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Globus Medical
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Latest analysis
Updated Aug 6, 2026
Globus Medical raises non-GAAP EPS guidance 5% at midpoint on 740 bps EBITDA margin expansion, reaffirms $3.18-3.22B revenue range
Globus Medical delivered Q2 2026 revenue of $789.6 million with base-business growth of 9% — its fifth consecutive quarter of above-market U.S. Spine growth — while achieving a seventh straight quarter of adjusted gross margin expansion to 69.4% and a record quarterly non-GAAP EPS of $1.34. The company raised full-year non-GAAP EPS guidance to $4.95-$5.05 from $4.70-$4.80, reflecting durable operating leverage, while holding revenue guidance steady as Nevro integration headwinds and the Enabling Technologies capital model shift represent the primary range-bounding risks. Management's explicit target of returning to mid-70s adjusted gross margin by 2027 and mid-30s EBITDA — already achieved ahead of the original three-year NuVasive merger commitment — establishes a credible multi-year earnings compounding thesis.
Tone: bullishRevenue
$2.9B
GMED 10-K · FY 2025
Employees
6,000
Revenue FY2024
$2.5B
EBITDA margin
35.4%
Profile
GMED 10-K Item 1 · Feb 24, 2026Globus Medical is a musculoskeletal medical device company headquartered in Audubon, Pennsylvania, founded in 2003. It develops and commercializes implantable devices, biologics, spinal cord stimulation therapy, neuromonitoring services, and imaging/navigation/robotics systems for spine, orthopedic, and neurosurgical procedures. The company operates across 65 countries and manages its business within one reportable segment.
Read filing description ↓ Collapse description ↑
Globus Medical, Inc., headquartered in Audubon, Pennsylvania, is a medical device company that develops and commercializes healthcare solutions whose mission is to improve the quality of life of patients with musculoskeletal disorders. Founded in 2003, Globus is committed to medical device innovation and delivering exceptional service to hospitals, ambulatory surgery centers and physicians to advance patient care and improve efficiency. Since inception, Globus has listened to the voice of the surgeon to develop practical solutions and products to help surgeons effectively treat patients and improve lives. Globus is an engineering-driven company with a history of rapidly developing and commercializing advanced products and procedures to address treatment challenges. With 9 product launches in 2025 and operations across 65 countries worldwide, we offer a comprehensive portfolio of innovative and differentiated technologies that are used to treat a variety of musculoskeletal conditions. Although we manage our business globally within one reportable segment, we separate our products and services into two major categories: Musculoskeletal Solutions and Enabling Technologies. Our Musculoskeletal Solutions consist primarily of implantable devices, biologics, accessories, unique surgical instruments, spinal cord stimulation treatment therapy, and neuromonitoring services, used in an expansive range of spinal, orthopedic and neurosurgical procedures. Our Enabling Technologies are comprised of imaging, navigation and robotics solutions for assisted surgery which are advanced computer-assisted intelligent systems designed to enhance a surgeon's capabilities, and ultimately improve patient care and reduce radiation exposure for all involved, by streamlining surgical procedures to be safer, less invasive, and more accurate.
Primary products
- ExcelsiusGPS® robotic guidance and navigation system
- Excelsius3D™ intraoperative imaging platform
- ExcelsiusHub®
- ExcelsiusFlex® total knee arthroplasty robotic solution
- ExcelsiusXR® extended reality navigation headset
- Surgimap® surgical planning software
Business segments
End markets
Geographies
Named competitors
“We believe that our significant competitors are Medtronic, DePuy Synthes, Stryker, Zimmer Biomet, and Smith + Nephew.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Net sales grew from $2.52 billion in 2024 to $2.94 billion in 2025, driven in part by the addition of Nevro's spinal cord stimulation revenues following the April 2025 merger close.
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