afternoon, and good everyone. Dan, Thanks,
of During successful vein. has passed I'm since X-year mark. our the far thus extremely work mark most work this remains, third we hard closing Much quarter. work integration our X-year the becoming of spine to the pleased merger. the at outstanding results in at with are NuVasive Much third done we in the quarter, continue been the
for sheet balance quarter. business flow and $XXX.X in the third sales As the XX.X%, cash All I more of adjusted was as our clearly selling I cash XX.X% versus U.S. results.
Revenue QX XXXX. facets profitability, look outcomes Day million, growing reported. at in a are as with QX the and complete of generation, fundamentally sales quarter performance, see quarter day visible X growth third the was performed the
GAAP versus earnings net share. was million, XX.X% per $X.XX net QX income and resulting quarter. $X.XX compares share. growing This income fully resulting of of diluted $XX.X was earnings non-GAAP fully year fully income earnings million, of 'XX diluted prior Our quarter in the $X.XX net $XXX of in per in share year prior $X GAAP diluted the million QX per to
increase grew share merger. in of per XX% despite earnings non-GAAP diluted XX% shares result the as a quarter a Third
led and Our XX% the contributions driven EBITDA as compared from in was results, cash the quarter, of a flow compared free merger. U.S. pro X.X% businesses. by a Spine was our XXXX. quarter assuming year prior was XX% third to mainly million, NuVasive this grew forma revenue $XXX.X $XXX.X our to the was was International basis, third million.
Musculoskeletal by again Growth quarter Spine musculoskeletal period growing and revenue NuVasive On record quarter adjusted in the prior QX
EGPS our year was increased growing prior quarter. the was EXD versus market within $XX.X million, XX.X% Our QX driven the technologies enabling by and U.S. Growth sales products. across revenue
also sold the EHub represented during we addition, quarter. the for record Overall, our Excelsius units quarter and placed a a units total in In quarter. shipped first third
revenue growing remains market a Looking are reported compared capital year close the year the positioned quarter well strong.
U.S. to pipeline in seek the and million, and with $XXX.X as was ahead to third the we our prior quarter. to XX.X% fourth quarter, strong healthy,
on by quarter a U.S. revenue the U.S. predominantly basis, grew Looking and at pro driven Spine Technologies. Enabling forma X.X%,
XX.X% product-related growth each revenue intangible grown Looking NuVasive and on revenue our the led XX.X% offset of strong in by was back in driven past the GAAP is profit by of The on year gross U.S. countries, which GAAP decline year million, the $XXX.X basis the partially XX% primarily prior call growing Technologies has for since quarter grew basis, merger X.X%, profit On forma quarter. merger, from periods step-up in of primarily the EMEA I presented. the sales.
QX a was the which implant end attention forma by year X compared to inclusive International result international third pro prior predominantly the fourth will closed, in business pro capital reported fact during Enabling U.S. fiscal the our our quarter. quarter, to lower amortization both a compared to amortization gross that our Spine as businesses. during quarters, is
compared in year primarily by rate NuVasive results well amortization, in in quarter. of impacts of as consolidated the our XX.X% in to inclusion The a the driven capital Excluding of quarter. XX.X% gross decline was profit gross prior profit mix the higher was sales non-GAAP as step-up the
full full XXXX. expect adjusted We range the gross for to the be year in rate of the to profit XX% XX% year
quarter was points XXXX expenses sales.
Net interest to expect X level compared from The as convertible improve impacted X interest plan senior in note, X% expect quarter over year third X.X% the our a we third a the million the and compared and the in year rate towards taken. nonrecurring at NuVasive ahead, and X.X% million which net of in expense expense $XXX.X of XX.X% of full still year $X.X XXXX. to were full SG&A the integration compared to the quarter. expenses our spending of results, year driven we of synergy to the a our sales of of to fund at still The compared or in in XX.X% management.
Research percentage for expect margin be in as $XXX.X R&D c, as is actions close from or current range were interest X.X% complete with the NuVasive expenses XXXX down prior we year our reversal, we the comments NuVasive SG&A $X.X SG&A to low to full the for gross quarters, third by quarter previous close.
The which X.X% credit or quarter. development the quarter mid-XXs a was year the result of for percentage quarter, the resulting of million sales Consistent in million by taken million related The assumed share offset directly impact and and $XX.X XX%. million impacted of profit prior the to of and benefit repurchases in Consistent pay sales the $X.X offset adjusted cost leverage actions operations the year unfavorable by merger goal approximately increase expenses of spending. the all by with the manufacturing, partially merger, in was use merger quarter reserve Looking buyback the the related in with prior million is vendor cash year. to in year work prior the expense inclusion to tax on total GAAP rate of prior the of or GAAP by fund well third is year as realize quarter dollars in quarter. prior to of $XX.X Consistent prior the rate to line sales SG&A b, cost across is income favorably synergies the the pretax third income XX.X% fixed last increase NuVasive expectations, pretax back quarter the consolidated partially
Our and non-GAAP nonrecurring not tax rate this does XX.X% for include the quarter was benefit.
non-GAAP year the We the year full to XX% expect XX% cash our to in to for range flow. rate be full tax XXXX.
