GMED FY 2022 Earnings Report — Globus Medical, Inc. Revenue & Financial Results | Market Cap Arena

Globus Medical, Inc.GMED

FY 2022 Earnings

Reported February 21, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$1.0B	—	$958M	—	6.8%
Op. Income	$228M	—	$172M	—	32.6%
Gross Margin	74.2%	—	75.0%	—	-0.8pp
Net Margin	18.6%	—	15.6%	—	3.0pp
EPS (Diluted)	$1.85	—	$1.44	—	28.5%
Free Cash Flow	$104M	—	$219M	—	-52.4%

Revenue Flow

Item	Amount
REVENUE	$1.0B
Cost of Revenue	$264M
GROSS PROFIT	$759M
R&D Expenses	$73M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$432M
Other Expenses	$26M
Operating Expenses	$531M
Cost & Expenses	$795M
OPERATING INCOME	$228M
Interest Income	$14M
Interest Expense	$0
Other Income/Expenses	$15M
INCOME BEFORE TAX	$243M
Income Tax Expense	$53M
Net Income from Continuing Ops	$190M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$190M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$190M
D&A	$68M
EBIT	$236M
EBITDA	$305M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.0B
Cost of Revenue	$264M
GROSS PROFIT	$759M
R&D Expenses	$73M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$432M
Other Expenses	$26M
Operating Expenses	$531M
Cost & Expenses	$795M
OPERATING INCOME	$228M
Interest Income	$14M
Interest Expense	$0
Other Income/Expenses	$15M
INCOME BEFORE TAX	$243M
Income Tax Expense	$53M
Net Income from Continuing Ops	$190M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$190M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$190M
D&A	$68M
EBIT	$236M
EBITDA	$305M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$190M
Depreciation & Amortization	$68M
Stock-Based Compensation	$33M
Deferred Income Tax	-$22M
Other Non-Cash Items	$15M
Change in Working Capital	-$105M
OPERATING CASH FLOW	$178M
Capital Expenditure	-$74M
Acquisitions (Net)	-$31M
Purchases of Investments	-$420M
Sales/Maturities of Investments	$415M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$110M
Net Debt Issuance	$0
Common Stock Repurchased	-$144M
Common Dividends Paid	$0
Other Financing Activities	$35M
NET CASH FROM FINANCING	-$110M
FREE CASH FLOW	$104M
Net Change in Cash	-$43M

Balance Sheet

Item	Amount
Cash & Equivalents	$150M
Short-Term Investments	$296M
Net Receivables	$217M
Inventory	$299M
Other Current Assets	$21M
TOTAL CURRENT ASSETS	$983M
PP&E (Net)	$244M
Goodwill	$197M
Intangible Assets	$64M
Long-Term Investments	$496M
Tax Assets	$49M
Other Non-Current Assets	$43M
TOTAL NON-CURRENT ASSETS	$1.1B
TOTAL ASSETS	$2.1B
Account Payables	$36M
Short-Term Debt	$0
Deferred Revenue	$14M
Other Current Liabilities	$67M
TOTAL CURRENT LIABILITIES	$159M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$2M
Other Non-Current Liabilities	$65M
TOTAL NON-CURRENT LIABILITIES	$71M
TOTAL LIABILITIES	$230M
Common Stock	$100.0K
Additional Paid-In Capital	$631M
Retained Earnings	$1.2B
Treasury Stock	$0
Accum. Other Comp. Income	-$25M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.8B
Minority Interest	$0
TOTAL EQUITY	$1.8B
TOTAL LIABILITIES & EQUITY	$2.1B
Total Debt	$6M
Net Debt	-$144M