Globus Medical Stock Earnings Reports

Globus Medical reported a strong Q1 2026: revenue of $759.9M, up 27% YoY (25.5% CC), and non‑GAAP diluted EPS of $1.12, up 64.7% YoY. The legacy Globus base business (excluding Nevro) generated $677.2M, up 13.2% YoY, led by U.S. Spine (≈10% growth for the third consecutive quarter and 58 weeks of consecutive growth), International Spine (16.4% as‑reported; 9.8% CC), Trauma (>30% growth) and Enabling Technologies (+21% in Q1). Management emphasized continued share gains driven by rep recruiting, cross‑selling and robotics pull‑through (ExcelsiusGPS remains the company’s core robotics platform). They signaled a strategic shift in Enabling Technologies toward more flexible capital models (leases/rentals) to drive implant/disposable recurring revenue, which may dampen upfront revenue recognition. The company announced FDA 510(k) clearances for patient‑specific lumbar interbody spacers and rods integrated with their Excelsius suite, positioning Globus as the only provider of a complete patient‑specific lumbar solution. Integration of Nevro continues: Q1 Nevro revenue was $82.7M and declined sequentially due to sales/marketing right‑sizing; management expects some lumpiness and a return toward historical run rates later in the back half of 2026 as new hires ramp. Margin progress was a highlight: adjusted gross margin was 69.2% (GAAP gross margin 66.4%), with management reiterating full‑year revenue guidance of $3.18B–$3.22B while raising full‑year non‑GAAP EPS guidance to $4.70–$4.80 (up from $4.40–$4.50) — driven principally by margin expansion and synergy capture. Cash and liquidity remain strong (~$799M), with $390M remaining on a $500M buyback authorization and continued capital allocation priorities: internal R&D, sets/capital for the sales force, buybacks, and selective M&A. Long‑term targets include achieving mid‑70s adjusted gross margin and continued investment in surgical intelligence and integrated procedure‑enabling technologies.