Core Insights - Longeviti Neuro Solutions has appointed Tim Scannell, former President & COO of Stryker Corporation, as Chair of its Board of Directors, aiming to enhance its strategic direction in neurotechnology [1][6] - The company has established a $10 million strategic capital partnership with Soleus Capital to support hiring, product development, and medical education initiatives [1][5] Company Overview - Longeviti Neuro Solutions focuses on innovative platform solutions for complex brain disorders, with a mission to improve patient care during and after surgery [8][9] - The company has full in-house capabilities for manufacturing, packaging, designing, and sterilizing, along with multiple FDA clearances and ISO 13485 Certifications [8] - Longeviti's products are approved for use in over 120 hospitals globally and have assisted over 4,000 patients to date [9] Leadership and Strategic Direction - Tim Scannell brings over thirty years of experience in the medical device market, having held various leadership roles at Stryker Corporation, including Group President of MedSurg & Neurotechnology [2][4] - As Chair, Scannell will help formulate strategic plans and provide oversight, leveraging his extensive experience in scaling MedTech businesses [4][6] - Scannell expressed confidence in Longeviti's leadership and technology, emphasizing the potential for significant advancements in patient care within the neuro industry [7] Investment Partnership - Soleus Capital, a healthcare investment firm with approximately $2 billion in assets under management, has committed $10 million in structured financing to Longeviti [10] - The partnership aims to enable Longeviti to scale its team, enhance its market presence, and amplify its impact on patients with complex brain disorders [5][7]

Core Viewpoint - Stryker Corporation reported strong second-quarter results for 2025, exceeding Wall Street expectations in both sales and earnings per share, and raised its full-year guidance, indicating robust growth driven by its surgical robotics and neurotechnology segments [2][3]. Financial Performance - Stryker achieved net sales of $6.022 billion (approximately 43.2 billion RMB) in Q2 2025, reflecting an 11.1% year-over-year increase, with organic growth of 10.2% [3][4]. - The net profit was $884 million, with earnings per share (EPS) of $2.29, and adjusted EPS of $3.13, marking an 11.4% increase year-over-year, surpassing market expectations by $0.06 [3][4]. - The adjusted operating profit margin improved by 110 basis points to 25.7%, showcasing the company's efficiency in product structure optimization and cost control [3][4]. Sales Growth Analysis - The U.S. market contributed significantly, with sales of $4.554 billion, a 12.5% increase year-over-year, while international sales grew by 6.8% [4][6]. - The MedSurg and Neurotechnology segment saw sales of $3.771 billion, up 17.3% year-over-year, driven by the Mako robotic system's increased adoption [7][9]. Product Performance - The Mako robotic system achieved record installations, particularly in knee and hip replacement surgeries, contributing to the growth of instruments and joint products [9][15]. - The endoscopy business reported a 17.1% revenue increase, reflecting the clinical acceptance of new visualization technologies [9][12]. - Neurotechnology products experienced nearly 20% sales growth, focusing on cranial neurology, spinal interventions, and neuro modulation [9][12]. Strategic Developments - Stryker's orthopedic segment reported $2.251 billion in revenue, with a modest 2% growth; however, organic growth reached 9% after the divestiture of its spinal implant business [12][14]. - The acquisition of Inari Medical in February 2025 led to a 52.3% sales increase in the vascular segment, marking it as the fastest-growing sub-segment [14][18]. - The company is focusing resources on emerging areas like robotics and neuro modulation, enhancing its competitive edge [13][18]. Market Expansion - Stryker is strengthening its international presence, particularly in Australia, Japan, and Europe, with double-digit growth recorded in Q2 2025 [20][21]. - The company is optimizing its supply chain and reducing tariff impacts, which are expected to improve profit margins [19][21]. Future Outlook - Stryker anticipates organic sales growth of 8.0% to 9.0% for 2025, with adjusted EPS guidance raised to $13.40-$13.60 [4][22]. - The company plans to expand its product offerings, including the LIFEPAK 35 defibrillator and Pangea system, into new markets [11][25].

