Short answer
CONMED Corp (CNMD) filed its fiscal 2025 10-K annual report with the SEC on Feb 17, 2026. It reported revenue of $1.4B (+5.2% year over year) and net income of $47M.
- Top risk flagged: Financial risk $840M long-term debt with $800M convertible notes due 2027 requiring incremental financing
FY2025 key financial metrics · XBRL
- Revenue
- $1.4B
- +5.2% YoY
- Net income
- $47M
- −64.5% YoY
- Operating margin
- 7.5%
- −7.9 pp YoY
- Gross margin
- 54.6%
- −1.5 pp YoY
- EPS (diluted)
- $1.51
- −64.5% YoY
- ROE
- 4.6%
- −9.2 pp YoY
- Operating cash flow
- $171M
- +2.2% YoY
Source: XBRL data from the CONMED Corp (CNMD) FY2025 10-K on SEC EDGAR. USD.
CONMED Corp FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model centered on medical industry products and services, emphasizing talent attraction and retention amid intense competition
- Suspension of quarterly dividend payments since October 2025 to extend share repurchase program, with future dividends uncertain due to financial and legal constraints
- Anti-takeover provisions enhanced through board powers to issue preferred stock and procedural safeguards delaying change of control transactions
- ESG regulatory compliance and corporate responsibility initiatives posing rising costs and risks, with potential fines, litigation, and reputational impact
- No new products or segments introduced; focus on governance measures and evolving ESG landscape as distinctive 2026 filing themes
Management Discussion & Analysis
- Revenue $555M, flat YoY with orthopedic surgery and general surgery stable at 42% and 58% of sales respectively
- Gross margin 48.3% vs 49.1% in prior year, reflecting inflationary cost pressures and supply chain challenges
- Best segment: General surgery $321M, stable at 58% of sales; worst segment: Orthopedic surgery $234M, stable at 42% of sales
- Capital allocation impacted by inflation with no specific buybacks, dividends, or capex disclosed in the section
- Management engaged consultant in 2025 to improve manufacturing operations amid inflation, tariffs, and supply chain risks
Risk Factors
- Financial risk $840M long-term debt with $800M convertible notes due 2027 requiring incremental financing
- Operational risk increased capital spending expected in 2026 funded by operating cash flow with monitored control
- Market disruption risk share repurchase program $150M authorized, suspending dividends after $24.7M paid in 2025
- Financial risk $61.4M contingent consideration payments due entirely within 1 year creating payment uncertainty
- Financial risk revolving credit facility unused $648.5M availability with $40M term loan outstanding as of 12/31/25
Generated from the filing text; verify against the original. How to read a 10-K
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