GMED - Earnings call 1 2023 | Globus Medical, Inc.

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Operator

Welcome to Globus Medical's First Quarter 2023 Earnings Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Brian Kearns, Senior Vice President of Business Development and Investor Relations. Please go ahead.

Brian Kearns

Thank you, Antoine, and thank you, everyone, for being with us today.

Joining today's call from Globus Medical will be Dan Scavilla, President and Chief Executive Officer; and Keith Pfeil, Chief Financial Officer. made of webcast, at the being Investor through www.globusmedical.com. is section Relations Globus review available accessible via the This Medical website

the forward-looking statements. Before that review me let or statements of are considered we this made be remind may during begin, some you

Securities for could the today. cause from results differ Exchange Form our filings XX-K and those subsequent certain materially any made XXXX actual the Our Commission forward-looking projected year identify fiscal our with and that statements in factors to

including as Our available or our of filings, are SEC the update on developments. information website. We XX-K, to undertake any new future or do a not events forward-looking statements result

the GAAP. today in financial non-GAAP for read financial We are also will pertinent and financial certain measures not provide discussion financial President additional Investor be Relations Dan together accordance measures with our non-GAAP accepted accompanying the I'll the turn release on the the to the and calculated in generally considered are These our information business performance. the to that most be comparable GAAP replacements call now should or press believe Our with schedules section Scavilla, directly measures. Reconciliations measures available to measures over and these include principles, GAAP Medical most CEO. that, not website. With should accounting Globus comparable of directly

Daniel Scavilla

record to was these Globus up everyone. more versus strong section. XXXX XX% starting free QX, EPS in growth $XX cash the EPS. flow mid-XXs is in results XX%. good and 'XX. $X.XX, stand-alone Non-GAAP year delivering should of Adjusted QX EBITDA flows, strong million EBITDA versus strong a his was and deliver constant in the in XX% XX%, that quarter business items be increase a gains Globus for sales, Keith speak will about for was out achieved currency $XXX 'XX. million, and sales Brian, million, afternoon, or cash Thanks, QX increasing in record $XX

deeper from with Biologics, grew This Spine our rep in XX% quarter implants in QX our Looking QX, pedicle-based meet part screws, and driven to on to growth TLIF above-market expandables, pull-through procedural of retractor and competitive prior launched of we offerings. robotic into by prior MIS printed offer across post-COVID a the gains specialized year. In MARS our portfolio notable versus recruiting XD performance. is as U.S. product procedures surgeon cervical quarters, focus normalization efficiency preferences. options

our range highest with by When a in surgical single positioning decompression, expandable solutions our we It enables We sales. our our also in sales bed This an solutions interactive sales robotic combined interbody placement surgeon date. increase non-robotic on approach continue significant of lateral ExcelsiusGPS enables currency implant maximize significant seamlessly platform also integrates XX% surgeons. Enabling and It that patient system operational and direct customizable minimize position, system. prior procedures. represents progress single-stage lateral provide and and versus can QX for a offerings, ease imaging capabilities were and of for EXD our million, basis fatigue. efficiency, Excelsius launching to to up $XX unique year, robot is and prone-lateral make to indirect adjustable constant our driven Technology and with mount designed

market to EMEA and to in Asia and ExcelsiusGPS international strong continue significant We of pull-through with share that future and see implant increased gains. interest lead gains Pac sales will

and versus we prior strongest accelerate, one year growing since As of exceeding continue XX% we procedures rollout the have QX, performed to pipeline robotic XX,XXX procedures system. Robotic date. enter launching to the

maneuverability, in said the ExcelsiusGPS imaging a offering is changer a our image this high integrated We robotic as field navigation X system. X-in-X system. with a continue of to platform, integration ExcelsiusXD our experienced game make view they with and is imaging. large seamless with imaging inroads of modalities have benefits positive ExcelsiusXD single a cart Surgeons

designed the Globus to key remains It operating the built high XXXX. and and a grow. orders state-of-the-art growth the positioned from driver of be Market technology ground customer for up with component for the ExcelsiusXD room. continue is to a interest ecosystem, is ExcelsiusGPS to in major communicate

Japan prior constant excluding Our to growth compared growth a delivered record international and for currency continue currency most key QX. spinal growing implant constant business, double-digit see sales growth Japan, in in basis in QX, delivered XX% markets on delivered We markets. XX% to strong year.

