Business segment information

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Business segment information

10. Business segment information

The Company has two reporting segments: Global Spine and Global Orthopedics. The primary metric used in managing the Company is earnings before interest, tax, depreciation, and amortization (“EBITDA”). Corporate activities comprise operating expenses and activities not directly identifiable within the two reporting segments, such as human resources, finance, legal, and information technology functions. The table below presents EBITDA by reporting segment:

	Three Months Ended September 30,						Nine Months Ended September 30,
(U.S. Dollars, in thousands)	2022			2021			2022			2021
Global Spine	$	10,116		$	13,908		$	46,775		$	44,835
Global Orthopedics		(473	)		(196	)		(5,991	)		(650	)
Corporate		(11,168	)		(8,663	)		(28,846	)		(24,522	)
Total EBITDA	$	(1,525	)	$	5,049		$	11,938		$	19,663
Depreciation and amortization		(7,570	)		(7,151	)		(21,598	)		(22,153	)
Interest expense, net		(277	)		(433	)		(1,059	)		(1,400	)
Loss before income taxes	$	(9,372	)	$	(2,535	)	$	(10,719	)	$	(3,890	)

Geographical information

The table below presents net sales by geographic destination for each reporting segment and for the consolidated Company:

	Three Months Ended September 30,				Nine Months Ended September 30,
(U.S. Dollars, in thousands)	2022		2021		2022		2021
Global Spine
U.S.	$	81,414	$	79,983	$	244,379	$	246,815
International		4,772		6,142	$	15,244		16,300
Total Global Spine		86,186		86,125		259,623		263,115
Global Orthopedics
U.S.		6,588		6,010		18,818		17,757
International		21,222		20,293		60,043		58,543
Total Global Orthopedics		27,810		26,303		78,861		76,300
Consolidated
U.S.		88,002		85,993		263,197		264,572
International		25,994		26,435		75,287		74,843
Net sales	$	113,996	$	112,428	$	338,484	$	339,415