Orthofix Medical (NASDAQ: OFIX) raises 2026 net sales and EBITDA guidance

Rhea-AI Filing Summary

Orthofix Medical reported Q2 2026 net sales of $210.9 million, up 3.8% on a reported basis and 4.7% on a pro forma constant-currency basis versus Q2 2025. Growth was driven by double‑digit constant‑currency increases in Global Spine Fixation and Global Limb Reconstruction, 3% growth in Therapeutic Solutions, and stabilizing Biologics.

GAAP gross margin was 71.0%, or 71.7% on an adjusted basis. The company recorded a net loss of $15.8 million, or $0.39 per share, slightly wider than a year ago, while non‑GAAP adjusted EBITDA was $20.1 million, or 9.6% of pro forma net sales, modestly below the prior-year quarter. Cash, cash equivalents and restricted cash were $104.4 million at June 30, 2026, with long‑term debt of $221.6 million; cash declined sequentially mainly due to arbitration award and settlement payments to former executives.

Reflecting Q2 performance and restored Medicare reimbursement for non‑invasive bone growth stimulators, Orthofix raised its 2026 non‑GAAP pro forma guidance to net sales of $845–$855 million and adjusted EBITDA of $95–$98 million, which at the midpoint implies about 5% constant‑currency revenue growth and 80 basis points of adjusted EBITDA margin expansion versus 2025.

Filing Explained

By June 30, 2026, six-month free cash flow remained negative at $47,142 thousand despite the stated path toward positive free cash flow.

As an Item 2.02 Form 8-K, this document furnishes the company’s second-quarter results and revised 2026 guidance; its current state is furnished disclosure, not information treated as filed under Section 18.

The release calls the quarter “continued operational progress” and the presentation says the company is “driving toward positive free cash flow”; however, six-month free cash flow was negative $47,142 thousand, with $23,834 thousand used in operating activities and $23,308 thousand in capital expenditures.

The balance sheet reports 40,730 thousand issued and outstanding common shares at June 30, 2026, versus 39,834 thousand at December 31, 2025, alongside 100,000 thousand authorized shares.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Q2 2026 net sales: $210.9 million Q2 2026 GAAP gross margin: 71.0% Q2 2026 adjusted gross margin: 71.7% +5 more

8 metrics

Q2 2026 net sales $210.9 million Three months ended June 30, 2026; up 3.8% reported vs Q2 2025

Q2 2026 GAAP gross margin 71.0% Gross margin for the quarter ended June 30, 2026

Q2 2026 adjusted gross margin 71.7% Adjusted gross margin as a percentage of reported net sales in Q2 2026

Q2 2026 net loss ($15.8 million) Net loss for the quarter ended June 30, 2026; ($0.39) per share

Q2 2026 adjusted EBITDA $20.1 million Non‑GAAP adjusted EBITDA; 9.6% of pro forma net sales in Q2 2026

Cash and restricted cash $104.4 million Cash, cash equivalents and restricted cash as of June 30, 2026

Long-term debt $221.6 million Long-term debt outstanding as of June 30, 2026

2026 net sales guidance $845–$855 million Full-year 2026 non‑GAAP pro forma net sales guidance range

Key Terms

non-GAAP financial measures, Adjusted EBITDA, constant currency, free cash flow, +2 more

6 terms

non-GAAP financial measures financial

"The Company's non-GAAP financial measures provide management with additional insight into the Company's results"

Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.

Adjusted EBITDA financial

"Non-GAAP adjusted EBITDA was 20.1 million, or 9.6% of pro forma net sales"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

constant currency financial

"5% on a pro forma constant currency basis compared to second quarter 2025"

Constant currency is a way of measuring financial results that removes the effects of changes in currency exchange rates. It allows for a clearer comparison of a company's performance over time by showing what the numbers would look like if exchange rates had stayed the same. This helps investors understand whether growth comes from actual business improvements or just currency fluctuations.

free cash flow financial

"Free cash flow is a non-GAAP financial measure, which is calculated by subtracting capital expenditures"

Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.

Employee retention credit financial

"Employee retention credit – Pertains to refunds received, interest earned, or professional fees incurred"

A government-provided payroll tax credit that reimburses employers for a portion of wages paid to staff during qualifying downturns or disruptions, designed to encourage businesses to keep employees on the payroll. For investors, it matters because the credit improves a company’s cash flow and reduces payroll expenses—like a temporary government subsidy that boosts short-term profits and may change the company’s reported tax liabilities and cash reserves, which can affect valuation and risk assessments.

Enabling Technologies technical

"Enabling Technologies (ET) Focus on 7D equipment placements to drive recurring implant usage"

Earnings Snapshot

Net sales: $210.9 million · Guidance included

quarter ended June 30, 2026

Net sales $210.9 million up 3.8% reported and 4.7% pro forma constant currency vs Q2 2025

Net loss ($15.8 million) compared with a net loss of ($14.1 million) in Q2 2025

Adjusted EBITDA $20.1 million compared with $20.6 million in Q2 2025

GAAP gross margin 71.0% was 71.7% on an adjusted basis in Q2 2026

Guidance

For full-year 2026, Orthofix expects non-GAAP pro forma net sales of $845–$855 million and non-GAAP adjusted EBITDA of $95–$98 million, implying about 5% pro forma constant-currency sales growth and 80 basis points of adjusted EBITDA margin expansion versus 2025 at the midpoint.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Understanding 8-K Material Events →

Available on EDGAR 08/05/2026 - 07:04 AM Accepted by SEC EDGAR 08/05/2026 - 07:03 AM Learn about SEC filing dates

FAQ

How did Orthofix Medical (OFIX) perform financially in Q2 2026?

Orthofix Medical reported Q2 2026 net sales of $210.9 million, up 3.8% year over year, with a net loss of $15.8 million. Non‑GAAP adjusted EBITDA was $20.1 million, or 9.6% of pro forma net sales, showing modestly lower profitability versus Q2 2025.

What were Orthofix Medical’s Q2 2026 net sales growth rates?

Q2 2026 net sales were $210.9 million, an increase of 3.8% on a reported basis and 4.7% on a pro forma constant-currency basis versus Q2 2025. Growth was supported by double‑digit constant‑currency gains in Global Spine Fixation and Global Limb Reconstruction.

What loss and EBITDA did Orthofix Medical (OFIX) report for Q2 2026?

Orthofix posted a Q2 2026 net loss of $15.8 million, or $0.39 per share, compared with a $14.1 million loss a year earlier. Non‑GAAP adjusted EBITDA was $20.1 million, versus $20.6 million in Q2 2025, equal to 9.6% of pro forma net sales.

What is Orthofix Medical’s 2026 guidance for net sales and adjusted EBITDA?

For 2026, Orthofix now expects non‑GAAP pro forma net sales of $845–$855 million and non‑GAAP adjusted EBITDA of $95–$98 million. At the midpoint, this implies about 5% constant‑currency sales growth and roughly 80 basis points of adjusted EBITDA margin expansion versus 2025.

How did Orthofix Medical’s business segments perform in Q2 2026?

In Q2 2026, Orthofix generated double‑digit constant‑currency growth in Global Spine Fixation and Global Limb Reconstruction. Therapeutic Solutions net sales grew 3% year over year, while Biologics stabilized and began to regain momentum, aided by focused commercial execution.

What was Orthofix Medical’s cash and debt position as of June 30, 2026?

As of June 30, 2026, Orthofix held $104.4 million in cash, cash equivalents and restricted cash, and $221.6 million of long‑term debt. Cash declined from March 31, 2026, primarily due to arbitration award and settlement payments to former executives.

How is Orthofix Medical using non-GAAP measures like adjusted EBITDA and free cash flow?

Orthofix uses non‑GAAP measures such as adjusted EBITDA, adjusted gross margin, adjusted net income and free cash flow to evaluate underlying performance, compare periods, set operational goals, and benchmark against peers, while also providing reconciliations to the most directly comparable GAAP metrics.

false000088462400008846242026-08-052026-08-05

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 05, 2026

ORTHOFIX MEDICAL INC.

(Exact name of Registrant as Specified in Its Charter)

Delaware			000-19961	98-1340767
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
3451 Plano Parkway
Lewisville, Texas				75056
(Address of Principal Executive Offices)				(Zip Code)

Registrant's Telephone Number, Including Area Code: (214) 937-2000

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common stock, $0.10 par value per share		OFIX		Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On August 5, 2026, Orthofix Medical Inc. (the "Company") issued a press release announcing, among other things, its financial results for the second quarter ended June 30, 2026. A copy of the press release is furnished herewith as Exhibit 99.1 and attached hereto.

The information furnished in this Item 2.02, including the exhibit furnished herewith as Exhibit 99.1, will not be treated as "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. This information will not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended (the "Securities Act"), or into another filing under the Exchange Act, unless that filing expressly incorporates by reference this Item 2.02 of this report.

Discussion of Non-GAAP Financial Measures

In addition to using standard measures of performance and liquidity that are recognized in accordance with accounting principles generally accepted in the United States of America ("GAAP"), the Company uses additional financial measures excluding certain GAAP items ("non-GAAP measures"), such as:

Constant Currency

Constant currency is a non-GAAP measure, which the Company calculates by using foreign currency rates from the comparable, prior-year period, to present net sales at comparable rates. Constant currency can be presented for numerous GAAP measures, but is most commonly used by management to analyze net sales without the impact of changes in foreign currency rates.

Free Cash Flow

Free cash flow is a non-GAAP financial measure, which is calculated by subtracting capital expenditures from cash flow provided by or used in operating activities. Free cash flow is an important indicator of how much cash is generated or used by the Company's business operations, including capital expenditures. Management uses free cash flow to measure progress on its capital efficiency and cash flow initiatives.

Adjusted Gross Profit and Adjusted Gross Margin

Adjusted gross profit represents GAAP gross profit with adjustments to exclude the impact of the certain items recorded to cost of goods sold. Potential adjustments are listed within the section below under the header "Non-GAAP Adjustments." Adjusted gross margin represents adjusted gross profit as a percentage of GAAP net sales.

Adjusted Net Income (Loss)

Adjusted net income (loss) represents GAAP net loss with adjustments to exclude the impact of certain items recorded in such GAAP net loss. Potential adjustments are listed within the section below under the header "Non-GAAP Adjustments."

Adjusted Operating Expenses

Adjusted operating expenses represents GAAP operating expenses, such as sales, general, and administrative expense, and research and development expense, with adjustments to exclude the impact of certain items recorded in such GAAP operating expenses. Potential adjustments are listed within the section below under the header "Non-GAAP Adjustments."

Adjusted Non-Operating Expenses

Adjusted non-operating expenses represents GAAP non-operating expenses, such as interest income (expense), net and other income (expense), net, with adjustments to exclude the impact of certain items recorded in such GAAP non-operating expenses. Potential adjustments are listed within the section below under the header "Non-GAAP Adjustments."

EBITDA

EBITDA is a non-GAAP financial measure, which the Company calculates by adding interest expense (income), net; income tax expense (benefit); and depreciation and amortization to net income (loss). EBITDA provides management with additional insight into the Company's results of operations. Adjusted EBITDA, which is the primary metric used by the Company's chief operating decision maker in managing the business, consists of EBITDA with adjustments to exclude certain items listed within the section below under the header "Non-GAAP Adjustments."

