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Business segment information (Tables) | 9 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Summary of EBITDA by Reporting Segment | The table below presents adjusted EBITDA by reporting segment:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
(Unaudited, U.S. Dollars, in thousands) |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Adjusted EBITDA by reporting segment |  |  |  |  |  |  |  |  |  |  |  |
Global Spine |  | $ | 22,593 |  |  | $ | 16,601 |  |  | $ | 58,832 |  |  | $ | 45,244 |
Global Orthopedics |  |  | 477 |  |  |  | 2,648 |  |  |  | 386 |  |  |  | 2,624 |
Corporate |  |  | (9,549 | ) |  |  | (4,994 | ) |  |  | (32,574 | ) |  |  | (15,081 | )
Consolidated adjusted EBITDA |  | $ | 13,521 |  |  | $ | 14,255 |  |  | $ | 26,644 |  |  | $ | 32,787 |
Reconciling items: |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  | $ | 1,576 |  |  | $ | 277 |  |  | $ | 4,131 |  |  | $ | 1,059 |
Depreciation and amortization |  |  | 13,097 |  |  |  | 7,570 |  |  |  | 39,094 |  |  |  | 21,598 |
Share-based compensation expense |  |  | 6,274 |  |  |  | 4,729 |  |  |  | 32,540 |  |  |  | 13,521 |
Foreign exchange impact |  |  | 1,909 |  |  |  | 3,253 |  |  |  | 1,057 |  |  |  | 7,486 |
SeaSpine merger-related costs |  |  | 5,416 |  |  |  | — |  |  |  | 34,362 |  |  |  | — |
Strategic investments |  |  | 913 |  |  |  | 3,390 |  |  |  | 1,883 |  |  |  | 6,184 |
Acquisition-related fair value adjustments |  |  | 7,122 |  |  |  | 419 |  |  |  | 26,907 |  |  |  | (15,795 | )
Legal judgments/settlements |  |  | 3,851 |  |  |  | 125 |  |  |  | 5,611 |  |  |  | 466 |
Medical device regulation |  |  | 1,840 |  |  |  | 2,590 |  |  |  | 7,519 |  |  |  | 6,883 |
Business interruption - COVID-19 |  |  | — |  |  |  | 1,215 |  |  |  | — |  |  |  | 1,874 |
All other |  |  | (92 | ) |  |  | 59 |  |  |  | 170 |  |  |  | 230 |
Loss before income taxes |  | $ | (28,385 | ) |  | $ | (9,372 | ) |  | $ | (126,630 | ) |  | $ | (10,719 | )
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 September 30, |  |  | Nine Months Ended September 30, |
(Unaudited, U.S. Dollars, in thousands) |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Global Spine |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 145,764 |  |  | $ | 81,414 |  |  | $ | 432,581 |  |  | $ | 244,379 |
International |  |  | 8,588 |  |  |  | 4,772 |  |  |  | 28,953 |  |  |  | 15,244 |
Total Global Spine |  |  | 154,352 |  |  |  | 86,186 |  |  |  | 461,534 |  |  |  | 259,623 |
Global Orthopedics |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  |  | 7,482 |  |  |  | 6,588 |  |  |  | 21,341 |  |  |  | 18,818 |
International |  |  | 22,172 |  |  |  | 21,222 |  |  |  | 63,351 |  |  |  | 60,043 |
Total Global Orthopedics |  |  | 29,654 |  |  |  | 27,810 |  |  |  | 84,692 |  |  |  | 78,861 |
Consolidated |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  |  | 153,246 |  |  |  | 88,002 |  |  |  | 453,922 |  |  |  | 263,197 |
International |  |  | 30,760 |  |  |  | 25,994 |  |  |  | 92,304 |  |  |  | 75,287 |
Net sales |  | $ | 184,006 |  |  | $ | 113,996 |  |  | $ | 546,226 |  |  | $ | 338,484 |

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