Orthofix Reports Fourth Quarter and Full Year 2023 Results
Recent Highlights
-
Fourth quarter 2023 net sales of
$200.4 million , an increase of 64% on a reported basis and 7% on a pro forma constant currency basis -
Bone Growth Therapies net sales growth of 15% for the fourth quarter of 2023, marking four consecutive quarters with double-digit net sales increases, representing the strongest quarter of Bone Growth Therapies sales in the history of
Orthofix -
U.S. Orthopedic net sales growth of 11% for the full year 2023 -
U.S. spine fixation1 net sales growth of 13.5% in Q4 2023 with net distributor additions since the third quarter of 2023 -
Fourth quarter 2023 net loss of
$22 million ; Non-GAAP Adjusted EBITDA of$20 million , or 10% of sales, representing 96% growth over the fourth quarter of 2022 -
Achieved
$32 million in annualized merger-related synergies for the full year endedDecember 31, 2023
Fourth quarter net sales were
Full year net sales were
“We are pleased to report another quarter of strong performance as
1 Spine fixation is comprised of the Company's Spinal Implants product category, excluding motion preservation product offerings
Financial Results Overview
Fourth Quarter 2023 Net Sales and Financial Results
The following table provides net sales by major product category by reporting segment on a reporting basis:
|
|
Three Months Ended |
|
|||||||||||||
(Unaudited, |
|
2023 |
|
|
2022 |
|
|
Change |
|
|
Constant
|
|
||||
Bone Growth Therapies |
|
$ |
58.8 |
|
|
$ |
51.0 |
|
|
|
15.3 |
% |
|
|
15.3 |
% |
Spinal Implants, Biologics, and Enabling Technologies |
|
|
111.0 |
|
|
|
42.5 |
|
|
|
161.2 |
% |
|
|
160.7 |
% |
Global Spine |
|
|
169.8 |
|
|
|
93.5 |
|
|
|
81.6 |
% |
|
|
81.4 |
% |
Global Orthopedics |
|
|
30.6 |
|
|
|
28.7 |
|
|
|
6.8 |
% |
|
|
2.7 |
% |
Net sales |
|
$ |
200.4 |
|
|
$ |
122.2 |
|
|
|
64.0 |
% |
|
|
62.9 |
% |
Further, the following table provides net sales by major product category by reporting segment on a pro forma basis:
|
|
Three Months Ended |
|
|||||||||||||
(Unaudited, |
|
2023 |
|
|
2022 Pro Forma |
|
|
Change |
|
|
Constant
|
|
||||
Bone Growth Therapies |
|
$ |
58.8 |
|
|
$ |
51.0 |
|
|
|
15.3 |
% |
|
|
15.3 |
% |
|
|
|
100.6 |
|
|
|
96.4 |
|
|
|
4.4 |
% |
|
|
4.4 |
% |
International Spinal Implants, Biologics, and Enabling Technologies |
|
|
10.4 |
|
|
|
10.3 |
|
|
|
0.7 |
% |
|
|
0.1 |
% |
Total Spinal Implants, Biologics, and Enabling Technologies |
|
|
111.0 |
|
|
|
106.7 |
|
|
|
4.0 |
% |
|
|
4.0 |
% |
Global Spine |
|
|
169.8 |
|
|
|
157.7 |
|
|
|
7.7 |
% |
|
|
7.6 |
% |
Global Orthopedics |
|
|
30.6 |
|
|
|
28.7 |
|
|
|
6.8 |
% |
|
|
2.7 |
% |
Net sales |
|
$ |
200.4 |
|
|
$ |
186.4 |
|
|
|
7.5 |
% |
|
|
6.9 |
% |
Gross margins were 68.2% for the fourth quarter ended
Net loss was
Full Year 2023 Net Sales and Financial Results
The following table provides net sales by major product category by reporting segment on a reporting basis:
|
|
Year Ended |
|
|||||||||||||
(Unaudited, |
|
2023 |
|
|
2022 |
|
|
Change |
|
|
Constant
|
|
||||
Bone Growth Therapies |
|
$ |
212.5 |
|
|
$ |
187.2 |
|
|
|
13.5 |
% |
|
|
13.5 |
% |
Spinal Implants, Biologics, and Enabling Technologies |
|
|
418.8 |
|
|
|
166.0 |
|
|
|
152.4 |
% |
|
|
152.4 |
% |
Global Spine |
|
|
631.3 |
|
|
|
353.2 |
|
|
|
78.8 |
% |
|
|
78.7 |
% |
Global Orthopedics |
|
|
115.3 |
|
|
|
107.5 |
|
|
|
7.2 |
% |
|
|
5.2 |
% |
Net sales |
|
$ |
746.6 |
|
|
$ |
460.7 |
|
|
|
62.1 |
% |
|
|
61.6 |
% |