Non-GAAP Adjustments

The Company's non-GAAP financial measures provide management with additional insight into the Company's results of operations and reflect the exclusion of the following items:

•Share-based compensation and long-term incentive plan expense – Costs related to awards granted under the Company's share-based compensation plans, which include stock options, performance-based or market-based stock options, restricted stock units, performance-based or market-based restricted stock units, stock issued under the Company's stock purchase plan, and performance-based cash-settled awards; see the share-based compensation footnote in the Company's Form 10-Q for the quarter ended June 30, 2026, for an allocation of share-based compensation costs by consolidated

statement of operations line item. Management excludes this item when evaluating the Company's operating performance as it primarily represents a non-cash expense.

•Foreign exchange impact – Gains and losses related to foreign currency transactions, which are recorded as other income (expense), net. Management excludes this item when evaluating the Company's operating results as it is primarily a non-cash expense or benefit and is non-operating in nature.

•SeaSpine merger-related costs – Costs related to the Company's merger with SeaSpine Holdings Corporation ("SeaSpine"), which was consummated in January 2023, including costs relating to integration efforts, severance and retention costs, product rationalization charges, contract termination penalties, and professional fees related to the merger. Management excludes this item when evaluating the Company's operating results as these costs associated with this event are of a temporary nature, are not related to the Company's core operating performance, and are not expected to recur at a similar frequency and magnitude in the future.

•Restructuring costs and impairments related to M6 product lines – Restructuring costs, including severance-related benefits, and impairment charges incurred as a result of the Company's decision to discontinue its M6 artificial disc product lines (the "M6 product lines"). Management excludes this item when evaluating the Company's operating results as these costs associated with this event are one-time in nature and are not related to the Company's expected ongoing operations.

•Operating losses attributable to M6 product lines – Represents operating income or loss generated by the Company's discontinued M6 product lines, including the associated net sales, cost of sales, and operating expenses directly attributable to those product lines. Management excludes these amounts when evaluating operating performance because the Company has exited the M6 business and such results are not reflective of ongoing operations.

•Strategic investments – Costs related to the Company's strategic investments, such as due diligence and integration costs (unrelated to the merger with SeaSpine), which are primarily recorded as sales, general, and administrative expenses. These costs are not factored into the evaluation of the Company's performance by management because they are of a temporary nature, not related to the Company's core operating performance, and because the frequency and amount of such costs vary significantly based on the timing and magnitude of the Company's strategic investments.

•Acquisition-related fair value adjustments – Comprised of (i) gains and losses related to remeasurement of contingent consideration to fair value, which are recorded as operating expenses, (ii) recognized costs related to acquired in-process research and development ("IPR&D") assets, which are expensed immediately, and (iii) amortization of acquired inventory fair market value adjustments. Management excludes these adjustments when evaluating the Company's operating results as (i) the remeasurement of contingent consideration is primarily non-cash in nature, (ii) the frequency and amount of IPR&D charges can vary significantly based on the timing and magnitude of the Company's acquisition transactions, and (iii) inventory fair market value adjustments are of a temporary and non-cash nature.

•Amortization/depreciation of acquired long-lived assets – Amortization of intangible assets acquired in business combinations or asset acquisitions, including items such as developed technologies, customer relationships, trade names, manufacturing agreements, and other intangible assets, and any impairment of acquired goodwill, which are recorded in cost of sales or operating expenses. This item also includes depreciation recognized on adjustments to the fair value of certain long-lived assets acquired in the merger with SeaSpine. Management excludes this item when evaluating the Company's operating performance as it represents a non-cash expense.

•Litigation and investigation-related costs – Inclusive of (i) adverse or favorable legal judgments or negotiated legal settlements and certain related legal expenses and (ii) amounts incurred in relation to and as a result of the Board of Directors' investigation conducted by independent outside legal counsel that resulted in the departure of three former executive officers and certain charges stemming from these actions. These charges are primarily recorded within sales, general, and administrative expenses. Management excludes these items when evaluating the Company's operating results as these costs and/or benefits can vary significantly based on the timing, frequency, and magnitude of litigation matters or investigations.

•Interest and loss on investments – Interest income and net gains or losses recognized (realized or unrealized) within interest income (expense), net and other income (expense), net, respectively, relating to certain of the Company's investments. Management excludes these items when evaluating the Company's operating performance as it typically represents a non-cash gain or loss and is not related to the Company's core operating performance.

•Employee retention credit – Pertains to refunds received, interest earned, or professional fees incurred associated with the refundable payroll tax credit established by the Coronavirus Aid, Relief, and Economic Security Act. Management excludes this item when evaluating the Company's operating results as these amounts primarily relate to costs incurred in prior years, and are not related to the Company's ongoing operations.

•Employee transition costs – Severance-related benefits and other employee separation costs incurred in connection with discrete workforce optimization initiatives, organizational realignment activities, and leadership changes. These expenses are primarily recorded within sales, general and administrative expenses. Management excludes these costs when

evaluating operating results because they are associated with specific actions undertaken to improve organizational efficiency and are not considered reflective of the Company's underlying operating performance.

•Long-term income tax rate adjustment – Reflects management's expectation of a long-term normalized effective tax rate of 28% for 2025 and 2026 results, which is based on current tax law and current expected adjusted income; actual reported tax expense will ultimately be based on GAAP earnings and may differ from the expected long-term normalized effective tax rate due to a variety of factors, including the resolution of issues arising from tax audits with various tax authorities, the ability to realize deferred tax assets, and the tax impact of certain reconciling items that are excluded in determining adjusted net income (loss).

Usefulness and Limitations of Non-GAAP Financial Measures

Management uses non-GAAP measures to evaluate performance period-over-period, analyze the underlying trends in the Company's business, assess the Company's performance relative to its competitors, and establish operational goals and forecasts used in allocating resources. Management uses these non-GAAP measures as the basis for evaluating the ability of the Company's underlying operations to generate cash, prior to required investments in working capital, and to further its understanding of the performance of the Company's business units.

Material Limitations Associated with the Use of Non-GAAP Financial Measures

The non-GAAP financial measures described above may have limitations as analytical tools, and should not be considered in isolation or as a replacement for GAAP financial measures. Some of the limitations associated with the use of these non-GAAP financial measures are that they exclude items that reflect an economic cost and can have a material effect on cash flows. Similarly, certain non-cash expenses, such as share-based compensation, do not directly impact cash flows, but are part of total compensation costs accounted for under GAAP.

Compensation for Limitations Associated with Use of Non-GAAP Financial Measures

The Company compensates for the limitations of its non-GAAP financial measures by relying upon GAAP results to gain a complete picture of the Company's performance. GAAP results provide management with the ability to understand the Company's performance based on a defined set of criteria. The Company provides reconciliations of the non-GAAP financial measures to the most directly comparable GAAP measures and encourages investors to review these reconciliations.

Usefulness of Non-GAAP Financial Measures to Investors

The Company believes that providing non-GAAP financial measures, which exclude certain items, offers investors greater transparency into the information used by management in its financial and operational decision-making. Management believes it is important to provide investors with the same non-GAAP financial measures it uses to supplement information regarding the performance and underlying trends of the Company's business operations in order to facilitate comparisons to the Company's historical operating results and internally evaluate the effectiveness of the Company's operating strategies. The Company believes that these non-GAAP financial measures also facilitates comparisons of the Company's underlying operating performance with other companies in the industry that also supplement their GAAP results with non-GAAP financial measures.

Item 7.01 Regulation FD Disclosure.

The Company expects to use the corporate investor relations presentation furnished as Exhibit 99.2 to this report, in whole or in part, and possibly with modifications, in connection with presentations to investors, analysts, and others during the fiscal year ending December 31, 2026.

The information furnished in this Item 7.01, including the exhibit furnished herewith as Exhibit 99.2, will not be treated as "filed" for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section. This information will not be deemed incorporated by reference into any filing under the Securities Act, or into another filing under the Exchange Act, unless that filing expressly incorporates by reference this Item 7.01 of this report.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1	Press release, dated August 5, 2026
99.2	Corporate Investor Relations Presentation, dated August 5, 2026
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Orthofix Medical Inc.
By:		/s/ JULIE ANDREWS
		Julie Andrews Chief Financial Officer

Date: August 5, 2026

Exhibit 99.1

News Release

Orthofix Reports Second Quarter 2026 Results Reflecting Continued Operational Progress

LEWISVILLE, Texas — August 5, 2026 — Orthofix Medical Inc. (NASDAQ:OFIX), a leading global medical technology company, today reported its financial results for the second quarter ended June 30, 2026, reflecting progress toward a more focused and consistent operating model. The Company also raised its full-year 2026 guidance for both net sales and adjusted EBITDA. All pro forma measures contained within this release exclude the impact of the discontinued M6™ product lines.

Highlights

•Second quarter 2026 reported net sales of $210.9 million, representing an increase of 4% on a reported basis and 5% on a pro forma constant currency basis compared to second quarter 2025.

•Generated double-digit constant currency growth in Global Spine Fixation1 and Global Limb Reconstruction, reflecting strong international performance and continued demand across key growth platforms.

•Therapeutic Solutions (formerly Bone Growth Therapies) delivered 3% year-over-year net sales growth despite a temporary Medicare reimbursement headwind affecting bone growth stimulators during part of the second quarter.

•Biologics stabilized and began to regain momentum, supported by focused commercial execution.

•Second quarter 2026 reported net loss of $(15.8) million and non-GAAP adjusted EBITDA of $20.1 million.

“Our second quarter results provide further evidence that the operational actions we have taken over the past year are beginning to show up more clearly in the business,” said Massimo Calafiore, President and Chief Executive Officer of Orthofix. “We delivered 5% pro forma, constant-currency net sales growth, supported by double-digit growth in Global Limb Reconstruction and Spine Fixation, sequential momentum in Biologics, and the restoration of Medicare reimbursement for bone growth stimulators, which removes a meaningful headwind for our Therapeutic Solutions business as we enter the second half of the year.”

Mr. Calafiore continued, “While our transformation remains a work in progress, we believe Orthofix is operating from a stronger position than it was a year ago. Our focus remains on improving the quality of growth, strengthening commercial productivity, and building a more consistent path to profitability and cash generation. As we continue to execute with discipline, we believe we are building a stronger foundation for durable, profitable growth and long-term shareholder value.”

1 Spine Fixation is comprised of the Company’s Spinal Implants product category, excluding motion preservation product offerings.

