GLOBUS MEDICAL INC
For the period ended Dec 31, 2023. Filed Feb 21, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 21, 2024
GMED$75.23-1.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations and Comprehensive Income
| Year Ended | |||
|---|---|---|---|
| December 31, | |||
| (In thousands, except per share amounts) | 2023 | 2022 | 2021 |
| Net sales | $1,568,476 | $1,022,843 | $958,102 |
| Cost of sales | 548,174 | 263,725 | 239,223 |
| Gross profit | 1,020,302 | 759,118 | 718,879 |
| Operating expenses: | |||
| Research and development | 124,010 | 73,015 | 97,346 |
| Selling, general and administrative | 643,410 | 432,117 | 408,149 |
| Provision for litigation, net | 434 | 2,341 | 5,921 |
| Amortization of intangibles | 51,032 | 17,735 | 18,526 |
| Acquisition-related costs | 68,274 | 5,959 | 16,984 |
| Total operating expenses | 887,160 | 531,167 | 546,926 |
| Operating income/(loss) | 133,142 | 227,951 | 171,953 |
| Other income/(expense), net | |||
| Interest income/(expense), net | 20,130 | 14,233 | 9,297 |
| Foreign currency transaction gain/(loss) | 14,259 | (1,020) | (1,423) |
| Other income/(expense) | (2,138) | 1,855 | 580 |
| Total other income/(expense), net | 32,251 | 15,068 | 8,454 |
| Income/(loss) before income taxes | 165,393 | 243,019 | 180,407 |
| Income tax provision | 42,520 | 52,850 | 31,216 |
| Net income/(loss) | $122,873 | $190,169 | $149,191 |
| Other comprehensive income/(loss), net of tax: | |||
| Unrealized gain/(loss) on marketable securities | 13,231 | (14,040) | (6,054) |
| Foreign currency translation gain/(loss) | 1,207 | (3,818) | (4,673) |
| Total other comprehensive income/(loss), net of tax | 14,438 | (17,858) | (10,727) |
| Comprehensive income/(loss) | $137,311 | $172,311 | $138,464 |
| Earnings per share: | |||
| Basic | $1.09 | $1.89 | $1.48 |
| Diluted | $1.07 | $1.85 | $1.44 |
| Weighted average shares outstanding: | |||
| Basic | 113,087 | 100,469 | 100,734 |
| Diluted | 114,630 | 102,643 | 103,623 |
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