Knee growth of 6% in the quarter was driven by increased penetration of Persona OsteoTide orthogoxalamus knee, which ended the year roughly around 35% penetration. Our Oxford partial cementless knee continues to deliver above expectations with adoption rates post-training continued to be very high with great conversions from competitive accounts. Notably, our DTP, Direct to Patient Awareness Campaign, in partnership with Arnold Schwarzenegger, drove accelerated momentum in the second half of the year with a ...

Financial Performance - Q3 2025 revenue reached $518 million, a 10.7% increase year-over-year, driven by 6.0% organic daily sales growth and acquisitions[23] - Organic daily sales grew 3.1% sequentially over Q2 2025[14, 23] - Adjusted EBITDA was $48.5 million, representing 9.4% of sales, compared to 9.7% in Q2 2025 due to sales mix shift, initiative investments, and increased employee-related costs[14, 23] - Cash flow from operations was $38 million in Q3 2025, following $33 million in Q2 2025[16] Segment Performance - Lawson Products' Q3 2025 revenue was $121.5 million with adjusted EBITDA of $14.0 million, or 11.5% of revenue[25, 27, 28] - Canada Branch Division's Q3 2025 revenue was $60.0 million, up from $39.1 million in Q3 2024, with adjusted EBITDA of $5.8 million, or 9.6% of revenue[30, 32, 33] - Gexpro Services' Q3 2025 revenue was $130.5 million, with adjusted EBITDA of $17.8 million, or 13.6% of revenue[35, 37, 38] - TestEquity's Q3 2025 revenue was $206.5 million, with adjusted EBITDA of $12.4 million, or 6.0% of revenue[40, 42, 43] Capital Allocation - Approximately $20 million of shares were repurchased year-to-date[16] - Total liquidity at the end of Q3 2025 was approximately $335 million[16, 44]