CONMED Corporation, a medical technology company, develops, manufactures, and sells devices and equipment for surgical procedures. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as supporting products include powered resection instruments , fluid management, and visualization systems and the related single-use products that enable surgeons to perform minimally invasive sports medicine surgeries. It also provides battery-powered, autoclavable, large, and small bone power tool systems for use in orthopedic, arthroscopic, oral/maxillofacial, podiatric, spinal, and cardiothoracic surgeries under the Hall surgical brand name. In addition, the company offers general surgery products, such as clinical insufflation systems under the AirSeal brand; smoke removal devices under the Buffalo Filter brand; endomechanical products, including the Anchor1 line of tissue retrieval bags, trocars, suction irrigation devices, graspers, scissors, and dissectors, used in minimally invasive surgeries; and electrosurgical solution comprise monopolar and bipolar generators, argon beam coagulation generators, handpieces, smoke management systems, and other accessories. Further, it provides endoscopic technologies, including therapeutic and diagnostic products for use in gastroenterology procedures, and products to treat diseases of dilation, hemostasis, biliary, stricture management, infection prevention, and patient monitoring include ECG electrodes, EEG electrodes, and cardiac defibrillation pads. It markets its products directly to hospitals, surgery centers, and other healthcare institutions, as well as through medical specialty distributors. The company was incorporated in 1970 and is headquartered in Largo, Florida.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.4B | $176M | $47M | $151M | 4.6% | 5.2% | -64.5% |
| 2024 | $1.3B | $272M | $132M | $154M | 13.8% | 5.0% | 105.4% |
| 2023 | $1.2B | $192M | $64M | $106M | 7.7% | 19.1% | -180.0% |
| 2022 | $1.0B | $28M | $-81M | $12M | -10.8% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,045.47 | 1,244.74 | 1,307.02 | 1,374.72 |
| Operating Revenue | - | 1,045.47 | 1,244.74 | 1,307.02 | 1,374.72 |
| Cost Of Revenue | - | 474.23 | 568.50 | 573.98 | 624.25 |
| Gross Profit | - | 571.24 | 676.24 | 733.03 | 750.48 |
| Operating Expense | - | 501.19 | 555.64 | 532.71 | 647.85 |
| Research And Development | - | 47.15 | 52.60 | 54.43 | 55.88 |
| Selling General And Administration | - | 454.04 | 503.04 | 478.28 | 591.97 |
| Total Expenses | - | 975.42 | 1,124.14 | 1,106.69 | 1,272.10 |
| Operating Income | - | 70.05 | 120.60 | 200.33 | 102.62 |
| Total Operating Income As Reported | - | 70.05 | 120.60 | 200.33 | 102.62 |
| EBITDA | - | 27.56 | 192.48 | 272.18 | 176.48 |
| Normalized EBITDA | - | 27.56 | 192.48 | 272.18 | 176.48 |
| EBIT | - | -41.96 | 120.60 | 200.33 | 102.20 |
| Interest Expense | - | 28.90 | 39.78 | 37.30 | 31.09 |
| Net Interest Income | - | -28.90 | -39.78 | -37.30 | -31.09 |
| Other Non Operating Income Expenses | -1.13 | -112.01 | - | - | -0.42 |
| Other Income Expense | -1.13 | -112.01 | - | - | -0.42 |
| Interest Expense Non Operating | - | 28.90 | 39.78 | 37.30 | 31.09 |
| Net Non Operating Interest Income Expense | - | -28.90 | -39.78 | -37.30 | -31.09 |
| Pretax Income | - | -70.86 | 80.83 | 163.03 | 71.12 |
| Tax Provision | - | 9.72 | 16.37 | 30.61 | 24.06 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -80.58 | 64.46 | 132.42 | 47.06 |
| Net Income From Continuing And Discontinued Operation | - | -80.58 | 64.46 | 132.42 | 47.06 |
| Net Income From Continuing Operation Net Minority Interest | - | -80.58 | 64.46 | 132.42 | 47.06 |
| Net Income | - | -80.58 | 64.46 | 132.42 | 47.06 |
| Net Income Common Stockholders | - | -80.58 | 64.46 | 132.42 | 47.06 |
| Net Income Including Noncontrolling Interests | - | -80.58 | 64.46 | 132.42 | 47.06 |
| Normalized Income | - | -80.58 | 64.46 | 132.42 | 47.06 |
| Diluted NI Availto Com Stockholders | - | -80.58 | 64.46 | 132.42 | 47.06 |
| Basic Average Shares | - | 30.04 | 30.67 | 30.85 | 31.04 |
| Diluted Average Shares | - | 30.04 | 31.55 | 31.15 | 31.15 |
| Reconciled Depreciation | - | 69.52 | 71.87 | 71.86 | 74.28 |
| Reconciled Cost Of Revenue | - | 474.23 | 568.50 | 573.98 | 624.25 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| CONMED Corporationthis co. | CNMD | $1.1B | 22.48β premium | 1.02 | 4.6% | 10.49 |
| MannKind Corporation | MNKD | $1.1B | 185.49 | -21.31 | -11.5% | 26.79 |
| Savara Inc. | SVRA | $1.1B | -9.14 | 5.35 | -58.5% | -8.83 |
| Omada Health, Inc. | OMDA | $1.1B | -84.72 | 4.71 | -5.6% | -181.05 |
| Xeris Biopharma Holdings, Inc. | XERS | $1.1B | 1916.51 |
| - |
| - |
| - |
| - |
| - |
| 77.56 |
| 4.0% |
| 28.56 |
| Collegium Pharmaceutical, Inc. | COLL | $1.1B | 16.86 | 3.51 | 20.8% | 4.10 |
| Azenta, Inc. | AZTA | $1.1B | -18.88 | 0.61 | -3.2% | 20.85 |
| The Pennant Group, Inc. | PNTG | $1.0B | 35.40 | 3.15 | 8.9% | 24.38 |
| QuidelOrtho Corporation | QDEL | $1.0B | -0.92 | 0.54 | -58.9% | -7.68 |
| Peer Median | - | 7.97 | 3.33 | -4.4% | 12.47 | |