GMED FY 2021 Earnings Report — Globus Medical, Inc. Revenue & Financial Results | Market Cap Arena

Globus Medical, Inc.GMED

FY 2021 Earnings

Reported February 17, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$958M	—	$789M	—	21.4%
Op. Income	$172M	—	$111M	—	54.3%
Gross Margin	75.0%	—	72.4%	—	2.6pp
Net Margin	15.6%	—	13.0%	—	2.6pp
EPS (Diluted)	$1.44	—	$1.01	—	42.6%
Free Cash Flow	$219M	—	$135M	—	62.3%

Revenue Flow

Item	Amount
REVENUE	$958M
Cost of Revenue	$239M
GROSS PROFIT	$719M
R&D Expenses	$97M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$408M
Other Expenses	$41M
Operating Expenses	$547M
Cost & Expenses	$786M
OPERATING INCOME	$172M
Interest Income	$9M
Interest Expense	$0
Other Income/Expenses	$8M
INCOME BEFORE TAX	$180M
Income Tax Expense	$31M
Net Income from Continuing Ops	$149M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$149M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$149M
D&A	$70M
EBIT	$195M
EBITDA	$265M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$958M
Cost of Revenue	$239M
GROSS PROFIT	$719M
R&D Expenses	$97M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$408M
Other Expenses	$41M
Operating Expenses	$547M
Cost & Expenses	$786M
OPERATING INCOME	$172M
Interest Income	$9M
Interest Expense	$0
Other Income/Expenses	$8M
INCOME BEFORE TAX	$180M
Income Tax Expense	$31M
Net Income from Continuing Ops	$149M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$149M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$149M
D&A	$70M
EBIT	$195M
EBITDA	$265M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$149M
Depreciation & Amortization	$70M
Stock-Based Compensation	$31M
Deferred Income Tax	-$18M
Other Non-Cash Items	$61M
Change in Working Capital	-$17M
OPERATING CASH FLOW	$276M
Capital Expenditure	-$57M
Acquisitions (Net)	-$34M
Purchases of Investments	-$622M
Sales/Maturities of Investments	$338M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$376M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$54M
NET CASH FROM FINANCING	$54M
FREE CASH FLOW	$219M
Net Change in Cash	-$46M

Balance Sheet

Item	Amount
Cash & Equivalents	$193M
Short-Term Investments	$250M
Net Receivables	$166M
Inventory	$237M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$865M
PP&E (Net)	$221M
Goodwill	$180M
Intangible Assets	$69M
Long-Term Investments	$562M
Tax Assets	$24M
Other Non-Current Assets	$36M
TOTAL NON-CURRENT ASSETS	$1.1B
TOTAL ASSETS	$2.0B
Account Payables	$22M
Short-Term Debt	$0
Deferred Revenue	$12M
Other Current Liabilities	$64M
TOTAL CURRENT LIABILITIES	$140M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$4M
Other Non-Current Liabilities	$71M
TOTAL NON-CURRENT LIABILITIES	$76M
TOTAL LIABILITIES	$216M
Common Stock	$101.0K
Additional Paid-In Capital	$554M
Retained Earnings	$1.2B
Treasury Stock	$0
Accum. Other Comp. Income	-$7M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$0
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$2.0B
Total Debt	$0
Net Debt	-$193M