# Boston Scientific (BSX) Q2 2025 Financial Results Summary
Boston Scientific Corporation (NYSE: BSX) released its financial results for the second quarter of 2025 on July 23, 2025. Here’s a summary of the key metrics and insights from the report.
## Financial Highlights
– **Net Sales**:
– **Total**: $5.061 billion, up **22.8%** year-over-year on a reported basis.
– **Operational Growth**: **21.6%**, excluding foreign currency impacts.
– **Organic Growth**: **17.4%**, factoring out acquisitions and divestitures.
– **GAAP Net Income**:
– **Total**: $797 million or $0.53 per share, compared to $324 million or $0.22 per share a year ago, marking an increase of **146.9%** in net income and **140.9%** in EPS year-over-year.
– **Adjusted EPS**:
– **Total**: $0.75, compared to $0.62 a year ago, indicating a growth of **20.97%**.
## Segment Performance
– **MedSurg Segment**:
– Net Sales Growth: **15.7%** reported, **14.7%** operational, **7.0%** organic.
– **Cardiovascular Segment**:
– Net Sales Growth: **26.8%** reported, **25.5%** operational, **23.2%** organic.
## Regional Performance
– **United States**:
– Net Sales: **30.7%** increase reported and operationally.
– **Europe, Middle East, and Africa (EMEA)**:
– Net Sales: **6.8%** reported, but only **1.8%** operational growth.
– **Asia-Pacific (APAC)**:
– Net Sales: **18.0%** reported and **15.4%** operational increase.
– **Latin America and Canada (LACA)**:
– Net Sales: **4.0%** reported, **8.9%** operational growth.
– **Emerging Markets**:
– Net Sales: **11.6%** reported growth and **12.1%** operational growth.
## Recent Developments
– Received FDA approval to expand the labeling for the FARAPULSE™ Pulsed Field Ablation (PFA) System.
– Commenced enrollment in the ReMATCH IDE clinical trial for FARAWAVE™ and FARAPOINT™ PFA Catheters.
– Secured CE mark for the WATCHMAN FLX™ Pro Left Atrial Appendage Closure Device.
– Completed acquisitions of Intera Oncology® Inc. and SoniVie Ltd., enhancing its medical device portfolio.
## Guidance
– **Full Year 2025 Guidance**:
– Estimated net sales growth of approximately **18% to 19%** on a reported basis and **14% to 15%** on an organic basis.
– GAAP EPS estimated between **$1.89 to $1.93** and adjusted EPS expected between **$2.95 to $2.99**.
– **Q3 2025 Guidance**:
– Estimated net sales growth of **17% to 19%** on a reported basis and **12% to 14%** on an organic basis.
– GAAP EPS estimated between **$0.44 to $0.46** and adjusted EPS expected between **$0.70 to $0.72**.
## Dividends and Share Repurchases
– The report did not mention any quarterly dividend declarations or share repurchase activities during this period.
## Conclusion
Boston Scientific demonstrated robust growth in the second quarter of 2025, with significant increases in both net revenue and earnings per share. The continued focus on innovative products and expanding its market presence in different regions bodes well for the company’s outlook in the near future.
For further information, analysts and investors are encouraged to participate in the conference call scheduled for today at 8:00 a.m. ET, where company management will discuss these results in more detail.
| 2025 | 2024 | 2025 | 2024 | |
|---|---|---|---|---|
| Net sales | $5,061 | $4,120 | $9,724 | $7,977 |
| Cost of products sold | 1,637 | 1,270 | 3,090 | 2,479 |
| Gross profit | 3,424 | 2,850 | 6,633 | 5,498 |
| Operating expenses: | ||||
| Selling, general and administrative expenses | 1,716 | 1,446 | 3,312 | 2,810 |
| Research and development expenses | 526 | 383 | 969 | 749 |
| Royalty expense | 14 | 9 | 28 | 19 |
| Amortization expense | 225 | 213 | 444 | 427 |
| Intangible asset impairment charges | 46 | 276 | 46 | 276 |
| Contingent consideration net expense (benefit) | -5 | 2 | 0 | 18 |
| Restructuring net charges (credits) | 83 | 1 | 93 | 5 |
| 2,605 | 2,330 | 4,894 | 4,303 | |
| Operating income (loss) | 819 | 520 | 1,740 | 1,195 |
| Other income (expense): | ||||
| Interest expense | -90 | -77 | -172 | -146 |
| Other, net | 213 | -23 | 179 | -21 |
| Income (loss) before income taxes | 941 | 420 | 1,746 | 1,028 |
| Income tax expense (benefit) | 146 | 98 | 279 | 213 |
| Net income (loss) | 795 | 322 | 1,467 | 815 |
| Net income (loss) attributable to noncontrolling interests | -2 | -2 | -4 | -4 |
| Net income (loss) attributable to Boston Scientific common stockholders | $797 | $324 | $1,471 | $819 |
| Net income (loss) per common share – basic | $0.54 | $0.22 | $0.99 | $0.56 |
| Net income (loss) per common share – diluted | $0.53 | $0.22 | $0.98 | $0.55 |
| Weighted-average shares outstanding | ||||
| Basic | 1,479.9 | 1,470.6 | 1,478.5 | 1,469.5 |
| Diluted | 1,493.5 | 1,484.2 | 1,493.3 | 1,483.0 |
| Amounts may not add due to rounding. |
| 2025 | 2024 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $1,263 | $1,275 |
| Accounts receivable | 2,937 | 2,655 |
| Inventories | 1,658 | 1,806 |
| Other current assets | 334 | 179 |
| Total current assets | 6,192 | 5,915 |
| Property, plant and equipment | 3,344 | 3,217 |
| Goodwill | 3,810 | 3,626 |
| Intangible assets | 1,571 | 1,622 |
| Other assets | 755 | 628 |
| Total assets | $15,672 | $15,208 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 1,048 | 925 |
| Accrued liabilities | 1,116 | 1,052 |
| Current portion of debt | 657 | 382 |
| Total current liabilities | 2,821 | 2,359 |
| Long-term debt | 4,453 | 5,078 |
| Other long-term liabilities | 823 | 917 |
| Total liabilities | 8,097 | 8,354 |
| Total equity: | ||
| Common stock | 3 | 3 |
| Additional paid-in capital | 6,149 | 5,751 |
| Retained earnings | 1,423 | 801 |
| Accumulated other comprehensive income (loss) | -3 | -1 |
| Total equity | 7,575 | 6,854 |
| Total liabilities and equity | $15,672 | $15,208 |
| Amounts may not add due to rounding. |
