Medtronic reports strong finish to its fiscal year with its fourth quarter financial results; announces dividend increase

Medtronic reports strong finish to its fiscal year with its fourth quarter financial results; announces dividend increase

Building momentum in key franchises including Pulsed Field Ablation, TAVR, Cardiac Rhythm Management, Diabetes, Spine, and Neuromodulation

Medtronic plc (NYSE: MDT), a global leader in healthcare technology, today announced financial results for its fourth quarter (Q4) and fiscal year 2025 (FY25), which ended April 25, 2025 .

Medtronic FY25 Q4 Earnings

Q4 Key Highlights

  • Q4 revenue of $8.9 billion increased 3.9% as reported and 5.4% organic

  • Q4 GAAP diluted EPS of $0.82 increased 67%; non-GAAP diluted EPS of $1.62 increased 11%

  • Q4 operating margin increased 380 basis points; Q4 non-GAAP operating margin increased 90 basis points

  • Q4 operating profit of $1.4 billion increased 36%; Q4 non-GAAP operating profit of $2.5 billion increased 8%

  • Cardiac Ablation Solutions Q4 revenue increased nearly 30% on strength of pulsed field ablation (PFA) products; business delivered $1.0 billion in FY25 revenue

  • Submitted Hugoâ„¢ RAS system to the U.S. Food and Drug Administration (FDA) for a urologic indication in the first quarter of calendar 2025

  • Commenced largest brain-computer interface launch following U.S. FDA approval of BrainSenseâ„¢ Adaptive Deep Brain Stimulation (aDBS)

Additional Key Highlights

  • FY25 revenue of $33.5 billion , adjusted revenue of $33.6 billion , increased 3.6% as reported and 4.9% organic

  • FY25 GAAP diluted EPS of $3.61 increased 31%; non-GAAP diluted EPS of $5.49 increased 6%

  • FY25 operating margin increased 190 basis points; FY25 non-GAAP operating margin increased 10 basis points, 100 basis points constant currency

  • FY25 operating profit of $6.0 billion increased 16%; FY25 non-GAAP operating profit of $8.7 billion increased 5%, 9% constant currency

  • FY25 cash from operations of $7.0 billion ; FY25 free cash flow of $5.2 billion

  • Company returned $6.3 billion to shareholders in FY25

  • Dividend for Q1 FY26 increased to $0.71 per share, implying annual $2.84 per share; 48th consecutive year of dividend increases

  • Announced today intent to separate Diabetes business into new standalone public company

Q4 Financial Results
Medtronic reported Q4 worldwide revenue of $8.927 billion , an increase of 3.9% as reported and 5.4% on an organic basis. The Q4 organic revenue growth comparison excludes:

  • Other revenue of $31 million in the current year and $57 million in the prior year; and

  • Foreign currency translation of - $95 million on the remaining segments.

Q4 GAAP operating profit and operating margin were $1.436 billion and 16.1%, respectively, increases of 36% and 380 basis points, respectively. As detailed in the financial schedules included at the end of the release, Q4 non-GAAP operating profit and operating margin were $2.486 billion and 27.8%, respectively, increases of 8% and 90 basis points, respectively.

Q4 GAAP net income and diluted earnings per share (EPS) were $1.057 billion and $0.82 , respectively, increases of 62% and 67%, respectively. As detailed in the financial schedules included at the end of this release, Q4 non-GAAP net income and non-GAAP diluted EPS were $2.080 billion and $1.62 , respectively, increases of 8% and 11%, respectively. Included in Q4 non-GAAP diluted EPS was a -7 cent impact from foreign currency translation. Q4 non-GAAP diluted EPS on a constant currency basis increased 16%.

FY25 Financial Results
Medtronic reported FY25 worldwide revenue of $33.537 billion and adjusted revenue of $33.627 billion , an increase of 3.6% as reported and 4.9% on an organic basis. The FY25 organic revenue growth comparison excludes:

  • Other revenue of $48 million in the current year and $221 million in the prior year; and

  • Foreign currency translation of - $244 million on the remaining segments.

FY25 GAAP operating profit and operating margin were $5.955 billion and 17.8%, respectively, increases of 16% and 190 basis points respectively. As detailed in the financial schedules included at the end of the release, FY25 non-GAAP operating profit and operating margin were $8.648 billion and 25.7%, respectively, increases of 5% and 10 basis points, respectively. On a constant currency basis, FY25 non-GAAP operating profit and operating margin increased 9% and 100 basis points, respectively.

FY25 GAAP net income and diluted earnings per share (EPS) were $4.662 billion and $3.61 , respectively, representing increases of 27% and 31%, respectively. As detailed in the financial schedules included at the end of this release, fiscal year 2025 non-GAAP net income and non-GAAP diluted EPS were $7.079 billion and $5.49 , respectively, representing increases of 2% and 6%, respectively. Included in FY25 non-GAAP diluted EPS was a -22 cent impact from foreign currency translation. FY25 non-GAAP diluted EPS on a constant currency basis increased 10%.

FY25 cash from operations of $7.044 billion increased 4%. FY25 free cash flow of $5.185 billion was unchanged, representing free cash flow conversion from non-GAAP net earnings of 73%.

"We had a strong close to our fiscal year, and I'm excited to see the progress we are making as our growth drivers continue to build momentum. Operationally, we translated our accelerating revenue growth into earnings leverage, as we delivered at the upper end of the commitments that we laid out a year ago," said Geoff Martha , Medtronic chairman and chief executive officer. "The underlying fundamentals of our business are strong, and they are getting stronger. We are now at an inflection point as we accelerate our speed of travel to higher, more profitable growth."

Cardiovascular Portfolio
The Cardiovascular Portfolio includes the Cardiac Rhythm & Heart Failure (CRHF), Structural Heart & Aortic (SHA), and Coronary & Peripheral Vascular (CPV) divisions. FY25 revenue of $12.481 billion increased 5.5% as reported and 6.3% organic, with high-single digit organic increases in CRHF and SH&A, and a low-single digit organic increase in CPV. Q4 revenue of $3.336 billion increased 6.6% as reported and 7.8% organic, with a low-double digit increase in CRHF, high-single digit increase in SH&A, and low-single digit increase in CPV, all on an organic basis.

  • CRHF Q4 results included near-30s growth in Cardiac Ablation Solutions (CAS) on rapid adoption of the PulseSelectâ„¢ and Afferaâ„¢ mapping and ablation system with Sphere-9â„¢ PFA catheter; Cardiac Rhythm Management grew high-single digits, driven by high-single digit growth in both Defibrillation Solutions and Cardiac Pacing Therapies, including high-teens growth in both Micraâ„¢ transcatheter pacing systems and SelectSecureâ„¢ 3830 leads for conduction system pacing

  • SHA Q4 results driven by low-double digit Structural Heart growth, on the continued strength of the Evolutâ„¢ FX+ TAVR system, and low-double digit growth in Cardiac Surgery

  • CPV Q4 growth driven by low-double digit growth in guide catheters and high-single digit growth in balloons

  • SMART 2-year data demonstrating superior valve performance for Evolut TAVRâ„¢ system in small annulus patients published in Journal of the American College of Cardiology ; positive 5-year outcomes from the Evolut Low Risk Trial presented as a Late Breaking Clinical Trial at ACC.25 in March

  • Received U.S. FDA approval for the OmniaSecureâ„¢ lead, the smallest-diameter, lumenless defibrillation lead. OmniaSecureâ„¢ is based on the 3830 pacing lead, which has provided safe and reliable treatment to patients for more than 20 years.

