Globus Medical Reports Second Quarter 2025 Results

AUDUBON, Pa., Aug. 07, 2025 (GLOBE NEWSWIRE) -- Globus Medical, Inc. (NYSE: GMED), a leading musculoskeletal solutions company, today announced its financial results for the quarter ended June 30, 2025. Worldwide net sales were $745.3 million, an increase of 18.4%, or an increase of 17.6% on a constant currency basisGAAP net income for the quarter was $202.8 millionGAAP diluted earnings per share (“EPS”) was $1.49 and non-GAAP diluted EPS was $0.86 “Q2 results were led by our US Spine business, growing 5.7%, as reported and 7.4% on a day-adjusted basis. US Spine had sustained momentum during the quarter, posting its highest sequential revenue growth since the second quarter of 2022,” commented Keith Pfeil, President and Chief Executive Officer. “Enabling Technologies showed a modest bounce back in Q2, while we remain focused on accelerating deal timelines from our pipeline to make robotic assisted surgery the standard of care moving ahead. We continue to step-up investment and output, delivering more product in the hands of our sales reps, while they continue to increase engagement with our surgeon partners, highlighting the clinical superiority of our products. These focused efforts will plant the seeds of driving a return to above market growth across our portfolio. Our long-term strategy remains unchanged, as we continue to focus on new product launches, driving organic growth, competitive rep recruiting to expand our sales force and robotic account pull through. We remain steadfast on those focal areas, while working to finalize integration efforts from our recent M&A activity in a manner that demonstrates topline growth and financial prudence.” “As we enter August, we continue to be encouraged by the momentum of our Globus base business, which posted above market growth in the second quarter. Our second quarter results are a testament of achieving operational efficiency, while focusing on long-term, profitable growth,” commented Kyle Kline, CFO. “We achieved record quarterly non-GAAP earnings per share this quarter, driven by the Globus base business. In addition, we closed the Nevro acquisition and began diligently working to identify and execute synergy actions. We remain well positioned to build on the strength of the second quarter and to deliver on our commitments in the second half of 2025.” Worldwide net sales for the second quarter of 2025 were $745.3 million, an as-reported increase of 18.4% over the second quarter of 2024. U.S. net sales for the second quarter of 2025 increased by 20.3% compared to the second quarter of 2024. International net sales increased by 11.0% over the second quarter of 2024 on an as-reported basis and increased by 7.5% on a constant currency basis. GAAP net income for the second quarter of 2025 was $202.8 million, an increase of 538.7% over the same period in the prior year. The GAAP net income increase was primarily driven by the bargain purchase gain of $110.6 million and the tax benefit of $34.8 million from the release of a valuation allowance on certain deferred tax assets in the current period. Diluted EPS for the second quarter was $1.49, compared to a $0.23 for the second quarter of 2024. Non-GAAP diluted EPS for the second quarter of 2025, which excludes, among other costs, the bargain purchase gain, tax benefit from the valuation allowance release, and acquisition and restructuring-related costs, was $0.86, compared to $0.75 in the second quarter of 2024, an increase of 14.1%. Net cash provided by operating activities was $77.9 million, and non-GAAP free cash flow was $31.3 million for the second quarter of 2025. Retrospectively, as of January 1, 2024, we no longer include acquisition of in-process research and development costs as an adjustment to non-GAAP Adjusted EBITDA or non-GAAP net income. 2025 Annual Guidance The Company reaffirms its guidance for full-year 2025 revenue to be in the range of $2.80 to $2.90 billion and its guidance for non-GAAP fully diluted earnings per share to be in the range of $3.00 to $3.30. Conference Call Information Globus Medical will hold a teleconference to discuss its second quarter 2025 results with the investment community at 4:30 p.m. Eastern Time today. Participants may access the conference call live via webcast on the Investors page of Globus Medical’s website at http://www.investors.globusmedical.com/news-events/events-webcasts. To participate via telephone, please register in advance at this link. Upon registration, all telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number along with a unique passcode and registrant ID that can be used to access the call. The audio archive will be available after the call on the Investor page of the Globus Medical website. About Globus Medical, Inc. Globus Medical, Inc. is a leading global musculoskeletal company dedicated to solving unmet clinical needs and changing lives. We innovate with inspired urgency, provide world-class education and clinical support, and advance care throughout spine, orthopedic trauma, joint reconstruction, biomaterials and enabling technologies. Additional information can be accessed at www.globusmedical.com. Non-GAAP Financial Measures To supplement our financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”), management uses certain non-GAAP financial measures. For example, non-GAAP Adjusted EBITDA, which represents net income before interest income, net and other non-operating expenses, provision for income taxes, depreciation and amortization, stock-based compensation expense, provision for litigation, merger and acquisition related costs, restructuring related costs, certain foreign currency acquisition-related impacts, bargain purchase gains, and gains and losses from strategic investments, is useful as an additional measure of operating performance, and particularly as a measure of comparative operating performance from period to period, as it is reflective of changes in pricing decisions, cost controls and other factors that affect operating performance, and it removes the effect of our capital structure, asset base, income taxes and interest income and expense. We no longer include acquisition of in-process research and development as an adjustment to non-GAAP Adjusted EBITDA. Our management also uses non-GAAP Adjusted EBITDA for planning purposes, including the preparation of our annual operating budget and financial projections. Provision for litigation represents costs incurred for litigation settlements or unfavorable verdicts when the loss is known or considered probable and the amount can be reasonably estimated, or in the case of a favorable settlement, when income is realized. Merger and acquisition related costs represents the change in fair value of business-acquisition-related contingent consideration; costs related to integrating recently acquired businesses, including but not limited to costs to exit or convert contractual obligations, severance, retention bonus, duplicative costs and information system conversion; and specific costs related to the consummation of the acquisition process such as banker fees, legal fees, and other acquisition related professional fees. Restructuring related costs include severance, retention bonus, accelerated stock-based compensation expense, legal and tax fees for legal entity reorganization and costs associated with consolidating facilities. We also adjusted for certain foreign currency impacts related to the acquisition costs and gains/losses on strategic investments within other assets as we believe these impacts are not a measure of our operating performance. In addition, for the period ended June 30, 2025 and for other comparative periods, we are presenting non-GAAP net income and non-GAAP Diluted Earnings Per Share, which represent net income and diluted earnings per share excluding the provision for litigation, amortization of intangibles, merger and acquisition related costs, restructuring related costs, certain foreign currency impacts, gains and losses from strategic investments, bargain purchase gains, certain valuation allowance releases on deferred tax assets, and the tax effects of all of the foregoing adjustments. We no longer include acquisition of in-process research and development as an adjustment to non-GAAP net income. We also present Non-GAAP gross profit, which excludes the impacts of any inventory acquisition-related costs within cost of goods sold. The tax effect adjustment represents the tax effect of the pre-tax non-GAAP adjustments excluded from non-GAAP net income. The tax impact of the non-GAAP adjustments is calculated based on the consolidated effective tax rate on a GAAP basis, applied to the non-GAAP adjustments, unless the underlying item has a materially different tax treatment, in which case the estimated tax rate applicable to the adjustment is used. We believe these non-GAAP measures are also useful indicators of our operating performance, and particularly as additional measures of comparative operating performance from period to period as they remove the effects of the foregoing items, which we believe are not reflective of underlying business trends. Additionally, for the period ended June 30, 2025 and for other comparative periods, we also define the non-GAAP measure of free cash flow as the net cash provided by operating activities, adjusted for the impact of restricted cash, less the cash impact of purchases of property and equipment. We believe that this financial measure provides meaningful information for evaluating our overall financial performance for comparative periods as it facilitates an assessment of funds available to satisfy current and future obligations and fund acquisitions. Furthermore, the non-GAAP measure of constant currency net sales growth is calculated by translating current year net sales at the same average exchange rates in effect during the applicable prior year period. We believe constant currency net sales growth provides insight to the comparative increase or decrease in period net sales, in dollar and percentage terms, excluding the effects of fluctuations in foreign currency exchange rates. We are also presenting base business sales and base Adjusted EBIDTA, excluding the contribution from the recently acquired Nevro, Inc and subsidiaries. We believe these provide insight to how the Company is performing without the impact of our most recent acquisition. Finally, we are also presenting a measure of sales on a day-adjusted basis. This represents a calculation of sales using a comparable number of selling days as in the previous period. Non-GAAP adjusted EBITDA, non-GAAP net income, non-GAAP diluted earnings per share, non-GAAP gross profit, free cash flow, constant currency net sales growth, base business sales, excluding the contribution from the recently acquired Nevro, Inc, and day-adjusted basis sales are not calculated in conformity with U.S. GAAP. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for financial measures prepared in accordance with U.S. GAAP. These measures do not include certain expenses that may be necessary to evaluate our liquidity or operating results. Our definitions of these non-GAAP measures may differ from that of other companies and therefore may not be comparable. Safe Harbor Statements All statements included in this press release other than statements of historical fact are forward-looking statements and may be identified by their use of words such as “believe,” “may,” “might,” “could,” “will,” “aim,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “plan” and other similar terms. These forward-looking statements are based on our current assumptions, expectations and estimates of future events and trends. Forward-looking statements are only predictions and are subject to many risks, uncertainties and other factors that may affect our businesses and operations and could cause actual results to differ materially from those predicted. These risks and uncertainties include, but are not limited to, the risks and costs associated with the health epidemics, pandemics and similar outbreaks, factors affecting our quarterly results, our ability to manage our growth, our ability to sustain our profitability, demand for our products, our ability to compete successfully (including without limitation our ability to convince surgeons to use our products and our ability to attract and retain sales and other personnel), our ability to rapidly develop and introduce new products, our ability to develop and execute on successful business strategies, our ability to comply with laws and regulations that are or may become applicable to our businesses, our ability to safeguard our intellectual property, our success in defending legal proceedings brought against us, trends in the medical device industry, general economic conditions, and other risks. For a discussion of these and other risks, uncertainties and other factors that could affect our results, you should refer to the disclosure contained in our most recent annual report on Form 10-K filed with the U.S. Securities and Exchange Commission, including the sections labeled “Risk Factors” and “Cautionary Note Concerning Forward-Looking Statements,” and in our Forms 10-Q, Forms 8-K and other filings with the U.S. Securities and Exchange Commission. These documents are available at www.sec.gov. Moreover, we operate in an evolving environment. New risk factors and uncertainties emerge from time to time and it is not possible for us to predict all risk factors and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements. Forward-looking statements contained in this press release speak only as of the date of this press release. We undertake no obligation to update any forward-looking statements as a result of new information, events or circumstances or other factors arising or coming to our attention after the date hereof. GLOBUS MEDICAL, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF INCOME(unaudited) Three Months Ended Six Months Ended June 30, June 30,(In thousands, except per share amounts) 2025 2024 2025 2024Net sales $ 745,342 $629,691 $ 1,343,463 $1,236,357 Cost of Sales and Operating expenses: Cost of sales (exclusive of amortization of intangibles) 248,765 260,040 444,162 501,527 Research and development 39,954 37,698 73,016 94,966 Selling, general and administrative 303,622 239,454 546,421 488,133 Amortization of intangibles 30,189 29,709 58,991 59,385 Acquisition-related costs 33,156 13,734 34,213 16,152 Restructuring costs 13,547 (566) 13,547 18,575 Operating income/(loss) 76,109 49,622 173,113 57,619 Other income/(expense), net Interest income/(expense), net 693 (2,335) 2,374 (4,229)Foreign currency transaction gain/(loss) 38 (703) 4,308 (16,074)Bargain purchase gain 110,561 — 110,561 — Other income/(expense) 772 997 1,485 1,707 Total other income/(expense), net 112,064 (2,041) 118,728 (18,596) Income/(loss) before income taxes 188,173 47,581 291,841 39,023 Income tax provision/(benefit) (14,673) 15,821 13,533 14,380 Net income/(loss) $ 202,846 $31,760 $ 278,308 $24,643 Other comprehensive income/(loss), net of tax: Unrealized gain/(loss) on marketable securities 2 492 317 871 Foreign currency translation gain/(loss) 12,404 (1,298) 16,783 (2,530)Total other comprehensive income/(loss), net of tax 12,406 (806) 17,100 (1,659)Comprehensive income/(loss) $ 215,252 $30,954 $ 295,408 $22,984 Earnings per share: Basic $ 1.50 $0.23 $ 2.05 $0.18 Diluted $ 1.49 $0.23 $ 2.01 $0.18 Weighted average shares outstanding: Basic 135,205 135,195 135,981 135,276 Diluted 136,499 136,979 138,137 136,836 GLOBUS MEDICAL, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(unaudited) June 30, December 31,(In thousands, except share and per share values)2025 2024ASSETS Current assets: Cash and cash equivalents$ 229,446 $784,438 Short-term marketable securities — 105,619 Accounts receivable, net of allowances of $26,607 and $15,505, respectively 611,565 557,697 Inventories 772,131 659,233 Prepaid expenses and other current assets 68,202 49,640 Income taxes receivable 48,558 20,633 Total current assets 1,729,902 2,177,260 Property and equipment, net of accumulated depreciation of $601,753 and $545,786, respectively 587,505 561,909 Operating lease right of use assets 61,587 49,647 Long-term marketable securities — 66,134 Intangible assets, net 796,372 795,117 Goodwill 1,434,983 1,432,387 Other assets 74,843 75,096 Deferred income taxes 275,897 94,200 Total assets$ 4,961,089 $5,251,750 LIABILITIES AND EQUITY Current liabilities: Accounts payable$ 87,099 $75,118 Accrued expenses 281,747 260,591 Operating lease liabilities 13,179 10,249 Income taxes payable — 10,725 Senior convertible notes — 443,351 Business acquisition liabilities 18,619 33,739 Deferred revenue 24,020 22,140 Total current liabilities 424,664 855,913 Business acquisition liabilities, net of current portion 86,353 89,496 Operating lease liabilities 107,925 83,588 Deferred income taxes and other tax liabilities 24,402 23,889 Other liabilities 22,062 21,531 Total liabilities 665,406 1,074,417 Equity: Class A common stock; $0.001 par value. Authorized 500,000,000 shares; issued and outstanding 112,620,208 and 114,990,219 shares at June 30, 2025 and December 31, 2024, respectively 113 115 Class B common stock; $0.001 par value. Authorized 275,000,000 shares; issued and outstanding 22,430,097 and 22,430,097 shares at June 30, 2025 and December 31, 2024, respectively 22 22 Additional paid-in capital 3,071,652 3,031,244 Accumulated other comprehensive income/(loss) 10,239 (6,861)Retained earnings 1,213,657 1,152,813 Total equity 4,295,683 4,177,333 Total liabilities and equity$ 4,961,089 $5,251,750 GLOBUS MEDICAL, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(unaudited) Six Months Ended June 30,(In thousands) 2025 2024Cash flows from operating activities: Net income $278,308 $24,643 Adjustments to reconcile net income to net cash provided by operating activities: Bargain Purchase Gain (110,561) — Acquired in-process research and development — 12,613 Depreciation and amortization 136,705 118,849 Amortization of premiums on marketable securities (421) (14)Provision for excess and obsolete inventory 10,933 10,498 Amortization of inventory fair value step-up 6,015 107,341 Amortization of 2025 Notes fair value step-up 6,658 13,315 Stock-based compensation expense 26,823 30,073 Allowance for expected credit losses 4,554 11,481 Change in fair value of business acquisition liabilities 5,389 12,739 Change in deferred income taxes (41,236) (65,275)(Gain)/loss on disposal of assets, net 6,131 464 Payment of business acquisition-related liabilities (15,764) (16,965)Net (gain)/loss from foreign currency adjustment (11,342) 6,558 (Increase) decrease in: Accounts receivable 20,395 (124,206)Inventories (11,722) (22,855)Prepaid expenses and other assets 852 (2,001)Increase (decrease) in: Accounts payable (4,085) 11,561 Accrued expenses and other liabilities (13,841) (28,951)Income taxes payable/receivable (38,626) 6,777 Net cash provided by/(used in) operating activities 255,165 106,645 Cash flows from investing activities: Purchases of marketable securities (1,750) (12,174)Maturities of marketable securities 58,630 21,709 Sales of marketable securities 115,608 7,404 Purchases of property and equipment (82,665) (56,366)Acquisition of businesses, net of cash acquired and purchases of intangible and other assets (252,546) (17,535)Acquisition of intangible assets (5,000) — Proceeds from credit facility 20,000 — Repayment of borrowings from credit facility (20,000) — Net cash provided by/(used in) investing activities (167,723) (56,962)Cash flows from financing activities: Payment of business acquisition-related liabilities (7,864) (33,921)Net proceeds from exercise of stock options 15,920 17,651 Payments related to tax withholdings for share-based compensation (2,953) (5,955)Repurchase of common stock (215,451) (84,787)Repayment of senior convertible notes (449,985) — Net cash provided by/(used in) financing activities (660,333) (107,012)Effect of foreign exchange rates on cash 17,899 461 Net increase/(decrease) in cash and cash equivalents (554,992) (56,868)Cash and cash equivalents at beginning of period 784,438 467,292 Cash and cash equivalents at end of period $ 229,446 $410,424 Supplemental disclosures of cash flow information: Income taxes paid, net $ 93,226 $71,586 Non-cash investing and financing activities: Accrued purchases of property and equipment $ 13,454 $9,508 Supplemental Financial InformationNet Sales by Product Category: Three Months Ended Six Months Ended June 30, June 30,(In thousands) 2025 2024 2025 2024Musculoskeletal Solutions $710,182 $592,913 $1,286,115 $1,167,610 Enabling Technologies 35,160 36,778 57,348 68,747 Total net sales $745,342 $629,691 $1,343,463 $1,236,357 Liquidity and Capital Resources: June 30, December 31,(In thousands) 2025 2024Cash and cash equivalents $229,446 $784,438 Short-term marketable securities — 105,619 Long-term marketable securities — 66,134 Total cash, cash equivalents and marketable securities $229,446 $956,191 The following tables reconcile GAAP to Non-GAAP financial measures. As of September 30, 2024, we no longer include Acquisition of in-process research and development as an adjustment to the non-GAAP financial measures. As previously disclosed, the Company incurred $12.6 million in the six months ended June 30, 2024 for the Acquisition of in-process research and development, which, when it was previously included, resulted in a 1.0% impact on Adjusted EBITDA as a percentage of net sales and $0.09 on Non-GAAP diluted earnings per share. Non-GAAP Adjusted EBITDA Reconciliation Table: Three Months Ended Six Months Ended June 30, June 30,(In thousands, except percentages)2025 2024 2025 2024Net income/(loss)$202,846 $31,760 $278,308 $24,643 Interest (income)/expense, net (693) 2,335 (2,374) 4,229 Provision for income taxes (14,673) 15,821 13,533 14,380 Depreciation and amortization 70,631 63,588 136,705 118,849 EBITDA 258,111 113,504 426,172 162,101 Stock-based compensation expense 13,258 12,735 26,310 25,174 Provision for litigation, net (2,621) 1,335 (3,908) 1,304 Merger and acquisition-related costs (1) 40,393 67,613 41,499 124,000 Net (gain) loss from strategic investments (1,248) (490) (1,309) (267)Non-cash acquisition-related foreign currency impacts (8,565) (4,633) (12,337) 6,558 Restructuring costs 19,915 371 20,649 25,533 Bargain Purchase Gain (110,561) — (110,561) — Adjusted EBITDA$208,682 $190,435 $386,515 $344,403 Net income/(loss) as a percentage of net sales 27.2% 5.0% 20.7% 2.0%Adjusted EBITDA as a percentage of net sales 28.0% 30.2% 28.8% 27.9%(1) Merger and acquisition-related costs represent certain costs associated with acquisitions. These costs, presented on a before-tax effect basis, are included in Non-GAAP Merger and Acquisition-related Costs table. Non-GAAP Merger and Acquisition-related Costs Table: Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024(In thousands) Amortization of inventory fair value step up $5,967 $53,670 $6,016 $107,341 Change in fair value of business acquisition liabilities 5,235 12,901 5,402 12,743 Employee-related costs (b) 27,418 — 27,418 1,457 Other acquisition-related costs (a) 1,773 1,042 2,663 2,459 Merger and acquisition-related costs $40,393 $67,613 $41,499 $124,000 (a) Primarily