Short answer
Edwards Lifesciences (EW) filed its Q3 2025 10-Q quarterly report on Nov 5, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $1.6B (up 17.6% year over year) with net income of $291M.
Q3 2025 key financials · XBRL
- Revenue
- $1.6B
- +17.6% YoY · +1.4% QoQ
- Net income
- $291M
- −90.5% YoY · −12.6% QoQ
- Operating margin
- 19.8%
- Gross margin
- 77.8%
- EPS (diluted)
- $0.49
- −90.4% YoY · −14.0% QoQ
Source: XBRL data from the Edwards Lifesciences (EW) Q3 2025 10-Q on SEC EDGAR. USD.
Edwards Lifesciences Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $1.55B for Q3 2025, up 14.7% YoY from $1.35B; nine-month revenue $4.50B, up 11.0% YoY from $4.05B
- Gross profit rose YoY but gross margin declined due to forex and higher expenses; effective tax rate 16.1% vs 9.2% YoY for nine months
- Best segment TMTT with 59.3% revenue growth Q3 ($145.2M vs $91.1M); worst Surgical with 7.5% growth Q3 ($258.0M vs $240.0M)
- Operating cash flow $1.14B, up $474.5M YoY; share repurchases $845M in nine months; cash and equivalents $3.84B as of Q3 2025
- Near-term headwinds include higher tax rate from Pillar Two global minimum tax, ongoing US IRS transfer pricing disputes, and tariff uncertainties
Risk Factors
- No material changes to Risk Factors compared to 2024 10-K
- Continued exposure to product liability risks in medical device industry
- Ongoing regulatory compliance risks from FDA and international agencies
- Market competition pressures from new valve technologies remain significant
- Financial risks include foreign currency fluctuations impacting revenue and expenses
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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