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AUDUBON, Pa., Sept. 03, 2026 (GLOBE NEWSWIRE) -- Globus Medical, Inc. (NYSE: GMED), a leading musculoskeletal technology company, today announced that the Excelsius3D™ intelligent 3-in-1 imaging system is now CE marked for commercial sale in the European Union and the United Kingdom. The addition of Excelsius3D™ expands the company’s Excelsius™ Ecosystem of enabling technologies and further enhances the capabilities of the ExcelsiusGPS™ robotic navigation system in the European Union.

Excelsius3D™ is an intelligent, mobile imaging platform that combines 3D cone-beam computed tomography (CT), 2D fluoroscopy, and digital radiography in a single system. Designed for intraoperative use, Excelsius3D™ seamlessly integrates with ExcelsiusGPS™, enabling intraoperative imaging and robotic navigation to work together within a streamlined procedural workflow. Its compact footprint and omnidirectional wheels facilitate easy positioning and transport within the operating room, while providing surgeons and operating room teams with multiple imaging modalities in one comprehensive platform.

“The CE mark for Excelsius3D™ represents an important milestone in the continued expansion of the Excelsius™ Ecosystem,” said Keith Pfeil, President and Chief Executive Officer of Globus Medical. “We are committed to bringing innovative enabling technologies to surgeons around the world, and this important milestone further expands the capabilities of our platform by combining intraoperative imaging with the robotic navigation capabilities of ExcelsiusGPS™ across the European Union.”

“Excelsius3D™ was developed with a focus on bringing advanced imaging capabilities into a mobile platform that can integrate within the surgical workflow,” said Norbert Johnson, Chief Technology Officer of Globus Medical. “Its integration with ExcelsiusGPS™ represents an important step in connecting imaging, navigation, and robotics within the Excelsius™ Ecosystem, providing surgeons with complementary technologies designed to work together throughout the surgical workflow.”

Excelsius3D™ is designed to function as a stand-alone intraoperative imaging platform or as an integrated component of the Excelsius™ Ecosystem with ExcelsiusGPS™. This flexibility allows hospitals and surgical teams to leverage the system’s advanced imaging capabilities across a range of intraoperative applications while also supporting an integrated imaging and robotic navigation workflow when used with ExcelsiusGPS™.

The Excelsius3D™ system received U.S. Food and Drug Administration (FDA) 510(k) clearance in 2021. With CE marking, Globus Medical will begin commercializing Excelsius3D™ in the European Union and United Kingdom markets.

For more information about Globus Medical and the Excelsius™ Ecosystem, visit https://www.globusmedical.com/musculoskeletal-solutions/excelsiustechnology/.

Indications for Use

Excelsius3D™ is a mobile X-ray system designed for 2D fluoroscopy, 2D digital radiography, and 3D imaging of adult and pediatric patients. The system is indicated for use where a physician benefits from 2D and 3D information on anatomic structures and high contrast objects with high X-ray attenuation such as bony anatomy and metallic objects. Excelsius3D™ images are compatible with image guided systems such as ExcelsiusGPS™.

About Globus Medical, Inc.

Globus Medical, Inc. is a leading global musculoskeletal technology 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.

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 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, the successful integration of businesses that we have acquired or may acquire in the future, and other risks. For a discussion of these and other risks, uncertainties, and other factors that could affect our results, refer to the disclosures contained in our most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”), including the sections labeled “Risk Factors” and “Cautionary Note Concerning Forward-Looking Statements,” and in our subsequent filings with the SEC. 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. Except as may be required by applicable law, 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. As used herein, the “Company,” “Globus”, “Globus Medical,” “we,” “us,” and “our” refers to Globus Medical, Inc.

Contact: 
Brian Kearns
Senior Vice President, Business Development and Investor Relations
Phone: (610) 930-1800
Email: [email protected] | www.globusmedical.com

AUDUBON, Pa., Aug. 06, 2026 (GLOBE NEWSWIRE) -- Globus Medical, Inc. (NYSE: GMED), a leading musculoskeletal technology company, today announced its financial results for the second quarter ended June 30, 2026.

Second Quarter 2026:

Worldwide net sales were $789.6 million, an increase of 5.9%, or an increase of 5.6% on a constant currency basis.GAAP net income for the quarter was $151.6 million.GAAP diluted earnings per share (“EPS”) was $1.10, a decrease of 26.2%, primarily driven by the bargain purchase gain of $110.5 million recognized in the prior year quarter related to the Nevro acquisition. Non-GAAP diluted EPS was $1.34, an increase of 55.8%.
“Momentum continued into the second quarter with 6% overall revenue growth, or 9% growth excluding Nevro, driven by share gains across a majority of our underlying businesses, most notably US Spine, growing 7% and International Spine, growing 14% as-reported and 12% on a constant currency basis,” commented Keith Pfeil, President and Chief Executive Officer. “The depth of our product portfolio and exclusive selling model positions us to lead with innovation and commercial outreach, driving our ability to grow share over the long-term. Our priority remains centered on achieving improved surgical outcomes through the Globus ecosystem, bringing together patient selection, surgical techniques with complementary implants and technology to drive the surgical procedure, through a closed-loop surgical intelligence ecosystem.”

“US Spine, again, led the way in growth for the organization, marking our fifth straight quarter of above-market revenue growth, with continued strength across our entire product portfolio. This broad-based growth, paired with adjusted gross margin expansion of 200 basis points compared to the second quarter of the prior year, drove record second quarter non-GAAP net income and diluted earnings per share,” said Kyle Kline, Chief Financial Officer. “The strength of our second-quarter performance reflects disciplined execution across the business, including margin expansion, operating leverage, and synergy realization, which position us to deliver sustained earnings growth, and enhanced shareholder returns throughout the year.”

Worldwide net sales for the second quarter of 2026 were $789.6 million, an as-reported increase of 5.9% over the second quarter of 2025. U.S. net sales for the second quarter of 2026 increased by 3.0% compared to the second quarter of 2025. International net sales increased by 18.0% over the second quarter of 2025 on an as-reported basis and increased by 16.2% on a constant currency basis.

GAAP net income for the second quarter of 2026 was $151.6 million, a decrease of 25.3% over the same period in the prior year. The decrease in GAAP net income was primarily driven by the bargain purchase gain of $110.5 million recognized in the prior year quarter related to the Nevro acquisition. GAAP diluted EPS for the second quarter was $1.10, compared to $1.49 for the second quarter of 2025, a decrease of 26.2%. Non-GAAP diluted EPS for the second quarter of 2026, which excludes, among other costs, amortization of intangibles, merger and acquisition-related costs, and restructuring-related costs, was $1.34, compared to $0.86 in the second quarter of 2025, an increase of 55.8%.

2026 Annual Guidance

The Company reaffirms its guidance for full-year 2026 revenue to be in the range of $3.18 billion to $3.22 billion and updates its guidance for non-GAAP fully diluted EPS to be in the range of $4.95 to $5.05 from the previous range of $4.70 to $4.80.

Conference Call Information

Globus Medical will hold a teleconference to discuss its 2026 second quarter 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 technology 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 (“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, 2026 and for other comparative periods, we are presenting non-GAAP net income and non-GAAP diluted EPS, which represent net income and diluted EPS 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 income tax net benefits and non-recurring tax adjustments, 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, 2026 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 revenue growth, excluding the contribution from Nevro Corp. (“Nevro”), which we acquired in 2025. We believe these provide insight to how the Company is performing without the impact of our most recent acquisition.

Non-GAAP Adjusted EBITDA, non-GAAP net income, non-GAAP diluted EPS, non-GAAP gross profit, free cash flow, constant currency net sales growth, base business revenue growth, and day-adjusted basis sales are not calculated in conformity with 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 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. The tables included in this release reconcile the GAAP financial measures to the non-GAAP financial measures discussed above for the three months ended June 30, 2026.

We are unable to present a quantitative reconciliation of our expected fully diluted GAAP EPS to non-GAAP diluted EPS as we are unable to predict with reasonable certainty and without unreasonable effort the impact and timing of provision for litigation, amortization of intangibles, merger and acquisition-related costs, restructuring related costs, certain foreign currency acquisition-related impacts, bargain purchase gains, certain income tax net benefits from non-recurring tax adjustments, gains and losses from strategic investments, and the tax effects of all of the foregoing adjustments. The financial impact of these items is uncertain and is dependent on various factors, including timing, and could be material to our Consolidated Statements of Income.

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 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, the successful integration of businesses that we have acquired or may acquire in the future, and other risks. For a discussion of these and other risks, uncertainties, and other factors that could affect our results, refer to the disclosures contained in our most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”), including the sections labeled “Risk Factors” and “Cautionary Note Concerning Forward-Looking Statements,” and in our subsequent filings with the SEC. 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. Except as may be required by applicable law, 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. As used herein, the “Company”, “Globus”, “Globus Medical”, “we”, “us”, and “our” refers to Globus Medical, Inc.

GLOBUS MEDICAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(unaudited)
  Three Months Ended
June 30, Six Months Ended
June 30,(In thousands, except per share amounts) 2026   2025   2026  2025
Net sales$789,612  $745,342  $1,549,466  $1,343,463        Cost of Sales and Operating expenses:       Cost of sales (exclusive of amortization of intangibles) 241,439   248,765   475,505   444,162Research and development 36,321   39,954   72,831   73,016Selling, general and administrative 286,823   303,622   584,598   546,421Amortization of intangibles 29,560   30,189   59,086   58,991Acquisition-related costs 11,080   33,156   17,457   34,213Restructuring costs 1,957   13,547   7,169   13,547        Operating income/(loss) 182,432   76,109   332,820   173,113        Other income/(expense), net       Interest income/(expense), net 7,074   693   12,508   2,374Foreign currency transaction gain/(loss) (860)  38   (2,973)  4,308Bargain purchase gain —   110,561   1,118   110,561Other income/(expense) 1,171   772   3,418   1,485Total other income/(expense), net 7,385   112,064   14,071   118,728        Income/(loss) before income taxes 189,817   188,173   346,891   291,841Income tax provision/(benefit) 38,248   (14,673)  71,020   13,533        Net income/(loss)$151,569  $202,846  $275,871  $278,308        Other comprehensive income/(loss), net of tax:       Unrealized gain/(loss) on marketable securities (551)  2   (1,711)  317Foreign currency translation gain/(loss) (2,657)  12,404   (2,439)  16,783Total other comprehensive income/(loss), net of tax (3,208)  12,406   (4,150)  17,100Comprehensive income/(loss)$148,361  $215,252  $271,721  $295,408        Earnings per share:       Basic$1.12  $1.50  $2.04  $2.05Diluted$1.10  $1.49  $2.00  $2.01Weighted average shares outstanding:       Basic 135,054   135,205   135,209   135,981Diluted 137,384   136,499   137,787   138,137 GLOBUS MEDICAL, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(unaudited)
  June 30, December 31,(In thousands, except share and per share values)2026
 2025
ASSETS   Current assets:   Cash and cash equivalents$507,745 $526,156Short-term marketable securities 87,397  31,087Accounts receivable, net of allowances $44,371 and $33,434, respectively 692,176  678,938Inventories 810,897  759,277Prepaid expenses and other current assets 70,195  65,426Income taxes receivable 47,102  64,727Total current assets 2,215,512  2,125,611Property and equipment, net 533,528  564,452Operating lease right of use assets 59,155  63,786Long-term marketable securities 245,358  71,819Intangible assets, net 692,624  745,064Goodwill 1,438,216  1,435,033Other assets 79,238  78,781Deferred income taxes 224,627  218,215Total assets$5,488,258 $5,302,761    LIABILITIES AND EQUITY   Current liabilities:   Accounts