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10-Q Filing

GLOBUS MEDICAL INC CIK: 1237831 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001562762-22-000244
Period End Date 20220331
Filing Date 20220510
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance gmed-20220331x10q_htm.xml
Filing Contents
Balance Sheet 71 line items
Line Item Tag Value Unit Period
Accounts receivable, allowances AllowanceForDoubtfulAccountsReceivableCurrent $4.19M USD Point-in-time
Accounts receivable, allowances AllowanceForDoubtfulAccountsReceivableCurrent $4.96M USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $229.79M USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $193.07M USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $239.40M USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $184.85M USD Point-in-time
Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $305.57M USD Point-in-time
Short-term marketable securities MarketableSecuritiesCurrent $243.50M USD Point-in-time
Short-term marketable securities MarketableSecuritiesCurrent $250.38M USD Point-in-time
Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $313.51M USD Point-in-time
Accounts receivable, net of allowances of $4,186 and $4,962, respectively AccountsReceivableNetCurrent $164.44M USD Point-in-time
Accounts receivable, net of allowances of $4,186 and $4,962, respectively AccountsReceivableNetCurrent $166.22M USD Point-in-time
Inventories InventoryNet $253.89M USD Point-in-time
Inventories InventoryNet $237.00M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 775.00M shares Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $18.42M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $19.59M USD Point-in-time
Income taxes receivable IncomeTaxesReceivable $3.61M USD Point-in-time
Income taxes receivable IncomeTaxesReceivable $1.22M USD Point-in-time
Total current assets AssetsCurrent $916.60M USD Point-in-time
Total current assets AssetsCurrent $864.52M USD Point-in-time
Property and equipment, net of accumulated depreciation of $313,514 and $305,575, respectively PropertyPlantAndEquipmentNet $221.08M USD Point-in-time
Property and equipment, net of accumulated depreciation of $313,514 and $305,575, respectively PropertyPlantAndEquipmentNet $227.54M USD Point-in-time
Long-term marketable securities MarketableSecuritiesNoncurrent $562.48M USD Point-in-time
Long-term marketable securities MarketableSecuritiesNoncurrent $546.88M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $64.39M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $68.66M USD Point-in-time
Goodwill Goodwill $179.71M USD Point-in-time
Goodwill Goodwill $156.72M USD Point-in-time
Goodwill Goodwill $179.04M USD Point-in-time
Other assets OtherAssetsNoncurrent $36.33M USD Point-in-time
Other assets OtherAssetsNoncurrent $34.31M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $29.94M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $24.49M USD Point-in-time
Total assets Assets $2.00B USD Point-in-time
Total assets Assets $1.96B USD Point-in-time
Accounts payable AccountsPayableCurrent $21.95M USD Point-in-time
Accounts payable AccountsPayableCurrent $26.09M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $91.17M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $75.53M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $1.05M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $16.52M USD Point-in-time
Business acquisition liabilities BusinessAcquisitionLiabilitiesCurrent $11.77M USD Point-in-time
Business acquisition liabilities BusinessAcquisitionLiabilitiesCurrent $11.54M USD Point-in-time
Deferred revenue DeferredRevenueCurrent $12.03M USD Point-in-time
Deferred revenue DeferredRevenueCurrent $11.81M USD Point-in-time
Payable to broker PayablesToBrokerDealersAndClearingOrganizations $2.20M USD Point-in-time
Total current liabilities LiabilitiesCurrent $141.49M USD Point-in-time
Total current liabilities LiabilitiesCurrent $140.16M USD Point-in-time
Business acquisition liabilities, net of current portion BusinessAcquisitionLiabilitiesNoncurrent $56.50M USD Point-in-time
Business acquisition liabilities, net of current portion BusinessAcquisitionLiabilitiesNoncurrent $58.76M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $4.31M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $3.81M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $12.64M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $11.52M USD Point-in-time
Total liabilities Liabilities $215.88M USD Point-in-time
Total liabilities Liabilities $213.32M USD Point-in-time
Commitments and contingencies (Note 15) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 15) CommitmentsAndContingencies - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $570.08M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $553.79M USD Point-in-time
Accumulated other comprehensive income/(loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-6.77M USD Point-in-time
Accumulated other comprehensive income/(loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-17.17M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.19B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.23B USD Point-in-time
Total equity StockholdersEquity $1.79B USD Point-in-time
Total equity StockholdersEquity $1.74B USD Point-in-time
Total equity StockholdersEquity $1.56B USD Point-in-time
Total equity StockholdersEquity $1.51B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $1.96B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $2.00B USD Point-in-time
