Summary
Boston Scientific Corporation (BSX) reported strong financial performance for the fiscal year ended December 31, 2024. Net sales increased significantly by 17.6% to $16.747 billion, driven by robust commercial execution across all business units, particularly the Electrophysiology segment benefiting from the successful launch and rapid adoption of the Farapulse™ Pulsed Field Ablation System. The company also completed strategic acquisitions, including Axonics, Inc. and Silk Road Medical, Inc., which are expected to contribute to future growth. Profitability saw a substantial increase, with reported net income attributable to common stockholders reaching $1.853 billion ($1.25 per diluted share). On an adjusted basis, which excludes certain charges and credits, net income was $3.725 billion ($2.51 per diluted share). The company maintained a strong balance sheet and positive cash flow from operations, indicating effective management of resources and strategic investments. BSX continues to focus on innovation and expanding its global presence, positioning itself for continued growth in the medical technology sector.
Financial Highlights
51 data points| Revenue | $16.75B |
| Cost of Revenue | $5.26B |
| Gross Profit | $11.49B |
| SG&A Expenses | $5.98B |
| Operating Expenses | $8.89B |
| Operating Income | $2.60B |
| Interest Expense | $305.00M |
| Net Income | $1.85B |
| EPS (Basic) | $1.26 |
| EPS (Diluted) | $1.25 |
| Shares Outstanding (Basic) | 1.47B |
| Shares Outstanding (Diluted) | 1.49B |
Key Highlights
- 1Net sales grew 17.6% to $16.747 billion, driven by strong performance across all segments, especially Electrophysiology (Farapulse™ PFA System).
- 2Reported net income was $1.853 billion ($1.25 per diluted share), with adjusted net income of $3.725 billion ($2.51 per diluted share).
- 3Completed significant acquisitions of Axonics, Inc. and Silk Road Medical, Inc., bolstering the Urology and Peripheral Interventions portfolios, respectively.
- 4Invested $2.145 billion in Eurobonds to fund acquisitions and general corporate purposes, strengthening liquidity.
- 5Maintained a strong leverage ratio of 2.26x, well within covenant requirements, and ended the year with $414 million in unrestricted cash and cash equivalents.
- 6R&D expenses increased 14% to $1.615 billion, reflecting continued investment in product innovation and pipeline development.
- 7Gross profit margin was 68.6%, slightly lower than the prior year due to inventory charges and strategic investments, partially offset by higher-margin product sales.