Further, the following table provides net sales by major product category by reporting segment on a pro forma basis:
|
|
Year Ended |
||||||||||||||
(Unaudited, |
|
2023 |
|
|
2022 Pro Forma |
|
|
Change |
|
Constant
|
||||||
Bone Growth Therapies |
|
$ |
212.5 |
|
|
$ |
187.2 |
|
|
|
13.5 |
% |
|
|
13.5 |
% |
|
|
|
379.4 |
|
|
|
352.5 |
|
|
|
7.6 |
% |
|
|
7.6 |
% |
International Spinal Implants, Biologics, and Enabling Technologies |
|
|
39.4 |
|
|
|
53.6 |
|
|
|
(26.5 |
%) |
|
|
(26.6 |
%) |
Total Spinal Implants, Biologics, and Enabling Technologies** |
|
|
418.8 |
|
|
|
406.0 |
|
|
|
3.1 |
% |
|
|
3.1 |
% |
Global Spine |
|
|
631.3 |
|
|
|
593.3 |
|
|
|
6.4 |
% |
|
|
6.4 |
% |
Global Orthopedics |
|
|
115.3 |
|
|
|
107.5 |
|
|
|
7.2 |
% |
|
|
5.2 |
% |
Net sales*** |
|
$ |
746.6 |
|
|
$ |
700.8 |
|
|
|
6.5 |
% |
|
|
6.2 |
% |
** Pro forma net sales for 2022 for Spinal Implants, Biologics, and Enabling Technologies include the impact of final Spinal Implant stocking orders to European distributors prior to
*** Pro forma net sales for 2022 include the impact of final Spinal Implant stocking orders to European distributors prior to
Gross margins were 65.1% and were 71.4% on a non-GAAP adjusted basis compared to pro forma non-GAAP adjusted gross margin of 68.7% in the prior year.
Net loss was
Liquidity
As of
Business Outlook
The Company is providing 2024 full year guidance as follows:
-
Net sales to range between
$785 million to$795 million , representing implied growth of 5% to 7% year-over-year on a constant currency basis. These expectations are based on the current foreign currency exchange rates and do not take into account any additional potential exchange rate changes that may occur this year. -
Non-GAAP adjusted EBITDA of
$62 million to$67 million , representing a$15.7 million to$20.7 million increase, over the full year 2023 - Exit Q4 2024 free cash flow positive
Conference Call
About
The Company is headquartered in
Forward-Looking Statements
This communication contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, relating to our business and financial outlook, which are based on our current beliefs, assumptions, expectations, estimates, forecasts and projections. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “projects,” “intends,” “predicts,” “potential,” or “continue” or other comparable terminology. Forward-looking statements in this communication include the Company's expectations regarding net sales and adjusted EBITDA for the year ended
This list of risks, uncertainties, and other factors is not complete. We discuss some of these matters more fully, as well as certain risk factors that could affect our business, financial condition, results of operations, and prospects, in reports we file from time-to-time with the
The Company is unable to provide expectations of GAAP income (loss) before income taxes, the closest comparable GAAP measures to Adjusted EBITDA (which is a non-GAAP measure), on a forward-looking basis because the Company is unable to predict without unreasonable efforts the ultimate outcome of matters (including acquisition-related expenses, accounting fair value adjustments, and other such items) that will determine the quantitative amount of the items excluded in calculating Adjusted EBITDA, which items are further described in the reconciliation tables and related descriptions below. These items are uncertain, depend on various factors, and could be material to the Company’s results computed in accordance with GAAP.
