On February 4, 2026 Boston Scientific Corporation (NYSE: BSX) reported net sales of $5.286 billion during the fourth quarter of 2025, growing 15.9 percent on a reported basis, 14.3 percent on an operational1 basis and 12.7 percent on an organic2 basis, all compared to the prior year period. The company reported GAAP net income attributable to Boston Scientific common stockholders of $672 million or $0.45 per share (EPS), compared to $566 million or $0.38 per share a year ago, and achieved adjusted3 EPS of $0.80 for the period, compared to $0.70 a year ago.
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For the full year 2025, the company generated net sales of $20.074 billion, growing 19.9 percent on a reported basis, 19.2 percent on an operational1 basis and 15.8 percent on an organic2 basis, all compared to the prior year period. The company reported GAAP net income attributable to Boston Scientific common stockholders of $2.898 billion or $1.94 per share, compared to $1.853 billion or $1.25 per share a year ago, and delivered full year adjusted3 EPS of $3.06, compared to $2.51 a year ago.
"2025 was another exceptional year for Boston Scientific, with our global teams delivering differentiated innovation and high performance that enabled us to exceed our goals," said Mike Mahoney, chairman and chief executive officer, Boston Scientific. "As a direct result of the dedication, consistency and winning spirit of our team, we have impacted millions of patient lives and are well-positioned to continue on our strong growth trajectory well into the future."
Fourth quarter financial results and recent developments:
Reported net sales of $5.286 billion, representing an increase of 15.9 percent on a reported basis, compared to the company’s guidance range of 14.5 to 16.5 percent; 14.3 percent on an operational basis; and 12.7 percent on an organic basis, compared to the company’s guidance range of 11 to 13 percent, all compared to the prior year period.
Reported GAAP net income attributable to Boston Scientific common stockholders of $0.45 per share, compared to the company’s guidance range of $0.48 to $0.52 per share, and achieved adjusted EPS of $0.80 per share, compared to the guidance range of $0.77 to $0.79 per share.
Achieved the following net sales growth in each reportable segment, compared to the prior year period:
MedSurg: 11.7 percent reported, 10.2 percent operational and 6.5 percent organic
Cardiovascular: 18.2 percent reported, 16.5 percent operational and 16.1 percent organic
Achieved the following net sales growth in each region, compared to the prior year period:
United States (U.S.): 17.0 percent reported and operational
Europe, Middle East and Africa (EMEA): 12.4 percent reported and 4.8 percent operational
In the second quarter of 2025, management made the decision to discontinue worldwide sales of the ACURATE neo2 and ACURATE Prime Aortic Valve Systems, which had prior year global sales of approximately $50 million per quarter
Asia-Pacific (APAC): 15.2 percent reported and 14.8 percent operational
Latin America and Canada (LACA): 15.9 percent reported and 10.4 percent operational
Emerging Markets4: 15.4 percent reported and 13.0 percent operational
Received U.S. Food and Drug Administration (FDA) approval and CE mark for the FARAPOINT Pulsed Field Ablation (PFA) Catheter, a nav-enabled, focal PFA catheter that can create focal and linear-shaped lesions within a single device.
Commenced enrollment in the OPTIMIZE clinical trial, which uses the Cortex OPTIMAP Electrographic Flow (EGF) Mapping Technology with the FARAPULSE PFA Platform to evaluate how EGF-guided mapping and delivery of PFA to atrial fibrillation (AF) sources outside the pulmonary veins impacts outcomes for patients with persistent AF, compared to traditional anatomic approaches.
Completed enrollment in the SIMPLAAFY clinical trial evaluating two single-drug regimens as post-procedural alternatives to dual anti-platelet therapy following implantation of the WATCHMAN FLX Pro Left Atrial Appendage Closure Device in patients with AF.
Initiated U.S. launch of the SEISMIQ Intravascular Lithotripsy (IVL) System to treat patients with complex calcified peripheral artery disease.
Completed enrollment in the global FRACTURE IDE clinical trial evaluating the use of the SEISMIQ IVL System to treat patients with complex calcified coronary artery disease.
Received U.S. FDA 510(k) clearance for the TheraSphere 360 Y-90 Management Platform, a web-based platform that simplifies ordering TheraSphere Y-90 and helps care teams plan, dose and track the therapy for patients with liver cancer.
