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      "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.",
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      "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.",
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      "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.",
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      "text": "©2024 Orthofix Medical Inc. All rights reserved | 7",
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      "text": "Proforma Historical Adjusted EBITDA ($ in millions) Q1 22 Q2 22 Q3 22 Q4 22 FY 2022 Loss before income taxes Non-GAAP adjustments Interest expense, net Depreciation and intangible asset amortization expense Share-based compensation expense Foreign exchange impact and other non-operating expense/(gain) SeaSpine merger-related expenses Strategic investments Acquisition-related fair value adjustments Loss on investment securities Legal judgments/settlements Medical device regulation Business interruption - COVID-19 Succession and transition charges Spinal set instrument replacement expense European sales and marketing organization restructuring Total Non-GAAP adjustments Adjusted Proforma EBITDA (proforma for SeaSpine merger)",
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      "text": "Historical 2022 Quarterly Proforma Adjusted EBITDA",
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