ZimVie Reports Second Quarter 2025 Financial Results
ZimVie (Nasdaq: ZIMV), a global dental implant market leader, has reported its Q2 2025 financial results and announced a definitive agreement to be acquired by ARCHIMED for $19.00 per share in cash. The company recorded net sales of $116.7 million from continuing operations, showing a slight decrease of 0.1% on a reported basis and 2.1% in constant currency compared to Q2 2024.
The company reported a net loss of $3.8 million, improving from a $9.6 million loss in Q2 2024, with the net loss margin improving to 3.3%. Adjusted EBITDA reached $17.5 million, representing a 15.0% margin, an increase of $1.6 million from the previous year. Upon completion of the ARCHIMED acquisition, expected by year-end 2025, ZimVie will become private and delist from NASDAQ.
ZimVie (Nasdaq: ZIMV), leader globale nel mercato degli impianti dentali, ha comunicato i risultati finanziari del secondo trimestre 2025 e ha annunciato un accordo definitivo per essere acquisita da ARCHIMED a 19,00 dollari per azione in contanti. La società ha registrato vendite nette per 116,7 milioni di dollari dalle operazioni continue, con una leggera diminuzione dello 0,1% su base segnalata e del 2,1% a valuta costante rispetto al secondo trimestre 2024.
La società ha riportato una perdita netta di 3,8 milioni di dollari, migliorando rispetto a una perdita di 9,6 milioni nel secondo trimestre 2024, con un margine di perdita netta che si è ridotto al 3,3%. L'EBITDA rettificato ha raggiunto i 17,5 milioni di dollari, pari a un margine del 15,0%, con un aumento di 1,6 milioni rispetto all'anno precedente. Al completamento dell'acquisizione da parte di ARCHIMED, previsto entro la fine del 2025, ZimVie diventerà una società privata e sarà rimossa dalla quotazione al NASDAQ.
ZimVie (Nasdaq: ZIMV), líder mundial en el mercado de implantes dentales, ha informado sus resultados financieros del segundo trimestre de 2025 y ha anunciado un acuerdo definitivo para ser adquirida por ARCHIMED por 19,00 dólares por acción en efectivo. La compañía registró ventas netas de 116,7 millones de dólares provenientes de operaciones continuas, mostrando una ligera disminución del 0,1% en términos reportados y del 2,1% en moneda constante en comparación con el segundo trimestre de 2024.
La empresa reportó una pérdida neta de 3,8 millones de dólares, mejorando desde una pérdida de 9,6 millones en el segundo trimestre de 2024, con un margen de pérdida neta que mejoró al 3,3%. El EBITDA ajustado alcanzó los 17,5 millones de dólares, representando un margen del 15,0%, un aumento de 1,6 millones respecto al año anterior. Tras la finalización de la adquisición por parte de ARCHIMED, prevista para finales de 2025, ZimVie se convertirá en una empresa privada y será retirada de la cotización en NASDAQ.
ZimVie (나스닥: ZIMV)는 글로벌 치과 임플란트 시장의 선두주자로서 2025년 2분기 재무 실적을 발표하고 ARCHIMED에 주당 19.00달러 현금으로 인수되는 확정 계약을 발표했습니다. 회사는 지속 영업에서 순매출 1억 1,670만 달러를 기록했으며, 이는 2024년 2분기 대비 보고 기준으로 0.1% 감소, 환율 변동을 고려한 상수 기준으로는 2.1% 감소한 수치입니다.
회사는 순손실 380만 달러를 보고했으며, 이는 2024년 2분기 960만 달러 손실에서 개선된 수치로, 순손실률은 3.3%로 개선되었습니다. 조정 EBITDA는 1,750만 달러에 달해 15.0%의 마진을 기록했으며, 전년 대비 160만 달러 증가했습니다. ARCHIMED 인수 완료 후, 2025년 말까지 ZimVie는 비상장사가 되어 NASDAQ 상장 폐지될 예정입니다.
ZimVie (Nasdaq : ZIMV), leader mondial sur le marché des implants dentaires, a publié ses résultats financiers du deuxième trimestre 2025 et annoncé un accord définitif pour être acquis par ARCHIMED au prix de 19,00 $ par action en espèces. La société a enregistré des ventes nettes de 116,7 millions de dollars issues des opérations continues, affichant une légère baisse de 0,1 % en données publiées et de 2,1 % en devises constantes par rapport au deuxième trimestre 2024.
La société a déclaré une perte nette de 3,8 millions de dollars, une amélioration par rapport à une perte de 9,6 millions au deuxième trimestre 2024, avec une marge de perte nette améliorée à 3,3 %. L'EBITDA ajusté a atteint 17,5 millions de dollars, soit une marge de 15,0 %, en hausse de 1,6 million par rapport à l'année précédente. Une fois l'acquisition par ARCHIMED finalisée, prévue d'ici la fin de 2025, ZimVie deviendra une société privée et sera retirée du NASDAQ.