1

Financial Results Overview

Second Quarter 2026 Net Sales and Financial Results

The following table provides net sales by major product category and by reporting segment on a pro forma basis, removing the effects of the Company’s discontinued M6 product lines:

		Three Months Ended June 30,
(Unaudited, U.S. Dollars, in millions)		2026				2025				Change				Constant Currency Change
Therapeutic Solutions		$	64.2			$	62.6				2.5	%			2.5	%
Spinal Implants, Biologics and Enabling Technologies*			109.0				104.8				4.0	%			4.0	%
Global Spine*			173.2				167.4				3.5	%			3.5	%
Global Limb Reconstruction			37.7				33.3				13.2	%			11.0	%
Pro forma net sales*			210.9				200.7				5.1	%			4.7	%
Impact from discontinuation of M6 product lines			0.0				2.4				(97.4	%)			(97.5	%)
Reported net sales		$	210.9			$	203.1				3.8	%			3.5	%

* Results above for each of Spinal Implants, Biologics, and Enabling Technologies; Global Spine; and pro forma net sales exclude the impact from discontinuation of the M6 product lines. Since pro forma net sales represent a non-GAAP measure, see the reconciliation above of the Company’s pro forma net sales to its reported figures under U.S. GAAP. The Company’s reported figures under U.S. GAAP represent each of the pro forma line items discussed above plus the impact from discontinuation of the M6 product lines.

For the second quarter of 2026, net sales were $210.9 million, representing an increase of 3.8% on a reported basis and 4.7% on a non-GAAP pro forma constant currency basis compared to second quarter 2025.

For the second quarter of 2026, GAAP gross margins were 71.0% and were 71.7% on a non-GAAP adjusted basis.

For the second quarter of 2026, reported net loss was $(15.8) million, or $(0.39) per share compared to reported net loss of $(14.1) million, or $(0.36) per share in the prior year period. Non-GAAP adjusted EBITDA was $20.1 million, or 9.6% of pro forma net sales, in the second quarter of 2026, compared to non-GAAP adjusted EBITDA of $20.6 million, or 10.3% of pro forma net sales, in the second quarter of 2025.

Liquidity

Cash, cash equivalents, and restricted cash on June 30, 2026, totaled $104.4 million compared to $120.9 million on March 31, 2026. The decrease was due to arbitration award and settlement payments related to pending claims from three former executives terminated in 2023.

Business Outlook

Following the restoration of Medicare reimbursement for non-invasive bone growth stimulators to its prior level, second-quarter performance, and the Company’s current expectations for the remainder of the year, Orthofix is increasing its full-year 2026 guidance for both net sales and adjusted EBITDA. All measures are provided on a non-GAAP pro forma basis and are based on current foreign currency exchange rates.

•Net sales are now expected to range from $845 million to $855 million, an increase of $7 million at both the low and high ends of the range from the Company’s previous guidance of $838 million to $848 million issued on May 21, 2026. The updated range represents approximately 5% year-over-year pro forma constant currency growth at the midpoint and does not take into account any additional exchange rate changes that may occur this year.

•The Company is increasing its full-year 2026 non-GAAP adjusted EBITDA guidance to $95 million to $98 million, compared to its previous guidance of $90 million to $93 million issued on May 21, 2026. The updated range reflects continued operating discipline and cost management, while also balancing planned growth investments and geographic mix dynamics. At the midpoint, this represents 80 basis points of non-GAAP adjusted EBITDA margin expansion compared to 2025.

2

An investor presentation for the Company’s second quarter 2026 financial results is available in the “Events & Presentations” section of the Orthofix Investor Relations Website at ir.orthofix.com.

Conference Call

Orthofix will host a conference call today at 8:30 AM Eastern Time to discuss the Company’s financial results for the second quarter ended June 30, 2026. Interested parties may access the conference call by dialing (888) 596-4144 in the U.S., and (646) 968-2525 in all other locations, and referencing the conference ID 8700861. A webcast and replay of the conference call may be accessed in the “Events & Presentations” section of the Orthofix Investor Relations Website at ir.orthofix.com.

Internet Posting of Information

Orthofix regularly shares important updates in the “Investors” section of its website at www.orthofix.com. The Company encourages investors and potential investors to consult the Orthofix website regularly for important information about Orthofix.

About Orthofix

Orthofix is a global medical technology company dedicated to advancing healing and restoring mobility for patients with complex musculoskeletal conditions. Headquartered in Lewisville, Texas, the Company offers a differentiated portfolio of spinal implants, therapeutic solutions, limb reconstruction systems, biologics and enabling technologies, including the 7D FLASH™ Navigation System. Orthofix’s technology-enabled solutions are designed to support surgeons across the continuum of care and improve outcomes for patients. Learn more at Orthofix.com and follow Orthofix on LinkedIn.

Forward-Looking Statements

This communication 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 current beliefs, assumptions, intentions, plans, expectations, estimates, forecasts and projections. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “projects,” “intends,” “predicts,” “potential,” “positioned,” “deliver,” or “continue” or other comparable terminology. Forward-looking statements in this communication include the Company’s expectations regarding net sales and adjusted EBITDA for the year ended December 31, 2026. Forward-looking statements are not guarantees of our future performance, are based on our current expectations and assumptions regarding our business, the economy and other future conditions, and are subject to risks, uncertainties and changes in circumstances that are difficult to predict, including the risks described in Part I, Item 1A under the heading Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2025, and in Part II, Item 1A under the heading Risk Factors in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2026. Factors that could cause future results to differ from those expressed by forward-looking statements include, but are not limited to, (i) our ability to maintain operations to support our customers and patients in the near-term and to capitalize on future growth opportunities, (ii) risks associated with acceptance of surgical products and procedures by surgeons and hospitals, (iii) development and acceptance of new products or product enhancements, (iv) clinical and statistical verification of the benefits achieved via the use of our products, (v) our ability to adequately manage inventory, (vi) our ability to successfully optimize our commercial channels, (vii) our success in defending legal proceedings brought against us, and (viii) the other risks and uncertainties more fully described in our periodic filings with the Securities and Exchange Commission (the “SEC”). As a result of these various risks, our actual outcomes and results may differ materially from those expressed in these forward-looking statements.

3

Further, any forward-looking statement speaks only as of the date hereof, unless it is specifically otherwise stated to be made as of a different date. The Company undertakes no obligation to update, and expressly disclaims any duty to update, its forward-looking statements, whether as a result of circumstances or events that arise after the date hereof, new information, or otherwise, except as required by law.

The Company is unable to provide expectations of GAAP net income (loss), the closest comparable GAAP measures to adjusted EBITDA (which is a non-GAAP measure), on a forward-looking basis because the Company is unable to predict, without unreasonable efforts, the ultimate outcome of matters (including acquisition-related expenses, accounting fair value adjustments, and other such items) that will determine the quantitative amount of the items excluded in calculating adjusted EBITDA, which items are further described in the reconciliation tables and related descriptions below. These items are uncertain, depend on various factors, and could be material to the Company’s results computed in accordance with GAAP.

Company Contact

Investors and Media

Julie Dewey, IRC

Chief Investor Relations & Communications Officer

JulieDewey@Orthofix.com

+1 209.613.6945

4

ORTHOFIX MEDICAL INC.

Condensed Consolidated Statements of Operations

		Three Months Ended								Six Months Ended
		June 30,								June 30,
(Unaudited, U.S. Dollars, in thousands, except share and per share data)		2026				2025				2026				2025
Net sales		$	210,933			$	203,121			$	407,641			$	396,767
Cost of sales			61,226				63,588				118,388				135,615
Gross profit			149,707				139,533				289,253				261,152
Sales, general, and administrative			138,030				136,493				272,941				269,474
Research and development			15,944				15,934				31,264				35,700
Acquisition-related amortization, impairment, and remeasurement			3,867				3,109				7,618				20,854
Operating loss			(8,134	)			(16,003	)			(22,570	)			(64,876	)
Interest expense, net			(6,085	)			(3,950	)			(11,749	)			(8,456	)
Other income (expense), net			(778	)			5,730				(1,512	)			6,976
Loss before income taxes			(14,997	)			(14,223	)			(35,831	)			(66,356	)
Income tax (expense) benefit			(801	)			142				(875	)			(819	)
Net loss		$	(15,798	)		$	(14,081	)		$	(36,706	)		$	(67,175	)
Net loss per common share:
Basic		$	(0.39	)		$	(0.36	)		$	(0.90	)		$	(1.71	)
Diluted			(0.39	)			(0.36	)			(0.90	)			(1.71	)
Weighted average number of common shares (in millions):
Basic			40.9				39.5				40.7				39.3
Diluted			40.9				39.5				40.7				39.3

5

ORTHOFIX MEDICAL INC.

Condensed Consolidated Balance Sheets

(U.S. Dollars, in thousands, except par value data)		June 30, 2026				December 31, 2025
		(Unaudited)
Assets
Current assets
Cash and cash equivalents		$	103,810			$	82,025
Restricted Cash			595				3,090
Accounts receivable, net of allowances of $10,563 and $8,308, respectively			135,818				135,746
Inventories			184,475				172,319
Prepaid expenses and other current assets			21,434				23,667
Total current assets			446,132				416,847
Property, plant, and equipment, net			130,757				129,399
Intangible assets, net			65,972				72,765
Goodwill			194,934				194,934
Other long-term assets			35,225				36,702
Total assets		$	873,020			$	850,647
Liabilities and shareholders’ equity
Current liabilities
Accounts payable		$	63,531			$	58,392
Current portion of finance lease liability			125				837
Other current liabilities			93,354				111,253
Total current liabilities			157,010				170,482
Long-term debt			221,591				157,391
Long-term portion of finance lease liability			12,903				17,060
Other long-term liabilities			52,336				55,677
Total liabilities			443,840				400,610
Contingencies
Shareholders’ equity
Common shares $0.10 par value; 100,000 shares authorized;     40,730 and 39,834 issued and outstanding as of June 30,     2026, and December 31, 2025, respectively			4,073				3,983
Additional paid-in capital			830,423				813,769
Accumulated deficit			(405,039	)			(368,333	)
Accumulated other comprehensive income (loss)			(277	)			618
Total shareholders’ equity			429,180				450,037
Total liabilities and shareholders’ equity		$	873,020			$	850,647

6

ORTHOFIX MEDICAL INC. Non-GAAP Financial Measures

The following tables present reconciliations of various financial measures calculated in accordance with U.S. generally accepted accounting principles (“GAAP”), to various non-GAAP financial measures that exclude (or in the case of free cash flow, include) items specified in the tables. The GAAP measures shown in the tables below represent the most comparable GAAP measure to the applicable non-GAAP measure(s) shown in the table. For further information regarding the nature of these exclusions, why the Company believes that these non-GAAP financial measures provide useful information to investors, the specific manner in which management uses these measures, and some of the limitations associated with the use of these measures, please refer to the Company’s current report on Form 8-K regarding this press release filed today with the SEC available on the SEC’s website at www.sec.gov and on the “Investors” page of the Company’s website at www.orthofix.com.

The Company’s non-GAAP financial measures for the three and six months ended June 30, 2026, and 2025, have been adjusted to eliminate the financial effects of the Company’s decision to discontinue its M6 product lines.