Condensed Consolidated Statements of Operations |
||||||||||||||||
|
|
Three Months Ended |
|
Year Ended |
||||||||||||
|
|
|
|
|
||||||||||||
( |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
||||
|
|
(Unaudited) |
|
|
||||||||||||
Net sales |
|
$ |
200,415 |
|
|
$ |
122,229 |
|
|
$ |
746,641 |
|
|
$ |
460,713 |
|
Cost of sales |
|
|
63,785 |
|
|
|
33,053 |
|
|
|
260,368 |
|
|
|
123,544 |
|
Gross profit |
|
|
136,630 |
|
|
|
89,176 |
|
|
|
486,273 |
|
|
|
337,169 |
|
Sales and marketing |
|
|
97,749 |
|
|
|
59,324 |
|
|
|
385,736 |
|
|
|
228,810 |
|
General and administrative |
|
|
34,535 |
|
|
|
25,470 |
|
|
|
144,659 |
|
|
|
79,966 |
|
Research and development |
|
|
18,941 |
|
|
|
13,152 |
|
|
|
80,231 |
|
|
|
49,065 |
|
Acquisition-related amortization and remeasurement |
|
|
3,720 |
|
|
|
2,274 |
|
|
|
14,757 |
|
|
|
(7,404 |
) |
Operating loss |
|
|
(18,315 |
) |
|
|
(11,044 |
) |
|
|
(139,110 |
) |
|
|
(13,268 |
) |
Interest expense, net |
|
|
(4,500 |
) |
|
|
(229 |
) |
|
|
(8,631 |
) |
|
|
(1,288 |
) |
Other income (expense), net |
|
|
766 |
|
|
|
4,286 |
|
|
|
(938 |
) |
|
|
(3,150 |
) |
Loss before income taxes |
|
|
(22,049 |
) |
|
|
(6,987 |
) |
|
|
(148,679 |
) |
|
|
(17,706 |
) |
Income tax expense |
|
|
(125 |
) |
|
|
(75 |
) |
|
|
(2,716 |
) |
|
|
(2,043 |
) |
Net loss |
|
$ |
(22,174 |
) |
|
$ |
(7,062 |
) |
|
$ |
(151,395 |
) |
|
$ |
(19,749 |
) |
|
|
|
|
|
|
|
|
|
||||||||
Net loss per common share: |
|
|
|
|
|
|
|
|
||||||||
Basic |
|
$ |
(0.59 |
) |
|
$ |
(0.35 |
) |
|
$ |
(4.12 |
) |
|
$ |
(0.98 |
) |
Diluted |
|
|
(0.59 |
) |
|
|
(0.35 |
) |
|
|
(4.12 |
) |
|
|
(0.98 |
) |
Weighted average number of common shares (in millions): |
|
|
|
|
|
|
|
|
||||||||
Basic |
|
|
37.3 |
|
|
|
20.2 |
|
|
|
36.7 |
|
|
|
20.1 |
|
Diluted |
|
|
37.3 |
|
|
|
20.2 |
|
|
|
36.7 |
|
|
|
20.1 |
|
Condensed Consolidated Balance Sheets |
||||||||
( |
|
|
|
|
||||
|
|
|
|
|
||||
Assets |
|
|
|
|
||||
Current assets |
|
|
|
|
||||
Cash and cash equivalents |
|
$ |
33,107 |
|
|
$ |
50,700 |
|
Restricted cash |
|
|
4,650 |
|
|
|
— |
|
Accounts receivable, net of allowances of |
|
|
128,098 |
|
|
|
82,857 |
|
Inventories |
|
|
222,166 |
|
|
|
100,150 |
|
Prepaid expenses and other current assets |
|
|
32,422 |
|
|
|
22,283 |
|
Total current assets |
|
|
420,443 |
|
|
|
255,990 |
|
Property, plant, and equipment, net |
|
|
159,060 |
|
|
|
58,229 |
|
Intangible assets, net |
|
|
117,490 |
|
|
|
47,388 |
|
|
|
|
194,934 |
|
|
|
71,317 |
|
Other long-term assets |
|
|
33,388 |
|
|
|
25,705 |
|
Total assets |
|
$ |
925,315 |
|
|
$ |
458,629 |
|
Liabilities and shareholders’ equity |
|
|
|
|
||||
Current liabilities |
|
|
|
|
||||
Accounts payable |