ZimVie (Nasdaq: ZIMV), ein weltweit führender Anbieter im Bereich Dentalimplantate, hat seine Finanzergebnisse für das zweite Quartal 2025 veröffentlicht und eine verbindliche Vereinbarung über die Übernahme durch ARCHIMED zum Preis von 19,00 USD pro Aktie in bar angekündigt. Das Unternehmen erzielte Nettoerlöse von 116,7 Millionen USD aus fortgeführten Geschäftsbereichen, was einem leichten Rückgang von 0,1 % auf Berichtsbasis und 2,1 % bei konstanten Wechselkursen gegenüber dem zweiten Quartal 2024 entspricht.
Das Unternehmen meldete einen Nettoverlust von 3,8 Millionen USD, eine Verbesserung gegenüber einem Verlust von 9,6 Millionen USD im zweiten Quartal 2024, wobei sich die Nettoverlustmarge auf 3,3 % verbesserte. Das bereinigte EBITDA erreichte 17,5 Millionen USD und entspricht einer Marge von 15,0 %, was einem Anstieg von 1,6 Millionen USD gegenüber dem Vorjahr entspricht. Nach Abschluss der Übernahme durch ARCHIMED, die bis Ende 2025 erwartet wird, wird ZimVie ein privates Unternehmen und von der NASDAQ genommen.
- Net loss improved by $5.7 million year-over-year to $(3.8) million
- Adjusted EBITDA increased by $1.6 million to $17.5 million with margin improvement of 150 basis points
- Net loss margin improved by 490 basis points to (3.3%)
- ARCHIMED acquisition offers shareholders a clear exit opportunity at $19.00 per share
- Net sales decreased by 2.1% in constant currency year-over-year
- Company reported continued net losses of $(3.8) million
- Company withdrew fiscal 2025 guidance due to pending acquisition
- Stock will be delisted from NASDAQ following the acquisition
Insights
ZimVie's acquisition by ARCHIMED for $19.00/share represents a strategic private equity takeover amid mixed financial performance.
The pending acquisition of ZimVie by ARCHIMED for
While ZimVie reported a net loss of
The adjusted figures paint a more positive picture: adjusted EBITDA reached
This acquisition comes at a pivotal time for ZimVie as it focuses exclusively on the dental implant market after divesting other business segments. ARCHIMED, a private equity firm specializing in healthcare investments, likely sees potential to accelerate ZimVie's transformation and profitability improvements outside the public markets, leveraging the company's progress in operational efficiency despite flat revenue performance.
- Recently entered into definitive agreement to be acquired by ARCHIMED for
$19.00 in cash per share - Net Sales from Continuing Operations of
$116.7 million - Net Loss from Continuing Operations of
$(3.8) million ; Net Loss margin of (3.3)% - Adjusted EBITDA[1] from Continuing Operations of
$17.5 million ; Adjusted EBITDA[1] margin of15.0% - GAAP diluted EPS from Continuing Operations of
$(0.14) and adjusted diluted EPS[1] from Continuing Operations of$0.26
PALM BEACH GARDENS, Fla., July 30, 2025 (GLOBE NEWSWIRE) -- ZimVie Inc. (Nasdaq: ZIMV), a global life sciences leader in the dental implant market, today reported financial results for the quarter ended June 30, 2025.
“Our results this quarter reflect the strength of our people and their unwavering commitment to executing our strategy and delivering for our customers and stakeholders,” said Vafa Jamali, Chairman of the Board and Chief Executive Officer. “I would like to thank our entire team for their continued hard work and dedication.”
Second Quarter 2025 Financial Results: Continuing Operations
Net sales for the second quarter of 2025 were
Net loss for the second quarter of 2025 was
Adjusted net income[1] for the second quarter of 2025 was
Basic and diluted EPS were
Adjusted EBITDA[1] for the second quarter of 2025 was
[1] This is a non-GAAP financial measure. Refer to “Note on Non-GAAP Financial Measures” and the reconciliations in this release for further information.
Pending Acquisition by Affiliate of ARCHIMED
On July 21, 2025, ZimVie issued a press release announcing ZimVie’s entry into a definitive agreement pursuant to which ZimVie will be acquired by an affiliate of ARCHIMED (“ARCHIMED”) for
The transaction is expected to close by year-end 2025, subject to the satisfaction of customary closing conditions, including approval by ZimVie’s stockholders and receipt of applicable regulatory approvals. Upon completion of the transaction, ZimVie will become a privately held company and shares of ZimVie common stock will no longer be listed or publicly traded on the NASDAQ stock exchange. Due to the pending transaction, ZimVie will not host a conference call for the second quarter and ZimVie is withdrawing fiscal 2025 guidance. ZimVie's previous financial guidance should not be relied upon.
For further details on quarterly performance, please refer to ZimVie’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, which is expected to be filed today with the Securities and Exchange Commission (the "SEC").
