CNMD

MKT CAP:$1B

CONMED Corporation

Market Cap

$1B

Healthcare·Medical - Devices·🇺🇸 United States·NYSE

Healthcare·Medical - Devices·🇺🇸·NYSE

Stock Price

$37.50-$3.02 (-7.45%)

Apr 23, 2026

Company Details

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. It offers orthopedic surgery products, including TruShot with Y-Knot All-In-One So...

CEO

Patrick J. Beyer

IPO Date

Jul 23, 1987

Website

www.conmed.com

Key Metrics TTM

Revenue

$1.4B

+5.2% YoY

Net Income

$47M

EPS (Diluted)

$1.51

Free Cash Flow

$151M

Revenue / Share

$44.30

Gross Margin

54.6%

Operating Margin

7.5%

Net Margin

3.4%

FCF Margin

11.0%

P/S

0.9x

P/E

25.1x

Earnings Reports

Q1 2026

Apr 29, 2026

PENDING

FY 2025

Feb 17, 2026

$1.4B+5.2%EPS $1.51

Q4 2025

Feb 17, 2026

$373M+7.9%EPS $0.54

Q3 2025

Nov 6, 2025

$338M+6.7%EPS $0.09

Q2 2025

Jul 31, 2025

$342M+3.1%EPS $0.69

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$242M	$136M	$22M
Q2 22	$277M	$152M	$24M
Q3 22	$275M	$152M	$24M
Q4 22	$251M	$132M	-$1M
Q1 23	$295M	$155M	$13M
Q2 23	$318M	$171M	$27M
Q3 23	$305M	$168M	$30M
Q4 23	$327M	$182M	$50M
Q1 24	$312M	$172M	$35M
Q2 24	$332M	$184M	$47M
Q3 24	$317M	$179M	$66M
Q4 24	$346M	$198M	$52M
Q1 25	$321M	$178M	$16M
Q2 25	$342M	$188M	$38M
Q3 25	$338M	$166M	$12M
Q4 25	$373M	$218M	$37M

Valuation

Quarter	P/S	P/E
Q1 22	1.2x	17.4x
Q2 22	1.1x	—
Q3 22	1.1x	—
Q4 22	1.1x	—
Q1 23	1.1x	—
Q2 23	1.0x	13.4x
Q3 23	1.0x	20.4x
Q4 23	0.9x	18.3x
Q1 24	0.9x	14.3x
Q2 24	0.9x	12.0x
Q3 24	0.9x	9.0x
Q4 24	0.9x	8.9x
Q1 25	0.9x	9.9x
Q2 25	0.9x	10.7x
Q3 25	0.9x	18.4x
Q4 25	0.9x	25.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$328.0K	-$3M
Q2 22	$19M	$13M
Q3 22	$26M	$19M
Q4 22	-$12M	-$17M
Q1 23	-$4M	-$8M
Q2 23	$27M	$22M
Q3 23	$46M	$41M
Q4 23	$56M	$52M
Q1 24	$29M	$27M
Q2 24	$43M	$40M
Q3 24	$51M	$48M
Q4 24	$43M	$39M
Q1 25	$42M	$38M
Q2 25	$29M	$23M
Q3 25	$54M	$48M
Q4 25	$46M	$41M

Capital Expenditures

Quarter	CapEx
Q1 22	$4M
Q2 22	$6M
Q3 22	$7M
Q4 22	$6M
Q1 23	$4M
Q2 23	$5M
Q3 23	$5M
Q4 23	$5M
Q1 24	$2M
Q2 24	$4M
Q3 24	$3M
Q4 24	$4M
Q1 25	$4M
Q2 25	$6M
Q3 25	$5M
Q4 25	$5M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+4.1%	+3.4%
Q2 22	+8.6%	+10.1%
Q3 22	+10.6%	+12.9%
Q4 22	-8.4%	+6.4%
Q1 23	+21.9%	+28.6%
Q2 23	+14.6%	+14.8%
Q3 23	+10.7%	+9.3%
Q4 23	+30.4%	+9.9%
Q1 24	+5.7%	-1.9%
Q2 24	+4.5%	-1.8%
Q3 24	+4.0%	-8.5%
Q4 24	+5.8%	+6.0%
Q1 25	+2.9%	+10.1%
Q2 25	+3.1%	+6.7%
Q3 25	+6.7%	+29.9%
Q4 25	+7.9%	+14.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$4M	1.8%
Q2 22	$6M	2.1%
Q3 22	$6M	2.1%
Q4 22	$6M	2.3%
Q1 23	$6M	1.9%
Q2 23	$6M	2.0%
Q3 23	$6M	2.0%
Q4 23	$6M	1.8%
Q1 24	$6M	2.0%
Q2 24	$7M	2.1%
Q3 24	$6M	1.9%
Q4 24	$6M	1.8%
Q1 25	$14M	4.3%
Q2 25	$5M	1.4%
Q3 25	$5M	1.4%
Q4 25	$5M	1.3%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 22	$11M	$103M
Q2 22	$11M	$116M
Q3 22	$13M	$115M
Q4 22	$12M	$121M
Q1 23	$13M	$130M
Q2 23	$14M	$130M
Q3 23	$12M	$125M
Q4 23	$14M	$118M
Q1 24	$14M	$123M
Q2 24	$14M	$123M
Q3 24	$14M	$100M
Q4 24	$13M	$133M
Q1 25	$13M	$149M
Q2 25	$14M	$136M
Q3 25	$14M	$140M
Q4 25	$15M	$167M

Revenue Segments

Quarter	General Surgery	Orthopedic Surgery
Q1 22	$135M	$108M
Q2 22	$157M	$120M
Q3 22	$156M	$119M
Q4 22	$136M	$115M
Q1 23	$164M	$131M
Q2 23	$177M	$141M
Q3 23	$180M	$125M
Q4 23	$191M	$137M
Q1 24	$177M	$135M
Q2 24	$193M	$140M
Q3 24	$186M	$131M
Q4 24	$207M	$139M
Q1 25	$183M	$138M
Q2 25	$202M	$141M
Q3 25	$200M	$138M
Q4 25	$216M	$157M

Revenue by Geography

Quarter	Americas (excluding the United States)	Asia Pacific	Emea	United States
Q1 22	$24M	$36M	$50M	$131M
Q2 22	$30M	$44M	$55M	$149M
Q3 22	$27M	$45M	$47M	$156M
Q4 22	$25M	$37M	$46M	$143M
Q1 23	$29M	$46M	$56M	$165M
Q2 23	$32M	$53M	$58M	$175M
Q3 23	$29M	$53M	$51M	$171M
Q4 23	$31M	$45M	$61M	$190M
Q1 24	$31M	$44M	$61M	$176M
Q2 24	$32M	$51M	$64M	$185M
Q3 24	$29M	$49M	$56M	$183M
Q4 24	$30M	$50M	$63M	$203M
Q1 25	$30M	$44M	$64M	$184M
Q2 25	$32M	$52M	$68M	$191M
Q3 25	$31M	$54M	$59M	$194M
Q4 25	$33M	$59M	$75M	$206M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$25M	$0	$25M
Q2 22	$53M	$0	$53M
Q3 22	$33M	$0	$33M
Q4 22	$29M	$0	$29M
Q1 23	$26M	$0	$26M
Q2 23	$28M	$0	$28M
Q3 23	$31M	$0	$31M
Q4 23	$24M	$0	$24M
Q1 24	$34M	$0	$34M
Q2 24	$29M	$0	$29M
Q3 24	$38M	$0	$38M
Q4 24	$24M	$0	$24M
Q1 25	$35M	$0	$35M
Q2 25	$34M	$0	$34M
Q3 25	$39M	$0	$39M
Q4 25	$41M	$0	$41M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	35M	+7.3%	+12.0%
Q2 22	30M	-15.3%	-8.3%
Q3 22	31M	+4.5%	-3.2%
Q4 22	31M	-0.6%	-5.6%
Q1 23	31M	+0.9%	-11.2%
Q2 23	32M	+1.9%	+6.8%
Q3 23	32M	-0.3%	+1.9%
Q4 23	32M	-0.6%	+1.8%
Q1 24	31M	-0.7%	+0.2%
Q2 24	31M	-0.5%	-2.2%
Q3 24	31M	+0.0%	-1.8%
Q4 24	31M	0.0%	-1.2%
Q1 25	31M	+0.1%	-0.4%
Q2 25	31M	-0.3%	-0.2%
Q3 25	31M	-0.0%	-0.2%
Q4 25	31M	-0.1%	-0.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$63.8K	4K
Q2 22	$72.9K	4K
Q3 22	$72.4K	4K
Q4 22	$61.2K	4K
Q1 23	$72.1K	4K
Q2 23	$77.5K	4K
Q3 23	$74.3K	4K
Q4 23	$81.8K	4K
Q1 24	$78.1K	4K
Q2 24	$83.0K	4K
Q3 24	$79.2K	4K
Q4 24	$88.7K	4K
Q1 25	$82.4K	4K
Q2 25	$87.8K	4K
Q3 25	$86.6K	4K
Q4 25	$95.7K	4K

Revenue / Employee