We year in expect we recapturing to share. throughout Japan the gains market see as focus on

XX% Earlier voted over our for sequential by with the throughout This Nail and to overwhelmingly delivering of merger of are working to a sales all and support support for delivered performance quarter shareholders shareholders with we realizing second status. from we expansion the combined the milestone, FTC A force the sequentially. XXth a the business system market consecutive growth, the its growth Class open quarter QX deal. and Trauma the continues NuVasive moves XX% and product lines, is received address that Medical XX% growth launched make trauma Femoral the Federal strong in request, of inroads driven this Our notification in EVO is us Globus approving and update questions. last including to portfolio, week, for gains. To strong delivering and take closer major AUTOBAHN Trade their Commission you the share transaction. it on Both merger uptake

from to the will deal closure request The timing second XXXX. mid-XXXX impact moving QX anticipated

I We're outcome. In and where of One, sustained and musculoskeletal and sales; the in deliver alter the we about our to recruiting; XXXX growth. closing, to integration system required merger to remain positioned we and to introductions; will imaging two, the drive our belief successful a all or preeminent the we competitive However, patients the the know over to three, turn elements robot drive that planning. core our on to compete. company deal well innovative not world. I this and becoming is focused the our address FTC are the now product resources questions long-term rep new benefit quickly it call execution combination all focus to mission will achieve in value Keith. does four, customers and placing for commitment markets surgeons growth.

Keith Pfeil

Thanks, good afternoon, everyone. Dan, and

We growing pleased geographies market. in continued we've demonstrate take seen while position in our and first first experiencing share was are year's not extremely as and quarter sales our quarter. across the results portfolio it procedural growth Strong the last with softness seen our to also

was GAAP XX% non-GAAP delivering $XX.X earnings and representing fully per was million, fully income prior currency over of share revenue growing $X.XX million, diluted per earnings on a resulting income net QX the Net as XX% diluted in quarter. Our $XX.X Non-GAAP growth of million, basis. reported constant $XXX.X share, was $X.XX. year XX.X%

was driven growing procedural the Turning both the XX.X% $XXX.X our as compared by as Spine international, prior the compared share quarter. quarter. comps year volumes was Growth our well to to QX to when in revenue softer U.S. reported prior strong continued attention by sales. business, led year by as driven million, musculoskeletal when and primarily taking

so as strong specifically quarter, as well Enabling our to for grew first coming into and both XXXX robotics quarter pipeline remain and quarter development QX First internationally. was of in by technologies. year Technologies its system robotic compared imaging our XXXX, revenue that heading out of driven our and note I XX.X% the the U.S. demand ongoing as prior

implant and businesses trauma mainly million, growing led as well $XX.X a XX.X% businesses, biologics by our constant as was U.S. international Spain our reported XX.X% and Growth First in was led growing spinal INR reported, Poland, our $XXX.X XX.X% U.K., earlier. was Brazil, again as on by the million, as revenue currency Germany. Dan as International businesses, quarter mentioned revenue spine and basis. and Australia,

result and targets, to the was the includes and focused primarily sales growth and $X.XX the dollar are lower XXXX which were We the million in mix of in international in for or increased compensation The by quarter. XX.X% quarter, help of cash, solutions with year or year as the quarter. ended XX.X% noted as million and partially was strategy supply Enabling lower of the inventory items, businesses in growth of will up effective is million the cash strategy rate sales we markets. Gross QX, quarter count, a offset or timing as marketable compensation by inventory slightly our $XXX.X increased our training quarter The higher reflective by XX.X% procedural sales and quarter the of Spine we XX.X%, quarter. prior income spend depreciation compared meeting. The Technologies quarter development of product profits spend, year global $XX.X partially XX.X%, move annual first of Sales increases line equivalents in Our remains lower remains largely to and XXXX and as higher well on The of free. of offset debt gross company primarily tax the the $XXX.X driven were sales reflected of flat the growth in year in result the income in prior in expenses, million while sales in investments share in to expenses. achieving capital higher the first expenses for $X.XX drive countries CapEx, $XXX.X our remains receivable. well of consistent higher and securities. travel travel expectations. Non-GAAP first and 'XX mainly comments across sustain higher impacts of were flow with as quarter driven product higher with prior year the seek was of of primarily around expense. Free my was SG&A EBITDA write-offs prior profit as a quarter growth profit to is nonoperating as the geographic ahead. SG&A the earlier with result accounts XX.X% cash prior million Increased to share compared EPS by scrap higher costs by manufacturing in is essentially in expectations. personnel-related offset and to in spending meetings, our in interest $XX.X Adjusted expenses line consistent as sales $X.XX $XX.X related was $X.XX The the X.X% consistent year. prior XX.X% the first greater QX working of efficiencies. Research and and our improved cash our million chain versus reflective partially quarter as with XXXX namely

first to relates EPS completion the to expect remains and want of closing, Our accretion following unchanged the comments to approvals obtained guidance deliver XX-plus it by year as addition few sales non-GAAP Globus-NuVasive we the EPS. stand-alone and in closes, to a $X.XX brief are $X.X billion comments reiterate the in diluted at in deal fully XXXX earlier transaction In regulatory Dan's full I net percent merger. Once non-GAAP closure.

complementary around synergies expect offerings companies. We revenue product to dissynergies offset near-term be partially of sales both by

on Post new to In develop of addition, the as XX% end we musculoskeletal inorganic million we to of expect to NuVasive. $XXX deal year to the of the technologies XX% now call Globus cost which of with continue year of close, seek and also driving synergies, expect as the XXX% while organic X we'll disorders. Operator, growth long-term thank end members close we to achieve of open third of to and business for closure, both continue deliver M&A cash integrate on opportunities. We and by remain internally will and by our following while for our the opportunities end X the merger seek to confident complementary and objectives the year. We want lives organic improve exciting seeking our deploying to strength questions. team by achieve we and growth remain steadfast with in our Globus we patients continue in

Operator

Mike [ [Operator Instructions] And our from Barclays. from Miksic ] comes (sic) Matt first question

Matthew Miksic

Congrats a quarter, strong guys. on really

Daniel Scavilla

Thanks.

Keith Pfeil

Thanks.

Matthew Miksic

one about I So one if the -- and operations, merger of and could. on pending the question sort

I to can incremental talked of have the you have about of either stage? again, just in opportunity this the sort allowed [indiscernible] to some synergy spending amount you anything then planning to I'm saw sessions those know learned to you time meetings -- at of that's of So and seen I terms that want together that one insights if that you and And follow-up. were before so the wondering in extent you and or a wondering you or fair stage. this at -- of areas merger, have you're your on have the anything that strengthen there's that before if extent

Daniel Scavilla

Matt. I'll Thanks, is Dan. This that. answer

You're right.

for together learning exaggerated. up, culture tell throughout about that this. work together. And differences over is planning I've with there, learned that continue out I know work and of We the there lot in more a organization really value and would but I the the it's we that to there's it's you work more positive and streams and we've And talk culture, been I'll are what streams set admit

realize core down I think quality. incredibly leadership we would how an folks of And team. to more of you strong the move thought get that aligned. They've the is are forward found and top it. there willingness similar I when than got very to every is the process person

honest, them. to I see be more more encouraged am I'll the So work, I the

how I enticing think, they learn me, as we've to be whether experience as going marketing further even could well do or do. strengths, I Globus as that their the before, talked training, about surgeon remains how seeing about it forward or to