Adjusted Gross Profit and Adjusted Gross Margin

		Three Months Ended June 30,								Six Months Ended June 30,
(Unaudited, U.S. Dollars, in thousands)		2026				2025				2026				2025
Gross profit		$	149,707			$	139,533			$	289,253			$	261,152
Share-based compensation and long-term incentive plan expense			462				467				793				929
SeaSpine merger-related costs			225				4,341				(303	)			4,941
Restructuring costs and impairments related to M6 product lines			217				2,791				(220	)			13,710
Gross profit attributable to M6 product line operations			(53	)			(1,639	)			(295	)			(2,545	)
Strategic investments			—				43				—				56
Amortization/depreciation of acquired long-lived assets			108				351				285				664
Employee transition costs			593				—				593				—
Adjusted gross profit		$	151,259			$	145,887			$	290,106			$	278,907
Adjusted gross margin as a percentage of reported net sales			71.7	%			71.8	%			71.2	%			70.3	%
Adjusted gross margin as a percentage of pro forma net sales			71.7	%			72.7	%			71.2	%			71.5	%

7

Adjusted EBITDA

		Three Months Ended June 30,								Six Months Ended June 30,
(Unaudited, U.S. Dollars, in thousands)		2026				2025				2026				2025
Net loss		$	(15,798	)		$	(14,081	)		$	(36,706	)		$	(67,175	)
Income tax expense (benefit)			801				(141	)			875				819
Interest expense, net			6,085				3,950				11,749				8,456
Depreciation and amortization			13,273				16,871				26,766				51,302
Share-based compensation and long-term incentive plan expense			7,945				7,824				14,583				14,293
Foreign exchange impact			746				(2,751	)			1,646				(3,795	)
SeaSpine merger-related costs			572				4,886				503				6,017
Restructuring costs and impairments related to M6 product lines			217				3,651				(220	)			13,531
Operating losses attributable to M6 product lines			868				(297	)			1,558				1,949
Strategic investments			634				353				1,584				3,867
Acquisition-related fair value adjustments			868				(763	)			1,618				(1,373	)
Interest and loss on investments			—				(31	)			(16	)			(31	)
Litigation and investigation costs			2,185				4,029				5,101				7,071
Employee retention credit			—				(2,854	)			(951	)			(2,854	)
Employee transition costs			1,742				—				1,742				—
Adjusted EBITDA		$	20,138			$	20,646			$	29,832			$	32,077
Adjusted EBITDA as a percentage of reported net sales			9.5	%			10.2	%			7.3	%			8.1	%
Adjusted EBITDA as a percentage of pro forma net sales			9.6	%			10.3	%			7.3	%			8.2	%

Adjusted Net Income (Loss)

		Three Months Ended June 30,								Six Months Ended June 30,
(Unaudited, U.S. Dollars, in thousands)		2026				2025				2026				2025
Net loss		$	(15,798	)		$	(14,081	)		$	(36,706	)		$	(67,175	)
Share-based compensation and long-term incentive plan expense			7,945				7,824				14,583				14,293
Foreign exchange impact			746				(2,751	)			1,646				(3,795	)
SeaSpine merger-related costs			574				7,786				591				9,260
Restructuring costs and impairments related to M6 product lines			176				4,257				(448	)			34,461
Operating losses attributable to M6 product lines			1,006				(766	)			1,922				1,922
Strategic investments			637				364				1,590				3,907
Acquisition-related fair value adjustments			868				(761	)			1,618				(1,371	)
Amortization/depreciation of acquired long-lived assets			3,107				4,221				6,285				8,853
Litigation and investigation costs			2,185				4,029				5,101				7,071
Interest and loss on investments			—				(31	)			(16	)			(31	)
Employee retention credit			—				(3,616	)			(1,135	)			(3,616	)
Employee transition costs			1,742				—				1,742				—
Long-term income tax rate adjustment			(316	)			(1,915	)			1,534				(468	)
Adjusted net income (loss)		$	2,872			$	4,560			$	(1,693	)		$	3,311

8

Cash Flow and Free Cash Flow

		Six Months Ended June 30,
(Unaudited, U.S. Dollars, in thousands)		2026				2025
Net cash used in operating activities		$	(23,834	)		$	(6,752	)
Net cash used in investing activities			(23,162	)			(13,833	)
Net cash provided by financing activities			66,421				1,989
Effect of exchange rate changes on cash			(135	)			1,547
Net change in cash and cash equivalents		$	19,290			$	(17,049	)

		Six Months Ended June 30,
(Unaudited, U.S. Dollars, in thousands)		2026				2025
Net cash used in operating activities		$	(23,834	)		$	(6,752	)
Capital expenditures			(23,308	)			(13,845	)
Free cash flow		$	(47,142	)		$	(20,597	)

Reconciliation of Non-GAAP Financial Measures to Reported Operating Expenses

		Three Months Ended June 30,								Six Months Ended June 30,
(Unaudited, U.S. Dollars, in thousands)		2026				2025				2026				2025
Sales, general, and administrative		$	138,030			$	136,493			$	272,941			$	269,474
Reconciling items impacting sales, general, and administrative:
SeaSpine merger-related costs			(270	)			(3,384	)			(756	)			(4,142	)
Restructuring costs and impairments related to M6 product lines			41				(1,393	)			228				(4,729	)
Sales, general, and administrative expense attributable to M6 product lines			(636	)			(243	)			(1,685	)			(2,631	)
Strategic investments			(633	)			(194	)			(1,581	)			(1,741	)
Amortization/depreciation of acquired long-lived assets			—				—				—				(60	)
Litigation and investigation costs			(2,185	)			(3,579	)			(5,101	)			(6,621	)
Employee transition costs			(1,148	)			—				(1,148	)			—
Sales, general, and administrative expense, as adjusted		$	133,199			$	127,700			$	262,898			$	249,550
As a percentage of reported net sales			63.1	%			62.9	%			64.5	%			62.9	%
As a percentage of pro forma net sales			63.2	%			63.6	%			64.5	%			64.0	%

		Three Months Ended June 30,								Six Months Ended June 30,
(Unaudited, U.S. Dollars, in thousands)		2026				2025				2026				2025
Research and development expense, as reported		$	15,944			$	15,934			$	31,264			$	35,700
Reconciling items impacting research and development:
SeaSpine merger-related costs			(80	)			(62	)			(139	)			(178	)
Restructuring costs and impairments related to M6 product lines			—				(77	)			—				(1,929	)
Research and development expense attributable to M6 product lines			(413	)			(602	)			(659	)			(1,794	)
Strategic investments			(3	)			(127	)			(8	)			(2,110	)
Litigation and investigation costs			—				(450	)			—				(450	)
Research and development expense, as adjusted		$	15,448			$	14,616			$	30,458			$	29,239
As a percentage of reported net sales			7.3	%			7.2	%			7.5	%			7.4	%
As a percentage of pro forma net sales			7.3	%			7.3	%			7.5	%			7.5	%

9

Reconciliations of Non-GAAP Financial Measures to Reported Non-Operating (Income) Expense

		Three Months Ended June 30,								Six Months Ended June 30,
(Unaudited, U.S. Dollars, in thousands)		2026				2025				2026				2025
Non-operating (income) expense		$	6,863			$	(1,780	)		$	13,261			$	1,480
Reconciling items impacting non-operating expense:
Restructuring costs and impairments related to M6 product lines			—				3				—				3
Losses (income) attributable to M6 product lines			(12	)			(26	)			126				(41	)
Foreign exchange impact			(746	)			2,751				(1,646	)			3,795
Interest and loss on investments			—				31				16				31
Employee retention credit			—				3,617				1,135				3,617
Non-operating expense, as adjusted		$	6,105			$	4,596			$	12,892			$	8,885
As a percentage of reported net sales			2.9	%			2.3	%			3.2	%			2.2	%
As a percentage of pro forma net sales			2.9	%			2.3	%			3.2	%			2.3	%

Source

Orthofix Medical Inc.

###

10

Drive Profitable Growth Investor Presentation August 2026

2 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 current beliefs, assumptions, intentions, plans, expectations, estimates, forecasts and projections. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “projects,” “intends,” “predicts,” “potential,” “positioned,” “deliver,” or “continue” or other comparable terminology. Forward-looking statements in this presentation include the Company's expectations regarding net sales, adjusted EBITDA, and free cash flow for the year ended December 31, 2026. Forward-looking statements are not guarantees of our future performance, are based on our current expectations and assumptions regarding our business, the economy and other future conditions, and are subject to risks, uncertainties and changes in circumstances that are difficult to predict, including the risks described in Part I, Item 1A under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025 and in Part II, Item 1A under the heading Risk Factors in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2026. Factors that could cause future results to differ from those expressed by forward-looking statements include, but are not limited to, (i) our ability to maintain operations to support our customers and patients in the near-term and to capitalize on future growth opportunities, (ii) risks associated with acceptance of surgical products and procedures by surgeons and hospitals, (iii) development and acceptance of new products or product enhancements, (iv) clinical and statistical verification of the benefits achieved via the use of our products, (v) our ability to adequately manage inventory, (vi) our ability to successfully optimize our commercial channels, (vii) our success in defending legal proceedings brought against us, (viii) the impact of changes by third-party payers to reimbursement rates for our products, and (ix) the other risks and uncertainties more fully described in our periodic filings with the Securities and Exchange Commission (the “SEC”). As a result of these various risks, our actual outcomes and results may differ materially from those expressed in these forward-looking statements. Further, any forward-looking statement speaks only as of the date hereof, unless it is specifically otherwise stated to be made as of a different date. The Company undertakes no obligation to update, and expressly disclaims any duty to update, its forward-looking statements, whether as a result of circumstances or events that arise after the date hereof, new information, or otherwise, except as required by law. The Company is unable to provide expectations of GAAP net income (loss), the closest comparable GAAP measures to adjusted EBITDA (which is a non-GAAP measure), on a forward-looking basis because the Company is unable to predict, without unreasonable efforts, the ultimate outcome of matters (including acquisition-related expenses, accounting fair value adjustments, and other such items) that will determine the quantitative amount of the items excluded in calculating adjusted EBITDA, which items are further described in the reconciliation tables and related descriptions in this presentation. These items are uncertain, depend on various factors, and could be material to the Company’s results computed in accordance with GAAP.

3 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 period over period, analyze the underlying business trends, assess performance relative to competitors and establish operational objectives. ​ Management believes it is important to provide investors with the same non-GAAP metrics it uses to evaluate the performance and underlying trends of the Company’s business operations to facilitate comparisons to its historical operating results and evaluate the effectiveness of its operating strategies. Disclosure of these non-GAAP financial measures also facilitates comparisons of the Company’s underlying operating performance with other companies in the industry that also supplement their GAAP results with non-GAAP financial measures.​ Unless noted otherwise, full-year guidance is based on the current foreign currency exchange rates and does not take into account any additional potential exchange rate changes that may occur this year. These non-GAAP financial measures should not be considered in isolation from, or as replacements for, the most directly comparable GAAP financial measures, as these measures are not prepared in accordance with U.S. GAAP.​ Reconciliations between GAAP and non‐GAAP results are included at the end of this presentation and represent the most comparable GAAP measure(s) to the applicable non-GAAP measure(s) shown in the table. For further information regarding the nature of these exclusions, why the Company believes that these non-GAAP financial measures provide useful information to investors, the specific manner in which management uses these measures, and some of the limitations associated with the use of these measures, please refer to the Company’s current report on Form 8-K regarding its second quarter 2026 press release filed on August 5, 2026 with the SEC and available on the SEC's website at www.sec.gov and on the “Investors” page of the Company’s website at www.orthofix.com. The Company’s non-GAAP financial measures for the three and six months ended June 30, 2026, and 2025, have been adjusted to eliminate the financial effects of the Company’s decision to discontinue its M6 product lines. Amounts may not add due to rounding.​

4 Executive Summary The Orthofix Investment Thesis 01 ~$829M TTM pro forma net sales: ~$16B addressable market; only musculoskeletal pure-play spanning spine, bone stimulation, biologics, limb reconstruction, and zero-radiation navigation 02 Improving commercial momentum: Strengthening U.S. distributor network and enhancing sales force productivity; greater visibility and consistency across key growth platforms 03 Proprietary technology moat: 7D FLASH is the world’s only zero-radiation spine navigation system (97.8% radiation reduction, 94% faster than intraoperative CT-based systems) 04 Margin discipline converging on profitability: ~72% TTM pro forma adjusted gross margin; 2026 guidance of $845M–$855M net sales and $95M–$98M adjusted EBITDA 05 Driving toward positive free cash flow: FCF improved from –$108M (2023) to near breakeven (2025), with continued progress driven by EBITDA growth and working capital efficiency ~$829M TTM Pro Forma Net Sales ~$16B Addressable Market 71.5% TTM Pro Forma Adj. Gross Margin Double-Digit Global Net Sales Growth in Limb Reconstruction and Spine Fixation (Q2 2026) TTM as of 6/30/2026. Excludes discontinued M6 lines. 2026 guidance as of 8/5/2026; presented on a pro forma, constant currency basis. Double-digit global net sales growth in Q2 2026 is on a YoY constant currency basis.

