Envista Holdings Corp. Files 2024 10-K

TL;DR

Envista Holdings Corp. filed its 2024 10-K, detailing its financial status for the year ending Dec 31, 2024.

AI Summary

Envista Holdings Corp. filed its 2024 10-K on February 13, 2025, reporting on its fiscal year ending December 31, 2024. The company, formerly DH Dental Holding Corp., is incorporated in Delaware and operates in the Dental Equipment & Supplies industry. Its principal business address is in Brea, California.

Why It Matters

This filing provides a comprehensive overview of Envista Holdings Corp.'s financial performance and business operations for the fiscal year 2024, crucial for investors assessing the company's health and future prospects.

Risk Assessment

Risk Level: low — The filing is a standard annual report and does not inherently indicate elevated risk.

Key Numbers

• 2024 — Fiscal Year (The period covered by the 10-K filing.)
• 1231 — Fiscal Year End (The specific date the fiscal year concluded.)
• 20250213 — Filing Date (The date the 10-K was officially submitted to the SEC.)

Key Players & Entities

• Envista Holdings Corp. (company) — Filer of the 10-K
• DH Dental Holding Corp. (company) — Former name of Envista Holdings Corp.
• 200 S. KRAEMER BLVD., BLDG. E, BREA, CA 92821 (location) — Business and mailing address
• 20241231 (date) — Fiscal year end date
• 20250213 (date) — Filing date

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common stock, $0.01 par value NVST New York Stock Exchange
• $16.63 — illion (based upon the closing price of $16.63 of the Registrant's common stock as rep
• $2.5 b — s. In 2024, we generated total sales of $2.5 billion, of which approximately 85% were
• $1.6 billion — oducts & Technologies segment generated $1.6 billion of sales, representing year-over-year s
• $0.9 billion — uipment & Consumables segment generated $0.9 billion of sales. In 2024, 69% of segment sales
• $30 million — iness from one that generated less than $30 million in sales in 2011 to one that generated
• $539 million — 011 to one that generated approximately $539 million in sales in 2024. We expect to continue

Filing Documents

• nvst-20241231.htm (10-K) — 2522KB
• nvst-exhibit411x15x25.htm (EX-4.1) — 27KB
• formofstockoptionagreement.htm (EX-10.5) — 261KB
• envista-february2025grantx.htm (EX-10.6) — 344KB
• formofperformance-conditio.htm (EX-10.7) — 361KB
• formofagreementregardingfa.htm (EX-10.9) — 110KB
• formofpsuagreement.htm (EX-10.11) — 124KB
• robert_befidixdhxdentalxpr.htm (EX-10.23) — 39KB
• nilsson_stefanxmanagementx.htm (EX-10.24) — 52KB
• firstamendmenttotheenvista.htm (EX-10.26) — 10KB
• nvstinsidertradingpolicyre.htm (EX-19.1) — 65KB
• nvst-ex2112024significants.htm (EX-21.1) — 11KB
• exhibit23112312024.htm (EX-23.1) — 5KB
• exhibit311123124.htm (EX-31.1) — 11KB
• exhibit312123124.htm (EX-31.2) — 11KB
• exhibit321123124.htm (EX-32.1) — 7KB
• image_0.jpg (GRAPHIC) — 5KB
• image_0b.jpg (GRAPHIC) — 5KB
• image_7.jpg (GRAPHIC) — 16KB
• nvst-20241231_g1.jpg (GRAPHIC) — 16KB
• nvst-20241231_g2.gif (GRAPHIC) — 9KB
• 0001757073-25-000007.txt ( ) — 16776KB
• nvst-20241231.xsd (EX-101.SCH) — 83KB
• nvst-20241231_cal.xml (EX-101.CAL) — 151KB
• nvst-20241231_def.xml (EX-101.DEF) — 441KB
• nvst-20241231_lab.xml (EX-101.LAB) — 1107KB
• nvst-20241231_pre.xml (EX-101.PRE) — 828KB
• nvst-20241231_htm.xml (XML) — 2617KB