|
$ |
58,357 |
|
|
$ |
27,598 |
|
Current portion of long-term debt |
|
|
1,250 |
|
|
|
— |
|
Current portion of finance lease liability |
|
|
708 |
|
|
|
652 |
|
Other current liabilities |
|
|
104,908 |
|
|
|
55,374 |
|
Total current liabilities |
|
|
165,223 |
|
|
|
83,624 |
|
Long-term debt |
|
|
93,107 |
|
|
|
— |
|
Long-term portion of finance lease liability |
|
|
18,532 |
|
|
|
19,239 |
|
Other long-term liabilities |
|
|
49,723 |
|
|
|
18,906 |
|
Total liabilities |
|
|
326,585 |
|
|
|
121,769 |
|
Contingencies |
|
|
|
|
||||
Shareholders’ equity |
|
|
|
|
||||
Common shares |
|
|
3,717 |
|
|
|
2,016 |
|
Additional paid-in capital |
|
|
746,450 |
|
|
|
334,969 |
|
Retained earnings (accumulated deficit) |
|
|
(150,144 |
) |
|
|
1,251 |
|
Accumulated other comprehensive loss |
|
|
(1,293 |
) |
|
|
(1,376 |
) |
Total shareholders’ equity |
|
|
598,730 |
|
|
|
336,860 |
|
Total liabilities and shareholders’ equity |
|
$ |
925,315 |
|
|
$ |
458,629 |
|
Non-GAAP Financial Measures
The following tables present reconciliations of various financial measures calculated in accordance with
Adjusted Gross Profit and Adjusted Gross Margin
|
|
Three Months Ended |
||||||||||||||
(Unaudited, |
|
2023 |
|
|
|
|
|
|
Pro Forma
|
|||||||
Gross profit |
|
$ |
136,630 |
|
|
$ |
89,176 |
|
|
$ |
38,515 |
|
|
$ |
127,691 |
|
Share-based compensation expense |
|
|
462 |
|
|
|
217 |
|
|
|
102 |
|
|
|
319 |
|
|
|
|
214 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Strategic investments |
|
|
125 |
|
|
|
439 |
|
|
|
— |
|
|
|
439 |
|
Acquisition-related fair value adjustments |
|
|
7,037 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Amortization/Depreciation of Acquired Long-Lived Assets |
|
|
372 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Medical device regulation |
|
|
(72 |
) |
|
|
1 |
|
|
|
— |
|
|
|
1 |
|
Adjusted gross profit |
|
$ |
144,768 |
|
|
$ |
89,833 |
|
|
$ |
38,617 |
|
|
$ |
128,450 |
|
Adjusted gross margin |
|
|
72.2 |
% |
|
|
73.5 |
% |
|
|
60.2 |
% |
|
|
68.9 |
% |
|
|
Year Ended |
||||||||||||||
(Unaudited, |
|
2023 |
|
|
|
|
|
|
Pro Forma
|
|||||||
Gross profit |
|
$ |
486,273 |
|
|
$ |
337,169 |
|
|
$ |
141,834 |
|
|
$ |
479,003 |
|
Share-based compensation expense |
|
|
1,878 |
|
|
|
827 |
|
|
|
365 |
|
|
|
1,192 |
|
|
|
|
6,861 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Strategic investments |
|
|
389 |
|
|
|
1,334 |
|
|
|
— |
|
|
|
1,334 |
|
Acquisition-related fair value adjustments |
|
|
36,044 |
|
|
|
— |
|
|
|
208 |
|
|
|
208 |
|
Amortization/Depreciation of Acquired Long-Lived Assets |
|
|
1,196 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Medical device regulation |
|
|
604 |
|
|
|
15 |
|
|
|
— |
|
|
|
15 |
|
Adjusted gross profit |
|
$ |
533,245 |
|
|
$ |
339,345 |
|
|
$ |
142,407 |
|
|
$ |
481,752 |
|
Adjusted gross margin |
|
|
71.4 |
% |
|
|
73.7 |
% |
|
|
59.3 |
% |
|
|
68.7 |
% |
Adjusted EBITDA
|
|
Three Months Ended |
|||||||||||||||||
(Unaudited, |
|
2023 |
|
|
|
|
|
|
|
|
|
|
Pro Forma
|
||||||
Loss before income taxes |
|
$ |
(22,049 |
) |
|
$ |
(6,987 |
) |
|
$ |
(20,287 |
) |
|
$ |
(27,274 |
) |
|||
Interest expense, net |
|
|
4,500 |
|
|
|
229 |
|
|
|
202 |
|
|
|
431 |
|
|||
Depreciation and amortization |
|
|
13,969 |
|
|
|
7,421 |
|
|
|
4,349 |
|
|
|
11,770 |
|
|||
Share-based compensation expense |
|
|
3,167 |
|
|
|
4,923 |
|
|
|
3,412 |
|
|
|
8,335 |
|
|||
Foreign exchange impact |
|
|
(2,638 |
) |
|
|
(4,195 |
) |
|
|
(147 |
) |
|
|
(4,342 |
) |
|||
|
|
|
2,261 |
|
|
9,073 |
|
|
2,616 |
|
|
|
11,689 |
|
|||||
Strategic investments |
|
|
389 |
|
|
|
771 |
|
|
|
(16 |
) |
|
|
755 |
|
|||
Acquisition-related fair value adjustments |
|
|
6,486 |
|
|
|
200 |
|
|
|
— |
|
|
|
200 |
|
|||
(Gain) loss on investments |
|
|
1,781 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|||
Litigation and investigation costs |
|
|
8,842 |
|
|
|
337 |
|
|
|
1,066 |
|
|
|
1,403 |
|
|||
Medical device regulation |
|
|
1,927 |
|
|
|
3,481 |
|
|
|
— |
|
|
|
3,481 |
|
|||
Business interruption - COVID-19 |
|
|
— |
|
|
|
513 |
|
|
|
— |
|
|
|
513 |
|
|||
Succession charges |
|
|
1,006 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|||
Spinal set instrument replacement expense |
|
|
— |
|
|
|
— |
|
|
|
2,630 |
|
|
|
2,630 |
|
|||
European sales and marketing organization restructuring |
|
|
— |
|
|
|
— |
|
|
|
426 |
|
|
|
426 |
|
|||
Adjusted EBITDA |
|
$ |
19,641 |
|
|
$ |
15,766 |
|
|
$ |
(5,749 |
) |
|
$ |
10,017 |
|
|||
|
|
Year Ended |
|||||||||||||||||
(Unaudited, |
|
2023 |
|
|
|
|
|
|
|
|
|
|
Pro Forma
|
||||||
Loss before income taxes |
|
$ |
(148,679 |
) |
|
$ |
(17,706 |
) |
|
$ |
(67,324 |
) |
|
$ |
(85,030 |
) |
|||
Interest expense, net |
|
|
8,631 |
|
|
|
1,288 |
|
|
|
644 |
|
|
|
1,932 |
|
|||
Depreciation and amortization |
|
|
53,063 |
|
|
|
29,019 |
|
|
|
17,187 |
|
|
|
46,206 |
|
|||
Share-based compensation expense |
|
|
35,707 |
|
|
|
18,443 |
|
|
|
13,584 |
|
|
|
32,027 |
|
|||
Foreign exchange impact |
|
|
(1,581 |
) |
|
|
3,291 |
|
|
|
387 |
|
|
|
3,678 |
|
|||
|
|
|
36,623 |
|
|
|
12,010 |
|
|
|
4,028 |
|
|
|
16,038 |
|
|||
Strategic investments |
|
|
2,272 |
|
|
|
4,018 |
|
|
|
362 |
|
|
|
4,380 |
|
|||
Acquisition-related fair value adjustments |
|
|
33,393 |
|
|
|
(15,595 |
) |
|
|
208 |
|
|
|
(15,387 |
) |
|||
(Gain) loss on investments |
|
|
1,781 |
|
|
|
188 |
|
|
|
— |
|
|
|
188 |
