Orthofix Medical Inc. (NASDAQ:OFIX) Q3 2023 Earnings Call Transcript

Cathy Burzik: So I’d say I meet regularly now with the sales leaders, trying to understand the funnel, trying to understand any distributor relationships that are up for renewal. I think it’s fair to say it’s an all-hands-on process at this point. I think you know we have very strong leadership at the top of the sales organization that are dealing with distributors, both new distributors and past distributors. And as I said, right now, we’re confident in moving forward with the pipeline that we have and the distributors that we have. We obviously have built additional inventory. We’ve talked about that in past calls. Our spinal steps are in the process of rolling out now, so we can definitely get inventory into the hands of our new distributors as well as updated inventory and sets to our existing distributors as we renew them going forward.

So I guess the short answer is I see things being very stable at this point in time. And as I mentioned, what we see right now is just a short term — we think it’s a relatively near-term slowdown in decision-making.

Mathew Blackman: Okay. And Cathy, just a follow up to that last point, this is my last question, I swear. And you, I think, mentioned it to some extent, but obviously, you’ve got more instrument sets available obviously going to your new distributors. But what’s your expectation or hope — your ability to use some of those sets to potentially onboard new distributors? Is that a possibility here even in the midst of this uncertainty?

Cathy Burzik: Yeah. We’re already onboarding numerous new distributors. I hear about this weekly at our meeting. So yeah, we are onboarding many new distributors. We’re providing our sets to the distributors so that entire process is rolling forward as planned.

Mathew Blackman: Okay. Thank you so much.

Cathy Burzik: You’re welcome.

Operator: All right. Actually, that looks like our last question. We had somebody on the line, but they dropped off. Okay. I would now like to turn the call back over to Cathy Burzik for closing comments.

Cathy Burzik: All right. Well, thank you very much. We’re really pleased that all of you could join us this afternoon for the conference call, and have a good rest of the day. Thank you very much. Take care.

Operator: This concludes today’s call. Have a pleasant day.