About ZimVie
ZimVie is a global life sciences leader in the dental implant market that develops, manufactures, and delivers a comprehensive portfolio of products and solutions designed to support dental tooth replacement and restoration procedures. From its headquarters in Palm Beach Gardens, Florida, and additional facilities around the globe, ZimVie works to improve smiles, function, and confidence in daily life by offering comprehensive tooth replacement solutions, including trusted dental implants, biomaterials, and digital workflow solutions. As a worldwide leader in this space, ZimVie is committed to advancing clinical science and technology foundational to restoring daily life. For more information about ZimVie, please visit us at www.ZimVie.com. Follow @ZimVie on Twitter, Facebook, LinkedIn, or Instagram.
Note on Non-GAAP Financial Measures
This press release includes non-GAAP financial measures that differ from financial measures calculated in accordance with U.S. generally accepted accounting principles (“GAAP”). These non-GAAP financial measures may not be comparable to similar measures reported by other companies and should be considered in addition to, and not as a substitute for, or superior to, other measures prepared in accordance with GAAP.
Sales change information in this press release is presented on a GAAP (reported) basis and on a constant currency basis. Constant currency percentage changes exclude the effects of foreign currency exchange rates. They are calculated by translating current and prior-period sales from Continuing Operations at the same predetermined exchange rate. The translated results are then used to determine year-over-year percentage increases or decreases.
Net income (loss) and diluted earnings (loss) per share in this press release are presented on a GAAP (reported) basis and on an adjusted basis. Adjusted net income (loss) and adjusted diluted earnings (loss) per share exclude the effects of certain items, which are detailed in the reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures presented later in this press release.
Adjusted EBITDA is a non-GAAP financial measure provided in this press release for certain periods and is calculated by excluding certain items from net income (loss) from Continuing Operations on a GAAP basis, as detailed in the reconciliations presented later in this press release. Adjusted EBITDA margin is Adjusted EBITDA divided by net sales from Continuing Operations for the applicable period.
Adjusted cost of products sold (excluding intangible asset amortization), adjusted R&D and adjusted SG&A (on an actual basis and as a percentage of sales) are non-GAAP financial measures provided in this press release for certain periods and are calculated by excluding the effects of certain items from cost of products sold (excluding intangible asset amortization), R&D and SG&A, respectively, on a GAAP basis, as detailed in the reconciliations presented later in this press release.
Reconciliations of these non-GAAP measures to the most directly comparable GAAP financial measures are included in this press release.
Management uses non-GAAP financial measures internally to evaluate the performance of the business. Additionally, management believes these non-GAAP measures provide meaningful incremental information to investors to consider when evaluating the performance of the company. Management believes these measures offer the ability to make period-to-period comparisons that are not impacted by certain items that can cause dramatic changes in reported income (loss), but that do not impact the fundamentals of our operations. The non-GAAP measures enable the evaluation of operating results and trend analysis by allowing a reader to better identify operating trends that may otherwise be masked or distorted by these types of items that are excluded from the non-GAAP measures.
Participants in the Solicitation
ZimVie and its directors, executive officers and other members of management and employees, under SEC rules, may be deemed to be “participants” in the solicitation of proxies from stockholders of ZimVie in connection with the proposed transaction with Zamboni Parent, Inc., an affiliate of ARCHIMED. Information about ZimVie’s directors and executive officers is set forth in ZimVie’s Proxy Statement on Schedule 14A for its 2025 Annual Meeting of Shareholders, which was filed with the SEC on March 25, 2025 (the “2025 Proxy”) (and available here). Please refer to the sections entitled “Compensation of Non-Employee Directors,” “Executive Compensation” and “Security Ownership of Directors and Executive Officers” in the 2025 Proxy. To the extent holdings of ZimVie’s securities by its directors or executive officers have changed since the amounts set forth in the 2025 Proxy, such changes have been or will be reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC, including the Form 4s filed by: Richard Heppenstall on March 11, 2025 and May 19, 2025; Vafa Jamali on March 11, 2025, March 27, 2025, March 27, 2025, April 3, 2025 and May 19, 2025; Indraneel Kanaglekar on March 11, 2025, May 19, 2025 and July 3, 2025; Heather Kidwell on March 11, 2025 and May 19, 2025; Richard Kuntz on April 2, 2025, May 9, 2025 and July 2, 2025; Vinit K. Asar on May 9, 2025; Sally Crawford on May 9, 2025; and Karen Matusinec on May 9, 2025. Additional information concerning the interests of ZimVie’s participants in the solicitation, which may, in some cases, be different than those of ZimVie’s stockholders generally, will be set forth in ZimVie’s proxy statement relating to the proposed transaction when it becomes available.
Additional Important Information
This press release may be deemed to be solicitation material in respect of the proposed acquisition of ZimVie by Zamboni Parent, Inc., an affiliate of ARCHIMED. In connection with the proposed transaction, ZimVie intends to file relevant materials with the SEC, including ZimVie’s proxy statement in preliminary and definitive form. INVESTORS AND STOCKHOLDERS OF ZIMVIE ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING ZIMVIE’S PROXY STATEMENT (IF AND WHEN AVAILABLE), BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and stockholders are or will be able to obtain the documents (if and when available) free of charge at the SEC’s website at www.sec.gov, or free of charge from ZimVie in the “Investor Relations” section of ZimVie’s website, which may be accessed at https://investor.zimvie.com, or upon request from ZimVie’s Investor Relations contacts.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of federal securities laws, including, among others, any statements about our expectations, plans, intentions, strategies or prospects. We generally use the words “may,” “will,” “expects,” “believes,” “anticipates,” “plans,” “estimates,” “projects,” “assumes,” “guides,” “targets,” “forecasts,” “sees,” “seeks,” “should,” “could,” “would,” “predicts,” “potential,” “strategy,” “future,” “opportunity,” “work toward,” “intends,” “guidance,” “confidence,” “positioned,” “design,” “strive,” “continue,” “track,” “look forward to” and similar expressions to identify forward-looking statements. All statements other than statements of historical or current fact are, or may be deemed to be, forward-looking statements. Such statements are based upon the current beliefs, expectations and assumptions of management and are subject to significant risks, uncertainties and changes in circumstances that could cause actual outcomes and results to differ materially from the forward-looking statements. These risks, uncertainties and changes in circumstances include, but are not limited to: the risk that the proposed transaction may not be completed in a timely manner or at all; the failure to receive, on a timely basis or otherwise, the required approval of the proposed transaction by our stockholders; the possibility that any or all of the various other conditions to the consummation of the proposed transaction may not be satisfied or waived, including the failure to receive any required regulatory approvals from any applicable governmental entities (or any conditions, limitations, or restrictions placed on such approvals); the possibility that competing offers or acquisition proposals for ZimVie will be made; the occurrence of any event, change, or other circumstance that could give rise to the termination of the definitive agreement relating to the proposed transaction, including in circumstances which would require us to pay a termination fee; the effect of the pendency of the proposed transaction on our ability to attract, motivate, or retain key executives and employees; the effect of the pendency of the proposed transaction on our ability to maintain relationships with our customers, suppliers, and other business counterparties; the effect of the pendency of the proposed transaction on our operating results and business generally; the risk that the proposed transaction will divert management’s attention from our ongoing business operations; the risk that our stock price may decline significantly if the proposed transaction is not consummated; dependence on new product development, technological advances and innovation; shifts in the product category or regional sales mix of our products and services; supply and prices of raw materials and products, including impacts from tariffs; pricing pressures from competitors, customers, dental practices and insurance providers; changes in customer demand for our products and services caused by demographic changes or other factors; challenges relating to changes in and compliance with governmental laws and regulations affecting our United States ("U.S.") and international businesses, including regulations of the U.S. Food and Drug Administration and foreign government regulators, such as more stringent requirements for regulatory clearance of products; competition; the impact of healthcare reform measures; reductions in reimbursement levels by third-party payors; cost containment efforts sponsored by government agencies, legislative bodies, the private sector and healthcare group purchasing organizations, including the volume-based procurement process in China; control of costs and expenses; dependence on a limited number of suppliers for key raw materials and outsourced activities; the ability to obtain and maintain adequate intellectual property protection; breaches or failures of our information technology systems or products, including by cyberattack, unauthorized access or theft; the ability to retain the independent agents and distributors who market our products; our ability to attract, retain and develop the highly skilled employees we need to support our business; the effect of mergers and acquisitions on our relationships with customers, suppliers and lenders and on our operating results and businesses generally; a determination by the Internal Revenue Service that the distribution of our shares of common stock by Zimmer Biomet Holdings, Inc. in 2022 (the "distribution") or certain related transactions should be treated as taxable transactions; the ability to form and implement alliances; changes in tax obligations arising from tax reform measures, including European Union rules on state aid, or examinations by tax authorities; product liability, intellectual property and commercial litigation losses; changes in general industry and market conditions, including domestic and international growth rates; changes in general domestic and international economic conditions, including inflation and interest rate and currency exchange rate fluctuations; the effects of global pandemics and other adverse public health developments on the global economy, our business and operations and the business and operations of our suppliers and customers, including the deferral of elective procedures and our ability to collect accounts receivable; and the impact of the ongoing financial and political uncertainty on countries in the Euro zone on the ability to collect accounts receivable in affected countries.
Media Contact Information:
ZimVie Inc.
