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Globus Medical reported 4Q25 orthopedic sales of $826.4 million, up 25.7% compared to the fourth quarter of 2024. For the full year, the company generated $2.9 billion in orthopedic sales, up 16.7% compared to the prior year.
Excluding revenue from the Nevro acquisition, Globus grew 10.6% for the quarter and 5% for the year.
“We are moving past the M&A digestion of the past several years and see a path to meaningful and expanded product development investment, continued above-market sales growth and sustainable operating leverage,” said Globus Medical CEO Keith Pfeil.
Globus’ 2025 was largely a tale of two halves. An overall disappointing first quarter gave way to soft results in enabling technology during the second quarter. In the second half, however, U.S. spine sales were revitalized and Globus was able to hit a record for enabling technology revenue and systems placed during the fourth quarter.
The company expects to be more aggressive and flexible when it comes to enabling technology deals in its pipeline, calling it a “key focus” for its 2026 strategy.
Globus doesn’t expect its joint replacement robot, ExcelsiusFLex, to be a major revenue contributor in 2026 as it continues to modernize its implant designs.
For 2026, the company expects total sales between $3.18 billion and $3.22 billion, representing growth between 8.2% and 9.6%.
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 | 4Q25 | 4Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $607.0 | $554.4 | $52.6 | 9.5% |
| Trauma | $24.5 | $19.3 | $5.2 | 26.8% |
| Orthobiologics | $39.5 | $36.6 | $2.9 | 7.9% |
| Enabling Technology | $55.6 | $47.0 | $8.7 | 18.5% |
| Other | $99.7 | |||
| Total | $826.4 | $657.3 | $169.1 | 25.7% |
| Segment | FY25 | FY23 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $2,247.7 | $2,126.7 | $121.0 | 5.7% |
| Trauma | $103.1 | $87.9 | $15.2 | 17.3% |
| Orthobiologics | $153.5 | $150.7 | $2.8 | 1.9% |
| Enabling Technology | $141.0 | $154.0 | ($13.0) | (8.4%) |
| Other | $293.6 | $0.0 | $0.0 | 0% |
| Total | $2,938.9 | $2,519.4 | $419.6 | 16.7% |
Orthopedic Sales by Geography
| Region | 4Q25 | 4Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $665.3 | $521.9 | $143.4 | 27.5% |
| OUS | $161.1 | $135.4 | $25.7 | 19% |
| Total | $826.4 | $657.3 | $169.1 | 25.7% |
| Region | FY25 | FY23 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $2,367.6 | $2,000.1 | $367.5 | 18.4% |
| OUS | $571.3 | $519.3 | $52.0 | 10% |
| Total | $2,938.9 | $2,519.4 | $419.6 | 16.7% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $826.4 | |
| Cost of Sales | $261.1 | 31.6% |
| R & D | $36.1 | 4.4% |
| Selling and Admin | $318.5 | 38.5% |
| Other | $70.1 | 8.5% |
| Net Earnings | $140.6 | 17% |
Globus Medical reported 4Q25 orthopedic sales of $826.4 million, up 25.7% compared to the fourth quarter of 2024. For the full year, the company generated $2.9 billion in orthopedic sales, up 16.7% compared to the prior year.
Excluding revenue from the Nevro acquisition, Globus grew 10.6% for the quarter and 5% for the year.
"We are...
Globus Medical reported 4Q25 orthopedic sales of $826.4 million, up 25.7% compared to the fourth quarter of 2024. For the full year, the company generated $2.9 billion in orthopedic sales, up 16.7% compared to the prior year.
Excluding revenue from the Nevro acquisition, Globus grew 10.6% for the quarter and 5% for the year.
“We are moving past the M&A digestion of the past several years and see a path to meaningful and expanded product development investment, continued above-market sales growth and sustainable operating leverage,” said Globus Medical CEO Keith Pfeil.
Globus’ 2025 was largely a tale of two halves. An overall disappointing first quarter gave way to soft results in enabling technology during the second quarter. In the second half, however, U.S. spine sales were revitalized and Globus was able to hit a record for enabling technology revenue and systems placed during the fourth quarter.
The company expects to be more aggressive and flexible when it comes to enabling technology deals in its pipeline, calling it a “key focus” for its 2026 strategy.
Globus doesn’t expect its joint replacement robot, ExcelsiusFLex, to be a major revenue contributor in 2026 as it continues to modernize its implant designs.
For 2026, the company expects total sales between $3.18 billion and $3.22 billion, representing growth between 8.2% and 9.6%.
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 | 4Q25 | 4Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $607.0 | $554.4 | $52.6 | 9.5% |
| Trauma | $24.5 | $19.3 | $5.2 | 26.8% |
| Orthobiologics | $39.5 | $36.6 | $2.9 | 7.9% |
| Enabling Technology | $55.6 | $47.0 | $8.7 | 18.5% |
| Other | $99.7 | |||
| Total | $826.4 | $657.3 | $169.1 | 25.7% |
| Segment | FY25 | FY23 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $2,247.7 | $2,126.7 | $121.0 | 5.7% |
| Trauma | $103.1 | $87.9 | $15.2 | 17.3% |
| Orthobiologics | $153.5 | $150.7 | $2.8 | 1.9% |
| Enabling Technology | $141.0 | $154.0 | ($13.0) | (8.4%) |
| Other | $293.6 | $0.0 | $0.0 | 0% |
| Total | $2,938.9 | $2,519.4 | $419.6 | 16.7% |
Orthopedic Sales by Geography
| Region | 4Q25 | 4Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $665.3 | $521.9 | $143.4 | 27.5% |
| OUS | $161.1 | $135.4 | $25.7 | 19% |
| Total | $826.4 | $657.3 | $169.1 | 25.7% |
| Region | FY25 | FY23 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $2,367.6 | $2,000.1 | $367.5 | 18.4% |
| OUS | $571.3 | $519.3 | $52.0 | 10% |
| Total | $2,938.9 | $2,519.4 | $419.6 | 16.7% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $826.4 | |
| Cost of Sales | $261.1 | 31.6% |
| R & D | $36.1 | 4.4% |
| Selling and Admin | $318.5 | 38.5% |
| Other | $70.1 | 8.5% |
| Net Earnings | $140.6 | 17% |
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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.
