Globus Medical Reports First Quarter 2025 Results

Core Insights - Globus Medical reported a net sales of $598.1 million for Q1 2025, reflecting a decrease of 1.4% compared to Q1 2024, with U.S. sales slightly increasing by 0.2% while international sales decreased by 7.7% [2][9][42] - The company achieved a GAAP net income of $75.5 million, a significant improvement from a loss of $7.1 million in the same period last year, with diluted EPS rising to $0.54 from a loss of $0.05 [3][9][18] - The company reaffirmed its full-year 2025 revenue guidance in the range of $2.80 to $2.90 billion, while adjusting its non-GAAP diluted EPS guidance down to $3.00 to $3.30 from a previous range of $3.10 to $3.40 [5] Financial Performance - The decrease in worldwide net sales was primarily attributed to fewer enabling technology unit sales, with international net sales decreasing by 4.6% on a constant currency basis [2][9][42] - Non-GAAP diluted EPS for Q1 2025 was reported at $0.68, an increase of 8.5% from $0.63 in Q1 2024 [3][9][38] - The company generated a record free cash flow of $141.2 million for the quarter, with net cash provided by operating activities amounting to $177.3 million [4][40] Debt and Cash Management - Globus Medical returned to a debt-free status by paying off the remaining $450 million of debt from the NuVasive merger [2][4] - As of March 31, 2025, the company had cash and cash equivalents of $461.3 million, down from $784.4 million at the end of 2024 [20][28] Product Performance - The musculoskeletal solutions segment generated $575.9 million in sales, while enabling technologies sales were $22.2 million, down from $32.0 million in the previous year [25][9] - The company continues to focus on innovation and investment in advanced products to enhance patient care [2][5]