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Sep 30, 2023
Globus Medical Q3 2023 Earnings Report
Globus Medical's financial results increased following the merger with NuVasive.
Key Takeaways
Globus Medical reported a 51.0% increase in worldwide net sales to $383.6 million for Q3 2023, driven by the recent merger with NuVasive. GAAP net income was $1.0 million, with a diluted EPS of $0.01, while non-GAAP diluted EPS reached $0.57. The company has increased its full year revenue guidance to $1.55 billion and reaffirmed its non-GAAP EPS guidance.
Worldwide net sales increased by 51.0% to $383.6 million.
GAAP net income was $1.0 million, a 97.9% decrease year-over-year.
GAAP diluted EPS was $0.01, while non-GAAP diluted EPS was $0.57.
Non-GAAP adjusted EBITDA was $112.9 million, representing 29.4% 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 increased its full year fiscal 2023 revenue guidance to $1.55 billion and reaffirmed non-GAAP fully diluted earnings per share guidance of $2.30.
Positive Outlook
- Increased full year fiscal 2023 revenue guidance to $1.55 billion.
- Reaffirmed non-GAAP fully diluted earnings per share guidance of $2.30.
- Completed merger with NuVasive, Inc.
- Focused on executing integration plan.
- Long-term business plan remains unchanged.
Challenges Ahead
- Risks associated with the integration of NuVasive business.
- Health epidemics, pandemics and similar outbreaks, including the COVID-19 pandemic.
- Factors affecting quarterly results.
- Ability to manage growth and sustain profitability.
- Demand for products and ability to compete successfully.
Revenue & Expenses
Visualization of income flow from segment revenue to net income