Transforming a ~$16B Market Opportunity into Profitable, Scalable Growth Orthofix At-A-Glance 5

Differentiated Musculoskeletal Platform Driving Toward Profitability NASDAQ: OFIX | Musculoskeletal Pure-Play | ~$16B TAM ~$829M TTM Pro Forma Net Sales ~$84M TTM Pro Forma Adj. EBITDA ~71.5% TTM Pro Forma Adj. Gross Margin $477M Market Capitalization Platform Advantage Three growth segments across musculoskeletal care: Spinal Implants, Biologics and Enabling Technologies Therapeutic Solutions Limb Reconstruction Portfolio breadth + only zero-radiation navigation system 7D FLASH™ Commercial Momentum Cross-sell leverage over 3 segments Focused commercial strategy via established distributors Segment-level traction Double-digit YoY improvement in global Spine Fixation and Limb Reconstruction Favorable industry tailwinds Aging population and evolving standards of care Financial Path 2026E: $845M–$855M net sales, $95M–$98M adj. EBITDA FCF progression underway: Cash usage –$108M (2023) TTM as of 6/30/2026. Excludes discontinued M6 lines. Market cap as of 7/31/2026. 2026 guidance as of 8/5/2026; presented on a pro forma, constant currency basis. Margin discipline and commercial focus converging on clear path to positive free cash flow TTM Net Sales Near breakeven FCF (2025) Progressing toward Positive FCF Post-merger: focused model, margin discipline (2024)

Clear Strategic Pathway with Multiple Drivers for Value Creation Key Focus Areas & Priorities Innovate to drive growth and strengthen leading positions Future upside from high-impact new product launches Leverage technologies and sales channels across complementary product segments Create new entry points, cross-selling opportunities and stickier surgeon relationships Rigorous allocation of resources to high-return opportunities Focus on process and gross margin improvements Improved financial strength with profitability and term loan flexibility Invest in DifferentiatedTechnologies WhereOrthofix Can Win and Lead Capitalize on Multiple Access Points to Grow at Above-Market Rates Operate with Discipline for Margin Expansion Build Financial Resilience and Unlock Strong, Consistent Cash Flow Strategy is Driving Long-Term Profitable Growth

Platform Advantage and Commercial Momentum Innovation and Market Leadership Across the Musculoskeletal Continuum 8

Two Growth Pillars – One Integrated Performance Engine Therapeutic Solutions (formerly Bone Growth Therapies) Combined portfolio with Biologics to target trauma surgeons Combine with select Limb Reconstruction products Expanding domestically through legacy SeaSpine distribution and U.S. Limb Reconstruction channels Biologics Expand cross-selling with U.S. Limb Reconstruction channels Spine Maximize procedural selling opportunity with Biologics, Limb Reconstruction, and Enabling Technologies Limb Reconstruction Maximize procedural selling opportunity with Biologics, Limb Reconstruction, and Enabling Technologies Enabling Technologies (ET) Focus on 7D equipment placements to drive recurring implant usage Leverage investment and drive synergistic approach across the portfolio

Comprehensive Portfolio of Transformative Solutions Improved Clinical Efficiencies and Economic Value with 7D Enabling Technology EstablishedDistribution Channels and Extensive Global Commercial Reach Large Addressable Markets with High-Growth Opportunities Across Continuum of Care World-Class, Visionary Leadership Team with Deep Sector Expertise Expanding and Deepening Customer Relationships 10 Capitalizing on Clear Competitive Advantages

Total Addressable Market 2026 – 2028 Expected Market Growth Rate Spinal Implants ~$10.1B ~3% – 4% Therapeutic Solutions (formerly Bone Growth Therapies) ~$0.6B ~2% – 3% Biologics ~$2.1B ~2% – 3% Limb Reconstruction (formerly Orthopedics) ~$2.6B ~5% – 6% Enabling Technologies ~$0.4B ~10% – 12% Addressable Markets ~$16B within Full Continuum of Care Well-Positioned for Favorable Macro Trends Aging Population Digital Healthcare AI and Machine Learning Enabling Technology Advancement Evolving Standards of Care

Capability Orthofix ~$829M TTM Medtronic ~$5.3B Cranial & Spine Globus / NuVasive ~$2.5B Spine Alphatec ~$764M FY2025 Stryker ~$10.9B Ortho Enovis ~$2.2B FY2025 Spinal Implants ~$10.1B TAM Growing Share Global Spine Fixation +10% CC; deformity/cervical focus; Top 30 U.S. distributors ~80% of spine fixation sales #1 Global ~$3.2B spine rev; AiBLE ecosystem; Mazor X robotics #2 Global ~$2.5B combined; ExcelsiusGPS robotics; MIS leader Fastest Growing $764M FY25 +25%; lateral/deformity focus Divested Implants Sold spine implants to VB Spine; retained Mako Spine tech No Dedicated Spine Joint reconstruction focus; no spine implant business Therapeutic Solutions (Bone Growth Stimulation) ~$0.6B TAM #1 Market Position 1.4M+ devices prescribed; most indications; PEMF since 1986 No Presence Does not compete in this segment No Presence Does not compete in this segment No Presence Does not compete in this segment No Presence Does not compete in this segment P&R Segment Bone stim in Prevention & Recovery; mid-high single-digit growth Biologics ~$2.1B TAM #2 Cellular Allograft Trinity Elite; #3 DBM; new OsteoCove synthetic launch Market Leader Infuse BMP dominates growth factors; broad portfolio Selective Focus Integrated biologics with spine implant pull-through Attachment Only 38% biologics attachment rate; not standalone offering Limited Presence Select partnerships; not a core focus area No Presence Does not compete in this segment Limb Reconstruction ~$2.6B TAM Proven Leader TL-HEX, Fitbone, TrueLok Elevate; 4 pillars across deformity, limb lengthening, fracture, preservation No Presence Does not compete in this segment Selective Focus Market leadership in limb lengthening products No Presence Does not compete in this segment Selective Focus Strong in trauma and extremities, external fixation; ~$3.95B Trauma & Extremities Revenue Limited Presence Extremities double-digit growth; external fixation Enabling Technologies ~$0.4B TAM Only Zero-Radiation 7D FLASH machine-vision IGS; 97.8% radiation reduction¹; 94% faster1 AiBLE Ecosystem Mazor X Stealth robotics; O-arm imaging; StealthStation Nav ExcelsiusGPS Robotic-assisted nav; strong installed base growth EOS Insight Imaging/informatics platform; 7% global installed base growth Mako Robotics Mako robotic-assisted surgery for joints; not spine-focused ARVIS AR Navigation Augmented reality for joints; not spine-focused Cross-Sell / Portfolio Integration Unique Advantage 7D drives spine implant pull-through; biologics + BGS + limb recon cross-sell across 3 segments Broad But Diffuse Massive conglomerate; spine is one of many divisions; limited cross-sell focus Spine-Focused Deep spine-only integration; implants + robotics; limited adjacent categories Spine-Only Ecosystem Deep spine integration via EOS; narrow but focused Joint-Focused Mako robotics centered on joints; spine divested Joint-Focused Recon + P&R integration; no spine cross-sell leverage Only Musculoskeletal Pure-Play Spanning Spine + Bone Stimulation + Limb Reconstruction + Biologics + Zero-Radiation Navigation IGS = Image-Guided Surgery Nav = Navigation PEMF = Pulsed ElectroMagnetic Field DBM = Demineralized Bone Matrix MIS = Minimally-Invasive Surgery 1 97.8% reduction in intraoperative radiation during adult degenerative spinal fusions; 94% faster than intraoperative CT-based systems. Sources: Company filings; iData Research; SmartTrak; ORTHOWORLD Spine Market Report (Apr 2026); SPINEMarketGroup. Revenue figures reflect most recent available reporting periods. TAM = 2025 Total Addressable Market estimates. Solely for convenience, our trademarks and trade names in this presentation are referred to without the ® and ™ symbols, but such references should not be construed as an indicator that we will not assert, to the fullest extent under applicable law, our rights thereto.. Competitive Positioning Across ~$16B Addressable Market Differentiated portfolio spanning spine, biologics, bone stimulation, limb reconstruction, and enabling technologies

Spinal Implants Driving Innovation and Taking Share Select Product Examples Market Overview Sales channel optimization for growth, cross-selling, and OPEX leverage Pull through from lateral, cervical, and 7D earnouts Best-in-class implants to improve patient outcomes Interbody Cervical Thoracolumbar Fixation NorthStar™ OCT Mariner™ Deformity WaveForm™ (3D Printed) Explorer™ (Expandable) Reef™ (IBDs) ~$10.1BTAM1 Thoracolumbar Fixation Significant share capture opportunity ~3% – 4% market growth rate (2026 – 2028) Interbody Significant share capture opportunity ~3% – 4% market growth rate (2026 – 2028) Cervical Significant share capture opportunity ~3% – 4% market growth rate (2026 – 2028) OFIX Growth Drivers Shoreline™ ACS Wayfinder™ Phoenix™ MIS Meridian™ 1 2025 U.S. Total Addressable Market. Sources: iData Research Inc.; U.S. Market Report for Spinal Implants and VCF; SmartTrak US Spine Market Report; Internal OFIX estimates Supporting Clinicians and Patients through Continuous Innovation of Procedure Solutions Comprehensive, best-in-class spinal implants designed to work in concert with 7D Navigation and biologics to support improved clinical outcomes Focus on deformity correction Proven expertise in cervical fixation and material science

AccelStim™ SpinalStim™ PhysioStim™ CervicalStim™ Complex Foot & Ankle Reconstruction and Fracture Management Therapeutic Solutions (formerly Bone Growth Therapies) Maximizing #1 Market Position Exceeding Market Growth Rate through Innovation and Expansion Safe, effective, non-surgical solution to promote bone healing in fracture management and high-risk spine fusions Most comprehensive portfolio of bone growth stimulation devices Most indications on the market to aid in bone healing solutions Select Product Examples #1 prescribed bone growth stimulator First to offer free recycling for patients to properly dispose of their devices PEMF technology approved since 1986 Prescribed devices 1,400,000+ Spine Fusion Therapy Market Overview Procedural selling focused on cross-selling with limb reconstruction and spine New market channels with established sales representatives AccelStim growth to penetrate Fracture market ~$0.6BTAM1 Spine #1 Position ~2% – 3% market growth rate (2026 – 2028) Fracture #2 Position ~2% – 3% market growth rate (2026 – 2028) OFIX Growth Drivers Note: PEMF = Pulsed Electromagnetic Field. 1 2025 U.S. Total Addressable Market.

