GMED
Globus Medical, Inc.85.79
-0.71-0.82%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
FY Q3 '25
Enabling Tech leases delay revenue
Q&A clarified Enabling Tech's 27% drop as hospitals shift to leases and pay-per-click models, delaying upfront revenue despite a robust pipeline—deals still mostly cash but mix rising. U.S. Spine's broad acceleration ties to aggressive competitive rep hiring, now a top priority under new leadership. Nevro hit 16.2% EBITDA via R&D/SG&A cuts, targeting gross margins into the 70s and adjacencies like peripheral nerve and diabetic neuropathy. Management dodged 2026 specifics. Answers largely reaffirm upbeat script. Pipeline strong, cash flows tell.
Key Stats
Market Cap
11.59BP/E (TTM)
27.76Basic EPS (TTM)
3.09Dividend Yield
0%Recent Filings
8-K
Record Q4 sales, 2026 guidance
Globus Medical reported preliminary Q4 2025 sales of $823.2M, up 25.2% from Q4 2024, with full-year sales at $2.936B, up 16.5%. Base business excluding Nevro hit $723.3M, up 10.0%, fueled by US Spine gains and Enabling Technologies peak. Issued 2026 guidance of $3.18B-$3.22B revenue, $4.30-$4.40 non-GAAP EPS. Integration rolls on.
8-K
Q3 sales up 23%
10-Q
Q3 FY2025 results
Globus Medical posted Q3 net sales of $769M, up 22.9% y/y, driven by $769K Musculoskeletal Solutions (96% of sales) while Enabling Technologies dipped. Operating income jumped to $137M from $48M y/y as cost of sales fell 6.6% to 32.8% of sales, aided by lower inventory step-up amortization; diluted EPS held at $0.88 despite buybacks, reconciling to 135M shares. Cash from operations hit $505M YTD, funding $256M Nevro Merger closed April 2025 for $253M cash (recognizing $114M bargain purchase gain from deferred tax assets) and $255M stock repurchases, leaving $372M cash and $400M revolver available. Debt-free post-2025 Notes payoff. Patent suits loom.
8-K
Q2 sales soar 18.4% post-Nevro
Globus Medical reported Q2 2025 net sales of $745.3 million, up 18.4% year-over-year, fueled by the recent Nevro acquisition adding $94.6 million while base business grew 3.3%. US Spine surged 5.7%, but Enabling Technologies dipped slightly amid integration pushes. Non-GAAP diluted EPS hit a record $0.86, up 14.1%, yet GAAP figures swelled from a $110.6 million bargain purchase gain. The company closed Nevro and eyes synergies, reaffirming 2025 revenue guidance of $2.80-2.90 billion. Synergy execution poses integration risks.
10-Q
Q2 FY2025 results
Globus Medical's Q2 FY2025 results showed net sales climbing 18.4% y/y to $745.3M, fueled by the April Nevro acquisition adding $94.6M in revenue, while musculoskeletal solutions grew 19.7% y/y to $710.2M; U.S. sales surged 20.3% y/y, outpacing international's 11.0% y/y rise. Operating income jumped to $76.1M from $49.6M y/y, with gross margin expanding to 66.6% from 58.7% amid lower inventory step-up amortization, though SG&A swelled 26.8% y/y on integration costs. Diluted EPS hit $1.49, up from $0.23 y/y, reconciling to 136.5M weighted shares; the $110.6M bargain purchase gain from Nevro's deferred tax assets boosted net income to $202.8M. Cash dipped to $229.4M after $450M note repayment and $215.4M stock buybacks, yet operating cash flow strengthened to $255.2M YTD. Closed Nevro in April 2025 for $252.5M cash, recognizing $53.6M intangibles over 8-15 years. Patent disputes linger as a key risk.
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