Filing Flows › Boston Scientific (BSX) › Q2 2025
Boston Scientific (BSX) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 1, 2025
Boston Scientific (BSX) reported revenue of $5.1B for the second quarter 2025 (Q2 2025), +23% from a year earlier and +9% from the quarter before. Operating margin was 16.2%, net earnings $795M (15.7% of revenue).
Boston Scientific, Q2 2025: revenue $5.1B (+23% year over year), operating margin 16.2%, net earnings $795M, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.1B | +9% | +23% |
| Gross profit | $3.4B | +7% | +20% |
| Operating profit | $819M | -11% | +57% |
| Net earnings | $795M | +18% | +147% |
| Operating cash flow | $1.3B | +138% | +58% |
| Free cash flow | $1.1B | +219% | +72% |
What changed
Revenue was $5.1B in Q2 2025, up 23% year over year and up 9% from the previous quarter. Electrophysiology was the largest line at 17% of revenue. Electrophysiology added $0.41B year over year (up 96%), 44% of the total change.
Gross margin was 67.7%, down 1.5 points from a year earlier. Operating profit was $0.82B, a 16.2% margin (up 3.6 points year over year). Of the extra revenue versus a year earlier, 32% reached operating profit, above the 13% margin then. Operating expenses grew 12% against revenue growth of 23%. The fastest-growing cost line was Research & development (+37%). Net earnings were $0.80B, up 146% year over year. The effective tax rate was 15.5%.
Operating cash flow was $1.3B (up 58% year over year), 162% of net earnings. Non-cash charges added back $0.34B of depreciation and amortization and $0.07B of share-based compensation. Working capital and other items added $0.08B. Capital expenditures of $0.16B left free cash flow of $1.1B.
Questions
What was Boston Scientific's revenue in the second quarter 2025?
Boston Scientific (BSX) reported revenue of $5.1B for the second quarter 2025 (Q2 2025), +23% from a year earlier and +9% from the quarter before.
Was Boston Scientific profitable in the second quarter 2025?
Operating profit was $819M (16.2% of revenue) and net earnings $795M.
Source: Boston Scientific 10-Q on SEC EDGAR.