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Globus Medical reported 4Q24 orthopedic sales of $657.3 million, up 6.6% compared to the fourth quarter of 2023. For the full year, the company generated $2.5 billion in orthopedic sale, up 60.6% compared to the prior year.
Globus’ strong year included 18 newly-launched products with five of those coming in the fourth quarter, including the ExcelsiusFlex robotic navigation platform and the ACTIFY Unicondylar Knee.
The company’s existing enabling technology portfolio set a record for robotic, imaging systems and hub placements. Market penetration has plenty of room to grow for Globus as well. The company said cross-selling into legacy NuVasive accounts is just starting, with this year bringing more progress.
Globus executed well in its first year of integration with NuVasive. Focus areas for year two include common system implementation for international markets, expanded in-house production, consolidation of external vendors and more cross-selling.
The company recently announced a definitive agreement to purchase Nevro for $250 million. While Nevro’s neuromodulation and SI-joint products enhance Globus’ offering, the deal seems like a longer term play. The company cited cranial enabling technology, next-generation spinal implants and data mining as potential applications.
“The fact that it was out there as an asset that we looked at not only for neuromodulation, but with applications that we believe will go into our development portfolio in a meaningful way. It really looks like it’s a more well-rounded asset for us to build on. And while we’re interested in entering into that and capitalizing high frequency in that area, we’re thinking that there’s reaches beyond that,” said Globus Medical Dan Scavilla.
Globus expects standalone sales between $2.66 billion and $2.69 billion in 2025, and between $2.8 billion and $2.9 billion inclusive of Nevro.
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 | 4Q24 | 4Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $554.4 | $530.9 | $23.5 | 4.4% |
| Trauma | $19.3 | $17.9 | $1.5 | 8.1% |
| Orthobiologics | $36.6 | $35.0 | $1.6 | 4.5% |
| Enabling Technology | $47.0 | $32.7 | $14.2 | 43.5% |
| Total | $657.3 | $616.5 | $40.8 | 6.6% |
| Segment | FY24 | FY23 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $2,126.7 | $1,332.7 | $794.1 | 59.6% |
| Trauma | $87.9 | $38.6 | $49.3 | 127.7% |
| Orthobiologics | $150.7 | $77.0 | $73.7 | 95.7% |
| Enabling Technology | $154.0 | $120.2 | $33.8 | 28.1% |
| Total | $2,519.4 | $1,568.5 | $950.9 | 60.6% |
Orthopedic Sales by Geography
| Region | 4Q24 | 4Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $521.9 | $490.8 | $31.1 | 6.3% |
| OUS | $135.4 | $125.7 | $9.7 | 7.7% |
| Total | $657.3 | $616.5 | $40.8 | 6.6% |
| Region | FY24 | FY23 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $2,000.1 | $1,279.8 | $720.3 | 56.3% |
| OUS | $519.3 | $288.7 | $230.6 | 79.9% |
| Total | $2,519.4 | $1,568.5 | $950.9 | 60.6% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $657.3 | |
| Cost of Sales | $263.4 | 40.1% |
| R & D | $33.4 | 5.1% |
| Selling and Admin | $253.5 | 38.6% |
| Other | $80.5 | 12.2% |
| Comprehensive Income | $26.5 | 4% |
Globus Medical reported 4Q24 orthopedic sales of $657.3 million, up 6.6% compared to the fourth quarter of 2023. For the full year, the company generated $2.5 billion in orthopedic sale, up 60.6% compared to the prior year.
Globus' strong year included 18 newly-launched products with five of those coming in the fourth quarter, including...
Globus Medical reported 4Q24 orthopedic sales of $657.3 million, up 6.6% compared to the fourth quarter of 2023. For the full year, the company generated $2.5 billion in orthopedic sale, up 60.6% compared to the prior year.
Globus’ strong year included 18 newly-launched products with five of those coming in the fourth quarter, including the ExcelsiusFlex robotic navigation platform and the ACTIFY Unicondylar Knee.
The company’s existing enabling technology portfolio set a record for robotic, imaging systems and hub placements. Market penetration has plenty of room to grow for Globus as well. The company said cross-selling into legacy NuVasive accounts is just starting, with this year bringing more progress.
Globus executed well in its first year of integration with NuVasive. Focus areas for year two include common system implementation for international markets, expanded in-house production, consolidation of external vendors and more cross-selling.
The company recently announced a definitive agreement to purchase Nevro for $250 million. While Nevro’s neuromodulation and SI-joint products enhance Globus’ offering, the deal seems like a longer term play. The company cited cranial enabling technology, next-generation spinal implants and data mining as potential applications.
“The fact that it was out there as an asset that we looked at not only for neuromodulation, but with applications that we believe will go into our development portfolio in a meaningful way. It really looks like it’s a more well-rounded asset for us to build on. And while we’re interested in entering into that and capitalizing high frequency in that area, we’re thinking that there’s reaches beyond that,” said Globus Medical Dan Scavilla.
Globus expects standalone sales between $2.66 billion and $2.69 billion in 2025, and between $2.8 billion and $2.9 billion inclusive of Nevro.
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 | 4Q24 | 4Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $554.4 | $530.9 | $23.5 | 4.4% |
| Trauma | $19.3 | $17.9 | $1.5 | 8.1% |
| Orthobiologics | $36.6 | $35.0 | $1.6 | 4.5% |
| Enabling Technology | $47.0 | $32.7 | $14.2 | 43.5% |
| Total | $657.3 | $616.5 | $40.8 | 6.6% |
| Segment | FY24 | FY23 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $2,126.7 | $1,332.7 | $794.1 | 59.6% |
| Trauma | $87.9 | $38.6 | $49.3 | 127.7% |
| Orthobiologics | $150.7 | $77.0 | $73.7 | 95.7% |
| Enabling Technology | $154.0 | $120.2 | $33.8 | 28.1% |
| Total | $2,519.4 | $1,568.5 | $950.9 | 60.6% |
Orthopedic Sales by Geography
| Region | 4Q24 | 4Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $521.9 | $490.8 | $31.1 | 6.3% |
| OUS | $135.4 | $125.7 | $9.7 | 7.7% |
| Total | $657.3 | $616.5 | $40.8 | 6.6% |
| Region | FY24 | FY23 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $2,000.1 | $1,279.8 | $720.3 | 56.3% |
| OUS | $519.3 | $288.7 | $230.6 | 79.9% |
| Total | $2,519.4 | $1,568.5 | $950.9 | 60.6% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $657.3 | |
| Cost of Sales | $263.4 | 40.1% |
| R & D | $33.4 | 5.1% |
| Selling and Admin | $253.5 | 38.6% |
| Other | $80.5 | 12.2% |
| Comprehensive Income | $26.5 | 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.
