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Sep 30, 2020
Globus Medical Q3 2020 Earnings Report
Globus Medical's Q3 2020 performance was marked by record revenue and earnings, driven by U.S. Spine business growth and strong Adjusted EBITDA and Cash Flow.
Key Takeaways
Globus Medical reported a strong third quarter with a 10.1% increase in worldwide net sales to $216.1 million and GAAP net income rising by 15.4% to $44.2 million. Diluted EPS was $0.44, and non-GAAP diluted EPS was $0.49. The U.S. Spine business grew by 17%, offsetting a decline in Enabling Technologies revenue. The company generated $53.2 million in net cash from operating activities and $35.9 million in non-GAAP free cash flow.
Worldwide net sales increased by 10.1% to $216.1 million compared to Q3 2019.
GAAP net income rose by 15.4% to $44.2 million compared to Q3 2019.
Diluted EPS was $0.44, with non-GAAP diluted EPS at $0.49.
Non-GAAP adjusted EBITDA was 34.8% 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
Globus Medical withdrew full year 2020 guidance due to the continued uncertainties resulting from the COVID-19 pandemic.
Revenue & Expenses
Visualization of income flow from segment revenue to net income