XML 25 R18.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Revenue recognition and accounts receivable | 6 Months Ended
--- | ---
Jun. 30, 2024
Revenue Recognition And Accounts Receivable [Abstract] |
Revenue recognition and accounts receivable | 10. Revenue recognition and accounts receivable Revenue Recognition The Company has two reporting segments: Global Spine and Global Orthopedics. Within the Global Spine reporting segment, there are two product categories: (i) Bone Growth Therapies, and (ii) Spinal Implants, Biologics, and Enabling Technologies. The table below presents net sales by product category by reporting segment:
|  | Three Months Ended June 30, |
(Unaudited, U.S. Dollars, in thousands) |  | 2024 |  |  | 2023 |  |  | Change |
Bone Growth Therapies |  | $ | 59,135 |  |  | $ | 52,662 |  |  |  | 12.3 | %
Spinal Implants, Biologics, and Enabling Technologies |  |  | 108,899 |  |  |  | 105,314 |  |  |  | 3.4 | %
Global Spine |  |  | 168,034 |  |  |  | 157,976 |  |  |  | 6.4 | %
Global Orthopedics |  |  | 30,586 |  |  |  | 29,040 |  |  |  | 5.3 | %
Net sales |  | $ | 198,620 |  |  | $ | 187,016 |  |  |  | 6.2 | %
|  | Six Months Ended June 30, |
(Unaudited, U.S. Dollars, in thousands) |  | 2024 |  |  | 2023 |  |  | Change |
Bone Growth Therapies |  | $ | 111,612 |  |  | $ | 100,376 |  |  |  | 11.2 | %
Spinal Implants, Biologics, and Enabling Technologies |  |  | 217,715 |  |  |  | 206,806 |  |  |  | 5.3 | %
Global Spine |  |  | 329,327 |  |  |  | 307,182 |  |  |  | 7.2 | %
Global Orthopedics |  |  | 57,901 |  |  |  | 55,038 |  |  |  | 5.2 | %
Net sales |  | $ | 387,228 |  |  | $ | 362,220 |  |  |  | 6.9 | %
Product Sales and Marketing Service Fees The table below presents product sales and marketing service fees, which are both components of net sales:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
(Unaudited, U.S. Dollars, in thousands) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Product sales |  | $ | 185,417 |  |  | $ | 174,078 |  |  | $ | 361,248 |  |  | $ | 336,326 |
Marketing service fees |  |  | 13,203 |  |  |  | 12,938 |  |  |  | 25,980 |  |  |  | 25,894 |
Net sales |  | $ | 198,620 |  |  | $ | 187,016 |  |  | $ | 387,228 |  |  | $ | 362,220 |
Product sales primarily consist of the sale of bone growth therapies devices, spinal implants, certain biologics, enabling technologies, and orthopedics products. Marketing service fees are received from MTF Biologics (“MTF”) based on total sales of biologics tissues sourced from MTF and relate solely to the Global Spine reporting segment. The Company partners with MTF to provide certain allograft solutions (HCT/Ps) for various spine, orthopedic and other bone repair needs, with this partnership allowing the Company to exclusively market certain biologic offerings. Accounts receivable and related allowances The following table provides a detail of changes in the Company’s allowance for expected credit losses for the three and six months ended June 30, 2024 and 2023:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
(Unaudited, U.S. Dollars, in thousands) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Allowance for expected credit losses beginning balance |  | $ | 8,398 |  |  | $ | 6,691 |  |  | $ | 7,130 |  |  | $ | 6,419 |
Addition resulting from the Merger with SeaSpine |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 137 |
Current period provision for expected credit losses |  |  | 197 |  |  |  | 282 |  |  |  | 1,573 |  |  |  | 490 |
Write-offs charged against the allowance and other |  |  | (184 | ) |  |  | 6 |  |  |  | (203 | ) |  |  | (120 | )
Effect of changes in foreign exchange rates |  |  | (43 | ) |  |  | 36 |  |  |  | (132 | ) |  |  | 89 |
Allowance for expected credit losses ending balance |  | $ | 8,368 |  |  | $ | 7,015 |  |  | $ | 8,368 |  |  | $ | 7,015 |

X
- Definition Revenue recognition and accounts receivable. + References No definition available. + Details
Name: | ofix_RevenueRecognitionAndAccountsReceivableAbstract
Namespace Prefix: | ofix_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration