)
Company Research20 Mar 2024
Companies That Had Their IPO in 1987: From Optimism to Black Monday
An overview of 1987's IPO landscape and stock market sentiment, as conditions turned from unabridged optimism to panic in the wake of Black Monday.
CONMED
CONMED (CNMD) investor relations material
CONMED Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary28 Jan, 2026
Executive summary
Fourth quarter 2025 sales reached $373.2 million, up 7.9% year-over-year as reported and 7.1% in constant currency; full-year sales were $1,374.7 million, up 5.2% as reported and 5.1% in constant currency.
Adjusted diluted EPS for Q4 2025 was $1.43, up 6.7% year-over-year; full-year adjusted EPS was $4.59, up 10.1%.
Orthopedic sales led growth, increasing 12.1% in Q4 and 5.5% for the year in constant currency; general surgery sales rose 3.8% in Q4 and 4.7% for the year.
International revenue growth outpaced domestic, with Q4 international revenue up 15.4%–17.0% year-over-year.
Announced $150 million share repurchase program and strategic exit from gastroenterology product lines to focus on high-growth, high-margin platforms.
Financial highlights
Q4 adjusted gross margin was 56.6%, down 100 bps year-over-year due to tariffs; full-year adjusted gross margin was 56.4%.
Q4 GAAP net income was $16.7 million ($0.54 EPS), down from $33.8 million ($1.08 EPS) last year; full-year GAAP net income was $47.1 million ($1.51 EPS), down from $132.4 million ($4.25 EPS) in 2024.
Adjusted EBITDA for 2025 was $275.9 million, up from $265.6 million in 2024.
Cash flow from operations was $46.3 million in Q4 and $170.7 million for the year; free cash flow conversion reached 105% in 2025.
Year-end cash balance was $40.8 million; long-term debt was $834.2 million; leverage ratio at 2.9x.
Outlook and guidance
2026 revenue guidance: $1.345–$1.375 billion, representing 4.5–6% constant currency organic growth, excluding gastroenterology product sales.
Adjusted gross margin expected to improve 50–100 bps in 2026 despite 100–110 bps tariff headwinds.
Adjusted SG&A to be 38.0–38.5% of sales; adjusted R&D to be 4.5–5% of sales in 2026.
Adjusted EPS guidance for 2026: $4.30–$4.45, including headwinds from GI exit and tariffs, and a $0.10 currency tailwind.
2026 operating cash flow expected at $145–$155 million; capex $20–$30 million; adjusted EBITDA $255–$265 million.
Beyond GI, any further portfolio exits planned?
AirSeal growth confidence despite ASC/cost?
Supply chain progress for sustained ortho growth
Partial view of Summaries dataset, powered by Quartr API
AI can get things wrong. Verify important information.Research faster. Power your platform.
Latest events from CONMED
- Q2 sales rose 4.5% with margin gains, but guidance was cut due to supply chain issues.CNMD
Q2 20242 Feb 2026 - Low double-digit growth, robust innovation, and margin expansion drive a positive outlook.CNMDJefferies Global Healthcare Conference1 Feb 2026
- Supply chain recovery, stable growth, and strong AirSeal performance drive positive outlook.CNMD2024 Wells Fargo Healthcare Conference22 Jan 2026
- Supply challenges ease as innovation and legislative trends drive growth and margin recovery.CNMDCL King’s 22nd Annual Best Ideas Conference 202420 Jan 2026
- Q3 sales up 4%, net income and adjusted EPS rose, with raised full-year EPS guidance.CNMDQ3 202417 Jan 2026
- 2026 guidance targets $1.345B–$1.450B revenue and $4.25–$4.45 EPS, led by innovation and buybacks.CNMD44th Annual J.P. Morgan Healthcare Conference13 Jan 2026
- CEO retires as growth platforms, innovation, and recovery position the business for strong 2025.CNMDStifel 2024 Healthcare Conference13 Jan 2026
- Growth-focused leadership, disciplined M&A, and strong product momentum drive future expansion.CNMDJefferies London Healthcare Conference 202413 Jan 2026
- Growth driven by innovation in AirSeal, Buffalo Filter, and BioBrace, with margin and market expansion.CNMDPiper Sandler 36th Annual Healthcare Conference12 Jan 2026
Next CONMED earnings date
Q1 202629 Apr, 2026
CONMED
Next CONMED earnings date
Q1 202629 Apr, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Explore our global coverage