- Cardiovascular segment sales grew 10%, and Endoscopy segment sales grew 81%.
- Cash and cash equivalents were $341.8 million as of June 30, 2025, with total debt obligations of $747.5 million and net leverage ratio of 1.7x on an adjusted basis.
- Free cash flow was $70 million, a 20% increase year-over-year.
- Gross profit increased approximately 17% with a gross margin of 53.2%, up 167 basis points.
- Net income was $61 million or $1.01 per share, compared to $53.8 million or $0.92 per share last year.
- Non-GAAP EPS grew 10%, surpassing the high end of expectations.
- Non-GAAP operating margin increased by nearly 109 basis points year-over-year to 21.2%, the highest in the company's public history.
- Operating expenses increased 15%, driven by 13% SG&A and 24% R&D increases.
- Operating income rose 19% to $80.9 million with an operating margin of 21.2%.
- Organic constant currency growth excluding acquisitions was 6.8% for Cardiovascular and 1% for Endoscopy.
- Other expense net was $2.3 million compared to income of $1.4 million last year, due to lower interest income and partially offset by lower interest expense.
- Total revenue for Q2 2025 was $382.5 million, up 13% year-over-year on a GAAP basis and 12.5% on a constant currency basis, exceeding the high end of growth expectations.
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Dafinchi