Biologics Renewed Focus on Advancing our Portfolio Strategically Introducing New Products to Capture Additional Market Share Full spectrum of biologic solutions to enhance fusion process and promote bone repair and growth Provide industry leading, best-in-class products in each of the major bone grafting categories Select Product Examples Demineralized Bone Matrix OsteoStrand™ Plus Synthetic Procedure-Specific OsteoCove™ OsteoBallast™ Market Overview Opportunities in current portfolio and spine Product innovation with clinical research Disc regeneration, channel expansion options ~$2.1BTAM1 Synthetic Significant share capture opportunity ~2% – 3% market growth rate (2026 – 2028) Cellular Allograft #2 Position ~2% – 3% market growth rate (2026 – 2028) OFIX Growth Drivers Trinity Elite™ Cellular Allograft Growth Factors, Other Do not participate 1 2025 Global Total Addressable Market, including Growth Factors. Demineralized Bone Matrix #3 Position ~2% – 3% market growth rate (2026 – 2028)

Limb Reconstruction (formerly Orthopedics) Leading the Growth Unique portfolio of limb reconstruction solutions, addressing the most challenging orthopedic conditions in patients of all ages Proven Leader with Room to Grow through Innovation of Hardware and Digital Solutions Enabling Technologies - OrthoNext™ 1 2025 Global Total Addressable Market. Sources: iData Research Inc. 2021; Berkyl Global Market Analysis 2020; SmartTrak 2024; Orthoworld Industry Annual Report, 2024; Acuity MD Data, 2025; Grandview Research, 2023; US Bone Transport Procedure Volume Analysis, 2015; CDC National Diabetes Statistics Report, 2022; Brownrigg, et al. Evidence-based Management of PAD & the Diabetic Foot, 2013. 45(6), 673-681; Behroozian et al. Art Thro Vasc Biology, 2020. 40(3). Select Product Examples Galaxy Gemini™ ComplexFracture Management Fitbone™ Limb Lengthening TL-HEX™ Extremity Deformity Correction TrueLok™ Elevate Market Overview Accelerating U.S. growth and expanding position Global sales channel optimization through execution and focused distribution New, unique product platforms with next-gen digital capabilities OFIX Growth Drivers ~$2.6BTAM1 Complex Fracture Management ~3% – 4% market growth rate (2026 – 2028) Limb Lengthening ~9% market growth rate (2026 – 2028) Limb Preservation ~5% market growth rate (2026-2028) Extremity Deformity Correction ~5% – 6% market growth rate (2026 – 2028) Limb Preservation *Significant share capture opportunity across all 4 pillars

Complex Fracture Management Limb Lengthening Limb Preservation Extremity Deformity Correction LIMB RECON Industry leader with a unique portfolio of limb reconstruction solutions, addressing the most challenging conditions in patients of all ages ENABLING TECHNOLOGIES ENABLING TECHNOLOGIES 17 Four Focus Areas – Limb Reconstruction

Tibial cortex transverse transport: Historical evolution, clinical applications, and future directions-Schroeder, et al. Foot & Ankle Surgery: Techniques, Reports & Cases, Vol 5, Issue 3, 100513 © 2025 The Author(s). Published by Elsevier Inc. on behalf of American College of Foot and Ankle Surgeons. Orthofix has not made any changes to the image above and use of this image is in no way an endorsement of the Journal or Authors Supporting surgeon-led correction of complex bony and soft-tissue defects Innovation Spotlight: TrueLok Elevate System The TrueLok Elevate device has not been approved by the FDA for treatment of ulcers and the safety and effectiveness of the TrueLok Elevate for treatment of ulcers has not been established. Minimally invasive, quick application, reproducible technique Versatile design Sterile, ready to use components 18

Patient Case Study – What Limb Reconstruction Means for Justin Background Justin, a 6'9" newlywed, suffered from severe genu valgum (knock‑knees) that caused chronic pain and limited mobility. As he prepared for fatherhood, he feared becoming disabled without corrective surgery. OFIX Unique Solution Under the care of Dr. William Terrell, the team elected to treat both legs simultaneously TL-HEX External Fixation System used on tibias for gradual, precise realignment Life is much better than it was before the surgery. I am almost back to 100% to what I should have been before. – Justin Click here for Justin’s story Before After Result / Outcomes Successful Orthofix-supported deformity correction procedure Restoration of patient mobility Strengthened customer loyalty

Enabling Technologies Empowering Excellence with Real-Time, Integrated Smart Technologies Seizing Significant Opportunity to Leverage Technology and Expand Share in Spine FLASH™ Navigation with 7D Technology, world’s leading zero-radiation1 spine image-guided surgery system Allows surgeons to perform fast, cost-effective, and radiation-free surgery Pacesetting leader for open spine procedures and deformity correction Open and Percutaneous Spine Modules2 Market Overview OFIX Growth Drivers 7D deployments through commercial financing structures and product pull through Product integration with spinal implant portfolio Digital ecosystem expansion (pre-op planning, intra-op navigation, and post-op care) ~$0.4BTAM3 Spinal Navigation Significant share capture opportunity ~10% – 12% market growth rate (2026 – 2028) FLASH Navigation with 7D Technology Product Example Significant Focus in Spine 1 Based on a pre-op CT or MRI, no intra-op radiation is required using Open Spine Module, eliminating exposure to surgeons, staff, and patients. Intra-op radiation is required for Percutaneous Module. 2 ~40% of U.S. installed base has cranial module. 3 Global Total Addressable Market.

Innovation Spotlight – FLASH Navigation with 7D Technology Technology Differentiates Portfolio While Enabling Service to Full Continuum of Surgical Care 97.8% reduction in intraoperative radiation during adult degenerative spinal fusions1* Revolutionizing Spinal Navigation Created Meaningful Advantages with FLASH Navigation with 7D Technology 61% reduction in intraoperative radiation during complex pediatric deformity spinal fusions2* 98.8% accurate with no pedicle breach1* 94% faster than intraoperative CT-based systems3* 63.6 minutes saved per case4* Flexible Selling Models to Meet Unique Needs of Facility First and only image-guided surgery (IGS) system featuring 7D’s machine-vision technology, allowing surgeons to perform fast, cost-effective, radiation-free IGS Capital Purchase Lease “Earnout” through purchase of spine hardware and/or biologics; creating recurring revenue stream and stronger customer relationships Voyager Earnout Program *Not an Orthofix sponsored clinical study. 1 Malham GM, Munday NR. Comparison of novel machine vision spinal image guidance system with existing 3D fluoroscopy-based navigation system: a randomized prospective study. Spine J. 2022 Apr;22(4):561-569. doi: 10.1016/j.spinee.2021.10.002. Epub 2021 Oct 16. PMID: 34666179. 2 Comstock, Christopher P. MD; Wait, Eric MD. Novel Machine Vision Image Guidance System Significantly Reduces Procedural Time and Radiation Exposure Compared With 2-dimensional Fluoroscopy-based Guidance in Pediatric Deformity Surgery. Journal of Pediatric Orthopaedics ():10.1097/BPO.0000000000002377, March 6, 2023. | DOI: 10.1097/ BPO.0000000000002377 3 Jakubovic R, Guha D, Gupta S, et al. High speed, high density intraoperative 3D optical topographical imaging with efficient registration to MRI and CT for craniospinal surgical navigation. Sci Rep. 2018;8:14894. doi:10.1038/s41598-018-32424-z. 4 Lim KBL, Yeo ISX, Ng SWL, Pan WJ, Lee NKL. The machine-vision image guided surgery system reduces fluoroscopy time, ionizing radiation and intraoperative blood loss in posterior spinal fusion for scoliosis. Eur Spine J. 2023 Jul 10. doi: 10.1007/s00586-023-07848-5. Epub ahead of print. PMID: 37428212.Stewart G. Visible Light Navigation in Spine Surgery: My Experience With My First 150 Cases. Int J Spine Surg. 2022 Oct;16(S2):S28-S36. doi: 10.14444/8274. Epub 2022 Aug 5. PMID: 36456113; PMCID: PMC9808787.

Q2 2026 Results Executing Through Transition while Gaining Visibility and Commercial Momentum 22

Q2 2026 Results Summary Q2 Total Net Sales: $210.9M5% YoY pro forma, constant currency growth Q2 Non-GAAP Adjusted EBITDA: $20.1M 10% of pro forma net sales vs $20.6M in Q2 2025; 10% of pro forma net sales Q2 Non-GAAP Adjusted Gross Margin: 71.7% vs 72.7% of pro forma net sales in Q2 2025  Q2 Non-GAAP SG&A Expense: $133.2M 63% of pro forma net sales vs $127.7M in Q2 2025; 64% of pro forma net sales Q2 Non-GAAP R&D Expense: $15.4M 7% of pro forma net sales vs $14.6M in Q2 2025; 7% of pro forma net sales Q2 2026 Total Net Sales $210.9M +5% YoY* Therapeutic Solutions $64.2M +2.5% Global Limb Reconstruction $37.7M +11.0%* Global Spinal Implants, Biologics, and Enabling Technologies $109. 0M +4.0%* International Spinal Implants, Biologics & Enabling Technologies  $13.2M +64.1%* U.S. Spinal Implants, Biologics & Enabling Technologies  $95.8M -1.0%* 88% 12% * YoY growth for Total Net Sales and Global and International Spinal Implants, Biologics, and Enabling Technologies is on a pro forma, constant currency basis compared to Q2 2025; U.S. Spinal Implants, Biologics and Enabling Technologies is on a pro forma basis compared to Q2 2025. YoY growth for Global Limb Reconstruction is on a constant currency basis compared to Q2 2025; Pro forma excludes discontinued M6 lines. 23