Matthew Miksic

-- than bit was expecting. you a Great. in bit And just that stronger think you're the holding quite get most the on stronger the were quarter folks going about the a to quarter, were believe a back talk in tackle I question, it on it sure -- of of a is temporary Could we little and strength then this bit quite I upfront raise. we'll strength I'm aspects expecting as sort the

of And why you? something to then sources the year? remainder were here of the if up the take for surprises So there strength not

Keith Pfeil

quarter. In he specifically, is was coming quarter of think definitely talked and was wants our at pipeline had very the and very, robotic I as little markets, I'll some strong. kind Keith. step we look first strong But extremely That may in some year, extremely a a Dan look the the I could have the that that little at strong but feel But the quarter. distributors, I a and early with international some we have business. up remaining But anything end. we happy quarter be take This I pushed that, back benefit. and quarter add when a could orders the the international there about still landed. there do bit the happen give the year how the stocking the to look to And think I a we we're quite of bit. in too still full still in at it's A about year, could good year. think raise lot really at honestly,

Daniel Scavilla

year, We stand-alone And don't get so year. stand-alone the while execute Matt, for guidance for that. rest Yes. I'll build exiting really plan meaningful directional the a year to on the on We're you company. any on expecting into as and we this the of isn't as

Operator

Instructions] Shagun next question from RBC. [Operator Singh from Our comes

Shagun Singh Chadha

Congratulations the on the shareholder support for deal.

to the cages, Does made the understand and have I through So get you? big areas focus that right a now second request. have specific identified there any biologics? products that as of is FTC to been interbody Are a they come process surprise

I process anything just Enabling I share then and leading know one of And there's guys follow-up. the have a your Tech, where neuromonitoring I'm positions. filings you have wondering if you mentioned can potential FTC divestitures? on and

Daniel Scavilla

I nothing to had the timing what There's far given seen that. focused that are no go would deal. fairly can't remain bit. I specifically say in not with alarm what right felt do change was that from to we're know, seen, I've shifts that, requests there tell certainly And want do second what has Thanks, share. of of need would could you the this that a we And We this. you aware for are I out or will little unusual. the you that I Shagun. been tell I we committed doesn't This everything to to into it. us, Dan. specifics with nothing now, I is anything as It or where think so general, alarming I in

data overall me, search. to it's I So think an

step do to need. can up We'll front what that that's fast in have progress give so that and as we them us. can we potential the they forward as realize We of and

Shagun Singh Chadha

reps? among you can rep morale's? force closing. still taking bit And of you're it is recent but quarters? the amount driving versus it. And your competitors Got The recruitment it's sit can maybe in announced, any sales trends sales sales poach are about talk reps? your about pending little talk steps to then Is What you you also on the that seeing competitive ensure a don't deal

Daniel Scavilla

it. got You

all this looking consummating forward I So you to and tell of would moving are really forward. us

any of you this would So talk I not certainly upon leaderships excitement But forward. as and welcome down through the both there, and remains thing. it companies directly the tell a push work to I us delay is sales that to with incumbent and the level, rep it's

the them NuVasive drive this place they know that that They incredible to realized that and patients. and is is this together bringing than looking combining benefits at others. and and our Our stronger really know be, technologies field for those teams can all field pipeline the surgeons and

So this just it's to it us I have any little to and think be and be, weary we that through who it upon might the a place done way. is those that remind of work incumbent get to

as far is a goes, rep is. is lot as ought consuming folks competitive what who a it this of to deal, this recruiting creating certainly it the in our at team look past what and lot interest, it's the while want mentioned we've As future of time join to,

competitive to this. out be rep seek And as right us it we more now us feels going it to recruiting coming bit so a versus proactive to realize

Operator

Saxon [Operator from Instructions] Needham Our next comes question & David from Co.

