
	Three Months Ended				Nine Months Ended
	October 3, 2025		September 27, 2024		October 3, 2025		September 27, 2024
	(In thousands)
Prevention & Recovery:
Net sales	$	290,939	$	274,244	$	854,093	$	811,011
Segment cost of sales	135,099		130,801		395,199		389,709
Segment research and development	9,641		9,088		28,551		27,111
Segment operating expense	108,937		96,148		324,304		295,975
Total segment expenses	253,677		236,037		748,054		712,795
Add: Depreciation	5,038		4,569		13,895		13,624
Adjusted EBITDA (non-GAAP)	$	42,300	$	42,776	$	119,934	$	111,840

Reconstructive:
Net sales	$	257,973	$	230,978	$	818,198	$	735,637
Segment cost of sales	82,855		77,224		259,760		243,619
Segment research and development	20,098		11,403		60,416		40,236
Segment operating expense	128,263		118,167		401,871		372,087
Total segment expenses	231,216		206,794		722,047		655,942
Add: Depreciation	25,711		23,243		75,007		72,116
Adjusted EBITDA (non-GAAP)	$	52,468	$	47,427	$	171,158	$	151,811

Total:
Net Sales	$	548,912	$	505,222	$	1,672,291	$	1,546,648
Adjusted EBITDA (non-GAAP)	$	94,768	$	90,203	$	291,092	$	263,651

The following is a reconciliation of Net Loss to Adjusted EBITDA:


	Three Months Ended				Nine Months Ended
	October 3, 2025		September 27, 2024		October 3, 2025		September 27, 2024
	(In thousands)
Net Loss (GAAP)	$	(570,913)	$	(31,262)	$	(663,166)	$	(121,615)
Loss (income) from discontinued operations, net of taxes	40		(2,243)		258		(2,175)
Income tax expense (benefit)	4,005		(9,096)		13,037		(25,408)

Restructuring charges (1)	3,376		7,786		8,204		25,284
MDR and other costs (2)	2,426		5,297		8,985		14,757
Strategic transaction costs (3)	15,675		21,428		41,180		64,958
Stock-based compensation	8,957		7,827		25,032		21,868
Depreciation and other amortization	30,691		28,440		88,902		85,740
Amortization of acquired intangibles	43,689		42,786		128,463		124,653
Goodwill impairment charge	548,442		—		548,442		—
Purchase of royalty interest	—		—		45,818		—
Inventory step-up	—		8,376		18,119		37,361
Interest expense, net	8,828		11,066		27,310		48,031
Other (income) expense, net (4)	(448)		(202)		508		(9,803)




Adjusted EBITDA (non-GAAP)	$	94,768	$	90,203	$	291,092	$	263,651

(1) Restructuring charges include $1.5 million and $1.7 million expense classified as Cost of sales on the Company’s Condensed Consolidated Statements of Operations for the three and nine months ended October 3, 2025, respectively. Restructuring charges include $2.7 million expense classified as Cost of sales on the Company’s Condensed Consolidated Statements of Operations for the three and nine months ended September 27, 2024, respectively.

(2) MDR and other costs includes (i) $2.1 million and $7.6 million for the three and nine months ended October 3, 2025 and $3.5 million and $12.3 million for the three and nine months ended September 27, 2024, respectively, in non-recurring costs specific to updating our quality system, product labeling, asset write-offs and product remanufacturing to comply with the medical device reporting regulations and other requirements of the new medical device regulations in the European Union for devices which were introduced to the market prior to the regulation and (ii) $0.4 million and $1.4 million for the three and nine months ended October 3, 2025 and $1.8 million and $2.4 million for the three and nine months ended September 27, 2024, respectively, of expenses to resolve certain infrequent, non-recurring regulatory or other legal matters. These costs are classified as Selling, general and administrative expense on our Condensed Consolidated Statements of Operations.

(3) Strategic transaction costs includes: (i) $9.2 million and $28.1 million for the three and nine months ended October 3, 2025 and $17.5 million and $55.1 million for the three and nine months ended September 27, 2024, respectively, related to non-recurring integration costs associated with the Lima Acquisition, which includes payroll and retention costs for roles to be eliminated or that are dedicated to integration activities, professional and consulting fees specifically incurred to consummate the acquisition and advise and facilitate on post-acquisition integration matters including legal entity consolidation, costs associated with rebranding and marketing acquired business under Enovis name, such as marketing materials, trade show redesign costs and product labeling, and integration related costs associated with sales agent and distributor network rationalization, including contract termination and retention expenses, supply chain and portfolio integration, and quality management system consolidation, (ii) $6.1 million and $11.8 million for the three and nine months ended October 3, 2025 and $2.6 million and $5.7 million for the three and nine months ended September 27, 2024, respectively, of non-recurring (non-Lima) acquisition integration costs and other non-recurring project costs for global ERP rationalization and shared service center start-up, and (iii) $0.4 million and $1.3 million for the three and nine months ended October 3, 2025 and $1.3 million and $4.2 million for the three and nine months ended September 27, 2024, respectively, related to the Separation of our former fabrication technology business. These costs are classified as Selling, general and administrative expense on our Condensed Consolidated Statements of Operations.