0001628280-26-032290 | 10-Q | XBRL Viewer

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STOCK-BASED AWARDS - Schedule of Stock-based Compensation Schedule (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]
Stock-based compensation expense	$ 12,617	$ 13,206
Net stock-based compensation capitalized into inventory	171	118
Total stock-based compensation cost	$ 12,788	$ 13,324

ASSET ACQUISITIONS AND BUSINESS COMBINATIONS - Schedule of Preliminary Purchase Price (Details) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
	Apr. 03, 2025	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Business Combination [Line Items]
Bargain purchase gain		$ 1,118	$ 0
Nevro Merger Agreement
Business Combination [Line Items]
Current assets (excluding accounts receivable and inventories)		10,328		$ 10,328
Accounts receivable		70,754		70,754
Inventories		116,815		116,815
Property and equipment		28,714		29,051
Operating lease right of use assets		12,269		12,269
Intangible assets		56,000		56,000
Other long-term assets		2,143		4,223
Deferred income taxes		147,522		144,853
Total Assets		444,545		444,293
Current liabilities (excluding operating lease liabilities)		46,014		46,880
Operating lease liabilities, including current portion		27,163		27,163
Total liabilities		73,177		74,043
Fair value of acquired identifiable assets and liabilities		371,368		370,250
Less: Purchase price		252,546		252,546
Bargain purchase gain		118,822		117,704
Preliminary Purchase Price Allocation \| Nevro Merger Agreement
Business Combination [Line Items]
Current assets (excluding accounts receivable and inventories)	$ 10,328
Accounts receivable	70,754
Inventories	115,416
Property and equipment	29,051
Operating lease right of use assets	12,269
Intangible assets	53,600
Other long-term assets	4,223
Deferred income taxes	141,510
Total Assets	437,150
Current liabilities (excluding operating lease liabilities)	46,880
Operating lease liabilities, including current portion	27,163
Total liabilities	74,043
Fair value of acquired identifiable assets and liabilities	363,107
Less: Purchase price	252,546
Bargain purchase gain	$ 110,561
Measurement Period and Other Adjustments \| Nevro Merger Agreement
Business Combination [Line Items]
Current assets (excluding accounts receivable and inventories)		0		0
Accounts receivable		0		0
Inventories		0		1,400
Property and equipment		(337)		0
Operating lease right of use assets		0		0
Intangible assets		0		2,400
Other long-term assets		(2,080)		0
Deferred income taxes		2,669		3,343
Total Assets		252		7,143
Current liabilities (excluding operating lease liabilities)		(866)		0
Operating lease liabilities, including current portion		0		0
Total liabilities		(866)		0
Fair value of acquired identifiable assets and liabilities		1,118		7,143
Less: Purchase price		0		0
Bargain purchase gain		$ 1,118		$ 7,143

ASSET ACQUISITIONS AND BUSINESS COMBINATIONS

3 Months Ended

Mar. 31, 2026

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

ASSET ACQUISITIONS AND BUSINESS COMBINATIONS

Nevro Merger

As previously disclosed on February 6, 2025, the Company entered into the Nevro Merger Agreement with Nevro. On April 3, 2025, pursuant to the terms of the Nevro Merger Agreement, Palmer Merger Sub merged with and into Nevro, with Nevro surviving as a wholly owned subsidiary of the Company. At the consummation of the Nevro Merger, each issued and outstanding share of common stock of Nevro, $0.001 par value per share, was converted into cash in an amount equal to $5.85 per share of common stock of Nevro.

As part of the Nevro Merger, the Company cash settled equity awards for all outstanding Nevro RSUs and performance stock units (“PSUs”) in accordance with the terms of the Nevro Merger Agreement. Of the total consideration for the cash settled equity awards, $9.5 million was allocated to the purchase price and $15.1 million was deemed compensatory as it was attributable to post acquisition vesting and was expensed on the acquisition date due to cash settlement.

Concurrently with the Nevro Merger, the Nevro existing term loans and warrants were paid off, with Globus funding $18.5 million of this repayment, which we have determined to be included within the aggregate consideration.

The aggregate consideration in connection with the closing of the Nevro Merger was as follows:


(In thousands, except share and per share values)
Nevro shares outstanding as of April 3, 2025	38,383
Price paid per share	$	5.85
Total consideration paid for outstanding common stock of Nevro	$	224,538
Repayment of Nevro’s term loans, warrants, and other transaction costs	18,515
Fair value of cash settled equity awards	9,493
Total purchase price	$	252,546

We accounted for the Nevro Merger using the acquisition method of accounting, which requires Nevro’s assets and liabilities to be recorded on our balance sheet at fair value as of the acquisition date.

The following table summarizes the final purchase price allocation for the Nevro Merger as of March 31, 2026:


(In thousands)	Preliminary Purchase Price Allocation as of April 3, 2025		Measurement Period and Other Adjustments		Purchase Price Allocation as of December 31, 2025 (as adjusted)		Measurement Period and Other Adjustments		Final Purchase Price Allocation
Current assets (excluding accounts receivable and inventories)	$	10,328	$	—	$	10,328	$	—	$	10,328
Accounts receivable	70,754		—		70,754		—		70,754
Inventories	115,416		1,400		116,815		—		116,815
Property and equipment	29,051		—		29,051		(337)		28,714
Operating lease right of use assets	12,269		—		12,269		—		12,269
Intangible assets	53,600		2,400		56,000		—		56,000
Other long-term assets	4,223		—		4,223		(2,080)		2,143
Deferred income taxes	141,510		3,343		144,853		2,669		147,522
Total Assets	$	437,150	$	7,143	$	444,293	$	252	$	444,545

Current liabilities (excluding operating lease liabilities)	$	46,880	$	—	$	46,880	$	(866)	$	46,014
Operating lease liabilities, including current portion	27,163		—		27,163		—		27,163
Total liabilities	$	74,043	$	—	$	74,043	$	(866)	$	73,177

Fair value of acquired identifiable assets and liabilities	$	363,107	$	7,143	$	370,250	$	1,118	$	371,368
Less: Purchase price	$	252,546	$	—	$	252,546	$	—	$	252,546
Bargain purchase gain	$	110,561	$	7,143	$	117,704	$	1,118	$	118,822

The excess fair value of the net assets acquired over the purchase price resulted in the recognition of a bargain purchase gain and was recorded in the bargain purchase gain on the condensed consolidated statements of operations and comprehensive income. The gain on bargain purchase occurred primarily due to the recognition of the deferred tax assets. The deferred tax assets were comprised primarily of pre-acquisition federal net operating loss carryforwards with an indefinite carryforward period. The majority of the bargain purchase gain is non-taxable for tax purposes. Total transaction costs incurred in connection with the Nevro Merger were $28.9 million for the year ended December 31, 2025, with immaterial costs incurred during the three months ended March 31, 2026. These transaction costs were recognized as acquisition-related costs in the condensed consolidated statements of operations and comprehensive income.

Details of our valuation methodology and significant inputs for fair value measurements are included below. The fair value measurements for property and equipment and intangible assets are based on significant inputs that are not observable in the market and, therefore, represent Level 3 measurements.

The fair value of work-in-process and finished goods inventory utilizes a sales comparison approach which estimates the selling price of the inventory in completed condition less costs of disposal and a reasonable profit allowance for the selling effort.

The fair value of property and equipment utilizes a combination of the cost approach, income approach, and sales comparison approach less amounts for capitalized research and development costs existing on Nevro’s closing balance sheet.

The fair value of the identifiable intangible assets was determined using variations of the income approach, namely the multi-period excess earnings and relief from royalty methodologies. The most significant assumptions applied in the development of the intangible asset fair values include: the amount and timing of future cash flows, the selection of discount and royalty rates, and the assessment of the asset’s economic life.

The identifiable intangible assets acquired are amortized on a straight-line basis over their estimated useful lives. The following table summarizes the estimated fair value of Nevro’s identifiable intangible assets acquired and their remaining amortization period (in years):


(In thousands)	Fair Value as of March 31, 2026		Useful Life
Developed technology	$	36,000	7
Customer relationships	11,500		10
Trade names	8,500		15

Nevro’s results have been included in the Company’s financial statements for the period subsequent to the date of the acquisition on April 3, 2025. Nevro contributed revenues of $82.7 million for the three months ended March 31, 2026. Due to the continuing integration of Nevro’s operations into the Company, it is impractical to determine Nevro’s net income/(loss) during the current period, which is included in the Company’s net income.

Asset Acquisitions

During the third quarter of 2025, the Company entered into a license agreement to acquire software related to the imaging, navigation and robotics (“INR”) division for a total consideration of €8.0 million ($9.4 million). An initial payment of €4.0 million ($4.7 million) was made at closing and recorded as a developed technology intangible asset, with the remaining €4.0 million ($4.7 million) paid in the first quarter of 2026. The asset will be amortized over its estimated useful life of seven years.

During the first quarter of 2025, the Company entered into a license agreement for certain patents of medical device technology in the spine field for a total of $5.0 million due at closing, and 1 percent license fee on future sales of products developed and covered under the license agreement. The Company recorded $5.0 million of intangible assets, with a useful life of 10.1 years.

During the first quarter of 2024, the Company completed a share acquisition of a biotech company focused on research and development for hemostasis solutions. The fair value of the assets acquired are concentrated in a similar identified asset, in-process research and development (“IPR&D”) of the acquired technology, thus satisfying the requirements of the screen test in ASC Topic 805, Business Combinations. At the date of the acquisition, the Company determined that the development of the projects underway had not yet reached technological feasibility and that the research in process had no alternative future use. Accordingly, the acquired IPR&D of $12.6 million was charged to research and development expense in the condensed consolidated statements of operations and comprehensive income. The purchase price consisted of $12.0 million of cash paid at closing. The transaction also provides for $12.0 million of contingent consideration which is payable upon meeting the Good Manufacturing Process milestones, as promulgated by the U.S. Food and Drug Administration (the “FDA”), and consideration of $10.0 million contingent upon the developed products obtaining approval from the FDA. As of March 31, 2026, the milestones have not been met and as such, contingent consideration has not been recorded in this asset acquisition.

Other Business Combinations

During the first quarter of 2026, the Company completed one acquisition that was not material to the overall condensed consolidated financial statements during the periods presented. This acquisition has been included in the condensed consolidated financial statements from date of acquisition. The purchase price consisted of approximately $0.2 million of cash paid at closing and $3.9 million in contingent consideration payments, resulting in goodwill of $3.9 million and reacquired rights of $0.2 million based on the estimated fair value. The contingent payments for this acquisition are based upon achieving various performance milestones over a period of five years and are payable in cash.

Throughout 2024, the Company completed three acquisitions that were not material to the overall condensed consolidated financial statements during the periods presented. These acquisitions have been included in the condensed consolidated financial statements from their respective dates of acquisition. The purchase prices in aggregate consisted of approximately $0.7 million of cash paid at closing and $25.0 million in contingent consideration payments, resulting in goodwill of $24.0 million and reacquired rights of $1.8 million based on the estimated fair values. The contingent payments for these acquisitions are based upon achieving various performance milestones over a period of five and ten years and are payable in a combination of cash and restricted stock units (“RSUs”).

- Definition

The entire disclosure for business combination.

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+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

Mar. 31, 2026

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a)Basis of Presentation

The accompanying interim unaudited condensed consolidated financial statements have been prepared in conformity with U.S. GAAP for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in complete financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”). As such, the information included in this Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and accompanying footnotes included in our Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on February 24, 2026.

In the opinion of management, these condensed consolidated financial statements include all adjustments necessary, which are of a normal and recurring nature, for the fair presentation of our financial position as of March 31, 2026, and results of operations for the three months ended March 31, 2026. The results of operations for any interim period may not be indicative of results for the full year.

(b)Principles of Consolidation

The accompanying unaudited condensed consolidated financial statements include the accounts of Globus and its majority-owned or controlled subsidiaries. All intercompany balances and transactions are eliminated in consolidation.

Variable Interest Entities

We provide intraoperative neuromonitoring (“IONM”) services through various majority-owned or controlled subsidiaries, which collectively conduct business as NuVasive Clinical Services. In providing IONM services to surgeons and healthcare facilities across the U.S., the Company maintains contractual relationships with several physician practices (“PCs”). In accordance with authoritative guidance, the Company has determined that the PCs are variable interest entities and therefore, the accompanying condensed consolidated financial statements include the accounts of the PCs from the date of acquisition. During the periods presented, the results of the PCs were immaterial to the Company’s financial statements. The creditors of the PCs have claims only to the assets of the PCs, which are not material, and the assets of the PCs are not available to the Company.

(c)Use of Estimates

The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. We base our estimates, in part, on historical experience that management believes to be reasonable under the circumstances. Actual results could differ from those estimates. Estimates and assumptions are periodically reviewed, and the effects of revisions are reflected in the condensed consolidated financial statements in the period they are determined to be necessary.

Significant areas that require estimates include revenue recognition, intangible assets, business acquisition liabilities, allowance for expected credit losses, stock-based compensation, reserves for excess and obsolete inventory, fair value measurements, useful lives of assets, the outcome of litigation, recoverability of intangible assets and income taxes. We are subject to risks and uncertainties due to changes in the healthcare environment, regulatory oversight, competition, and legislation that may cause actual results to differ materially from estimated results.

(d)Revenue Recognition

In accordance with Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”), the Company recognizes revenue upon the transfer of goods or services to a customer at an amount that reflects the expected consideration to be received in exchange for those goods or services. The principles in ASC 606 are applied using the following five steps: (i) identify the contract with a customer; (ii) identify the performance obligation(s) in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligation(s) in the contract; and (v) recognize revenue when (or as) the Company satisfies its performance obligation(s). Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. Sales and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. For purposes of disclosure, we disaggregate our revenue into two categories: Musculoskeletal Solutions and Enabling Technologies.

Our Musculoskeletal Solutions products consist primarily of implantable devices, disposables, unique instruments, and neuromonitoring services, used in an expansive range of spine, orthopedic trauma, hip, knee and extremity procedures. The majority of our Musculoskeletal Solutions contracts have a single performance obligation and revenue is recognized at a point in time. For our neuromonitoring services, revenue is recognized in the period the service is performed, which can be either at a point in time or over time, depending on how the performance obligation is defined for the amount of consideration expected to be received.

Our Enabling Technologies products are advanced hardware and software systems and related technologies that are designed to enhance a surgeon’s capabilities and streamline surgical procedures by making them less invasive, more accurate, and more reproducible to improve patient care. The majority of our Enabling Technologies product contracts contain multiple performance obligations, including maintenance and support, and revenue is recognized as we fulfill each performance obligation, generally at the point in time in which the obligation is fulfilled. When a contract has multiple performance obligations, we allocate the contract’s transaction price to each performance obligation using our best estimate of the standalone selling price of each distinct good or service in the contract.

Revenue associated with products holding rights of return or trade-in are recognized when the Company concludes there is not a risk of significant revenue reversal in future periods for the expected consideration in the transaction. Our policy is to classify shipping and handling costs billed to customers as sales and the related expenses as cost of sales.

Contract Balances

Timing of revenue recognition may differ from the timing of invoicing to customers. We record a receivable when revenue is recognized prior to invoicing, or deferred revenue when revenue is recognized subsequent to invoicing.

Deferred revenue is comprised mainly of unearned revenue related to the sales of certain Enabling Technologies products, which include maintenance and support services. Maintenance and support services are generally invoiced annually, at the beginning of each contract period, and revenue is recognized ratably over the maintenance period.

Our contract liabilities of $34.9 million and $36.9 million as of March 31, 2026 and December 31, 2025, respectively, are classified within deferred revenue and other liabilities on our condensed consolidated balance sheet based on the timing of when we expect to complete performance obligations.

The changes to contract liabilities related to deferred revenue for the quarter are as follows:


(In thousands)	Three Months Ended March 31, 2026
Beginning contract liabilities	$	36,914
Revenue recognized from contract liabilities	(9,777)
Advance consideration received during the period	7,760
Ending contract liabilities	$	34,897

(e)Marketable Securities

Our marketable securities include municipal bonds, corporate debt securities, commercial paper, asset-backed securities, securities of government, federal agency, and other sovereign obligations and are classified as available-for-sale as of March 31, 2026. Short-term and long-term marketable securities are recorded at fair value on our condensed consolidated balance sheets. Any change in fair value of our available-for-sale securities, which does not result in recognition or reversal of an allowance for credit loss or write-down, is recorded, net of taxes, as a component of accumulated other comprehensive income or loss on our condensed consolidated balance sheets. Premiums and discounts are recognized over the life of the related security as an adjustment to yield using the straight-line method. Realized gains or losses from the sale of marketable securities are determined on a specific identification basis. Realized gains and losses, interest income and the amortization/accretion of premiums/discounts are included as a component of other income/(expense), net, on our condensed consolidated statements of operations and comprehensive income. Interest receivable is recorded as a component of prepaid expenses and other current assets on our condensed consolidated balance sheets.

