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Stryker reported 1Q26 orthopedic sales of $3.1 billion, up 0.6% compared to the first quarter of 2025. Notably, these results include Stryker’s divested spinal implant business and impact from the cyber incident that hit the company late in the quarter.
Given the consignment nature of orthopedic implants, the hack primarily disrupted Stryker’s revenue recognition timing for its orthopedic businesses. Company CEO Kevin Lobo said he didn’t expect to lose customers over the disruption, and that Stryker may have emerged with an even stronger reputation given its resilience and response.
Mako had its strongest first quarter ever in terms of installations. Additionally, Mako Shoulder is slated for a rollout in mid-2026 while the handheld Mako RPS is gaining traction with customers.
“We’re getting tremendous feedback from customers that felt that the move all the way to Mako was a bit too big of a leap,” said Stryker CEO Kevin Lobo. “For now, it seems like the ASC has been a bit of a sweet spot. The actual transition to RPS is much easier for a surgeon than going all the way to Mako. In terms of how you do the procedure, it’s just very easy to adopt. There were some competitive surgeons who really like the idea of going to a robotic solution with haptic boundaries. But just the move all the way to Mako was just a little bit too intimidating.”
While the hack obscured Stryker’s view of the foot and ankle market’s health, its Pangea plating system has driven “explosive growth” and is now approved in both Japan and Europe. The company expects Pangea to drive growth tailwinds into 2028.
Stryker reiterated its 2026 guidance of 8% to 9.5% organic growth of total company revenue.
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 | 1Q26 | 1Q25 | $ Chg | % Chg |
|---|---|---|---|---|
| Joint Replacement | $1,377.9 | $1,319.1 | $58.7 | 4.5% |
| Knees | $669.5 | $639.5 | $30.0 | 4.7% |
| Hips | $460.0 | $443.4 | $16.6 | 3.7% |
| Extremities | $248.3 | $236.2 | $12.1 | 5.1% |
| Spine | $2.0 | $166.0 | ($164.0) | (98.8%) |
| Trauma | $786.2 | $708.6 | $77.6 | 11% |
| Sports Medicine | $235.0 | $221.3 | $13.7 | 6.2% |
| Orthobiologics | $84.2 | $81.8 | $2.4 | 2.9% |
| Enabling Technology | $128.6 | $123.4 | $5.2 | 4.2% |
| Other | $517.6 | $493.6 | $24.0 | 4.9% |
| Total | $3,131.4 | $3,113.9 | $17.6 | 0.6% |
Orthopedic Sales by Geography
| Region | 1Q26 | 1Q25 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $2,212.8 | $2,247.9 | ($35.1) | (1.6%) |
| OUS | $918.7 | $866.0 | $52.7 | 6.1% |
| EMEA | $438.4 | $420.4 | $18.0 | 4.3% |
| APAC | $328.8 | $311.4 | $17.4 | 5.6% |
| ROW | $151.5 | $134.3 | $17.2 | 12.8% |
| Total | $3,131.4 | $3,113.9 | $17.6 | 0.6% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $6,020.0 | |
| Cost of Sales | $2,210.0 | 36.7% |
| Selling and Admin | $2,281.0 | 37.9% |
| R & D | $413.0 | 6.9% |
| Other | $371.0 | 6.2% |
| Net Earnings | $745.0 | 12.4% |
Stryker reported 1Q26 orthopedic sales of $3.1 billion, up 0.6% compared to the first quarter of 2025. Notably, these results include Stryker's divested spinal implant business and impact from the cyber incident that hit the company late in the quarter.
Given the consignment nature of orthopedic implants, the hack primarily disrupted...
Stryker reported 1Q26 orthopedic sales of $3.1 billion, up 0.6% compared to the first quarter of 2025. Notably, these results include Stryker’s divested spinal implant business and impact from the cyber incident that hit the company late in the quarter.
Given the consignment nature of orthopedic implants, the hack primarily disrupted Stryker’s revenue recognition timing for its orthopedic businesses. Company CEO Kevin Lobo said he didn’t expect to lose customers over the disruption, and that Stryker may have emerged with an even stronger reputation given its resilience and response.
Mako had its strongest first quarter ever in terms of installations. Additionally, Mako Shoulder is slated for a rollout in mid-2026 while the handheld Mako RPS is gaining traction with customers.
“We’re getting tremendous feedback from customers that felt that the move all the way to Mako was a bit too big of a leap,” said Stryker CEO Kevin Lobo. “For now, it seems like the ASC has been a bit of a sweet spot. The actual transition to RPS is much easier for a surgeon than going all the way to Mako. In terms of how you do the procedure, it’s just very easy to adopt. There were some competitive surgeons who really like the idea of going to a robotic solution with haptic boundaries. But just the move all the way to Mako was just a little bit too intimidating.”
While the hack obscured Stryker’s view of the foot and ankle market’s health, its Pangea plating system has driven “explosive growth” and is now approved in both Japan and Europe. The company expects Pangea to drive growth tailwinds into 2028.
Stryker reiterated its 2026 guidance of 8% to 9.5% organic growth of total company revenue.
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 | 1Q26 | 1Q25 | $ Chg | % Chg |
|---|---|---|---|---|
| Joint Replacement | $1,377.9 | $1,319.1 | $58.7 | 4.5% |
| Knees | $669.5 | $639.5 | $30.0 | 4.7% |
| Hips | $460.0 | $443.4 | $16.6 | 3.7% |
| Extremities | $248.3 | $236.2 | $12.1 | 5.1% |
| Spine | $2.0 | $166.0 | ($164.0) | (98.8%) |
| Trauma | $786.2 | $708.6 | $77.6 | 11% |
| Sports Medicine | $235.0 | $221.3 | $13.7 | 6.2% |
| Orthobiologics | $84.2 | $81.8 | $2.4 | 2.9% |
| Enabling Technology | $128.6 | $123.4 | $5.2 | 4.2% |
| Other | $517.6 | $493.6 | $24.0 | 4.9% |
| Total | $3,131.4 | $3,113.9 | $17.6 | 0.6% |
Orthopedic Sales by Geography
| Region | 1Q26 | 1Q25 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $2,212.8 | $2,247.9 | ($35.1) | (1.6%) |
| OUS | $918.7 | $866.0 | $52.7 | 6.1% |
| EMEA | $438.4 | $420.4 | $18.0 | 4.3% |
| APAC | $328.8 | $311.4 | $17.4 | 5.6% |
| ROW | $151.5 | $134.3 | $17.2 | 12.8% |
| Total | $3,131.4 | $3,113.9 | $17.6 | 0.6% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $6,020.0 | |
| Cost of Sales | $2,210.0 | 36.7% |
| Selling and Admin | $2,281.0 | 37.9% |
| R & D | $413.0 | 6.9% |
| Other | $371.0 | 6.2% |
| Net Earnings | $745.0 | 12.4% |
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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.
