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Sep 30, 2024
Globus Medical Q3 2024 Earnings Report
Globus Medical's Q3 2024 results reflected strong sales growth and earnings, driven by the addition of NuVasive and increased volume of spine and enabling technology products.
Key Takeaways
Globus Medical reported a strong third quarter with worldwide net sales of $625.7 million, a 63.1% increase year-over-year. GAAP net income was $51.8 million, and non-GAAP diluted EPS was $0.83. The company raised its full-year revenue guidance to $2.49 to $2.50 billion and non-GAAP EPS guidance to $2.90 to $3.00.
Worldwide net sales increased by 63.1% to $625.7 million.
GAAP net income was $51.8 million, with diluted EPS at $0.38.
Non-GAAP diluted EPS increased by 45.2% to $0.83.
Non-GAAP adjusted EBITDA was $193.7 million, representing 31.0% 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
Globus Medical raised its guidance for full year 2024 revenue to be in the range of $2.49 to $2.50 billion, and non-GAAP fully diluted earnings per share to be in the range of $2.90 to $3.00. The revised non-GAAP fully diluted earnings per share guidance includes a $0.09 impact of no longer adjusting for the acquisition of in-process research and development.
Revenue & Expenses
Visualization of income flow from segment revenue to net income