Globus Medical’s third quarter sales hit $760 million, a 22.9% increase year over year, according to financial results posted Nov. 6.
Five things to know:
1. Revenue growth was driven by a 10% increase in the U.S. spine business, CEO Keith Pfeil, said in a news release.
2. U.S sales grew 24.6% year over year, and international sales increased 16.5% year over year.
3. Net income for the third quarter was $119 million, up 129.5% year over year. The increase was primarily driven by higher sales related to the Nevro acquisition.
4. The company increased its full-year guidance to be in the range of $2.86 billion to $2.9 billion.
5. “Strength in revenue translated into enhanced earnings and profitability, with meaningful improvements in adjusted gross margins and operating expenses, reflecting both synergy capture and operating leverage from the NuVasive merger and Nevro acquisition,” Mr. Pfeil said in the release. “Looking ahead, we remain focused on finishing 2025 strong, with a clear path toward consistent organic growth through innovation, disciplined execution and delivering differentiated technologies that improve patient outcomes.”
