The Q2 earnings season for 2026 is in the books for the orthopedics and spine sector, and the results paint a picture of a market still growing steadily despite tariff pressure, cyber-attack recovery costs and ongoing structural shakeups.
Stryker
Revenue: $6.59 billion, up 9.4% year over year
Adjusted operating income: $1.81 billion, a 27.4% margin (GAAP operating margin 25.2%)
Net income: $1.28 billion (GAAP), up 44.3% year over year
Read more about Stryker’s Q2 earnings here.
Zimmer Biomet
Revenue: $2.18 billion, up 4.8% year over year
Adjusted operating income margin: 25.7%, down 210 basis points year over year
Net income: $198.3 million (GAAP), up from $152.8 million a year ago
Read more about Zimmer Biomet Q2 earnings here.
Alphatec
Revenue: $214 million, up 15% year over year
Adjusted EBITDA: $36 million, a 16.8% margin
Net loss : $26 million (GAAP net loss); non-GAAP net income was $11 million
Read more about Alphatec’s Q2 earnings here.
Globus Medical
Revenue: $789.6 million, up 5.9% year over year
Adjusted EBITDA: $279.8 million, a 35.4% margin (up 740 basis points year over year)
Net income: $151.6 million (GAAP); non-GAAP EPS of $1.34 was up 55.8% year over year
Read more about Globus Medical’s Q2 earnings here.
Orthofix
Revenue: $210.9 million, up 4% year over year
Adjusted EBITDA: $20.1 million, a 9.6% margin, down from $20.6 million year over year
Net loss: $15.8 million (GAAP), down from a $14.1 million loss year over year
Read more about Orthofix’s Q2 earnings here.
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