David Saxon

on Great. trends. remain I -- those robotics on Tech. here. sounds a yes, mean Enabling really Congrats like good strong you on first maybe demand quarter out strong. first the Maybe called It

like at is some can that robotics that And something are wanted inflect terms of that on term? to a steady Or that we shake does point? where of out in Kind kind thoughts So there I in spine? just your longer is where grind? of penetration get

Keith Pfeil

that that market would robotic a the in being we're Thanks growing. trend in the for still the of the and accepted is This call. still Keith. capital is say it's market I

we plenty think for market about still I to -- there's penetration us grow. I of that the market, think think in

I perspective think part for spine adopters it's still be the on. our surgical time procedures. robots And a future are of still belief that continuing passes, to will as come from

Daniel Scavilla

Yes. I too. add would to it,

think creating I willingness grind. therefore, test a about and people's it's steady to adopt. certainly, more awareness and It's of

the that it through of explosion large it's for is instantly. new everybody, a And so working given matter technology that a versus occur just may that

David Saxon

Japan. -- last international, Japan the remember grew Okay. maybe Got in on they -- that I the And I time, on I which team then mean, can't green. mean, it. specifically the was grew, or

So Or the there? orders fully to how is way think I you that to you Is there? rightsized going? wood And team chop? any international through there is still some called benefit out quantify the then distributors, saw stocking

Daniel Scavilla

start can it I'll So finish up. of kind and Keith then

team motivated customers, think vendors regaining been mindset starting in Japan, or things some bottoming international I we've country you that me. that looking And We've penetrate. that So been rightsize, great investing, And we're like that the chop, And more and adjusting and When the is to really excuse out. of to traction calling as out as occur done -- team first don't say them downsize giving would the that feeling really quarter. I'm of now, there. we've some about I fourth driven. place be to, to and know, there. Japan, the I you team. tools in that's feel outside in traction. with wood With potential to seen some And that's we've the it's that, reorganizations, good off, see I speak every think their

as even recruit and enhance continue I have penetrate grow method to its look and think to size more. a we and to we

Keith Pfeil

very the rest but we're I and teens when it a would the as comment, bit, high came ahead, see as we that materially. the internationally, rate, the to look We the at not stocking little slowed confident going rate Spain would we say And I stocking of growth From relates we would as places at to quarter my finished Brazil. earlier have year. be definitely grow And out standpoint internationally, it of of feel we it some orders look growth look where orders, the strong. down

Operator

Instructions] from BTIG. next Daniel question [Operator comes from Sam Our

Ryan Zimmerman

think we crossed. I'm Actually, -- I our for Ryan this lines is on sorry, got

a So couple of couple things a of there me, questions. for

perspective be guys of reassure do from and you're the concern quarter. you're had that asset great number from? not wheels, there? you just So I share how you where that is you taking buying that Competitively, a can any from guess, you're you And just kind spinning one, investors share there your taking think may a

Daniel Scavilla

certainly Ryan, it's It's great would ironic. question, that a Dan. and be

I you market phase, detail, I that we our the would don't would planning of appropriate through level while right a now again So gains that say especially share that way. share come in really tell

that's most big kind at of down I look guys where Medtronic, the from. that will you how tick feel with J&J, in you come So of Stryker. being still like

more kind to other. NuVasive. knowledge, Certainly, after in it's the the share best at compete against really I always strong say but rarely been versus parallel my of go each taking heavily We've never we've than from of run fact. would to It the happens tended and occasionally, market

Ryan Zimmerman

of a it Okay. one, was think it up expected the higher about the how I want understand you're of Keith, And we -- SG&A just for and balance this you kind than year? And kind so to then, quarter. where much is why of bit

Daniel Scavilla

Yes.