  • Published positive clinical outcomes from two studies in atrial fibrillation patients treated with the Afferaâ„¢ family of technologies, including the next-generation Sphere-360â„¢ single-shot PFA catheter and the Sphere-9â„¢ combination mapping and dual-energy (RF/PF) focal catheter

Neuroscience Portfolio
The Neuroscience Portfolio includes the Cranial & Spinal Technologies (CST), Specialty Therapies, and Neuromodulation divisions. FY25 revenue of $9.846 billion increased 4.7% reported and 5.2% organic, with a low-double digit increase in Neuromodulation, mid-single digit increase in CST, and low-single digit increase in Specialty Therapies, all on an organic basis. Q4 revenue of $2.620 billion increased 2.9% as reported and 3.7% organic, with a low-double digit increase in Neuromodulation, mid-single digit increase in CST, and low-single digit decrease in Specialty Therapies, all on an organic basis.

  • CST Q4 results driven by high-single digit U.S. growth on strong capital sales and implant pull through related to the company's AiBLEâ„¢ spine surgery ecosystem

  • Specialty Therapies Q4 results included low-single digit growth in ENT with strength in Navigation capital and Head & Neck disposable sales; Pelvic Health results were flat; Neurovascular decreased mid-single digits on volume-based procurement in China and the recall of the Pipelineâ„¢ Vantage flow diverter; Medtronic continues to offer the gold standard in flow diversion products with Pipelineâ„¢ Shield, which continues to be available globally

  • Neuromodulation above market Q4 performance driven by low-double digit Pain Stim growth, including mid-teens U.S. growth, on the continued launch of the Inceptivâ„¢ spinal cord stimulator; Brain Modulation grew mid-single digit globally on the continued launch of the Perceptâ„¢ RC deep brain stimulator (DBS) with BrainSenseâ„¢ technology

  • Received U.S. FDA approval and began launch of BrainSenseâ„¢ Adaptive Deep Brain Stimulation (aDBS), the largest ever commercial launch of brain-computer interface technology

Medical Surgical Portfolio
The Medical Surgical Portfolio includes the Surgical & Endoscopy (SE) and the Acute Care & Monitoring (ACM) divisions. FY25 revenue of $8.407 decreased 0.1% reported and increased 0.8% organic, with low-single digit organic growth in both SE and ACM. Q4 revenue of $2.212 billion grew 0.6% as reported and 2.0% organic, with low-single digit organic growth in both SE and ACM.

  • SE Q4 results were driven by mid-single digit growth in both Advanced Energy, driven by continued adoption of LigaSureâ„¢ vessel sealing technology, and Emerging Markets, partially offset by ongoing bariatric market and competitive robotic pressures in Advanced Stapling

  • ACM Q4 performance improved and included mid-teens growth in Respiratory Compromise and high-single digit growth in Perioperative Complications

  • Results from Expand URO Investigational Device Exemption (IDE) clinical study of the Hugoâ„¢ robotic-assisted surgery (RAS) system presented at American Urologic Association (AUA) last month; submitted Hugoâ„¢ RAS system to the U.S. FDA for urologic indication in the first quarter of calendar 2025

Diabetes
Diabetes FY25 revenue of $2.755 billion increased 10.7% as reported and 11.5% organic. Q4 revenue of $728 million increased 10.4% as reported and 12.0% organic, the sixth consecutive quarter of double-digit organic growth.

  • U.S. Q4 revenue grew high-single digits on the continued adoption of the MiniMedâ„¢ 780G automated insulin delivery (AID) system with an increase in the MiniMedâ„¢ 780G installed base and strong CGM attachment rates

  • International Q4 revenue grew mid-teens driven by low-20s growth in pumps and increasing CGM attachment as users upgrade to the Simplera Syncâ„¢ sensor

  • Secured U.S. FDA approval for Simplera Syncâ„¢ CGM for use with the MiniMedâ„¢ 780G system

  • Submitted 510(k) applications to the FDA for an interoperable pump and algorithm, paving the way for system integration with an exclusive CGM based on Abbott's most advanced CGM platform

Medtronic to Separate Diabetes Business
As part of its ongoing portfolio management strategy, Medtronic today announced its intent to separate its Diabetes business into a new standalone public company. The separation is expected to be completed within 18 months through a series of capital markets transactions, with a preferred path of an initial public offering (IPO) and subsequent split-off. Additional details are available in a separate press release and presentation. The press release is available at news.medtronic.com and a PDF of the presentation can be viewed by clicking here .

Cardiovascular Leadership Transition
Sean Salmon , executive vice president and president, Cardiovascular Portfolio, will be leaving Medtronic. Skip Kiil , senior vice president and president of the Medtronic Cranial and Spinal Technologies (CST) business, has been promoted to executive vice president and president Cardiovascular Portfolio, effective immediately. Skip will report to Geoff Martha and will become a member of the Medtronic Executive Committee. Michael Carter , vice president and general manager, Spine, will succeed Kiil as senior vice president and president, CST.

"We are grateful to Sean for his more than 20 years of dedication to serving our Medtronic Mission – and for leading our Cardiovascular portfolio in developing some of the most exciting new technologies that are making an impact in the market today and accelerating our Cardiovascular growth," said Martha. "Skip's appointment comes at an exciting time for our Cardiovascular businesses. His global mindset, and proven track record of commercialization and market development will support our strong Cardiovascular team in further advancing the impact and momentum of these exciting therapies. Skip will be a great addition to both the Medtronic Executive Committee and our Cardiovascular leadership team."

Dividend Increase
The company today announced that effective May 20, 2025 , the Medtronic board of directors approved an increase in Medtronic's cash dividend for the first quarter of fiscal year 2026, raising the quarterly amount to $0.71 per ordinary share. This would translate into an annual amount of $2.84 per ordinary share. Today's announcement marks the 48th consecutive year of an increase in the dividend payment. The dividend is payable on July 11, 2025 , to shareholders of record at the close of business on June 27, 2025 .

Guidance
The company today issued its fiscal year 2026 (FY26) revenue growth and EPS guidance.

The company is guiding to FY26 organic revenue growth of approximately 5%. The organic revenue growth guidance excludes the impact of foreign currency exchange and revenue reported as Other. Including Other revenue and the impact of foreign currency exchange, if recent foreign currency exchange rates hold, FY26 revenue growth on a reported basis would be in the range of 4.8% to 5.1%.

Excluding the potential impacts from increased tariffs, Medtronic expects FY26 diluted non-GAAP EPS growth to be approximately 4%. This includes an expectation for non-GAAP operating profit to grow faster than organic revenue, partially offset by increased interest and tax expense. Including a potential impact from tariffs as detailed in the company's earnings presentation, Medtronic is guiding FY26 diluted non-GAAP EPS in the range of $5.50 to $5.60 . The lower end of the EPS range assumes that the bilateral US/ China tariffs resume at the higher rates following the 90 day pause, while the higher end of the EPS range assumes that the bilateral US/ China tariffs currently in effect during the pause remain in place through fiscal year 2026.

"Our fiscal 2026 guidance reflects increasing revenue growth contribution from our key growth drivers, and increased investment to support their growth, leading to leveraged operating profit growth pre-tariffs. In addition, the team has rallied to identify opportunities to offset a large portion of tariffs, and we have high confidence in our ability to execute additional mitigation efforts," said Thierry Piéton, Medtronic chief financial officer, who joined the company on March 3, 2025 . "This is an exciting time to join Medtronic. I am energized by the opportunities for durable growth and value creation ahead of us."