Received positive coverage for the Intracept Procedure from Health Care Service Corporation and launched the Intracept EDGE J Stylet, the latest advancement to the Intracept Procedure System, designed to improve access to the basivertebral nerve and streamline the treatment experience.
Commenced enrollment in the MOSAIC study, using commercially approved Boston Scientific Spinal Cord Stimulation (SCS) Systems, to evaluate the effectiveness of time variant pulse patterns of SCS and compile real-world clinical outcomes in subjects with chronic, intractable low back and/or leg pain.
Received U.S. coverage of Endoscopic Sleeve Gastroplasty (ESG), using the OverStitch Endoscopic Suturing System, by Elevance Health (formerly Anthem) beginning December 18, 2025, and recognition by The American Society for Metabolic and Bariatric Surgery of ESG as an endorsed procedure, expanding patient access to an innovative, less invasive weight-loss solution.
Received CE mark for the MOSES Raydar Holmium Laser System, which is designed to increase ablation efficiency by maintaining an effective proximity range between the laser fiber tip and kidney stone during lithotripsy procedures.
Announced agreement to acquire Penumbra, Inc., (NYSE: PEN) a publicly traded company that offers thrombectomy products for use in peripheral vascular procedures, minimally invasive peripheral embolization technologies and differentiated neurovascular solutions for access, stroke revascularization and neuro embolization – subject to customary closing conditions.
Announced agreement to acquire Valencia Technologies Corporation, a privately held company focused on the development and commercialization of the eCoin System, an implantable tibial nerve stimulation device for the treatment of urge urinary incontinence — subject to customary closing conditions.
Completed the acquisition of Nalu Medical, Inc., developer of the Nalu Neuromodulation System, designed to use peripheral nerve stimulation to deliver targeted relief for adults living with severe, intractable chronic pain of peripheral nerve origin.
1.
Operational net sales growth excludes the impact of foreign currency fluctuations.
2.
Organic net sales growth excludes the impact of foreign currency fluctuations and net sales attributable to certain acquisitions and divestitures for which there are less than a full period of comparable net sales.
3.
Adjusted EPS excludes the impacts of certain charges (credits) which may include amortization expense, goodwill and other intangible asset impairment charges, acquisition/divestiture-related net charges (credits), investment portfolio net losses (gains) and impairments, restructuring and restructuring-related net charges (credits), certain litigation-related net charges (credits), European Union (EU) Medical Device Regulation (MDR) implementation costs, debt extinguishment net charges, deferred tax expenses (benefits) and certain discrete tax items.
4.
Our Emerging Markets countries include all countries except the United States, Western and Central Europe, Japan, Australia, New Zealand and Canada.
Net sales for the fourth quarter by business and region:
Increase/(Decrease)
Three Months Ended
December 31,
Reported
Basis
Impact of
Foreign
Currency
Fluctuations
Operational
Basis
Impact of
Certain
Acquisitions/
Divestitures
Organic
Basis
(in millions)
2025
2024
Endoscopy
$ 760
$ 690
10.1 %
(1.9) %
8.2 %
— %
8.2 %
Urology
717
630
13.8 %
(1.1) %
12.7 %
(9.5) %
3.2 %
Neuromodulation
332
299
11.1 %
(1.2) %
9.9 %
— %
9.9 %
MedSurg
1,809
1,619
11.7 %
(1.5) %
10.2 %
(3.7) %
6.5 %
Cardiovascular
3,477
2,942
18.2 %
(1.7) %
16.5 %
(0.4) %
16.1 %
Net Sales
$ 5,286
$ 4,561
15.9 %
(1.6) %
14.3 %
(1.6) %
12.7 %
Increase/(Decrease)
Three Months Ended
December 31,
Reported
Basis
Impact of
Foreign
Currency
Fluctuations
Operational
Basis
(in millions)
2025
2024
U.S.
