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GLOBUS MEDICAL INC

For the period ended Dec 31, 2023. Filed Feb 21, 2024.

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About this filing

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$76.37+7.5%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Table of Contents

AND SUBSIDIARIES

TABLE OF CONTENTS

Page
PART I
Item 1.Business5
Item 1A.Risk Factors20
Item 1B.Unresolved Staff Comments46
Item 2.Properties46
Item 3.Legal Proceedings46
Item 4.Mine Safety Disclosures46
PART II
Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities47
Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations49
Item 7A.Quantitative and Qualitative Disclosure About Market Risk59
Item 8.Financial Statements and Supplementary Data61
Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure97
Item 9A.Controls and Procedures97
Item 9B.Other Information97
Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent inspections99
PART III
Item 10.Directors, Executive Officers and Corporate Governance99
Item 11.Executive Compensation99
Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters99
Item 13.Certain Relationships and Related Transactions, and Director Independence99
Item 14.Principal Accountant Fees and Services99
PART IV
Item 15Exhibits and Financial Statement Schedules100
SIGNATURES106

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Part I

CAUTIONARY NOTE CONCERNING FORWARD-LOOKING STATEMENTS

This Annual Report on Form 10-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements other than statements of historical fact are forward-looking statements. We have tried to identify forward-looking statements by using words such as “believe,” “may,” “might,” “could,” “will,” “aim,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “plan” and similar words. These forward-looking statements are based on our current assumptions, expectations and estimates of future events and trends. Forward-looking statements are only predictions and are subject to many risks, uncertainties and other factors that may affect our businesses and operations and could cause actual results to differ materially from those predicted. These risks and uncertainties include, but are not limited to, the risks and costs associated with the integration of, and our ability to successfully integrate the NuVasive business and Globus Medical, Inc. and to achieve anticipated synergies from the integration, health epidemics, pandemics and similar outbreaks, factors affecting our quarterly results, our ability to manage our growth, our ability to sustain our profitability, demand for our products, our ability to compete successfully (including without limitation our ability to convince surgeons to use our products and our ability to attract and retain sales and other personnel), our ability to rapidly develop and introduce new products, our ability to develop and execute on successful business strategies, our ability to comply with changes and applicable laws and regulations that are applicable to our businesses, our ability to safeguard our intellectual property, our success in defending legal proceedings brought against us, trends in the medical device industry, general economic conditions, and other risks set forth throughout this Annual Report, including under“Item 1. Business,” “Item 1A. Risk Factors,” “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and “Item 7A. Quantitative and Qualitative Disclosure About Market Risk” and those discussed in other documents we file with the Securities and Exchange Commission (the “SEC”). Moreover, we operate in an evolving environment. New risk factors and uncertainties emerge from time to time and it is not possible for us to predict all risk factors and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

Given these risks and uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements. Forward-looking statements contained in this Annual Report speak only as of the date of this Annual Report. We undertake no obligation to update any forward-looking statements as a result of new information, events or circumstances or other factors arising or coming to our attention after the date hereof.

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