Core Insights - Stryker reported Q2 2025 financial results with net sales of $6.0 billion, exceeding analyst expectations of $5.94 billion, and adjusted earnings per share of $3.13, surpassing the consensus of $3.07, reflecting double-digit growth in sales and profits year-over-year [1][2][5] - The company raised its full-year 2025 guidance for organic net sales growth to 9.5% to 10.0% and adjusted earnings per share to a range of $13.40 to $13.60, indicating strong momentum in product lines [1][13] Financial Performance - Q2 2025 non-GAAP EPS was $3.13, an 11.4% increase from $2.81 in Q2 2024 [2] - GAAP revenue for Q2 2025 was $6.0 billion, up 11.1% from $5.4 billion in Q2 2024 [2] - U.S. sales increased by 12.5%, while international sales rose by 6.8%, with organic sales growth at 10.2% [5][6] Segment Performance - The MedSurg and Neurotechnology segment generated $3.77 billion in net sales, reflecting a 17.3% year-over-year increase [6] - The Orthopaedics segment recorded $2.25 billion in GAAP sales, with a reported growth of 2.0%, which would have been 10.7% excluding the divestiture of the Spinal Implants business [7] Cost and Margin Analysis - Adjusted operating margin improved to 25.7%, a 1.1 percentage point increase year-over-year, driven by a stronger sales mix and pricing [9] - Increased selling, general, and administrative expenses, along with higher impairment charges, impacted operating margins [8][10] Strategic Initiatives - Stryker's success is attributed to innovation, acquisitions, and effective integration, with recent focus on robotics-assisted devices and vascular offerings [3][4] - The acquisition of Inari significantly contributed to the growth of the vascular devices product family [10] Future Outlook - Management anticipates costs from tariffs to be around $175 million for 2025, alongside ongoing integration of recent acquisitions [13] - Investors are encouraged to monitor the Mako Spine product launch, adoption of AI solutions, and international expansion efforts [14]

Core Insights - Stryker reported revenue of $6.02 billion for the quarter ended June 2025, reflecting an 11.1% increase year-over-year and a surprise of +1.09% over the Zacks Consensus Estimate of $5.96 billion [1] - The company's EPS for the quarter was $3.13, up from $2.81 in the same quarter last year, exceeding the consensus estimate of $3.06 by +2.29% [1] Financial Performance Metrics - Stryker's stock has returned -0.7% over the past month, while the Zacks S&P 500 composite increased by +2.3%, indicating underperformance relative to the broader market [3] - The company holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the market in the near term [3] Revenue Breakdown by Geography and Business - Orthopaedics - Hips in the United States generated $283 million, surpassing the estimated $279.15 million, with an 8.4% year-over-year increase [4] - Orthopaedics - Knees in the United States reported $460 million, slightly below the $462.74 million estimate, reflecting a 6.2% year-over-year increase [4] - International sales for Orthopaedics - Hips reached $183 million, exceeding the $181.41 million estimate, marking a 9.6% year-over-year increase [4] - Overall Orthopaedics sales totaled $2.25 billion, below the $2.29 billion estimate, showing a -2.3% year-over-year change [4] - MedSurg and Neurotechnology sales were $3.77 billion, exceeding the $3.68 billion estimate, with a significant year-over-year increase of +21% [4] - Orthopaedics - Knees generated $640 million, slightly below the $641.42 million estimate, with a 6.3% year-over-year increase [4] - MedSurg and Neurotechnology - Medical sales reached $990 million, surpassing the $985.69 million estimate, reflecting a +9% year-over-year change [4] - MedSurg and Neurotechnology - Endoscopy reported $899 million, exceeding the $835.42 million estimate, with a +17.1% year-over-year increase [4] - Orthopaedics - Hips generated $466 million, above the $457.77 million estimate, with an 8.9% year-over-year increase [4] - Orthopaedics - Other sales reached $183 million, below the $194.65 million estimate, but showing a significant year-over-year increase of +34.6% [4] - Orthopaedics - Trauma and Extremities reported $957 million, exceeding the $916.05 million estimate, with a +15% year-over-year increase [4]

| UNITED STATES | SECURITIES AND EXCHANGE COMMISSION | | | | | | | --- | --- | --- | --- | --- | --- | --- | | Washington, D.C. 20549 | | | | | | | | FORM 10-Q | ☒ | | | | | | | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | For the quarterly period ended June 30, 2025 | | | | | | | OR | ☐ | | | | | | | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | | | | | | | Commission file number: 001-13149 | | | | | | | | STRYKER C ...