payable$106,941 $98,852Accrued expenses 300,728  333,586Operating lease liabilities 14,385  14,738Income taxes payable 6,036  4,155Business acquisition liabilities 23,276  19,513Deferred revenue 27,981  27,655Total current liabilities 479,347  498,499Business acquisition liabilities, net of current portion 82,113  81,995Operating lease liabilities 96,807  103,918Deferred income taxes and other tax liabilities 42,342  23,756Other liabilities 19,046  21,343Total liabilities 719,655  729,511    Equity:   Class A common stock; $0.001 par value. Authorized 500,000,000 shares; issued and outstanding 111,822,190 and 112,625,126 shares at June 30, 2026 and December 31, 2025, respectively 112  113Class 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, 2026 and December 31, 2025, respectively 22  22Additional paid-in capital 3,230,186  3,169,812Accumulated other comprehensive income/(loss) 11,196  15,346Retained earnings 1,527,087  1,387,957Total equity 4,768,603  4,573,250Total liabilities and equity$5,488,258 $5,302,761 GLOBUS MEDICAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
   Six Months Ended
June 30,(In thousands) 2026   2025 Cash flows from operating activities:   Net income$275,871  $278,308 Adjustments to reconcile net income to net cash provided by operating activities:   Bargain purchase gain (1,118)  (110,561)Depreciation and amortization 139,355   136,284 Provision for excess and obsolete inventory 9,795   10,933 Amortization of acquisition accounting fair value step up —   12,673 Stock-based compensation expense 26,000   26,823 Allowance for expected credit losses 10,398   4,554 Change in fair value of business acquisition liabilities 16,059   5,389 Change in deferred income taxes 15,748   (41,236)(Gain)/loss on disposal of assets, net 5,558   6,131 Payment of business acquisition-related liabilities (2,596)  (15,764)Net (gain)/loss from foreign currency adjustment 218   (11,342)(Increase) decrease in:   Accounts receivable (27,211)  20,395 Inventories (44,551)  (11,722)Prepaid expenses and other assets (459)  852 Increase (decrease) in:   Accounts payable 5,389   (4,085)Accrued expenses and other liabilities (35,738)  (13,841)Income taxes payable/receivable 19,387   (38,626)Net cash provided by/(used in) operating activities 412,105   255,165 Cash flows from investing activities:   Purchases of marketable securities (254,013)  (1,750)Sales and maturities of marketable securities 21,483   174,238 Purchases of property and equipment (72,783)  (82,665)Acquisition of businesses, net of cash acquired and purchases of intangible and other assets (6,409)  (257,546)Net cash provided by/(used in) investing activities (311,722)  (167,723)Cash flows from financing activities:   Payment of business acquisition-related liabilities (13,720)  (7,864)Net proceeds from exercise of stock options 36,932   15,920 Payments related to tax withholdings for share-based compensation (3,453)  (2,953)Repurchase of common stock (136,058)  (215,451)Repayment of senior convertible notes —   (449,985)Net cash provided by/(used in) financing activities (116,299)  (660,333)Effect of foreign exchange rates on cash (2,495)  17,899 Net increase/(decrease) in cash and cash equivalents (18,411)  (554,992)Cash and cash equivalents at beginning of period 526,156   784,438 Cash and cash equivalents at end of period$507,745  $229,446     Supplemental disclosures of cash flow information:   Income taxes paid, net$30,603  $93,226 Non-cash investing and financing activities:   Accrued purchases of property and equipment$13,390  $13,454  Supplemental Financial InformationNet Sales by Product Category:

  Three Months Ended
June 30, Six Months Ended
June 30,(In thousands)2026
 2025
 2026
 2025
Musculoskeletal Solutions$763,540 $710,182 $1,496,524 $1,286,115Enabling Technologies 26,072  35,160  52,942  57,348Total net sales$789,612 $745,342 $1,549,466 $1,343,463 Liquidity and Capital Resources:
  June 30, December 31,(In thousands)2026
 2025
Cash and cash equivalents$507,745 $526,156Short-term marketable securities 87,397  31,087Long-term marketable securities 245,358  71,819Total cash, cash equivalents and marketable securities$840,500 $629,062
The following tables reconcile GAAP to non-GAAP financial measures.

Non-GAAP Adjusted EBITDA Reconciliation Table:
  Three Months Ended
June 30, Six Months Ended
June 30,(In thousands, except percentages) 2026   2025   2026   2025 Net income/(loss)$151,569  $202,846  $275,871  $278,308 Interest (income)/expense, net (7,074)  (693)  (12,508)  (2,374)Provision for income taxes 38,248   (14,673)  71,020   13,533 Depreciation and amortization 70,084   70,631   140,205   136,705 EBITDA 252,827   258,111   474,588   426,172 Stock-based compensation expense 13,383   13,258   25,997   26,310 Provision for litigation, net 62   (2,621)  196   (3,908)Merger and acquisition-related costs(1) 11,290   40,393   17,731   41,499 Net (gain) loss from strategic investments (364)  (1,248)  (1,189)  (1,309)Non-cash acquisition-related foreign currency impacts (119)  (8,565)  (217)  (12,337)Restructuring costs 2,760   19,915   9,147   20,649 Bargain purchase gain —   (110,561)  (1,118)  (110,561)Adjusted EBITDA$279,839  $208,682  $525,135  $386,515         Net income/(loss) as a percentage of net sales 19.2%  27.2%  17.8%  20.7%Adjusted EBITDA as a percentage of net sales 35.4%  28.0%  33.9%  28.8% (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
June 30, Six Months Ended
June 30,(In thousands)2026
 2025
 2026
 2025
Amortization of inventory fair value step up$— $5,967 $— $6,016Change in fair value of business acquisition liabilities 9,707  5,235  16,059  5,402Employee-related costs(b) 1,373  27,418  1,398  27,418Other acquisition-related costs(a) 210  1,773  274  2,663Merger and acquisition-related costs$11,290 $40,393 $17,731 $41,499 (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
June 30, Six Months Ended
June 30,(In thousands) 2026   2025   2026   2025 Net income/(loss)$151,569  $202,846  $275,871  $278,308 Provision for litigation, net 62   (2,621)  196   (3,908)Amortization of intangibles 29,560   30,189   59,086   58,991 Merger and acquisition -related costs(1) 11,290   40,393   17,731   41,499 Net gain/(loss) on strategic investments (364)  (1,248)  (1,189)  (1,309)Non-cash acquisition-related foreign currency impacts (119)  (8,565)  (217)  (12,337)Restructuring costs 2,760   19,915   9,147   20,649 Bargain purchase gain —   (110,561)  (1,118)  (110,561)Provision for income tax benefit from non-recurring tax adjustments —   (34,815)  —   (34,815)Tax effect of adjusting items (10,464)  (18,751)  (20,317)  (24,907)Non-GAAP net income/(loss)$184,294  $116,782  $339,190  $211,610  (1)  See footnote 1 to the Non-GAAP Adjusted EBITDA Reconciliation Table for the detail for these costs.

Non-GAAP Gross Profit Reconciliation Table:
  Three Months Ended
June 30, Six Months Ended
June 30,(In thousands) 2026   2025   2026   2025 Net sales$789,612  $745,342  $1,549,466  $1,343,463 Cost of sales (exclusive of amortization of intangibles) 241,439   248,765   475,505   444,162 Amortization of intangibles 21,090   24,643   42,221   46,851 Gross Profit$527,083  $471,934  $1,031,740  $852,450         Amortization of inventory fair value step up —   5,967   —   6,016 Amortization of intangibles 21,090   24,643   42,221   46,851 Adjusted Gross Profit$548,173  $502,544  $1,073,961  $905,317         Gross Profit % of Net Sales 66.8%  63.3%  66.6%  63.5%Adjusted Gross Profit % of Net Sales 69.4%  67.4%  69.3%  67.4% Non-GAAP Diluted Earnings Per Share Reconciliation Table:
  Three Months Ended
June 30, Six Months Ended
June 30,(In thousands) 2026   2025   2026   2025 Diluted earnings per share, as reported$1.10  $1.49  $2.00  $2.01 Provision for litigation, net —   (0.02)  —   (0.03)Amortization of intangibles 0.22   0.22   0.43   0.43 Merger and acquisition -related costs(1) 0.08   0.29   0.13   0.30 Net (gain) loss from strategic investments —   (0.01)  (0.01)  (0.01)Non-cash acquisition-related foreign currency impacts —   (0.06)  —   (0.09)Restructuring costs 0.02   0.14   0.07   0.15 Bargain purchase gain —   (0.80)  (0.01)  (0.80)Provision for income tax benefit from non-recurring tax adjustments —   (0.26)  —   (0.25)Tax effect of adjusting items (0.08)  (0.14)  (0.15)  (0.18)Non-GAAP diluted earnings per share$1.34  $0.86  $2.46  $1.53  (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
June 30, Six Months Ended
June 30,(In thousands) 2026   2025   2026   2025 Net cash provided by operating activities$209,742  $77,865  $412,105  $255,165 Purchases of property and equipment (33,168)  (46,562)  (72,783)  (82,665)Free cash flow$176,574  $31,303  $339,322  $172,500  Non-GAAP Net Sales on a Constant Currency Basis Comparative Table:
  Three Months Ended
June 30, Reported
Net Sales
Growth
 Currency
Impact on
Current
Period Net Sales
 Constant
Currency
Net Sales
Growth
(In thousands, except percentages)2026
 2025
   United States$619,105 $600,784 3.0% $— 3.0%International 170,507  144,558 18.0%  2,580 16.2%Total net sales$789,612 $745,342 5.9% $2,580 5.6%  Six Months Ended
June 30, Reported
Net Sales
Growth
 Currency
Impact on
Current
Period Net Sales
 Constant
Currency
Net Sales
Growth
(In thousands, except percentages)2026
 2025
   United States$        1,223,993         $        1,084,641         12.8% $        —         12.8%International         325,473                  258,822         25.8%          11,554         21.3%Total net sales$        1,549,466         $        1,343,463         15.3% $        11,554         14.5%
Investor Contact:

Brian Kearns
Senior Vice President, Corporate Development and Investor Relations
Phone: (610) 930-1800
Email: [email protected]
www.globusmedical.com

Key Takeaways GMED grew first-quarter 2026 musculoskeletal sales 27%, with continued U.S. Spine momentum. Globus Medical ended the quarter debt-free with strong cash and operating cash flow supporting investments.GMED faces higher operating costs and foreign exchange swings that may affect near-term results. Globus Medical, Inc. (GMED - Free Report) is gaining market share in the musculoskeletal solutions space, banking on the strong performance of its implantable devices, biologics, accessories and unique surgical instruments used in an expansive range of spinal, orthopedic and neurosurgical procedures. A solid financial health also adds to the stock’s appeal. Meanwhile, unfavorable foreign exchange and dull macro scenario remain concerns for GMED’s operations. 

In the past year, this Zacks Rank #3 (Hold) stock has increased 43.5% against the industry's 10.2% decline. The S&P 500 composite has risen 21% in the same time frame. 

The renowned medical device company has a market capitalization of $12.55 billion. Globus Medical has an earnings yield of 6.2% against the industry’s negative 3% yield. GMED’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 26.3%. 

Let’s delve deeper.

Upsides for GMED StockMusculoskeletal Share Gains Continue: In the first quarter of 2026, the segment’s worldwide net sales rose 27% year over year, while base business sales, excluding Nevro, increased 13.2%. U.S. Spine marked its third straight quarter of 10% growth, with double-digit growth cited across standard fixation, minimally invasive surgery pedicle screws, expandable transforaminal lumbar interbody fusion, anterior lumbar interbody fusion, posterior cervical and cervical plating.

Trauma revenues increased 30.4% in the quarter, helped by continued adoption of the core trauma line and the Precice limb lengthening portfolio, with ANTHEM Elbow continuing to exceed expectations, leading the company to ship additional sets to the field in the second quarter. 

Financial Flexibility: Globus Medical ended the first quarter of 2026 with $560.9 million of cash and cash equivalents and $68.9 million of short-term marketable securities. The company remains debt-free, which preserves the capacity to fund R&D, sales-force investments and manufacturing expansion without relying on external financing. Liquidity is also being replenished internally, with $202.4 million of operating cash flow generated in the quarter. This supports continued capital spending and buybacks alongside ongoing integration work.

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What Ails GMED?Cost Inflation and Operating Spend Risk: The company operates in an environment of interest-rate uncertainty, inflation and geopolitical complexity that can disrupt supply chains and raise input costs. SG&A was $297.8 million in first-quarter 2026, or 39.2% of sales, up from $242.8 million a year earlier, reflecting higher compensation and benefit costs on higher volume. The company also recorded restructuring costs in the quarter as it continues synergy and integration plans, which could add variability to near-term expense trends.

Currency Exposure Persists: Globus Medical’s International net sales were $155 million in the first quarter of 2026, up 35.6% year over year as reported and 27.8% on a constant currency basis. This gap shows that foreign exchange can swing reported growth, even when underlying demand trends are steadier. The company recorded a $2.1 million foreign currency transaction loss in the quarter, which directly affected other income and expenses. With foreign revenues and expenses concentrated across regions such as Japan, the Eurozone, the United Kingdom and Australia, currency volatility can also affect gross margin and operating expense leverage over time.

