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Revenue recognition and accounts receivable (Tables)

9 Months Ended

Sep. 30, 2024

Revenue Recognition And Accounts Receivable [Abstract]

Schedule of Net Sales by Product Category by Reporting Segment

The table below presents net sales by product category by reporting segment:

		Three Months Ended September 30,
(Unaudited, U.S. Dollars, in thousands)		2024				2023				Change
Bone Growth Therapies		$	57,925			$	53,359				8.6	%
Spinal Implants, Biologics, and Enabling Technologies			108,179				100,993				7.1	%
Global Spine			166,104				154,352				7.6	%
Global Orthopedics			30,502				29,654				2.9	%
Net sales		$	196,606			$	184,006				6.8	%

		Nine Months Ended September 30,
(Unaudited, U.S. Dollars, in thousands)		2024				2023				Change
Bone Growth Therapies		$	169,537			$	153,735				10.3	%
Spinal Implants, Biologics, and Enabling Technologies			325,894				307,799				5.9	%
Global Spine			495,431				461,534				7.3	%
Global Orthopedics			88,403				84,692				4.4	%
Net sales		$	583,834			$	546,226				6.9	%

Schedule of Components Net Sales

The table below presents product sales and marketing service fees, which are both components of net sales:

		Three Months Ended September 30,								Nine Months Ended September 30,
(Unaudited, U.S. Dollars, in thousands)		2024				2023				2024				2023
Product sales		$	184,040			$	170,666			$	545,288			$	506,992
Marketing service fees			12,566				13,340				38,546				39,234
Net sales		$	196,606			$	184,006			$	583,834			$	546,226

Allowances for Expected Credit Losses

The following table provides a detail of changes in the Company’s allowance for expected credit losses for the three and nine months ended September 30, 2024 and 2023:

		Three Months Ended September 30,								Nine Months Ended September 30,
(Unaudited, U.S. Dollars, in thousands)		2024				2023				2024				2023
Allowance for expected credit losses beginning balance		$	8,368			$	7,015			$	7,130			$	6,419
Addition resulting from the Merger with SeaSpine			—				—				—				137
Current period provision for expected credit losses			486				415				2,059				905
Write-offs charged against the allowance and other			(1,118	)			(214	)			(1,321	)			(334	)
Effect of changes in foreign exchange rates			142				(126	)			10				(37	)
Allowance for expected credit losses ending balance		$	7,878			$	7,090			$	7,878			$	7,090

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- Definition

Revenue recognition and accounts receivable.

+ References

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Tabular disclosure of allowance for credit loss on accounts receivable.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-13

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Tabular disclosure of the extent of the entity's reliance on its major customers, if revenues from transactions with a single external customer amount to 10 percent or more of entity revenues, including the disclosure of that fact, the total amount of revenues from each such customer, and the identity of the reportable segment or segments reporting the revenues. The entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For these purposes, a group of companies known to the entity to be under common control is considered a single customer, and the federal government, a state government, a local government such as a county or municipality, or a foreign government is each considered a single customer.

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