Orthofix Medical Inc. reported third quarter 2025 net sales of $205.6 million, including sales from M6 artificial cervical and lumbar discs. Pro forma net sales, excluding M6 discs, were $203.4 million, up 5% on a reported basis and 6% on a pro forma constant currency basis compared to the third quarter of 2024. U.S. Spine Fixation net sales grew 8%, with procedure volume growth of 10% over the same period last year. The company reported a net loss of $22.8 million, or $0.57 per share. Non-GAAP pro forma adjusted EBITDA for the quarter was $24.6 million, a 28.2% increase compared to the prior year. Orthofix updated its full-year 2025 guidance by narrowing its net sales outlook while maintaining the midpoint and raising the low end of its adjusted EBITDA guidance. The company expects positive free cash flow for full-year 2025, excluding restructuring charges related to the discontinuation of the M6 product lines.