We invest in securities that meet or exceed standards as defined in our investment policy. Our policy also limits the amount of credit exposure to any one issue, issuer or type of security. We review declines in the fair value of our securities to determine whether they are resulting from expected credit losses or other factors. If the assessment indicates a credit loss exists, we recognize any measured impairment as an allowance for credit loss in our condensed consolidated statements of operations. Any other impairments not recorded through allowance for credit losses is recognized in our other comprehensive income. No impairments were identified resulting from expected credit losses during the three months ended March 31, 2026.

(f)Goodwill and Intangible Assets

Goodwill represents the excess of purchase price over the fair values of the identifiable assets acquired less the liabilities assumed in the acquisition of a business. Goodwill is tested for impairment at least annually or whenever events or circumstances indicate that a carrying amount may not be recoverable. Goodwill is tested for impairment at the reporting unit level by comparing the reporting unit’s carrying amount to the estimated fair value of the reporting unit. Fair values are estimated using an income and discounted cash flow approach. We perform our annual impairment test of goodwill in the fourth quarter of each year. We consider a qualitative assessment when the results of the previous quantitative test indicated the reporting unit’s estimated fair value was significantly in excess of the carrying value of its net assets, and we do not believe there have been significant changes in the reporting unit’s operations that would significantly decrease its estimated fair value or significantly increase its net assets. If a quantitative assessment is performed, the evaluation includes management estimates of discounted cash flow projections based on internal future projections and/or use of a market approach by looking at market values of comparable companies.

Intangible assets consist of purchased developed technology, customer relationships, trade names, reacquired right and patents. Intangible assets with finite useful lives are amortized over the period of estimated benefit using the straight-line method and estimated useful lives ranging from 1 to 21 years. Intangible assets with finite useful lives are tested whenever events or circumstances indicate that a carrying amount of an asset (asset group) may not be recoverable. If an impairment is indicated, we measure the amount of the impairment loss as the amount by which the carrying amount exceeds the fair value of the asset. Fair value is generally determined using a discounted future cash flow analysis.

During the three months ended March 31, 2026, there were no impairments in goodwill or finite-lived intangible assets.

(g) Derivative Financial Instruments

The Company recognizes all derivative instruments as assets or liabilities in its unaudited condensed consolidated balance sheets and measures these instruments at fair value by revaluing these assets and liabilities at the end of each reporting period. Gains and losses are

recorded as a component of other expense, net in the unaudited condensed consolidated statements of operations and comprehensive income. The effects of these derivative instruments are immaterial to the Company’s financial statements.

(h)Accounts Receivable and Related Valuation Accounts

Accounts receivable in the accompanying unaudited condensed consolidated balance sheets are presented net of allowances for expected credit losses. We maintain an allowance for expected credit losses resulting from the inability of its customers, including hospitals, ambulatory surgery centers, and distributors, to make required payments.

The allowance for credit losses is calculated quarterly and is estimated on a region-by-region basis considering a number of factors including age of account balances, collection history, historical account write-offs, third-party credit reports, identified trends, current economic conditions, and supportable forecasted economic expectations. The allowance is adjusted on a specific identification basis for certain accounts as well as pooling of accounts with similar characteristics. An increase in the provision for credit losses may be required when the financial condition of our customers or their collection experience deteriorates. Our exposure to credit losses may also increase if our customers are adversely affected by changes in healthcare laws, coverage and reimbursement, macroeconomic pressures or uncertainty associated with local or global economic recessions, disruption associated with pandemics, or other customer-specific factors.

(i)Recently Issued Accounting Pronouncements

In December 2025, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2025-11 Interim Reporting (Topic 270). ASU No. 2025-11 clarifies interim disclosure requirements and the applicability of Topic 270. The objective of the amendments is to provide clarity about the current requirements, rather than evaluate whether to expand or reduce interim disclosure requirements. This ASU clarifies types of interim reporting and the form and content of interim financial statements in accordance with U.S. GAAP. ASU 2025-11 is effective for fiscal years beginning after December 15, 2027, and early adoption is permitted. Entities may apply the guidance prospectively or retrospectively. The Company is currently evaluating the impact the standard will have on its interim consolidated financial statements and related disclosures.

In September 2025, the FASB issued ASU No. 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. ASU No. 2025-06 simplifies the accounting for internal-use software costs by eliminating stage-based guidance and requiring deferral of capitalization when significant development uncertainty exists. ASU No. 2025-06 is effective for fiscal years beginning after December 15, 2027, and early adoption is permitted. Entities may apply the guidance prospectively, retrospectively, or using a modified retrospective approach. The Company is currently evaluating the impact the standard will have on its consolidated financial statements and related disclosures.

In January 2025, the FASB issued ASU No. 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40). ASU No. 2025-01 amends the effective date of ASU No. 2024-03 to clarify the initial effective date for entities that do not have an annual reporting period that ends on December 31, referred to as non-calendar year end entities. All public business entities are required to adopt the guidance in annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027, and early adoption is permitted. The amendments should be applied prospectively, with retrospective applications also permitted. Additionally, in December 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40). The update improves financial reporting by requiring that public business entities disclose additional information about certain costs and expenses categories: (a) purchases of inventory, (b) employee compensation, (c) depreciation, (d) intangible asset amortization, and (e) depreciation, depletion, and amortization in the notes to financial statements at interim and annual reporting periods. This update is effective for fiscal years beginning after December 15, 2026, and early adoption is permitted. The amendments should be applied prospectively, with retrospective applications also permitted. The Company is currently evaluating the impact the standard will have on its consolidated financial statements and related disclosures.

(j)Recently Adopted Accounting Pronouncements

In July 2025, the FASB issued ASU No. 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. ASU No. 2025‑05 provides a practical expedient that allows entities to estimate expected credit losses on certain trade receivables and contract assets by assuming that current economic conditions will remain unchanged over the life of the asset. The expedient applies only to assets with contractual lives of one year or less. The Company adopted ASU No. 2025-05 as of January 1, 2026, and amendments were applied prospectively. The adoption did not have any material impact on the Company’s consolidated financial statements.

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740), Improvements to Income Tax Disclosures, to enhance the transparency and decision-making utility of income tax disclosures. The enhancement will provide information to better assess how an entity’s operations and related tax risks and tax planning and operational opportunities affect its tax rate and prospects for future cash flows. Investors currently rely on the rate reconciliation table and other disclosures, including total income taxes paid, to evaluate income tax risks and opportunities. The Company adopted ASU No. 2023-09 as of January 1, 2025, and amendments were applied prospectively.

COMMITMENTS AND CONTINGENCIES (Details)	Nov. 04, 2025 USD ($)	Apr. 25, 2023 patent	Nov. 20, 2019 patent	Apr. 03, 2018 USD ($)	Apr. 02, 2018 USD ($)	Mar. 31, 2026 USD ($)	Dec. 31, 2025 USD ($)
Moskowitz Family LLC Litigation
Loss Contingencies [Line Items]
Number of patents allegedly infringed \| patent			6
Estimated litigation liability						$ 0
Pimenta Litigation
Loss Contingencies [Line Items]
Estimated litigation liability							$ 43,100,000
Damages sought by other party				$ 82,000,000	$ 97,000,000
Damages awarded to other party	$ 28,700,000
4WEB LLC Litigation
Loss Contingencies [Line Items]
Number of patents allegedly infringed \| patent		11
Estimated litigation liability						$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Payables and Accruals [Abstract]
Compensation and other employee-related costs	$ 146,302	$ 167,105
Legal and other settlements and expenses	50,660	51,875
Accrued non-income taxes	29,138	29,240
Royalties	16,908	11,632
Rebates	47,694	47,503
Other	22,729	26,231
Accrued expenses	$ 313,431	$ 333,586

STOCK-BASED AWARDS - Schedule of Fair Value of Options Using Black Scholes Option Pricing Model (Details)	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk-free interest rate, minimum	3.72%	4.09%
Risk-free interest rate, maximum	3.87%	4.52%
Expected volatility	37.00%
Expected dividend yield	0.00%	0.00%
Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (years)	5 years	4 years 10 months 24 days
Expected volatility		34.00%
Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (years)	5 years 6 months	9 years 1 month 6 days
Expected volatility		37.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

RESTRUCTURING AND OTHER COSTS - Schedule of Activity Related to Restructuring Program (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
2024 Synergy Plan
Restructuring Reserve [Roll Forward]
Beginning Balance	$ 61	$ 2,747
Net charges	1,594	154
Cash Payments	(419)	(1,525)
Settled non-cash	(3)	(154)
Ending Balance	1,233	1,222
2025 Strategic Integration Plan
Restructuring Reserve [Roll Forward]
Beginning Balance	581	0
Net charges	3,621	0
Cash Payments	(1,795)	0
Foreign currency impact	(10)	0
Ending Balance	$ 2,397	$ 0

- Definition

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References + Details

ASSET ACQUISITIONS AND BUSINESS COMBINATIONS - Schedule of Estimated Fair Value of Identifiable Assets Acquired (Details) - Nevro Merger Agreement $ in Thousands	3 Months Ended
	Mar. 31, 2026 USD ($)
Developed technology
Business Combination [Line Items]
Fair value	$ 36,000
Useful Life	7 years
Customer relationships
Business Combination [Line Items]
Fair value	$ 11,500
Useful Life	10 years
Trade names
Business Combination [Line Items]
Fair value	$ 8,500
Useful Life	15 years

- Definition

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+ Details

PROPERTY AND EQUIPMENT

3 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

Property and equipment included the following as of March 31, 2026 and December 31, 2025, respectively:


(In thousands)	Useful Life	March 31,		December 31,
	(in years)	2026		2025
Land	—	$	10,830	$	10,849
Buildings and improvements	31.5	127,833		127,573
Equipment	5-15	258,963		258,475
Instruments, modules, and cases	5	834,615		813,488
Other property and equipment	3-5	72,480		59,067
		1,304,721		1,269,452
Less: accumulated depreciation and amortization		(747,582)		(705,000)
Total		$	557,139	$	564,452

Instruments are hand-held devices used by surgeons to install implants during surgery. Modules and cases are used to store and transport the instruments and implants.

Depreciation expense related to property and equipment was as follows during the three months ended March 31, 2026 and 2025, respectively:


	Three Months Ended March 31,
(In thousands)	2026		2025
Depreciation	$	40,595	$	37,272

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2026 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Terminated	false
Keith W. Pfeil Terminated Plan [Member] \| Keith W. Pfeil [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On February 27, 2026, Keith W. Pfeil, the Company’s Chief Executive Officer and President, terminated a trading plan intended to satisfy the conditions under Rule 10b5-1(c) of the Exchange Act. Mr. Pfeil’s Rule 10b5-1 trading plan had a term ending upon the earlier of (i) March 15, 2026 or (ii) the sale of all shares subject to the plan which was 165,625 shares of Class A Common pursuant to the terms of the plan.
Name	Keith W. Pfeil
Title	Chief Executive Officer and President
Rule 10b5-1 Arrangement Terminated	true
Termination Date	February 27, 2026
Aggregate Available	165,625
Keith W. Pfeil Adopted Plan [Member] \| Keith W. Pfeil [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On March 13, 2026, Keith W. Pfeil, the Company’s Chief Executive Officer and President, adopted a trading plan intended to satisfy the conditions under Rule 10b5-1(c) of the Exchange Act. Mr. Pfeil’s Rule 10b5-1 trading plan has a term ending upon the earlier of (i) June 12, 2027 or (ii) the sale of all shares subject to the plan and provides for the sale of up to 90,000 shares of Class A Common pursuant to the terms of the plan.
Name	Keith W. Pfeil
Title	Chief Executive Officer and President
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	March 13, 2026
Expiration Date	June 12, 2027
Arrangement Duration	456 days
Aggregate Available	90,000

MARKETABLE SECURITIES (Tables)

3 Months Ended

Mar. 31, 2026

Marketable Securities [Abstract]

Composition of Marketable Securities

The composition of our short-term and long-term marketable securities as of March 31, 2026 and December 31, 2025 were as follows:


	March 31, 2026
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Short-term:
Municipal bonds	$	8,670	$	—	$	(3)	$	8,667
Corporate debt securities	5,572		—		(5)		5,567
Commercial paper	49,350		—		(33)		49,317
Government, federal agency, and other sovereign obligations	5,349		2		(1)		5,350
Total short-term marketable securities	$	68,941	$	2	$	(42)	$	68,901

Long-term:
Municipal bonds	$	3,600	$	1	$	(6)	$	3,595
Corporate debt securities	76,858		—		(451)		76,407
Asset-backed securities	60,519		2		(236)		60,285
Government, federal agency, and other sovereign obligations	29,243		6		(99)		29,150
Total long-term marketable securities	$	170,220	$	9	$	(792)	$	169,437


	December 31, 2025
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Short-term:
Municipal bonds	$	5,943	$	4	$	—	$	5,947
Corporate debt securities	4,180		1		—		4,181
Commercial paper	15,622		5		—		15,627
Government, federal agency, and other sovereign obligations	5,323		9		—		5,332
Total short-term marketable securities	$	31,068	$	19	$	—	$	31,087

Long-term:
Municipal bonds	$	3,600	$	9	$	—	$	3,609
Corporate debt securities	33,187		61		(2)		33,246
Asset-backed securities	19,151		31		(4)		19,178
Government, federal agency, and other sovereign obligations	15,742		44		—		15,786
Total long-term marketable securities	$	71,680	$	145	$	(6)	$	71,819

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2026	Dec. 31, 2025
Summary Of Significant Accounting Policies [Line Items]
Contract liabilities	$ 34,897,000	$ 36,914,000
Marketable securities, impairment loss	0
Goodwill impairment	0
Impairment of finite-lived intangible assets	$ 0
Minimum
Summary Of Significant Accounting Policies [Line Items]
Intangible assets, estimated useful lives	1 year
Maximum
Summary Of Significant Accounting Policies [Line Items]
Intangible assets, estimated useful lives	21 years

- Definition

Amount of impairment loss from asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References + Details

ACCRUED EXPENSES (Tables)

3 Months Ended

Mar. 31, 2026

Payables and Accruals [Abstract]

Schedule of Accrued Expenses

Accrued expenses as of March 31, 2026 and December 31, 2025, respectively, included the following:


(In thousands)	March 31, 2026		December 31, 2025
Compensation and other employee-related costs	$	146,302	$	167,105
Legal and other settlements and expenses	50,660		51,875
Accrued non-income taxes	29,138		29,240
Royalties	16,908		11,632
Rebates	47,694		47,503
Other	22,729		26,231
Total accrued expenses	$	313,431	$	333,586

LEASES (Tables)

3 Months Ended

Mar. 31, 2026

Leases [Abstract]

Schedule of Amount Reported in Condensed Consolidated Balance Sheet

Amounts reported in the condensed consolidated balance sheet were as follows as of March 31, 2026 and December 31, 2025, respectively:


	March 31,		December 31,
(In thousands)	2026		2025
Asset:
Operating lease right-of-use asset	$	61,507	$	63,786
Finance lease right-of-use asset	697		718
Total leased assets	$	62,204	$	64,504

Liabilities:
Current:
Operating lease liability	15,121		14,738
Finance lease liability	320		348
Long-term:
Operating lease liability	100,102		103,918
Finance lease liability	398		436
Total lease liabilities	$	115,941	$	119,440

Schedule of Lease Expense

The table below summarizes the Company’s lease costs arising from the operating and financing lease obligations for the three months ended March 31, 2026 and 2025, respectively:


	Three Months Ended March 31,
(In thousands)	2026		2025
Lease expense:
Operating lease expense	$	5,945	$	3,570
Finance lease expense
Depreciation of right-of-use asset	94		65
Interest expense on lease liabilities	12		13
Total lease expense	$	6,051	$	3,648

Schedule of Future Minimum Lease Payments, Operating

Future minimum lease payments under non-cancellable leases as of March 31, 2026, are as follows:


(In thousands)	Finance Leases		Operating Leases
2026	$	294	$	17,347
2027	287		21,020
2028	168		18,519
2029	52		18,172
2030	—		17,953
Thereafter	—		57,976
Total minimum lease payments	$	801	$	150,987
Less: amount representing interest	(83)		(35,764)
Present value of obligations under leases	718		115,223
Less: current portion	(320)		(15,121)
Long-term lease obligations	$	398	$	100,102

Schedule of Future Minimum Lease Payments, Finance

Future minimum lease payments under non-cancellable leases as of March 31, 2026, are as follows:


(In thousands)	Finance Leases		Operating Leases
2026	$	294	$	17,347
2027	287		21,020
2028	168		18,519
2029	52		18,172
2030	—		17,953
Thereafter	—		57,976
Total minimum lease payments	$	801	$	150,987
Less: amount representing interest	(83)		(35,764)
Present value of obligations under leases	718		115,223
Less: current portion	(320)		(15,121)
Long-term lease obligations	$	398	$	100,102

Schedule of Supplemental Cash Flow Information

The table below summarizes the Company’s supplemental cash flow information and assumptions used for the three months ended March 31, 2026 and 2025, respectively:


	Three Months Ended March 31,
(In thousands, except weighted average lease term and discount rate)	2026			2025
Other supplemental cash flow information:
Cash paid for amounts included in measurement of lease liabilities
Operating cash flows from operating leases	$	6,066		$	5,623
Operating cash flows for finance leases	12			13
Financing cash flows for finance leases	88			57
Total cash paid for amounts included in the measurement of lease liabilities	$	6,165		$	5,693

Right-of-use assets obtained in exchange for lease obligations
Operating leases	$	774		$	820
Financing leases	$	274		$	—
Weighted-average remaining lease term
Operating leases	7.4			7.5
Financing leases	3.5			2.4
Weighted-average discount rate
Operating leases	6.9		%	5.3		%
Financing leases	6.0		%	5.8		%

STOCK-BASED AWARDS (Tables)

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

Stock option activity during the three months ended March 31, 2026 is summarized as follows:


	Option Shares (thousands)	Weighted average exercise price		Weighted average remaining contractual life (years)	Aggregate intrinsic value (thousands)
Outstanding at December 31, 2025	10,579	$	61.11
Granted	1,462	93.71
Exercised	(515)	50.65
Forfeited	(226)	73.51
Outstanding at March 31, 2026	11,300	65.55		6.8	$	250,916
Exercisable at March 31, 2026	6,507	58.14		5.3	185,057
Expected to vest at March 31, 2026	4,793	$	75.61	8.8	$	65,859

Schedule of Fair Value of Options Using Black Scholes Option Pricing Model

The fair value of the options was estimated on the date of the grant using a Black-Scholes option pricing model with the following assumptions:


	Three Months Ended March 31,
	2026			2025
Risk-free interest rate	3.72%	-	3.87%	4.09%	-	4.52%
Expected term (years)	5.0	-	5.5	4.9	-	9.1
Expected volatility	37.0%			34.0%	-	37.0%
Expected dividend yield	—%			—%

Schedule of Restricted Stock Unit Activity

RSU activity during the three months ended March 31, 2026 is summarized as follows:


	Restricted Stock Units (thousands)	Weighted average grant date fair value per share		Weighted average remaining contractual life (years)
Outstanding at December 31, 2025	303	$	59.56
Granted	4	91.57
Vested	(130)	54.10
Forfeited	(1)	54.10
Outstanding at March 31, 2026	176	$	64.36	4.7

Schedule of Performance-Based Restricted Stock Unit Activity

PRSU activity during the three months ended March 31, 2026 is summarized as follows:


	Performance-Based Restricted Stock Units (thousands)	Weighted average grant date fair value per share		Weighted average remaining contractual life (years)
Outstanding at December 31, 2025	12	$	62.15
Granted	—	—
Vested	(2)	54.10
Forfeited	(1)	54.10
Outstanding at March 31, 2026	9	$	64.89	1.5

Schedule of Stock-based Compensation Schedule

Compensation expense related to stock options granted to employees and non-employees under the Plans during the three months ended March 31, 2026 and 2025, respectively, was as follows:


	Three Months Ended March 31,
(In thousands)	2026		2025
Stock-based compensation expense	$	12,617	$	13,206
Net stock-based compensation capitalized into inventory	171		118
Total stock-based compensation cost	$	12,788	$	13,324

EQUITY (Tables)

3 Months Ended

Mar. 31, 2026

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The tables below present the changes in each component of accumulated other comprehensive income/(loss), including current period other comprehensive income/(loss) and reclassifications out of accumulated other comprehensive income/(loss) for the three months ended March 31, 2026 and 2025, respectively:


(In thousands)	Unrealized loss on marketable securities, net of tax		Foreign currency translation adjustments		Accumulated other comprehensive loss
Accumulated other comprehensive income/(loss), net of tax, at December 31, 2025	$	131	$	15,215	$	15,346
Other comprehensive income/(loss) before reclassifications	(981)		218		(763)
Amounts reclassified from accumulated other comprehensive income/(loss), net of tax	(179)		—		(179)
Other comprehensive income/(loss), net of tax	(1,160)		218		(942)
Accumulated other comprehensive income/(loss), net of tax, at March 31, 2026	$	(1,029)	$	15,433	$	14,404


(In thousands)	Unrealized loss on marketable securities, net of tax		Foreign currency translation adjustments		Accumulated other comprehensive loss
Accumulated other comprehensive income/(loss), net of tax, at December 31, 2024	$	(317)	$	(6,544)	$	(6,861)
Other comprehensive income/(loss) before reclassifications	416		4,379		4,795
Amounts reclassified from accumulated other comprehensive income/(loss), net of tax	(101)		—		(101)
Other comprehensive income/(loss), net of tax	315		4,379		4,694
Accumulated other comprehensive income/(loss), net of tax, at March 31, 2025	$	(2)	$	(2,165)	$	(2,167)

Schedule of Computation of Basic and Diluted Earnings

The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, 2026 and 2025, respectively:


	Three Months Ended March 31,
(In thousands, except per share amounts)	2026		2025
Numerator:
Net income/(loss) for basic	$	124,301	$	75,462
Denominator for basic and diluted net income per share:
Weighted average shares outstanding for basic	135,364		136,757
Dilutive stock options, RSUs, and PRSUs	2,826		3,017
Weighted average shares outstanding for diluted	138,191		139,774
Earnings per share:
Basic	$	0.92	$	0.55
Diluted	$	0.90	$	0.54

Anti-dilutive stock options and RSUs excluded from the calculation	3,194		3,049
Anti-dilutive warrants excluded from the calculation	—		3,618
Total	$	3,194	$	6,667

LEASES - Narrative (Details)	3 Months Ended
LEASES - Narrative (Details)	Mar. 31, 2026
Lessee, Lease, Description [Line Items]
Lease term that are not recognized as right of use assets or lease liabilities	12 months
Minimum
Lessee, Lease, Description [Line Items]
Initial lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Initial lease term	17 years

NET SALES

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

NET SALES

The following table represents net sales by product category for the three months ended March 31, 2026 and 2025, respectively:


	Three Months Ended March 31,
(In thousands)	2026		2025
Musculoskeletal Solutions	$	732,984	$	575,932
Enabling Technologies	26,870		22,189
Total net sales	$	759,854	$	598,121

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/606/tableOfContent

+ Details

INVENTORIES (Tables)

3 Months Ended

Mar. 31, 2026

Inventory Disclosure [Abstract]

Schedule of Inventory

Inventories included the following as of March 31, 2026 and December 31, 2025, respectively:


(In thousands)	March 31, 2026		December 31, 2025
Raw materials	$	163,831	$	162,247
Work in process	69,687		64,462
Finished goods	539,084		532,568
Total inventories	$	772,602	$	759,277

SEGMENT AND GEOGRAPHIC INFORMATION (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Schedule of Total Segment Revenue, Significant Segments Expenses and Other Expenses

The following table represents total segment revenue, significant segments expenses and other expenses for the three months ended March 31, 2026 and 2025, respectively:


	Three Months Ended March 31,
(in thousands)	2026		2025
Net sales	$	759,854	$	598,121

Cost of Sales and Operating expenses:
Cost of sales	(202,990)		(166,374)
Amortization of inventory fair value step-up (a)	—		(49)
Depreciation related to cost of sales	(31,077)		(28,973)
Research and development employee-related cost	(27,337)		(25,432)
Research and development other (b)	(9,173)		(7,631)
Selling, general and administrative employee-related cost	(226,900)		(188,981)
Selling, general and administrative other (c)	(58,434)		(45,624)
Provision for litigation	(134)		1,286
Acquisition-related costs	(6,377)		(1,057)
Amortization of intangibles	(29,526)		(28,802)
Other segment expenses (d)	(15,271)		(8,767)

Operating income/(Loss)	152,635		97,717

Interest income/(expense), net	5,434		1,681
Foreign currency transactional gain/(loss)	(2,113)		4,270
Bargain purchase gain	1,118		—

Income/(loss) before income taxes	$	157,074	$	103,668

(a)Amounts primarily related to inventory step up associated with the NuVasive Merger and Nevro Merger.

(b)Amounts include IPR&D and other non-employee related costs.

(c)Amounts include non-employee related costs including taxes and fees.

(d)Amounts primarily include restructuring expense and credit losses.

Schedule of Total Net Sales by Geographical Area

The following table represents total net sales by geographic area, based on the location of the customer for the three months ended March 31, 2026 and 2025, respectively:


	Net Sales
	Three Months Ended March 31,
(In thousands)	2026		2025
United States	$	604,888	$	483,857
International	154,966		114,264
Total	$	759,854	$	598,121

ASSET ACQUISITIONS AND BUSINESS COMBINATIONS - Schedule of Aggregate Consideration of Merger (Details) - Nevro Merger Agreement $ / shares in Units, $ in Thousands	Apr. 03, 2025 USD ($) $ / shares shares
Business Combination [Line Items]
Nevro shares outstanding as of April 3, 2025 \| shares	38,383
Price paid per share (in USD per share) \| $ / shares	$ 5.85
Total consideration paid for outstanding common stock of Nevro	$ 224,538
Repayment of Nevro’s term loans, warrants, and other transaction costs	18,515
Fair value of cash settled equity awards	9,493
Total purchase price	$ 252,546

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

NET SALES (Tables)

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Schedule of Net Sales by Product Category

The following table represents net sales by product category for the three months ended March 31, 2026 and 2025, respectively:


	Three Months Ended March 31,
(In thousands)	2026		2025
Musculoskeletal Solutions	$	732,984	$	575,932
Enabling Technologies	26,870		22,189
Total net sales	$	759,854	$	598,121

GOODWILL AND INTANGIBLE ASSETS - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Annual ‎Amortization
2026	$ 88,261
2027	116,385
2028	112,978
2029	112,659
Thereafter	290,562
Intangible ‎Assets, ‎net	$ 720,845	$ 745,064

EQUITY - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 4,573,250	$ 4,177,333
Other comprehensive income/(loss) before reclassifications	(763)
Amounts reclassified from accumulated other comprehensive income/(loss), net of tax	(179)	(101)
Total other comprehensive income/(loss), net of tax	(942)	4,694
Ending balance	4,732,312	4,088,068
Accumulated other comprehensive loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	15,346	(6,861)
Other comprehensive income/(loss) before reclassifications		4,795
Ending balance	14,404	(2,167)
Unrealized loss on marketable securities, net of tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	131	(317)
Other comprehensive income/(loss) before reclassifications	(981)	416
Amounts reclassified from accumulated other comprehensive income/(loss), net of tax	(179)	(101)
Total other comprehensive income/(loss), net of tax	(1,160)	315
Ending balance	(1,029)	(2)
Foreign currency translation adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	15,215	(6,544)
Other comprehensive income/(loss) before reclassifications	218	4,379
Amounts reclassified from accumulated other comprehensive income/(loss), net of tax	0	0
Total other comprehensive income/(loss), net of tax	218	4,379
Ending balance	$ 15,433	$ (2,165)

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

SEGMENT AND GEOGRAPHIC INFORMATION

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

SEGMENT AND GEOGRAPHIC INFORMATION

Operating segments are defined as components of an enterprise for which separate financial information is available that are evaluated regularly by the Chief Operating Decision Maker (the “CODM”) in deciding how to allocate resources and in assessing performance. Generally, financial information is required to be reported on the basis that it is used internally for evaluating segment performance and deciding how to allocate resources to segments. Keith W. Pfeil, Chief Executive Officer, is identified as the CODM who determines resource allocation, investing activities, and performance assessment as of March 31, 2026. The CODM uses revenue, gross profit and operating income to assess financial performance of the segments and make key operating decisions. Our CODM does not evaluate operating segments using asset or liability information.

The Company identified two operating segments, Musculoskeletal Solutions and Enabling Technologies, based on the overall management structure and business strategy. The Company aggregates these operating segments into one reportable segment, based on conclusions reached after considering relevant factors such as economic similarity, customer base, regulatory environment, production processes, nature of services and products provided, and our comprehensive approach to product development and offerings targeting patient needs through procedural-based solutions.

The following table represents total segment revenue, significant segments expenses and other expenses for the three months ended March 31, 2026 and 2025, respectively:


	Three Months Ended March 31,
(in thousands)	2026		2025
Net sales	$	759,854	$	598,121

Cost of Sales and Operating expenses:
Cost of sales	(202,990)		(166,374)
Amortization of inventory fair value step-up (a)	—		(49)
Depreciation related to cost of sales	(31,077)		(28,973)
Research and development employee-related cost	(27,337)		(25,432)
Research and development other (b)	(9,173)		(7,631)
Selling, general and administrative employee-related cost	(226,900)		(188,981)
Selling, general and administrative other (c)	(58,434)		(45,624)
Provision for litigation	(134)		1,286
Acquisition-related costs	(6,377)		(1,057)
Amortization of intangibles	(29,526)		(28,802)
Other segment expenses (d)	(15,271)		(8,767)

Operating income/(Loss)	152,635		97,717

Interest income/(expense), net	5,434		1,681
Foreign currency transactional gain/(loss)	(2,113)		4,270
Bargain purchase gain	1,118		—

Income/(loss) before income taxes	$	157,074	$	103,668

(a)Amounts primarily related to inventory step up associated with the NuVasive Merger and Nevro Merger.

(b)Amounts include IPR&D and other non-employee related costs.

(c)Amounts include non-employee related costs including taxes and fees.

(d)Amounts primarily include restructuring expense and credit losses.

The following table represents total net sales by geographic area, based on the location of the customer for the three months ended March 31, 2026 and 2025, respectively:


	Net Sales
	Three Months Ended March 31,
(In thousands)	2026		2025
United States	$	604,888	$	483,857
International	154,966		114,264
Total	$	759,854	$	598,121

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

RESTRUCTURING AND OTHER COSTS (Tables)

3 Months Ended

Mar. 31, 2026

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Activity

The following table provides a summary of the recognized pre-tax costs for the three months ended March 31, 2026 and 2025, respectively:


	Three Months Ended March 31,
(In thousands)	2026		2025
Research and Development	—		96
Selling, General and Administrative	3		58
Restructuring Costs	1,591		—
Total restructuring and other costs	$	1,594	$	154

The following table provides a summary of activity related to the restructuring program for the three months ended March 31, 2026 and 2025, respectively:


	Three Months Ended March 31,
(In thousands)	2026		2025
Beginning Balance	$	61	$	2,747
Net Charges	1,594		154
Cash Payments	(419)		(1,525)
Settled non-cash (a)	(3)		(154)
Ending Balance	$	1,233	$	1,222

(a)Represents share-based compensation settled without cash payments.

The following table provides a summary of the recognized pre-tax costs for the three months ended March 31, 2026 and 2025, respectively:


	Three Months Ended March 31,
(In thousands)	2026		2025
Restructuring Costs	$	3,621	$	—

The following table provides a summary of activity related to the restructuring program for the three months ended March 31, 2026 and 2025, respectively:


	Three Months Ended March 31,
(In thousands)	2026		2025
Beginning Balance	$	581	$	—
Net charges	3,621		—
Cash Payments	(1,795)		—
Foreign currency impact	(10)		—
Ending Balance	$	2,397	$	—

DEBT (Details)		1 Months Ended	3 Months Ended
DEBT (Details)	Mar. 15, 2025 USD ($)	Sep. 30, 2023 USD ($)	Mar. 31, 2026 USD ($)	Mar. 31, 2025 USD ($)	Sep. 01, 2023 USD ($)
Revolving Credit Facility \| Minimum \| Base Rate
Debt Instrument [Line Items]
Credit facility, basis spread on variable rate		0.125%
Revolving Credit Facility \| Minimum \| SOFR
Debt Instrument [Line Items]
Credit facility, basis spread on variable rate		1.125%
Revolving Credit Facility \| Maximum \| Base Rate
Debt Instrument [Line Items]
Credit facility, basis spread on variable rate		0.625%
Revolving Credit Facility \| Maximum \| SOFR
Debt Instrument [Line Items]
Credit facility, basis spread on variable rate		1.625%
Convertible Debt \| Senior Convertible Notes due 2025
Debt Instrument [Line Items]
Stated interest rate					0.375%
Aggregate principal amount					$ 450,000,000.0
Repayment of senior convertible notes	$ 450,000,000.0
Long-term debt outstanding			$ 0
Interest expense recognized			0	$ 6,900,000
Citizens Bank \| Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		$ 400,000,000.0
Line of credit facility, termination date		Sep. 27, 2028
Credit facility, amount of possible increase		$ 200,000,000
Leverage ratio		0.25
Outstanding borrowings			$ 0

ASSET ACQUISITIONS AND BUSINESS COMBINATIONS - Narrative - Business Combinations (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2026 USD ($) acquisition	Dec. 31, 2024 USD ($) acquisition	Dec. 31, 2025 USD ($)
Business Combination [Line Items]
Contingent consideration liability	$ 100,318		$ 101,508
Goodwill	$ 1,438,733	$ 1,432,387	$ 1,435,033
Series of Individually Immaterial Business Combinations
Business Combination [Line Items]
Number of acquisitions \| acquisition	1	3
Purchase price	$ 200	$ 700
Contingent consideration liability	3,900	25,000
Goodwill	3,900	24,000
Intangible assets acquired	$ 200	$ 1,800
Contingent payments, performance period	5 years
Series of Individually Immaterial Business Combinations \| Minimum
Business Combination [Line Items]
Contingent payments, performance period		5 years
Series of Individually Immaterial Business Combinations \| Maximum
Business Combination [Line Items]
Contingent payments, performance period		10 years

DEBT	3 Months Ended
DEBT	Mar. 31, 2026
Debt Disclosure [Abstract]
DEBT	DEBT Line of Credit In September 2023, we entered into an unsecured credit agreement with U.S. Bank National Association, as administrative agent, Citizens Bank, N.A., as syndication agent, Royal Bank of Canada, as documentation agent, U.S. Bank National Association and Citizens Bank, N.A., as joint lead arrangers and joint book runners, and the other lenders referred to therein (the “September 2023 Credit Agreement”), that provides a revolving credit facility permitting borrowings up to $400.0 million and has a termination date of September 27, 2028. We may request an increase in the revolving commitments in an aggregate amount not to exceed (i) $200 million or (ii) an unlimited amount, so long as the Leverage Ratio (as defined in the September 2023 Credit Agreement) is at least 0.25 to 1.00 less than the applicable Leverage Ratio then required under the September 2023 Credit Agreement. Revolving loans under the September 2023 Credit Agreement bear interest at either a base rate or the Term SOFR Rate (as defined in the September 2023 Credit Agreement) plus, in each case, an applicable margin, as determined in accordance with the provisions of the September 2023 Credit Agreement. The Applicable Margin ranges from 0.125% to 0.625% for the Base Rate and 1.125% to 1.625% for the Term SOFR Rate (each as defined in the September 2023 Credit Agreement). We may also request Swingline Loans at either the Base Rate or the Daily Term SOFR Rate (each as defined in the September 2023 Credit Agreement). The September 2023 Credit Agreement is guaranteed by certain direct or indirect wholly owned subsidiaries of the Company. The September 2023 Credit Agreement contains financial and other customary covenants, including a funded net indebtedness to adjusted EBITDA ratio. As of March 31, 2026, we had no outstanding borrowings under the September 2023 Credit Agreement and we were in compliance with all covenants. 0.375% Senior Convertible Notes due 2025 As previously disclosed on September 1, 2023, the Company entered into the Merger Agreement (the “NuVasive Merger Agreement”) with NuVasive, Inc. (“NuVasive”) and Zebra Merger Sub Inc., a wholly owned subsidiary of the Company (“Merger Sub”). Pursuant to the terms of the NuVasive Merger Agreement, Merger Sub merged with and into NuVasive (the “NuVasive Merger”), with NuVasive surviving as a wholly owned subsidiary of the Company. In connection with the closing of the NuVasive Merger, the Company, NuVasive and Wilmington Trust National Association, as trustee (the “Trustee”), entered into a supplemental agreement (the “First Supplemental Indenture”) to the Indenture, dated March 2, 2020 (the “Base Indenture”), by and between NuVasive and the Trustee, relating to NuVasive’s $450.0 million in aggregate principal amount of 0.375% Convertible Senior Notes due 2025 (the “2025 Notes”). On March 15, 2025, the $450.0 million in remaining aggregate principal amount of the 2025 Notes was paid off, net of an immaterial number of converted units that were settled in cash. There were no 2025 Notes outstanding as of March 31, 2026. There was no interest expense and $6.9 million of interest expense recognized on the 2025 Notes for the three months ended March 31, 2026 and 2025, respectively.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Changes to Contract Liabilities Related to Deferred Revenue (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2026 USD ($)
Contract with Customer, Liability [Roll Forward]
Beginning contract liabilities	$ 36,914
Revenue recognized from contract liabilities	(9,777)
Advance consideration received during the period	7,760
Ending contract liabilities	$ 34,897

PROPERTY AND EQUIPMENT - Schedule of Depreciation to Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Property, Plant and Equipment [Abstract]
Depreciation	$ 40,595	$ 37,272

FAIR VALUE MEASUREMENTS - Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Assets:
Cash equivalents	$ 379,925	$ 311,708
Liabilities:
Business acquisition liabilities	100,318	101,508
Municipal bonds
Assets:
Debt securities	12,262	9,556
Corporate debt securities
Assets:
Debt securities	81,974	37,427
Commercial paper
Assets:
Debt securities	49,317	15,627
Asset-backed securities
Assets:
Debt securities	60,285	19,178
Government, federal agency, and other sovereign obligations
Assets:
Debt securities	34,500	21,118
Level 1
Assets:
Cash equivalents	377,627	287,574
Liabilities:
Business acquisition liabilities	0	0
Level 1 \| Municipal bonds
Assets:
Debt securities	0	0
Level 1 \| Corporate debt securities
Assets:
Debt securities	0	0
Level 1 \| Commercial paper
Assets:
Debt securities	0	0
Level 1 \| Asset-backed securities
Assets:
Debt securities	0	0
Level 1 \| Government, federal agency, and other sovereign obligations
Assets:
Debt securities	30,403	17,046
Level 2
Assets:
Cash equivalents	2,298	24,134
Liabilities:
Business acquisition liabilities	0	0
Level 2 \| Municipal bonds
Assets:
Debt securities	12,262	9,556
Level 2 \| Corporate debt securities
Assets:
Debt securities	81,974	37,427
Level 2 \| Commercial paper
Assets:
Debt securities	49,317	15,627
Level 2 \| Asset-backed securities
Assets:
Debt securities	60,285	19,178
Level 2 \| Government, federal agency, and other sovereign obligations
Assets:
Debt securities	4,097	4,072
Level 3
Assets:
Cash equivalents	0	0
Liabilities:
Business acquisition liabilities	100,318	101,508
Level 3 \| Municipal bonds
Assets:
Debt securities	0	0
Level 3 \| Corporate debt securities
Assets:
Debt securities	0	0
Level 3 \| Commercial paper
Assets:
Debt securities	0
Level 3 \| Asset-backed securities
Assets:
Debt securities	0	0
Level 3 \| Government, federal agency, and other sovereign obligations
Assets:
Debt securities	$ 0	$ 0

INVENTORIES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
INVENTORIES - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Inventory Disclosure [Abstract]
Net adjustment to cost of sales related to excess and obsolete inventory	$ 5.0	$ 6.0
Excess and obsolete related provisions	11.7	10.2
Inventory sales and disposals related provisions	$ 6.7	$ 4.2

MARKETABLE SECURITIES - Composition of Marketable Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Debt Securities, Available-for-Sale [Line Items]
Amortized cost, short-term	$ 68,941	$ 31,068
Gross unrealized gains, short-term	2	19
Gross unrealized losses, short-term	(42)	0
Fair value, short-term	68,901	31,087
Amortized cost, long-term	170,220	71,680
Gross unrealized gains, long-term	9	145
Gross unrealized losses, long-term	(792)	(6)
Fair value, long-term	169,437	71,819
Municipal bonds
Debt Securities, Available-for-Sale [Line Items]
Amortized cost, short-term	8,670	5,943
Gross unrealized gains, short-term	0	4
Gross unrealized losses, short-term	(3)	0
Fair value, short-term	8,667	5,947
Amortized cost, long-term	3,600	3,600
Gross unrealized gains, long-term	1	9
Gross unrealized losses, long-term	(6)	0
Fair value, long-term	3,595	3,609
Corporate debt securities
Debt Securities, Available-for-Sale [Line Items]
Amortized cost, short-term	5,572	4,180
Gross unrealized gains, short-term	0	1
Gross unrealized losses, short-term	(5)	0
Fair value, short-term	5,567	4,181
Amortized cost, long-term	76,858	33,187
Gross unrealized gains, long-term	0	61
Gross unrealized losses, long-term	(451)	(2)
Fair value, long-term	76,407	33,246
Commercial paper
Debt Securities, Available-for-Sale [Line Items]
Amortized cost, short-term	49,350	15,622
Gross unrealized gains, short-term	0	5
Gross unrealized losses, short-term	(33)	0
Fair value, short-term	49,317	15,627
Asset-backed securities
Debt Securities, Available-for-Sale [Line Items]
Amortized cost, long-term	60,519	19,151
Gross unrealized gains, long-term	2	31
Gross unrealized losses, long-term	(236)	(4)
Fair value, long-term	60,285	19,178
Government, federal agency, and other sovereign obligations
Debt Securities, Available-for-Sale [Line Items]
Amortized cost, short-term	5,349	5,323
Gross unrealized gains, short-term	2	9
Gross unrealized losses, short-term	(1)	0
Fair value, short-term	5,350	5,332
Amortized cost, long-term	29,243	15,742
Gross unrealized gains, long-term	6	44
Gross unrealized losses, long-term	(99)	0
Fair value, long-term	$ 29,150	$ 15,786

ACCRUED EXPENSES

3 Months Ended

Mar. 31, 2026

Payables and Accruals [Abstract]

ACCRUED EXPENSES

Accrued expenses as of March 31, 2026 and December 31, 2025, respectively, included the following:


(In thousands)	March 31, 2026		December 31, 2025
Compensation and other employee-related costs	$	146,302	$	167,105
Legal and other settlements and expenses	50,660		51,875
Accrued non-income taxes	29,138		29,240
Royalties	16,908		11,632
Rebates	47,694		47,503
Other	22,729		26,231
Total accrued expenses	$	313,431	$	333,586

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2026	May 05, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2026
Document Transition Report	false
Entity File Number	001-35621
Entity Registrant Name	GLOBUS MEDICAL, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-3744954
Entity Address, Address Line One	2560 General Armistead Avenue
Entity Address, City or Town	Audubon
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19403-5214
City Area Code	610
Local Phone Number	930-1800
Title of 12(b) Security	Class A Common Stock, par value $.001 per share
Trading Symbol	GMED
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		135,744,626
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2026
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001237831

ASSET ACQUISITIONS AND BUSINESS COMBINATIONS - Narrative - Asset Acquisitions (Details) € in Millions	3 Months Ended
	Mar. 31, 2026 USD ($)	Mar. 31, 2026 EUR (€)	Sep. 30, 2025 USD ($)	Sep. 30, 2025 EUR (€)	Mar. 31, 2025 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2025 USD ($)
Asset Acquisition [Line Items]
Finite-lived intangible assets	$ 1,122,020,000						$ 1,117,199,000
Research and development	36,510,000				$ 33,062,000
INR Assets
Asset Acquisition [Line Items]
Asset acquisition, consideration transferred			$ 9,400,000	€ 8.0
Payments to acquire productive assets	4,700,000	€ 4.0	$ 4,700,000	€ 4.0
Weighted average useful life			7 years	7 years
Medical Device Technology Assets
Asset Acquisition [Line Items]
Weighted average useful life					10 years 1 month 6 days
Finite-lived intangible assets					$ 5,000,000.0
Percent of license fee					1.00%
Fibriant B.V. Assets
Asset Acquisition [Line Items]
Asset acquisition, consideration transferred						$ 12,000,000.0
Research and development						12,600,000
Contingent consideration liability, asset acquisitions	$ 0
Fibriant B.V. Assets \| Good Manufacturing Process Milestone
Asset Acquisition [Line Items]
Asset acquisition, unrecorded contingent consideration						12,000,000.0
Fibriant B.V. Assets \| Developed Products FDA Approval Milestone
Asset Acquisition [Line Items]
Asset acquisition, unrecorded contingent consideration						$ 10,000,000.0

STOCK-BASED AWARDS

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

STOCK-BASED AWARDS

We have four stock plans: our 2012 Equity Incentive Plan (the “2012 Plan”), our 2021 Equity Incentive Plan (the “2021 Plan”), the NuVasive 2014 Equity Incentive Plan (the “NuVasive 2014 Plan”), and the Ellipse Technologies 2015 Incentive Award Plan (the “Ellipse 2015 Plan” and, together with the 2012 Plan, the 2021 Plan, and NuVasive 2014 Plan, the “Plans”). The 2021 Plan is the only plan pursuant to which new awards may be granted.

The 2012 Plan was approved by our Board in March 2012, and by our stockholders in June 2012. The 2012 Plan terminated as to new awards pursuant to its terms in 2022. Following effectiveness of the 2021 Plan, we have not issued any additional awards under the 2012 Plan; however, awards previously granted under the 2012 Plan remain outstanding and are administered by our Board under the terms and conditions of the 2012 Plan.

The 2021 Plan was approved by our Board in March 2021, and by our stockholders in June 2021. The purpose of the 2021 Plan is to provide incentives to employees, directors, and consultants of Globus. The 2021 Plan is administered by the Board or its delegates. Under the 2021 Plan, as amended to date, the aggregate number of shares of Class A Common that are able to be issued subject to options and other awards is equal to the sum of (i) 11,000,000 shares, (ii) any shares available for issuance under the 2012 Plan as of June 3, 2021 and (iii) any shares underlying awards outstanding under the 2012 Plan or 2021 Plan as of June 3, 2021 that, on or after that date, are forfeited, terminated, expired or lapse for any reason, or are settled for cash without delivery of shares. The number of shares that may be issued or transferred pursuant to incentive stock options under the 2021 Plan is limited to 11,000,000 shares. The shares of Class A Common covered by the 2021 Plan include authorized but unissued shares, treasury shares or shares of common stock purchased on the open market. The number, type of awards, exercise price, and vesting terms are determined by the Board or its delegates in accordance with the terms of the 2021 Plan. The options granted expire on a date specified by the Board, which is ten years from the grant date. Options granted to employees vest in varying installments over a four-year period.

In connection with the NuVasive Merger, the Company assumed outstanding awards for the RSUs and PRSUs under the NuVasive 2014 Plan and the Ellipse 2015 Plan in accordance with the terms in the NuVasive Merger Agreement. The issuance amount of the PRSUs is determined by the Compensation Committee of the Board. Share payout levels range from 0% to 100% depending on the respective terms of an award.

As of March 31, 2026, pursuant to the 2021 Plan, the NuVasive 2014 Plan and the Ellipse 2015 Plan, there were 13,004,450 shares, 450 shares and 8,861 shares, respectively, of Class A Common reserved for issuance and 3,446,584 shares, 0 shares and 0 shares, respectively, of Class A Common available for future grants. The NuVasive 2014 Plan terminated as to new awards pursuant to its terms in the second quarter of 2024. In accordance with its terms, the Ellipse 2015 Plan terminated as to new awards pursuant to its terms in the fourth quarter of 2025.

