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CONMED (CNMD) investor relations material

CONMED Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary5 Nov, 2025

Executive summary

  • Q3 2025 sales reached $338 million, up 6.7% year-over-year as reported and 6.3% in constant currency.

  • Adjusted diluted EPS was $1.08, up 2.9% year-over-year; GAAP EPS dropped to $0.09 from $1.57, reflecting special items and non-recurring costs.

  • Net income for Q3 2025 was $2.9 million, down sharply from $49.0 million in Q3 2024 due to higher costs and one-time charges.

  • Strategic review and operational optimization underway to sharpen focus on high-return product lines and improve margins.

  • Board authorized a $150 million share repurchase program, suspending the dividend to prioritize buybacks.

Financial highlights

  • Q3 2025 net sales: $337.9 million (up 6.7% year-over-year); nine months: $1,001.5 million (up 4.2%).

  • Gross profit margin for Q3 2025 was 49.2%, down from 56.5% in Q3 2024, mainly due to inventory write-offs, consulting fees, and tariffs.

  • Adjusted gross margin was 56.1%, down 40 basis points from Q3 2024 due to manufacturing variances and tariffs.

  • Cash flow from operations was $53.7 million in Q3, up from $51.2 million a year ago; nine-month operating cash flow was $124.4 million.

  • Effective tax rate increased to 33.1% in Q3 2025 from 13.2% in Q3 2024.

Outlook and guidance

  • Full-year 2025 revenue guidance narrowed to $1.365–$1.372 billion, with Q4 revenue expected at $363–$370 million.

  • Q4 adjusted EPS expected between $1.30–$1.35; full-year adjusted EPS guidance $4.48–$4.53, with $0.10 FX and $0.09–$0.10 tariff headwind.

  • Adjusted gross margin in Q4 projected in the mid-55% range, with 150 basis points tariff headwind.

  • Management expects continued impact from inflation, supply chain challenges, and tariffs.

  • Sufficient liquidity and borrowing capacity to meet anticipated needs.

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Frequently asked questions

CONMED Corporation develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures worldwide. The company offers orthopedic surgery products, such as powered surgical instruments for use in arthroscopic and reconstructive orthopedic surgeries; sports medicine products; electrosurgical products that include generators, electrodes, and accessories; video equipment to facilitate visualization of the surgical field during minimally invasive procedures; and disposable fluid management systems to support various surgical procedures.

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