Orthofix International NV (OFIX) shares surged 5.45% in the pre-market session on Tuesday after the medical device company reported better-than-expected fourth quarter 2024 results and provided an optimistic outlook for 2025.
For Q4 2024, Orthofix recorded net sales of $215.7 million, up 8% year-over-year on both a reported and constant currency basis. This exceeded analysts' estimates. The company saw strong growth across its major product categories, with Bone Growth Therapies net sales up 9%, Global Spine net sales rising 6%, and Global Orthopedics net sales jumping 18% on a constant currency basis.
Looking ahead, Orthofix issued upbeat guidance for 2025. The company expects net sales in the range of $818 million to $826 million, representing implied constant currency growth of 6.5% year-over-year at the midpoint. Orthofix also raised its long-term net sales compound annual growth rate target to 6.5% to 7.5%, up from its previous 6% to 7% outlook. Additionally, the company anticipates positive free cash flow for full-year 2025, excluding impacts from discontinuing its M6 artificial disc product lines.
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