Video Webcast Information
Medtronic will host a video webcast today, May 21 , at 8:00 a.m. EDT ( 7:00 a.m. CDT ) to provide information about its business for the public, investors, analysts, and news media. This webcast can be accessed by clicking on the Quarterly Earnings icon at investorrelations.medtronic.com , and this earnings release will be archived at news.medtronic.com . Within 24 hours of the webcast, a replay of the webcast and transcript of the company's prepared remarks will be available by clicking on the Past Events and Presentations link under the News & Events drop-down at investorrelations.medtronic.com .

Medtronic plans to report its FY26 first, second, third, and fourth quarter results on Tuesday, August 19, 2025 , November 18, 2025 , February 17, 2026 , and Wednesday, May 20, 2026 , respectively. Confirmation and additional details will be provided closer to the specific event.

Financial Schedules and Earnings Presentation
The fourth quarter and full year financial schedules and non-GAAP reconciliations can be viewed by clicking on the Quarterly Earnings link at investorrelations.medtronic.com . To view a printable PDF of the financial schedules and non-GAAP reconciliations, click here . To view the fourth quarter earnings presentation, click here .

About Medtronic
Bold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered in Galway, Ireland , is the leading global healthcare technology company that boldly attacks the most challenging health problems facing humanity by searching out and finding solutions. Our Mission — to alleviate pain, restore health, and extend life — unites a global team of 95,000+ passionate people across more than 150 countries. Our technologies and therapies treat 70 health conditions and include cardiac devices, surgical robotics, insulin pumps, surgical tools, patient monitoring systems, and more. Powered by our diverse knowledge, insatiable curiosity, and desire to help all those who need it, we deliver innovative technologies that transform the lives of two people every second, every hour, every day. Expect more from us as we empower insight-driven care, experiences that put people first, and better outcomes for our world. In everything we do, we are engineering the extraordinary. For more information on Medtronic (NYSE: MDT), visit www.Medtronic.com and follow on LinkedIn .

FORWARD LOOKING STATEMENTS
  This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties, including risks related to competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of medical products, government regulation, geopolitical conflicts, changing global trade policies, material acquisition and divestiture transactions, general economic conditions, and other risks and uncertainties described in the company's periodic reports on file with the U.S. Securities and Exchange Commission including the most recent Annual Report on Form 10-K of the company. In some cases, you can identify these statements by forward-looking words or expressions, such as "anticipate," "believe," "could," "estimate," "expect," "forecast," "intend," "looking ahead," "may," "plan," "possible," "potential," "project," "should," "going to," "will," and similar words or expressions, the negative or plural of such words or expressions and other comparable terminology. Actual results may differ materially from anticipated results. Medtronic does not undertake to update its forward-looking statements or any of the information contained in this press release, including to reflect future events or circumstances.

NON-GAAP FINANCIAL MEASURES
  This press release contains financial measures, including adjusted net income, adjusted diluted EPS, and organic revenue, which are considered "non-GAAP" financial measures under applicable SEC rules and regulations. References to quarterly or annual figures increasing, decreasing or remaining flat are in comparison to fiscal year 2024, and references to sequential changes are in comparison to the prior fiscal quarter. Unless stated otherwise, quarterly and annual rates and ranges are given on an organic basis.

Medtronic management believes that non-GAAP financial measures provide information useful to investors in understanding the company's underlying operational performance and trends and to facilitate comparisons with the performance of other companies in the med tech industry. Non-GAAP net income and diluted EPS exclude the effect of certain charges or gains that contribute to or reduce earnings but that result from transactions or events that management believes may or may not recur with similar materiality or impact to operations in future periods (Non-GAAP Adjustments). Medtronic generally uses non-GAAP financial measures to facilitate management's review of the operational performance of the company and as a basis for strategic planning. Non-GAAP financial measures should be considered supplemental to and not a substitute for financial information prepared in accordance with U.S. generally accepted accounting principles (GAAP), and investors are cautioned that Medtronic may calculate non-GAAP financial measures in a way that is different from other companies. Management strongly encourages investors to review the company's consolidated financial statements and publicly filed reports in their entirety. Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the financial schedules accompanying this press release.

Medtronic calculates forward-looking non-GAAP financial measures based on internal forecasts that omit certain amounts that would be included in GAAP financial measures. For instance, forward-looking organic revenue growth guidance excludes the impact of foreign currency fluctuations, as well as significant acquisitions or divestitures. Forward-looking diluted non-GAAP EPS guidance also excludes other potential charges or gains that would be recorded as Non-GAAP Adjustments to earnings during the fiscal year. Medtronic does not attempt to provide reconciliations of forward-looking non-GAAP EPS guidance to projected GAAP EPS guidance because the combined impact and timing of recognition of these potential charges or gains is inherently uncertain and difficult to predict and is unavailable without unreasonable efforts. In addition, the company believes such reconciliations would imply a degree of precision and certainty that could be confusing to investors. Such items could have a substantial impact on GAAP measures of financial performance.

Contacts:
Erika Winkels
Public Relations
+1-763-526-8478

Ryan Weispfenning
Investor Relations
+1-763-505-4626

Medtronic plc

WORLDWIDE   REVENUE (1)

(Unaudited)



FOURTH QUARTER



FISCAL YEAR


REPORTED




ORGANIC



REPORTED




ORGANIC

(in millions)

FY25


FY24


Growth


Currency
Impact (3)


FY25 (4)


FY24 (4)


Growth



FY25


FY24


Growth


Currency
Impact (3)


FY25 (5)


FY24 (5)


Growth

Cardiovascular

$    3,336


$    3,130


6.6 %


$       (37)


$    3,373


$    3,130


7.8 %



$   12,481


$   11,831


5.5 %


$       (99)


$   12,580


$   11,831


6.3 %

Cardiac Rhythm & Heart Failure

1,733


1,587


9.2


(18)


1,751


1,587


10.3



6,392


5,995


6.6


(43)


6,435


5,995


7.3

Structural Heart & Aortic

944


883


7.0


(11)


955


883


8.3



3,554


3,358


5.8


(32)


3,587


3,358


6.8

Coronary & Peripheral Vascular

659


660


(0.1)


(8)


667


660


1.0



2,535


2,478


2.3


(23)


2,558


2,478


3.2

Neuroscience

2,620


2,545


2.9


(18)


2,638


2,545


3.7



9,846


9,406


4.7


(47)


9,893


9,406


5.2

Cranial & Spinal Technologies

1,342


1,291


3.9


(7)


1,348


1,291


4.4



4,973


4,756


4.6


(21)


4,995


4,756


5.0

Specialty Therapies

759


778


(2.5)


(7)


766


778


(1.6)



2,940


2,905


1.2


(17)


2,957


2,905


1.8

Neuromodulation

520


475


9.3


(4)


524


475


10.2



1,932


1,746


10.7


(9)


1,941


1,746


11.2

Medical Surgical

2,212


2,198


0.6


(30)


2,241


2,198


2.0



8,407


8,417


(0.1)


(80)


8,487


8,417


0.8

Surgical & Endoscopy

1,709


1,705


0.2


(25)


1,734


1,705


1.7



6,498


6,508


(0.2)


(65)


6,563


6,508


0.8

Acute Care & Monitoring

503


492


2.1


(5)


508


492


3.1



1,909


1,908


—


(15)


1,924


1,908


0.8

Diabetes

728


660


10.4


(11)


739


660


12.0



2,755


2,488


10.7


(18)


2,774


2,488


11.5

Total Reportable Segments

8,896


8,532


4.3


(95)


8,991


8,532


5.4



33,489


32,142


4.2


(244)


33,733


32,142


4.9

Other (2)

31


57


(45.7)


(1)


—


—


—



48


221


(78.5)


(3)


—


—


—

TOTAL

$    8,927


$    8,589


3.9 %


$       (96)


$    8,991


$    8,532


5.4 %



$   33,537


$   32,364


3.6 %


$     (247)


$   33,733


$   32,142


4.9 %



(1)

The data in this schedule has been intentionally rounded to the nearest million and, therefore, may not sum. Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

(2)

Includes operations and ongoing transition agreements from businesses the Company has exited or divested, and specifically for the three months ended July 26, 2024, impacting fiscal year 2025 figures, $90 million of incremental Italian payback accruals resulting from the two July 22, 2024 rulings by the Constitutional Court of Italy relating to certain prior years since 2015.

