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GLOBUS MEDICAL Globus Medical Reports Second Quarter 2021 Results August 4 , 2021 AUDUBON , Pa . , Aug. 04 , 2021 ( GLOBE NEWSWIRE ) Globus Medical , Inc. ( NYSE : GMED ) , a leading musculoskeletal solutions company , today announced its financial results for the quarter ended June 30 , 2021 . • Worldwide net sales were $ 251.0 million , an increase of 68.6 % as compared to the second quarter of 2020 • GAAP net income for the quarter was $ 41.5 million , or 16.6 % of net sales , which is an increase of 299.4 % as compared to the second quarter of 2020 • GAAP diluted earnings per share ( " EPS " ) was $ 0.40 and non - GAAP diluted EPS was $ 0.56 • Non - GAAP adjusted EBITDA was $ 87.8M , or 35.0 % of net sales " Revenue in the second quarter was a record $ 251 million , an increase of 69 % over the second quarter of 2020 , as we continue to capture market share , " said Dave Demski , President and CEO . " Our U.S. Spine business grew by almost 64 % over the second quarter of 2020 , and by 30 % over the second quarter of 2019. Pull through from robotics ; contributions from new product introductions ; a resurgence in our biologics business ; and competitive recruiting were all factors driving growth . Enabling Technologies revenue was $ 21 million , nearly 4x the second quarter of 2020 , marking our third consecutive quarter of strong year - over - year growth . " Worldwide net sales for the second quarter of 2021 was $ 251.0 million , an as - reported increase of 68.6 % over the second quarter of 2020 , or an increase of 67.9 % on a constant currency basis . U.S. net sales for the second quarter of 2021 , including robotics , increased by 71.9 % compared to the second quarter of 2020. International net sales for the second quarter of 2021 increased by 51.0 % over the second quarter of 2020 as - reported and increased 47.1 % on a constant currency basis . GAAP net income for the second quarter of 2021 was $ 41.5 million , an increase of 299.4 % over the same period last year . GAAP diluted EPS for the second quarter of 2021 was $ 0.40 , compared to ( $ 0.21 ) for the second quarter 2020. Non - GAAP diluted EPS for the second quarter of 2021 was $ 0.56 , compared to $ 0.07 in the second quarter of 2020 , an increase of 691.2 % . The Company generated net cash from operating activities of $ 59.2 million and non - GAAP free cash flow of $ 50.8 million during the second quarter of 2021. Cash , cash equivalents and marketable securities were $ 914.2 million as of June 30 , 2021. The Company remains debt free . 2021 Annual Guidance The Company today increased guidance for full year 2021 net sales from $ 925 million to $ 950 million and non - GAAP diluted earnings per share of $ 1.89 to $ 2.00 . Conference Call Information Globus Medical will hold a teleconference to discuss its second quarter 2021 results with the investment community at 4:30 p.m. Eastern Time today . Globus invites all interested parties to join the call by dialing : 1-877-313-2501 United States Participants 1-929-517-0907 International Participants There is no pass code for the teleconference . For interested parties who do not wish to ask questions , the teleconference will be webcast live and may be accessed through a link on the Globus Medical website at www.globusmedical.com/investors . The call will be archived until Wednesday , August 11 , 2021. The audio archive can be accessed by calling 1-855-859-2056 in the U.S. or 1-404-537-3406 from outside the U.S. The passcode for the audio replay is 136-3916 . About Globus Medical , Inc. Globus Medical , Inc. is a leading musculoskeletal solutions company based in Audubon , PA . The company was founded in 2003 by an experienced team of professionals with a shared vision to create products that enable surgeons to promote healing in patients with musculoskeletal disorders . Additional information can be accessed at www.globusmedical.com . Non - GAAP Financial Measures To supplement our financial statements prepared in accordance with U.S. generally accepted accounting principles ( " U.S. GAAP " ) , management uses certain non - GAAP financial measures . For example , non - GAAP Adjusted EBITDA , which represents net income before interest income , net and other non - operating expenses , provision for income taxes , depreciation and amortization , stock - based compensation expense , provision for litigation , acquisition related costs / licensing , and acquisition of in - process research and development , is useful as an additional measure of operating