Key Takeaways CONMED reported Q4 adjusted EPS of $1.43, surpassing estimates on strong surgical segment performance.CNMD's Q4 revenue rose to $373.2 million, led by Orthopedic and General Surgery product line strength.CONMED's gross margin expanded 116 bps to 58.5%, reflecting improved profitability in Q4.CONMED Corporation (CNMD) delivered adjusted earnings per share (EPS) of $1.43 in the fourth quarter of 2025, up 6.7% year over year. The figure beat the Zacks Consensus Estimate by 8.6%.The adjustments in ...

Conmed (CNMD) reported $373.2 million in revenue for the quarter ended December 2025, representing a year-over-year increase of 7.9%. EPS of $1.43 for the same period compares to $1.34 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $366.22 million, representing a surprise of +1.91%. The company delivered an EPS surprise of +8.61%, with the consensus EPS estimate being $1.32.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Stre ...

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CONMED (NYSE:CNMD) Q4 2025 Earnings call January 28, 2026 04:30 PM ET Company ParticipantsPatrick Beyer - President and CEOTodd Garner - EVP and CFOConference Call ParticipantsMatthew O'Brien - AnalystMike Matson - AnalystRobbie Marcus - AnalystTravis Steed - AnalystVik Chopra - AnalystYoung Li - AnalystOperatorGood day, and thank you for standing by. Welcome to CONMED's Fourth Quarter Fiscal 2025 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's present ...

CONMED (NYSE:CNMD) Q4 2025 Earnings call January 28, 2026 04:30 PM ET Company ParticipantsPatrick Beyer - President and CEOTodd Garner - EVP and CFOConference Call ParticipantsMatthew O'Brien - AnalystMike Matson - AnalystRobbie Marcus - AnalystTravis Steed - AnalystVik Chopra - AnalystYoung Li - AnalystOperatorGood day, and thank you for standing by. Welcome to CONMED's fourth quarter fiscal 2025 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's present ...

Financial Data and Key Metrics Changes - Total sales for Q4 2025 were $373.2 million, a year-over-year increase of 7.9% as reported and 7.1% in constant currency [5] - For the full year, sales were $1.375 billion, representing year-over-year growth of 5.2% as reported and 5.1% in constant currency [5] - Adjusted earnings per share for Q4 were $1.43, growing 6.7%, while full-year adjusted EPS was $4.59, growing 10.1% [5][21] - GAAP net income for Q4 was $16.7 million, down from $33.8 million in Q4 2024, with GAAP earnings per diluted share at $0.54 compared to $1.08 a year ago [19] Business Line Data and Key Metrics Changes - Orthopedic sales increased 12.1% in Q4 and 5.5% for the full year on a constant currency basis [5] - General surgery sales increased 3.8% in Q4 and 4.7% for the full year in constant currency [5] - U.S. orthopedic sales grew 6.6% in Q4, while international orthopedic sales increased 15.7% [16] - U.S. general surgery sales declined 0.4%, while international general surgery sales increased 14.8% [16] Market Data and Key Metrics Changes - International sales grew 15.4% in Q4, while U.S. sales increased 1.4% [15] - The decline in U.S. general surgery was attributed to a focus on non-core areas and strategic portfolio management [16] Company Strategy and Development Direction - The company plans to exit its gastroenterology product lines to focus on high-growth, high-margin markets such as robotic and laparoscopic surgery [6][7] - The strategy includes stabilizing and scaling operations to build a high-performance supply chain [8] - The company aims to deliver sustained above-market growth in its orthopedic portfolio over time [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to return to above-market growth by focusing on core strengths and investing in high-growth platforms [13] - The company is optimistic about the long-term growth potential of its AirSeal and BioBrace products, with expectations of high single-digit to low double-digit growth rates [10][12] Other Important Information - The company suspended its dividend and approved a $150 million share repurchase authorization [12] - The leverage ratio at the end of the year was 2.9 times, providing flexibility for innovation and growth [12] Q&A Session Summary Question: Can you talk about the cadence for the rest of the year and any selling day differences? - Management indicated no selling day differences and expected normal seasonality for the med tech calendar [30] Question: What is the status of the CFO search? - The company is actively searching for a new CFO who will focus on shareholder value and be a strong teammate to the leadership team [32] Question: Can you clarify the organic revenue numbers presented at the healthcare conference versus today? - The difference was due to final numbers rolling out, with the current guidance being more precise [35] Question: What drove the upside in orthopedic sales and the downside in general surgery? - The orthopedic sales beat was attributed to committed sales professionals, improving supply chain, and new product approvals, while general surgery faced challenges due to portfolio management [37][40] Question: How will the GI business be reported going forward? - The GI business will be reported separately as the company moves forward [54]

Q4 2025 Earnings Presentation Pat J. Beyer President and Chief Executive Officer Todd W. Garner Executive Vice President and Chief Financial Officer January 28th, 2026 CONMED Vision Empower healthcare providers worldwide to deliver exceptional outcomes for patients. This presentation may contain forward-looking statements based on certain assumptions and contingencies that involve risks and uncertainties, which could cause actual results, performance, or trends to differ materially from those expressed in t ...

Revenue Performance - Fourth quarter 2025 sales reached $373.2 million, a 7.9% increase year-over-year, with a 7.1% increase in constant currency[5] - Full-year 2025 sales totaled $1,374.7 million, reflecting a 5.2% year-over-year increase as reported and a 5.1% increase in constant currency[5] - Domestic revenue for Q4 2025 increased by 1.4% year-over-year, while international revenue rose by 17.0% as reported and 15.4% in constant currency[5] - The company expects full-year 2026 revenue to be between $1.345 billion and $1.375 billion, indicating organic constant currency growth of approximately 4.5% to 6% over 2025[4] Earnings and Profitability - Adjusted diluted net earnings per share for Q4 2025 were $1.43, compared to $1.34 in Q4 2024, while GAAP diluted net earnings per share were $0.54, down from $1.08 in Q4 2024[5] - For full-year 2026, the company anticipates adjusted diluted net earnings per share in the range of $4.30 to $4.45, including a currency tailwind of approximately $0.10[5] - The company reported a net income of $16.7 million for Q4 2025, down from $33.8 million in Q4 2024[9] - Adjusted net income for the year ended December 31, 2025, was $143.081 million, with diluted EPS of $4.59, up from $41.840 million and $1.34 in 2024[19] - The company reported a net income of $47.055 million for the year ended December 31, 2025, compared to $33.754 million in 2024[19] - The company reported a net income of $47,055,000 for the year ended December 31, 2025, down from $132,423,000 in 2024[28] Cost and Expenses - Gross profit margin for Q4 2025 was 58.5%, up from 57.3% in Q4 2024, while the full-year gross profit margin was 54.6%, compared to 56.1% in 2024[9] - Selling and administrative expenses for Q4 2025 were $166.764 million, or 44.7% of sales, compared to $132.669 million and 38.3% in Q4 2024[13] - The company incurred operational optimization costs of $12.450 million in 2025, impacting overall profitability[19] - The effective tax rate for Q4 2025 was 42.8%, compared to 22.7% in Q4 2024, indicating a significant increase in tax obligations[13] - The company faced legal matters costs of $2.609 million in 2025, impacting overall financial performance[19] - Costs related to operational optimization and compliance with EU Medical Device Regulations were incurred, impacting selling and administrative expenses[23][25] Research and Development - Research and development expenses for Q4 2025 were $14.9 million, compared to $13.2 million in Q4 2024, indicating a focus on innovation[9] - Research and development expenses for the year ended December 31, 2025, totaled $55.884 million, reflecting ongoing investment in innovation[19] - The company incurred $54,426,000 in research and development expenses, which accounted for 4.2% of sales[20] Strategic Focus - The company remains focused on key growth drivers in minimally invasive surgery, smoke evacuation, and orthopedic soft tissue repair as part of its strategic initiatives[4] - The company is focused on improving manufacturing operations and optimizing its operational processes through consulting engagements[21] Other Financial Adjustments - The company recorded a contingent consideration fair value adjustment of $(19.446) million in Q4 2025, affecting net income[13] - The company recognized a gain on the sale of a product line in 2025, contributing positively to its financial performance[24] - The company wrote off inventory and equipment related to the cancellation of planned new product lines, affecting cost of goods sold[22]

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Core Insights - CONMED aims to empower healthcare providers globally to deliver exceptional patient outcomes, emphasizing a commitment to innovative clinical solutions [1][2] - The company is focused on maintaining profitability for shareholders while balancing its business portfolio [2] Business Portfolio - CONMED's portfolio consists of approximately 58% general surgery and 42% orthopedics, indicating a balanced approach to its product offerings [2] - Geographically, 57% of CONMED's business is derived from international markets, showcasing its global reach [2]