Globus Medical Q1 net sales $606.7M (+119% YoY); raises FY2024 guidance

GLOBUS MEDICAL INC

2024-Q1 EPS reported -$0.05 revenue$606,666,000

Net sales $606.7M, up 119.3% YoY, driven by NuVasive addition and higher spine/enabling tech volumes.
GAAP net loss $7.1M (($0.05) diluted EPS); non-GAAP diluted EPS $0.72, up 36.4% from $0.53.
Non-GAAP adjusted EBITDA $166.6M, or 27.5% of net sales.
FY2024 revenue guidance raised to $2.460-2.485B; non-GAAP EPS guidance raised to $2.75-2.85.
Integration of NuVasive progressing; management cites strong surgeon and sales force retention.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.7

GLOBUS MEDICAL INC reported three-month period ended March 31, 2024 results: revenue $606.7 million, net income $7.1 million net loss, EPS ($0.05).

Period: three-month period ended March 31, 2024
Revenue: $606.7 million
Net income: $7.1 million net loss
EPS: ($0.05)
Result: reported results

Exact text from the filing

Inc. (NYSE: GMED), a leading musculoskeletal solutions company, today announced its financial results for the quarter ended March 3 1 , 202 4 . · Worldwide net sales were $ 606.7 million , an increase of 119 . 3 % , or 119.8% on a constant currency basis · GAAP net loss for the quarter was $ 7. 1 million · GAAP d iluted e arnings p er share (“ EPS ”) was ( $0. 0

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Source: SEC EDGAR

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