Core Insights - Stryker Corporation reported second-quarter 2025 adjusted EPS of $3.13, exceeding estimates by 2.3% and showing an 11.4% year-over-year improvement [2] - Total revenues reached $6.02 billion, beating estimates by 1.1% and reflecting an 11.1% year-over-year increase [3] - The company raised its 2025 EPS guidance to $13.45-$13.60 and expects organic revenue growth of 9.5-10% for the full year [10][15] Revenue Details - Revenues in the United States amounted to $4.55 billion, up 2.5% year over year, while international sales increased 6.8% to $1.47 billion [4] - The growth in revenue is attributed to strong demand across the product portfolio, particularly in MedSurg and Neurotechnology, which reported sales of $3.77 billion, up 17.3% year over year [6][10] Segmental Analysis - The Orthopedics segment reported sales of $2.25 billion, a 2% increase year over year, with organic growth of 9% [11] - The company completed the divestment of its U.S. spinal implants business in April, which will now be reported separately within orthopedics [5] Margins - Adjusted gross profit totaled $3.93 billion, up 13% from the previous year, with adjusted gross margin expanding 110 basis points to 65.3% [13] - Total operating expenses increased by 15.3% to $2.73 billion, while adjusted operating income rose 15.8% to $1.55 billion [13] Financial Update - Stryker ended the second quarter with cash and cash equivalents of $2.38 billion, an increase from $2.34 billion at the end of the first quarter [14] - Cumulative net cash provided by operating activities totaled $1.36 billion, compared to $837 million a year ago [14] Market Performance - Despite strong quarterly results, Stryker's shares fell 5.8% in after-hours trading on July 31, while the stock has risen 3.9% year to date [17] - The company noted significant growth in Mako robotic-assisted surgeries, with procedure volumes increasing by 27% year over year [16][18]

Stryker (SYK) came out with quarterly earnings of $3.13 per share, beating the Zacks Consensus Estimate of $3.06 per share. This compares to earnings of $2.81 per share a year ago. These figures are adjusted for non- recurring items. This quarterly report represents an earnings surprise of +2.29%. A quarter ago, it was expected that this medical device maker would post earnings of $2.73 per share when it actually produced earnings of $2.84, delivering a surprise of +4.03%. Over the last four quarters, the c ...

Financial Data and Key Metrics Changes - The company reported double-digit organic sales growth of 10.2% and adjusted EPS growth of 11.4% for Q2 2025, despite challenges from tariffs and divestitures [6][14][22] - Adjusted earnings per share reached $3.13, up 11.4% from the same quarter last year, driven by robust sales growth and margin expansion [15][22] - The adjusted gross margin improved to 65.4%, a 120 basis point increase compared to 2024, while the adjusted operating margin was 25.7%, up 110 basis points [21][22] Business Line Data and Key Metrics Changes - MedSurg and Neurotechnology achieved organic sales growth of 11%, with US growth at 12.5% and international growth at 5.7% [15][18] - Instruments saw US organic sales growth of 10.1%, driven by strong performance in Surgical Technologies [15] - Endoscopy reported US organic sales growth of 18.6%, fueled by demand for operating room infrastructure and new product launches [16] - Orthopedics had organic sales growth of 9%, with US growth at 9.7% and international growth at 7.5% [18][20] Market Data and Key Metrics Changes - US organic sales growth was 11.5%, with double-digit growth in endoscopy, neurocranial, trauma, and extremities businesses [6][18] - International sales growth was 6.5%, with notable contributions from South Korea and emerging markets [7][18] - The company anticipates continued strength in procedural volumes and capital demand, supported by healthy hospital capex budgets [10][11] Company Strategy and Development Direction - The company is focused on innovation and maintaining a healthy deal pipeline for future growth opportunities [8][10] - Stryker is well-positioned for the second half of the year, raising its full-year 2025 outlook, including an expected 100 basis points of adjusted operating margin expansion [8][22] - The integration of Inari Medical is progressing, with expectations of double-digit pro forma revenue growth for 2025 [13][66] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of procedural volumes and capital demand, indicating no slowdown in the order book [27][29] - Supply chain issues are primarily limited to the medical segment, with expectations for resolution throughout the year [28][56] - The company remains optimistic about international growth opportunities, despite recent slower growth rates [78] Other Important Information - The company expects a net impact from tariffs of approximately $175 million in 2025, reflecting changes in bilateral agreements and tariff rates [23][24] - The launch of new products, such as LifePack 35, is anticipated to contribute positively to growth in the coming quarters [12][106] Q&A Session Summary Question: What gives confidence to raise organic growth and EPS guidance? - Management cited strong procedural strength and capital demand, with a healthy order book and limited supply issues in the medical segment [27][29] Question: How is the integration of Inari progressing? - The integration is ongoing, with a focus on establishing a Stryker leadership team and addressing destocking issues [66] Question: What is driving the strength in underlying margins? - The strength is attributed to a focus on pricing, manufacturing efficiency, and operational improvements [34][35] Question: How is the capital environment affecting growth? - The capital environment remains strong, with elevated backlog and no signs of slowdown [104] Question: What are the expectations for international growth? - Management expects improved international growth in the second half of the year, despite recent slower rates [78]

