Enovis Stock ENOV
Enovis Corp is a global medical technology company specializing in orthopedic and musculoskeletal solutions, serving patients and healthcare providers across approximately 45 countries. Enovis stock (ENOV): Quarterly and annual results since 2023 from Quarterly Report and SEC filings: revenue, earnings, balance sheet, cash flow and management guidance, every figure with its source. As of 08/2026, quarterly reporting. Stock analysis by NadirAlpha. Enovis stock (ENOV): listed on NYSE. NadirAlpha has evaluated 49 original documents, cross-checked every figure automatically and linked each to its source; sources as of 08/2026. Revenue Q2 2026: USD 583 million (+3% year on year). Latest reported (Q2 2026): Adjusted EBITDA margin, Gross profit margin, Adjusted gross profit margin. Latest reading: Guidance confirmed, Revenue accelerating.
AI-generated report · not investment advice · figures extracted automatically; please verify against the linked original more
Enovis Current Status
Where Enovis stands after the report for Q2 2026: what changed in revenue, earnings and outlook, written editorially from the original report. NadirAlpha methodology
Assessment by NadirAlpha, as of Q2 2026.
“Our second-quarter results reflect a more focused organization and a portfolio that has been meaningfully reshaped over the past several years. Commercial execution is improving, our innovation pipeline continues to strengthen our competitive positioning, and our teams are demonstrating agility in navigating increasingly dynamic end markets. We are encouraged by this progress but acknowledge there is more work ahead to deliver consistent durable growth, particularly as we anticipate a more dynamic macroeconomic environment in the second half. We remain focused on winning each day through continuous improvement, and disciplined execution.”
Enovis Stock: Key Figures ($ million)
The core financial figures of Enovis stock in three views: fiscal years up to FY2026, half-years and quarters up to Q2 2026, in $ million, most recent period first. NadirAlpha extracts all values automatically from the filings; errors are possible; please verify decision-relevant figures yourself by clicking through to the linked original. NadirAlpha methodology
All figures serve only to support your own investment decision and are not a recommendation; the company's original reports are authoritative.
Fiscal years
| Period | Revenue | Op. income | Net income | EPS ($) | EPS adj. ($) | EBITDA (adj.) | OCF | Source |
|---|---|---|---|---|---|---|---|---|
| FY2025 | 2,248 | -1,124.2 | -1,184.4 | -20.75 | 3.30 | 403 | 217.3 | 26 |
| FY2024 | 2,107.6 | -775.7 | -825.5 | -14.93 | 2.84 | 216.9 | 113.5 | 18 |
| FY2023 | 1,707.2 | -65.7 | -33.3 | -0.61 | 2.40 | 269.2 | 135 | 10 |
Quarters
| Period | Published | Revenue | Op. income | Net income | EPS ($) | EPS adj. ($) | EBITDA (adj.) | FCF | Cash | Net Debt | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-Q2* | 2026-08-06 | 582.8 | 17.4 | -1.2 | -0.02 | 0.90 | 104.3 | 31.1 | 12.6 | 1,271.9 | 30 |
| 2026-Q1* | 2026-05-07 | 589.2 | 6.5 | -8.4~ | -0.15 | 0.89 | 103.6 | -28.9 | 33.1 | 1,292.8 | 129 |
| 2025-Q4* | 2026-02-26 | 575.8 | -502.2 | -521.3 | -9.13*≈ | 0.95 | 111.9 | 32.3 | 36.4 | 1,260.4 | 127 |
| 2025-Q3* | 2025-11-06 | 548.9 | -558.5 | -571.1 | -9.99 | 0.75 | 94.8 | 29.1 | 33.6 | 1,325.9 | 24 |
| 2025-Q2* | 2025-08-07 | 564.5 | -16.8 | -36.7 | -0.64 | 0.72 | 46.7 | 3.4 | 44.1 | 1,349.5 | 22 |
| 2025-Q1* | 2025-05-08 | 558.8 | -46.8 | -55.7 | -0.98 | 0.65 | 30.9 | -44.9 | 38.5 | 1,349.1 | 20 |
| 2024-Q4* | 2025-02-26 | 561 | -664.7 | -703.9 | -12.73*≈ | 0.98 | 112.9 | 35.1 | 48.2 | 1,281.3 | 119 |
| 2024-Q3* | 2024-11-06 | 505.2 | -31.7 | -31.5 | -0.58 | 0.73 | 90.2 | 2.4 | 35.4 | 1,310 | 16 |
| 2024-Q2* | 2024-08-07 | 525.2 | -44.2 | -18.6 | -0.34 | 0.62 | 90.2 | -31.6 | 35 | 1,309.5 | 14 |
| 2024-Q1* | 2024-05-02 | 516.3 | -35 | -71.8 | -1.32 | 0.50 | 83.2 | -73.1 | 66.3 | 1,272.3 | 12 |
| 2023-Q4* | 2024-02-22 | 455 | -5.8 | 3 | 0.05*≈ | 0.79 | 81.7 | 40.5 | 36.2 | 430 | 10 |
| 2023-Q3* | 2023-11-07 | 417.5 | -20.5 | -2.9 | -0.05 | 0.56 | 65.4 | 4 | 32.1 | 362.9 | 8 |
| 2023-Q2* | 2023-08-03 | 428.5 | -14.5 | -10 | -0.18 | 0.61 | 65.7 | -8.7 | 32.5 | 367.5 | 5 |
| 2023-Q1* | 2023-05-04 | 406.2 | -25 | -23.4 | -0.43 | 0.44 | 56.4 | -23 | 21.9 | 263.1 | 3 |
Enovis Balance Sheet & Cash Flow ($ million)
NadirAlpha places cash, debt, operating cash flow and investments of Enovis side by side per period, balance sheet values as of the period end, flow items for the period. NadirAlpha extracts all values automatically from the filings; errors are possible; please verify decision-relevant figures yourself by clicking through to the linked original. NadirAlpha methodology
Fiscal years
| Period | Published | Cash | Debt | Net Debt | D&A | OCF | Capex | FCF | Source |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | 2026-02-26 | 36.4 | 1,296.8 | 1,260.4 | 1,344.1 | 217.3 | 197.4 | 19.9 | 26 |
| FY2024 | 2025-02-26 | 48.2 | 1,329.5 | 1,281.3 | 927.8 | 113.5 | 180.7 | -67.2 | 18 |
| FY2023 | 2024-02-22 | 36.2 | 466.2 | 430 | 217.1 | 135 | 122.2 | 12.8 | 10 |
Quarters
| Period | Published | Cash | Debt | Net Debt | D&A | OCF | Capex | FCF | Source |
|---|---|---|---|---|---|---|---|---|---|
| 2026-Q2 | 2026-08-06 | 12.6 | 1,284.5 | 1,271.9 | 71 | 75 | 43.9 | 31.1 | 30 |
| 2026-Q1 | 2026-05-07 | 33.1 | 1,326 | 1,292.8 | 73.4 | 24 | 52.8 | -28.9 | 129 |
| 2025-Q4 | 2026-02-26 | 36.4 | 1,296.8 | 1,260.4 | 1,126.8 | 88.5 | 56.3 | 32.3 | 127 |
| 2025-Q3 | 2025-11-06 | 33.6 | 1,359.5 | 1,325.9 | 74.4 | 82.6 | 53.5 | 29.1 | 24 |
| 2025-Q2 | 2025-08-07 | 44.1 | 1,393.5 | 1,349.5 | 71.6 | 47.8 | 44.4 | 3.4 | 22 |
| 2025-Q1 | 2025-05-08 | 38.5 | 1,387.6 | 1,349.1 | 71.4 | -1.6 | 43.3 | -44.9 | 20 |
| 2024-Q4 | 2025-02-26 | 48.2 | 1,329.5 | 1,281.3 | 717.4 | 88.3 | 53.2 | 35.1 | 119 |
| 2024-Q3 | 2024-11-06 | 35.4 | 1,345.5 | 1,310 | 71.2 | 53.6 | 51.2 | 2.4 | 16 |
| 2024-Q2 | 2024-08-07 | 35 | 1,344.5 | 1,309.5 | 65.8 | 7.8 | 39.4 | -31.6 | 14 |
| 2024-Q1 | 2024-05-02 | 66.3 | 1,338.6 | 1,272.3 | 73.4 | -36.2 | 36.9 | -73.1 | 12 |
| 2023-Q4 | 2024-02-22 | 36.2 | 466.2 | 430 | 56.6 | 68.4 | 27.9 | 40.5 | 10 |
| 2023-Q3 | 2023-11-07 | 32.1 | 395 | 362.9 | 55.5 | 31 | 27 | 4 | 8 |
| 2023-Q2 | 2023-08-03 | 32.5 | 400 | 367.5 | 97.4 | 28.1 | 36.8 | -8.7 | 5 |
| 2023-Q1 | 2023-05-04 | 21.9 | 285 | 263.1 | 7.6 | 7.5 | 30.4 | -23 | 3 |
Enovis Guidance Tracking (latest per metric/period · 8/14)
NadirAlpha records 14 guidance statements of Enovis neutrally: annual and quarterly targets, direction of change and outcome as a dot with legend, with no estimate of our own. NadirAlpha methodology
Actuals: revenue in $m · EPS in $ per share
Direction: confirmedraised Verdict: beatin linemisspending
| For period | Guided on | Metric | Guided | Actual | Verdict | Direction | Source |
|---|---|---|---|---|---|---|---|
| FY2026 | 2026-08-06 | Organic revenue growth | 4–6% | – | 31 | ||
| FY2026 | 2026-05-07 | Free cash flow conversion | 25% | – | 31 | ||
| FY2026 | 2026-02-26 | Revenue | 2,310–2,370 | – | 31 | ||
| FY2026 | 2026-02-26 | EPS (non-GAAP) | 3.52–3.73 | – | 31 | ||
| FY2026 | 2026-02-26 | EBITDA (adjusted) | 425–435 | – | 31 | ||
| FY2025 | 2025-11-06 | EBITDA (adjusted) | 395–405 | – | – | 25 | |
| FY2025 | 2025-08-07 | Revenue | 2,240–2,270 | 2,248 | 25 | ||
| FY2025 | 2025-02-26 | EPS (non-GAAP) | 3.1–3.25 | 3.3 | 25 | ||
| FY2024 | 2024-11-06 | Revenue | 2,100 | 2,107.6 | 17 | ||
| FY2024 | 2024-11-06 | EPS (non-GAAP) | 2.75–2.8 | 2.84 | 17 | ||
| FY2024 | 2024-11-06 | EBITDA (adjusted) | 373–378 | 216.9 | 17 | ||
| FY2023 | 2023-11-07 | EPS (non-GAAP) | 2.3–2.4 | 2.4 | 9 | ||
| FY2023 | 2023-11-07 | EBITDA (adjusted) | 264–270 | 269.2 | 9 | ||
| FY2023 | 2023-11-07 | Revenue growth (YoY) | 7.4–7.6% | – | – | 9 |
Enovis Stock: Price & Chart
Interactive price chart of Enovis stock (TradingView) and the trend of key figures from the core tables; the chart loads only after a click and then connects to TradingView. NadirAlpha methodology
Daily candles with news and earnings markers. Loads only on click.
Enovis Event Timeline
This timeline collects the material events of Enovis from the original reports: guidance changes, revenue and margin signals, strategy shifts, product and M&A announcements, grouped by quarter. NadirAlpha methodology
2026 · 7 events
Enovis adjusted net income per diluted share was 0.90 in Q2 2026, compared with $0.72 in Q2 2025 31
Enovis net sales grew 3% reported and 5% organically to USD 582.8 million, with the Reconstructive segment up 8% reported and 6% organic 31
Enovis reaffirmed full-year 2026 guidance: revenue $2.31-2.37 billion, adjusted EBITDA $425-435 million, adjusted EPS $3.52-$3.73, and free cash flow conversion 25% or higher 31
“Our first-quarter results reflect solid execution and continued progress advancing our innovation-led strategy. Growth in the quarter was supported by contributions from recent product launches which enhance our competitive positioning and expand our addressable market. At the same time, we are operating in a dynamic macroeconomic and geopolitical environment, and we remain focused on disciplined execution. Our priorities, commercial execution and innovation, operational excellence, and financial discipline, position us well to navigate near-term uncertainty while continuing to invest in long-term growth. We remain confident in our strategy and our ability to deliver sustainable performance and value for patients and shareholders over time.”
Enovis net sales grew 5% on a reported basis and 3% organically to USD 589.2 million, led by the Reconstructive segment at 11% reported and 6% organic growth 29
Enovis gross margin expanded 260 basis points to 62.0%, driven by higher sales volumes, improved product mix, and a decrease in inventory fair value step-up charges 28
Enovis completed the divestiture of Dr. Comfort Footcare Solutions U.S. operations in October 2025 for up to $60 million, including $45 million upfront and up to $15 million in milestone payments 28
Operating income turned positive for the first time after 14 negative periods (-502.2 to +USD 6.5 million). 129
2025 · 16 events
“As we enter 2026, our focus remains consistent and disciplined, driving commercial execution, advancing our rich innovation pipeline, improving operational efficiency, and maintaining financial discipline, as we position the Company for durable, capital-efficient growth while remaining attentive to the evolving macro environment.”
Q4 net loss from continuing operations of $519M included a $501M non-cash goodwill impairment charge; full-year net loss of $1,182M included $1,050M total goodwill impairment, both triggered by sustained decline in share price and market capitalization (27)
Full-year 2025 adjusted EBITDA reached $403M, up from $376.5M in 2024, driven by increased gross profit and improved operating cost leverage (26, 27)
2026 guidance initiated with 4-6% organic revenue growth and full-year revenue expected at $2.31-2.37B (27)
“We delivered solid results in the third quarter, reflecting continued progress by our teams around the world. Execution was driven by double-digit growth in extremities and consistent performance across Prevention & Recovery. As we position Enovis for its next phase of profitable, capital-efficient growth, we are focusing on the near-term strategic priorities of commercial execution and innovation, operational excellence, and financial discipline.”
Non-cash goodwill impairment charge of $548.4M recognized in Q3, driven by sustained decline in the company's publicly quoted share price and market capitalization, resulting in Q3 net loss of $571M (24, 25)
“My first 90 days have strengthened my belief that Enovis has the foundation, portfolio, and momentum to drive durable, profitable growth. Realizing this potential will require continued operational discipline and a sharp focus on scalable, capital efficient execution. We are in the early stages of unlocking the full value of our orthopedic platform, and I'm excited to lead the Company with a commitment to continue helping millions of people lead full, active lives with a focus on creating shareholder value. Our second-quarter performance reflects the strength of our diversified global portfolio and the opportunity ahead. I'm grateful to the Board and the entire Enovis team for their support and alignment on our strategy.”
Net sales grew 7.5% reported and 5% organic to $564.5M; Reconstructive segment at 8% organic and Prevention & Recovery at 3% organic, each below Q1 comparable growth rates (22, 23)
Q2 gross profit margin improved 430 basis points, driven by reduced inventory fair value step-up amortization from the Lima acquisition and supply chain productivity gains (22)
Full-year 2025 revenue guidance raised to $2.245-2.275B from prior $2.220-2.250B; adjusted EBITDA guidance raised to $392-402M from $385-395M; adjusted EPS guidance raised to $3.05-3.20 from $2.95-3.10 (23)
Operating cash flow reached USD 47.8 million vs USD 7.8 million in 2024-Q2 (×6.1). 22
“We delivered a strong start to 2025, with first-quarter revenues and margins exceeding expectations. This performance reflects the strength of our business system and the discipline of our teams as we navigate a complex global environment. As we move forward, we remain focused on driving above-market growth through disciplined execution, strategic investment, and a multi-year cadence of high-impact product launches across our portfolio.”
Net sales grew 8.2% to $558.8M, led by Reconstructive segment (+11.3%) and Prevention & Recovery segment (+5.2%) (20)
Full-year 2025 revenue guidance set at $2.22-2.25B and adjusted EBITDA at $385-395M, incorporating approximately $20M in tariff-related headwinds (21)
Full-year adjusted EBITDA increased to $376.5M (17.9% margin) from $269.2M (15.8%) in 2023, driven by Lima integration contributions 18
Full-year gross profit margin decreased 200 bps to 56.0%, primarily due to $51.6M cumulative inventory fair value step-up amortization charges from Lima Acquisition 18
2024 · 14 events
Reconstructive (Recon) revenue grew +60.2% to USD 1,009.7 million in FY2024 (48% of group revenue) while group revenue changed -38.3%. 26
“Our performance in 2024 marks a transformational year for the company as we executed our integration plans and solidified our ability to deliver sustainable high-single-digit organic growth and year-over-year margin expansion. Our strong finish in 2024 has set a solid foundation for 2025 with key new product launches positioned to drive above market growth rates.”
Non-cash goodwill impairment charge of $645M ($330M Reconstructive, $315M Prevention & Recovery) recorded due to sustained decline in publicly quoted share price and market capitalization, driving Q4 net loss of $703.9M and full-year net loss of $825.5M 18 19
Q4 net sales +23% on reported basis to $561M with strong growth in Global Reconstructive including Lima acquisition benefits 19
2025 guidance initiated: revenue $2.19-$2.22B (6-6.5% organic growth), adjusted EBITDA $405-$415M, adjusted EPS $3.10-$3.25 19
Operating cash flow turned positive on a half-year basis (2024-H1: -28.4 to 2024-H2: +USD 141.9 million, aggregated from reported quarters where needed). 119
“Our performance this quarter reflects the significant progress of our integration efforts and represents a return to above market growth rates in Recon. We are closing in on a strong finish for 2024 that will propel us into 2025 as we shift our focus from integration to growth, fueled by a robust lineup of important new product introductions across all areas of our business.”
Net sales +21.0% to $505.2M on reported basis; Reconstructive segment grew 56.9% with $68.4M attributable to Lima; comparable growth 6% 16 17
Adjusted EBITDA margin expanded 220 bps to 17.9% of sales, driven by Lima contributions 17
Full-year adjusted EPS guidance raised from $2.62-$2.77 to $2.75-$2.80; full-year revenue guidance narrowed to $2.10B 17
“We continue to execute against our plan for the year and are off to a great start integrating our transformational Lima acquisition. The progress we have made year-to-date, as well as our robust lineup of important new product introductions, sets us up well for accelerating growth and profitability into 2025 and beyond.”
Net sales +22.6% to $525.2M on reported basis; Recon segment grew 59.6% led by Lima and Novastep contributions of $90.1M; comparable growth 5% 14 15
Gross profit margin decreased 3.0% in Q2 due to $23.9M inventory fair value step-up amortization charges from Lima Acquisition 14
“We had a great start to 2024, with both revenues and operating margins exceeding expectations. Our acquisition of Lima is a transformative milestone and reinforces our ability to innovate and take incremental market share in the global orthopedic market. The integration is progressing according to plan and we remain in the early stages of a multi-year cadence of new product introductions across Recon and P&R.”
Net sales +27.1% to $516.3M, primarily from Lima Acquisition and organic growth in existing businesses; proforma growth 5% 12 13
Adjusted EBITDA margin improved 220 bps year-over-year to 16.1% of sales 13
2023 · 14 events
“We are very pleased with our results in 2023 with both revenues and operating margins exceeding expectations while continuing to make investments in key growth initiatives and M&A. We look forward to carrying this momentum into 2024, which is setting up to be a transformative year as we integrate Lima and kick off a multi-year cadence of new product introductions across Recon and P&R.”
Q4 net sales grew 11% to $455M with 8% organic growth; full-year net sales reached $1.7B, up 9% with 8% organic growth; Reconstructive segment delivered 18% full-year growth with 14% organic growth 11
Full-year adjusted EBITDA margin improved 70 basis points year-over-year to 16% of sales, driven by product and geographic mix and new product introductions 11
2024 guidance initiated: revenue $2.05-$2.15B (including Lima contribution of $290-$300M), adjusted EBITDA $365-$380M, adjusted EPS $2.50-$2.65 11
Net income turned positive for the first time after 5 negative periods (-2.9 to +USD 3.0 million). 119
“We are well positioned to achieve our 2023 goals of high-single digit growth and strong margin expansion. We made a significant move to accelerate our growth and margin profile with the pending acquisition of LimaCorporate and are excited by our operational momentum and the strength of our R&D pipeline.”
Issued $460M aggregate principal of senior unsecured convertible notes (3.875%, maturing 2028) in October 2023, materially increasing net debt in connection with Lima acquisition financing 8
Full-year organic revenue growth guidance raised to 7.4-7.6%; adjusted EBITDA raised to $264-$270M; adjusted EPS raised to $2.30-$2.40 9
Definitive agreement entered to acquire LimaCorporate S.p.A. for approximately €800M enterprise value, intended to strengthen and further globalize the Reconstructive segment 9
“We are very pleased with our first half 2023 results of high-single digit growth and strong margin expansion. We continue to make progress on our strategic goals and have robust operating momentum in both of our business segments. As we look to the balance of the year, we will maintain our focus on innovation-driven share gain, operational improvement with EGX, and compounding impact from M&A.”
Gross profit margin improved to 58.0% from 54.6% year-over-year; fourth consecutive quarter of year-over-year gross margin improvement 5 6
Full-year organic revenue growth guidance raised to 7-7.5% from prior 6-7%; adjusted EBITDA guidance raised to $262-$270M; adjusted EPS guidance raised to $2.22-$2.36 6
Novastep acquired on June 28, 2023 for $97.9M, a minimally invasive surgery foot and ankle solutions provider, expanding the Reconstructive segment 5
Operating cash flow turned positive on a half-year basis (2022-H2: -16.6 to 2023-H1: +USD 35.6 million, aggregated from reported quarters where needed). 5
“We had a great start to the 2023 fiscal year, exceeding our expectations with strong organic growth and expanding margins while supporting key investments in innovation and acquisitions. We outperformed our markets with double-digit organic growth in Recon and mid-single-digit organic growth in P&R. We look forward to continuing our operating momentum while deploying our strong balance sheet against a robust M&A pipeline.”
Q1 net sales grew 8% to $406.2M with 9% organic growth; Reconstructive segment grew 19% organically and Prevention and Recovery grew 4% organically 3
Gross profit margin expanded to 57.9% from 54.8% year-over-year, benefiting from volume growth, pricing increases, and improved operating leverage 3
Full-year organic revenue growth guidance raised to 6-7% from prior 5-6%; adjusted EBITDA raised to $259-$267M; adjusted EPS raised to $2.18-$2.32 4
Enovis Business Model
What Enovis does and how the company earns its money, written AI-editorially from the original reports alone, without any assessment of our own. NadirAlpha methodology
Enovis Corp is a global medical technology company specializing in orthopedic and musculoskeletal solutions, serving patients and healthcare providers across approximately 45 countries. Enovis operates through two principal segments: Reconstructive (Recon), which develops and commercializes joint replacement implants for hips, knees, and extremities, and Prevention & Recovery, which provides bracing, rehabilitation, and recovery products. Revenue is generated through direct sales forces and distribution channels, with procedure-volume growth in elective orthopedic surgeries serving as the primary demand driver for the Reconstructive segment. Enovis expanded its reconstructive footprint through the acquisition of Lima Orthopaedics, a European implant manufacturer, raising international exposure to approximately 44-45% of net sales. Enovis pursues organic growth through product innovation and commercial execution, supplemented by targeted bolt-on acquisitions of distributors, businesses, and intellectual property. Following the divestiture of Dr. Comfort Footcare Solutions U.S. operations in October 2025, the Prevention & Recovery segment is focused on bracing and rehabilitation products, while capital allocation balances organic investment with debt reduction following substantial acquisition activity in recent years.
Enovis Stock: Share-Price Drivers
Factors Enovis itself names as material for its business development, reproduced neutrally, without price forecast and without assessment of our own. NadirAlpha methodology
Enovis generated group revenue of USD 582.8 million in 2026-Q2 with the Reconstructive side leading, as U.S. Reconstructive grew 8.2 percent and the broader Reconstructive segment grew 5.5 percent (29), while the integration of the LimaCorporate acquisition remained ongoing (30); because Reconstructive now carries the group's top-line growth, its traction is the central driver of the equity story (31).
Enovis reported U.S. Reconstructive revenue growth of 8.2 percent and Reconstructive segment growth of 5.5 percent (29); the company frames a strengthening innovation pipeline alongside this unit (31), and the LimaCorporate integration continued to feed the segment (30).
Enovis saw Prevention & Recovery grow 1.0 percent, with U.S. Other P&R up 2.9 percent and U.S. Bracing & Support broadly flat at -0.2 percent (29), so the P&R side is holding rather than accelerating.
Enovis completed the LimaCorporate acquisition and seven further transactions across distributors, businesses and intellectual property in 2025 (26, 28), while divesting the Dr. Comfort Footcare Solutions business in October 2025 (30), concentrating the portfolio on Reconstructive and core P&R.
Enovis returned to positive operating income of USD 17.4 million and a near-breakeven net result of USD -1.2 million in 2026-Q2, against the heavy operating losses of USD -558.5 million and USD -502.2 million in the prior two quarters that were driven by impairments; adjusted EPS of 0.90 points higher versus 0.72 a year earlier, but reported profitability remains thin.
Enovis carried net debt of USD 1,271.9 million at 2026-Q2, down from USD 1,292.8 million in the prior quarter, while free cash flow of USD 31.1 million turned positive after the outflow of USD -28.9 million in 2026-Q1 (31); the high absolute debt load keeps deleveraging a watch item.
Sector trend: Enovis points to orthopedic demand holding up, with Reconstructive procedure volumes the faster-growing end and Prevention & Recovery broadly stable (29). Management confirmed its guidance and describes growth as accelerating while the innovation pipeline strengthens, suggesting sector KPIs are trending modestly higher on the Reconstructive side (31).
Enovis Revenue by Type (as of 2026-Q2 · USD million · 10/12)
Where the revenue of Enovis comes from: segments and product types with share, growth and margin, as of Q2 2026, older structures remain in the expandable part. NadirAlpha methodology
| Segment | Since | Revenue | Growth | Margin | Source |
|---|---|---|---|---|---|
| Period 2026-Q1 (3M) | |||||
| Reconstructive | 2022-Q1 | 317.1 | 5.5% | – | 29 |
| Prevention & Recovery | 2022-Q1 | 272 | 1% | – | 29 |
| International Reconstructive | 2026-Q1 | 167.9 | 3% | – | 29 |
| U.S. Reconstructive | 2026-Q1 | 149.2 | 8.2% | – | 29 |
| U.S. Bracing & Support | 2026-Q1 | 114.9 | -0.2% | – | 29 |
| International P&R | 2026-Q1 | 101.3 | 0.9% | – | 29 |
| U.S. Other P&R | 2026-Q1 | 55.9 | 2.9% | – | 29 |
| Period FY2025 (12M) | |||||
| Prevention & Recovery (P&R) | FY2022 | 1,137 | – | 54% | 26 |
| Reconstructive (Recon) | FY2022 | 1,111.1 | – | 65.8% | 26 |
| Period 2025-Q2 (6M) | |||||
| Prevention and Recovery | 2023-Q1 | 563.2 | 4.9% | – | 23 |
| Period 2024-Q3 (9M) | |||||
| P&R | 2024-Q3 | 811 | 2.1% | – | 17 |
| Period 2024-Q3 (3M) | |||||
| Recon | 2024-Q2 | 735.6 | 60.7% | – | 17 |
Enovis Products & announcements (1/7 active+recent)
What Enovis launched, had approved or announced, from the filings up to Q2 2026, each row with the date of first mention. NadirAlpha methodology
Status: PlannedLaunched
| Product/Line | Since | Status | Source |
|---|---|---|---|
| 2026 | |||
| Innovation pipeline strengthening | 2026-06 | 31 | |
| 2024 | |||
| Arvis 2.0 Shoulder | 2024-09 | 15 | |
| Altivate Reverse Glenoid system | 2024-09 | 15 | |
| ROAM OA launch | 2024-02 | 13 | |
| Lima Trabecular Titanium Cones for use with EMPOWR launch | 2024-02 | 13 | |
| Arvis 2.0 launch | 2024-02 | 13 | |
| Multi-year cadence of new product introductions across Recon and P&R | 2024 | 11 | |
Enovis Transactions & Events (24)
Transactions of Enovis since 2023: acquisitions, disposals, agreements and regulation, deliberately including smaller items; purchase prices only when the company names them. NadirAlpha methodology
Acquisitions by Enovis
| Transaction / stake | Date | Type | Source |
|---|---|---|---|
| 2025 | |||
| Strategic acquisitions (seven transactions) | 2025-06 | Completed | 22 |
| Strategic purchases of economic interest on future royalty payments | 2025-03 | Completed | 21 |
| Five bolt-on acquisitions (three P&R, two Recon) | 2025-03 | Completed | 20 |
| Seven transactions including three distributors, two businesses, and two intellectual property purchases | 2025 | Completed | 28 |
| Seven acquisitions in 2025 (distributors, businesses, intellectual property) | 2025 | Completed | 26 |
| 2023 | |||
| Precision AI acquisition (3x) | 2023-10 | Completed | 26 |
| Lima Acquisition (3x) | 2023-09 | Completed | 26 |
| Acquisition of LimaCorporate S.p.A. | 2023-09 | Completed | 13 |
| SEAL asset acquisition (6x) | 2023-07 | Completed | 26 |
| Novastep Acquisition - Minimally Invasive Surgery foot and ankle solutions | 2023-06 | Completed | 26 |
| Novastep acquisition from Amplitude Surgical SA | 2023-03 | Completed | 3 |
| Novastep acquisition | 2023 | Completed | 26 |
| 2022 | |||
| Insight Medical Systems controlling interest acquisition | 2022-09 | Completed | 5 |
| Insight Medical Systems acquisition (ARVIS surgical navigation system) | 2022-09 | Completed | 18 |
| 360 Med Care (KICo) Acquisition - Computer-assisted surgery distributor | 2022-06 | Completed | 18 |
| 360 Med Care acquisition | 2022-05 | Completed | 5 |
Divestitures and exits by Enovis
| Transaction / stake | Date | Type | Source |
|---|---|---|---|
| 2025 | |||
| Sale of fabrication technology business | 2025-12 | Divested | 27 |
| Dr Comfort Divestiture (3x) | 2025-10 | Divested | 26 |
| Diabetic Footcare business unit divestiture from P&R segment | 2025-10 | Divested | 25 |
| 2024 | |||
| Hosiery business divestiture | 2024-04 | Divested | 22 |
| Discontinued third-party OEM relationships (Recon segment) | 2024 | Divested | 20 |
| Compression Hosiery Product Line Divestiture (3x) | 2024 | Divested | 16 |
| 2022 | |||
| ESAB Separation (spin-off of fabrication technology business) | 2022-04 | Divested | 3 |
| ESAB Separation | 2022 | Divested | 18 |
Enovis Risks (85 since the annual report of 2026-02-26, 185 tracked in total)
Which risks Enovis has named since the annual report, company-specific first, generic standard risks in the expandable part; first mention refers to the document base from 2023. NadirAlpha methodology
Category: MacroLegalSupply chainRegulatoryTechnologyFinancialPeopleCompetitionGeopoliticsCustomersMarketCyberStrategy
| Risk | Category | Last reported |
|---|---|---|
| Enovis: first mention in 8-K-EX99.1 earnings release of 2026-08-06 (2026-Q2), source 31 | ||
| Anticipation of more dynamic macroeconomic environment in second half | = | |
| Enovis: first mention in 10-Q quarterly report of 2026-08-06 (2026-Q2), source 30 | ||
| Significant foreign currency exposure with 44-45% of sales from non-U.S. operations; exchange rate movements impact results. | = | |
| Ability to maintain, protect and defend intellectual property rights is critical to competitive position. | = | |
| Enovis: first mention in 10-K annual report of 2026-02-26 (FY2025), source 26 | ||
| Exposure to supply chain disruptions, raw material availability, and price fluctuations affecting production. | 2026-Q2 2026-08-06 30 | |
| Enovis: first mention in 8-K-EX99.1 earnings release of 2025-08-07 (2025-Q2), source 23 | ||
| Impact of changes in government trade policies and implementation of tariffs | 2026-Q2 2026-08-06 31 | |
| Enovis: first mention in 10-K annual report of 2025-02-26 (FY2024), source 18 | ||
| Exposure to tariffs and changes in government trade policies affecting supply chain costs. | 2026-Q2 2026-08-06 30 | |
| Enovis: first mention in 10-Q quarterly report of 2024-08-07 (2024-Q2), source 14 | ||
| Ongoing integration costs associated with Lima acquisition including payroll, retention, professional fees, and distributor network rationalization | 2026-Q2 2026-08-06 31 | |
| Enovis: first mention in 10-Q quarterly report of 2024-05-02 (2024-Q1), source 12 | ||
| Extensive government regulation and FDA oversight of medical device products; failure to maintain approvals and clearances could impact business. | 2026-Q2 2026-08-06 30 | |
| Enovis: first mention in 10-K annual report of 2024-02-22 (FY2023), source 10 | ||
| Service interruptions, cyber-based attacks, or network security breaches could impact IT infrastructure. | 2026-Q2 2026-08-06 30 | |
| Enovis: first mention in 8-K-EX99.1 earnings release of 2023-11-07 (2023-Q3), source 9 | ||
| Medical device reporting regulation compliance costs for European market devices | 2026-Q2 2026-08-06 31 | |
| Exposure to inflationary pressures, energy costs, and general economic conditions. | 2026-Q2 2026-08-06 30 | |
| Enovis: first mention in 10-Q quarterly report of 2023-11-07 (2023-Q3), source 8 | ||
| Debt agreements contain covenants limiting flexibility in operating business and M&A activities. | 2026-Q2 2026-08-06 30 | |
| Potential loss of key management team members could impact business execution. | 2026-Q2 2026-08-06 30 | |
| Failure to comply with healthcare laws and regulations, including anti-bribery laws and export controls. | 2026-Q2 2026-08-06 30 | |
| Company operates in competitive medical device market with various competitors. | 2026-Q2 2026-08-06 30 | |
| Enovis: first mention in 8-K-EX99.1 earnings release of 2023-08-03 (2023-Q2), source 6 | ||
| Disruptions in global economy from Russia-Ukraine conflict and Middle East tensions impact operations. | 2026-Q2 2026-08-06 30 | |
| Supply chain disruptions from escalating geopolitical tensions including Russia-Ukraine and Middle East conflicts | 2026-Q2 2026-08-06 31 | |
| Enovis: first mention in 8-K-EX99.1 earnings release of 2023-05-04 (2023-Q1), source 4 | ||
| Increasing energy costs and availability concerns particularly in European market | 2026-Q2 2026-08-06 31 | |
| Enovis: first mention in 10-Q quarterly report of 2023-05-04 (2023-Q1), source 3 | ||
| Company exposed to product liability claims and legal proceedings related to medical device operations. | 2026-Q2 2026-08-06 30 | |
| Variable-rate debt exposure to SOFR-based interest rate changes; 1% rate increase would impact annual interest by approximately $8.6 million. | 2026-Q2 2026-08-06 30 | |
| Reliance on multiple distribution channels and healthcare professionals for product sales. | 2026-Q2 2026-08-06 30 | |
| Enovis: first mention in 8-K-EX99.1 earnings release of 2026-05-07 (2026-Q1), source 29 | ||
| Disruptions from escalating geopolitical tensions including Russia-Ukraine and Middle East conflicts | = | |
| Operating in dynamic macroeconomic and geopolitical environment with near-term uncertainty | = | |
| Enovis: first mention in 10-Q quarterly report of 2026-05-07 (2026-Q1), source 28 | ||
| Debt agreements contain restrictions limiting flexibility; maximum senior secured leverage ratio covenant of 3.50:1.00 | = | |
| $460 million convertible notes maturing October 15, 2028; refinancing needed for mature debt | = | |
| Escalating geopolitical tensions disrupt global supply chain and increase costs | = | |
| Disruptions from geopolitical tensions including Russia-Ukraine and Middle East conflicts impact global economy | = | |
| Extensive government regulation and oversight of medical device products; requirement to obtain and maintain regulatory approvals | = | |
| Enovis: first mention in 8-K-EX99.1 earnings release of 2026-02-26 (2025-Q4), source 27 | ||
| Evolving macro environment and global economic conditions | = | |
| Changes in government trade policies including implementation of tariffs | = | |
| Enovis: first mention in 10-K annual report of 2026-02-26 (FY2025), source 26 | ||
| Vulnerability of IT infrastructure and systems to cyberattacks, ransomware, and security breaches affecting PHI and financial data. | = | |
| 42% foreign sales exposed to currency fluctuations | = | |
| Senior Secured Leverage Ratio covenant requires maintaining at least 3.50:1.00 ratio; failure to maintain could trigger default. | = | |
| Inadequate reimbursement or coverage by Medicare, Medicaid, or private payors could reduce sales and margins. | = | |
| Exposure to U.S. export controls, economic sanctions, and trade restrictions affecting international operations. | = | |
| Success depends on acceptance by healthcare professionals | = | |
| Raw material, energy and labor price fluctuations impact operations | = | |
| Risk of non-compliance with Foreign Corrupt Practices Act given government-sponsored healthcare systems internationally. | = | |
| Compliance with AI and machine-learning governance could pose operational, regulatory, and reputational risks. | = | |
| Must obtain MDR certification for EU market; regulatory requirements increasing | = | |
| Failure to obtain or maintain FDA clearances, approvals, or comply with regulations could delay product delivery and harm reputation. | = | |
| Unrecognized tax benefits net liabilities of $33.4 million; adverse tax examination outcomes could increase tax expense. | = | |
| Delays in obtaining FDA clearances could harm future growth | = | |
| UK MHRA regulations require UKCA certification or UDI registration | = | |
| Reliance on third-party distributors and direct sales force involves distinct risks | = | |
| Restructuring programs may not achieve anticipated benefits | = | |
| Fair value determinations for goodwill testing use subjective estimates including discount rates and cash flow projections. | = | |
| Highly competitive markets; competitors may have superior resources | = | |
| Cash position of $36.4 million; future acquisition costs and capital requirements may require additional financing. | = | |
| Issuance of additional common and preferred stock, including conversion of 2028 Notes, could dilute earnings per share. | = | |
| OECD Pillar 2 and other tax law changes could impact effective tax rates | = | |
| Enovis: first mention in 10-Q quarterly report of 2025-11-06 (2025-Q3), source 24 | ||
| 42% of sales from outside U.S.; 10% currency depreciation would reduce equity by approximately $221.6 million. | FY2025 2026-02-26 26 | |
| Enovis: first mention in 10-Q quarterly report of 2025-05-08 (2025-Q1), source 20 | ||
| Spin-off of ESAB may not qualify as tax-free transaction, subjecting shareholders to tax liabilities. | = | |
| Enovis: first mention in 8-K-EX99.1 earnings release of 2025-02-26 (2024-Q4), source 19 | ||
| Impact of public health emergencies and global pandemics | 2026-Q1 2026-05-07 29 | |
| Enovis: first mention in 10-K annual report of 2025-02-26 (FY2024), source 18 | ||
| May require additional capital for acquisitions; capital markets access uncertain | FY2025 2026-02-26 26 | |
| Conversion of 2028 Notes could adversely affect liquidity and share price | FY2025 2026-02-26 26 | |
| Violations of federal and state healthcare fraud, abuse, and false claims laws could result in substantial penalties. | FY2025 2026-02-26 26 | |
| Extensive FDA regulation; failure to maintain compliance could restrict operations | FY2025 2026-02-26 26 | |
| Pandemics and disasters could disrupt supply chain and healthcare operations | FY2025 2026-02-26 26 | |
| Exposed to raw material price fluctuations; uses fixed-price contracts to manage commodity risk. | FY2025 2026-02-26 26 | |
| Weakness in global economy could reduce demand for medical devices and impact customer liquidity. | FY2025 2026-02-26 26 | |
| Enovis: first mention in 10-Q quarterly report of 2024-08-07 (2024-Q2), source 14 | ||
| Dependent on availability of raw materials; tariffs and supply chain risks | FY2025 2026-02-26 26 | |
| Impact of escalating geopolitical tensions including Russia-Ukraine and Middle East conflicts | 2025-Q4 2026-02-26 27 | |
| Enovis: first mention in 10-Q quarterly report of 2024-05-02 (2024-Q1), source 12 | ||
| Safety issues or recalls could negatively impact reputation and business | FY2025 2026-02-26 26 | |
| Effects of Lima Acquisition on relationships with customers, suppliers and third parties. | 2025-Q1 2025-05-08 20 | |
| Enovis: first mention in 8-K-EX99.1 earnings release of 2024-02-22 (2023-Q4), source 11 | ||
| Outstanding debt and financial obligations could restrict business flexibility | FY2025 2026-02-26 26 | |
| Enovis: first mention in 10-K annual report of 2024-02-22 (FY2023), source 10 | ||
| Non-compliance with HIPAA, GDPR, and evolving data protection laws could result in significant penalties. | FY2025 2026-02-26 26 | |
| FDA enforcement or penalties for improper marketing or promotion of medical devices for off-label uses. | FY2025 2026-02-26 26 | |
| Modifications may require new regulatory clearances or product recalls | FY2025 2026-02-26 26 | |
| New competitor technologies could render products obsolete | FY2025 2026-02-26 26 | |
| Loss of key senior leadership or inability to attract and retain qualified employees could impair business execution. | FY2025 2026-02-26 26 | |
| Enovis: first mention in 8-K-EX99.1 earnings release of 2023-11-07 (2023-Q3), source 9 | ||
| IRS could determine ESAB separation and distribution taxable if facts, assumptions, or representations incorrect. | FY2025 2026-02-26 26 | |
| Enovis: first mention in 10-Q quarterly report of 2023-11-07 (2023-Q3), source 8 | ||
| Reliance on third-party payors for adequate reimbursement of medical device products | 2026-Q1 2026-05-07 28 | |
| Unable to successfully integrate Lima Acquisition, impacting operational performance and financial results | 2026-Q1 2026-05-07 28 | |
| Potential material indemnification liabilities to ESAB under separation agreements could adversely affect financial condition. | FY2025 2026-02-26 26 | |
| Goodwill impairment charges totaled $1.7 billion accumulated; further share price declines could trigger additional impairment. | FY2025 2026-02-26 26 | |
| Disruption at manufacturing facilities could reduce sales and meet customer demand | FY2025 2026-02-26 26 | |
| Lengthy, expensive clinical trial process with uncertain outcomes could delay commercialization of new products. | FY2025 2026-02-26 26 | |
| Must comply with FDA QSR and foreign manufacturing regulations | FY2025 2026-02-26 26 | |
| Failed integration of acquired businesses could adversely affect financial results | FY2025 2026-02-26 26 | |
| Goodwill impairment evaluations significantly affected by economic conditions and business climate changes. | FY2025 2026-02-26 26 | |
| Safety issues or recalls of products could damage reputation and increase costs | 2025-Q2 2025-08-07 22 | |
| Enovis: first mention in 8-K-EX99.1 earnings release of 2023-08-03 (2023-Q2), source 6 | ||
| Macroeconomic conditions including inflationary pressures | 2025-Q4 2026-02-26 27 | |
| Enovis: first mention in 10-Q quarterly report of 2023-05-04 (2023-Q1), source 3 | ||
| Must maintain, protect and defend intellectual property rights for orthopedic solutions | 2026-Q1 2026-05-07 28 | |
| 46% of sales from non-US operations exposed to currency fluctuations; 1% interest rate increase would increase interest expense by $2.1 million | 2026-Q1 2026-05-07 28 | |
Enovis Reported KPIs (as disclosed) (138)
The story KPIs of Enovis that standard databases usually miss, grouped by publication, most recent first, with source number. NadirAlpha methodology
| KPI | Value / change | Source |
|---|---|---|
| Enovis, published 2026-08-06, period 2026-Q2 | ||
| Gross profit margin | 61.6% | 31 |
| Adjusted gross profit margin | 61.7% | 31 |
| Adjusted EBITDA margin (six months) | 17.7% | 31 |
| Adjusted EBITDA margin | 17.9% | 31 |
| Enovis, published 2026-05-07, period 2026-Q1 | ||
| Revolver available | 906 | 28 |
| Recon Gross profit margin | 69.1% | 28 |
| Recon Adjusted EBITDA margin | 22.9% | 28 |
| P&R Gross profit margin | 53.8% | 28 |
| P&R Adjusted EBITDA margin | 11.4% | 28 |
| Operating income margin | 1.1% | 28 |
| Operating income | 6.5 | 28 |
| Net loss | -8.5 | 28 |
| Gross profit margin | 62.0% | 28 |
| Gross profit | 365.5 | 28 |
| Cash and cash equivalents | 33.1 | 28 |
| Adjusted EBITDA margin | 17.6% | 28 |
| Enovis, published 2026-02-26, period FY2025 | ||
| Weighted-average interest rate | 5.23% | 26 |
| Unrecognized tax benefits net liabilities | 33.4 million | 26 |
| Term Loan outstanding | 688 million | 26 |
| Term Loan Facility commitment | 700 million | 26 |
| Stock repurchase authorization remaining | 100.0 million | 26 |
| Revolver outstanding | 157.2 million | 26 |
| Revolver capacity | 1.1 billion | 26 |
| Other purchase obligations | 135.1 million | 26 |
| Operating cash flow | 217.3 million | 26 |
| Lease payment obligations | 97.3 million | 26 |
| International sales percentage | 42% | 26 |
| Contingent letters of credit and surety bonds | 51.9 million | 26 |
| Cash and cash equivalents | 36.4 million | 26 |
| Capital expenditures | 197.4 million | 26 |
| Allowance for credit losses | 25.6 million | 26 |
| 2028 Notes outstanding | 452 million | 26 |
| 2028 Notes interest rate | 3.875% | 26 |
| Enovis, published 2026-02-26, period 2025-Q4 | ||
| Adjusted EBITDA margin | 19.4% | 27 |
| Enovis, published 2025-11-06, period 2025-Q3 | ||
| Adjusted net income margin from continuing operations | 7.9% | 25 |
| Adjusted gross profit margin | 60.3% | 25 |
| Adjusted EBITDA margin (non-GAAP) | 17.9 | 24 |
| Adjusted EBITDA margin (non-GAAP) | 17.3 | 24 |
| Adjusted EBITDA margin (non-GAAP) | 17.0 | 24 |
| Adjusted EBITDA margin (non-GAAP) | 17.4 | 24 |
| Adjusted EBITDA margin | 17.3% | 25 |
| Enovis, published 2025-08-07, period 2025-Q2 | ||
| Overdraft facilities borrowing capacity | 30.0 | 22 |
| Letters of credit and surety bonds outstanding | 50.1 | 22 |
| Cash and cash equivalents | 44.1 | 22 |
| Available on Revolver | 325 | 22 |
| Enovis, published 2025-05-08, period 2025-Q1 | ||
| Gross profit margin (GAAP) | 59.4% | 21 |
| Comparable Sales Growth rate | 9.3 | 20 |
| Adjusted EBITDA margin (non-GAAP) | 17.8 | 20 |
| Adjusted EBITDA margin | 17.7% | 21 |
| Enovis, published 2025-02-26, period FY2024 | ||
| Unrecognized income tax benefits | 33.4 | 18 |
| Term Loan principal outstanding | 377 | 18 |
| Revolver principal outstanding | 503.1 | 18 |
| Revolver available | 397.0 | 18 |
| Purchase obligations | 130.6 | 18 |
| Operating loss | (775.7) | 18 |
| Operating lease payment obligations | 80.6 | 18 |
| Net sales | 2,107.6 | 18 |
| Net loss from continuing operations | (827.4) | 18 |
| Letters of credit and surety bonds outstanding | 36.5 | 18 |
| International sales percentage | 41% | 18 |
| Gross profit margin | 56.0% | 18 |
| Estimated future interest payments - Term Loan | 51.3 | 18 |
| Estimated future interest payments - Revolver | 136.0 | 18 |
| Estimated future interest payments | 59.5 | 18 |
| Comparable Sales | 2,102.8 | 18 |
| Cash and cash equivalents | 48.2 | 18 |
| 2028 Notes principal outstanding | 449 | 18 |
| Enovis, published 2025-02-26, period 2024-Q4 | ||
| Reconstructive Comparable Sales growth | 10% | 19 |
| Reconstructive Comparable Sales growth | 9% | 19 |
| Prevention & Recovery Comparable Sales growth | 3% | 19 |
| Prevention & Recovery Comparable Sales growth | 3% | 19 |
| Comparable Sales growth | 6% | 19 |
| Comparable Sales growth | 6% | 19 |
| Adjusted EBITDA margin | 20% | 19 |
| Adjusted EBITDA margin | 18% | 19 |
| Enovis, published 2024-11-06, period 2024-Q3 | ||
| Recon Comparable Sales growth (three months) | 9% | 17 |
| P&R Comparable Sales growth (three months) | 3% | 17 |
| Comparable Sales growth (three months) | 6% | 17 |
| Comparable Sales Growth - Total (three months) | 5.7 | 16 |
| Comparable Sales Growth - Total (nine months) | 5.3 | 16 |
| Comparable Sales Growth - Recon (three months) | 9.2 | 16 |
| Comparable Sales Growth - Recon (nine months) | 8.0 | 16 |
| Comparable Sales Growth - P&R (three months) | 2.9 | 16 |
| Comparable Sales Growth - P&R (nine months) | 3.0 | 16 |
| Cash, cash equivalents and restricted cash | 39.8 | 16 |
| Available on Revolver | 385 | 16 |
| Adjusted EBITDA margin (three months) | 17.9% | 17 |
| Adjusted EBITDA margin (nine months) | 17.0% | 17 |
| Enovis, published 2024-08-07, period 2024-Q2 | ||
| Recon comparable sales growth | 7% | 15 |
| P&R comparable sales growth | 3% | 15 |
| Comparable sales growth | 5% | 15 |
| Available Revolver | 385 million | 14 |
| Enovis, published 2024-05-02, period 2024-Q1 | ||
| Gross profit margin (GAAP) | 57.7% | 13 |
| Cash, cash equivalents and restricted cash | 74.5 | 12 |
| Available on Revolver | 400 | 12 |
| Adjusted net income margin from continuing operations | 5.4% | 13 |
| Adjusted gross profit margin (Non-GAAP) | 58.7% | 13 |
| Adjusted EBITDA margin | 16.1% | 13 |
| Enovis, published 2024-02-22, period FY2023 | ||
| Weighted-average interest rate on Enovis Credit Agreement borrowings | 6.58% | 10 |
| Senior secured leverage ratio covenant | 3.75:1.00 | 10 |
| Purchase obligations | 145.9 | 10 |
| Outstanding letters of credit | 11.5 | 10 |
| Net liabilities for unrecognized income tax benefits | 34.1 | 10 |
| Fixed lease payment obligations | 71.7 | 10 |
| Cash and cash equivalents | 44.8 | 10 |
| Available on Revolver | 880.0 | 10 |
| Allowance for credit losses | 9.7 | 10 |
| Adjusted EBITDA margin (non-GAAP) Total | 15.8% | 10 |
| Adjusted EBITDA margin (non-GAAP) Recon | 18.5% | 10 |
| Adjusted EBITDA margin (non-GAAP) P&R | 14.2% | 10 |
| 2028 Notes principal amount | 460.0 | 10 |
| 2028 Notes interest rate | 3.875% | 10 |
| Enovis, published 2024-02-22, period 2023-Q4 | ||
| Adjusted gross margin (Non-GAAP) | 58.6% | 11 |
| Adjusted EBITDA margin | 18% | 11 |
| Enovis, published 2023-11-07, period 2023-Q3 | ||
| US hip/knee growth | +18% | 9 |
| Reconstructive segment growth | 16% | 9 |
| Reconstructive organic growth | 10% | 9 |
| Prevention and Recovery segment growth | 5% | 9 |
| Prevention and Recovery organic growth | 4% | 9 |
| Adjusted EBITDA margin | 15.7% | 9 |
| Enovis, published 2023-08-03, period 2023-Q2 | ||
| Gross profit margin | 58.0 | 5 |
| Gross profit margin | 54.6 | 5 |
| Gross profit margin | 57.9 | 5 |
| Gross profit margin | 54.9 | 5 |
| Adjusted EBITDA margin | 15.3 | 5 |
| Adjusted EBITDA margin | 14.2 | 5 |
| Adjusted EBITDA margin | 14.6 | 5 |
| Adjusted EBITDA margin | 13.5 | 5 |
| Gross margin | 58.0% | 6 |
| Adjusted EBITDA margin | 15.3% | 6 |
| Enovis, published 2023-05-04, period 2023-Q1 | ||
| Operating loss margin (GAAP) prior year | -8.2 | 3 |
| Operating loss margin (GAAP) | -6.1 | 3 |
| Gross profit margin prior year | 54.8 | 3 |
| Gross profit margin | 57.9 | 3 |
| Adjusted net income margin from continuing operations | 5.9% | 4 |
| Adjusted EBITDA margin (Non-GAAP) prior year | 12.7 | 3 |
| Adjusted EBITDA margin (non-GAAP) | 13.9 | 3 |
| Adjusted EBITDA margin | 13.9% | 4 |
Enovis Development
The business development of Enovis period by period up to Q2 2026, each text from the original report of that period, source numbers lead to the source. NadirAlpha methodology
FY2026: Enovis
Enovis reported net sales of USD 589.2 million in Q1 2026, up 5% on a reported basis and 3% organically 29, and USD 582.8 million in Q2 2026, up 3% reported and 5% organically 31, with the Reconstructive segment as the primary growth driver in both periods. Gross margins expanded in both quarters, driven by higher sales volumes and improved product mix 28 30, with Q1 showing a 260 basis point improvement to 62.0% also supported by lower inventory fair value step-up charges 28. Enovis posted net losses of USD 8.4 million in Q1 29 and USD 1.2 million in Q2 31, while adjusted EPS was 0.89 in Q1 and 0.90 in Q2 31. The divestiture of Dr. Comfort Footcare Solutions U.S. operations, completed in October 2025 for up to $60 million, reduced the Prevention & Recovery segment's reported sales growth in Q1 28. After Q2 results, Enovis reaffirmed full-year 2026 guidance for revenue of $2.31-2.37 billion, adjusted EBITDA of $425-435 million, adjusted EPS of $3.52-$3.73, and free cash flow conversion of 25% or higher 31.
