{
  "docId": "019de518-5a34-7373-b8ae-87e62bc04d89",
  "docSlug": "76dd067c1da48220a9c431b8bf8ab38b",
  "documentTitle": "Orthofix | Investor Presentation Deck | 22 slides",
  "authorId": "orthofix",
  "authorName": "Orthofix",
  "documentKindSlug": "pitchdeck",
  "documentKindLabel": "Pitch deck",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2024-03-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7777778,
  "pageNumber": 22,
  "pageCount": 22,
  "prevPage": 21,
  "nextPage": null,
  "slideType": "appendix_data",
  "function": "establish_context",
  "density": "overcrowded",
  "nDataPoints": 105,
  "notes": null,
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de518-5a34-7373-b8ae-87e62bc04d89/22",
  "deckHref": "/decks/019de518-5a34-7373-b8ae-87e62bc04d89",
  "deckJsonHref": "/decks/019de518-5a34-7373-b8ae-87e62bc04d89.json",
  "deckAnchorHref": "/decks/019de518-5a34-7373-b8ae-87e62bc04d89#slide-22",
  "components": [
    {
      "bbox": {
        "h": 0.03,
        "w": 0.24,
        "x": 0.715,
        "y": 0.94
      },
      "kind": "image",
      "text": null,
      "attrs": {},
      "subkind": "logo",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "be9f8bc8-6606-4357-85d4-7bffd8a86683",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.079,
        "w": 0.909,
        "x": 0.046,
        "y": 0.75
      },
      "kind": "paragraph",
      "text": "On the Company's Q4 2023 earnings call held on March 5, 2024, Orthofix management presented Proforma Adjusted EBITDA and Adjusted Proforma Gross Margin, both of which are non-GAAP financial measures, for the 4th quarter of 2022. Those proforma non-GAAP financial measures are intended to report the financial impact of the merger with SeaSpine on Adjusted EBITDA and Adjusted Gross Margin as if the merger had occurred on January 1, 2022, in order to assist investors with comparing those proforma results to those same non-GAAP financial measures as reported for the 4th quarter of 2023.",
      "attrs": {},
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "59b77448-8db0-4d05-a524-1ebe9b60d90c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.028,
        "w": 0.909,
        "x": 0.046,
        "y": 0.849
      },
      "kind": "paragraph",
      "text": "A reconciliation of proforma Adjusted EBITDA for each quarter of 2022 to the nearest GAAP financial measure for each of SeaSpine and Orthofix is presented on this slide.",
      "attrs": {},
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a1dc7c62-1c0e-43bc-a16d-feb8985bc7d7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.042,
        "w": 0.909,
        "x": 0.046,
        "y": 0.89
      },
      "kind": "paragraph",
      "text": "For further information on the reasons for and nature of non-GAAP disclosures by Orthofix and descriptions of the adjustments used to calculate non-GAAP financial measures, please see the Company's Current Report on Form 8 K filed on March 5, 2024.",
      "attrs": {},
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bae394da-69f0-417c-9a84-5e66647b332d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.013,
        "w": 0.23,
        "x": 0.38,
        "y": 0.953
      },
      "kind": "source-note",
      "text": "©2024 Orthofix Medical Inc. All rights reserved | 22",
      "attrs": {},
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6324ab3a-2cf1-48c2-8b00-2854b5c5f361",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.014,
        "w": 0.59,
        "x": 0.046,
        "y": 0.66
      },
      "kind": "source-note",
      "text": "(1) SeaSpine gross profit reflects reclassifications of certain expenses to conform to Orthofix presentation.",
      "attrs": {},
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7c2988a8-70bb-4b30-8d19-ab699082c52c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.339,
        "w": 0.95,
        "x": 0.044,
        "y": 0.32
      },
      "kind": "table",
      "text": "Proforma Historical Adjusted Gross Margin ($ in millions) Q1 22 OFIX SPNE NewCo Total revenue, net $106.418 $ 51.263 $ 157.681 Gross profit (1) $ 78.100 $ 28.966 $107.066 Add back: Share-based compensation expense 0.211 0.078 0.289 SeaSpine merger-related costs - - - Strategic investments 0.025 - 0.025 Acquisition-related fair value adjustments - 0.125 0.125 Amortization/depreciation of acquired long-lived assets - - - Medical device regulation 0.006 - 0.006 Adjusted gross profit $ 78.342 $ 29.169 $ 107.511 Adjusted gross margin (Adjusted gross profit / Total revenue, net) 73.6% 56.9% 68.2% Q2 22 OFIX SPNE NewCo $ 118.070 $ 56.942 $ 175.012 $86.470 $ 35.768 $122.238 0.204 0.082 0.286 - - - 0.566 - 0.566 - 0.083 0.083 - - - 0.008 - 0.008 $87.248 $ 35.933 $ 123.181 73.9% 63.1% 70.4% Q3 22 OFIX SPNE NewCo $ 113.996 $ 67.772 $ 181.768 $83.423 $ 38.585 $122.008 0.195 0.103 0.299 - - - 0.304 - 0.304 - - - - - - - - - $ 83.922 $ 38.688 $ 122.611 73.6% 57.1% 67.5% Q4 22 OFIX SPNE NewCo $122.229 $ 64.144 $ 186.373 $89.176 $ 38.515 $ 127.691 0.217 0.102 0.318 - - - 0.439 - 0.439 - - - - - - 0.001 - 0.001 $89.833 $ 38.617 $128.450 73.5% 60.2% 68.9% FY 2022 OFIX SPNE NewCo $460.713 $240.121 $700.834 $337.169 $ 141.834 $ 479.003 0.827 0.365 1.192 - - - 1.334 - 1.334 - 0.208 0.208 - - - 0.015 - 0.015 $339.345 $142.407 $ 481.752 73.7% 59.3% 68.7%",
      "attrs": {},
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3319ffce-a17a-4c75-86aa-185306aa76e7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.13,
        "w": 0.601,
        "x": 0.199,
        "y": 0.07
      },
      "kind": "title",
      "text": "Historical 2022 Quarterly Proforma Adjusted Gross Margin",
      "attrs": {},
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2e7dd2a0-e122-41c4-a71f-f244bbfb5c51",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Table data",
      "slug": "table-data",
      "agent": null,
      "layer": "slide",
      "matchId": "fb69ae01-3d5d-4aa3-95f5-f5ed07b3596f",
      "evidence": "table/data: Proforma Historical Adjusted Gross Margin",
      "confidence": 0.9
    }
  ],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}