Enovis (ENOV) 2026 CG Musculoskeletal Conference summary

Financial performance and guidance

• Achieved 6% overall growth in 2025, with double-digit gains in extremities and international reconstruction, and PNR segment growing at twice the market rate.

• Maintained margins despite unexpected tariffs, with a 40 basis point impact mitigated through operational efforts.

• Reduced leverage to just over 3x and generated positive cash flow in 2025.

• 2026 guidance includes low single-digit growth for PNR, high single-digit for recon, 50 basis point margin improvement, and free cash flow conversion of 25% or more.

Strategic priorities and leadership

• New CEO Damian has focused on commercial execution, operating excellence, and financial discipline.

• Leadership changes and a disciplined approach aim to drive innovation and execution.

• Over 20 acquisitions in recent years have built a strong foundation for future growth.

R&D and product innovation

• R&D investment increased as a percentage of sales, driving a 50% increase in 510(k) clearances in FY25 over the best prior year.

• Acquisitions have brought in significant R&D talent and capabilities, supporting a robust future portfolio.