AUDUBON, PA — Globus Medical, Inc. (NYSE: GMED) reported a strong second quarter with revenue and profit growth fueled by solid performance in its U.S. Spine business and momentum across its core portfolio. The company posted worldwide net sales of $745.3 million, an 18.4% increase over the same period last year, or 17.6% in constant currency.
GAAP net income for the quarter reached $202.8 million, representing a more than fivefold increase from the prior year. This sharp rise was largely driven by a $110.6 million bargain purchase gain and a $34.8 million tax benefit from the release of a valuation allowance on deferred tax assets. GAAP diluted earnings per share stood at $1.49, while non-GAAP diluted EPS rose 14.1% to $0.86.
“Q2 results were led by our US Spine business, growing 5.7%, as reported and 7.4% on a day-adjusted basis. US Spine had sustained momentum during the quarter, posting its highest sequential revenue growth since the second quarter of 2022,” said Keith Pfeil, President and Chief Executive Officer.
Pfeil also noted: “Enabling Technologies showed a modest bounce back in Q2, while we remain focused on accelerating deal timelines from our pipeline to make robotic assisted surgery the standard of care moving ahead.”
Looking forward, Pfeil emphasized the company’s strategic focus: “Our long-term strategy remains unchanged, as we continue to focus on new product launches, driving organic growth, competitive rep recruiting to expand our sales force and robotic account pull through. We remain steadfast on those focal areas, while working to finalize integration efforts from our recent M&A activity in a manner that demonstrates topline growth and financial prudence.”
CFO Kyle Kline added: “We achieved record quarterly non-GAAP earnings per share this quarter, driven by the Globus base business. In addition, we closed the Nevro acquisition and began diligently working to identify and execute synergy actions.”
Kline expressed optimism about the second half of the year, stating: “We remain well positioned to build on the strength of the second quarter and to deliver on our commitments in the second half of 2025.”
International net sales increased by 11.0% year-over-year on a reported basis and 7.5% on a constant currency basis. Net cash from operating activities totaled $77.9 million for the quarter, while non-GAAP free cash flow was $31.3 million.
Globus reaffirmed its full-year 2025 guidance, maintaining projected revenue between $2.80 billion and $2.90 billion and non-GAAP diluted EPS in the range of $3.00 to $3.30.
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