What We Said vs. What We Delivered Q2 2026: Executing through transition while gaining visibility and commercial momentum What We Said What We Delivered (Q2 2026) Net Sales Growth Committed to above-market growth with differentiated technology across ~$16B addressable market $210.9M Total Net Sales +5% YoY CC* Global Spine Fixation and Global Limb Reconstruction each delivered double-digit YoY CC growth Biologics stabilized and began to regain momentum Therapeutic Solutions grew 3% YoY despite Medicare reimbursement pressure during part of Q2 Margin Expansion Drive operational discipline for margin expansion with focus on gross margin improvement Rigorous allocation of resources to high-return opportunities Adj. EBITDA $20.1M 10% margin Resource alignment and cost actions underway support path toward improved profitability 71.7% Adj. Gross Margin Decreased from 72.7% in Q2 2025, reflecting unfavorable geographic mix Commercial Execution Optimize commercial channels for growth, cross-selling, operating leverage Distributor optimization efforts are improving consistency and focus across priority growth platforms Improving execution, gaining visibility, and driving consistency across priority growth platforms Global Spine Fixation net sales grew 10% YoY constant-currency, supported by distributor optimization efforts, new account expansion, and strong international demand, including timing of certain international distributor orders Global Limb Reconstruction net sales grew 11% YoY constant-currency, driven by strong international momentum and demand for differentiated product families 24 CC = Constant Currency YoY = Year-Over-Year * Net sales growth is on pro forma, constant currency basis and compared to same prior-year quarter . Commercial momentum, margin expansion, and greater visibility reinforce confidence in the path toward profitable growth

SPINAL SOLUTIONS Global Spine Fixation net sales +10%* New account expansion from U.S. commercial channel actions and timing of international distributor orders U.S. full commercial launch of VIRATA™ Spinal Fixation System expected in Q4’26 THERAPEUTIC SOLUTIONS Net sales +3% Underlying demand remained resilient despite reimbursement pressure that affected part of Q2 AccelStim™ Device continuing to drive fracture market growth Q2 2026 Business Segment Highlights 25 * Net sales growth for Global Spine Fixation and Global Limb Reconstruction is on a constant currency basis compared to same prior-year period. LIMB RECONSTRUCTION Global Limb Recon net sales +11%* Continued acceleration in the worldwide adoption of TRUELOK™ Elevate System and FITBONE™ Bone Transport System

Revising 2026 Net Sales and Adjusted EBITDA Guidance1 $845M –$855M Net Sales $95M –$98M Adj. EBITDA Net sales outlook assumes: Improving performance in priority growth areas, Medicare reimbursement restoration for bone growth stimulators, and One-time European distributor inventory purchases related to MDR transition, Partially offset by continued softness among smaller U.S. Spine distributors. Adj. EBITDA outlook assumes: Restored Medicare reimbursement, Cost optimization initiatives, and Continued operating discipline 1 As of 8/5/2026. Inclusion of this information in this presentation is not a confirmation or an update of, and should not be construed or otherwise assumed to reflect any confirmation or update of, that guidance by Orthofix leadership as of any date other than 8/5/2026. This guidance range is based on current foreign currency exchange rates and does not take into account any additional potential exchange rate changes that may occur this year. Prior guidance: Net Sales $838M–$848M Adj. EBITDA $90M–$93M

Financial Path Operational Excellence and Strategic Investment Converging on Strong Cash Generation 27

lp Looking Forward Accelerating Our Profitable Growth Engine Advancing Toward Our Goals for Consistent Above-Market Growth,Improved Profitability, and Positive Free Cash Flow Invest inDifferentiatedTechnologies in Areas Where We Can Win and Lead Innovation Capitalize on Multiple Access Points to Grow Business at Sustained, Above-Market Rates Operate with Discipline for Margin Expansion Build Financial Resilienceand Unlock Strong, Consistent Free Cash Flow 28

lp Investing in Differentiated Technologies Innovation Driving Growth and Strengthening Leading Market Positions Systematic Approach to Driving Innovation Rigorous allocation of resources to high-return opportunities Leverage technologies (7D, Biologics, Therapeutic Solutions) and sales channels (Spine, Limb Reconstruction) across complementary product segments Build enabling technology ecosystem using next-gen data, navigation and connected products for pre-, intra-, and post-op solutions Extensive expertise in intra-op surgical navigation creating accurate, efficient, and uninterrupted surgical workflow Continuum of musculoskeletal care integrated by Enabling Technologies Focal KPIs 1 Regular cadence of meaningful, high-impact new product launches 2 7% – 8% of salesinvested in R&D 3 Sustained sharecapture in U.S. Spine & U.S. Limb Reconstruction

Operating with Discipline for Margin Expansion Well-Developed Infrastructure in Place to Further Scale and Support Growth Our Approach to Operational Excellence Building culture of excellence and accountability through implementation of the High Performance Management System (HPMS) Focusing on “Vital Few” initiatives to enhance operational excellence and drive business performance Key levers to drive higher margins and profitability across Company include: Rigorous allocation of resources to high-return opportunities Gross margin improvement Process improvements

Building Financial Resilience to Unlock Strong, Consistent Free Cash Flow Driving Toward Positive Free Cash Flow Drop-through to EBITDA from incremental revenue Working Capital improvements Efficient Working Capital Management Reduction in Inventory Days on Hand (DOH)and Instrument Efficiency Continued improvement in Days Sales Outstanding (DSO) Near Breakeven For FY 2025

Capital Allocation Priorities Investing to drive future profitable growth 1 Organic Growth Reinvest in business; enhance commercial channel; target capital spend levels at ~5% of sales 2 Inorganic Growth Tuck-in M&A to enhance growth & margin profile, support category leadership 3 Capital Structure Debt paydown and fortify balance sheet 4 Return of Capital In the absence of value-creating opportunities 32

World-Class Leadership Team with Extensive Med Tech Expertise – Focused on Results Combining Deep Institutional Knowledge with Fresh Perspectives and Proven Approaches Massimo Calafiore President and Chief Executive Officer Patrick Fisher President, Global Biologics and Limb Reconstruction Julie Andrews Chief Financial Officer Year Joined: 2024 Years in Industry: 20+ Year Joined: 2024 Years in Industry: 25+ Year Joined: 2024 Years in Industry: 25+ Aviva McPherron President, Global Operations & Quality Lucas Vitale Chief People & Business Operations Officer Beau StandishPhD, PEng Chief EnablingTechnologies Officer Year Joined: 2023 Years in Industry: 15+ Year Joined: 2024 Years in Industry: 10+ Year Joined: 2024 Years in Industry: 20+ Andrés Cedrón Chief Legal Officer Jill Mason Chief Compliance & Risk Officer Julie Dewey Chief Investor Relations & Communications Officer Year Joined: 2024 Years in Industry: 15+ Year Joined: 2024 Years in Industry: 25+ Year Joined: 2015 Years in Industry: 15+ Jason Shallenberger President,Therapeutic Solutions Year Joined: 2005 Years in Industry: 20+

Investment Summary Catalysts and Upside Drivers 01 Near-term product catalysts: VIRATA Spinal Fixation System full commercial launch expected 4Q’26; above market U.S. limb reconstruction growth anticipated in 2H’26; OsteoCove synthetic graft gaining traction 02 Expanding technology ecosystem: 7D FLASH driving recurring implant pull-through via Voyager earnout program; digital platform spanning pre-op planning, intra-op navigation, and post-op care 03 Operational leverage ahead: distributor transitions largely complete; HPMS driving execution culture; gross margin improvement and process efficiency initiatives underway 04 Favorable macro tailwinds: aging population, evolving standards of care, AI/machine learning adoption, and enabling technology advancement across ~$16B market growing ~5% annually 05 Disciplined capital allocation: organic reinvestment at ~5% of sales; tuck-in M&A for category leadership; and ongoing cost optimization initiatives to improve profitability and cash generation

For additional information, please contact: Julie Dewey, IRC Chief IR & Communications Officer juliedewey@orthofix.com 209-613-6945 www.Orthofix.com NASDAQ: OFIX

Financial and Non-GAAP Reconciliation Tables Appendix 36

Q2 2026 GAAP to Adj. EBITDA Bridge Reported Adjustments to U.S. GAAP Adjusted Q2 2026 U.S. GAAP Results Foreign Exchange Impact Strategic Investments Impact of Discontinuation of M6 Product Lines SeaSpine Merger-Related costs Acquisition-Related Fair Value Adjustments Amortization / Depreciation of Acquired Long-Lived Assets Interest & Gain/(Loss) on Investments Litigation and Investigation Costs Employee Transition Costs Share-Based Compensation Expense and Long-Term Incentive Plan Expense Long-TermTax Rate Adjustment Q2 2026 Non-GAAP Results Net Sales $ 210.9 $ - $ - $ (0.1) $ - $ - $ - $ - $ - $ - $ -   $ 210.9 Cost of Sales 61.2 - (0.0) (0.2) (0.2) - (0.1) - - (0.6) (0.5)   59.6 Gross Profit 149.7 - 0.0 0.2 0.2 - 0.1 - - 0.6 0.5   151.3 Gross Margin 71.0%     71.7%         Sales, General, & Administrative 138.0 - (0.6) (0.6) (0.3) - - - (2.2) (1.1)   133.2 Research & Development 15.9 - (0.0) (0.4) (0.0) - - - - -   15.4 Acquisition-Related Amortization & Remeasurement 3.9 - - - - (0.9) (3.0) - - -   - Share-based Compensation Non-GAAP Adjustment -   (7.5)   (7.5) Operating Income (Loss) (8.1) - 0.6 1.2 0.5 0.9 3.1 - 2.2 1.7 7.9   10.1 -3.9%     4.8%         Interest Income (Expense), Net (6.1) - - 0.0 - - - - - - -   (6.1) Other Income (Expense), Net (0.8) 0.7 - 0.0 - - - - - - -   (0.0)         Income (Loss) Before Tax (15.0) 0.7 0.6 1.2 0.5 0.9 3.1 - 2.2 1.7 7.9   4.0 -7.1%     1.9%         Income Tax Expense (Benefit) (0.8) - - - - - - - - - - (0.3) (1.1) Effective Tax Rate -5.3%     28.0%         Net Income (Loss) $ (15.8) $ 0.7 $ 0.6 $ 1.2 $ 0.5 $ 0.9 $ 3.1 $ - $ 2.2 $ 1.7 $ 7.9 $ (0.3) $ 2.9 Net income (loss) as a % of net sales -7.5%     1.4%         EBITDA $ 4.4 $ 0.7 $ 0.6 $ 1.1 $ 0.5 $ 0.9 $ - $ - $ 2.2 $ 1.7 $ 7.9 $ - $ 20.1 EBITDA as a % of net sales 2.1%     9.6%                          

Net Sales by Major Product Category by Reporting Segment * Results above for each of Spinal Implants, Biologics, and Enabling Technologies; Global Spine; and pro forma net sales exclude the impact from discontinuation of the M6 product lines. Since pro forma net sales represent a non-GAAP measure, see the reconciliation above of the Company’s pro forma net sales to its reported figures under U.S. GAAP. The Company’s reported figures under U.S. GAAP represent each of the pro forma line items discussed above plus the impact from discontinuation of the M6 product lines.     Three Months Ended June 30,   (Unaudited, U.S. Dollars, in millions)   2026     2025     Change     ConstantCurrencyChange   Therapeutic Solutions   $ 64.2     $ 62.6       2.5 %     2.5 % Spinal Implants, Biologics and Enabling Technologies*     109.0       104.8       4.0 %     4.0 % Global Spine*     173.2       167.4       3.5 %     3.5 % Global Limb Reconstruction     37.7       33.3       13.2 %     11.0 % Pro forma net sales*     210.9       200.7       5.1 %     4.7 % Impact from discontinuation of M6 product lines     0.0       2.4       (97.4 %)     (97.5 %) Reported net sales   $ 210.9     $ 203.1       3.8 %     3.5 %