Grace Flowers • Grace.Flowers@ZimVie.com
(561) 319-6130
Investor Contact Information:
Gilmartin Group LLC
Webb Campbell • Webb@gilmartinir.com
| ZIMVIE INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) (unaudited) | ||||||||||||||||
| For the Three Months Ended June 30, | For the Six Months Ended June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Net sales | $ | 116,662 | $ | 116,811 | $ | 228,659 | $ | 235,006 | ||||||||
| Cost of products sold, excluding intangible asset amortization | (41,354 | ) | (43,517 | ) | (79,303 | ) | (87,775 | ) | ||||||||
| Intangible asset amortization | (6,183 | ) | (5,999 | ) | (12,215 | ) | (12,022 | ) | ||||||||
| Research and development | (5,662 | ) | (6,579 | ) | (11,033 | ) | (13,359 | ) | ||||||||
| Selling, general and administrative | (59,573 | ) | (62,384 | ) | (118,558 | ) | (122,714 | ) | ||||||||
| Restructuring and other cost reduction initiatives | (83 | ) | (398 | ) | (1,515 | ) | (2,977 | ) | ||||||||
| Acquisition, integration, divestiture and related | (2,516 | ) | (4,621 | ) | (3,964 | ) | (5,657 | ) | ||||||||
| Operating Expenses | (115,371 | ) | (123,498 | ) | (226,588 | ) | (244,504 | ) | ||||||||
| Operating Profit (Loss) | 1,291 | (6,687 | ) | 2,071 | (9,498 | ) | ||||||||||
| Other income, net | 766 | 3,010 | 2,450 | 2,701 | ||||||||||||
| Interest income | 2,046 | 1,965 | 4,081 | 2,472 | ||||||||||||
| Interest expense | (3,836 | ) | (5,066 | ) | (7,887 | ) | (9,940 | ) | ||||||||
| Income (loss) from continuing operations before income taxes | 267 | (6,778 | ) | 715 | (14,265 | ) | ||||||||||
| Provision for income taxes from continuing operations | (4,115 | ) | (2,775 | ) | (7,188 | ) | (6,849 | ) | ||||||||
| Net Loss from Continuing Operations of ZimVie Inc. | (3,849 | ) | (9,553 | ) | (6,474 | ) | (21,114 | ) | ||||||||
| (Loss) income from discontinued operations, net of tax | (99 | ) | 5,539 | 1,055 | 9,339 | |||||||||||
| Net Loss of ZimVie Inc. | $ | (3,947 | ) | $ | (4,014 | ) | $ | (5,418 | ) | $ | (11,775 | ) | ||||
| Basic (Loss) Earnings Per Common Share: | ||||||||||||||||
| Continuing operations | $ | (0.14 | ) | $ | (0.35 | ) | $ | (0.23 | ) | $ | (0.77 | ) | ||||
| Discontinued operations | - | 0.20 | 0.04 | 0.34 | ||||||||||||
| Net Loss | $ | (0.14 | ) | $ | (0.15 | ) | $ | (0.19 | ) | $ | (0.43 | ) | ||||
| Diluted (Loss) Earnings Per Common Share: | ||||||||||||||||
| Continuing operations | $ | (0.14 | ) | $ | (0.35 | ) | $ | (0.23 | ) | $ | (0.77 | ) | ||||
| Discontinued operations | - | 0.20 | 0.04 | 0.34 | ||||||||||||
| Net Loss | $ | (0.14 | ) | $ | (0.15 | ) | $ | (0.19 | ) | $ | (0.43 | ) | ||||
| ZIMVIE INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except per share data) (unaudited) | ||||||||
| As of | ||||||||
| June 30, 2025 | December 31, 2024 | |||||||
| ASSETS | ||||||||
| Current Assets: | ||||||||
| Cash and cash equivalents | $ | 70,176 | $ | 74,974 | ||||
| Accounts receivable, net of allowance for credit losses of | 84,519 | 65,211 | ||||||
| Inventories | 84,447 | 75,018 | ||||||
| Prepaid expenses and other current assets | 21,067 | 23,295 | ||||||
| Current assets of discontinued operations | — | 18,787 | ||||||
| Total Current Assets | 260,209 | 257,285 | ||||||
| Property, plant and equipment, net of accumulated depreciation of | 48,799 | 47,268 | ||||||
| Goodwill | 266,232 | 257,605 | ||||||
| Intangible assets, net | 86,462 | 92,734 | ||||||
| Note receivable | 67,893 | 64,643 | ||||||
| Other assets | 28,629 | 26,611 | ||||||
| Noncurrent assets of discontinued operations | — | 7,528 | ||||||
| Total Assets | $ | 758,224 | $ | 753,674 | ||||
| LIABILITIES AND EQUITY | ||||||||
| Current Liabilities: | ||||||||
| Accounts payable | $ | 41,684 | $ | 32,958 | ||||
| Income taxes payable | 2,249 | 3,263 | ||||||
| Other current liabilities | 65,680 | 62,905 | ||||||
| Current liabilities of discontinued operations | — | 34,818 | ||||||
| Total Current Liabilities | 109,613 | 133,944 | ||||||
