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Business segment information (Tables) | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Summary of EBITDA by Reporting Segment | The table below presents adjusted EBITDA by reporting segment:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
(Unaudited, U.S. Dollars, in thousands) |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Adjusted EBITDA by reporting segment |  |  |  |  |  |  |  |  |  |  |  |
Global Spine |  |  | 21,258 |  |  |  | 14,610 |  |  |  | 36,239 |  |  |  | 28,643 |
Global Orthopedics |  |  | (135 | ) |  |  | 780 |  |  |  | (91 | ) |  |  | (24 | )
Corporate |  |  | (11,204 | ) |  |  | (3,967 | ) |  |  | (23,025 | ) |  |  | (10,087 | )
Consolidated adjusted EBITDA |  | $ | 9,919 |  |  | $ | 11,423 |  |  | $ | 13,123 |  |  | $ | 18,532 |
Reconciling items: |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | 1,266 |  |  |  | 407 |  |  |  | 2,555 |  |  |  | 782 |
Depreciation and amortization |  |  | 13,327 |  |  |  | 6,512 |  |  |  | 25,997 |  |  |  | 14,028 |
Share-based compensation expense |  |  | 13,246 |  |  |  | 4,460 |  |  |  | 26,266 |  |  |  | 8,792 |
Foreign exchange impact |  |  | (269 | ) |  |  | 2,991 |  |  |  | (852 | ) |  |  | 4,233 |
SeaSpine merger-related costs |  |  | 8,206 |  |  |  | — |  |  |  | 28,946 |  |  |  | — |
Strategic investments |  |  | 309 |  |  |  | 1,824 |  |  |  | 970 |  |  |  | 2,794 |
Acquisition-related fair value adjustments |  |  | 8,149 |  |  |  | (10,714 | ) |  |  | 19,785 |  |  |  | (16,214 | )
Legal judgments/settlements |  |  | 1,291 |  |  |  | 148 |  |  |  | 1,760 |  |  |  | 341 |
Medical device regulation |  |  | 2,050 |  |  |  | 2,248 |  |  |  | 5,679 |  |  |  | 4,198 |
Business interruption - COVID-19 |  |  | — |  |  |  | 316 |  |  |  | — |  |  |  | 659 |
All other |  |  | 262 |  |  |  | 189 |  |  |  | 262 |  |  |  | 266 |
Income (loss) before income taxes |  | $ | (37,918 | ) |  | $ | 3,042 |  |  | $ | (98,245 | ) |  | $ | (1,347 | )
Summary of Net Sales by Geographic Destination for each Reporting Segment | 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) |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Global Spine |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 147,360 |  |  | $ | 85,899 |  |  | $ | 286,817 |  |  | $ | 162,965 |
International |  |  | 10,616 |  |  |  | 4,883 |  |  |  | 20,365 |  |  |  | 10,472 |
Total Global Spine |  |  | 157,976 |  |  |  | 90,782 |  |  |  | 307,182 |  |  |  | 173,437 |
Global Orthopedics |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  |  | 7,223 |  |  |  | 6,903 |  |  |  | 13,859 |  |  |  | 12,230 |
International |  |  | 21,817 |  |  |  | 20,385 |  |  |  | 41,179 |  |  |  | 38,821 |
Total Global Orthopedics |  |  | 29,040 |  |  |  | 27,288 |  |  |  | 55,038 |  |  |  | 51,051 |
Consolidated |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  |  | 154,583 |  |  |  | 92,802 |  |  |  | 300,676 |  |  |  | 175,195 |
International |  |  | 32,433 |  |  |  | 25,268 |  |  |  | 61,544 |  |  |  | 49,293 |
Net sales |  | $ | 187,016 |  |  | $ | 118,070 |  |  | $ | 362,220 |  |  | $ | 224,488 |

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