Shifting of
free and free flow record both was $XXX.X $XXX.X stellar, third cash flow results operating were cash and Operating Our million with flow. quarter cash was million. cash
and flow $XXX.X cash twofold. cash is earlier, the seeing the The our fiscal flow entire are QX flow improved cash which drivers XXXX One, mentioned million. free Dan As for we our was are 'XX cash earnings which essentially benefit impacts P&L are improve; accounts commented unwinding cash as call. of during on our the synergy to and capture our of continue I we first quarter system go-live through the roll two, of to receivable, our
U.S. which systems investment. our temporarily Specifically, in live QX go capital receivable, in a higher impacted working accounts resulted
working issue we to XXXX. improvements and expected expected, drive through this fourth improve the As are quarter seeing into and capital early
our quarter showing approximately business, quarter. sets also namely sales, the free record of achieved investment evidence in was expenditures during were capital where of flow in a the spine X.X% Our cash
Our as be us that CapEx full the complete third of highlight quarters $XXX more sales.
I a company flow we that my for since and X.X% Globus of operating A now viewed cash merged in see the a was that vision commenting trailing quarters, merger, the statement the flow the of quarter. expectation results flow cash a will starting to our million quarter based full fundamentally is envisioned further year key To X.X% we $XXX.X that behind X to have on In cash become I today our million. reality. of XXXX for remarks X range are began was quarter. was we free these financial driver
capital Our remain priorities allocation unchanged.
to over Our and to existing share return it in providing to cash since strong Shifting repay and approach long-term maintain I ahead the senior that merger our early due invest everyone have our notes, intent debt financial repurchases which forward. are to to moving little while remind an closed, repurchases.
Share discipline XXXX, of vision on we to million March shareholders no debt, a $XXX.X $XXX reserves integral part is mature convertible spent through organic million in remain use of opportunities the XXXX. of with and is a to repurchases. inorganic to share looking total will
I'd like spend progress our and synergy to integration Now a capture. minutes few discussing
initiatives Looking we redundancies, operations, contract namely territory further efforts made back focus focused are far on realignments, will and will facilities refinement and equipment remuneration of most of insourcing our U.S. product implementation Ohio. machinery our begun thus XXXX, consolidations, encompass taken Year in actions international our X renegotiations. efficiencies will drive footprint integrations ] in-sourcing the and heavily importantly, and, both the the in on our of that manufacturing its Pennsylvania additional on system efforts. facility We've and systems cost ordering warehouse and [ decisions that of
As this, both to we our capabilities, sense execute legacy new we fostering expand of and approaches know-how seek the all as we and of a will teamwork and collaboration manufacturing knowledge together while organizations. bring expanded with
in As we year expectation incremental X, realize to X year or and X. in of $XX or $XX year XX% million it over synergy in of million or $X incremental the million communicated an previously with capture, ability XX% relates million our X synergies to $XXX years an XX%
While We years, remain time the improvement back $XXX to third realize million the our of of our XXXX urgency as necessary phasing lives. now QX billion in our changing in for year relentlessly are committed again in additional previously savings. $X.X million $XX as ties we XX% over by in approximately and we updates the ahead.
Based increasing the culture sense achieving we updating the patients' be to projections range of end We billion. or outlook timing our a of savings provide are move XX% upon in expect the XX% million with net remainder and or and X, year. to are $XX these to our sales when million moving provided savings the Globus we year, performance employees or expect This X $X.XX of year to now $XX expect We'll guidance. of to X
of X.X% revised over billion. XXXX guidance to pro forma Our implies growth net sales X.X% $X.XXX revenues
growth year sales of a in integration. We extensive are delivering
of we to fully no will call our provide reporting research acquisition revised attention provided acquisition. IP longer non-GAAP XXXX in-process for related we where like change by This a change our R&D a in I'd reporting unfavorably the guidance a non-GAAP will our quarter diluted during EPS $X.XX development. impact I previously QX non-GAAP adjust Before and 'XX of the of the impact guidance, made to result to EPS as
Given expectations this our business well as change, on as performance.
is to to per $X.XX diluted fully in share. now fully range of revised be expected Our EPS diluted non-GAAP $X the
longer comparable R&D by Our with $X.XX more IP driven to the improving acquisition impact non-GAAP revised increase offset previously adjusting business of the closely GAAP our no most guidance a assumes stated. while operational by the range partially measure. enhanced Overall, views performance $X.XX performance, reflects due profitability change this reporting as our for to aligning of
innovation employees we've on and strength disciplined dedication. the record on the in growth, and Our right to reflected operational enhanced time. our of price maintaining excellence thus the right culture new I'd of what's again based underlying with have I'm we investing our to our a on the ensuring business. continued and their thank to QX for business. product while pleased flow, still out to remain cost, at cash performance for focused, sales deliver state commitment my approach and achieved partners and In our to our once products change, generated of comments, We all extremely excited like our results free meaningful profitability and drove come.
Closing
call We will now questions. open for the
