Orthofix Medical (OFIX) Q3 FY2026 earnings: revenue $208 million, up 1.1% on the year

Orthofix Medical Inc. (OFIX) reported revenue of $208 million for Q3 FY2026, the quarter ended 30 September 2026, up 1.1% on the same quarter a year earlier. Net income was -$6 million, and diluted earnings per share $-0.15. The figures are the company's own, from the 10-Q it filed with the SEC on 9 November 2026.

Revenue

$208 million

+1.1% on the year · -1.5% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

0.7%

-8.3% a year earlier

Q4 FY2024Q3 FY2026

Net income

-$6 million

Q4 FY2024Q3 FY2026

Diluted EPS

-$0.15

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 lowered.

Pro forma sales grew modestly: Pro forma net sales were $207.8 million, up 2.2% from $203.4 million a year earlier, or 2.3% in constant currency. Reported net sales were $207.9 million, up 1.1%.
Net loss narrowed year on year: Reported net loss was $6.1 million, or $0.15 per share, against $22.8 million, or $0.57 per share, in the prior-year quarter.
Adjusted EBITDA rose on cost discipline: Non-GAAP adjusted EBITDA was $26.0 million, or 12.5% of pro forma net sales, against $24.6 million, or 12.1%, a year earlier. Management attributed the increase to cost discipline and resource alignment, partly offset by lower Spine revenue and unfavorable geographic mix.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	208	211	206	-1.5%	+1.1%
Cost of revenue	61.3	61.2	57.1	+0.1%	+7.4%
Gross profit	147	150	149	-2.1%	-1.3%
Gross margin	70.5%	71.0%	72.2%
Research and development	15.3	15.9	14.8	-4.2%	+3.4%
Selling, general and administrative	125	138	148	-9.2%	-15.4%
Operating income	1.5	-8.1	-17.0
Operating margin	0.7%	-3.9%	-8.3%
Pre-tax income	-5.2	-15.0	-22.3
Income tax	0.8	0.8	0.5	+3.1%	+55.0%
Net income	-6.1	-15.8	-22.8
Net margin	-2.9%	-7.5%	-11.1%
Diluted EPS	-$0.15	-$0.39	-$0.57

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	0.4	-6.2	12.4		-97.1%
Capital expenditure	14.5	12.6	9.9	+14.7%	+46.4%
Free cash flow	-14.1	-18.9	2.5
Free cash flow margin	-6.8%	-8.9%	1.2%
Cash from investing	-14.5	-12.6	-9.9
Cash from financing	-3.2	2.5	-5.2
Depreciation and amortisation	13.2	13.3	12.9	-0.8%	+1.8%
Share-based compensation	6.7	7.7	7.2	-12.8%	-6.1%
Diluted shares, weighted	41m	41m	40m	+0.7%	+3.6%
Shares outstanding at period end	41m	41m	40m	+0.0%	+3.1%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	430	429	442	+0.1%	-2.9%
Debt	222	222	157	+0.1%	+41.1%
Operating lease liabilities	23.9	24.2	26.1	-1.2%	-8.1%
Finance lease liabilities	12.9	12.9	17.2	-0.3%	-25.4%
Other liabilities	168	185	190	-9.5%	-11.6%
Total liabilities and equity	856	873	833	-2.0%	+2.8%
Fixed assets	133	131	130	+2.0%	+2.6%
Goodwill	195	195	195	0.0%	0.0%
Intangible assets	62.9	66.0	75.6	-4.7%	-16.8%
Cash and equivalents	86.3	104	62.9	-16.8%	+37.3%
Receivables	132	136	131	-3.0%	+0.7%
Inventory	190	184	174	+3.2%	+9.4%
Other assets	56.1	57.3	64.3	-2.0%	-12.7%
Total assets	856	873	833	-2.0%	+2.8%

Questions

What was Orthofix Medical's revenue in Q3 FY2026?

Orthofix Medical (OFIX) reported revenue of $208 million for Q3 FY2026, the quarter ended 30 September 2026, up 1.1% on the same quarter a year earlier.

How much did Orthofix Medical earn in Q3 FY2026?

Net loss for Q3 FY2026 was $6 million, and the diluted loss per share $0.15.

When did Orthofix Medical report Q3 FY2026 results?

Orthofix Medical filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 9 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	125	106	118	114	122	175	187	184	200	189	199	197	216	194	203	206	220	197	211	208
Cost of revenue	33.3	28.3	31.6	30.6	33.1	64.9	67.5	64.2	63.8	61.4	63.9	61.6	66.8	72.0	63.6	57.1	63.6	57.2	61.2	61.3
Gross profit	91.8	78.1	86.5	83.4	89.2	110	120	120	137	127	135	135	149	122	140	149	156	140	150	147
Gross margin	73%	73%	73%	73%	73%	63%	64%	65%	68%	67%	68%	69%	69%	63%	69%	72%	71%	71%	71%	71%
R&D	13.2	11.2	12.8	11.9	13.2	23.3	19.4	18.6	18.9	19.5	18.0	17.3	18.8	19.8	15.9	14.8	15.4	15.3	15.9	15.3
SG&A	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	132	134	130	136	133	136	148	137	135	138	125
Operating income	-9.4	-3.1	6.6	-5.8	-11.0	-59.7	-36.6	-24.4	-18.3	-29.3	-24.9	-18.9	-11.5	-48.9	-16.0	-17.0	0.5	-14.4	-8.1	1.5
Operating margin	-7%	-3%	6%	-5%	-9%	-34%	-20%	-13%	-9%	-16%	-13%	-10%	-5%	-25%	-8%	-8%	0%	-7%	-4%	1%
Pre-tax income	-9.6	-4.4	3.0	-9.4	-7.0	-60.3	-37.9	-28.4	-22.0	-35.2	-32.4	-26.6	-29.7	-52.1	-14.2	-22.3	-2.2	-20.8	-15.0	-5.2
Tax rate	n/a	n/a	18%	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Net income	-32.8	-4.5	2.5	-10.7	-7.1	-60.9	-39.4	-28.9	-22.2	-36.0	-33.4	-27.4	-29.1	-53.1	-14.1	-22.8	-2.2	-20.9	-15.8	-6.1
Net margin	-26%	-4%	2%	-9%	-6%	-35%	-21%	-16%	-11%	-19%	-17%	-14%	-14%	-27%	-7%	-11%	-1%	-11%	-7%	-3%
Diluted EPS	-$1.66	-$0.22	$0.12	-$0.53	-$0.35	-$1.71	-$1.07	-$0.77	-$0.59	-$0.95	-$0.88	-$0.71	-$0.75	-$1.35	-$0.36	-$0.57	-$0.06	-$0.52	-$0.39	-$0.15
Operating cash flow	11.8	-7.7	-4.9	-1.3	2.3	-34.0	-5.5	0.5	-6.7	-18.6	9.0	11.7	23.7	-18.4	11.6	12.4	27.7	-17.6	-6.2	0.4
Capital expenditure	6.2	5.3	5.7	5.1	5.2	11.5	12.4	21.9	14.6	10.5	9.3	5.3	8.5	6.7	7.1	9.9	10.9	10.7	12.6	14.5
Free cash flow	5.6	-13.0	-10.6	-6.4	-2.9	-45.5	-17.9	-21.4	-21.3	-29.1	-0.4	6.3	15.2	-25.1	4.5	2.5	16.8	-28.3	-18.9	-14.1
Shares outstanding	20m	20m	20m	20m	20m	36m	37m	37m	37m	37m	38m	38m	38m	39m	39m	40m	40m	40m	41m	41m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 9 November 2026: the filing.