Stock Options

Stock option activity during the three months ended March 31, 2026 is summarized as follows:


	Option Shares (thousands)	Weighted average exercise price		Weighted average remaining contractual life (years)	Aggregate intrinsic value (thousands)
Outstanding at December 31, 2025	10,579	$	61.11
Granted	1,462	93.71
Exercised	(515)	50.65
Forfeited	(226)	73.51
Outstanding at March 31, 2026	11,300	65.55		6.8	$	250,916
Exercisable at March 31, 2026	6,507	58.14		5.3	185,057
Expected to vest at March 31, 2026	4,793	$	75.61	8.8	$	65,859

The total intrinsic value of stock options exercised was $22.0 million and $12.2 million during the three months ended March 31, 2026 and 2025, respectively.

The fair value of the options was estimated on the date of the grant using a Black-Scholes option pricing model with the following assumptions:


	Three Months Ended March 31,
	2026			2025
Risk-free interest rate	3.72%	-	3.87%	4.09%	-	4.52%
Expected term (years)	5.0	-	5.5	4.9	-	9.1
Expected volatility	37.0%			34.0%	-	37.0%
Expected dividend yield	—%			—%

The weighted average grant date fair value of stock options granted during both the three months ended March 31, 2026 and 2025 was $36.40.

Restricted Stock Units

RSU activity during the three months ended March 31, 2026 is summarized as follows:


	Restricted Stock Units (thousands)	Weighted average grant date fair value per share		Weighted average remaining contractual life (years)
Outstanding at December 31, 2025	303	$	59.56
Granted	4	91.57
Vested	(130)	54.10
Forfeited	(1)	54.10
Outstanding at March 31, 2026	176	$	64.36	4.7

Performance-Based Restricted Stock Units

PRSU activity during the three months ended March 31, 2026 is summarized as follows:


	Performance-Based Restricted Stock Units (thousands)	Weighted average grant date fair value per share		Weighted average remaining contractual life (years)
Outstanding at December 31, 2025	12	$	62.15
Granted	—	—
Vested	(2)	54.10
Forfeited	(1)	54.10
Outstanding at March 31, 2026	9	$	64.89	1.5

Stock-Based Compensation

Compensation expense related to stock options granted to employees and non-employees under the Plans during the three months ended March 31, 2026 and 2025, respectively, was as follows:


	Three Months Ended March 31,
(In thousands)	2026		2025
Stock-based compensation expense	$	12,617	$	13,206
Net stock-based compensation capitalized into inventory	171		118
Total stock-based compensation cost	$	12,788	$	13,324

As of March 31, 2026, there was $129.4 million of unrecognized compensation expense related to unvested employee stock options, RSUs, and PRSUs that vest over a weighted average period of 2.9 years.

LEASES - Schedule of Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Finance ‎Leases
2026	$ 294
2027	287
2028	168
2029	52
2030	0
Thereafter	0
Total minimum lease payments	801
Less: amount representing interest	(83)
Present value of obligations under leases	718
Less: current portion	(320)	$ (348)
Long-term lease obligations	398	436
Operating ‎Leases
2026	17,347
2027	21,020
2028	18,519
2029	18,172
2030	17,953
Thereafter	57,976
Total minimum lease payments	150,987
Less: amount representing interest	(35,764)
Present value of obligations under leases	115,223
Less: current portion	(15,121)	(14,738)
Long-term lease obligations	$ 100,102	$ 103,918

NET SALES (Details) - USD ($) $ in Thousands	3 Months Ended
NET SALES (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Mar. 31, 2025
Disaggregation of Revenue [Line Items]
Total net sales	$ 759,854	$ 598,121
Musculoskeletal Solutions
Disaggregation of Revenue [Line Items]
Total net sales	732,984	575,932
Enabling Technologies
Disaggregation of Revenue [Line Items]
Total net sales	$ 26,870	$ 22,189

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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+ Details

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES We are involved in a number of proceedings, legal actions, and claims arising in the ordinary course of business. Such matters are subject to many uncertainties, and the outcomes of these matters are not within our control and may not be known for prolonged periods of time. In some actions, the claimants seek damages, as well as other relief, including injunctions prohibiting us from engaging in certain activities, which, if granted, could require significant expenditures and/or result in lost revenues. We record a liability in the condensed consolidated financial statements for these actions when a loss is considered probable and the amount can be reasonably estimated. If the reasonable estimate of a probable loss is a range, and no amount in the range is a better estimate than any other, the minimum amount of the range is accrued. If a loss is reasonably possible, but not known or probable, and can be reasonably estimated, the estimated loss or range of loss is disclosed. In most cases, significant judgment is required to estimate the amount and timing of a loss to be recorded. While it is not possible to predict the outcome for most of the matters discussed, we believe it is possible that costs associated with them could have a material adverse impact on our consolidated earnings, financial position or cash flows. Moskowitz Family LLC Litigation On November 20, 2019, Moskowitz Family LLC (“Moskowitz”) filed suit against us in the U.S. District Court for the Western District of Texas for patent infringement. Moskowitz, a non-practicing entity, alleges that Globus willfully infringes one or more claims of six patents by making, using, offering for sale or selling the COALITION MIS®, CORBEL®, MAGNIFY®-S, HEDRON IATM, INDEPENDENCE MIS®, INDEPENDENCE MIS AGX®, FORTIFY® and XPAND® families, SABLE®, RISE®, RISE® INTRALIF, RISE®-L, ELSA®, ELSA® ATP, ALTERA®, ARIEL®, CALIBER® and CALIBER®-L products. Moskowitz seeks monetary damages and injunctive relief. On July 2, 2020, this suit was transferred from the U.S. District Court for the Western District of Texas to the U.S. District Court for the Eastern District of Pennsylvania. On December 14, 2023, a jury returned a defense verdict in favor of Globus. On September 30, 2024, Moskowitz filed an appeal to the verdict. The outcome of this litigation cannot be determined, nor can we estimate a range of potential loss; therefore, we have not recorded a liability, outside of counsel fees, related to this litigation as of March 31, 2026. Pimenta Litigation On April 2, 2018, Dr. Luiz Pimenta filed suit against NuVasive in the Superior Court of California, County of San Diego (the “Court”) for breach of contract alleging NuVasive improperly terminated the Clinical Advisor Agreement (the “Agreement”) between the parties (the “Pimenta Litigation”). Dr. Pimenta sought monetary damages totaling $97 million, later reduced to $82 million, in the form of unpaid royalties relating to a number of NuVasive products. On September 13, 2022, NuVasive filed cross-claims against Dr. Pimenta for breach of contract alleging that Dr. Pimenta improperly provided inventions to Alphatec Holdings, Inc., a competitor of NuVasive, without granting NuVasive the right of first negotiation under the Agreement. NuVasive is seeking monetary damages in the form of lost profits related to the undisclosed inventions. On November 4, 2025, a jury returned a verdict that included $28.7 million in damages against NuVasive on which statutory interest and costs will apply. The jury did not award damages on the cross claims. On January 28, 2026, the Court ruled on the post-trial motions and interest costs associated with the damages. As of December 31, 2025, we recorded a liability of $43.1 million, which includes our accrual for interest and costs based on the Court’s order, in our accrued expenses. This provision for litigation charge was within our selling, general, and administrative expense financial statement line for the year ended December 31, 2025. No additional charges or accruals were recorded in the three months ended March 31, 2026. The Company intends to vigorously defend against these claims, including, but not limited to, filing appeals. 4WEB LLC Litigation On April 25, 2023, 4WEB LLC (“4WEB”) filed suit against NuVasive in the U.S. District Court for the Eastern District of Texas alleging patent infringement. 4WEB alleges that NuVasive willfully infringes one or more claims of eleven patents by making, using, offering for sale, or selling the Modulus® line of products. 4WEB seeks monetary damages and injunctive relief. On May 2, 2024, this suit was transferred from the U.S. District Court for the Eastern District of Texas to the U.S. District Court for the Southern District of California. The litigation is currently ongoing, and the outcome of this litigation cannot be determined, nor can we estimate a range of potential loss; therefore, we have not recorded a liability, outside of counsel fees, related to this litigation as of March 31, 2026.

BACKGROUND (Details) - Nevro Merger Agreement	Apr. 03, 2025 $ / shares
Business Combination [Line Items]
Common stock, par value (in USD per share)	$ 0.001
Merger consideration, price per share (in USD per share)	$ 5.85

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

ASSET ACQUISITIONS AND BUSINESS COMBINATIONS - Narrative - Nevro Merger (Details) - Nevro Merger Agreement - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended	12 Months Ended
	Apr. 03, 2025	Mar. 31, 2026	Dec. 31, 2025
Business Combination [Line Items]
Common stock, par value (in USD per share)	$ 0.001
Price paid per share (in USD per share)	$ 5.85
Fair value of cash settled equity awards	$ 9,493
Post acquisition vesting expense	15,100
Consideration transferred, labilities incurred	$ 18,500
Transaction costs incurred			$ 28,900
Acquiree revenue		$ 82,700

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

INCOME TAXES

3 Months Ended

Mar. 31, 2026

Income Tax Disclosure [Abstract]

INCOME TAXES

In computing our income tax provision, we make certain estimates and judgments, such as estimated annual taxable income or loss, annual effective tax rate, nature and timing of permanent and temporary differences between taxable income for financial reporting and tax reporting, and the recoverability of deferred tax assets. Our estimates and assumptions may change as new events occur, additional information is obtained, or as the tax environment changes. Should facts and circumstances change during a quarter causing a material change to the estimated effective income tax rate, a cumulative adjustment is recorded.

The One Big Beautiful Bill Act (the “OBBBA”) was signed into law in 2025 and, among other things, modifies the international tax regime and extends or makes permanent various provisions from the Tax Cuts and Jobs Act of 2017, including bonus depreciation and research and development expensing. The provisions of OBBBA for accelerated depreciation and research and development expenses reduce our cash income tax expense for 2026, and the modifications for the international tax provisions of OBBBA reduce our tax rate for 2026.

The following table provides a summary of our effective income tax rate for the three months ended March 31, 2026 and 2025, respectively:


	Three Months Ended March 31,
	2026	2025
Effective income tax rate	20.9%	27.2%

For the three months ended March 31, 2026, the decrease in the effective tax rate was driven by integration benefits in the current year.

- Definition

The entire disclosure for income tax.

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-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-URI https://asc.fasb.org/740/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis

The following table represents the fair value of assets and liabilities as of March 31, 2026 and December 31, 2025, respectively, including the following:


(In thousands)	Balance at March 31, 2026		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	379,925	$	377,627	$	2,298	$	—
Municipal bonds	12,262		—		12,262		—
Corporate debt securities	81,974		—		81,974		—
Commercial paper	49,317		—		49,317		—
Asset-backed securities	60,285		—		60,285		—
Government, federal agency, and other sovereign obligations	34,500		30,403		4,097		—
Liabilities:
Business acquisition liabilities	100,318		—		—		100,318


(In thousands)	Balance at December 31, 2025		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	311,708	$	287,574	$	24,134	$	—
Municipal bonds	9,556		—		9,556		—
Corporate debt securities	37,427		—		37,427		—
Commercial paper	15,627		—		15,627
Asset-backed securities	19,178		—		19,178		—
Government, federal agency, and other sovereign obligations	21,118		17,046		4,072		—
Liabilities:
Business acquisition liabilities	101,508		—		—		101,508

Schedule of Significant Unobservable Inputs in Valuation Techniques

The following are the significant unobservable inputs used in the two valuation techniques:


Unobservable input	Range			Weighted Average*
Revenue risk premium	1.6%	-	5.5%	2.5%
Revenue volatility	14.0%	-	15.8%	14.8%
Discount rate	3.9%	-	8.5%	5.0%
Projected year of payment	2026	-	2035

* The weighted average rates were calculated based on the relative fair value of each business acquisition liability.

Schedule of Changes in Carrying Value of Business Acquisition Liabilities

The change in the carrying value of the business acquisition liabilities during the three months ended March 31, 2026 and 2025, respectively, included the following:


	Three Months Ended March 31,
(In thousands)	2026		2025
Beginning balance	$	101,508	$	123,235
Purchase price contingent consideration	3,909		—
Contingent cash payments	(6,597)		(5,902)
Contingent RSU grants	(393)		(429)
Changes in fair value of business acquisition liabilities	6,352		167
Contractual payable reclassification	(4,461)		984
Ending balance	$	100,318	$	118,055

FAIR VALUE MEASUREMENTS

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

The following table represents the fair value of assets and liabilities as of March 31, 2026 and December 31, 2025, respectively, including the following:


(In thousands)	Balance at March 31, 2026		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	379,925	$	377,627	$	2,298	$	—
Municipal bonds	12,262		—		12,262		—
Corporate debt securities	81,974		—		81,974		—
Commercial paper	49,317		—		49,317		—
Asset-backed securities	60,285		—		60,285		—
Government, federal agency, and other sovereign obligations	34,500		30,403		4,097		—
Liabilities:
Business acquisition liabilities	100,318		—		—		100,318


(In thousands)	Balance at December 31, 2025		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	311,708	$	287,574	$	24,134	$	—
Municipal bonds	9,556		—		9,556		—
Corporate debt securities	37,427		—		37,427		—
Commercial paper	15,627		—		15,627
Asset-backed securities	19,178		—		19,178		—
Government, federal agency, and other sovereign obligations	21,118		17,046		4,072		—
Liabilities:
Business acquisition liabilities	101,508		—		—		101,508

Our marketable securities and certain cash equivalents are classified as Level 2 within the fair value hierarchy, as we measure their fair value using market prices for similar instruments and inputs such as actual trade data, benchmark yields, broker/dealer quotes and other similar data obtained from quoted market prices or independent pricing vendors.

Fair value of the revenue-based business acquisition liabilities was determined using a discounted cash flow model, probability model, and an option pricing methodology. The significant inputs of such models are not observable in the market, such as certain financial metric growth rates, volatility and discount rates, market price risk adjustment, projections associated with the applicable milestone, the interest rate, and the related probabilities and payment structure in the contingent consideration arrangement.

The following are the significant unobservable inputs used in the two valuation techniques:


Unobservable input	Range			Weighted Average*
Revenue risk premium	1.6%	-	5.5%	2.5%
Revenue volatility	14.0%	-	15.8%	14.8%
Discount rate	3.9%	-	8.5%	5.0%
Projected year of payment	2026	-	2035

* The weighted average rates were calculated based on the relative fair value of each business acquisition liability.