Estimate TrendThe Zacks Consensus Estimate for GMED’s 2026 earnings per share (EPS) has remained unchanged at $4.74 in the past 30 days.

The consensus estimate for the company’s 2026 revenues is pegged at $3.20 billion, indicating an 8.7% rise from the year-ago reported number.

Key PicksSome better-ranked stocks in the broader medical space are Alcon (ALC - Free Report) , Integra LifeSciences (IART - Free Report) and Phibro Animal Health (PAHC - Free Report) . 

Alcon has an earnings yield of 5.1% against the industry’s negative 2.8% yield. Shares of the company have gained 22.8% compared with the industry’s 4.8% growth. ALC’s earnings topped estimates in three of the trailing four quarters and missed in one, the average surprise being 3.7%.

ALC carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Integra LifeSciences, carrying a Zacks Rank #2 at present, has an earnings yield of 16% against the industry’s negative 3% yield. Shares of the company have gained 22.8% compared with the industry’s 4.8% growth. IART’s earnings topped estimates in each of the trailing four quarters, the average surprise being 16.8%.

Phibro Animal Health, carrying a Zacks Rank #2 at present, has an earnings yield of 9.2% compared with the industry’s 2.8% yield. Shares of the company have climbed 43.1% against the industry’s 27.9% decline. PAHC’s earnings beat estimates in each of the trailing four quarters, the average surprise being 16.3%.

Key Takeaways Globus Medical faces inflation, geopolitical and rate uncertainty that can disrupt supply chains. Globus Medical saw SG&A rise and incurred restructuring costs tied to integration efforts. Globus Medical posted a $2.1M FX loss despite strong international sales growth in Q1 2026. Globus Medical (GMED - Free Report) operates in a challenging environment caused by interest rate uncertainty, inflation and geopolitical tensions, which can disrupt supply chains and increase costs. While gross margin improved to 69.2% in the first quarter of 2026, it remains below management’s long-term target of the mid-70% range, leaving limited room to absorb higher costs. 

Selling, general and administrative expenses rose to $297.8 million from $242.8 million a year earlier, mainly due to higher compensation and benefit costs associated with increased sales volume. The company also incurred restructuring expenses as it continues integration and synergy initiatives, which could lead to fluctuations in near-term operating costs.

Globus Medical’s international business adds another source of uncertainty. International net sales reached $155.0 million in the first quarter of 2026, increasing 35.6% year over year on a reported basis and 27.8% on a constant currency basis, highlighting the impact of exchange rate movements on reported results. 

The company recorded a $2.1 million foreign currency transaction loss during the quarter, which reduced other income. With significant operations in regions such as Japan, the Eurozone, the United Kingdom and Australia, ongoing currency fluctuations could continue to affect revenue growth, profit margins and operating expenses over time.

Peer UpdateMedtronic’s (MDT - Free Report) operations remain vulnerable to cost inflation, reimbursement constraints, geopolitical disruption and changing global trade policies. It also embedded a roughly 1-point EPS drag from higher fuel and transportation costs tied to the recent shift in the geopolitical environment. 

Medtronic generates a large portion of sales internationally, leaving reported results sensitive to exchange rates. Foreign exchange added $819 million to fiscal 2026 revenues, but fiscal 2027 guidance assumes a neutral to $100 million revenue drag.

Edwards Lifesciences’ (EW - Free Report) extensive global operations and overseas manufacturing facilities and suppliers bring certain financial, economic, political and other risks. The business is also currently experiencing staffing shortages within the hospital systems. 

In the first quarter of 2026, these issues resulted in a 20.2% increase in COGS and a year-over-year decline of 64 basis points in gross margin. Foreign exchange is a major headwind for Edwards due to a considerable percentage of its revenues coming from outside the United States. Foreign exchange rates negatively impacted the second quarter gross profit margin by 60 basis points compared to the prior year.

GMED’s Stock Price PerformanceOver the past year, GMED shares have surged 37.1%, outperforming the industry’s 4.6% decline. 

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GMED’s ValuationGMED currently trades at a forward 12-month price-to-sales (P/S) of 3.26X compared with the industry median of 4.49X.

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GMED Stock Estimate TrendIn the past 30 days, GMED's EPS estimate for 2026 has moved north to $4.74. 

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GMED currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.