Business segment information (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Summary of EBITDA by Reporting Segment

The following table presents adjusted EBITDA, the primary metric used in managing the Company, by reporting segment:

	Three Months Ended June 30,						Six Months Ended June 30,
(Unaudited, U.S. Dollars, in thousands)	2024			2023			2024			2023
Adjusted EBITDA by reporting segment
Global Spine	$	27,688		$	21,258		$	47,578		$	36,239
Global Orthopedics		179			(135	)		(1,313	)		(91	)
Adjusted EBITDA	$	27,867		$	21,123		$	46,265		$	36,148
Reconciling items:
Corporate operating expenses	$	11,234		$	11,204		$	21,967		$	23,025
Interest expense, net		4,943			1,266			9,501			2,555
Depreciation and amortization		14,032			13,327			28,894			25,997
Share-based compensation expense		9,959			13,246			18,759			26,266
Foreign exchange impact		851			(269	)		2,439			(852	)
SeaSpine merger-related costs		5,897			8,206			10,376			28,946
Strategic investments		311			309			431			970
Acquisition-related fair value adjustments		6,117			8,149			10,334			19,785
Interest and loss on investments		1,813			—			1,553			—
Litigation and investigation costs		(277	)		1,291			1,983			1,760
Succession charges		5,346			262			7,556			262
Medical device regulation		—			2,050			—			5,679
Loss before income taxes	$	(32,359	)	$	(37,918	)	$	(67,528	)	$	(98,245	)

Schedule of Depreciation and Amortization by Reporting Segment

The following table presents depreciation and amortization by reporting segment:

	Three Months Ended June 30,				Six Months Ended June 30,
(Unaudited, U.S. Dollars, in thousands)	2024		2023		2024		2023
Global Spine	$	11,044	$	10,368	$	22,973	$	19,967
Global Orthopedics		2,191		1,719		4,398		3,348
Corporate		797		1,240		1,523		2,682
Total	$	14,032	$	13,327	$	28,894	$	25,997

Summary of Net Sales by Geographic Destination

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

	Three Months Ended June 30,				Six Months Ended June 30,
(Unaudited, U.S. Dollars, in thousands)	2024		2023		2024		2023
Global Spine
U.S.	$	159,191	$	147,360	$	311,056	$	286,817
International		8,843		10,616		18,271		20,365
Total Global Spine		168,034		157,976		329,327		307,182
Global Orthopedics
U.S.		7,742		7,223		15,896		13,859
International		22,844		21,817		42,005		41,179
Total Global Orthopedics		30,586		29,040		57,901		55,038
Consolidated
U.S.		166,933		154,583		326,952		300,676
International		31,687		32,433		60,276		61,544
Net sales	$	198,620	$	187,016	$	387,228	$	362,220

The following data includes net sales by geographic area:

	Three Months Ended June 30,				Six Months Ended June 30,
(Unaudited, U.S. Dollars, in thousands)	2024		2023		2024		2023
U.S.	$	166,933	$	154,583	$	326,952	$	300,676
Italy		5,257		5,262		10,259		10,117
France		3,510		2,811		6,026		5,271
United Kingdom		2,623		2,540		5,254		5,320
Germany		2,393		2,721		4,498		5,359
Brazil		1,708		1,882		3,236		2,765
Others		16,196		17,217		31,003		32,712
Net Sales	$	198,620	$	187,016	$	387,228	$	362,220

Summary of Property, Plant and Equipment of Reporting Segments by Geographic Area

The following data includes property, plant, and equipment by geographic area:

(U.S. Dollars, in thousands)	June 30, 2024		December 31, 2023
	(Unaudited)
U.S.	$	138,757	$	142,727
Italy		9,571		10,187
Germany		2,388		3,030
Others		3,395		3,116
Total	$	154,111	$	159,060