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Revenue recognition and accounts receivable | 6 Months Ended
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Jun. 30, 2025
Revenue Recognition And Accounts Receivable [Abstract] |
Revenue recognition and accounts receivable | 9. 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 tables below present net sales by product category by reporting segment:
|  | Three Months Ended June 30, |
(Unaudited, U.S. Dollars, in thousands) |  | 2025 |  |  | 2024 |  |  | Change |
Bone Growth Therapies |  | $ | 62,573 |  |  | $ | 59,135 |  |  |  | 5.8 | %
Spinal Implants, Biologics, and Enabling Technologies |  |  | 107,251 |  |  |  | 108,899 |  |  |  | -1.5 | %
Global Spine |  |  | 169,824 |  |  |  | 168,034 |  |  |  | 1.1 | %
Global Orthopedics |  |  | 33,297 |  |  |  | 30,586 |  |  |  | 8.9 | %
Net sales |  | $ | 203,121 |  |  | $ | 198,620 |  |  |  | 2.3 | %
|  | Six Months Ended June 30, |
(Unaudited, U.S. Dollars, in thousands) |  | 2025 |  |  | 2024 |  |  | Change |
Bone Growth Therapies |  | $ | 117,623 |  |  | $ | 111,612 |  |  |  | 5.4 | %
Spinal Implants, Biologics, and Enabling Technologies |  |  | 216,037 |  |  |  | 217,715 |  |  |  | -0.8 | %
Global Spine |  |  | 333,660 |  |  |  | 329,327 |  |  |  | 1.3 | %
Global Orthopedics |  |  | 63,107 |  |  |  | 57,901 |  |  |  | 9.0 | %
Net sales |  | $ | 396,767 |  |  | $ | 387,228 |  |  |  | 2.5 | %
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) |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Product sales |  | $ | 191,395 |  |  | $ | 185,417 |  |  | $ | 373,028 |  |  | $ | 361,248 |
Marketing service fees |  |  | 11,726 |  |  |  | 13,203 |  |  |  | 23,739 |  |  |  | 25,980 |
Net sales |  | $ | 203,121 |  |  | $ | 198,620 |  |  | $ | 396,767 |  |  | $ | 387,228 |
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 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, 2025 and 2024:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
(Unaudited, U.S. Dollars, in thousands) |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Allowance for expected credit losses beginning balance |  | $ | 8,602 |  |  | $ | 8,398 |  |  | $ | 7,418 |  |  | $ | 7,130 |
Current period provision for expected credit losses |  |  | 779 |  |  |  | 197 |  |  |  | 1,837 |  |  |  | 1,573 |
Write-offs charged against the allowance and other |  |  | (747 | ) |  |  | (184 | ) |  |  | (758 | ) |  |  | (203 | )
Effect of changes in foreign exchange rates |  |  | 275 |  |  |  | (43 | ) |  |  | 412 |  |  |  | (132 | )
Allowance for expected credit losses ending balance |  | $ | 8,909 |  |  | $ | 8,368 |  |  | $ | 8,909 |  |  | $ | 8,368 |

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