Income Statement 50 line items
Line Item Tag Value Unit Period
Net sales Revenues $230.55M USD 1 Quarter
Net sales Revenues $227.34M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $59.17M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $55.03M USD 1 Quarter
Gross profit GrossProfit $171.38M USD 1 Quarter
Gross profit GrossProfit $172.32M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $17.41M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $14.92M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $100.75M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $97.89M USD 1 Quarter
Provision for litigation LitigationSettlementExpense $2.34M USD 1 Quarter
Provision for litigation LitigationSettlementExpense $-94.00K USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $4.51M USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $4.77M USD 1 Quarter
Acquisition related costs BusinessCombinationAcquisitionRelatedCosts $274.00K USD 1 Quarter
Acquisition related costs BusinessCombinationAcquisitionRelatedCosts $-76.00K USD 1 Quarter
Total operating expenses OperatingExpenses $117.77M USD 1 Quarter
Total operating expenses OperatingExpenses $124.94M USD 1 Quarter
Operating income/(loss) OperatingIncomeLoss $54.55M USD 1 Quarter
Operating income/(loss) OperatingIncomeLoss $46.45M USD 1 Quarter
Interest income/(expense), net InterestIncomeExpenseNet $2.54M USD 1 Quarter
Interest income/(expense), net InterestIncomeExpenseNet $2.71M USD 1 Quarter
Foreign currency transaction gain/(loss) ForeignCurrencyTransactionGainLossBeforeTax $-391.00K USD 1 Quarter
Foreign currency transaction gain/(loss) ForeignCurrencyTransactionGainLossBeforeTax $-280.00K USD 1 Quarter
Other income/(expense) OtherNonoperatingIncomeExpenseOther $301.00K USD 1 Quarter
Other income/(expense) OtherNonoperatingIncomeExpenseOther $214.00K USD 1 Quarter
Total other income/(expense), net OtherNonoperatingIncomeExpense $2.65M USD 1 Quarter
Total other income/(expense), net OtherNonoperatingIncomeExpense $2.45M USD 1 Quarter
Income/(loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $48.90M USD 1 Quarter
Income/(loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $57.19M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $10.81M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $11.87M USD 1 Quarter
Net income/(loss) NetIncomeLoss $45.33M USD 1 Quarter
Net income/(loss) NetIncomeLoss $38.08M USD 1 Quarter
Unrealized gain/(loss) on marketable securities OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-1.67M USD 1 Quarter
Unrealized gain/(loss) on marketable securities OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-8.83M USD 1 Quarter
Foreign currency translation gain/(loss) OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $-1.57M USD 1 Quarter
Foreign currency translation gain/(loss) OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $-4.11M USD 1 Quarter
Total other comprehensive income/(loss), net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-5.78M USD 1 Quarter
Total other comprehensive income/(loss), net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-10.39M USD 1 Quarter
Comprehensive income/(loss) ComprehensiveIncomeNetOfTax $27.69M USD 1 Quarter
Comprehensive income/(loss) ComprehensiveIncomeNetOfTax $39.55M USD 1 Quarter
Basic EarningsPerShareBasic $0.37 USD 1 Quarter
Basic EarningsPerShareBasic $0.45 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.44 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.37 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 99.87M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 101.60M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 102.42M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 104.08M shares 1 Quarter
Cash Flow Statement 66 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $45.33M USD 1 Quarter
Net income NetIncomeLoss $38.08M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $17.16M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $16.84M USD 1 Quarter
Amortization of premium (discount) on marketable securities InvestmentIncomeNetAmortizationOfDiscountAndPremium $-520.00K USD 1 Quarter
Amortization of premium (discount) on marketable securities InvestmentIncomeNetAmortizationOfDiscountAndPremium $-1.69M USD 1 Quarter
Write-down for excess and obsolete inventories, net InventoryWriteDown $1.55M USD 1 Quarter
Write-down for excess and obsolete inventories, net InventoryWriteDown $1.83M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $8.15M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $7.70M USD 1 Quarter
Allowance for doubtful accounts ProvisionForDoubtfulAccounts $80.00K USD 1 Quarter
Allowance for doubtful accounts ProvisionForDoubtfulAccounts $-728.00K USD 1 Quarter
Change in fair value of business acquisition liabilities BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 $258.00K USD 1 Quarter
Change in fair value of business acquisition liabilities BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 $-263.00K USD 1 Quarter
Change in deferred income taxes DeferredIncomeTaxesAndTaxCredits $-2.99M USD 1 Quarter
Change in deferred income taxes DeferredIncomeTaxesAndTaxCredits $-808.00K USD 1 Quarter
(Gain)/loss on disposal of assets, net GainLossOnDispositionOfAssets1 $-115.00K USD 1 Quarter
(Gain)/loss on disposal of assets, net GainLossOnDispositionOfAssets1 $-103.00K USD 1 Quarter
