Enovis CORP

Listed Company

ENOVCIK 0001420800NYSELarge AcceleratedOrthopedic, Prosthetic & Surgical Appliances & SuppliesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.25B

Net Income

$-1.18B

Total Assets

$3.83B

Equity

$1.49B

Shares Out

57.25M

Op. Cash Flow

$217.29M

Business

Enovis Corporation is a medical technology company that develops, manufactures and distributes medical devices designed to improve patient outcomes and transform clinical workflows. It offers a broad range of products for reconstructive surgery, rehabilitation, pain management and physical therapy, including orthopedic bracing, hot and cold therapy, bone growth stimulators, vascular therapy systems, therapeutic shoes and surgical joint implants and tools. The company operates through two reportable segments, Prevention & Recovery and Reconstructive. It sells to orthopedic specialists, surgeons, physical therapists and retail consumers across multiple channels, including independent distributors and direct sales, with significant operations in the U.S. and Europe.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	2,248	2,108	1,707	1,563	1,426
Cost of sales	903	927	716	694	649
Gross profit	1,345	1,181	991	869	778
Selling, general and administrative expense	1,070	1,027	830	773	666
Research and development expense	120	91	75	61	49
Amortization of acquired intangibles	174	166	134	126	117
Purchase of royalty interest	46	0	0	—	—
Restructuring and other charges	10	27	17	17	9
Goodwill impairment	1,050	645	0	0	—
Operating loss	−1,124	−776	−66	−71	−63
Interest expense, net	35	57	20	24	29
Debt extinguishment charges	0	0	7	20	30
Other (income) expense, net	367,000	−10	−26	−2	0
Loss from continuing operations before income taxes	−1,159	−823	−67	−2	−122
Income tax expense (benefit)	22	4	−13	36	−20
Net loss from continuing operations	−1,182	−827	−54	−38	−102
Income (loss) from discontinued operations, net of taxes	−2	3	21	26	179
Net loss	−1,184	−825	−33	−12	76
Less: net income attributable to noncontrolling interest from continuing operations - net of taxes	820,000	679,000	530,000	567,000	1
Net loss attributable to Enovis Corporation	−1,184	−825	−33	−13	72
Continuing operations - basic (in usd per share)	−20.72	−14.98	−1	−0.72	−2.02
Discontinued operations - basic	−0.03	0.05	0.39	0.47	3.42
Consolidated operations - basic	−20.75	−14.93	−0.61	−0.25	1.4
Continuing operations - diluted (in usd per share)	−20.72	−14.98	−1	−0.72	−2.02
Discontinued operations - diluted	−0.03	0.05	0.39	0.47	3.42
Consolidated operations - diluted	−20.75	−14.93	−0.61	−0.25	1.4

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	36	48	36	24	680
Trade receivables, less allowance for credit losses of $25,609 and $24,466	443	407	291	267	255
Inventories, net	584	547	469	427	356
Prepaid expenses	42	36	29	29	26
Other current assets	101	108	71	48	29
Total current assets	1,207	1,146	897	795	2,303
Property, plant and equipment, net	507	405	271	237	235
Goodwill	718	1,693	2,061	1,984	1,934
Intangible assets, net	1,237	1,317	1,127	1,111	1,154
Lease asset - right of use	72	69	64	67	76
Other assets	93	89	90	80	75
Total assets	3,835	4,719	4,509	4,273	8,516
Current portion of long-term debt	35	20	0	219	8
Accounts payable	188	179	132	136	155
Accrued liabilities	376	330	237	210	225
Total current liabilities	598	529	370	565	1,024
Long-term debt, less current portion	1,262	1,309	466	40	2,079
Non-current lease liability	58	52	49	51	57
Other liabilities	425	264	204	167	122
Total liabilities	2,343	2,154	1,089	823	3,854
Common stock, $0.001 par value; 133,333,333 shares authorized; 57,194,781 and 55,876,517 issued and outstanding as of December 31, 2025 and December 31, 2024, respectively	57,000	56,000	55,000	54,000	52,000
Additional paid-in capital	3,048	2,973	2,901	2,926	4,544
Accumulated deficit	−1,467	−283	542	576	589
Accumulated other comprehensive loss	−91	−128	−25	−53	−516
Total Enovis Corporation equity	1,490	2,562	3,418	3,448	4,617
Noncontrolling interest	2	2	2	2	44
Total equity	1,492	2,564	3,421	3,450	4,661
Total liabilities and equity	3,835	4,719	4,509	4,273	8,516

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Goodwill and asset impairment	1,050	650	0	0	—
Depreciation and amortization	294	285	217	220	263
Stock-based compensation expense	33	30	34	39	35
Non-cash interest expense	7	5	3	4	5
Fair value gain on contingency shares	2	−20	0	0	—
Unrealized loss (gain) on currency hedges	0	11	−24	0	0
Deferred income tax expense (benefit)	−2	−10	−27	6	−22
(Gain) loss on sale of property, plant and equipment	1	1	−15	352,000	−3
Trade receivables, net	−11	−57	−16	−45	−111
Inventories, net	−12	39	−25	−119	−130
Accounts payable	−1	14	−7	−12	178
Other operating assets and liabilities	39	−10	20	−46	45
Net cash provided by operating activities	217	114	135	−56	356
Purchases of property, plant and equipment and intangibles	−197	−181	−122	−105	−104
Proceeds from sale of property, plant and equipment	0	0	33	3	7
Payments for acquisitions, net of cash received, and investments	−27	−770	−153	−74	−223
Proceeds from sale of business, net	43	0	0	—	—
Cash received (paid) for settlement of derivative	2	−5	0	—	—
Net cash used in investing activities	−179	−955	−242	−176	−320
Proceeds from borrowings on term credit facility	335	400	0	450	0
Repayments of borrowings under term credit facility	−24	−20	−219	−785	0
Proceeds from borrowings on revolving credit facilities and other	209	992	455	65	991
Repayments of borrowings on revolving credit facilities and other	−557	−513	−478	−635	−418
Proceeds from borrowings on senior unsecured convertible notes	0	0	460	0	0
Payment of debt issuance costs	−7	−703,000	−26	−3	0
Proceeds from issuance of common stock, net	1	2	2	6	745
Payment of capped call transactions	0	0	−62	0	0
Payments of tax withholding for stock-based awards	−4	−5	0	0	—
Deferred consideration payments and other	−7	−9	−4	−8	−10
Net cash provided by (used in) financing activities	−52	847	128	−465	585
Effect of foreign exchange rates on Cash and cash equivalents	3	−2	219,000	2	−2
Increase (decrease) in Cash and cash equivalents and restricted cash	−12	3	21	−695	618
Interest payments	27	52	16	37	85
Income tax payments, net	18	11	13	31	47
Common stock issued for acquisition, net of issuance costs	44	46	0	0	286

Filings

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