WILMINGTON, DE — Enovis™ Corporation (NYSE: ENOV) has announced its financial results for the fourth quarter and full year of 2024, showcasing substantial growth across key segments while addressing a significant goodwill impairment charge.
Fourth-quarter net sales reached $561 million, reflecting a 23% increase on a reported basis and 6% growth on a Comparable Sales basis compared to the same period in 2023. The Reconstructive segment experienced remarkable growth, with reported sales surging 59% year-over-year, driven in part by the successful integration of Lima. Prevention & Recovery achieved steady sales growth of 2% on a reported basis and 3% on a Comparable Sales basis.
Despite these strong top-line results, the company reported a fourth-quarter net loss from continuing operations of $704 million. This loss includes a non-cash goodwill impairment charge of $645 million, attributed to a decline in stock price and market capitalization relative to the value of its reporting units. Adjusted EBITDA for the quarter increased to $113 million, representing 20% of sales and a 210-basis-point improvement from the prior year.
For the full year 2024, Enovis reported net sales of $2.1 billion, up 23% on a reported basis. Adjusted EBITDA reached $377 million, with year-over-year margin expansion of 210 basis points, while adjusted earnings per share were $2.84.
“Our performance in 2024 marks a transformational year for the Company as we executed our integration plans and solidified our ability to deliver sustainable high-single-digit organic growth and year-over-year margin expansion,” said Matt Trerotola, Chief Executive Officer of Enovis. “Our strong finish in 2024 has set a solid foundation for 2025 with key new product launches positioned to drive above-market growth rates.”
Looking ahead, Enovis expects 2025 revenue to range between $2.19 billion and $2.22 billion, with organic growth of 6% to 6.5%. Adjusted EBITDA is forecasted at $405 million to $415 million, representing continued margin expansion, and adjusted earnings per share are projected to be between $3.10 and $3.25.
Enovis states that it remains focused on advancing its position as a global MedTech leader, driving innovation, and delivering industry-leading growth.
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