Globus Medical and NuVasive's merger marked its first year on Sept. 1, Globus' CEO Dan Scavilla said in a Nov. 5 earnings call.
Globus Medical saw $626 million in sales during the third quarter, a 63% increase year over year. The company also saw a record cash flow of $162 million in the quarter, which is equivalent to Globus Medical's 2023 full year free cash flow, Mr. Scavilla said.
"Based on our results so far, I would like to compliment the entire Globus team for their speed and effort in completing the most successful spine merger in history … There's still a great deal of work ahead of us, but I look forward to building from this base and accelerating growth as we move into the future," Mr. Scavilla said, as transcribed by Motley Fool. "In addition to our great financial performance, Globus launched four new products in Q3 across our businesses, reaching 13 product launches year to date and more to come this year."
Other highlights of the quarter include a 34% increase in robotic procedures year over year, Mr. Scavilla said. The company also expects an XR augmented reality headset for ExcelsiusHub to earn FDA clearance before the end of the year.