we bit training it this year-over-year. a in higher on quarter as well flip as well. a We up had little bit so than as So little sales more our of COVID, later there because a was timing sales in year. of SG&A global year definitely I Last the we had was some the year, in travel. expected being QX commented meeting

really past. up, we're in recruiting of out growth as generally by then most from the down just there well the sales But perspective. in meetings as comp sales the street importantly, quotas And driven force achieving from the speaking, was a competitive

doesn't a it think that say a look ahead, basis, mid-XXs a bit I will bit. feels little balance company. this still a feels it little But out bit we change it the on year EBITDA we're fact -- would be we like As But should higher. full that a it

Operator

Newitter Truist [Operator question comes next Richard from Our Instructions] Securities. from

Samuel Brodovsky

This is on Sam Rich. for

The you mix competitive seen greater ask this robotics. first past? one placements the of I'll quarter in with than Did see you've in any on accounts

Daniel Scavilla

Yes.

We a We've trend quarter. think while, certainly that's a friendlies seen making beyond but Globus we're that inroads we've in have. past seen the and just I for this

Samuel Brodovsky

out versus just of all then how that robotics mix through imaging parse the year, you sort we And think could at should this that be about Great. would great? of

Keith Pfeil

-- Enabling of the look No thanks, it's not robotics. But Tech. within imaging our continue we're and to portfolio. no, out at parsing going another Sam. to We're versus We SKU suite to that bring products a market,

Operator

Kyle question Canaccord. [Operator Our next Instructions] comes from from Rose

Kyle Rose

Great.

bit if inventory scale could an manufacturing wondering it's there. it a higher bit you to be to Just point little clearly I little flex about mean seems of a business. the talk you here. mean trauma I inflection like have able a kind hitting more bit the probably of

that's So any additional building just there larger perspective, some a of wondering, gas if realistically, step-up we things Is of so and should a that expect sort out here? kind from down, speak, the to pedal expectation to territories hockey-stick see growth to sort. push or of

Daniel Scavilla

and putting of go it's the it. recruiting the deeper. was I you, can on I I XX-some of a is We would kind percent Dan. It's adding now, Kyle. was sets. Thanks, gas. continuation the of of get What foot down thinking right But certainly factor kind tell my

and through, think that bag from Level capable very Level growth of going I a we're I seeing and think got there. centers X come we've X, trauma

overly I'm would I not concerned. you, tell So

would related to pending or in actually NUVA the nothing it. We There's are merger impact investing trauma. acquisition that

and know, fund you it run As completely we separately. it

will market. take for we and continue So I'll if back beat that what into QX as to tell it drive I you I the see can

Kyle Rose

next. Great. our what's it's to Yes, job ask

this just on of So reps the Just difference have combined rep public, that us a trending. discussions guess, conversations marriage? there high non-NUVA,/non-GMED be that out portfolio? how help those any is are understand those the level. a how type maybe in might in about talking broader hiring, from of future mean, I the reps now interested I Just you're competitive with changed type in the

Daniel Scavilla

including say as that slightly this difference. can that particular folks. to Yes, grow them different, you and wouldn't the a as it's I want people, long and is a categorize individuals a of I you're do the who say really a question. deal potential obviously looking know great have would company who still but at able want to this Street do mix really understand of Wall make I what type. term, conversation to I'm

that's to who's really and the that we're I to and of part And to know forward saying, to how portfolios invest coming They and this? we're to this drive these door going going become we're continue in invest do expand. going

and so being the that and realizing to us coming are And of levels actually asking those from folks different part help interested to that in ones story the all join team.