The change in the carrying value of the business acquisition liabilities during the three months ended March 31, 2026 and 2025, respectively, included the following:


	Three Months Ended March 31,
(In thousands)	2026		2025
Beginning balance	$	101,508	$	123,235
Purchase price contingent consideration	3,909		—
Contingent cash payments	(6,597)		(5,902)
Contingent RSU grants	(393)		(429)
Changes in fair value of business acquisition liabilities	6,352		167
Contractual payable reclassification	(4,461)		984
Ending balance	$	100,318	$	118,055

Changes in the fair value of business acquisition liabilities are driven by changes in market conditions and the achievement of certain performance conditions.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Section 50
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-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

EQUITY - Narrative (Details) $ in Millions	3 Months Ended
EQUITY - Narrative (Details) $ in Millions	Mar. 31, 2026 USD ($) vote shares	Dec. 31, 2025 shares	May 15, 2025 USD ($)
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	775,000,000
Common Class A and B
Class of Stock [Line Items]
Number of votes per share \| vote	1
Class A ‎Common Stock
Class of Stock [Line Items]
Shares authorized to repurchase \| $			$ 500.0
Number of shares repurchased	0
Stock repurchase plan, remaining authorized amount \| $	$ 390.0
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Number of votes per share \| vote	1
Shares converted from other class (in shares)	1
Class B ‎Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	275,000,000	275,000,000
Number of votes per share \| vote	10

LEASES - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash paid for amounts included in measurement of lease liabilities
Operating cash flows from operating leases	$ 6,066	$ 5,623
Operating cash flows for finance leases	12	13
Financing cash flows for finance leases	88	57
Total cash paid for amounts included in the measurement of lease liabilities	6,165	5,693
Right-of-use assets obtained in exchange for lease obligations
Operating leases	774	820
Financing leases	$ 274	$ 0
Weighted-average remaining lease term
Operating leases	7 years 4 months 24 days	7 years 6 months
Financing leases	3 years 6 months	2 years 4 months 24 days
Weighted-average discount rate
Operating leases	6.90%	5.30%
Financing leases	6.00%	5.80%

SEGMENT AND GEOGRAPHIC INFORMATION - Schedule of Total Segment Revenue, Significant Segments Expenses and Other Expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Segment Reporting Information [Line Items]
Net sales	$ 759,854	$ 598,121
Cost of Sales and Operating expenses:
Cost of sales	(234,066)	(195,397)
Acquisition-related costs	(6,377)	(1,057)
Amortization of intangibles	(29,526)	(28,802)
Operating income/(loss)	150,388	97,004
Interest income/(expense), net	5,434	1,681
Foreign currency transactional gain/(loss)	(2,113)	4,270
Bargain purchase gain	1,118	0
Income/(loss) before income taxes	157,074	103,668
Reportable Segment
Segment Reporting Information [Line Items]
Net sales	759,854	598,121
Cost of Sales and Operating expenses:
Cost of sales	(202,990)	(166,374)
Amortization of inventory fair value step-up	0	(49)
Depreciation related to cost of sales	(31,077)	(28,973)
Research and development employee-related cost	(27,337)	(25,432)
Research and development other	(9,173)	(7,631)
Selling, general and administrative employee-related cost	(226,900)	(188,981)
Selling, general and administrative other	(58,434)	(45,624)
Provision for litigation	(134)	1,286
Acquisition-related costs	(6,377)	(1,057)
Amortization of intangibles	(29,526)	(28,802)
Other segment expenses	(15,271)	(8,767)
Operating income/(loss)	152,635	97,717
Interest income/(expense), net	5,434	1,681
Foreign currency transactional gain/(loss)	(2,113)	4,270
Bargain purchase gain	1,118	0
Income/(loss) before income taxes	$ 157,074	$ 103,668

MARKETABLE SECURITIES - Narrative (Details)	Mar. 31, 2026	Dec. 31, 2025
Minimum \| Long-term Investments
Debt Securities, Available-for-Sale [Line Items]
Contractual maturity	1 year	1 year
Maximum \| Short-term Investments
Debt Securities, Available-for-Sale [Line Items]
Contractual maturity	1 year	1 year
Maximum \| Long-term Investments
Debt Securities, Available-for-Sale [Line Items]
Contractual maturity	3 years	3 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
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-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
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-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

+ Details

EQUITY - Schedule of Computation of Basic and Diluted Earnings (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income/(loss) for basic	$ 124,301	$ 75,462
Denominator for basic and diluted net income per share:
Weighted average shares outstanding for basic (in shares)	135,364	136,757
Dilutive stock options, RSUs, and PRSUs (in shares)	2,826	3,017
Weighted average shares outstanding for diluted (in shares)	138,191	139,774
Earnings per share:
Basic (in USD per share)	$ 0.92	$ 0.55
Diluted (in USD per share)	$ 0.90	$ 0.54
Anti-dilutive award excluded from the calculation (in shares)	3,194	6,667
Anti-dilutive stock options and RSUs excluded from the calculation
Earnings per share:
Anti-dilutive award excluded from the calculation (in shares)	3,194	3,049
Anti-dilutive warrants excluded from the calculation
Earnings per share:
Anti-dilutive award excluded from the calculation (in shares)	0	3,618

FAIR VALUE MEASUREMENTS - Schedule of Significant Unobservable Inputs in Valuation Techniques (Details) - Level 3	3 Months Ended
	Mar. 31, 2026
Revenue risk premium \| Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable input	0.016
Revenue risk premium \| Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable input	0.055
Revenue risk premium \| Weighted Average
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable input	0.025
Revenue volatility \| Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable input	0.140
Revenue volatility \| Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable input	0.158
Revenue volatility \| Weighted Average
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable input	0.148
Discount rate \| Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable input	0.039
Discount rate \| Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable input	0.085
Discount rate \| Weighted Average
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unobservable input	0.050
Measurement input probability of payment \| Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Projected year of payment	2026
Measurement input probability of payment \| Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Projected year of payment	2035

FAIR VALUE MEASUREMENTS - Schedule of Changes in Carrying Value of Business Acquisition Liabilities (Details) - Contingent Consideration - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 101,508	$ 123,235
Purchase price contingent consideration	3,909	0
Contingent cash payments	(6,597)	(5,902)
Contingent RSU grants	(393)	(429)
Changes in fair value of business acquisition liabilities	6,352	167
Contractual payable reclassification	(4,461)	984
Ending balance	$ 100,318	$ 118,055

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 560,950	$ 526,156
Short-term marketable securities	68,901	31,087
Accounts receivable, net of allowances of $40,933 and $33,434, respectively	686,433	678,938
Inventories	772,602	759,277
Prepaid expenses and other current assets	60,228	65,426
Income taxes receivable	49,006	64,727
Total current assets	2,198,120	2,125,611
Property and equipment, net	557,139	564,452
Operating lease right of use assets	61,507	63,786
Long-term marketable securities	169,437	71,819
Intangible assets, net	720,845	745,064
Goodwill	1,438,733	1,435,033
Other assets	78,964	78,781
Deferred income taxes	214,810	218,215
Total assets	5,439,555	5,302,761
Current liabilities:
Accounts payable	103,658	98,852
Accrued expenses	313,431	333,586
Operating lease liabilities	15,121	14,738
Income taxes payable	3,032	4,155
Business acquisition liabilities	20,874	19,513
Deferred revenue	26,347	27,655
Total current liabilities	482,463	498,499
Business acquisition liabilities, net of current portion	79,444	81,995
Operating lease liabilities	100,102	103,918
Deferred income taxes and other tax liabilities	24,658	23,756
Other liabilities	20,576	21,343
Total liabilities	707,243	729,511
Commitments and contingencies (Note 17)
Equity:
Additional paid-in capital	3,205,514	3,169,812
Accumulated other comprehensive income/(loss)	14,404	15,346
Retained earnings	1,512,259	1,387,957
Total equity	4,732,312	4,573,250
Total liabilities and equity	5,439,555	5,302,761
Class A ‎Common Stock
Equity:
Common stock	113	113
Class B ‎Common Stock
Equity:
Common stock	$ 22	$ 22

PROPERTY AND EQUIPMENT - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Property, Plant and Equipment [Line Items]
Property and equipment	$ 1,304,721	$ 1,269,452
Less: accumulated depreciation and amortization	(747,582)	(705,000)
Total	557,139	564,452
Land
Property, Plant and Equipment [Line Items]
Property and equipment	$ 10,830	10,849
Buildings and improvements
Property, Plant and Equipment [Line Items]
Useful life	31 years 6 months
Property and equipment	$ 127,833	127,573
Equipment
Property, Plant and Equipment [Line Items]
Property and equipment	$ 258,963	258,475
Equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful life	5 years
Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful life	15 years
Instruments, modules, and cases
Property, Plant and Equipment [Line Items]
Useful life	5 years
Property and equipment	$ 834,615	813,488
Other property and equipment
Property, Plant and Equipment [Line Items]
Property and equipment	$ 72,480	$ 59,067
Other property and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful life	3 years
Other property and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful life	5 years

STOCK-BASED AWARDS - Schedule of Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2026 USD ($) $ / shares shares
Option shares
Outstanding, beginning balance (in shares) \| shares	10,579
Granted (in shares) \| shares	1,462
Exercised (in shares) \| shares	(515)
Forfeited (in shares) \| shares	(226)
Outstanding, ending balance (in shares) \| shares	11,300
Exercisable (in shares) \| shares	6,507
Expected to vest (in shares) \| shares	4,793
Weighted ‎average ‎exercise ‎price
Outstanding, beginning balance (in USD per share) \| $ / shares	$ 61.11
Granted (in USD per share) \| $ / shares	93.71
Exercised (in USD per share) \| $ / shares	50.65
Forfeited (in USD per share) \| $ / shares	73.51
Outstanding, ending balance (in USD per share) \| $ / shares	65.55
Exercisable (in USD per share) \| $ / shares	58.14
Expected to vest (in USD per share) \| $ / shares	$ 75.61
Additional disclosures
Weighted average remaining contractual life, outstanding	6 years 9 months 18 days
Weighted average remaining contractual life, exercisable	5 years 3 months 18 days
Weighted average remaining contractual life, expected to vest	8 years 9 months 18 days
Aggregate intrinsic value, outstanding \| $	$ 250,916
Aggregate intrinsic value, exercisable \| $	185,057
Aggregate intrinsic value, expected to vest \| $	$ 65,859

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Income Statement [Abstract]
Net sales	$ 759,854	$ 598,121
Cost of Sales and Operating expenses:
Cost of sales (exclusive of amortization of intangibles)	234,066	195,397
Research and development	36,510	33,062
Selling, general and administrative	297,775	242,799
Amortization of intangibles	29,526	28,802
Acquisition-related costs	6,377	1,057
Restructuring costs	5,212	0
Operating income/(loss)	150,388	97,004
Other income/(expense), net
Interest income/(expense), net	5,434	1,681
Foreign currency transaction gain/(loss)	(2,113)	4,270
Bargain purchase gain	1,118	0
Other income/(expense)	2,247	713
Total other income/(expense), net	6,686	6,664
Income/(loss) before income taxes	157,074	103,668
Income tax provision/(benefit)	32,772	28,206
Net income/(loss)	124,302	75,462
Other comprehensive income/(loss), net of tax:
Unrealized gain/(loss) on marketable securities	(1,160)	315
Foreign currency translation gain/(loss)	218	4,379
Total other comprehensive income/(loss), net of tax	(942)	4,694
Comprehensive income/(loss)	$ 123,360	$ 80,156
Earnings per share:
Basic (in USD per share)	$ 0.92	$ 0.55
Diluted (in USD per share)	$ 0.90	$ 0.54
Weighted average shares outstanding:
Basic (in shares)	135,364	136,757
Diluted (in shares)	138,191	139,774

GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

The change in the carrying amount of goodwill during the twelve months ended December 31, 2025 and the three months ended March 31, 2026, respectively, included the following:


(In thousands)
December 31, 2024	$	1,432,387
Foreign exchange	2,646
December 31, 2025	1,435,033
Additions and adjustments	3,920
Foreign exchange	(220)
March 31, 2026	$	1,438,733

Intangible assets as of March 31, 2026 included the following:


		March 31, 2026
(In thousands)	Weighted Average Amortization Period (in years)	Gross Carrying Amount		Accumulated Amortization		Intangible Assets, net
Customer relationships & other intangibles	10.5	$	367,448	$	(124,454)	$	242,994
Developed technology	7.9	729,820		(268,978)		460,842
Patents	14.0	14,718		(6,660)		8,058
Trade names	15.3	10,034		(1,083)		8,951
Total intangible assets		$	1,122,020	$	(401,175)	$	720,845

Intangible assets as of December 31, 2025 included the following:


		December 31, 2025
(In thousands)	Weighted Average Amortization Period (in years)	Gross Carrying Amount		Accumulated Amortization		Intangible Assets, net
Customer relationships & other intangibles	10.5	$	367,184	$	(116,701)	$	250,483
Developed technology	7.9	725,237		(248,098)		477,139
Patents	14.1	14,744		(6,410)		8,334
Trade names	15.3	10,034		(926)		9,108
Total intangible assets		$	1,117,199	$	(372,135)	$	745,064

The following table summarizes amortization of intangible assets for future periods as of March 31, 2026:


(In thousands)	Annual Amortization
2026	$	88,261
2027	116,385
2028	112,978
2029	112,659
Thereafter	290,562
Total	$	720,845

INCOME TAXES (Details)	3 Months Ended
INCOME TAXES (Details)	Mar. 31, 2026	Mar. 31, 2025
Income Tax Disclosure [Abstract]
Effective income tax rate	20.90%	27.20%

LEASES - Schedule of Amount Reported in Condensed Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Asset:
Operating lease right-of-use asset	$ 61,507	$ 63,786
Finance lease right-of-use asset	697	718
Total leased assets	62,204	64,504
Current:
Operating lease liability	15,121	14,738
Finance lease liability	320	348
Long-term:
Operating lease liability	100,102	103,918
Finance lease liability	398	436
Total lease liabilities	$ 115,941	$ 119,440

INVENTORIES

3 Months Ended

Mar. 31, 2026

Inventory Disclosure [Abstract]

INVENTORIES

Inventories included the following as of March 31, 2026 and December 31, 2025, respectively:


(In thousands)	March 31, 2026		December 31, 2025
Raw materials	$	163,831	$	162,247
Work in process	69,687		64,462
Finished goods	539,084		532,568
Total inventories	$	772,602	$	759,277

During the three months ended March 31, 2026 and 2025, net adjustments to cost of sales related to excess and obsolete inventory were $5.0 million and $6.0 million, respectively. The net adjustments for the three months ended March 31, 2026 and 2025 reflect a combination of additional expense for excess and obsolete related provisions ($11.7 million and $10.2 million, respectively) offset by sales and disposals ($6.7 million and $4.2 million, respectively) of inventory for which an excess and obsolete provision was previously recorded.

LEASES

3 Months Ended

Mar. 31, 2026

Leases [Abstract]

LEASES

The Company leases certain equipment, vehicles, office and storage facilities via various operating and financing lease agreements. Our leases have initial lease terms ranging from one year to seventeen years. Certain lease agreements require the Company to pay taxes, insurance, and maintenance, and provide for options to extend the term beyond the initial lease termination date. We use judgment to determine whether it is reasonably possible that we will extend the lease beyond the initial term and the length of the possible extension. Leases that have terms of less than 12 months are treated as short-term and we do not recognize right-of-use assets or lease liabilities for such leases. We generally estimate discount rates using our incremental borrowing rate, and based on other information available, at commencement date of a lease when determining the present value of future payments, as most of our leases do not provide an implicit rate.

The Company includes financing lease right-of-use assets in other assets, short-term financing lease liabilities in accrued expenses, and long-term financing lease liabilities in other liabilities on the condensed consolidated balance sheet. Operating lease expense is recognized, on a straight-line basis over the term of the lease, as a component of operating income on the condensed consolidated statement of operations and comprehensive income. Finance leases amortize the right-of-use assets and amortize the interest on the lease liability over the term of the lease.

