Enovis Corporation · NYSE:ENOV
Enovis — Q3 2025 Earnings Presentation
19 slides from Enovis's earnings presentation, Nov 6, 2025
Slide 1: Third Quarter 2025 Results
Third Quarter 2025 Results November 6, 2025
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: Q3 2025 Highlights
Q3 2025 Highlights • +9% reported growth, +7% organic growth • +9% organic growth in Recon • +4% organic growth in P&R • Another quarter of improving cash generation, ~$30M in Free Cash Flow in Q3 25 • Encouraging execution from key new products • Nebula and Surgical Impactor in Hip • ARG in Shoulde
Slide 4: Q3 Reconstructive Segment Sales Performance
Q3 Reconstructive Segment Sales Performance Reconstructive Q3 Sales • WW performance back to above market growth • +9% organic growth Growth: +12% Y/Y, +9% organic • +7% global growth in Hip/Knee and DD global growth in Extremities • U.S. organic growth of 7% • +13% Extremities growth led by Shoulde
Slide 5: Q3 Prevention & Recovery Segment Sales Performance
Q3 Prevention & Recovery Segment Sales Performance P&R Q3 Sales • WW organic growth of 4% Growth: +6% Y/Y, +4% organic • Global Bracing growth of 4% • Adjusted Gross Margin expansion +110bps inclusive of tariff impact Recovery Sciences • Encouraging progress shaping our portfolio Q3 ‘25 for growth B
Slide 6: P&L Performance
P&L Performance Millions Q3 2024 Q3 2025 Millions YTD 2024 YTD 2025 Net Sales $505 $549 Net Sales $1,547 $1,672 Adj. Gross Profit $298 $331 Adj. Gross Profit $913 $1,017 Margin 58.9% 60.3% Margin 59.1% 60.8% Adj. EBITDA $90 $95 Adj. EBITDA $264 $291 Margin 17.9% 17.3% Margin 17.0% 17.4% Adj. EPS $0.
Slide 7: Shaping P&R For Profitable, Capital Efficient Growth
Shaping P&R For Profitable, Capital Efficient Growth Financial Terms Strategic Rationale • Total Transaction Value: Up to $60M • Strengthens focus on core Prevention & Recovery market • Upfront Cash Payment: $45M leadership • Milestone Payments: Up to $15M • Effective Q4/25 • Shapes P&R for higher g
Slide 8: Full Year 2025 Outlook
Full Year 2025 Outlook February May August November Guidance Considerations Reported Revenue $2.19-$2.22B $2.22-$2.25B $2.245-$2.275B $2.24-$2.27B • Global markets grow in line with historical averages • Organic Growth = ~6.25-6.75% Y/Y aEBITDA $405-$415M $385-$395M $392-$402M $395-$405M • HSD Recon
Slide 9: Summary
Summary • Solid execution in 3Q and YTD demonstrating the power of the diversified portfolio • Global Recon growth above market fueled by recent launches • Continuing to manage the dynamic global macroeconomic environment • Raising aEBITDA and aEPS guidance • Cash Flow improving © 2025 Enovis Corpor
Slide 10: Appendix
Appendix enovis. Creating Better Together” 10
Slide 11: QTD Sales Bridge
QTD Sales Bridge Net Sales Prevention and Recovery Reconstructive Total Enovis $ Change % $ Change % $ Change % For the three months ended September 27, 2024 $ 274.2 $ 231.0 $ 505.2 Components of Change: Existing Businesses(1) 11.8 4.3 % 21.2 9.2 % 33.0 6.5 % Acquisitions(2) 1.1 0.4 % — —% 1.1 0.2 %
Slide 12: YTD Sales Bridge
YTD Sales Bridge Net Sales Prevention and Recovery Reconstructive Total Enovis $ Change % $ Change % $ Change % For the nine months ended September 27, 2024 $ 811.0 $ 735.6 $ 1,546.6 Components of Change: Existing Businesses(1) 39.0 4.8 % 74.2 10.1 % 113.1 7.3 % Acquisitions(2) 2.8 0.3 % — —% 2.8 0.
Slide 13: QTD Adjusted EPS Reconciliation
QTD Adjusted EPS Three Months Ended Nine Months Ended Reconciliation October 3, 2025 September 27, 2024 October 3, 2025 September 27, 2024 Adjusted Net Income and Adjusted Net Income Per Share Net Loss (GAAP) $ (570.9) $ (31.3) $ (663.2) $ (121.6) Net loss margin (GAAP) (104.0)% (6.2)% (39.7)% (7.9)
Slide 14: 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 QTD operations less the continuing operations component of the income attributable to noncontrolling interest, net of taxes. (2) Restructuring charges in
Slide 15: QTD Adjusted EBITDA Reconciliation
(1) Restructuring charges include $1.5 million and $1.7 million expense classified as Cost of sales on the Company’s Condensed Consolidated Statements of Operations for the three and nine months ended October 3, 2025, respectively. There were two and seven tenths QTD similar charges for the three an
Slide 16: QTD Adjusted Gross Margin Reconciliation (Unaudited)
QTD Adjusted Gross Margin Reconciliation (Unaudited) Three Months Ended Nine Months Ended October 03, 2025 September 27, 2024 October 03, 2025 September 27, 2024 Net sales $ 548.9 $ 505.2 $ 1,672.3 $ 1,546.6 Gross profit $ 328.9 $ 286.5 $ 995.8 $ 873.2 Gross profit margin (GAAP) 59.9 % 56.7 % 59.5 %
Slide 17: Q3'25 GAAP to Adjusted Non-GAAP Financial Measures
Q3’25 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 $ 548.9 $ — $ — $ — $ — $ 548.9 Cost of goods so
Slide 18: Q3'24 GAAP to Adjusted Non-GAAP Financial Measures
Q3’24 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 $ 505.2 $ — $ — $ — $ — $ 505.2 Cost of goods so
Slide 19: enovis.
enovis. Creating Better Together”