Globus Medical Inc. is a US-based medical device company founded in 2003 and headquartered in Audubon, Pennsylvania, specializing in advanced spine surgery implants and robotic navigation systems. Its flagship ExcelsiusGPS platform and comprehensive suite of musculoskeletal products generate revenue through device sales and recurring service contracts. Under CEO Robert Walker, the company competes effectively against larger players in the minimally invasive surgery segment. Continued R&D and international expansion efforts are driving its future growth prospects.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
2,938,930
2,519,360
1,568,480
1,022,840
Cost of Sales
957,802
1,035,480
548,174
263,725
Gross Profit
1,981,130
1,483,880
1,020,300
759,118
Selling, General & Administrative Expenses
1,178,500
981,362
643,844
432,117
Depreciation & Amortization Expenses
118,194
119,373
51,032
17,735
Research & Development Expenses
147,246
163,754
124,010
73,015
Other Operating Expenses
57,375
53,396
68,274
8,300
Operating Profit
479,816
165,991
133,142
227,951
Non-Operating Income
125,252
(45,269)
32,251
15,068
Total Non-Operating Income
125,252
(45,269)
32,251
15,068
Income Before Provision for Income Taxes
605,068
120,722
165,393
243,019
Provision for Income Taxes
67,200
17,738
42,520
52,850
Consolidated Net Income
537,868
102,984
122,873
190,169
Net Income Attributable to Common Shareholders
537,868
102,984
122,873
190,169
Basic EPS
3.98
0.76
1.09
1.89
Diluted EPS
3.92
0.75
1.07
1.85
Basic Weighted Average Shares Outstanding
135,215
135,726
113,087
100,469
Diluted Weighted Average Shares Outstanding
137,056
137,863
114,630
102,643
Shares Outstanding
135,055
137,420
136,336
100,192
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
526,156
784,438
467,292
150,466
Short-Term Investments
31,087
105,619
50,497
295,592
Total Cash and Cash Equivalents
557,243
890,057
517,789
446,058
Accounts Receivable
678,938
557,697
503,235
213,247
Other Receivables
64,727
20,633
1,635
4,061
Total Trade Receivables
743,665
578,330
504,870
217,308
Inventories
759,277
659,233
848,135
298,981
Other Current Assets
65,426
49,640
44,580
20,997
Total Current Assets
2,125,610
2,177,260
1,915,370
983,344
Net Property, Plant & Equipment
628,238
611,556
646,863
249,717
Net Intangible Assets
745,064
795,117
924,603
63,574
Goodwill
1,435,030
1,432,390
1,434,540
197,471
Long-Term Investments
71,819
66,134
75,428
495,852
Other Long-Term Assets
296,996
169,296
89,275
86,168
Total Assets
5,302,760
5,251,750
5,086,080
2,076,130
Accounts Payable
98,852
75,118
56,671
36,101
Accrued Expenses
337,741
271,316
244,305
93,159
Short-Term Debt
—
443,351
—
—
Current Portion of Leases
14,738
10,249
11,967
2,536
Unearned Revenue
27,655
22,140
18,369
14,100
Other Current Liabilities
19,513
33,739
61,035
13,308
Total Current Liabilities
498,499
855,913
392,347
159,204
Long-Term Debt
—
—
417,400
—
Leases
103,918
83,588
91,037
3,475
Other Long-Term Liabilities
127,094
134,916
187,340
67,074
Total Long-Term Liabilities
231,012
218,504
695,777
70,549
Total Liabilities
729,511
1,074,420
1,088,120
229,753
Common Stock
135
137
136
100
Additional Paid-in Capital
3,169,810
3,031,240
2,870,750
630,952
Accumulated Other Comprehensive Income
15,346
(6,861)
(10,192)
(24,630)
Retained Earnings
1,387,960
1,152,810
1,137,270
1,239,950
Total Common Shareholders' Equity
4,573,250
4,177,330
3,997,960
1,846,370
Total Shareholders' Equity
4,573,250
4,177,330
3,997,960
1,846,370
Total Liabilities and Shareholders' Equity
5,302,760
5,251,750
5,086,080
2,076,130
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
537,868
102,984
122,873
190,169
Depreciation & Amortization
276,842
253,389
145,526
68,252
Share-Based Compensation Expense
49,779
54,191
52,742
32,810
Other Adjustments
(44,247)
207,628
38,956
(7,501)
Changes in Trade Receivables
(52,182)
(78,062)
(49,914)
(50,843)
Changes in Inventories
(17,598)
(29,860)
(70,328)
(61,745)
Changes in Accounts Payable
8,487
17,663
(14,223)
14,418
Changes in Accrued Expenses
34,217
5,023
17,127
6,087
Changes in Income Taxes Payable
(50,851)
(13,377)
(408)
(2,887)
Changes in Other Operating Activities
11,132
1,059
1,148
(10,292)
Cash from Operating Activities
753,447
520,638
243,499
178,468
Capital Expenditure
(164,679)
(115,429)
(78,274)
(74,047)
Purchases of Intangible Assets
(9,746)
—
—
—
Purchases of Investments
(107,531)
(113,504)
(100,643)
(419,534)
Proceeds from Sale of Investments
179,488
70,517
777,913
414,654
Payments for Business Acquisitions
(252,546)
(17,635)
(296,028)
(31,435)
Cash from Investing Activities
(355,014)
(176,051)
302,968
(110,362)
Repayments of Long-Term Debt
(449,985)
—
—
—
Net Issuance / (Repayments) of Long-Term Debt
(449,985)
—
—
—
Issuance of Common Shares
89,757
110,439
12,397
41,716
Repurchases of Common Shares
(303,360)
(92,516)
(236,179)
(144,493)
Net Issuance / (Repurchases) of Common Shares
(213,603)
17,923
(223,782)
(102,777)
Other Financing Activities
(15,572)
(45,619)
(8,039)
(7,185)
Cash from Financing Activities
(679,160)
(27,696)
(231,821)
(109,962)
Effect of Exchange Rate Changes on Cash and Cash Equivalents
22,445
255
2,180
(747)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash