Globus Medical Q2 2021 Earnings Report
Key Takeaways
Globus Medical reported record revenue of $251 million for Q2 2021, a 69% increase year-over-year. The company's U.S. Spine business grew significantly, and Enabling Technologies revenue nearly quadrupled. GAAP net income and EPS also saw substantial increases.
Worldwide net sales reached $251.0 million, a 68.6% increase compared to Q2 2020.
GAAP net income for the quarter was $41.5 million, representing 16.6% of net sales, a 299.4% increase year-over-year.
GAAP diluted earnings per share (EPS) was $0.40, and non-GAAP diluted EPS was $0.56.
Non-GAAP adjusted EBITDA was $87.8 million, or 35.0% of net sales.
Globus Medical
Globus Medical
Globus Medical Revenue by Segment
Globus Medical Revenue by Geographic Location
Forward Guidance
The company increased guidance for full year 2021 net sales from $925 million to $950 million and non-GAAP diluted earnings per share of $1.89 to $2.00.
Revenue & Expenses
Visualization of income flow from segment revenue to net income