Payment of business acquisition related liabilities PaymentForContingentConsiderationLiabilityOperatingActivities $743.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $20.35M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $1.61M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $17.94M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $4.00M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-4.52M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-547.00K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $4.16M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $4.21M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $-4.78M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $-15.43M USD 1 Quarter
Income taxes payable/receivable IncreaseDecreaseInAccruedIncomeTaxesPayable $12.98M USD 1 Quarter
Income taxes payable/receivable IncreaseDecreaseInAccruedIncomeTaxesPayable $12.08M USD 1 Quarter
Net cash provided by/(used in) operating activities NetCashProvidedByUsedInOperatingActivities $63.57M USD 1 Quarter
Net cash provided by/(used in) operating activities NetCashProvidedByUsedInOperatingActivities $44.69M USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireInvestments $185.11M USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireInvestments $142.15M USD 1 Quarter
Maturities of marketable securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $39.85M USD 1 Quarter
Maturities of marketable securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $106.55M USD 1 Quarter
Sales of marketable securities ProceedsFromSaleOfAvailableForSaleSecuritiesDebt $33.82M USD 1 Quarter
Sales of marketable securities ProceedsFromSaleOfAvailableForSaleSecuritiesDebt $42.67M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $19.97M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $13.67M USD 1 Quarter
Acquisition of businesses, net of cash acquired, and purchases of intangible and other assets PaymentsToAcquireBusinessesNetOfCashAcquired $1.00M USD 1 Quarter
Net cash provided by/(used in) investing activities NetCashProvidedByUsedInInvestingActivities $-125.11M USD 1 Quarter
Net cash provided by/(used in) investing activities NetCashProvidedByUsedInInvestingActivities $-13.89M USD 1 Quarter
Payment of business acquisition liabilities PaymentOfBusinessAcquisitionLiabilities $1.70M USD 1 Quarter
Payment of business acquisition liabilities PaymentOfBusinessAcquisitionLiabilities $1.54M USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $7.75M USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $9.10M USD 1 Quarter
Net cash provided by/(used in) financing activities NetCashProvidedByUsedInFinancingActivities $7.56M USD 1 Quarter
Net cash provided by/(used in) financing activities NetCashProvidedByUsedInFinancingActivities $6.05M USD 1 Quarter
Effect of foreign exchange rates on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-569.00K USD 1 Quarter
Effect of foreign exchange rates on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-123.00K USD 1 Quarter
Net increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $36.72M USD 1 Quarter
Net increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-54.55M USD 1 Quarter
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $229.79M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $193.07M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $239.40M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $184.85M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $229.79M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $193.07M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $239.40M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $184.85M USD Point-in-time
Income taxes paid IncomeTaxesPaidNet $570.00K USD 1 Quarter
Income taxes paid IncomeTaxesPaidNet $572.00K USD 1 Quarter
Purchases of property and equipment included in accounts payable and accrued expenses CapitalExpendituresIncurredButNotYetPaid $2.62M USD 1 Quarter
Purchases of property and equipment included in accounts payable and accrued expenses CapitalExpendituresIncurredButNotYetPaid $4.11M USD 1 Quarter
Stockholders Equity 17 line items
Line Item Tag Value Unit Period
Total equity, beginning of period StockholdersEquity $1.79B USD Point-in-time
Total equity, beginning of period StockholdersEquity $1.74B USD Point-in-time
Total equity, beginning of period StockholdersEquity $1.56B USD Point-in-time
Total equity, beginning of period StockholdersEquity $1.51B USD Point-in-time
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $8.35M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $7.88M USD 1 Quarter
Grant of restricted stock units StockIssuedDuringPeriodValueRestrictedStockAwardGross $163.00K USD 1 Quarter
Grant of restricted stock units StockIssuedDuringPeriodValueRestrictedStockAwardGross $196.00K USD 1 Quarter
Exercise of stock options (shares) StockIssuedDuringPeriodSharesStockOptionsExercised 184,000.00 shares 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $7.75M USD 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $9.10M USD 1 Quarter
Comprehensive income/(loss) ComprehensiveIncomeNetOfTax $27.69M USD 1 Quarter
Comprehensive income/(loss) ComprehensiveIncomeNetOfTax $39.55M USD 1 Quarter
Total equity, end of period StockholdersEquity $1.79B USD Point-in-time
Total equity, end of period StockholdersEquity $1.74B USD Point-in-time
Total equity, end of period StockholdersEquity $1.56B USD Point-in-time
Total equity, end of period StockholdersEquity $1.51B USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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