Globus Medical, Inc.

Globus Medical, Inc. Earnings Recaps

GMED Health Care 2 recaps
Q1 2026 May 9, 2026

Shares declined 12.6% as investors reacted negatively to a cautious revenue mix shift and softer growth in Enabling Technologies, signaling concerns over decelerating upfront sales and a more conservative capital equipment approach.

Key takeaways
  • Total Q1 revenue rose 27% to $759.9 million, with base business growth at 13.2%, led by a resilient 10% increase in U.S. Spine sales.
  • Enabling Technologies revenue grew 21% to $26.9 million but showed a sequential step down; management highlighted a shift from upfront sales to leases and rentals, reducing near-term revenue recognition.
  • International Spine sales increased 16.4% reported (9.8% constant currency), benefiting from easing prior-year supply chain disruptions primarily in EMEA and Latin America.
  • The recurring revenue strategy focusing on implant pull-through and service was reiterated, but execution risks remain amid rising competitive pressures in robotics and evolving capital acquisition models.
  • Despite strong free cash flow and margin expansion commentary, the market appears concerned about slower near-term visibility and the impact of a more cautious guidance posture embedded in the revenue mix.
Full recap
Q3 2025 Nov 8, 2025

Globus Medical reported a robust Q3 2025, with sales increasing 22.9% to $769 million and non-GAAP EPS jumping 42.6% to $1.18, driven by strong growth in both the U.S. and international spine markets.

Key takeaways
  • Base business revenue rose to $669.8 million, with an adjusted EBITDA margin improvement of 435 basis points to 35.3%.
  • Free cash flow reached a record $213.9 million, underlining operational efficiency and strong cash generation.
  • The U.S. Spine segment grew by 9.6%, maintaining positive momentum with 32 consecutive weeks of growth.
  • The recently acquired Nevro business contributed $99.3 million in revenue, enhancing overall business expansion.
  • Strategic share repurchases totaled $40 million during the quarter, reflecting confidence in long-term growth and shareholder value.
Full recap