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Jun 30, 2023
Globus Medical Q2 2023 Earnings Report
Globus Medical achieved record quarterly revenue, with a 10.6% increase year-over-year, and non-GAAP EPS increased by 12.3%.
Key Takeaways
Globus Medical reported a record quarter with a revenue of $291.6 million, representing a 10.6% increase compared to the second quarter of 2022. The company's GAAP net income increased by 5.7% year-over-year to $57.7 million, with diluted EPS at $0.57 and non-GAAP diluted EPS at $0.63. The company increased its full year 2023 net sales guidance to $1.125 billion and reaffirmed non-GAAP diluted earnings per share of $2.30.
Worldwide net sales increased by 10.6% to $291.6 million.
GAAP net income for the quarter was $57.7 million.
GAAP diluted EPS was $0.57, while non-GAAP diluted EPS was $0.63.
Non-GAAP adjusted EBITDA was $96.1 million, representing 33.0% of net sales.
Globus Medical
Globus Medical
Globus Medical Revenue by Segment
Globus Medical Revenue by Geographic Location
Revenue by Segment
Musculoskeletal Solutions Revenue
CapyFin.comEnabling Technologies Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
The Company today increased its full year 2023 net sales guidance to $1.125 billion, up from $1.100 billion, and reaffirmed non-GAAP diluted earnings per share of $2.30.
Revenue & Expenses
Visualization of income flow from segment revenue to net income