Filing Flows › Health Care › Conmed (CNMD)
Conmed (CNMD) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 28, 2026 · Conmed (CNMD) Q3 2026 earnings results →
Q3 2026 Revenue down 1% year over year to $336M · 6¢ of every $1 of revenue kept as net profit · operating margin 11.1%
Conmed made $336M in Q3 2026 (-0.7% Y/Y): General Surgery $187M, Orthopedic Surgery $149M. Operating margin 11.1%, net earnings $19.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 28, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $335.6M in Q3 2026, down 1% year over year and down 2% from the previous quarter. General Surgery was the largest line at 56% of revenue. General Surgery lost $13.0M year over year (down 7%), 549% of the total change.
Gross margin was 56.4%, up 7.2 points from Q3 2025. Operating profit was $37.1M, a 11.1% margin (up 7.6 points year over year). Operating expenses fell 1% while revenue fell 1%. The fastest-growing cost line was Research & development (+12%). Net earnings were $19.8M, up 592% year over year. The effective tax rate was 23.9%.
Operating cash flow was $49.4M (down 8% year over year), 250% of net earnings. Non-cash charges added back $12.8M of depreciation and amortization and $5.9M of share-based compensation. Working capital and other items added $10.9M. Capital expenditures of $2.7M left free cash flow of $46.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 28, 2026 | $336M | -0.7% | 11.1% | $19.8M | $49.4M |
| Q2 2026 | 10-Q | Jul 29, 2026 | $343M | +0.3% | 10.6% | $23.1M | $37.1M |
| Q1 2026 | 10-Q | Apr 30, 2026 | $317M | -1% | 8.0% | $13.8M | $13.5M |
| Q4 2025 | 10-K | Feb 17, 2026 | $373M | +8% | 9.8% | $16.7M | $46.3M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $338M | +7% | 3.5% | $2.9M | $53.7M |
| Q2 2025 | 10-Q | Jul 31, 2025 | $342M | +3% | 11.1% | $21.4M | $29.1M |
| Q1 2025 | 10-Q | May 1, 2025 | $321M | +3% | 5.0% | $6.0M | $41.5M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
About Conmed
This Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (“Form 10-K”) contains certain forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) and information relating to CONMED Corporation (“CONMED”, the “Company”, “we” or “us” — references to “CONMED”, the “Company”, “we” or “us” shall be deemed to include our direct and indirect subsidiaries unless the context otherwise requires) which are based on the beliefs of our management, as well as assumptions made by and information currently available to our management.
In its own words, from its 10-K, filed Feb 17, 2026.
Conmed against its Electromedical & Electrotherapeutic Apparatus peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -0.7% against the peers' median +14%. Operating margin: 11.1% against the peers' median 6.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CNMD Conmed | Q3 2026 | $336M | -0.7% | 11.1% |
| MDT Medtronic | Q1 FY27 | $9.8B | +14% | 18.1% |
| ITGR Integer Holdings | Q3 2026 | $450M | -4% | 6.3% |
| LIVN LivaNova | Q3 2026 | $393M | +10% | 7.2% |
| TMDX TransMedics Group | Q3 2026 | $203M | +41% | 13.9% |
| AXGN Axogen | Q3 2026 | $75.8M | +26% | 1.3% |
| OM Outset Medical | Q3 2026 | $33.6M | +14% | -36.5% |
| CBLL Ceribell | Q3 2026 | $29.3M | +30% | -70.0% |
| BLFS Biolife Solutions | Q2 2026 | $28.5M | +22% | 6.0% |
Source: Conmed 10-Q on SEC EDGAR · CIK 816956 · Electromedical & Electrotherapeutic Apparatus
Guidance and outlook
13F: who owns CNMD and who is buying
More on CNMD
- How Conmed makes money: revenue by segment
- Conmed next earnings date and what analysts expect
- Conmed stock forecast, price target and fair value
- Who owns Conmed stock: holders, funds and Congress trades
- Conmed guidance and outlook
- Is Conmed a takeover target? LBO and rumors
- Conmed recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Conmed guidance history: guided vs reported
- Conmed gross margin by quarter
- Conmed operating margin by quarter
- Conmed net income by quarter
- Conmed free cash flow by quarter
- Conmed R&D spending by quarter
- Conmed capital expenditures by quarter
- Conmed General Surgery revenue by quarter
- Conmed Orthopedic Surgery revenue by quarter