(3)

The currency impact to revenue measures the change in revenue between current and prior year periods using constant exchange rates.

(4)

The three months ended April 25, 2025 excludes $64 million of revenue adjustments related to $31 million of inorganic revenue for the transition activity noted in (2) and $95 million of unfavorable currency impact on the remaining segments. The three months ended April 26, 2024 excludes $57 million of inorganic revenue related to the transition activity noted in (2).

(5)

The twelve months ended April 25, 2025 excludes $196 million of revenue adjustments related to $90 million of incremental Italian payback accruals further described in note (2), $137 million of inorganic revenue related to the transition activity noted in (2), and $244 million of unfavorable currency impact on the remaining segments. The twelve months ended April 26, 2024 excludes $221 million of inorganic revenue related to the transition activity noted in (2).

Medtronic plc

U.S. REVENUE (1)(2)

(Unaudited)



FOURTH QUARTER

FISCAL YEAR


REPORTED


ORGANIC



REPORTED


ORGANIC

(in millions)

FY25


FY24


Growth


FY25


FY24


Growth



FY25


FY24


Growth


FY25


FY24


Growth

Cardiovascular

$    1,563


$    1,448


8.0 %


$    1,563


$    1,448


8.0 %



$    5,804


$    5,597


3.7 %


$    5,804


$    5,597


3.7 %

Cardiac Rhythm & Heart Failure

875


791


10.7


875


791


10.7



3,184


3,037


4.8


3,184


3,037


4.8

Structural Heart & Aortic

404


366


10.2


404


366


10.2



1,532


1,453


5.5


1,532


1,453


5.5

Coronary & Peripheral Vascular

284


291


(2.3)


284


291


(2.3)



1,088


1,107


(1.7)


1,088


1,107


(1.7)

Neuroscience

1,782


1,692


5.3


1,782


1,692


5.3



6,713


6,305


6.5


6,713


6,305


6.5

Cranial & Spinal Technologies

999


936


6.7


999


936


6.7



3,723


3,495


6.5


3,723


3,495


6.5

Specialty Therapies

431


439


(1.8)


431


439


(1.8)



1,666


1,641


1.5


1,666


1,641


1.5

Neuromodulation

352


317


11.1


352


317


11.1



1,324


1,169


13.3


1,324


1,169


13.3

Medical Surgical

946


954


(0.9)


946


954


(0.9)



3,664


3,717


(1.4)


3,664


3,717


(1.4)

Surgical & Endoscopy

668


679


(1.7)


668


679


(1.7)



2,595


2,650


(2.1)


2,595


2,650


(2.1)

Acute Care & Monitoring

278


275


1.1


278


275


1.1



1,068


1,067


0.2


1,068


1,067


0.2

Diabetes

240


223


7.2


240


223


7.2



923


852


8.3


923


852


8.3

Total Reportable Segments

4,530


4,317


4.9


4,530


4,317


4.9



17,104


16,471


3.8


17,104


16,471


3.8

Other (3)

17


26


(35.1)


—


—


—



68


91


(25.2)


—


—


—

TOTAL

$    4,547


$    4,343


4.7 %


$    4,530


$    4,317


4.9 %



$   17,171


$   16,562


3.7 %


$   17,104


$   16,471


3.8 %



(1)

U.S. includes the United States and U.S. territories.

(2)

The data in this schedule has been intentionally rounded to the nearest million and, therefore, may not sum. Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

(3)

Includes operations and ongoing transition agreements from businesses the Company has exited or divested.

Medtronic plc

INTERNATIONAL REVENUE (1)

(Unaudited)



FOURTH QUARTER



FISCAL YEAR


REPORTED




ORGANIC



REPORTED




ORGANIC

(in millions)

FY25


FY24


Growth


Currency
Impact (3)


FY25 (4)


FY24 (4)


Growth



FY25


FY24


Growth


Currency
Impact (3)


FY25 (5)


FY24 (5)


Growth

Cardiovascular

$     1,773


$     1,682


5.4 %


$        (37)


$     1,810


$     1,682


7.6 %



$     6,677


$     6,234


7.1 %


$        (99)


$     6,775


$     6,234


8.7 %

Cardiac Rhythm & Heart Failure

858


797


7.7


(18)


876


797


9.9



3,208


2,958


8.4


(43)


3,251


2,958


9.9

Structural Heart & Aortic

541


516


4.7


(11)


552


516


6.9



2,022


1,905


6.1


(32)


2,054


1,905


7.8

Coronary & Peripheral Vascular

375


369


1.6


(8)


382


369


3.7



1,447


1,371


5.5


(23)


1,470


1,371


7.2

Neuroscience

838


853


(1.8)


(18)


856


853


0.3



3,133


3,101


1.0


(47)


3,180


3,101


2.6

Cranial & Spinal Technologies

343


356


(3.5)


(7)


350


356


(1.6)



1,250


1,260


(0.8)


(21)


1,272


1,260


0.9

Specialty Therapies

328


339


(3.5)


(7)


335


339


(1.4)



1,274


1,264


0.9


(17)


1,291


1,264


2.2

Neuromodulation

167


158


5.6


(4)


171


158


8.2



608


577


5.4


(9)


617


577


7.0

Medical Surgical

1,266


1,244


1.8


(30)


1,295


1,244


4.2



4,744


4,700


0.9


(80)


4,823


4,700


2.6

Surgical & Endoscopy

1,041


1,026


1.4


(25)


1,066


1,026


3.9



3,903


3,858


1.2


(65)


3,967


3,858


2.8

Acute Care & Monitoring

225


217


3.3


(5)


230


217


5.5



841


842


(0.1)


(15)


856


842


1.7

Diabetes

489


436


12.1


(11)


499


436


14.5



1,832


1,636


12.0


(18)


1,851


1,636


13.1

Total Reportable Segments

4,365


4,215


3.6


(95)


4,461


4,215


5.8



16,386


15,671


4.6


(244)


16,630


15,671


6.1

Other (2)

14


31


(54.3)


(1)


—


—


—



(20)


131


(115.4)


(3)


—


—


—

TOTAL

$     4,380


$     4,246


3.1 %


$        (96)


$     4,461


$     4,215


5.8 %



$   16,365


$   15,802


3.6 %


$      (247)


$   16,630


$   15,671


6.1 %



(1)

The data in this schedule has been intentionally rounded to the nearest million and, therefore, may not sum. Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

(2)

Includes operations and ongoing transition agreements from businesses the Company has exited or divested, and specifically for the three months ended July 26, 2024, impacting fiscal year 2025 figures, $90 million of incremental Italian payback accruals resulting from the two July 22, 2024 rulings by the Constitutional Court of Italy relating to certain prior years since 2015.

(3)

The currency impact to revenue measures the change in revenue between current and prior year periods using constant exchange rates.

(4)

The three months ended April 25, 2025 excludes $81 million of revenue adjustments related to $14 million of inorganic revenue for the transition activity noted in (2), and $95 million of unfavorable currency impact on the remaining segments. The three months ended April 26, 2024 excludes $31 million of inorganic revenue related to the transition activity noted in (2).

(5)

The twelve months ended April 25, 2025 excludes $264 million of revenue adjustments related to $90 million of incremental Italian payback accruals further described in note (2), $70 million of inorganic revenue related to the transition activity noted in (2), and $244 million of unfavorable currency impact on the remaining segments. The twelve months ended April 26, 2024 excludes $131 million of inorganic revenue related to the transition activity noted in (2).

Medtronic plc

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)



Three months ended


Fiscal year ended

(in millions, except per share data)

April 25, 2025


April 26, 2024


April 25, 2025


April 26, 2024

Net sales

$               8,927


$               8,589


$             33,537


$             32,364

Costs and expenses:








Cost of products sold, excluding amortization of intangible assets

3,147


3,044


11,632


11,216

Research and development expense

684


675


2,732


2,735

Selling, general, and administrative expense

2,721


2,765


10,849


10,736

Amortization of intangible assets

564


419


1,807


1,693

Restructuring charges, net

147


112


267


226

Certain litigation charges, net

214


44


317


149

Other operating expense (income), net

15


477


(23)


464

Operating profit

1,436


1,053


5,955


5,144

Other non-operating expense (income), net

1


(4)


(402)


(412)

Interest expense, net

174


202


729


719

Income before income taxes

1,261


856


5,628


4,837

Income tax provision

199


196


936


1,133

Net income

1,061


659


4,691


3,705

Net income attributable to noncontrolling interests

(5)


(5)


(29)


(28)

Net income attributable to Medtronic

$               1,057


$                  654


$               4,662


$               3,676

Basic earnings per share

$                 0.82


$                 0.49


$                 3.63


$                 2.77

Diluted earnings per share

$                 0.82


$                 0.49


$                 3.61


$                 2.76

Basic weighted average shares outstanding

1,282.3


1,322.3


1,285.6


1,327.7

Diluted weighted average shares outstanding

1,287.7


1,325.4


1,289.9


1,330.2


The data in the schedule above has been intentionally rounded to the nearest million, and therefore, the quarterly amounts may not sum to the fiscal year-to-date amounts.

Medtronic plc

GAAP TO NON-GAAP RECONCILIATIONS (1)

(Unaudited)



Three months ended April 25, 2025

(in millions, except per share data)

Net
Sales


Cost of
Products
Sold


Gross
Margin
Percent


Operating
Profit


Operating
Profit
Percent


Income
Before
Income
Taxes


Net Income
attributable
to
Medtronic


Diluted
EPS


Effective
Tax Rate

GAAP

$  8,927


$   3,147


64.7 %


$     1,436


16.1 %


$    1,261


$       1,057


$     0.82


15.8 %

Non-GAAP Adjustments:


















Amortization of intangible assets (2)

—


—


—


564


6.3


564


455


0.35


19.3

Restructuring and associated costs (3)

—


(2)


—


149


1.7


149


114


0.09


23.5

Acquisition and divestiture-related items (4)

—


(21)


0.2


109


1.2


109


97


0.08


11.0

Certain litigation charges, net

—


—


—


214


2.4


214


163


0.13


23.4

(Gain)/loss on minority investments (5)

—


—


—


—


—


172


170


0.13


0.6

Medical device regulations (6)

—


(10)


0.1


14


0.2


14


12


0.01


21.4

Certain tax adjustments, net

—


—


—


—


—


—


13


0.01


—

Non-GAAP

$  8,927


$   3,113


65.1 %


$     2,486


27.8 %


$    2,483


$       2,080


$     1.62


16.0 %

Currency impact

96


(25)


0.7


123


1.1






0.07



Currency Adjusted

$  9,023


$   3,088


65.8 %


$     2,609


28.9 %






$     1.69






















Three months ended April 26, 2024

(in millions, except per share data)

Net
Sales


Cost of
Products
Sold


Gross
Margin
Percent


Operating
Profit


Operating
Profit
Percent


Income
Before
Income
Taxes


Net Income
attributable
to
Medtronic


Diluted
EPS


Effective
Tax Rate

GAAP

$  8,589


$   3,044


64.6 %


$     1,053


12.3 %


$      856


$          654


$     0.49


22.9 %

Non-GAAP Adjustments:


















Amortization of intangible assets

—


—


—


419


4.9


419


357


0.27


15.0

Restructuring and associated costs (3)

—


(13)


0.2


152


1.8


152


125


0.09


17.8

Acquisition and divestiture-related items (7)

—


(76)


0.9


611


7.1


611


515


0.39


15.9

Certain litigation charges, net

—


—


—


44


0.5


44


37


0.03


15.9

(Gain)/loss on minority investments (5)

—


—


—


—


—


195


197


0.15


(1.0)

Medical device regulations (6)

—


(21)


0.2


31


0.4


31


27


0.02


12.9

Certain tax adjustments, net

—


—


—


—


—


—


17


0.01


—

Non-GAAP

$  8,589


$   2,934


65.8 %


$     2,311


26.9 %


$    2,309


$       1,929


$     1.46


16.2 %



See description of non-GAAP financial measures contained in the press release dated May 21, 2025.

(1)

The data in this schedule has been intentionally rounded to the nearest million or $0.01 for EPS figures, and, therefore, may not sum.

(2)

The Company recognized $151 million of accelerated amortization on certain intangible assets related to product line exits within the Cardiovascular Segment.

(3)

Associated costs primarily include salaries and wages for employees supporting the restructuring activities, consulting expenses, asset write-offs, and for the three months ended April 25, 2025, contract terminations.

(4)

The charges primarily include changes in fair value of contingent consideration and exit of business-related charges.

(5)

We exclude unrealized and realized gains and losses on our minority investments as we do not believe that these components of income or expense have a direct correlation to our ongoing or future business operations.

(6)

The charges represent incremental costs of complying with the new European Union medical device regulations for previously registered products and primarily include charges for contractors supporting the project and other direct third-party expenses. We consider these costs to be duplicative of previously incurred costs and/or one-time costs, which are limited to a specific period.

(7)

The charges predominantly include $439 million of charges related to the February 2024 decision to exit the Company's ventilator product line, which primarily includes long-lived intangible asset impairments and inventory write-downs. In addition, other charges primarily consist of changes in fair value of contingent consideration.

Medtronic plc

GAAP TO NON-GAAP RECONCILIATIONS (1)

(Unaudited)



Fiscal year ended April 25, 2025

(in millions, except per share data)

Net
Sales


Cost of
Products
Sold


Gross
Margin
Percent


Operating
Profit


Operating
Profit
Percent


Income
Before
Income
Taxes


Net Income
attributable
to Medtronic


Diluted
EPS


Effective
Tax Rate

GAAP

$  33,537


$  11,632


65.3 %


$     5,955


17.8 %


$    5,628


$         4,662


$     3.61


16.6 %

Non-GAAP Adjustments:


















Amortization of intangible assets (2)

—


—


—


1,807


5.3


1,807


1,471


1.14


18.5

Restructuring and associated costs (3)

—


(26)


0.1


303


0.9


303


238


0.18


21.5

Acquisition and divestiture-related items (4)

—


(38)


0.1


124


0.4


124


101


0.08


18.5

Certain litigation charges, net

—


—


—


317


0.9


317


249


0.19


21.5

(Gain)/loss on minority investments (5)

—


—


—


—


—


213


185


0.14


12.2

Medical device regulations (6)

—


(38)


0.1


52


0.2


52


42


0.03


19.2

Other (7)

90


—


0.2


90


0.3


90


70


0.05


22.2

Certain tax adjustments, net (8)

—


—


—


—


—


—


62


0.05


—

Non-GAAP

$  33,627


$  11,530


65.7 %


$     8,648


25.7 %


$    8,533


$         7,079


$     5.49


16.7 %

Currency impact

245


(98)


0.5


365


0.9






0.22



Currency Adjusted

$  33,872


$  11,432


66.2 %


$     9,013


26.6 %






$     5.71






















Fiscal year ended April 26, 2024

(in millions, except per share data)

Net
Sales


Cost of
Products
Sold


Gross
Margin
Percent


Operating
Profit


Operating
Profit
Percent


Income
Before
Income
Taxes


Net Income
attributable
to Medtronic


Diluted
EPS


Effective
Tax Rate

GAAP

$  32,364


$  11,216


65.3 %


$     5,144


15.9 %


$    4,837


$         3,676


$     2.76


23.4 %

Non-GAAP Adjustments:


















Amortization of intangible assets

—


—


—


1,693


5.2


1,693


1,435


1.08


15.2

Restructuring and associated costs (3)

—


(55)


0.2


389


1.2


389


323


0.24


17.0

Acquisition and divestiture-related items (9)

—


(100)


0.3


777


2.4


777


664


0.50


14.5

Certain litigation charges, net

—


—


—


149


0.5


149


118


0.09


20.8

(Gain)/loss on minority investments (5)

—


—


—


—


—


308


305


0.23


0.6

Medical device regulations (6)

—


(81)


0.3


119


0.4


119


97


0.07


18.5

Certain tax adjustments, net (10)

—


—


—


—


—


—


299


0.22


—

Non-GAAP

$  32,364


$  10,980


66.1 %


$     8,272


25.6 %


$    8,273


$         6,918


$     5.20


16.0 %



See description of non-GAAP financial measures contained in the press release dated May 21, 2025.

(1)

The data in this schedule has been intentionally rounded to the nearest million or $0.01 for EPS figures, and, therefore, may not sum.

(2)

The Company recognized $151 million of accelerated amortization on certain intangible assets related to product line exits within the Cardiovascular Segment.

(3)

Associated costs primarily include salaries and wages for employees supporting the restructuring activities, consulting expenses, asset write-offs, and for the fiscal year ended April 25, 2025, contract terminations.

(4)

The charges primarily include exit of business-related charges, changes in fair value of contingent consideration, business combination costs, and gains related to certain business or asset sales.

(5)

We exclude unrealized and realized gains and losses on our minority investments as we do not believe that these components of income or expense have a direct correlation to our ongoing or future business operations.

(6)

The charges represent incremental costs of complying with the new European Union medical device regulations for previously registered products and primarily include charges for contractors supporting the project and other direct third-party expenses. We consider these costs to be duplicative of previously incurred costs and/or one-time costs, which are limited to a specific time period.

(7)

Reflects the recognition of incremental Italian payback accruals resulting from the two July 22, 2024 rulings by the Constitutional Court of Italy relating to certain prior years since 2015.

(8)

Primarily relates to amortization of previously established deferred tax assets from intercompany intellectual property transactions.

(9)

The charges predominantly include $439 million of charges related to the February 2024 decision to exit the Company's ventilator product line, which primarily includes long-lived intangible asset impairments and inventory write-downs. In addition, other charges primarily consist of changes in fair value of contingent consideration and associated costs related to the previously contemplated separation of the PMRI businesses.

(10)

The net charge primarily relates to an income tax reserve adjustment associated with the June 2023, Israeli Central-Lod District Court decision and the establishment of a valuation allowance against certain net operating losses which were partially offset by a benefit from the change in a Swiss Cantonal tax rate associated with previously established deferred tax assets from intercompany intellectual property transactions and the step up in tax basis for Swiss Cantonal purposes.

Medtronic plc

GAAP TO NON-GAAP RECONCILIATIONS (1)

(Unaudited)



Three months ended April 25, 2025

(in millions)

Net Sales


SG&A
Expense


SG&A
Expense as
a % of Net
Sales


R&D
Expense


R&D
Expense
as a % of
Net Sales


Other
Operating
(Income)
Expense,
net


Other
Operating
(Inc.)/Exp.,
net as a % of
Net Sales


Other Non-
Operating
Expense
(Income), net

GAAP

$      8,927


$     2,721


30.5 %


$       684


7.7 %


$           15


0.2 %


$               1

Non-GAAP Adjustments:
















Acquisition and divestiture-related items (2)

—


(21)


(0.2)


—


—


(67)


(0.8)


—

Medical device regulations (3)

—


—


—


(4)


—


—


—


—

(Gain)/loss on minority investments (4)

—


—


—


—


—


—


—


(172)

Non-GAAP

$      8,927


$     2,699


30.2 %


$       680


7.6 %


$         (52)


(0.6) %


$          (171)



Fiscal year ended April 25, 2025

(in millions)

Net Sales


SG&A
Expense


SG&A
Expense as
a % of Net
Sales


R&D
Expense


R&D Expense
as a % of
Net Sales


Other
Operating
(Income)
Expense,
net


Other
Operating
(Inc.)/Exp.,
net as a % of
Net Sales


Other Non-
Operating
Income, net

GAAP

$    33,537


$   10,849


32.3 %


$    2,732


8.1 %


$         (23)


(0.1) %


$          (402)

Non-GAAP Adjustments:
















Restructuring and associated costs (5)

—


(10)


—


—


—


—


—


—

Acquisition and divestiture-related items (2)

—


(60)


(0.2)


—


—


(25)


(0.1)


—

Medical device regulations (3)

—


(1)


—


(14)


—


—


—


—

Other (6)

90


—


—


—


—


—


—


—

(Gain)/loss on minority investments (4)

—


—


—


—


—


—


—


(213)

Non-GAAP

$    33,627


$   10,778


32.1 %


$    2,719


8.1 %


$         (47)


(0.1) %


$          (615)



See description of non-GAAP financial measures contained in the press release dated May 21, 2025.

(1)

The data in this schedule has been intentionally rounded to the nearest million, and, therefore, may not sum.

(2)

The charges primarily include exit of business-related charges and changes in fair value of contingent consideration. The fiscal year ended April 25, 2025 includes business combination costs and gains related to certain business or asset sales.

(3)

The charges represent estimated incremental costs of complying with the new European Union medical device regulations for previously registered products and primarily include charges for contractors supporting the project and other direct third-party expenses. We consider these costs to be duplicative of previously incurred costs and/or one-time costs, which are limited to a specific time period.

(4)

We exclude unrealized and realized gains and losses on our minority investments as we do not believe that these components of income or expense have a direct correlation to our ongoing or future business operations.

(5)

Associated costs primarily include salaries and wages for employees supporting the restructuring activities, consulting expenses, asset write-offs, and contract terminations.

(6)

Reflects the recognition of incremental Italian payback accruals resulting from the two July 22, 2024 rulings by the Constitutional Court of Italy relating to certain prior years since 2015.

Medtronic plc

GAAP TO NON-GAAP RECONCILIATIONS (1)

(Unaudited)



Fiscal Year

(in millions)

2025


2024


2023

Net cash provided by operating activities

$                      7,044


$                      6,787


$                      6,039

Additions to property, plant, and equipment

(1,859)


(1,587)


(1,459)

Free Cash Flow (2)

$                      5,185


$                      5,200


$                      4,580



See description of non-GAAP financial measures contained in the press release dated May 21, 2025.

(1)

The data in this schedule has been intentionally rounded to the nearest million, and therefore, may not sum.

(2)

Free cash flow represents operating cash flows less property, plant, and equipment additions.

Medtronic plc

CONSOLIDATED BALANCE SHEETS

(Unaudited)


(in millions)


April 25, 2025


April 26, 2024

ASSETS





Current assets:





Cash and cash equivalents


$               2,218


$               1,284

Investments


6,747


6,721

Accounts receivable, less allowances and credit losses of $199 and $173, respectively


6,515


6,128

Inventories


5,476


5,217

Other current assets


2,858


2,584

Total current assets


23,814


21,935

Property, plant, and equipment, net


6,837


6,131

Goodwill


41,737


40,986

Other intangible assets, net


11,667


13,225

Tax assets


4,040


3,657

Other assets


3,584


4,047

Total assets


$             91,680


$             89,981

LIABILITIES AND EQUITY





Current liabilities:





Current debt obligations


$               2,874


$               1,092

Accounts payable


2,449


2,410

Accrued compensation


2,514


2,375

Accrued income taxes


1,358


1,330

Other accrued expenses


3,683


3,582

Total current liabilities


12,879


10,789

Long-term debt


25,642


23,932

Accrued compensation and retirement benefits


1,158


1,101

Accrued income taxes


1,574


1,859

Deferred tax liabilities


403


515

Other liabilities


1,769


1,365

Total liabilities


43,424


39,561

Commitments and contingencies





Shareholders' equity:





Ordinary shares— par value $0.0001, 2.6 billion shares authorized, 1,281,934,628 and
1,311,337,531 shares issued and outstanding, respectively


—


—

Additional paid-in capital


20,833


23,129

Retained earnings


31,476


30,403

Accumulated other comprehensive loss


(4,284)


(3,318)

Total shareholders' equity


48,024


50,214

Noncontrolling interests


232


206

Total equity


48,256


50,420

Total liabilities and equity


$             91,680


$             89,981


The data in this schedule has been intentionally rounded to the nearest million, and, therefore, may not sum.

Medtronic plc

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)



Fiscal Year

(in millions)

2025


2024


2023

Operating Activities:






Net income

$           4,691


$           3,705


$           3,784

Adjustments to reconcile net income to net cash provided by operating activities:






Depreciation and amortization

2,861


2,647


2,697

Provision for credit losses

123


90


73

Deferred income taxes

(316)


(508)


(226)

Stock-based compensation

429


393


355

Loss on debt extinguishment

—


—


53

Asset impairments and related inventory write-downs

—


371


—

Other, net

310


573


270

Change in operating assets and liabilities, net of acquisitions and divestitures:






Accounts receivable, net

(433)


(391)


(576)

Inventories

(292)


(139)


(939)

Accounts payable and accrued liabilities

209


391


696

Other operating assets and liabilities

(538)


(345)


(148)

Net cash provided by operating activities

7,044


6,787


6,039

Investing Activities:






Acquisitions, net of cash acquired

(98)


(211)


(1,867)

Additions to property, plant, and equipment

(1,859)


(1,587)


(1,459)

Purchases of investments

(8,226)


(7,748)


(7,514)

Sales and maturities of investments

8,495


7,441


7,343

Other investing activities, net

(249)


(261)


4

Net cash used in investing activities

(1,937)


(2,366)


(3,493)

Financing Activities:






Change in current debt obligations, net

(1,070)


1,073


—

Proceeds from short-term borrowings (maturities greater than 90 days)

—


—


2,284

Repayments from short-term borrowings (maturities greater than 90 days)

—


—


(2,279)

Issuance of long-term debt

3,209


—


5,409

Payments on long-term debt

—


—


(6,012)

Dividends to shareholders

(3,589)


(3,666)


(3,616)

Issuance of ordinary shares

508


284


308

Repurchase of ordinary shares

(3,235)


(2,138)


(645)

Other financing activities

(184)


(3)


(409)

Net cash used in financing activities

(4,361)


(4,450)


(4,960)

Effect of exchange rate changes on cash and cash equivalents

188


(230)


243

Net change in cash and cash equivalents

934


(259)


(2,171)

Cash and cash equivalents at beginning of period

1,284


1,543


3,714

Cash and cash equivalents at end of period

$           2,218


$           1,284


$           1,543

Supplemental Cash Flow Information






Cash paid for:






Income taxes

$           1,819


$           1,622


$           1,548

Interest

762


826


606


The data in this schedule has been intentionally rounded to the nearest million, and, therefore, may not sum.

Medtronic FY25 Q4 Earnings

(PRNewsfoto/Medtronic plc)

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/medtronic-reports-strong-finish-to-its-fiscal-year-with-its-fourth-quarter-financial-results-announces-dividend-increase-302461588.html

SOURCE Medtronic plc

News Provided by PR Newswire via QuoteMedia

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Medtronic plc.

Medtronic plc.

One of the largest medical device companies, Medtronic develops and manufactures therapeutic medical devices for chronic diseases. Its portfolio includes pacemakers, defibrillators, heart valves, stents, insulin pumps, spinal fixation devices, neurovascular products, advanced energy, and surgical tools. The company markets its products to healthcare institutions and physicians in the United States and overseas. Foreign sales account for almost 50% of the company's total sales.

Medtronic announces intent to separate Diabetes business

Medtronic announces intent to separate Diabetes business

Enables intense focus on highest margin growth drivers where Medtronic has leading core competencies

Leading, scaled, direct-to-consumer Diabetes business poised to become standalone company; only company with a complete ecosystem to address intensive insulin management

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Orchestra BioMed Reports First Quarter 2025 Financial Results and Highlights Recent Regulatory and Clinical Milestones

Orchestra BioMed Reports First Quarter 2025 Financial Results and Highlights Recent Regulatory and Clinical Milestones

  • FDA Breakthrough Device Designation Awarded to AVIM Therapy
  • FDA IDE Approved for Virtue SAB U.S. Pivotal Trial for Launch

Orchestra BioMed Holdings, Inc. (Nasdaq: OBIO, "Orchestra BioMed" or the "Company"), a biomedical company accelerating high-impact technologies to patients through risk-reward sharing partnerships, today announced financial results for the first quarter ended March 31, 2025, and provided a business update highlighting continued regulatory momentum, disciplined operational execution, and a strengthening clinical development pipeline.

Q1 2025 Highlights:

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Medtronic to announce financial results for its fourth quarter and full fiscal year 2025

Medtronic to announce financial results for its fourth quarter and full fiscal year 2025

- Medtronic plc (NYSE: MDT), a global leader in healthcare technology, today announced that it will report financial results for its fourth quarter and full fiscal year 2025 on Wednesday, May 21, 2025 . A news release will be issued at approximately 5:45 a.m. Central Daylight Time (CDT) and will be available at https:news.medtronic.com . The news release will include summary financial information for the company's fourth quarter and full fiscal year 2025, which ended on Friday, April 25, 2025 .

Medtronic will host a video webcast at 7:00 a.m. CDT on May 21, 2025 , to discuss results for its fourth quarter and full fiscal year 2025. The webcast can be accessed at https://investorrelations.medtronic.com .

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New survey: 1 in 3 women have not talked to their doctor about heart health, the #1 killer of women

New survey: 1 in 3 women have not talked to their doctor about heart health, the #1 killer of women

Star Jones , award winning television personality & women's heart health advocate,   helps kick off heart health conversations this Mother's Day with the Medtronic 'Letter to My Mother' campaign

A new Medtronic-sponsored survey of women ages 30-50 reveals a significant gap in awareness and discussion around heart health among women and their mother-figures. Despite cardiovascular disease being the #1 killer of women in the U.S. many women are still unaware of the risk and the importance of heart health.

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Medtronic Affera pulsed field ablation technologies continue to demonstrate promising evidence for atrial fibrillation patients

Medtronic Affera pulsed field ablation technologies continue to demonstrate promising evidence for atrial fibrillation patients

  • One-year clinical trial data for the next-generation, investigational, Sphere-360â„¢ single-shot PFA catheter show impressive safety, performance, and efficiency results for paroxysmal Afib
  • Dual-energy (RF/PF), focal Sphere-9â„¢ catheter demonstrates efficacy for linear ablation in persistent AFib
  • Medtronic continues legacy of leadership in innovation, showcasing arrhythmia management portfolio at Heart Rhythm Society annual meeting

Medtronic plc (NYSE: MDT), a global leader in healthcare technology, today announced positive clinical outcomes from two studies in atrial fibrillation (AFib) patients treated with the Afferaâ„¢ family of technologies, including the next-generation Sphere-360â„¢ single-shot pulsed field ablation (PFA) catheter and the groundbreaking Sphere-9â„¢ combination mapping and dual-energy focal PFA catheter. Data were presented in High Impact Science Sessions at the Heart Rhythm Society 2025 Annual Meeting in San Diego ; the Sphere-360 study was simultaneously published in the Heart Rhythm Journal .

(PRNewsfoto/Medtronic plc)

Sphere-360 Study Safety and Performance

Sphere-360 is an investigational, first-of-its-kind, single-shot PFA mapping and ablation catheter for treatment of paroxysmal atrial fibrillation (PAF). Results for Sphere-360 at one year, in a prospective, single-arm, multi-center trial performed in European centers, demonstrated freedom from arrhythmia recurrence in 88% of patients, with chronically durable pulmonary vein isolation (PVI) in 98% of targeted veins and no reported safety events in a sub-group treated with the most optimized waveform. The Sphere-360 catheter has a large, conformable lattice design that can be modified into various shapes, is seamlessly integrated with the Affera Mapping and Ablation System and utilizes an 8.5 Fr sheath – the smallest in any single-shot PFA technology.

"The Affera technology is a sophisticated ecosystem, including an advanced, intuitive mapping system and catheters that are seamlessly integrated to offer treatment options for different cardiac arrhythmias. It is encouraging to see the promising results for Sphere-360, which can easily create circumferential lesions without the need for catheter rotation," said Vivek Reddy , M.D., Director of Cardiac Arrhythmia Services for the Mount Sinai Health System in New York City . "The study results showed Sphere-360 has a promising safety and performance profile with zero serious adverse events observed. Upon approval, Sphere-360 will be a valuable addition to Medtronic's Affera system, which has been a game changer for Afib treatment and physician workflow."

Medtronic intends to begin its U.S. pivotal trial for the Sphere-360 catheter later this calendar year. Worldwide, Sphere-360 is currently investigational and not approved for sale or distribution.

Sphere-9 for Linear Ablation

Additionally, in a sub-analysis from the Sphere Per-AF IDE study , results demonstrated that the Sphere-9 catheter can be used safely and effectively to create linear lesions in persistent AF patients. Linear ablation is often used in conjunction with PVI to improve the chances of restoring a normal heart rhythm without recurrence in persistent AF patients. The Sphere Per-AF IDE study evaluated the safety, efficacy and efficiency of Affera and Sphere-9 in persistent AF and led to the FDA approval of Affera in October 2024 .

"True to our Medtronic mission for patients and legacy of innovation, we are delivering our best-in-class technologies to physicians and improving care for AFib patients, and we are not slowing down," said Rebecca Seidel , president of the Cardiac Ablation Solutions business at Medtronic, which is part of the Cardiovascular portfolio. "These results signify another step forward and energize us as we continue to earn and build our leadership position in electrophysiology every day."

Medtronic is the only company with two PFA offerings for physicians and patients. The PulseSelectâ„¢ Pulsed Field Ablation System offers physicians a safe, single-shot solution for pulmonary vein isolation (PVI) and is now available in more than 30 countries. The Affera system together with the Sphere-9 catheter enables physician treatment flexibility with its wide area focal design and 9mm lattice tip that can used with an 8.5Fr sheath. Affera is available in Europe , Australia and New Zealand , with global expansion ongoing.

AFib is one of the most common and undertreated heart rhythm disorders, affecting more than 60 million people worldwide. 1 Afib is a progressive disease, often beginning as paroxysmal AFib (presents intermittently) and progressing to persistent (lasts for more than 7+ days without stopping). As the disease progresses, the risk of serious complications including heart failure, stroke and risk of death increases 2-5 .

For more information on the Affera PFA system and the Sphere-9 catheter, visit Medtronic.com.

About Medtronic

Bold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered in Galway , Ireland , is the leading global healthcare technology company that boldly attacks the most challenging health problems facing humanity by searching out and finding solutions. Our Mission — to alleviate pain, restore health, and extend life — unites a global team of 95,000+ passionate people across more than 150 countries. Our technologies and therapies treat 70 health conditions and include cardiac devices, surgical robotics, insulin pumps, surgical tools, patient monitoring systems, and more. Powered by our diverse knowledge, insatiable curiosity, and desire to help all those who need it, we deliver innovative technologies that transform the lives of two people every second, every hour, every day. Expect more from us as we empower insight-driven care, experiences that put people first, and better outcomes for our world. In everything we do, we are engineering the extraordinary. For more information on Medtronic (NYSE: MDT), visit www.Medtronic.com and follow Medtronic on LinkedIn .

Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic's periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.

References

  1. Roth GA, Mensah GA, Johnson CO et al. Global Burden of Cardiovascular Diseases and Risk Factors, 1990-2019: Update From the GBD 2019 Study. J Am Coll Cardiol 2020;76:2982-3021.
  2. Miyasaka Y, Barnes ME, Bailey KR, et al. Mortality trends in patients diagnosed with first atrial fibrillation: a 21-year community-based study. J Am Coll Cardiol 2007;49:986-92.
  3. Hindricks G, Potpara T, Dagres N, et al. 2020 ESC Guidelines for the diagnosis and management of atrial fibrillation developed in collaboration with the European Association of Cardio-Thoracic Surgery (EACTS). Eur Heart J 2020.
  4. Wolf PA , Abbott RD, Kannel WB. Atrial fibrillation as an independent risk factor for stroke: the Framingham Study. Stroke 1991;22:983-8.
  5. Lubitz SA, Moser C, Sullivan L, et al. Atrial fibrillation patterns and risks of subsequent stroke, heart failure, or death in the community. J Am Heart Assoc 2013;2:e000126

Dr. Reddy is a paid consultant for Medtronic.

Contacts:
Leslie Williamson
Public Relations
+1-612-227-5099

Ryan Weispfenning
Investor Relations
+1-763-505-4626

View original content to download multimedia: https://www.prnewswire.com/news-releases/medtronic-affera-pulsed-field-ablation-technologies-continue-to-demonstrate-promising-evidence-for-atrial-fibrillation-patients-302439006.html

SOURCE Medtronic plc

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Medtronic Expand URO U.S. clinical trial meets safety and effectiveness primary endpoints for Hugo robotic-assisted surgery system

Medtronic Expand URO U.S. clinical trial meets safety and effectiveness primary endpoints for Hugo robotic-assisted surgery system

Largest multi-center prospective Investigational Device Exemption (IDE) study for multi-port robotic-assisted urologic surgery   in the U.S. presented as a late-breaker at the American Urologic Association annual meeting

Company confirms Hugo RAS system submission to the U.S. Food and Drug Administration

Medtronic (NYSE: MDT), a global leader in healthcare technology, today announced that the Expand URO Investigational Device Exemption (IDE) clinical study, the largest such study for robotic-assisted urologic surgery ever conducted, met both primary safety and effectiveness endpoints. The prospective, multi-center, single-arm IDE study included 137 patients who underwent urologic procedures using the Hugoâ„¢ robotic-assisted surgery (RAS) system.

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