AUDUBON, PA — Globus Medical, Inc. (NYSE: GMED) has announced its financial results for the first quarter of 2025, reporting revenue of $598.1 million, a decline of 1.4% compared to the same period in 2024. On a constant currency basis, the decrease narrowed to 0.8%. The company attributed the drop to softer sales of enabling technology, supply chain disruptions, and timing issues with international distributor orders, partially mitigated by robust growth in the core U.S. spine business.
“Our first quarter results were impacted by softer Enabling Technology deal closures, temporary integration-related supply chain disruption, and timing of international distributor orders, partially offset by strength in our core U.S. spine business,” said Dan Scavilla, President and CEO of Globus Medical. “[We] remain confident in our ability to drive above-market revenue growth as we move forward.”
Despite the slight revenue decline, GAAP net income surged to $75.5 million, compared to a net loss in the prior-year quarter. GAAP diluted earnings per share (EPS) was $0.54, while non-GAAP diluted EPS rose to $0.68, reflecting an 8.5% increase from $0.63 in Q1 2024. The results were bolstered by reduced amortization and restructuring costs compared to the same period last year.
Globus Medical retained its full-year revenue guidance of $2.80 to $2.90 billion but slightly lowered its non-GAAP diluted EPS outlook to a range of $3.00 to $3.30 from an earlier estimate of $3.10 to $3.40.
Keith Pfeil, Chief Operating and Financial Officer, noted the company’s significant steps toward fortifying its financial position, stating, “During the quarter, we returned to a debt-free status, as we paid off the remaining $450 million of debt assumed from the NuVasive merger. We delivered record Q1 free cash flow, while continuing to drive significant investments in machinery, equipment, and sets.”
U.S. net sales grew modestly by 0.2% year over year, while international sales decreased by 7.7%, a decline softened to 4.6% on a constant currency basis. Net cash from operations totaled $177.3 million for the quarter, supporting continued investment in internal manufacturing capabilities and long-term growth initiatives.
Looking ahead, Globus Medical emphasized its commitment to innovation, aiming to deliver clinically advanced products and solutions to help surgeons enhance patient care while executing its strategic growth plan.
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