Filing Flows › Boston Scientific (BSX) › Q3 2025
Boston Scientific (BSX) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 3, 2025
Boston Scientific (BSX) reported revenue of $5.1B for the third quarter 2025 (Q3 2025), +20% from a year earlier and +0.1% from the quarter before. Operating margin was 20.7%, net earnings $755M (14.9% of revenue).
Boston Scientific, Q3 2025: revenue $5.1B (+20% year over year), operating margin 20.7%, net earnings $755M, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.1B | +0.1% | +20% |
| Gross profit | $3.5B | +3% | +22% |
| Operating profit | $1.0B | +28% | +43% |
| Net earnings | $755M | -5% | +61% |
| Operating cash flow | $1.3B | +4% | +34% |
| Free cash flow | $1.2B | +3% | +41% |
What changed
Revenue was $5.1B in Q3 2025, up 20% year over year and roughly flat from the previous quarter. Electrophysiology was the largest line at 17% of revenue. Electrophysiology added $0.34B year over year (up 64%), 39% of the total change.
Gross margin was 69.9%, up 1.1 points from a year earlier. Operating profit was $1.0B, a 20.7% margin (up 3.3 points year over year). Of the extra revenue versus a year earlier, 37% reached operating profit, above the 17% margin then. Operating expenses grew 15% against revenue growth of 20%. The fastest-growing cost line was Research & development (+26%). Net earnings were $0.76B, up 61% year over year. The effective tax rate was 19.5%.
Operating cash flow was $1.3B (up 34% year over year), 178% of net earnings. Non-cash charges added back $0.34B of depreciation and amortization and $0.08B of share-based compensation. Working capital and other items added $0.17B. Capital expenditures of $0.18B left free cash flow of $1.2B.
Questions
What was Boston Scientific's revenue in the third quarter 2025?
Boston Scientific (BSX) reported revenue of $5.1B for the third quarter 2025 (Q3 2025), +20% from a year earlier and +0.1% from the quarter before.
Was Boston Scientific profitable in the third quarter 2025?
Operating profit was $1.0B (20.7% of revenue) and net earnings $755M.
Source: Boston Scientific 10-Q on SEC EDGAR.