Enovis Corporation · NYSE:ENOV
Enovis — Q1 2026 Earnings Presentation
21 slides from Enovis's earnings presentation, May 7, 2026
Slide 1: First Quarter 2026 Results
First Quarter 2026 Results May 7, 2026
Slide 2: Forward-looking Statements Non-GAAP Financial Information
Forward-looking Statements Non-GAAP Financial Information This presentation includes forward-looking statements, including forward-looking statements Enovis has provided in this presentation financial information that has not been prepared in accordance with within the meaning of the U.S. Private Se
Slide 3: Q1 2026 Highlights
Q1 2026 Highlights • +3% organic growth, +6% growth adjusted for selling days • +6% organic growth in Recon, +8% days adjusted • +1% organic growth in P&R, +3% days adjusted • Recent product launches driving share gains • Underlying Gross Margins up +40bps despite tariff headwinds Delivering Against
Slide 4: Q1 Reconstructive Segment Sales Performance
Q1 Reconstructive Segment Sales Performance Reconstructive Q1 Sales • WW organic growth of +6% Growth: +11% Y/Y, +6% organic • +10% organic growth in Extremities • +4% organic growth in Hip/Knee • U.S. organic growth of +8% • +10% organic growth in Extremities • +6% organic growth in Hip/Knee, drive
Slide 5: Q1 Prevention & Recovery Segment Sales Performance
Q1 Prevention & Recovery Segment Sales Performance P&R Q1 Sales Growth: +0% Y/Y, +1% organic • WW organic growth of 1% • Global Bracing 1% • Expanded Adjusted Gross Margin by +100bps inclusive of tariff impact • Driven by product mix and divestiture of Dr. Comfort Recovery Sciences Q1 ‘26 • Encourag
Slide 6: P&L Performance
P&L Performance millions Q1 2025 Q1 2026 • +3% organic growth, +6% adjusted for selling days Net Sales $559 $589 Adj. Gross Profit $333 $366 • Adjusted gross margin expansion of +250bps Margin(1) 59.6% 62.1% (+40bps underlying) driven by product mix and EGX efficiency improvements Adj. EBITDA $87 $1
Slide 7: Capital Allocation
Capital Allocation Liquidity as of Q1 2026 Strategic Priorities Cash Flow • Increase free cash flow • Free cash flow improved $16M vs Q125 • $1.3B in long-term debt • Continue to reduce leverage to below 3.0x • On track for +25% free cash flow conversion • $33M in cash in 2026 • $906M unused revolve
Slide 8: Full Year 2026 Outlook
Full Year 2026 Outlook February May Comments • Global markets grow in line with historical Revenue $2.31-$2.37B $2.31-$2.37B averages • ~4.0-6.0% organic growth aEBITDA $425-$435M $425-$435M • 0.5-1.5% FX tailwind at current rates • HSD Recon growth, LSD P&R Depreciation $118-$122M $118-$122M • Dr.
Slide 9: Other Updates and Considerations
Other Updates and Considerations Expect ~50% of revenues in first half vs second half • Strong US productivity and procedural volumes to close out Q1. Continued share gains OUS against a softer Recon market backdrop - expect stable end markets for the full year • Key product launches progressing and
Slide 10: Summary
Summary • Encouraging start to 2026 against an increasingly dynamic operating and geopolitical environment • Above market growth in both segments fueled by recent launches and commercial execution • Multi-year roadmap of new product launches supports continued growth trajectory • 2026 guidance reaff
Slide 11: Appendix
Appendix enovis. Creating Better Together” ma
Slide 12: Revenue Growth Bridge
Revenue Growth Bridge Three Months Ended April 3, 2026 US US INTL Enovis Recon P&R Extremeties Hip/Knee Recon Reported Growth 5% 11% 0% 10% 6% 13% FX Benefit -4% -5% -3% 0% 0% -10% Acq/Divest 2% 0% 4% 0% 0% 0% Organic Growth 3% 6% 1% 10% 6% 3% Days Impact 2% 2% 2% 2% 2% 2% Organic, Days Adjusted 6%
Slide 13: Reconciliation of Impact of Change in Non-GAAP Measures
Reconciliation of Impact of Change in Non-GAAP Measures 2025 2025 Adjusting for Inventory Step-Up Old/Prior Presentation New/Current Presentation Total Enovis Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Adjusted Gross Profit 344.9 341.5 331.0 353.6 1,370.9 (12.1) (6.0) - - (18.1) 332.8 335.5 331.0
Slide 14: QTD Sales Bridge
QTD Sales Bridge Net Sales Prevention and Recovery Reconstructive Total Enovis $ Change % $ Change % $ Change % For the three months ended April 4, 2025 $ 272.6 $ 286.3 $ 558.8 Components of Change: Existing Businesses(1) 2.6 1.0 % 15.8 5.5 % 18.4 3.3 % Acquisitions(2) 1.3 0.5 % — —% 1.3 0.2 % Dives
Slide 15: QTD Adjusted EPS Reconciliation
QTD Adjusted EPS Three Months Ended April 3, 2026 April 4, 2025 Reconciliation Adjusted Net Income and Adjusted Net Income Per Share Net Loss (GAAP) $ (8.5) $ (55.7) Net loss margin (GAAP) (1.4)% (10.0)% Net income attributable to noncontrolling interest from continuing operations - net of taxes (0.
Slide 16: QTD Adjusted EPS Reconciliation
(1) Net loss from continuing operations attributable to Enovis Corporation for the respective periods is calculated using Net loss from continuing operations QTD less the continuing operations component of the income attributable to noncontrolling interest, net of taxes. (2) Restructuring charges in
Slide 17: QTD Adjusted EBITDA Reconciliation
(1) Restructuring charges includes immaterial expenses classified as Cost of sales on the QTD Company’s Condensed Consolidated Statements of Operations for the three months ended April 4, 2025. There were no similar charges for the three months ended April 3, 2026. Adjusted EBITDA (2) MDR and other
Slide 18: QTD Adjusted Gross Margin Reconciliation (Unaudited)
QTD Adjusted Gross Margin Reconciliation (Unaudited) Three Months Ended April 03, 2026 April 04, 2025 Net sales $ 589.2 $ 558.8 Gross profit $ 365.5 $ 332.2 Gross profit margin (GAAP) 62.0 % 59.5 % Gross profit (GAAP) $ 365.5 $ 332.2 PPE step-up depreciation 0.6 0.5 Adjusted gross profit (Non-GAAP)(
Slide 19: Q1'26 GAAP to Adjusted Non-GAAP Financial Measures
Q1’26 GAAP to Adjusted Non-GAAP Financial Measures Dollars in millions (Unaudited) Enovis Acquisition- Restructuring & Related Non- Other Income Tax Continuing Cash Other Adjustmentsc Adjustmentd Adjusted Operations Adjustmentsb Adjustmentsa Net sales $ 589.2 $ — $ — $ — $ — $ 589.2 Cost of goods so
Slide 20: Q1'25 GAAP to Adjusted Non-GAAP Financial Measures
Q1’25 GAAP to Adjusted Non-GAAP Financial Measures Dollars in millions (Unaudited) Enovis Acquisition- Restructuring & Related Non- Other Income Tax Adjusted Continuing Cash Other Adjustmentsc Adjustmentd Operations Adjustmentsb Adjustmentsa Net sales $ 558.8 $ — $ — $ — $ — $ 558.8 Cost of goods so
Slide 21: enovis.
enovis. Creating Better Together”