Amounts reported in the condensed consolidated balance sheet were as follows as of March 31, 2026 and December 31, 2025, respectively:


	March 31,		December 31,
(In thousands)	2026		2025
Asset:
Operating lease right-of-use asset	$	61,507	$	63,786
Finance lease right-of-use asset	697		718
Total leased assets	$	62,204	$	64,504

Liabilities:
Current:
Operating lease liability	15,121		14,738
Finance lease liability	320		348
Long-term:
Operating lease liability	100,102		103,918
Finance lease liability	398		436
Total lease liabilities	$	115,941	$	119,440

The table below summarizes the Company’s lease costs arising from the operating and financing lease obligations for the three months ended March 31, 2026 and 2025, respectively:


	Three Months Ended March 31,
(In thousands)	2026		2025
Lease expense:
Operating lease expense	$	5,945	$	3,570
Finance lease expense
Depreciation of right-of-use asset	94		65
Interest expense on lease liabilities	12		13
Total lease expense	$	6,051	$	3,648

Future minimum lease payments under non-cancellable leases as of March 31, 2026, are as follows:


(In thousands)	Finance Leases		Operating Leases
2026	$	294	$	17,347
2027	287		21,020
2028	168		18,519
2029	52		18,172
2030	—		17,953
Thereafter	—		57,976
Total minimum lease payments	$	801	$	150,987
Less: amount representing interest	(83)		(35,764)
Present value of obligations under leases	718		115,223
Less: current portion	(320)		(15,121)
Long-term lease obligations	$	398	$	100,102

The table below summarizes the Company’s supplemental cash flow information and assumptions used for the three months ended March 31, 2026 and 2025, respectively:


	Three Months Ended March 31,
(In thousands, except weighted average lease term and discount rate)	2026			2025
Other supplemental cash flow information:
Cash paid for amounts included in measurement of lease liabilities
Operating cash flows from operating leases	$	6,066		$	5,623
Operating cash flows for finance leases	12			13
Financing cash flows for finance leases	88			57
Total cash paid for amounts included in the measurement of lease liabilities	$	6,165		$	5,693

Right-of-use assets obtained in exchange for lease obligations
Operating leases	$	774		$	820
Financing leases	$	274		$	—
Weighted-average remaining lease term
Operating leases	7.4			7.5
Financing leases	3.5			2.4
Weighted-average discount rate
Operating leases	6.9		%	5.3		%
Financing leases	6.0		%	5.8		%

LEASES

Amounts reported in the condensed consolidated balance sheet were as follows as of March 31, 2026 and December 31, 2025, respectively:


	March 31,		December 31,
(In thousands)	2026		2025
Asset:
Operating lease right-of-use asset	$	61,507	$	63,786
Finance lease right-of-use asset	697		718
Total leased assets	$	62,204	$	64,504

Liabilities:
Current:
Operating lease liability	15,121		14,738
Finance lease liability	320		348
Long-term:
Operating lease liability	100,102		103,918
Finance lease liability	398		436
Total lease liabilities	$	115,941	$	119,440

The table below summarizes the Company’s lease costs arising from the operating and financing lease obligations for the three months ended March 31, 2026 and 2025, respectively:


	Three Months Ended March 31,
(In thousands)	2026		2025
Lease expense:
Operating lease expense	$	5,945	$	3,570
Finance lease expense
Depreciation of right-of-use asset	94		65
Interest expense on lease liabilities	12		13
Total lease expense	$	6,051	$	3,648

Future minimum lease payments under non-cancellable leases as of March 31, 2026, are as follows:


(In thousands)	Finance Leases		Operating Leases
2026	$	294	$	17,347
2027	287		21,020
2028	168		18,519
2029	52		18,172
2030	—		17,953
Thereafter	—		57,976
Total minimum lease payments	$	801	$	150,987
Less: amount representing interest	(83)		(35,764)
Present value of obligations under leases	718		115,223
Less: current portion	(320)		(15,121)
Long-term lease obligations	$	398	$	100,102

The table below summarizes the Company’s supplemental cash flow information and assumptions used for the three months ended March 31, 2026 and 2025, respectively:


	Three Months Ended March 31,
(In thousands, except weighted average lease term and discount rate)	2026			2025
Other supplemental cash flow information:
Cash paid for amounts included in measurement of lease liabilities
Operating cash flows from operating leases	$	6,066		$	5,623
Operating cash flows for finance leases	12			13
Financing cash flows for finance leases	88			57
Total cash paid for amounts included in the measurement of lease liabilities	$	6,165		$	5,693

Right-of-use assets obtained in exchange for lease obligations
Operating leases	$	774		$	820
Financing leases	$	274		$	—
Weighted-average remaining lease term
Operating leases	7.4			7.5
Financing leases	3.5			2.4
Weighted-average discount rate
Operating leases	6.9		%	5.3		%
Financing leases	6.0		%	5.8		%

GOODWILL AND INTANGIBLE ASSETS - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Finite-Lived Intangible Assets [Line Items]
Gross ‎Carrying ‎Amount	$ 1,122,020	$ 1,117,199
Accumulated ‎Amortization	(401,175)	(372,135)
Intangible ‎Assets, ‎net	$ 720,845	$ 745,064
Customer relationships & other intangibles
Finite-Lived Intangible Assets [Line Items]
Weighted ‎Average ‎Amortization ‎ Period ‎(in years)	10 years 6 months	10 years 6 months
Gross ‎Carrying ‎Amount	$ 367,448	$ 367,184
Accumulated ‎Amortization	(124,454)	(116,701)
Intangible ‎Assets, ‎net	$ 242,994	$ 250,483
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted ‎Average ‎Amortization ‎ Period ‎(in years)	7 years 10 months 24 days	7 years 10 months 24 days
Gross ‎Carrying ‎Amount	$ 729,820	$ 725,237
Accumulated ‎Amortization	(268,978)	(248,098)
Intangible ‎Assets, ‎net	$ 460,842	$ 477,139
Patents
Finite-Lived Intangible Assets [Line Items]
Weighted ‎Average ‎Amortization ‎ Period ‎(in years)	14 years	14 years 1 month 6 days
Gross ‎Carrying ‎Amount	$ 14,718	$ 14,744
Accumulated ‎Amortization	(6,660)	(6,410)
Intangible ‎Assets, ‎net	$ 8,058	$ 8,334
Trade names
Finite-Lived Intangible Assets [Line Items]
Weighted ‎Average ‎Amortization ‎ Period ‎(in years)	15 years 3 months 18 days	15 years 3 months 18 days
Gross ‎Carrying ‎Amount	$ 10,034	$ 10,034
Accumulated ‎Amortization	(1,083)	(926)
Intangible ‎Assets, ‎net	$ 8,951	$ 9,108

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

INCOME TAXES (Tables)

3 Months Ended

Mar. 31, 2026

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate

The following table provides a summary of our effective income tax rate for the three months ended March 31, 2026 and 2025, respectively:


	Three Months Ended March 31,
	2026	2025
Effective income tax rate	20.9%	27.2%

GOODWILL AND INTANGIBLE ASSETS (Tables)

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The change in the carrying amount of goodwill during the twelve months ended December 31, 2025 and the three months ended March 31, 2026, respectively, included the following:


(In thousands)
December 31, 2024	$	1,432,387
Foreign exchange	2,646
December 31, 2025	1,435,033
Additions and adjustments	3,920
Foreign exchange	(220)
March 31, 2026	$	1,438,733

Schedule of Finite-Lived Intangible Assets

Intangible assets as of March 31, 2026 included the following:


		March 31, 2026
(In thousands)	Weighted Average Amortization Period (in years)	Gross Carrying Amount		Accumulated Amortization		Intangible Assets, net
Customer relationships & other intangibles	10.5	$	367,448	$	(124,454)	$	242,994
Developed technology	7.9	729,820		(268,978)		460,842
Patents	14.0	14,718		(6,660)		8,058
Trade names	15.3	10,034		(1,083)		8,951
Total intangible assets		$	1,122,020	$	(401,175)	$	720,845

Intangible assets as of December 31, 2025 included the following:


		December 31, 2025
(In thousands)	Weighted Average Amortization Period (in years)	Gross Carrying Amount		Accumulated Amortization		Intangible Assets, net
Customer relationships & other intangibles	10.5	$	367,184	$	(116,701)	$	250,483
Developed technology	7.9	725,237		(248,098)		477,139
Patents	14.1	14,744		(6,410)		8,334
Trade names	15.3	10,034		(926)		9,108
Total intangible assets		$	1,117,199	$	(372,135)	$	745,064

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The following table summarizes amortization of intangible assets for future periods as of March 31, 2026:


(In thousands)	Annual Amortization
2026	$	88,261
2027	116,385
2028	112,978
2029	112,659
Thereafter	290,562
Total	$	720,845

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

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+ Details

RESTRUCTURING AND OTHER COSTS - Schedule of Recognized Pre-tax Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
2024 Synergy Plan
Restructuring Cost and Reserve [Line Items]
Total restructuring and other costs	$ 1,594	$ 154
2025 Strategic Integration Plan
Restructuring Cost and Reserve [Line Items]
Total restructuring and other costs	3,621	0
Research and Development \| 2024 Synergy Plan
Restructuring Cost and Reserve [Line Items]
Total restructuring and other costs	0	96
Selling, General and Administrative \| 2024 Synergy Plan
Restructuring Cost and Reserve [Line Items]
Total restructuring and other costs	3	58
Restructuring Costs \| 2024 Synergy Plan
Restructuring Cost and Reserve [Line Items]
Total restructuring and other costs	$ 1,591	$ 0

- Definition

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

GOODWILL AND INTANGIBLE ASSETS - Schedule of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2026	Dec. 31, 2025
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 1,435,033	$ 1,432,387
Additions and adjustments	3,920
Foreign exchange	(220)	2,646
Goodwill, ending balance	$ 1,438,733	$ 1,435,033

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

LEASES - Schedule of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Leases [Abstract]
Operating lease expense	$ 5,945	$ 3,570
Depreciation of right-of-use asset	94	65
Interest expense on lease liabilities	12	13
Total lease expense	$ 6,051	$ 3,648

MARKETABLE SECURITIES

3 Months Ended

Mar. 31, 2026

Marketable Securities [Abstract]

MARKETABLE SECURITIES

The composition of our short-term and long-term marketable securities as of March 31, 2026 and December 31, 2025 were as follows:


	March 31, 2026
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Short-term:
Municipal bonds	$	8,670	$	—	$	(3)	$	8,667
Corporate debt securities	5,572		—		(5)		5,567
Commercial paper	49,350		—		(33)		49,317
Government, federal agency, and other sovereign obligations	5,349		2		(1)		5,350
Total short-term marketable securities	$	68,941	$	2	$	(42)	$	68,901

Long-term:
Municipal bonds	$	3,600	$	1	$	(6)	$	3,595
Corporate debt securities	76,858		—		(451)		76,407
Asset-backed securities	60,519		2		(236)		60,285
Government, federal agency, and other sovereign obligations	29,243		6		(99)		29,150
Total long-term marketable securities	$	170,220	$	9	$	(792)	$	169,437


	December 31, 2025
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Short-term:
Municipal bonds	$	5,943	$	4	$	—	$	5,947
Corporate debt securities	4,180		1		—		4,181
Commercial paper	15,622		5		—		15,627
Government, federal agency, and other sovereign obligations	5,323		9		—		5,332
Total short-term marketable securities	$	31,068	$	19	$	—	$	31,087

Long-term:
Municipal bonds	$	3,600	$	9	$	—	$	3,609
Corporate debt securities	33,187		61		(2)		33,246
Asset-backed securities	19,151		31		(4)		19,178
Government, federal agency, and other sovereign obligations	15,742		44		—		15,786
Total long-term marketable securities	$	71,680	$	145	$	(6)	$	71,819

The short-term marketable securities have effective maturity dates of less than one year and the long-term marketable securities have effective maturity dates ranging from one to three years as of March 31, 2026 and December 31, 2025, respectively.

BACKGROUND	3 Months Ended
BACKGROUND	Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BACKGROUND	BACKGROUND (a)The Company Globus Medical, Inc., together with its majority-owned or controlled subsidiaries, is a medical device company that develops and commercializes healthcare solutions with a mission to improve the quality of life of patients with musculoskeletal disorders. We are primarily focused on implants that promote healing in patients with musculoskeletal disorders, including the use of a robotic guidance and navigation system and products to treat patients who have experienced orthopedic traumas. We are an engineering-driven company with a history of rapidly developing and commercializing advanced products and procedures to assist surgeons in effectively treating their patients and to address new treatment options. With numerous products launched since the founding of the Company, we offer a comprehensive portfolio of innovative and differentiated technologies that address a variety of musculoskeletal pathologies, anatomies, and surgical approaches. We are headquartered in Audubon, Pennsylvania, and market and sell our products through our exclusive sales force in the United States (“U.S.”), as well as within North, Central & South America, Europe, Asia, Africa and Australia. We sell our products in the U.S. through a sales force comprised primarily of directly-employed and independent sales representatives. Our international sales force is comprised of directly-employed sales personnel and independent sales representatives, as well as exclusive and non-exclusive independent third-party distributors. The terms the “Company,” “Globus,” “we,” “us” and “our” refer to Globus Medical, Inc. and, where applicable, our consolidated subsidiaries. (b)Nevro Merger As previously disclosed on February 6, 2025, the Company entered into an Agreement and Plan of Merger (the “Nevro Merger Agreement”) with Nevro Corp. (“Nevro”) and Palmer Merger Sub, Inc., a wholly owned subsidiary of the Company (“Palmer Merger Sub”). On April 3, 2025, pursuant to the terms of the Nevro Merger Agreement, Palmer Merger Sub merged with and into Nevro (the “Nevro Merger”), with Nevro surviving as a wholly owned subsidiary of the Company. Upon the consummation of the Nevro Merger, each issued and outstanding share of common stock of Nevro, $0.001 par value per share, was cancelled and converted into the right to receive cash in an amount equal to $5.85 per share of common stock of Nevro, without interest and subject to any applicable withholding taxes. Refer to Note 3, Asset Acquisitions and Business Combinations for further information. Globus was deemed to be the accounting acquirer of Nevro for accounting purposes under U.S. Generally Accepted Accounting Principles (“U.S. GAAP”). Accordingly, prior periods within these condensed consolidated financial statements may not be comparable.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Cash flows from operating activities:
Net income	$ 124,302	$ 75,462
Adjustments to reconcile net income to net cash provided by operating activities:
Bargain purchase gain	(1,118)	0
Depreciation and amortization	69,856	65,653
Provision for excess and obsolete inventory	4,960	5,960
Amortization of acquisition accounting fair value step up	0	6,707
Stock-based compensation expense	12,617	13,206
Allowance for expected credit losses	5,277	3,206
Change in fair value of business acquisition liabilities	6,352	167
Change in deferred income taxes	7,962	509
(Gain)/loss on disposal of assets, net	2,449	2,613
Payment of business acquisition-related liabilities	(2,273)	(2,012)
Net (gain)/loss from foreign currency adjustment	98	(3,772)
(Increase) decrease in:
Accounts receivable	(13,399)	22,603
Inventories	(16,651)	(7,587)
Prepaid expenses and other assets	6,942	4,534
Increase (decrease) in:
Accounts payable	5,082	(899)
Accrued expenses and other liabilities	(24,668)	(28,658)
Income taxes payable/receivable	14,576	19,608
Net cash provided by/(used in) operating activities	202,364	177,300
Cash flows from investing activities:
Purchases of marketable securities	(146,393)	(1,750)
Sales and maturities of marketable securities	8,243	174,238
Purchases of property and equipment	(39,615)	(36,103)
Acquisition of businesses, net of cash acquired and purchases of intangible and other assets	(4,909)	(5,000)
Net cash provided by/(used in) investing activities	(182,674)	131,385
Cash flows from financing activities:
Payment of business acquisition-related liabilities	(4,324)	(3,890)
Net proceeds from exercise of stock options	25,961	11,223
Payments related to tax withholdings for share-based compensation	(3,440)	(2,293)
Repurchase of common stock	0	(190,451)
Repayment of senior convertible notes	0	(449,985)
Net cash provided by/(used in) financing activities	18,197	(635,396)
Effect of foreign exchange rates on cash	(3,093)	3,539
Net increase/(decrease) in cash and cash equivalents	34,794	(323,172)
Cash and cash equivalents at beginning of period	526,156	784,438	$ 784,438
Cash and cash equivalents at end of period	560,950	461,266	$ 526,156
Supplemental disclosures of cash flow information:
Income taxes paid, net	5,991	7,199
Non-cash investing and financing activities:
Accrued purchases of property and equipment	$ 10,517	$ 10,014

STOCK-BASED AWARDS - Schedule of Performance-Based Restricted Stock Unit Activity (Details) - PRSU's shares in Thousands	3 Months Ended
	Mar. 31, 2026 $ / shares shares
Units
Outstanding, beginning balance (in shares) \| shares	12
Granted (in shares) \| shares	0
Vested (in shares) \| shares	(2)
Forfeited (in shares) \| shares	(1)
Outstanding, ending balance (in shares) \| shares	9
Weighted ‎average ‎grant date fair value ‎per share
Outstanding, beginning balance (in USD per share) \| $ / shares	$ 62.15
Granted (in USD per share) \| $ / shares	0
Vested (in USD per share) \| $ / shares	54.10
Forfeited (in USD per share) \| $ / shares	54.10
Outstanding, ending balance (in USD per share) \| $ / shares	$ 64.89
Weighted ‎average ‎remaining ‎contractual ‎life (years)	1 year 6 months

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Accounts receivable, allowances	$ 40,933	$ 33,434
Common stock, shares authorized (in shares)	775,000,000
Class A ‎Common Stock
Common stock, par value (in USD per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	113,236,099	112,625,126
Common stock, shares outstanding (in shares)	113,236,099	112,625,126
Class B ‎Common Stock
Common stock, par value (in USD per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	275,000,000	275,000,000
Common stock, shares issued (in shares)	22,430,097	22,430,097
Common stock, shares outstanding (in shares)	22,430,097	22,430,097

ASSET ACQUISITIONS AND BUSINESS COMBINATIONS (Tables)

3 Months Ended

Mar. 31, 2026

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Schedule of Aggregate Consideration of Merger

The aggregate consideration in connection with the closing of the Nevro Merger was as follows:


(In thousands, except share and per share values)
Nevro shares outstanding as of April 3, 2025	38,383
Price paid per share	$	5.85
Total consideration paid for outstanding common stock of Nevro	$	224,538
Repayment of Nevro’s term loans, warrants, and other transaction costs	18,515
Fair value of cash settled equity awards	9,493
Total purchase price	$	252,546

Schedule of Preliminary Purchase Price

The following table summarizes the final purchase price allocation for the Nevro Merger as of March 31, 2026:


(In thousands)	Preliminary Purchase Price Allocation as of April 3, 2025		Measurement Period and Other Adjustments		Purchase Price Allocation as of December 31, 2025 (as adjusted)		Measurement Period and Other Adjustments		Final Purchase Price Allocation
Current assets (excluding accounts receivable and inventories)	$	10,328	$	—	$	10,328	$	—	$	10,328
Accounts receivable	70,754		—		70,754		—		70,754
Inventories	115,416		1,400		116,815		—		116,815
Property and equipment	29,051		—		29,051		(337)		28,714
Operating lease right of use assets	12,269		—		12,269		—		12,269
Intangible assets	53,600		2,400		56,000		—		56,000
Other long-term assets	4,223		—		4,223		(2,080)		2,143
Deferred income taxes	141,510		3,343		144,853		2,669		147,522
Total Assets	$	437,150	$	7,143	$	444,293	$	252	$	444,545

Current liabilities (excluding operating lease liabilities)	$	46,880	$	—	$	46,880	$	(866)	$	46,014
Operating lease liabilities, including current portion	27,163		—		27,163		—		27,163
Total liabilities	$	74,043	$	—	$	74,043	$	(866)	$	73,177

Fair value of acquired identifiable assets and liabilities	$	363,107	$	7,143	$	370,250	$	1,118	$	371,368
Less: Purchase price	$	252,546	$	—	$	252,546	$	—	$	252,546
Bargain purchase gain	$	110,561	$	7,143	$	117,704	$	1,118	$	118,822

Schedule of Estimated Fair Value of Identifiable Assets Acquired


(In thousands)	Fair Value as of March 31, 2026		Useful Life
Developed technology	$	36,000	7
Customer relationships	11,500		10
Trade names	8,500		15

- Definition

Tabular disclosure of business combination. Includes, but is not limited to, recognized asset and liability.