| Deferred income taxes | 109 | — | ||||||
| Lease liability | 10,070 | 8,218 | ||||||
| Other long-term liabilities | 4,845 | 9,232 | ||||||
| Non-current portion of debt | 220,786 | 220,451 | ||||||
| Noncurrent liabilities of discontinued operations | — | 122 | ||||||
| Total Liabilities | 345,423 | 371,967 | ||||||
| Commitments and Contingencies | ||||||||
| Stockholders' Equity: | ||||||||
| Common stock, Shares, issued and outstanding, of 28,197 and 27,667, respectively | 282 | 277 | ||||||
| Preferred stock, | — | — | ||||||
| Additional paid in capital | 945,487 | 938,630 | ||||||
| Accumulated deficit | (472,057 | ) | (466,639 | ) | ||||
| Accumulated other comprehensive loss | (60,911 | ) | (90,561 | ) | ||||
| Total Stockholders' Equity | 412,801 | 381,707 | ||||||
| Total Liabilities and Stockholders' Equity | $ | 758,224 | $ | 753,674 | ||||
| ZIMVIE INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited) | |||||||
| For the Six Months Ended June 30, | |||||||
| 2025 | 2024 | ||||||
| Cash flows used in operating activities: | |||||||
| Net loss of ZimVie Inc. | $ | (5,418 | ) | $ | (11,775 | ) | |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||||||
| Depreciation and amortization | 17,281 | 16,917 | |||||
| Share-based compensation | 7,571 | 9,150 | |||||
| Deferred income tax provision | 1,290 | (3,458 | ) | ||||
| (Gain) loss on disposal of fixed assets | (200 | ) | 430 | ||||
| Other non-cash items | 372 | 2,370 | |||||
| Adjustment of spine disposal group to fair value | — | (22,427 | ) | ||||
| Changes in operating assets and liabilities | |||||||
| Income taxes | 869 | 5,706 | |||||
| Accounts receivable | (14,391 | ) | (8,648 | ) | |||
| Inventories | (4,615 | ) | 10,580 | ||||
| Prepaid expenses and other current assets | 4,064 | (927 | ) | ||||
| Accounts payable and accrued liabilities | (14,524 | ) | (6,206 | ) | |||
| Other assets and liabilities | (2,981 | ) | (187 | ) | |||
| Net cash used in operating activities | (10,682 | ) | (8,475 | ) | |||
| Cash flows (used in) provided by investing activities | |||||||
| Additions to instruments | — | (1,316 | ) | ||||
| Additions to other property, plant and equipment | (3,078 | ) | (2,093 | ) | |||
| Cash paid for acquisitions | (3,282 | ) | — | ||||
| Proceeds from sale of spine disposal group, net of cash disposed | — | 291,123 | |||||
| Other investing activities | (3,017 | ) | (2,015 | ) | |||
| Net cash used in investing activities | (9,377 | ) | 285,699 | ||||
| Cash flows used in financing activities: | |||||||
| Payments on debt | — | (275,000 | ) | ||||
| Payments related to tax withholding for share-based compensation | (709 | ) | (1,670 | ) | |||
| Net cash used in financing activities | (709 | ) | (276,670 | ) | |||
| Effect of exchange rates on cash and cash equivalents | 14,372 | (5,627 | ) | ||||
| Decrease in cash and cash equivalents | (6,396 | ) | (5,073 | ) | |||
| Cash and cash equivalents, beginning of year | 76,572 | 87,768 | |||||
| Cash and cash equivalents, end of period | $ | 70,176 | $ | 82,695 | |||
| Presentation includes cash of both continuing and discontinued operations | |||||||
| RECONCILIATION OF CONSTANT CURRENCY NET SALES Continuing Operations ($ in thousands) | |||||||||||||||||||
| For the Three Months Ended June 30, | |||||||||||||||||||
| 2025 | 2024 | Change (%) | Foreign Exchange Impact | Constant Currency % Change | |||||||||||||||
| United States | $ | 67,958 | $ | 69,316 | (2.0 | %) | 0.0 | % | (2.0 | %) | |||||||||
| International | 48,704 | 47,495 | 2.5 | % | 5.0 | % | (2.5 | %) | |||||||||||
| Net Sales | $ | 116,662 | $ | 116,811 | (0.1 | %) | 2.0 | % | (2.1 | %) | |||||||||
| For the Six Months Ended June 30, | |||||||||||||||||||
| 2025 | 2024 | Change (%) | Foreign Exchange Impact | Constant Currency % Change | |||||||||||||||
| United States | $ | 133,791 | $ | 137,064 | (2.4 | %) | 0.0 | % | (2.4 | %) | |||||||||