|
|||
Litigation and investigation costs |
|
|
14,453 |
|
|
|
803 |
|
|
|
1,610 |
|
|
|
2,413 |
|
|||
Medical device regulation |
|
|
9,446 |
|
|
|
10,261 |
|
|
|
— |
|
|
|
10,261 |
|
|||
Business interruption - COVID-19 |
|
|
— |
|
|
|
2,387 |
|
|
|
— |
|
|
|
2,387 |
|
|||
Succession charges |
|
|
1,176 |
|
|
|
146 |
|
|
|
— |
|
|
|
146 |
|
|||
Spinal set instrument replacement expense |
|
|
— |
|
|
|
— |
|
|
|
7,179 |
|
|
|
7,179 |
|
|||
European sales and marketing organization restructuring |
|
|
— |
|
|
|
— |
|
|
|
984 |
|
|
|
984 |
|
|||
Adjusted EBITDA |
|
$ |
46,285 |
|
|
$ |
48,553 |
|
|
$ |
(21,151 |
) |
|
$ |
27,402 |
|
|||
Cash Flow and Free Cash Flow
|
|
Year Ended |
|||||||||||||||||
(Unaudited, |
|
2023 |
|
|
|
|
|
|
|
|
|
Pro Forma
|
|||||||
Net cash from operating activities |
|
$ |
(45,753 |
) |
|
$ |
(11,538 |
) |
|
$ |
(38,157 |
) |
|
$ |
(49,695 |
) |
|||
Net cash from investing activities |
|
|
(33,131 |
) |
|
|
(24,534 |
) |
|
|
(40,325 |
) |
|
|
(64,859 |
) |
|||
Net cash from financing activities |
|
|
65,322 |
|
|
|
(78 |
) |
|
|
24,654 |
|
|
|
24,576 |
|
|||
Effect of exchange rate changes on cash |
|
|
619 |
|
|
|
(997 |
) |
|
|
140 |
|
|
|
(857 |
) |
|||
Net change in cash, cash equivalents, and restricted cash |
|
$ |
(12,943 |
) |
|
$ |
(37,147 |
) |
|
$ |
(53,688 |
) |
|
$ |
(90,835 |
) |
|||
|
|
Year Ended |
|||||||||||||||||
(Unaudited, |
|
2023 |
|
|
|
|
|
|
|
|
|
Pro Forma
|
|||||||
Net cash from operating activities |
|
$ |
(45,753 |
) |
|
$ |
(11,538 |
) |
|
$ |
(38,157 |
) |
|
$ |
(49,695 |
) |
|||
Capital expenditures |
|
|
(62,050 |
) |
|
|
(23,160 |
) |
|
|
(37,752 |
) |
|
|
(60,912 |
) |
|||
Free cash flow |
|
$ |
(107,803 |
) |
|
$ |
(34,698 |
) |
|
$ |
(75,909 |
) |
|
$ |
(110,607 |
) |
|||
Net Income and EPS
|
|
Three Months Ended |
|||||||||||||||||
(Unaudited, |
|
2023 |
|
|
|
|
|
|
|
|
|
Pro Forma
|
|||||||
Net loss |
|
$ |
(22,174 |
) |
|
$ |
(7,062 |
) |
|
$ |
(18,958 |
) |
|
$ |
(26,020 |
) |
|||
Weighted average shares outstanding (in millions) |
|
|
37.3 |
|
|
|
20.2 |
|
|
|
15.4 |
|
|
|
35.6 |
|
|||
EPS |
|
$ |
(0.59 |
) |
|
$ |
(0.35 |
) |
|
$ |
(1.23 |
) |
|
$ |
(0.73 |
) |
|||
|
|
Year Ended |
|||||||||||||||||
(Unaudited, |
|
2023 |
|
|
|
|
|
|
|
|
|
Pro Forma
|
|||||||
Net loss |
|
$ |
(151,395 |
) |
|
$ |
(19,749 |
) |
|
$ |
(65,009 |
) |
|
$ |
(84,758 |
) |
|||
Weighted average shares outstanding |
|
|
36.7 |
|
|
|
20.1 |
|
|
|
15.4 |
|
|
|
35.5 |
|
|||
EPS |
|
$ |
(4.12 |
) |
|
$ |
(0.98 |
) |
|
$ |
(4.22 |
) |
|
$ |
(2.39 |
) |
View source version on businesswire.com: https://www.businesswire.com/news/home/20240305883308/en/
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