FY2025: Enovis
Enovis Corp reported full-year 2025 net sales of $2,248.0 million, an increase of 6.7% from $2,107.6 million in 2024, with Reconstructive segment net sales rising 10% to $1,111.1 million and Prevention & Recovery segment net sales rising 3.6% to $1,137.0 million (26). Gross profit margin improved 380 basis points to 59.8%, and adjusted EBITDA increased to $403.0 million from $376.5 million in the prior year, while full-year free cash flow was $19.9 million (26, 27). The reported net loss of $1,184.4 million for FY2025 reflects non-cash goodwill impairment charges totaling $1,049.8 million recorded in two tranches, $540.8 million in Q3 and $501.0 million in Q4, both attributed to a sustained decline in the company's publicly quoted share price and market capitalization (26, 27). Material corporate actions during the year included seven bolt-on acquisitions for $36.9 million total consideration, the divestiture of Dr. Comfort Footcare Solutions for up to $60 million completed in October 2025, appointment of a new CEO effective May 2025, and an amendment to the credit agreement in December 2025 extending revolver and term loan maturity to 2030 (26).
FY2024: Enovis
Enovis Corporation reported FY2024 net sales of $2,107.6 million, an increase of 23.5% versus 2023, driven primarily by $338.1 million in contributions from the Lima and Novastep acquisitions within the Reconstructive segment 18. Comparable sales grew 5.6% for the full year, reflecting 8.2% volume and market share gains in Recon and 3.0% organic growth in Prevention & Recovery 18. Adjusted EBITDA rose to $376.5 million (17.9% of net sales) from $269.2 million (15.8%) in 2023, while gross profit margin contracted 200 basis points to 56.0%, primarily due to $51.6 million of inventory fair value step-up amortization charges related to the Lima Acquisition 18. Enovis recorded a non-cash goodwill impairment charge of $645 million in 2024, tied to a sustained decline in its publicly quoted share price and market capitalization relative to the carrying values of its Reconstructive and Prevention & Recovery reporting units, resulting in a net loss from continuing operations of $827.4 million compared to $53.8 million in 2023 18 19. Operating cash flow was $113.5 million versus $135.0 million in 2023, with free cash flow of negative $67.2 million, impacted by $180.7 million in capital expenditures and $73.7 million of working capital used primarily from international business growth 18.
FY2023: Enovis
Enovis Corporation reported FY 2023 net sales of $1,707.2 million, an increase of 9.2% year-over-year driven by 8% organic growth across both the Prevention & Recovery and Reconstructive segments 119. Gross profit margin expanded to 58.0% from 55.6% in 2022, and adjusted EBITDA grew to $269.2 million from $236.1 million in the prior year, representing a margin improvement of approximately 70 basis points to approximately 16% of net sales 10 11. Enovis recorded a full-year operating loss of $65.7 million and a net loss of $33.3 million ($0.61 loss per diluted share), while adjusted diluted EPS reached $2.40 119. Enovis completed three acquisitions within the Reconstructive segment during the year, Novastep for $96.9 million in June, SEAL for $28.2 million in July, and Precision AI in October 2023, and issued $460 million in senior unsecured convertible notes at 3.875% in October 2023 10. A definitive agreement to acquire LimaCorporate S.p.A. for approximately €800 million enterprise value was announced in Q3 2023, with the transaction closing on January 3, 2024 9 10.
Glossary
- Revenue: Revenue from contracts with customers, net of sales deductions, as the company itself reports it; not total output, gross revenue, GMV or order intake.
- Op. income: The operating line of the income statement; EBIT only as a marked fallback, never pre-tax or ordinary income.
- EBITDA (adj.): Adjusted EBITDA, verbatim and company-defined (non-GAAP), never derived.
- Net income: Net income attributable to the shareholders of the parent, after discontinued operations; not the result including minority interests, not comprehensive income.
- EPS: Diluted earnings per share attributable to the shareholders of the parent; a printed figure always beats a calculated one, calculated values are marked.
- EPS adj.: Adjusted earnings per share, verbatim and company-defined (non-GAAP).
- FCF: Free cash flow = operating cash flow minus capital expenditure on property, plant and equipment; the company's own free cash flow figure is shown separately.
- OCF: Cash flow from operating activities as reported; IFRS companies may show interest paid in financing cash flow, so the figure is not always comparable.
- Cash: Cash and cash equivalents, without securities unless the company reports them as part of the position.
- Net Debt: Net debt = financial debt excluding lease liabilities minus cash at the same reporting date; the company's own net position may differ.
- *: derived, the formula is in the hover
- ≈: calculated, approximation
- ~: uncertain; the value stays visible, verdicts do not use it
- °: repaired by a targeted query against the document, or curated with documentary evidence
- EBIT: EBIT as a fallback: the income statement carries no operating line
- basic: basic earnings per share as a fallback when diluted is missing
Sources: quarterly reports, annual reports and investor relations documents
The evidence base for Enovis stock: every document with type and date, every figure in the report leads here by number and to the original by link. NadirAlpha methodology
Older sources (+18)
| # | Document type | Published |
|---|---|---|
| #201 | 10-Q quarterly report | 2016-05-03 |
| #202 | 10-Q quarterly report | 2016-07-28 |
| #203 | 10-Q quarterly report | 2016-10-27 |
| #204 | 10-K annual report | 2017-02-14 |
| #208 | 10-K annual report | 2017-02-14 |
| #205 | 10-Q quarterly report | 2017-05-05 |
| #206 | 10-Q quarterly report | 2017-07-28 |
| #207 | 10-Q quarterly report | 2017-11-06 |
| #212 | 10-K annual report | 2018-02-16 |
| #209 | 10-Q quarterly report | 2018-05-03 |
| #210 | 10-Q quarterly report | 2018-08-06 |
| #211 | 10-Q quarterly report | 2018-10-25 |
| #213 | 10-K annual report | 2019-02-21 |
| #217 | 10-K annual report | 2020-02-24 |
| #214 | 10-Q quarterly report | 2020-05-07 |
| #215 | 10-Q quarterly report | 2020-08-06 |
| #216 | 10-Q quarterly report | 2020-10-29 |
| #218 | 10-Q quarterly report | 2021-07-28 |
Enovis Stock FAQ
Is there a management forecast (guidance) for FY2026?
Yes. Management has issued targets for FY2026, including Organic revenue growth. The guidance tracking chapter shows all targets and checks them against the actuals reported later; neutral, with no estimate of our own.
Which additional key figures does Enovis report?
As reported for Q2 2026: Adjusted EBITDA margin, Gross profit margin, Adjusted gross profit margin, Adjusted EBITDA margin (six months). The chapter Reported KPIs lists every value with its source. Revenue is broken down by Reconstructive, Prevention & Recovery, International Reconstructive, U.S. Reconstructive.
Where can I find the official investor relations documents of Enovis?
NadirAlpha links all 49 original filings used (SEC filings) in the sources chapter: earnings release, quarterly report, annual report, each with type, publication date and a direct link; every figure in the report carries a source number.