Globus Medical Reports Q1 2025: Net Sales Down 1.4%, GAAP Net Income Rises to $75.5M, EPS at $0.54
Globus Medical reported Q1 2025 financial results with net sales of $598.1 million, down 1.4% year-over-year. GAAP net income rose to $75.5 million, with EPS at $0.54, recovering from a loss of $0.05 in Q1 2024. U.S. sales increased slightly by 0.2%, while international sales fell by 7.7%. The company reaffirmed its 2025 revenue guidance of $2.80 to $2.90 billion and updated non-GAAP EPS guidance to $3.00 to $3.30. The results were impacted by fewer enabling technology sales and supply chain disruptions, but offset by strong U.S. spine performance.
Globus Medical, Inc. announced its financial results for the first quarter of 2025, reporting worldwide net sales of $598.1 million, a decrease of 1.4% compared to the same period in 2024. On a constant currency basis, the decrease was 0.8%. U.S. net sales saw a slight increase of 0.2%, while international net sales fell by 7.7% on an as-reported basis and by 4.6% on a constant currency basis. The decline in net sales was attributed primarily to fewer enabling technology unit sales. The company reported a GAAP net income of $75.5 million for the quarter, marking an increase from the previous year. This improvement was primarily driven by a reduction in amortization costs related to purchase accounting and restructuring costs. The GAAP diluted earnings per share (EPS) was $0.54, a significant recovery from a loss of $0.05 per share in the first quarter of 2024. Non-GAAP diluted EPS increased to $0.68, up from $0.63 in the same quarter of the previous year. Globus Medical also reported net cash provided by operating activities of $177.3 million and a non-GAAP free cash flow of $141.2 million for the quarter. The company reaffirmed its full-year 2025 revenue guidance to be in the range of $2.80 to $2.90 billion and updated its non-GAAP fully diluted earnings per share guidance to be between $3.00 and $3.30. The first quarter results were influenced by softer Enabling Technology deal closures, temporary integration-related supply chain disruptions, and timing issues with international distributor orders, but these were partially offset by strong performance in the core U.S. spine business.
