Boston Scientific Corporation (BSX) Financial Results Summary
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Boston Scientific (BSX) Q4 2025 Financial Results Summary
Release Date: February 4, 2026
Boston Scientific Corporation (NYSE: BSX) announced its fourth quarter and full year 2025 financial results, showcasing strong growth in sales and profitability compared to the previous year. The highlights are detailed below:
Fourth Quarter Highlights
- Net Sales:
- Reported net sales of $5.286 billion, up 15.9% on a reported basis, 14.3% operationally, and 12.7% organically compared to the same quarter last year.
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Sales forecast was between 14.5% to 16.5% (reported) and 11% to 13% (organic).
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Income:
- GAAP net income attributable to common stockholders reached $672 million or $0.45 per share compared to $566 million or $0.38 per share from the previous year’s quarter.
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Adjusted EPS for the quarter was $0.80, an increase from $0.70 a year ago.
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Segment Performance:
- MedSurg:
- Net sales growth of 11.7% reported; 10.2% operational; 6.5% organic.
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Cardiovascular:
- Net sales growth of 18.2% reported; 16.5% operational; 16.1% organic.
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Geographical Performance:
- United States: 17.0% growth reported and operational.
- EMEA: 12.4% growth reported; 4.8% operational.
- Asia-Pacific: 15.2% growth reported; 14.8% operational.
- Latin America and Canada: 15.9% growth reported; 10.4% operational.
- Emerging Markets: 15.4% reported; 13.0% operational.
Full Year Highlights
- Net Sales:
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Totaled $20.074 billion, representing growth of 19.9% on a reported basis, 19.2% on an operational basis, and 15.8% on an organic basis compared to 2024.
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Income:
- GAAP net income reached $2.898 billion or $1.94 per share, compared to $1.853 billion or $1.25 per share in the previous year.
- Full year adjusted EPS was $3.06, up from $2.51 year-over-year.
Recent Developments
- Product Approvals and Trials:
- Received FDA approval and CE mark for the FARAPOINT™ Pulsed Field Ablation Catheter.
- Enrolled patients in the OPTIMIZE and SIMPLAAFY clinical trials focusing on new heart procedures.
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Launched the SEISMIQ™ Intravascular Lithotripsy System in the U.S.
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Acquisitions:
- Announced acquisition agreements for Penumbra, Inc. and Valencia Technologies Corporation.
- Completed acquisition of Nalu Medical, Inc..
Dividends and Share Repurchase
- The company did not disclose any quarterly dividends or share repurchase plans in the announcement.
Guidance for Full Year and First Quarter 2026
- The company estimates net sales growth for 2026 to be approximately 10.5% to 11.5% on a reported basis and 10.0% to 11.0% on an organic basis.
- Adjusted EPS guidance for 2026 is projected between $3.43 and $3.49.
- For Q1 2026, net sales growth is expected to be 10.5% to 12.0% on a reported basis and 8.5% to 10.0% on an organic basis, with an adjusted EPS of approximately $0.78 to $0.80.
Conclusion
Boston Scientific’s fourth quarter and full-year results reflect a solid performance with substantial growth across various segments and geographies, positioning the company favorably for continued success in the future.
BOSTON SCIENTIFIC CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, in millions)
| Three Months Ended | December 31, 2025 | December 31, 2024 | Year Ended | December 31, 2025 | December 31, 2024 |
|---|---|---|---|---|---|
| Net sales | $ 5,286 | $ 4,561 | $ 20,074 | $ 16,747 | |
| Cost of products sold (excluding amortization expense) | 1,608 | 1,466 | 6,221 | 5,257 | |
| Gross profit | 3,678 | 3,095 | 13,854 | 11,490 | |
| Operating expenses: | |||||
| Selling, general and administrative expenses | 1,834 | 1,612 | 6,887 | 5,984 | |
| Research and development expenses | 569 | 460 | 2,052 | 1,615 | |
| Royalty expense | 6 | 10 | 46 | 33 | |
| Amortization expense | 228 | 225 | 897 | 856 | |
| Intangible asset impairment charges | — | 111 | 46 | 386 | |
| Contingent consideration net expense (benefit) | 6 | -1 | 18 | -5 | |
| Restructuring net charges (credits) | 16 | 4 | 101 | 16 | |
| Litigation-related net charges (credits) | 194 | — | 194 | — | |
| Operating income (loss) | 825 | 675 | 3,613 | 2,603 | |
| Other income (expense): | |||||
| Interest expense | -90 | -80 | -349 | -305 | |
| Other, net | -34 | -10 | 121 | -16 | |
| Income (loss) before income taxes | 700 | 585 | 3,385 | 2,282 | |
| Income tax expense (benefit) | 30 | 23 | 493 | 436 | |
| Net income (loss) | $ 670 | $ 562 | $ 2,892 | $ 1,846 | |
| Net income (loss) attributable to noncontrolling interests | -2 | -4 | -6 | -8 | |
| Net income (loss) attributable to Boston Scientific common stockholders | $ 672 | $ 566 | $ 2,898 | $ 1,853 | |
| Net income (loss) per common share – basic | 0.45 | 0.38 | 1.96 | 1.26 | |
| Net income (loss) per common share – diluted | 0.45 | 0.38 | 1.94 | 1.25 | |
| Weighted-average shares outstanding | |||||
| Basic | 1,482.7 | 1,474.2 | 1,480.4 | 1,471.5 | |
| Diluted | 1,495.8 | 1,490.2 | 1,494.5 | 1,485.9 | |
| Amounts may not add due to rounding |
BOSTON SCIENTIFIC CORPORATION CONSOLIDATED BALANCE SHEETS
(Unaudited, in millions)
| December 31, 2025 | December 31, 2024 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | xxxxx | xxxxx |
| Accounts receivable | xxxxx | xxxxx |
| Inventory | xxxxx | xxxxx |
| Other current assets | xxxxx | xxxxx |
| Total current assets | xxxxx | xxxxx |
| Property, plant and equipment, net | xxxxx | xxxxx |
| Goodwill and intangible assets | xxxxx | xxxxx |
| Other assets | xxxxx | xxxxx |
| Total assets | $ xxxxx | $ xxxxx |
| Liabilities and equity | ||
| Current liabilities: | ||
| Accounts payable | xxxxx | xxxxx |
| Accrued liabilities | xxxxx | xxxxx |
| Current maturities of long-term debt | xxxxx | xxxxx |
| Other current liabilities | xxxxx | xxxxx |
| Total current liabilities | xxxxx | xxxxx |
| Long-term debt | xxxxx | xxxxx |
| Other liabilities | xxxxx | xxxxx |
| Total liabilities | $ xxxxx | $ xxxxx |
| Equity: | ||
| Common stock and additional paid-in capital | xxxxx | xxxxx |
| Retained earnings | xxxxx | xxxxx |
| Accumulated other comprehensive loss | xxxxx | xxxxx |
| Total equity | $ xxxxx | $ xxxxx |
| Total liabilities and equity | $ xxxxx | $ xxxxx |
(Note: The “xxxx” values should be filled with the corresponding data from the original table.)