10-K · February 17, 2026
CONMED delivered year-over-year revenue growth with consolidated net sales of $1,374,724,000 in 2025 versus $1,307,015,000 in 2024, driven by its two reporting franchises (general surgery 58% and orthopedic surgery 42%…
Earnings analysis · 10-Q
CNMD earnings analysis
Filed April 30, 2026 · Our reading of the company's report
The latest report
CONMED Corporation reported Q1 2026 results with revenue of $317.0 million, slightly below $321.3 million in Q1 2025, and a diluted EPS of $0.89, a notable increase from $0.19 in Q1 2025. The company indicated a raised…
Read full summary
CONMED Corporation reported Q1 2026 results with revenue of $317.0 million, slightly below $321.3 million in Q1 2025, and a diluted EPS of $0.89, a notable increase from $0.19 in Q1 2025. The company indicated a raised full-year growth guidance owing to operational improvements despite a decline in specific segments, particularly gastroenterology products.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.89
- Segment
- Orthopedic surgery
- Segment
- General surgery
What stood out
-
Revenue Decrease of 1.3% YoY
Net sales decreased to $317.0 million from $321.3 million in Q1 2025, reflecting an overall decline.
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Gross Margin Improvement
Gross profit margin increased to 57.9%, up by 260 basis points from 55.3% in the prior year.
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EPS Increase
Diluted EPS surged to $0.89 in Q1 2026 from $0.19 in Q1 2025, a significant improvement.
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Higher International Sales Share
International sales contributed approximately 45% of Q1 2026 revenue, up from 43% in the previous year.
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Effective Cost Management
Selling and administrative expenses decreased to $141.7 million from $148.8 million, improving operational efficiency.
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Debt Trends Favorable
Interest expense decreased from $8.3 million in Q1 2025 to $7.1 million in Q1 2026 due to lower borrowing costs.
What to watch
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Declining General Surgery Sales
Sales in the general surgery segment dropped by 7.4% primarily due to exiting gastroenterology product lines.
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Impact of Inflation and Supply Chain
Continued supply chain challenges and inflationary pressures may adversely affect operations and margins.
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Evolving Regulatory Landscape
Compliance costs related to new EU medical device regulations have increased R&D expenses to $16.3 million, from $12.9 million YoY.
Management's outlook
Raised full-year revenue growth guidance to 5.0%-6.5%, from prior 4.5%-6.0%.
Earlier filings 4
10-Q · May 1, 2025
CONMED reported Q1 net sales of $321,256,000, up 2.9% year-over-year, but operating margin compressed to 5.0% and diluted EPS fell to $0.19. Operating cash flow remained healthy at $41,534,000 (capex $3,779,000),…
10-Q · April 27, 2023
CONMED reported Q1 net sales of $295,468,000, up $53,141,000 (21.9%) versus Q1 2022, driven by growth in both Orthopedic and General Surgery. Profitability weakened materially: gross margin fell to ~52.6% and operating…
10-Q · July 28, 2022
CONMED reported Q2 revenue of $277,190,000, up $22,029,000 (+8.6%) versus Q2 2021, while gross profit rose to $151,777,000 but gross margin ticked down to ~54.8% from ~55.4%. Operating income decreased to $24,458,000…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.