| International | 94,868 | 97,942 | (3.1 | %) | 1.0 | % | (4.1 | %) | |||||||||||
| Net Sales | $ | 228,659 | $ | 235,006 | (2.7 | %) | 0.4 | % | (3.1 | %) | |||||||||
| RECONCILIATION OF ADJUSTED NET INCOME AND DILUTED EPS Continuing Operations ($ in thousands, except per share data) | |||||||||||||||||||
| For the Three Months Ended June 30, 2025 | |||||||||||||||||||
| Net Sales | Cost of products sold, excluding intangible asset amortization | Operating expenses, excluding cost of products sold | Operating Income | Net (Loss) Income | Diluted EPS | ||||||||||||||
| Reported | $ | 116,662 | $ | (41,354 | ) | $ | (74,017 | ) | $ | 1,291 | $ | (3,849 | ) | $ | (0.14 | ) | |||
| Restructuring and other cost reduction initiatives [1] | - | - | 83 | 83 | 83 | - | |||||||||||||
| Acquisition, integration, divestiture and related [2] | - | - | 2,516 | 2,516 | 2,516 | 0.09 | |||||||||||||
| Intangible asset amortization | - | - | 6,183 | 6,183 | 6,183 | 0.22 | |||||||||||||
| Other charges [3] | - | 344 | 83 | 427 | 427 | 0.02 | |||||||||||||
| Share-based compensation modification [4] | - | - | 249 | 249 | 249 | 0.01 | |||||||||||||
| Blended global statutory tax rate adjustment [5] | - | - | - | - | 1,586 | 0.06 | |||||||||||||
| Adjusted | $ | 116,662 | $ | (41,010 | ) | $ | (64,903 | ) | $ | 10,749 | $ | 7,195 | $ | 0.26 | |||||
| For the Three Months Ended June 30, 2024 | |||||||||||||||||||
| Net Sales | Cost of products sold, excluding intangible asset amortization | Operating expenses, excluding cost of products sold | Operating (Loss) Income | Net (Loss) Income | Diluted EPS | ||||||||||||||
| Reported | $ | 116,811 | $ | (43,517 | ) | $ | (79,981 | ) | $ | (6,687 | ) | $ | (9,553 | ) | $ | (0.35 | ) | ||
| Restructuring and other cost reduction initiatives [1] | - | - | 398 | 398 | 398 | 0.01 | |||||||||||||
| Acquisition, integration, divestiture and related [2] | - | - | 4,621 | 4,621 | 4,621 | 0.17 | |||||||||||||
| Intangible asset amortization | - | - | 5,999 | 5,999 | 5,999 | 0.22 | |||||||||||||
| European Union medical device regulation [6] | - | - | 311 | 311 | 311 | 0.01 | |||||||||||||
| Other charges [3] | - | 287 | - | 287 | 287 | 0.01 | |||||||||||||
| Blended global statutory tax rate adjustment [5] | - | - | - | - | 1,517 | 0.06 | |||||||||||||
| Adjusted | $ | 116,811 | $ | (43,230 | ) | $ | (68,652 | ) | $ | 4,929 | $ | 3,580 | $ | 0.13 | |||||
[1] Restructuring activities to optimize our organization for future success based on the current business environment and sale of the spine business, primarily related to employee termination benefits.
[2] Acquisition, integration, divestiture and related expenses for the three months ended June 30, 2025 primarily include transaction costs related to the evaluation of strategic alternatives for our portfolio (
[3] For the three months ended June 30, 2025, other charges represent amortization of the step-up to fair value of property, plant and equipment and inventory resulting from prior acquisitions (
[4] Net impact to share-based compensation expense of converting outstanding restricted stock units (“RSUs”) with performance-based metrics based on the consolidated results of the spine and dental segments into time-based RSUs following the sale of the spine segment.
[5] Application of our estimated blended global statutory tax rate for each period presented to adjusted pre-tax income, which was determined in consideration of current tax law in the jurisdictions in which we operate and current expected adjusted pre-tax income. Actual reported tax expense will ultimately be based on GAAP earnings and may differ from the estimated blended global statutory tax rate due to a variety of factors, including the resolutions of discrete or non-operational tax impacts, changes in tax law, the ability to realize deferred tax assets and the tax impact of certain reconciling items that are excluded in determining Adjusted Net Income (Loss) and Adjusted EPS.
