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Medtronic reported FY 3Q26 orthopedic sales of $884.6 million, up 4.5% compared to the fiscal year third quarter of 2025. For the first nine months of the company’s fiscal year it generated $2.6 billion in orthopedic sales, up 4.5% compared to the prior nine months.
Enabling technology pull-through helped Medtronic grow its Core Spine offering in the high single digits for the quarter, but the biggest news to come out of the earnings call was the clearance of the Stealth AXiS system. The system features AI-powered planning, robotics and navigation. It is designed to fit more seamlessly into spine surgeons’ existing navigation workflows.
“Today 70% of procedures in the U.S. are navigated,” said Medtronic CEO Geoffrey Martha. “Robotics doesn’t work well with that workflow. So that’s why robotic penetration is a lot smaller than the 70% that we’re seeing with navigation. The Stealth AXiS fits right into that workflow. This is effectively lowering the barriers to step into robotics for spine surgery, and it’s going to grow the market.”
The company expects the new platform to bring short- and long-term benefits to its spine business, with impacts likely coming within the next quarter.
Orthopedic Sales Data
Unless otherwise noted, all orthopedic sales data is provided in USD millions. We estimate orthopedic sales and growth rates on an as-reported basis.
Orthopedic Sales by Segment
| Segment | 3Q26 | 3Q25 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $626.5 | $596.7 | $29.8 | 5% |
| Orthobiologics | $146.5 | $141.9 | $4.5 | 3.2% |
| Enabling Technology | $28.2 | $27.3 | $0.8 | 3% |
| Other | $83.4 | $80.8 | $2.6 | 3.3% |
| Total | $884.6 | $846.8 | $37.8 | 4.5% |
| Segment | 9m26 | 9m25 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $1,875.0 | $1,788.6 | $86.5 | 4.8% |
| Orthobiologics | $420.3 | $407.2 | $13.2 | 3.2% |
| Enabling Technology | $121.6 | $115.4 | $6.2 | 5.4% |
| Other | $243.9 | $234.8 | $9.1 | 3.9% |
| Total | $2,660.9 | $2,545.9 | $115.0 | 4.5% |
Orthopedic Sales by Geography
| Region | 3Q26 | 3Q25 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $659.7 | $638.8 | $20.9 | 3.3% |
| OUS | $224.9 | $208.0 | $16.9 | 8.1% |
| Total | $884.6 | $846.8 | $37.8 | 4.5% |
| Region | 9m26 | 9m25 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $1,974.0 | $1,909.6 | $64.4 | 3.4% |
| OUS | $686.9 | $636.3 | $50.6 | 8% |
| Total | $2,660.9 | $2,545.9 | $115.0 | 4.5% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $9,017.0 | |
| Cost of Sales | $3,261.0 | 36.2% |
| Selling and Admin | $2,956.0 | 32.8% |
| R & D | $722.0 | 8% |
| Other | $935.0 | 10.4% |
| Net Earnings | $1,143.0 | 12.7% |
Medtronic reported FY 3Q26 orthopedic sales of $884.6 million, up 4.5% compared to the fiscal year third quarter of 2025. For the first nine months of the company's fiscal year it generated $2.6 billion in orthopedic sales, up 4.5% compared to the prior nine months.
Enabling technology pull-through helped Medtronic grow its Core Spine...
Medtronic reported FY 3Q26 orthopedic sales of $884.6 million, up 4.5% compared to the fiscal year third quarter of 2025. For the first nine months of the company’s fiscal year it generated $2.6 billion in orthopedic sales, up 4.5% compared to the prior nine months.
Enabling technology pull-through helped Medtronic grow its Core Spine offering in the high single digits for the quarter, but the biggest news to come out of the earnings call was the clearance of the Stealth AXiS system. The system features AI-powered planning, robotics and navigation. It is designed to fit more seamlessly into spine surgeons’ existing navigation workflows.
“Today 70% of procedures in the U.S. are navigated,” said Medtronic CEO Geoffrey Martha. “Robotics doesn’t work well with that workflow. So that’s why robotic penetration is a lot smaller than the 70% that we’re seeing with navigation. The Stealth AXiS fits right into that workflow. This is effectively lowering the barriers to step into robotics for spine surgery, and it’s going to grow the market.”
The company expects the new platform to bring short- and long-term benefits to its spine business, with impacts likely coming within the next quarter.
Orthopedic Sales Data
Unless otherwise noted, all orthopedic sales data is provided in USD millions. We estimate orthopedic sales and growth rates on an as-reported basis.
Orthopedic Sales by Segment
| Segment | 3Q26 | 3Q25 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $626.5 | $596.7 | $29.8 | 5% |
| Orthobiologics | $146.5 | $141.9 | $4.5 | 3.2% |
| Enabling Technology | $28.2 | $27.3 | $0.8 | 3% |
| Other | $83.4 | $80.8 | $2.6 | 3.3% |
| Total | $884.6 | $846.8 | $37.8 | 4.5% |
| Segment | 9m26 | 9m25 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $1,875.0 | $1,788.6 | $86.5 | 4.8% |
| Orthobiologics | $420.3 | $407.2 | $13.2 | 3.2% |
| Enabling Technology | $121.6 | $115.4 | $6.2 | 5.4% |
| Other | $243.9 | $234.8 | $9.1 | 3.9% |
| Total | $2,660.9 | $2,545.9 | $115.0 | 4.5% |
Orthopedic Sales by Geography
| Region | 3Q26 | 3Q25 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $659.7 | $638.8 | $20.9 | 3.3% |
| OUS | $224.9 | $208.0 | $16.9 | 8.1% |
| Total | $884.6 | $846.8 | $37.8 | 4.5% |
| Region | 9m26 | 9m25 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $1,974.0 | $1,909.6 | $64.4 | 3.4% |
| OUS | $686.9 | $636.3 | $50.6 | 8% |
| Total | $2,660.9 | $2,545.9 | $115.0 | 4.5% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $9,017.0 | |
| Cost of Sales | $3,261.0 | 36.2% |
| Selling and Admin | $2,956.0 | 32.8% |
| R & D | $722.0 | 8% |
| Other | $935.0 | 10.4% |
| Net Earnings | $1,143.0 | 12.7% |
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ME
Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