Financial Data and Key Metrics Changes - The company reported double-digit organic sales growth of 10.2% and adjusted EPS growth of 11.4% for Q2 2025, compared to 9% in Q2 2024 [5][12] - Adjusted earnings per share reached $3.13, up 11.4% from the same quarter last year, driven by robust sales growth and margin expansion [13][20] - Adjusted gross margin improved to 65.4%, a 120 basis point increase over 2024, while adjusted operating margin was 25.7%, up 110 basis points [20][21] Business Line Data and Key Metrics Changes - MedSurg and Neurotechnology experienced organic sales growth of 11%, with 12.5% growth in the US and 5.7% internationally [12][16] - Instruments had US organic sales growth of 10.1%, driven by strong performance in Surgical Technologies [13] - Endoscopy saw US organic sales growth of 18.6%, fueled by demand for operating room infrastructure and new product launches [14] - Orthopedics achieved organic sales growth of 9%, with US growth of 9.7% and international growth of 7.5% [16][19] Market Data and Key Metrics Changes - US organic sales growth was 11.5%, with double-digit growth in endoscopy, neurocranial, trauma, and extremities businesses [5][16] - International sales growth was 6.5%, with notable contributions from South Korea and emerging markets [5][16] - The company anticipates continued strength in procedural volumes and capital demand, supported by healthy hospital capex budgets [8][9] Company Strategy and Development Direction - The company is focused on innovation and maintaining a healthy deal pipeline for potential M&A opportunities [6][10] - The integration of Inari Medical is progressing, with expectations of double-digit pro forma revenue growth for 2025 [11][66] - The company is optimistic about international markets as significant growth opportunities, despite current supply chain challenges [5][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the durability of growth and earnings power across businesses, raising the full-year 2025 outlook [6][22] - The company expects organic net sales growth of 9.5% to 10% and adjusted EPS in the range of $13.4 to $13.6 for 2025 [21][22] - Supply chain issues are expected to persist, particularly in the medical division, but overall demand remains strong [28][56] Other Important Information - The company reached a milestone of 2,000,000 robotic procedures performed with Mako, solidifying its leadership in orthopedic robotics [9] - The launch of new products, including LifePack 35, is on track, with European approval received [10][21] - The company is actively monitoring the impact of Medicaid exchange cuts on elective procedures, noting that it represents an immaterial amount of procedures [69] Q&A Session Summary Question: What gives confidence to raise organic growth and EPS guidance? - Management cited continued procedural strength and strong capital demand as key factors, with supply issues primarily affecting the medical division [25][27] Question: How is the supply issue impacting growth? - Supply issues are limited to the medical division, with expectations for resolution throughout the year, while other segments remain strong [28][56] Question: What is driving the strength in underlying margins? - Focus on pricing, manufacturing efficiency, and operational improvements have contributed to margin strength [34][36] Question: How is the outpatient rule affecting ASC build-out? - Management sees no slowdown in ASC trends, with expectations for continued growth across various specialties [39][40] Question: What is the impact of tariffs on the business? - The estimated net impact from tariffs for 2025 is approximately $175 million, reflecting changes in bilateral agreements and manufacturing locations [43][46] Question: What is the outlook for the Mako robotic system? - The company expects continued momentum in Mako installations, with significant opportunities for growth in operating rooms that do not yet have robots [48][96] Question: How is the integration of Inari progressing? - The integration is on track, with expectations for double-digit growth in 2025 despite some initial challenges [61][66] Question: What are the company's plans for future M&A? - The company has a healthy pipeline for potential acquisitions, with a focus on tuck-in deals and the possibility of larger transactions [100][102]

Second Quarter Results Portage, Michigan - July 31, 2025 - Stryker (NYSE:SYK) reported operating results for the second quarter of 2025: Exhibit 99.1 STRYKER REPORTS SECOND QUARTER 2025 OPERATING RESULTS | | | | Second Quarter Net Sales Growth Overview | | | | --- | --- | --- | --- | --- | --- | | | | Foreign Currency | Acquisitions / | | | | | Reported | Exchange | Constant Currency Divestitures | | Organic | | MedSurg and Neurotechnology | 17.3 % | 0.6 % | 16.7 % | 5.7 % | 11.0 % | | Orthopaedics | 2.0 | ...