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GLOBUS MEDICAL Globus Medical Reports Third Quarter 2021 Results November 4 , 2021 AUDUBON , Pa . , Nov. 04 , 2021 ( GLOBE NEWSWIRE ) -- Globus Medical , Inc. ( NYSE : GMED ) , a leading musculoskeletal solutions company , today announced its financial results for the quarter ended September 30 , 2021 . • Worldwide net sales were $ 229.7 million , an increase of 6.3 % as compared to the third quarter of 2020 • GAAP net income for the quarter was $ 47.2 million , or 20.6 % of net sales , which is an increase of 6.8 % as compared to the third quarter of 2020 • GAAP diluted earnings per share ( " EPS " ) was $ 0.45 and non - GAAP diluted EPS was $ 0.50 • Non - GAAP adjusted EBITDA was $ 78.3 million , or 34.1 % of net sales " Revenue in the third quarter was $ 230 million , an increase of more than 6 % over the third quarter of 2020 , as we continue to capture market share and perform well above our peers , " said Dave Demski , President and CEO . " Our strong revenue performance in the quarter , in spite of continuing COVID - related headwinds , combined with growing momentum in Enabling Technology ; our best recruiting quarter in over a year ; and FDA 510 ( k ) clearances for Excelsius3DTM and ExcelsiusHUBTM provide the platform for growth acceleration into 2022 and beyond . " Worldwide net sales for the third quarter of 2021 was $ 229.7 million , an as - reported increase of 6.3 % over the third quarter of 2020. U.S. net sales for the third quarter of 2021 , including robotics , increased by 8.8 % compared to the third quarter of 2020. International net sales for the third quarter of 2021 decreased by 7.2 % over the third quarter of 2020 . GAAP net income for the third quarter of 2021 was $ 47.2 million , an increase of 6.8 % over the same period last year . GAAP diluted EPS for the third quarter of 2021 was $ 0.45 , compared to $ 0.44 for the third quarter 2020. Non - GAAP diluted EPS for the third quarter of 2021 was $ 0.50 , compared to $ 0.49 in the third quarter of 2020 , an increase of 3.3 % . The Company generated net cash from operating activities of $ 77.3 million and non - GAAP free cash flow of $ 59.5 million during the third quarter of 2021. Cash , cash equivalents and marketable securities were $ 985.0 million as of September 30 , 2021. The Company remains debt free . 2021 Annual Guidance The Company today reaffirmed its full year 2021 guidance of $ 950 million in net sales and non - GAAP diluted earnings per share of $ 2.00 . Conference Call Information Globus Medical will hold a teleconference to discuss its third 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 Thursday , November 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 107-3064 . 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 performance , and particularly as a measure of comparative operating performance from period to period , as it is reflective of changes in pricing decisions , cost controls and other factors that affect operating performance , and it removes the effect of our capital structure , asset base , income