Globus Medical, Inc. Q3 2026 Earnings Recap

Globus Medical fell 12.8% after earnings, as investors likely focused on near-flat total revenue, only 2% U.S. Spine growth, and delayed product launches and production issues that management said are limiting growth until 2027. Nevro’s 25.7% decline added to the drag, despite growth in enabling technologies and higher EPS.

Key Takeaways

• Q3 revenue was $763.7 million, down 0.7% reported and 0.5% in constant currency. Base business excluding Nevro grew 3% to $690 million; Nevro revenue fell 25.7% to $73.7 million.
• U.S. Spine grew 2%. Management attributed the slowdown to delayed product launches, lingering production issues and lower contributions from competitive recruiting; it expects launches to support growth entering 2027.
• Enabling Technologies revenue rose 24% to $34.9 million. EGPS and eHub units deployed, including sold, leased or rented units, increased 73% year over year.
• Non-GAAP EPS was $1.23, up 4% year over year, and free cash flow reached a record $225 million despite a 13% increase in capital expenditures.
• The company repurchased 1.9 million shares for $143 million. SCRIPT implants and rods are available; the XLIF Prone Solution and 2-Blade Retractor are expected later this quarter, while EIQ is in final introduction stages and is expected to contribute meaningfully in 2027 and beyond.