+ References + Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

3 Months Ended

Mar. 31, 2026

Accounting Policies [Abstract]

Basis of Presentation

Principles of Consolidation

Variable Interest Entities

Use of Estimates

Revenue Recognition

Contract Balances

The changes to contract liabilities related to deferred revenue for the quarter are as follows:


(In thousands)	Three Months Ended March 31, 2026
Beginning contract liabilities	$	36,914
Revenue recognized from contract liabilities	(9,777)
Advance consideration received during the period	7,760
Ending contract liabilities	$	34,897

Marketable Securities

Goodwill and Intangible Assets

Derivative Financial Instruments

Accounts Receivable and Related Valuation Accounts

Recently Issued and Adopted Accounting Pronouncements

Recently Issued Accounting Pronouncements

(j)Recently Adopted Accounting Pronouncements

EQUITY

3 Months Ended

Mar. 31, 2026

Equity [Abstract]

EQUITY

Share Repurchases

On May 15, 2025, our Board of Directors (the “Board”) approved a new share repurchase program that authorizes the Company to repurchase $500.0 million of the Company’s Class A Common Stock (“Class A Common”). Repurchases may be made through privately negotiated transactions or open market transactions, including pursuant to a trading plan in accordance with Rule 10b5-1 and/or Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The repurchase program has no time limit and may be suspended for periods or discontinued at any time.

The Company repurchased no shares during the three months ended March 31, 2026. As of March 31, 2026, the Company had a remaining authorization to repurchase a total of $390.0 million of the Company’s Class A Common.

Shares repurchased by the Company are accounted for under the constructive retirement method, in which the shares repurchased are immediately retired, as there is no plan to reissue the shares. The value of the retired shares includes the 1% excise tax accrual as a result of the Inflation Reduction Act of 2022. The Company made an accounting policy election to charge the excess of repurchase price over par value entirely to retained earnings.

Common Stock

Our Amended and Restated Certificate of Incorporation provides for a total of 775,000,000 authorized shares of common stock. Of the authorized number of shares of common stock, 500,000,000 shares are designated as Class A Common, and 275,000,000 shares are designated as the Class B Common Stock (“Class B Common”).

The holders of Class A Common are entitled to one vote for each share of Class A Common held. The holders of Class B Common are entitled to 10 votes for each share of Class B Common held. Each share of our Class B Common is convertible at any time at the option of the holder into one share of our Class A Common. In addition, each share of our Class B Common will convert automatically into one share of our Class A Common upon any transfer, whether or not for value, except for permitted transfers. For more details relating to the conversion of our Class B Common please see “Description of Securities of the Registrant” filed as Exhibit 4.2 to our Annual Report on Form 10-K filed with the SEC on February 24, 2026. The holders of Class A Common and Class B Common vote together as one class of common stock. Except for voting rights, the Class A Common and Class B Common have the same rights and privileges.

Accumulated Other Comprehensive Income (Loss)


(In thousands)	Unrealized loss on marketable securities, net of tax		Foreign currency translation adjustments		Accumulated other comprehensive loss
Accumulated other comprehensive income/(loss), net of tax, at December 31, 2025	$	131	$	15,215	$	15,346
Other comprehensive income/(loss) before reclassifications	(981)		218		(763)
Amounts reclassified from accumulated other comprehensive income/(loss), net of tax	(179)		—		(179)
Other comprehensive income/(loss), net of tax	(1,160)		218		(942)
Accumulated other comprehensive income/(loss), net of tax, at March 31, 2026	$	(1,029)	$	15,433	$	14,404


(In thousands)	Unrealized loss on marketable securities, net of tax		Foreign currency translation adjustments		Accumulated other comprehensive loss
Accumulated other comprehensive income/(loss), net of tax, at December 31, 2024	$	(317)	$	(6,544)	$	(6,861)
Other comprehensive income/(loss) before reclassifications	416		4,379		4,795
Amounts reclassified from accumulated other comprehensive income/(loss), net of tax	(101)		—		(101)
Other comprehensive income/(loss), net of tax	315		4,379		4,694
Accumulated other comprehensive income/(loss), net of tax, at March 31, 2025	$	(2)	$	(2,165)	$	(2,167)

Amounts reclassified from accumulated other comprehensive loss, net of tax, related to unrealized gains/losses on marketable securities were released to other income, net in our condensed consolidated statements of operations and comprehensive income.

Earnings Per Common Share

The Company computes basic earnings per share using the weighted-average number of common shares outstanding during the period. Diluted earnings per share assumes the conversion, exercise or issuance of all potential common stock equivalents, unless the effect of inclusion is anti-dilutive. For purposes of this calculation, common stock equivalents include the Company’s stock options, unvested RSUs, and performance-based restrictive stock units (“PRSUs”). These are included in basic net income per share as of the date that all necessary conditions have been satisfied and are included in the denominator for dilutive calculation for the entire period if such shares would be issuable as of the end of the reporting period assuming the end of the reporting period was the end of the contingency period.

The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, 2026 and 2025, respectively:


	Three Months Ended March 31,
(In thousands, except per share amounts)	2026		2025
Numerator:
Net income/(loss) for basic	$	124,301	$	75,462
Denominator for basic and diluted net income per share:
Weighted average shares outstanding for basic	135,364		136,757
Dilutive stock options, RSUs, and PRSUs	2,826		3,017
Weighted average shares outstanding for diluted	138,191		139,774
Earnings per share:
Basic	$	0.92	$	0.55
Diluted	$	0.90	$	0.54

Anti-dilutive stock options and RSUs excluded from the calculation	3,194		3,049
Anti-dilutive warrants excluded from the calculation	—		3,618
Total	$	3,194	$	6,667

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2026

Accounting Policies [Abstract]

Schedule of Changes to Contract Liabilities Related to Deferred Revenue

The changes to contract liabilities related to deferred revenue for the quarter are as follows:


(In thousands)	Three Months Ended March 31, 2026
Beginning contract liabilities	$	36,914
Revenue recognized from contract liabilities	(9,777)
Advance consideration received during the period	7,760
Ending contract liabilities	$	34,897

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Class A ‎Common Stock	Class B ‎Common Stock	Common stock Class A ‎Common Stock	Common stock Class B ‎Common Stock	Additional paid-in capital	Accumulated other comprehensive income/(loss)	Retained earnings
Beginning balance (in shares) at Dec. 31, 2024				114,990,000	22,430,000
Beginning balance at Dec. 31, 2024	$ 4,177,333			$ 115	$ 22	$ 3,031,244	$ (6,861)	$ 1,152,813
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	13,324					13,324
Grant of contingent restricted stock units	429					429
Exercise of stock options (in shares)				309,000
Exercise of stock options	11,223					11,223
Issuance of Class A common stock under employee and director equity option plans, net (in shares)				72,000
Issuance of Class A common stock under employee and director equity option plans, net	(2,293)					(2,293)
Comprehensive income/(loss)	80,156						4,694	75,462
Repurchase and retirement of common stock (in shares)				(2,445,000)
Repurchase and retirement of common stock	(192,104)			$ (2)				(192,102)
Ending balance (in shares) at Mar. 31, 2025				112,926,000	22,430,000
Ending balance at Mar. 31, 2025	4,088,068			$ 113	$ 22	3,053,927	(2,167)	1,036,173
Beginning balance (in shares) at Dec. 31, 2025		112,625,126	22,430,097	112,625,000	22,430,000
Beginning balance at Dec. 31, 2025	4,573,250			$ 113	$ 22	3,169,812	15,346	1,387,957
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	12,788					12,788
Grant of contingent restricted stock units	$ 393					393
Exercise of stock options (in shares)	515,000			515,000
Exercise of stock options	$ 25,961					25,961
Issuance of Class A common stock under employee and director equity option plans, net (in shares)				96,000
Issuance of Class A common stock under employee and director equity option plans, net	(3,440)					(3,440)
Comprehensive income/(loss)	123,360						(942)	124,302
Ending balance (in shares) at Mar. 31, 2026		113,236,099	22,430,097	113,236,000	22,430,000
Ending balance at Mar. 31, 2026	$ 4,732,312			$ 113	$ 22	$ 3,205,514	$ 14,404	$ 1,512,259

RESTRUCTURING AND OTHER COSTS - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Restructuring Cost and Reserve [Line Items]
Stock-based compensation expense	$ 12,617,000	$ 13,206,000
2025 Strategic Integration Plan
Restructuring Cost and Reserve [Line Items]
Stock-based compensation expense	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

SEGMENT AND GEOGRAPHIC INFORMATION - Narrative (Details)	3 Months Ended
	Mar. 31, 2026 segment
Segment Reporting [Abstract]
Number of operating segments	2
Number of reportable segments	1

PROPERTY AND EQUIPMENT (Tables)

3 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment included the following as of March 31, 2026 and December 31, 2025, respectively:


(In thousands)	Useful Life	March 31,		December 31,
	(in years)	2026		2025
Land	—	$	10,830	$	10,849
Buildings and improvements	31.5	127,833		127,573
Equipment	5-15	258,963		258,475
Instruments, modules, and cases	5	834,615		813,488
Other property and equipment	3-5	72,480		59,067
		1,304,721		1,269,452
Less: accumulated depreciation and amortization		(747,582)		(705,000)
Total		$	557,139	$	564,452

Schedule of Depreciation to Property and Equipment

Depreciation expense related to property and equipment was as follows during the three months ended March 31, 2026 and 2025, respectively:


	Three Months Ended March 31,
(In thousands)	2026		2025
Depreciation	$	40,595	$	37,272

STOCK-BASED AWARDS - Schedule of Restricted Stock Unit Activity (Details) - Restricted Stock Units shares in Thousands	3 Months Ended
	Mar. 31, 2026 $ / shares shares
Units
Outstanding, beginning balance (in shares) \| shares	303
Granted (in shares) \| shares	4
Vested (in shares) \| shares	(130)
Forfeited (in shares) \| shares	(1)
Outstanding, ending balance (in shares) \| shares	176
Weighted ‎average ‎grant date fair value
Outstanding, beginning balance (in USD per share) \| $ / shares	$ 59.56
Granted (in USD per share) \| $ / shares	91.57
Vested (in USD per share) \| $ / shares	54.10
Forfeited (in USD per share) \| $ / shares	54.10
Outstanding, ending balance (in USD per share) \| $ / shares	$ 64.36
Weighted ‎average ‎remaining ‎contractual ‎life (years)	4 years 8 months 12 days

INVENTORIES - Schedule of Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Inventory Disclosure [Abstract]
Raw materials	$ 163,831	$ 162,247
Work in process	69,687	64,462
Finished goods	539,084	532,568
Total inventories	$ 772,602	$ 759,277

STOCK-BASED AWARDS - Narrative (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2026 USD ($) plan $ / shares shares	Mar. 31, 2025 USD ($) $ / shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of stock plans \| plan	4
Granted (in shares)	1,462,000
Intrinsic value of stock options exercised \| $	$ 22.0	$ 12.2
Unrecognized compensation expense \| $	$ 129.4
Weighted average period of recognition, unvested stock options	2 years 10 months 24 days
Stock Options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average grant date fair value per share (in USD per share) \| $ / shares	$ 36.40	$ 36.40
Minimum \| PRSU's
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share payout levels, percentage	0.00%
Maximum \| PRSU's
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share payout levels, percentage	100.00%
2012 Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted (in shares)	0
2021 Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares issuable under stock plan (in shares)	11,000,000
2021 Plan \| Class A ‎Common Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Reserved under stock based plans (in shares)	13,004,450
Number of shares available for grant	3,446,584
2021 Plan \| Stock Options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expiration period	10 years
Award vesting period	4 years
2021 Plan \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares authorized	11,000,000
NuVasive 2014 Plan \| Class A ‎Common Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Reserved under stock based plans (in shares)	450
Number of shares available for grant	0
Ellipse 2015 Plan \| Class A ‎Common Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Reserved under stock based plans (in shares)	8,861
Number of shares available for grant	0

SEGMENT AND GEOGRAPHIC INFORMATION - Schedule of Total Net Sales and Total Property and Equipment by Geographical Area (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 759,854	$ 598,121
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	604,888	483,857
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 154,966	$ 114,264

- Definition

+ References

+ Details

RESTRUCTURING AND OTHER COSTS

3 Months Ended

Mar. 31, 2026

Restructuring and Related Activities [Abstract]

RESTRUCTURING AND OTHER COSTS

The Company recorded employee termination benefits as a part of the 2024 Synergy Plan and 2025 Strategic Integration Plan. The 2024 Synergy Plan was designed to optimize the organizational structure of Globus by reducing the size of our workforce. Impacted employees were notified during the first and third quarters of 2024 and the second quarter of 2025.

The 2025 Strategic Integration Plan was implemented to streamline operations. Impacted employees were notified during the second quarter of 2025 and the first quarter of 2026.

Totals include stock-based compensation expense, classified in accordance with ASC Topic 420, Exit or Disposal Cost Obligations, where applicable.

The 2024 Synergy Plan

The following table provides a summary of the recognized pre-tax costs for the three months ended March 31, 2026 and 2025, respectively:


	Three Months Ended March 31,
(In thousands)	2026		2025
Research and Development	—		96
Selling, General and Administrative	3		58
Restructuring Costs	1,591		—
Total restructuring and other costs	$	1,594	$	154

The following table provides a summary of activity related to the restructuring program for the three months ended March 31, 2026 and 2025, respectively:


	Three Months Ended March 31,
(In thousands)	2026		2025
Beginning Balance	$	61	$	2,747
Net Charges	1,594		154
Cash Payments	(419)		(1,525)
Settled non-cash (a)	(3)		(154)
Ending Balance	$	1,233	$	1,222

(a)Represents share-based compensation settled without cash payments.

The 2025 Strategic Integration Plan

There was no stock-based compensation expense included below. The following table provides a summary of the recognized pre-tax costs for the three months ended March 31, 2026 and 2025, respectively:


	Three Months Ended March 31,
(In thousands)	2026		2025
Restructuring Costs	$	3,621	$	—

The following table provides a summary of activity related to the restructuring program for the three months ended March 31, 2026 and 2025, respectively:


	Three Months Ended March 31,
(In thousands)	2026		2025
Beginning Balance	$	581	$	—
Net charges	3,621		—
Cash Payments	(1,795)		—
Foreign currency impact	(10)		—
Ending Balance	$	2,397	$	—