Operator

[Operator question Instructions] Our Jefferies. next comes from from Matt Taylor

Unknown Analyst

for Matt on tonight. is Mike This

a talked Just about robot robust XQ. entering pipeline -- you

seeing But talk how you're spending? you're on customers. spend hesitancy just potential can the any like potential macro about headwinds you thinking impact seem doesn't among about it capital customer capital So and

Keith Pfeil

you this talking I'd about But we I'll is into lots take into didn't robotic mature the Keith. It We anything that. Dan -- was had and year, the definitely and were pipeline. about sales coming of in really Matt, QX the team. U.S. of market is it the strong can a say Last chasing QX, really fill demand, and in. dynamic. a for opportunity pipeline, lots this

on place more that towards as earlier see inflection I get you robotic year, a and being more sell we're the As are that technology. adopted. to of you time I we an to And at I to other it the where think look think still point, want call and robots continue the mentioned have technology. the facilities we adopt and rest passes

again continue majority that robot. The ways I And volume-based of purchases, with and and think the multiple have are meet sell we have robots as into our of the we nature. as do sell those and there's we sell that, things macroeconomic outright I to we to walk think that sales we headwinds. benefits arrangements to competition can ways but other

respond to to the market So happens on economically. that macro we're what ready I think depending

Daniel Scavilla

than whether or and on years I'll more without COVID post-COVID have nurses on Certainly, just times, been training difficult build And or on, Mike. into ground last X the a get for on. that, you staffing

So think we'll really into deny a can I work that approaches customer the with Keith something out to remain there to what surgeons and lives. not a way into multiple mind. again, is that like difference this change a priority. And do, anything can technology will make putting of we said, Especially the get about mindful technology to have to as if top to but that we're keep walk be recession, who in people of hands

Unknown Analyst

follow-up Got the And helpful. it. then there. That's just

You kind talk you mentioned you out customer Can robotic and demand of about purchasing trajectory how that in of any coming about you're OUS see differences versus and terms that behavior XXXX? thinking XXXX. through just of U.S. U.S.

Daniel Scavilla

depends in grow. and the really education uptakes OR. and still nascent their folks where say you're do it say there's where starting I'd wouldn't Yes, penetrate of just about are Right it the differently. then an now, to just or a U.S. Again, by we're there's Again, market to ways world, different with on the that through lot overfocus market, awareness, of to right? to you hands-on get I go and technology with into training see. to working an necessarily how depending it's

Operator

Vik [Operator from Instructions] Chopra Fargo. Wells Our next comes question from

Vikramjeet Chopra

congratulations well. echo as my I'll

for X me. So

lines the program First you robotics provide one, on latest the an what and recon are? can update time

Daniel Scavilla

be progressing to I'll do glad through. it's Dan. We're that. Yes, Vik, still

get testing launch. scale electronic those when yet comes about into of equipment. things We're today We're through a for up lot now. it for working a and not in meeting have Actually you ready the how had just We filed.

need push matter a get yet to would see just by seeing we're all concern, working the Not Certainly So because well, a to get date to just give of to anything it. going through that's and for is a I this year-end, to we testing goal, towards went order a through this if do filing potential that now. right the what approved. don't be in you the have to

Vikramjeet Chopra

obviously, And mean, your I just very strong robotics more trends follow-up. then Great. one business. in

XXXX. expect landscape sell in about curious to to the I'm you your And the and you talked have One with competitive XXXX anything on of robot change impact coming larger any ability out whether systems? in just orthopedic the Excelsius to competitors has if spine seen continue

Daniel Scavilla

we're knew of we not always first and this, have you -- get the would continue to were and came with I when as say that one would remember, Yes. we market really that out the we more crowded. eventually entrants

So of shock. there's nothing concern

customers talking is. ours they're are They happen technology We are could the thinking best. in who XX recognize understanding as now, about to months. Right what the not what

add for continue to offerings options we'll going and go even push that our and continue and to our ahead customers. so to and more look to create value that's with platform And

Operator

today, All questions, right. for have Quarter us you Thank Thank you. First a Call. joining Earnings With no and concludes Globus evening. Medical this further the nice

We will now disconnect.

Globus Medical (GMED) 4 May 232023 Q1 Earnings call transcript