Enovis (ENOV) FY2024 results: revenue $2.1 billion, up 23.5% on the year

Enovis Corp. (ENOV) reported revenue of $2.1 billion for fiscal 2024, the year ended 31 December 2024, up 23.5% on the year before. Net income was -$825 million, and diluted earnings per share $-14.93. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2025.

Revenue

$2.1 billion

+23.5% on the year

FY2017FY2024

Operating margin

-36.8%

-3.8% a year earlier

FY2017FY2024

Net income

-$825 million

FY2017FY2024

Diluted EPS

-$14.93

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	2,108	1,707	1,563	+23.5%
Cost of revenue	927	716	694	+29.4%
Gross profit	1,181	991	869	+19.2%
Gross margin	56.0%	58.0%	55.6%
Research and development	91.3	75.3	60.8	+21.2%
Selling, general and administrative	1,027	830	773	+23.7%
Operating income	-776	-65.7	-71.2
Operating margin	-36.8%	-3.8%	-4.6%
Interest expense	57.1	19.7	24.1	+189.1%
Pre-tax income	-823	-67.1	-2.1
Income tax	4.5	-13.3	36.1
Net income	-825	-33.3	-13.3
Net margin	-39.2%	-1.9%	-0.9%
Diluted EPS	-$14.93	-$0.61	-$0.25

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	114	135	-55.9	-15.9%
Capital expenditure	181	122	105	+47.9%
Free cash flow	-67.2	12.8	-161
Free cash flow margin	-3.2%	0.7%	-10.3%
Cash from investing	-955	-242	-176
Cash from financing	847	128	-465	+562.6%
Depreciation and amortisation	928	217	203	+327.4%
Share-based compensation	29.7	34.1	39.0	-12.9%
Buybacks	4.8	0.0	0.0
Diluted shares, weighted	55m	54m	54m	+1.4%
Shares outstanding at period end	56m	55m	54m	+2.3%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	2,562	3,418	3,448	-25.0%
Non-controlling interest	2.1	2.3	1.7	-10.5%
Debt	1,330	466	259	+185.2%
Other liabilities	825	622	564	+32.5%
Total liabilities and equity	4,719	4,509	4,273	+4.6%
Fixed assets	404	271	237	+49.4%
Goodwill	1,693	2,061	1,984	-17.9%
Intangible assets	1,317	1,127	1,111	+16.9%
Cash and equivalents	48.2	36.2	24.3	+33.1%
Receivables	407	291	267	+39.6%
Inventory	547	469	427	+16.7%
Other assets	302	254	224	+18.9%
Total assets	4,719	4,509	4,273	+4.6%

10-K for the year ended 31 December 2024, filed 26 February 2025: the filing.