$ 3,385
$ 2,893
17.0 %
— %
17.0 %
EMEA
933
830
12.4 %
(7.6) %
4.8 %
APAC
788
684
15.2 %
(0.4) %
14.8 %
LACA
179
155
15.9 %
(5.5) %
10.4 %
Net Sales
$ 5,286
$ 4,561
15.9 %
(1.6) %
14.3 %
Emerging Markets4
$ 771
$ 668
15.4 %
(2.5) %
13.0 %
Amounts may not add due to rounding. Growth rates are based on actual, non-rounded amounts and may not recalculate precisely.
Net sales growth rates that exclude the impact of foreign currency fluctuations and/or the impact of certain acquisitions/divestitures are not prepared in accordance with U.S. GAAP.
Net sales for the full year by business and region:
Increase/(Decrease)
Year Ended
December 31,
Reported
Basis
Impact of
Foreign
Currency
Fluctuations
Operational
Basis
Impact of
Certain
Acquisitions/
Divestitures
Organic
Basis
(in millions)
2025
2024
Endoscopy
$ 2,916
$ 2,687
8.6 %
(0.8) %
7.8 %
(0.1) %
7.7 %
Urology
2,709
2,200
23.1 %
(0.4) %
22.7 %
(17.9) %
4.7 %
Neuromodulation
1,199
1,106
8.4 %
(0.4) %
8.0 %
— %
8.0 %
MedSurg
6,824
5,993
13.9 %
(0.6) %
13.3 %
(6.6) %
6.7 %
Cardiovascular
13,250
10,755
23.2 %
(0.7) %
22.5 %
(1.6) %
20.8 %
Net Sales
$ 20,074
$ 16,747
19.9 %
(0.7) %
19.2 %
(3.4) %
15.8 %
Increase/(Decrease)
Year Ended
December 31,
Reported
Basis
Impact of
Foreign
Currency
Fluctuations
Operational
Basis
(in millions)
2025
2024
U.S.
$ 12,864
$ 10,210
26.0 %
— %
26.0 %
EMEA
3,451
3,228
6.9 %
(3.7) %
3.2 %
APAC
3,080
2,686
14.7 %
(0.2) %
14.5 %
LACA
678
624
8.7 %
2.0 %
10.7 %
Net Sales
$ 20,074
$ 16,747
19.9 %
(0.7) %
19.2 %
Emerging Markets4
$ 2,985
$ 2,680
11.4 %
0.2 %
11.6 %
Amounts may not add due to rounding. Growth rates are based on actual, non-rounded amounts and may not recalculate precisely.
Net sales growth rates that exclude the impact of foreign currency fluctuations and/or the impact of certain acquisitions/divestitures are not prepared in accordance with U.S. GAAP.
Guidance for Full Year and First Quarter 2026
The company estimates net sales growth for the full year 2026, versus the prior year period, to be approximately 10.5 to 11.5 percent on a reported basis and 10.0 to 11.0 percent on an organic basis. Full year organic net sales guidance excludes the impact of foreign currency fluctuations and net sales attributable to certain acquisitions and divestitures for which there are less than a full period of comparable net sales. The company estimates adjusted EPS, excluding certain charges (credits), of $3.43 to $3.49.
The company estimates net sales growth for the first quarter of 2026, versus the prior year period, to be approximately 10.5 to 12.0 percent on a reported basis and 8.5 to 10.0 percent on an organic basis. First quarter organic net sales guidance excludes the impact of foreign currency fluctuations and net sales attributable to certain acquisitions and divestitures for which there are less than a full period of comparable net sales. The company estimates adjusted EPS, excluding certain charges (credits), of $0.78 to $0.80.
The company has not provided reconciliations of the forward-looking adjusted EPS guidance to GAAP guidance as it is unable to predict with reasonable certainty and without unreasonable efforts the impact of certain items such as intangible asset impairment charges, acquisition-related charges, restructuring and restructuring-related charges and litigation-related charges. The combined impact of these items is uncertain, dependent on various factors and cannot be predicted with reasonable certainty, and could be material to our GAAP measures of financial results.
Conference Call Information
Boston Scientific management will be discussing these results with analysts on a conference call today at 8:00 a.m. ET. The company will webcast the call to interested parties through its website: investors.bostonscientific.com. Please see the website for details on how to access the webcast. The webcast will be available for approximately one year on the Boston Scientific website.
(Press release, Boston Scientific, FEB 4, 2026, View Source [SID1234662487])