken out, plan to apply discipline to second-tier distributors.

Q: Mike Petoskey asked about 7D placements and limb reconstruction.

A: 7D placements updated biannually, limb reconstruction to return to double-digit growth in back half of 2026