Filing Flows › Conmed (CNMD) › Q4 2025
Conmed (CNMD) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 17, 2026
Conmed (CNMD) reported revenue of $373M for the fourth quarter 2025 (Q4 2025), +8% from a year earlier and +10% from the quarter before. Operating margin was 9.8%, net earnings $16.7M (4.5% of revenue).
Conmed, Q4 2025: revenue $373M (+8% year over year), operating margin 9.8%, net earnings $16.7M, operating cash flow $46.3M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $373M | +10% | +8% |
| Gross profit | $218M | +31% | +10% |
| Operating profit | $36.6M | +208% | -30% |
| Net earnings | $16.7M | +485% | -50% |
| Operating cash flow | $46.3M | -14% | +7% |
| Free cash flow | $41.2M | -15% | +5% |
What changed
Revenue was $373.2M in Q4 2025, up 8% year over year and up 10% from the previous quarter. General Surgery was the largest line at 58% of revenue.
Gross margin was 58.5%, up 1.2 points from a year earlier. Operating profit was $36.6M, a 9.8% margin (down 5.4 points year over year). Operating profit fell $15.9M even though revenue rose $27.3M versus a year earlier, so costs grew faster than sales. Operating expenses grew 25% against revenue growth of 8%. The fastest-growing cost line was SG&A (+26%). Net earnings were $16.7M, down 50% year over year. The effective tax rate was 42.8%.
Operating cash flow was $46.3M (up 7% year over year), 277% of net earnings. Non-cash charges added back $13.2M of depreciation and amortization and $5.0M of share-based compensation. Working capital and other items added $11.5M. Capital expenditures of $5.1M left free cash flow of $41.2M.
Questions
What was Conmed's revenue in the fourth quarter 2025?
Conmed (CNMD) reported revenue of $373M for the fourth quarter 2025 (Q4 2025), +8% from a year earlier and +10% from the quarter before.
Was Conmed profitable in the fourth quarter 2025?
Operating profit was $36.6M (9.8% of revenue) and net earnings $16.7M.
Source: Conmed 10-K on SEC EDGAR.