Did Globus Medical beat or miss consensus estimates last quarter?

What were the key takeaways from Globus Medical's earnings call?

What factors drove the changes in Globus Medical's revenue and profit?

What were the key takeaways from Globus Medical’s earnings call?

What is the market's earnings forecast for Globus Medical next quarter?

What does Globus Medical do and what are its main business segments?

What is Globus Medical's gross profit margin?

What guidance did Globus Medical's management provide for the next earnings period?

- **Record Q3 Growth**: $769M revenue (+22.9% YoY), $1.18 non-GAAP EPS (+42.6%), and $213.9M free cash flow.
- **Base Business Strength**: 35.3% EBITDA margin, 7% day-adjusted U.S. Spine growth, and 17.2% Trauma revenue surge.
- **Nevro Turnaround**: 16.2% EBITDA margin vs. -1.4% Q2, with sequential sales growth and $8.5M free cash flow.
- **Updated Guidance**: FY25 revenue $2.86-2.9B (+13.5-15.1%), EPS $3.75-3.85 (+23.2-26.5%).
- **Strategic Shifts**: Flexible capital models (leases/PPC) to drive implant growth, 32 weeks of U.S. Spine momentum.

**【CEO Summary Section】**
- Q3 2025 revenue reached $769 million, up 22.9% YoY, driven by U.S. Spine growth (9.6%) and Nevro's $99.3 million contribution.
- Base business EBITDA margin expanded to 35.3%, with Nevro achieving 16.2% EBITDA margin, up from negative 1.4% in Q2.
- U.S. Spine logged 32 weeks of consecutive growth, fueled by competitive rep hiring and product portfolio expansion.
- Enabling Technologies revenue declined 27% due to slower EGPS sales, but pipeline strength remains.
- International Spine grew 5.6% on day-adjusted basis, with EMEA and APAC regions showing momentum.
- Trauma business hit record Q3 revenue, resolving prior manufacturing challenges.

**【CFO Financial Commentary】**
- GAAP net income: $119 million; non-GAAP EPS: $1.18 (42.6% YoY growth).
- Free cash flow: $213.9 million, highest quarterly level on record.
- Adjusted gross margin: 68.1%, up 160 bps YoY, driven by synergy execution.
- R&D/Sales: 4.9% (down 0.1% YoY); SG&A/Sales: 40.8% (up 2.4% YoY due to one-time litigation charges).
- Updated FY25 guidance: Revenue $2.86-2.9B (13.5-15.1% growth), EPS $3.75-3.85 (23.2-26.5% growth).

**【Q&A Key Highlights】**
- **U.S. Spine Sustainability**: 32 weeks of growth driven by implant pull-through, competitive rep hiring, and robotic adoption.
- **Nevro Margin Progression**: Sequential sales growth and 16.2% EBITDA margin; targeting mid-70s gross margin by 2026.
- **Capital Sales Strategy**: Shifting to leases/PPC models to accelerate implant growth, with 2025 Q3 showing higher rental/lease mix.
- **2026 Outlook**: Base business EBITDA near mid-30s, Nevro accretive to EPS, and international spine growth 10-15%.
- **Robot Pipeline**: ExcelsiusXR launch and FDA-cleared ExcelsiusGPS instruments for expanded interbody fusion use.

GMED

GMED fundamentals

You can ask Aime