Globus Medical Q3 2024 10-Q Filing

TL;DR

Globus Medical filed its Q3 2024 10-Q. Check financials for latest performance.

AI Summary

Globus Medical Inc. reported its Q3 2024 results on November 5, 2024. The company's fiscal year ends on December 31st. Key financial data and reporting periods from April 1, 2023, to September 30, 2024, are included in this filing.

Why It Matters

This filing provides investors with the latest financial performance and operational details for Globus Medical, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing (10-Q) and does not inherently present new risks.

Key Numbers

• Q3 2024 — Quarterly Period (Reporting period for the 10-Q filing.)
• 2024-09-30 — As of Date (The end date for the financial reporting period.)
• 2024-11-05 — Filing Date (Date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• GLOBUS MEDICAL INC (company) — Filer
• 20240930 (date) — Conformed Period of Report
• 20241105 (date) — Filed as of Date
• 0001237831 (company) — Central Index Key
• 3841 (dollar_amount) — Standard Industrial Classification Code

FAQ

Key Financial Figures

• $0.001 — of the issuer's common stock (par value $0.001 per share) as of November 1, 2024 was 1

Filing Documents

• gmed-20240930x10q.htm (10-Q) — 5429KB
• gmed-20240930xex31_1.htm (EX-31.1) — 21KB
• gmed-20240930xex31_2.htm (EX-31.2) — 24KB
• gmed-20240930xex32.htm (EX-32) — 25KB
• 0001562762-24-000254.txt ( ) — 21318KB
• gmed-20240930.xsd (EX-101.SCH) — 69KB
• gmed-20240930_cal.xml (EX-101.CAL) — 116KB
• gmed-20240930_def.xml (EX-101.DEF) — 293KB
• gmed-20240930_lab.xml (EX-101.LAB) — 587KB
• gmed-20240930_pre.xml (EX-101.PRE) — 566KB
• gmed-20240930x10q_htm.xml (XML) — 5664KB

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets (Unaudited) September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) Three and nine months ended September 30, 2024 and September 30, 2023 4 Condensed Consolidated Statements of Equity (Unaudited) Three and nine months ended September 30, 2024 and September 30, 2023 5 Condensed Consolidated Statements of Cash Flows (Unaudited) Nine months ended September 30, 2024 and September 30, 2023 6 Notes to Condensed Consolidated Financial Statements (Unaudited) 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 32 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 41 Item 4.

Controls and Procedures

Controls and Procedures 41 PART II. OTHER INFORMATION 42 Item 1.

Legal Proceedings

Legal Proceedings 42 Item 1A.

Risk Factors

Risk Factors 42 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 42 Item 3. Defaults Upon Senior Securities 42 Item 4. Mine Safety Disclosures 42 Item 5. Other Information 43 Item 6. Exhibits 43

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements GLOBUS MEDICAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) September 30, December 31, (In thousands, except share and per share values) 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 622,766 $ 467,292 Short-term marketable securities 71,940 50,497 Accounts receivable, net of allowances of $ 23,542 and $ 8,934 , respectively 588,047 503,235 Inventories 717,703 848,135 Prepaid expenses and other current assets 50,924 44,580 Income taxes receivable 5,149 1,635 Total current assets 2,056,529 1,915,374 Property and equipment, net of accumulated depreciation of $ 505,982 and $ 425,695 , respectively 567,822 586,932 Operating lease right of use assets 52,824 59,931 Long-term marketable securities 12,297 75,428 Intangible assets, net 842,778 924,603 Goodwill 1,431,666 1,434,540 Other assets 76,643 78,590 Deferred income taxes 45,485 10,685 Total assets $ 5,086,044 $ 5,086,083 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 57,537 $ 56,671 Accrued expenses 255,260 240,460 Operating lease liabilities 11,040 11,967 Income taxes payable 4,174 3,845 Senior convertible notes 437,142 — Business acquisition liabilities 32,110 61,035 Deferred revenue 20,802 18,369 Total current liabilities 818,065 392,347 Business acquisition liabilities, net of current portion 81,748 78,323 Operating lease liabilities 86,376 91,037 Senior convertible notes — 417,400 Deferred income taxes and other tax liabilities 7,475 84,421 Other liabilities 22,983 24,596 Total liabilities 1,016,647 1,088,124 Commitments and contingencies (Note 17) Equity: Class A common stock; $ 0.001 par value. Authorized 500,000,000 shares; issued and outstanding 113,474,233 and 113,905,565 shares at September 30, 2024 and Decemb

View Full Filing

View this 10-Q filing on SEC EDGAR