Risk Factors

Item 1A. Risk Factors 17

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 45

Cybersecurity

Item 1C. Cybersecurity 45

Properties

Item 2. Properties 46

Legal Proceedings

Item 3. Legal Proceedings 46

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 46 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 47

Reserved

Item 6. Reserved 48

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

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 49

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 64

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 65

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 118

Controls and Procedures

Item 9A. Controls and Procedures 118

Other Information

Item 9B. Other Information 118

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 118 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 119

Executive Compensation

Item 11. Executive Compensation 119

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 119

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 119

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 119 PART IV

Exhibit and Financial Statement Schedules

Item 15. Exhibit and Financial Statement Schedules 120

Form 10-K Summary

Item 16. Form 10-K Summary 120 INFORMATION RELATING TO FORWARD-LOOKING STATEMENTS Certain statements included or incorporated by reference in this Annual Report are "forward-looking statements" within the meaning of the U.S. federal securities laws. All statements other than historical factual information are forward-looking statements, including without limitation statements regarding: projections of revenue, expenses, profit, profit margins, tax rates, tax provisions, cash flows, pension and benefit obligations and funding requirements, our liquidity position or other projected financial measures; management's plans and strategies for future operations, including statements relating to anticipated operating performance, cost reductions, restructuring activities, new product and service developments, competitive strengths or market position, acquisitions and the integration thereof, divestitures, spin-offs, split-offs or other distributions, strategic opportunities, securities offerings, stock repurchases, dividends and executive compensation; growth, declines and other trends in markets we sell into; future regulatory approvals and the timing thereof; outstanding claims, legal proceedings, tax audits and assessments and other contingent liabilities; future foreign currency exchange rates and fluctuations in those rates; the anticipated timing of any of the foregoing; assumptions underlying any of the foregoing; and any other statements that address events or developments that Envista intends or believes will or may occur in the future. Terminology such as "believe," "anticipate," "should," "could," "intend," "will," "plan," "expect," "estimate," "project," "target," "may," "possible," "potential," "forecast" and "positioned" and similar references to future periods are intended to identify forward-looking statements, although not all forward-looking statements are accompanied by such words. Forward-looking statements are based on assumptions and assessments ma

BUSINESS

ITEM 1. BUSINESS Overview Envista is a global family of more than 30 trusted dental brands, including Nobel Biocare, Ormco, DEXIS, and Kerr, united by a shared purpose: to partner with professionals to improve lives by digitizing, personalizing and democratizing oral care. We help our customers deliver the best possible patient care through industry-leading dental consumables, solutions, technologies, and services. Our diversified portfolio of solutions covers a broad range of dentists' clinical needs for preventing, diagnosing, and treating dental conditions as well as improving the aesthetics of the human smile. We offer comprehensive solutions to support implant-based tooth replacements, orthodontic treatments, and diagnostic solutions. We further support the dental community with leading solutions in restoratives, endodontics, rotary, infection prevention, and loupes. We were formed in 2018 as a wholly-owned subsidiary of Danaher Corporation ("Danaher"). In 2019, we completed our initial public offering and separated from Danaher. With a foundation comprised of the proven Envista Business System ("EBS") methodology, an experienced leadership team, and a strong culture grounded in continuous improvement, commitment to innovation, and deep customer focus, we are well equipped to meet the end-to-end needs of dental professionals worldwide. We are one of the largest global dental products companies, with strong positions in some of the most attractive segments of the dental products industry. We serve dental professionals in over 130 countries through one of the largest commercial organizations in the dental products industry and through our distribution partners. In 2024, we generated total sales of $2.5 billion, of which approximately 85% were derived from sales of consumable products, services, and spare parts. Our business is operated through two segments: Specialty Products & Technologies, which is comprised of our Implant-Based Tooth Replacement and Ort

View Full Filing

View this 10-K filing on SEC EDGAR