Condensed Consolidated Balance Sheets (U.S. Dollars, in thousands, except par value data)   June 30,2026     December 31,2025       (Unaudited)         Assets             Current assets             Cash and cash equivalents   $ 103,810     $ 82,025   Restricted Cash     595       3,090   Accounts receivable, net of allowances of $10,563 and $8,308, respectively     135,818       135,746   Inventories     184,475       172,319   Prepaid expenses and other current assets     21,434       23,667   Total current assets     446,132       416,847   Property, plant, and equipment, net     130,757       129,399   Intangible assets, net     65,972       72,765   Goodwill     194,934       194,934   Other long-term assets     35,225       36,702   Total assets   $ 873,020     $ 850,647   Liabilities and shareholders’ equity             Current liabilities             Accounts payable   $ 63,531     $ 58,392   Current portion of finance lease liability     125       837   Other current liabilities     93,354       111,253   Total current liabilities     157,010       170,482   Long-term debt     221,591       157,391   Long-term portion of finance lease liability     12,903       17,060   Other long-term liabilities     52,336       55,677   Total liabilities     443,840       400,610   Contingencies             Shareholders’ equity             Common shares $0.10 par value; 100,000 shares authorized; 40,730 and 39,834 issued and outstanding as of June 30, 2026, and December 31, 2025, respectively     4,073       3,983   Additional paid-in capital     830,423       813,769   Accumulated deficit     (405,039 )     (368,333 ) Accumulated other comprehensive income (loss)     (277 )     618   Total shareholders’ equity     429,180       450,037   Total liabilities and shareholders’ equity   $ 873,020     $ 850,647  

Condensed Consolidated Statements of Operations     Three Months Ended     Six Months Ended       June 30,     June 30,   (Unaudited, U.S. Dollars, in thousands, except share and per share data)   2026     2025     2026     2025   Net sales   $ 210,933     $ 203,121     $ 407,641     $ 396,767   Cost of sales     61,226       63,588       118,388       135,615   Gross profit     149,707       139,533       289,253       261,152   Sales, general, and administrative     138,030       136,493       272,941       269,474   Research and development     15,944       15,934       31,264       35,700   Acquisition-related amortization, impairment, and remeasurement     3,867       3,109       7,618       20,854   Operating loss     (8,134 )     (16,003 )     (22,570 )     (64,876 ) Interest expense, net     (6,085 )     (3,950 )     (11,749 )     (8,456 ) Other income (expense), net     (778 )     5,730       (1,512 )     6,976   Loss before income taxes     (14,997 )     (14,223 )     (35,831 )     (66,356 ) Income tax (expense) benefit     (801 )     142       (875 )     (819 ) Net loss   $ (15,798 )   $ (14,081 )   $ (36,706 )   $ (67,175 )                           Net loss per common share:                         Basic   $ (0.39 )   $ (0.36 )   $ (0.90 )   $ (1.71 ) Diluted     (0.39 )     (0.36 )     (0.90 )     (1.71 ) Weighted average number of common shares (in millions):                         Basic     40.9       39.5       40.7       39.3   Diluted     40.9       39.5       40.7       39.3  

Adjusted Gross Profit and Adjusted Gross Margin     Three Months Ended June 30,     Six Months Ended June 30,   (Unaudited, U.S. Dollars, in thousands)   2026     2025     2026     2025   Gross profit   $ 149,707     $ 139,533     $ 289,253     $ 261,152   Share-based compensation and long-term incentive plan expense     462       467       793       929   SeaSpine merger-related costs     225       4,341       (303 )     4,941   Restructuring costs and impairments related to M6 product lines     217       2,791       (220 )     13,710   Gross profit attributable to M6 product line operations     (53 )     (1,639 )     (295 )     (2,545 ) Strategic investments     —       43       —       56   Amortization/depreciation of acquired long-lived assets     108       351       285       664   Employee transition costs     593       —       593       —   Adjusted gross profit   $ 151,259     $ 145,887     $ 290,106     $ 278,907   Adjusted gross margin as a percentage of reported net sales     71.7 %     71.8 %     71.2 %     70.3 % Adjusted gross margin as a percentage of pro forma net sales     71.7 %     72.7 %     71.2 %     71.5 %

Adjusted EBITDA     Three Months Ended June 30,     Six Months Ended June 30,   (Unaudited, U.S. Dollars, in thousands)   2026     2025     2026     2025   Net loss   $ (15,798 )   $ (14,081 )   $ (36,706 )   $ (67,175 ) Income tax expense (benefit)     801       (141 )     875       819   Interest expense, net     6,085       3,950       11,749       8,456   Depreciation and amortization     13,273       16,871       26,766       51,302   Share-based compensation and long-term incentive plan expense     7,945       7,824       14,583       14,293   Foreign exchange impact     746       (2,751 )     1,646       (3,795 ) SeaSpine merger-related costs     572       4,886       503       6,017   Restructuring costs and impairments related to M6 product lines     217       3,651       (220 )     13,531   Operating losses attributable to M6 product lines     868       (297 )     1,558       1,949   Strategic investments     634       353       1,584       3,867   Acquisition-related fair value adjustments     868       (763 )     1,618       (1,373 ) Interest and loss on investments     —       (31 )     (16 )     (31 ) Litigation and investigation costs     2,185       4,029       5,101       7,071   Employee retention credit     —       (2,854 )     (951 )     (2,854 ) Employee transition costs     1,742       —       1,742       —   Adjusted EBITDA   $ 20,138     $ 20,646     $ 29,832     $ 32,077   Adjusted EBITDA as a percentage of reported net sales     9.5 %     10.2 %     7.3 %     8.1 % Adjusted EBITDA as a percentage of pro forma net sales     9.6 %     10.3 %     7.3 %     8.2 %

Adjusted Net Income (Loss)     Three Months Ended June 30,     Six Months Ended June 30,   (Unaudited, U.S. Dollars, in thousands)   2026     2025     2026     2025   Net loss   $ (15,798 )   $ (14,081 )   $ (36,706 )   $ (67,175 ) Share-based compensation and long-term incentive plan expense     7,945       7,824       14,583       14,293   Foreign exchange impact     746       (2,751 )     1,646       (3,795 ) SeaSpine merger-related costs     574       7,786       591       9,260   Restructuring costs and impairments related to M6 product lines     176       4,257       (448 )     34,461   Operating losses attributable to M6 product lines     1,006       (766 )     1,922       1,922   Strategic investments     637       364       1,590       3,907   Acquisition-related fair value adjustments     868       (761 )     1,618       (1,371 ) Amortization/depreciation of acquired long-lived assets     3,107       4,221       6,285       8,853   Litigation and investigation costs     2,185       4,029       5,101       7,071   Interest and loss on investments     —       (31 )     (16 )     (31 ) Employee retention credit     —       (3,616 )     (1,135 )     (3,616 ) Employee transition costs     1,742       —       1,742       —   Long-term income tax rate adjustment     (316 )     (1,915 )     1,534       (468 ) Adjusted net income (loss)   $ 2,872     $ 4,560     $ (1,693 )   $ 3,311  

Cash Flow and Free Cash Flow     Six Months Ended June 30,   (Unaudited, U.S. Dollars, in thousands)   2026     2025   Net cash used in operating activities   $ (23,834 )   $ (6,752 ) Net cash used in investing activities     (23,162 )     (13,833 ) Net cash provided by financing activities     66,421       1,989   Effect of exchange rate changes on cash     (135 )     1,547   Net change in cash and cash equivalents   $ 19,290     $ (17,049 )     Six Months Ended June 30,   (Unaudited, U.S. Dollars, in thousands)   2026     2025   Net cash used in operating activities   $ (23,834 )   $ (6,752 ) Capital expenditures     (23,308 )     (13,845 ) Free cash flow   $ (47,142 )   $ (20,597 )

Adjusted Sales, General and Administrative Expense     Three Months Ended June 30,     Six Months Ended June 30,   (Unaudited, U.S. Dollars, in thousands)   2026     2025     2026     2025   Sales, general, and administrative   $ 138,030     $ 136,493     $ 272,941     $ 269,474   Reconciling items impacting sales, general, and administrative:                         SeaSpine merger-related costs     (270 )     (3,384 )     (756 )     (4,142 ) Restructuring costs and impairments related to M6 product lines     41       (1,393 )     228       (4,729 ) Sales, general, and administrative expense attributable to M6 product lines     (636 )     (243 )     (1,685 )     (2,631 ) Strategic investments     (633 )     (194 )     (1,581 )     (1,741 ) Amortization/depreciation of acquired long-lived assets     —       —       —       (60 ) Litigation and investigation costs     (2,185 )     (3,579 )     (5,101 )     (6,621 ) Employee transition costs     (1,148 )     —       (1,148 )     —   Sales, general, and administrative expense, as adjusted   $ 133,199     $ 127,700     $ 262,898     $ 249,550   As a percentage of reported net sales     63.1 %     62.9 %     64.5 %     62.9 % As a percentage of pro forma net sales     63.2 %     63.6 %     64.5 %     64.0 %

Adjusted Research and Development Expense     Three Months Ended June 30,     Six Months Ended June 30,   (Unaudited, U.S. Dollars, in thousands)   2026     2025     2026     2025   Research and development expense, as reported   $ 15,944     $ 15,934     $ 31,264     $ 35,700   Reconciling items impacting research and development:                         SeaSpine merger-related costs     (80 )     (62 )     (139 )     (178 ) Restructuring costs and impairments related to M6 product lines     —       (77 )     —       (1,929 ) Research and development expense attributable to M6 product lines     (413 )     (602 )     (659 )     (1,794 ) Strategic investments     (3 )     (127 )     (8 )     (2,110 ) Litigation and investigation costs     —       (450 )     —       (450 ) Research and development expense, as adjusted   $ 15,448     $ 14,616     $ 30,458     $ 29,239   As a percentage of reported net sales     7.3 %     7.2 %     7.5 %     7.4 % As a percentage of pro forma net sales     7.3 %     7.3 %     7.5 %     7.5 %

Adjusted Non-Operating (Income) Expense     Three Months Ended June 30,     Six Months Ended June 30,   (Unaudited, U.S. Dollars, in thousands)   2026     2025     2026     2025   Non-operating (income) expense   $ 6,863     $ (1,780 )   $ 13,261     $ 1,480   Reconciling items impacting non-operating expense:                         Restructuring costs and impairments related to M6 product lines     —       3       —       3   Losses (income) attributable to M6 product lines     (12 )     (26 )     126       (41 ) Foreign exchange impact     (746 )     2,751       (1,646 )     3,795   Interest and loss on investments     —       31       16       31   Employee retention credit     —       3,617       1,135       3,617   Non-operating expense, as adjusted   $ 6,105     $ 4,596     $ 12,892     $ 8,885   As a percentage of reported net sales     2.9 %     2.3 %     3.2 %     2.2 % As a percentage of pro forma net sales     2.9 %     2.3 %     3.2 %     2.3 %

Filing Exhibits & Attachments

3 documents

Press Releases

• EX-99.1 EX-99.1 946.2 KB
• EX-99.2 EX-99.2 73.1 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA WITH EMBEDDED LINKBASES DOCUMENT 23.3 KB