Enovis Reports Strong Q4 and Full-Year 2025 Results

Medical technology company highlights organic growth, margin expansion, and free cash flow improvements.

Published on Mar. 2, 2026

Got story updates? Submit your updates here. ›

Enovis (NYSE:ENOV) reported fourth-quarter and full-year 2025 results that management said reflected 'strong performance' across its global organization, while also acknowledging execution shortcomings late in the year and outlining a 2026 outlook that targets continued organic growth, margin expansion, and a step-up in free cash flow conversion.

Why it matters

Enovis is a leading medical technology company focused on musculoskeletal health, with a portfolio of specialized products and services. The company's Q4 and full-year 2025 results provide insights into the performance and growth trajectory of this key player in the orthopedics and rehabilitation market.

The details

For the fourth quarter, Enovis posted sales of $576 million, up 3% on a reported basis and up 2% organically. The company's Reconstruction (Recon) segment grew 3%, while Prevention & Recovery (PNR) was flat. Adjusted gross margin rose to 61%, up 170 basis points, driven by favorable mix, ongoing productivity, and realized manufacturing and supply chain synergies. Adjusted EBITDA margin was 17.9%, flat year over year, which the company attributed to higher R&D investment and an inability to fully mitigate tariff impacts.

  • Enovis reported fourth-quarter and full-year 2025 results.
  • The company expects to showcase innovations, including ARVIS, at the AAOS conference in New Orleans in 2026.

The players

Enovis

A global medical technology company focused on advancing the field of musculoskeletal health, formed through the separation of the MedTech business from Colfax Corporation in 2021.

Damien McDonald

CEO of Enovis.

Colfax Corporation

The parent company that Enovis was spun off from in 2021.

Got photos? Submit your photos here. ›

What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

What’s next

The company plans to showcase innovations, including ARVIS, at the AAOS conference in New Orleans in 2026.

The takeaway

Enovis reported strong financial performance in 2025, with organic growth, margin expansion, and improved free cash flow. The company is focused on driving innovation, executing cross-selling synergies, and shaping its portfolio to support continued above-market growth in 2026 and beyond.