[6] Expenses incurred for initial compliance with the European Union Medical Device Regulation for previously-approved products
| RECONCILIATION OF ADJUSTED EBITDA Continuing Operations ($ in thousands) | |||||||||||||||
| For the Three Months Ended June 30, | For the Six Months Ended June 30, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Net Sales | $ | 116,662 | $ | 116,811 | $ | 228,659 | $ | 235,006 | |||||||
| Net Loss | $ | (3,849 | ) | $ | (9,553 | ) | $ | (6,474 | ) | $ | (21,114 | ) | |||
| Interest expense, net | 1,790 | 3,101 | 3,806 | 7,468 | |||||||||||
| Income tax provision | 4,115 | 2,775 | 7,188 | 6,849 | |||||||||||
| Depreciation and amortization | 8,626 | 8,487 | 17,281 | 16,917 | |||||||||||
| EBITDA | 10,682 | 4,810 | 21,801 | 10,120 | |||||||||||
| Share-based compensation | 4,073 | 5,677 | 7,571 | 9,150 | |||||||||||
| Restructuring and other cost reduction initiatives [1] | 83 | 398 | 1,515 | 2,977 | |||||||||||
| Acquisition, integration, divestiture and related [2] | 2,516 | 4,621 | 3,964 | 5,657 | |||||||||||
| European Union medical device regulation [3] | - | 311 | - | 712 | |||||||||||
| Other charges [4] | 98 | - | 160 | - | |||||||||||
| Adjusted EBITDA | $ | 17,452 | $ | 15,817 | $ | 35,011 | $ | 28,616 | |||||||
| Net Loss Margin [5] | (3.3 | %) | (8.2 | %) | (2.8 | %) | (9.0 | %) | |||||||
| Adjusted EBITDA Margin [6] | 15.0 | % | 13.5 | % | 15.3 | % | 12.2 | % | |||||||
[1] Restructuring activities to optimize our organization for future success based on the current business environment and sale of the spine business, primarily related to employee termination benefits.
[2] Acquisition, integration, divestiture and related expenses for the three months ended June 30, 2025 primarily include transaction costs related to the evaluation of strategic alternatives for our portfolio (
[3] Expenses incurred for initial compliance with the European Union Medical Device Regulation for previously-approved products.
[4] For the three and six months ended June 30, 2025, other charges represents regulatory costs incurred to change the manufacturer of record as required by our separation from Zimmer Biomet Holdings, Inc. after initial compliance with the European Union Medical Device Regulation.
[5] Net Loss Margin is calculated as Net Loss divided by Net Sales for the applicable period.
[6] Adjusted EBITDA Margin is Adjusted EBITDA divided by Net Sales for the applicable period.
| RECONCILIATION OF COST OF PRODUCTS SOLD (excluding intangible asset amortization), R&D and SG&A Continuing Operations ($ in thousands) | |||||||||||||||||||||||||||||||
| For the Three Months Ended June 30, | Percentage of Third Party Net Sales | For the Six Months Ended June 30, | Percentage of Third Party Net Sales | ||||||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||||
| Cost of products sold, excluding intangible asset amortization | $ | (41,354 | ) | $ | (43,517 | ) | (35.4 | %) | (37.3 | %) | $ | (79,303 | ) | $ | (87,775 | ) | (34.7 | %) | (37.4 | %) | |||||||||||
| Other charges [1] | 344 | 287 | 0.2 | % | 0.3 | % | 658 | 573 | 0.3 | % | 0.3 | % | |||||||||||||||||||
| Adjusted cost of products sold, excluding intangible asset amortization | $ | (41,010 | ) | $ | (43,230 | ) | (35.2 | %) | (37.0 | %) | $ | (78,645 | ) | $ | (87,202 | ) | (34.4 | %) | (37.1 | %) | |||||||||||
| 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||||
| Research and development | $ | (5,662 | ) | $ | (6,579 | ) | (4.9 | %) | (5.6 | %) | $ | (11,033 | ) | $ | (13,359 | ) | (4.8 | %) | (5.7 | %) | |||||||||||
| European union medical device regulation [2] | - | 311 | 0.0 | % | 0.3 | % | - | 712 | 0.0 | % | 0.4 | % | |||||||||||||||||||
| Adjusted research and development | $ | (5,662 | ) | $ | (6,268 | ) | (4.9 | %) | (5.4 | %) | $ | (11,033 | ) | $ | (12,647 | ) | (4.8 | %) | (5.4 | %) | |||||||||||
| 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||||
| Selling, general and administrative | $ | (59,573 | ) | $ | (62,384 | ) | (51.1 | %) | (53.4 | %) | $ | (118,558 | ) | $ | (122,714 | ) | (51.8 | %) | (52.2 | %) | |||||||||||
| Other charges [1] | 83 | - | 0.1 | % | 0.0 | % | 117 | - | 0.0 | % | 0.0 | % | |||||||||||||||||||
| Shared-based compensation modification [3] | 249 | - | 0.2 | % | 0.0 | % | 500 | - | 0.2 | % | 0.0 | % | |||||||||||||||||||
| Adjusted selling, general and administrative | $ | (59,241 | ) | $ | (62,384 | ) | (50.8 | %) | (53.4 | %) | $ | (117,941 | ) | $ | (122,714 | ) | (51.6 | %) | (52.2 | %) | |||||||||||
[1] For the three months ended June 30, 2025, other charges represent amortization of the step-up to fair value of property, plant and equipment and inventory resulting from prior acquisitions (
[2] Expenses incurred for initial compliance with the European Union Medical Device Regulation for previously-approved products.
[3] Net impact to share-based compensation expense of converting outstanding restricted stock units (“RSUs”) with performance-based metrics based on the consolidated results of the spine and dental segments into time-based RSUs following the sale of the spine segment.
FAQ
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