comprised of legal fees, advisory and consulting fees. (b) Primarily comprised of severance, share based compensation and termination fees. Non-GAAP Net Income Reconciliation Table: Three Months Ended Six Months Ended June 30, June 30,(In thousands)2025 2024 2025 2024Net income/(loss)$202,846 $31,760 $278,308 $24,643 Provision for litigation, net (2,621) 1,335 (3,908) 1,304 Amortization of intangibles 30,189 29,709 58,991 59,385 Merger and acquisition -related costs (1) 40,393 67,613 41,499 124,000 Net gain/(loss) on strategic investments (1,248) (490) (1,309) (267)Non-cash acquisition-related foreign currency impacts (8,565) (4,633) (12,337) 6,558 Restructuring Costs 19,915 371 20,649 25,534 Bargain Purchase Gain (110,561) — (110,561) — Provision for income tax benefit from release of valuation allowance on deferred tax assets (34,815) — (34,815) — Tax effect of adjusting items (18,751) (22,941) (24,907) (52,947)Non-GAAP net income/(loss)$116,782 $102,724 $211,610 $188,210 (1) see footnote 1 to the Non-GAAP Adjusted EBITDA Reconciliation Table above for the detail of these costs. Non-GAAP Gross Profit Reconciliation Table: Three Months Ended Six Months Ended June 30, June 30,(In thousands)2025 2024 2025 2024Net Sales$745,342 $629,691 $1,343,463 $1,236,357 Cost of Sales (exclusive of amortization of intangibles) 248,765 260,040 444,162 501,527 Amortization of Intangibles 24,643 22,228 46,851 42,752 Gross Profit$471,934 $347,423 $852,450 $692,078 Amortization of inventory fair value step up 5,967 53,671 6,016 107,341 Amortization of Intangibles 24,643 22,228 46,851 42,752 Adjusted Gross Profit$502,544 $423,322 $905,317 $842,171 Gross Profit % of Net Sales 63.3% 55.2% 63.5% 56.0%Adjusted Gross Profit % of Net Sales 67.4% 67.2% 67.4% 68.1% Non-GAAP Diluted Earnings Per Share Reconciliation Table: Three Months Ended Six Months Ended June 30, June 30,(In thousands)2025 2024 2025 2024Diluted earnings per share, as reported$1.49 $0.23 $2.01 $0.18 Provision for litigation, net (0.02) 0.01 (0.03) — Amortization of intangibles 0.22 0.22 0.43 0.43 Merger and acquisition -related costs (1) 0.29 0.49 0.30 0.91 Net (gain) loss from strategic investments (0.01) (0.00) (0.01) (0.00)Non-cash acquisition-related foreign currency impacts (0.06) (0.03) (0.09) 0.05 Restructuring costs 0.14 0.00 0.15 0.20 Valuation Allowance Release (0.26) — (0.25) — Bargain Purchase Gain (0.80) — (0.80) — Tax effect of adjusting items (0.14) (0.17) (0.18) (0.39)Non-GAAP diluted earnings per share$0.86 $0.75 $1.53 $1.38 (1) see footnote 1 to the Non-GAAP Adjusted EBITDA Reconciliation Table above for the detail of these costs. * amounts may not add due to rounding. Non-GAAP Free Cash Flow Reconciliation Table: Three Months Ended Six Months Ended June 30, June 30,(In thousands)2025 2024 2025 2024Net cash provided by operating activities$77,865 $54,258 $255,165 $106,645 Purchases of property and equipment (46,562) (27,798) (82,665) (56,366)Free cash flow$31,303 $26,460 $172,500 $50,279 Non-GAAP Net Sales on a Constant Currency Basis Comparative Table: Three Months EndedJune 30, ReportedNet Sales CurrencyImpact onCurrentPeriod Net ConstantCurrencyNet Sales(In thousands, except percentages) 2025 2024 Growth Sales GrowthUnited States $600,784 $499,459 20.3% $— 20.3%International 144,558 130,232 11.0% 4,569 7.5%Total net sales $745,342 $629,691 18.4% $4,569 17.6% Six Months EndedJune 30, ReportedNet Sales CurrencyImpact onCurrentPeriod Net ConstantCurrencyNet Sales(In thousands, except percentages) 2025 2024 Growth Sales GrowthUnited States $1,084,641 $982,386 10.4% $— 10.4%International 258,822 253,971 1.9% 770 1.6%Total net sales $1,343,463 $1,236,357 8.7% $770 8.6% Net Sales Reconciliation of the Nevro Acquisition Table: Three Months Ended Six Months Ended June 30, June 30,(In thousands) 2025 2024 2025 2024Net Sales of Nevro products $94,586 $— $94,586 $— Net Sales of base business 650,756 629,691 1,248,877 1,236,357 Total net sales $745,342 $629,691 $1,343,463 $1,236,357 Adjusted EBIDTA Reconciliation of the Nevro Acquisition Table: Three Months Ended Six Months Ended June 30, June 30,(In thousands) 2025 2024 2025 2024Adjusted EBITDA of the acquired Nevro subsidiaries $(1,310) $— $(1,310) $— Adjusted EBITDA of base business 209,992 190,435 387,824 344,403 Total Adjusted EBITDA (1) $208,682 $190,435 $386,515 $344,403 (1) See Non-GAAP Adjusted EBITDA Reconciliation Table above for calculation Contact:Brian KearnsSenior Vice President, Business Development and Investor RelationsPhone: (610) 930-1800Email: investors@globusmedical.comwww.globusmedical.com

Globus Medical Reports Second Quarter 2025 Results

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