[{"_1":2,"_3":-5,"_4":-5},"loaderData",{"_5":6,"_7":8},"actionData","errors","root",{"_100":101},"en-item",{"_9":10,"_10":11},"kind","item",{"_12":13,"_14":15,"_16":17,"_18":19,"_20":21,"_22":23,"_24":25,"_26":27,"_28":29,"_30":31,"_32":31,"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":-5,"_48":49,"_50":-5,"_51":-5,"_52":53,"_54":55,"_56":57,"_58":42,"_59":42,"_60":61,"_62":42,"_63":64},"id","yo9q4pgnp2edxjjru41dj1wbc","revision",2,"title","CONMED公布截至2026年9月30日止季度及九个月业绩：九个月净销售额下降约0.5%，净利润升至5,670万美元","originalTitle","10-Q - CONMED Corp (0000816956) (Filer)","summary","CONMED截至2026年9月30日止九个月净销售额为9.961亿美元，较上年同期下降约0.5%；净利润为5,670万美元，高于上年同期的3,032万美元。第三季度净销售额为3.356亿美元，同比下降约0.7%，净利润为1,980万美元，高于上年同期的286万美元。","reason","这份10-Q节选呈现CONMED九个月净利润上升、经营现金流下降及债务和回购情况，可用于了解其业绩与流动性变化。","source",{"_12":91,"_92":93,"_9":94,"_95":42,"_96":97,"_98":99},"links",{"_88":89,"_77":90},"publishedAt","2026-10-28T20:11:57.000Z","discoveredAt","2026-10-29T02:02:54.610Z","timelineAt","category","ai-products","tags",[83,84,85,86,87],"stockSymbols",[82],"score",65,"selected",true,"channel","news","story",{"_72":73,"_16":74},"x","readingMode","full","author","language","body",{"_64":76,"_77":-5,"_78":79,"_80":81},"outline",[],"relatedStories",[75],"indexable","markdownAvailable","group",{"_65":66,"_45":67,"_68":15,"_69":70,"_71":70},"hasTranslation","bodyLanguage","zh","factId","f6YcMaAjX1C0",{"_72":73,"_16":74},"reportCount","additionalSourceCount",0,"developmentCount","publicId","44160ab1-a2f1-4165-b41a-e4f8f76139df","CONMED公布2026年第三季度及九个月业绩",{"_72":73,"_16":74},"

美国

证券交易委员会

华盛顿特区 20549

10-Q 表

☒ 根据《1934年证券交易法》第13或15(d)条提交的季度报告

或

☐ 根据《1934年证券交易法》第13或15(d)条提交的过渡报告


截至该季度末	委员会档案编号
2026年9月30日	001-39218

CONMED CORPORATION

（注册人章程中载明的确切名称）


特拉华州	16-0977505
（注册成立或组织所在州或其他司法管辖区）	（美国国税局雇主识别号）

11311 Concept Blvd	Largo，	佛罗里达州	33773
（主要行政办公室地址）	（邮政编码）

(727) 392-6464

（注册人的电话号码，包括区号）

根据该法第12(b)条登记的证券


各类别名称	交易代码	上市交易所名称
普通股，面值 $0.01	CNMD	NYSE

请勾选说明注册人是否：(1) 已在此前12个月内（或注册人须提交此类报告的较短期间内）提交《1934年证券交易法》第13或15(d)条要求提交的所有报告；且 (2) 在过去90天内一直受此类申报要求约束。

是 ☒ 否 ☐

请勾选说明注册人是否已在此前12个月内（或注册人须提交此类文件的较短期间内），以电子方式提交根据 S-T 条例第405条（本章§232.405）要求提交的所有交互式数据文件。

是 ☒ 否 ☐

请勾选说明注册人属于大型加速申报公司、加速申报公司、非加速申报公司、较小报告公司还是新兴成长型公司。参见《交易法》第12b-2条中“大型加速申报公司”“加速申报公司”“较小报告公司”和“新兴成长型公司”的定义（勾选一项）。

大型加速申报公司 ☒ 加速申报公司 ☐ 非加速申报公司 ☐

较小报告公司 ☐ 新兴成长型公司 ☐

如果是新兴成长型公司，请勾选说明注册人是否已选择不采用《交易法》第13(a)条规定的延长过渡期，以遵守任何新的或修订后的财务会计准则。 ☐

请勾选说明注册人是否为空壳公司（定义见《交易法》第12b-2条）。

是 ☐ 否 ☒

截至2026年10月26日，注册人已发行普通股为29,803,323股。

CONMED CORPORATION

10-Q 表季度报告

截至2026年9月30日的季度


第一部分财务信息
项目编号		页码

第1项。	财务报表（未经审计）

	– 截至2026年和2025年9月30日止三个月及九个月的合并简明综合收益表	1

	截至2026年9月30日和2025年12月31日的合并简明资产负债表	2

	截至2026年和2025年9月30日止三个月及九个月的合并简明股东权益表	3

	截至2026年和2025年9月30日止九个月的合并简明现金流量表	5

	合并简明财务报表附注	6


第2项。	管理层对财务状况和经营成果的讨论与分析	21

第3项。	有关市场风险的定量和定性披露	29

第4项。	控制和程序	29

第二部分其他信息

第1项。	法律诉讼	29

第2项。	未注册股权证券的出售及所得款项用途	29

第5项。	其他信息	30

第6项。	附件	31


签名	32

第一部分财务信息

第1项。

CONMED CORPORATION

CONMED CORPORATION 合并简明综合收益表

（未经审计，单位：千美元，每股金额除外）


	截至三个月		截至九个月
	9月30日		9月30日
	2026		2025		2026		2025
净销售额	$	335,557			$	337,926		$	996,090	$	1,001,526

销售成本	146,409			171,807			426,038		469,336

毛利	189,148			166,119			570,052		532,190

销售及行政费用	136,416			140,339			423,667		425,207

研发费用	15,588			13,901			47,421		40,985

运营费用	152,004			154,240			471,088		466,192

营业收入	37,144			11,879			98,964		65,998

利息费用	11,135			7,606			26,078		23,716

其他（收益）/费用	—			—			(2,825)		418

税前收入	26,009			4,273			75,711		41,864

所得税费用	6,213			1,414			19,016		11,548

净利润	$	19,796			$	2,859		$	56,695	$	30,316

综合收益	$	18,992			$	6,605		$	58,814	$	39,941


每股数据：

净利润
基本	$	0.66			$	0.09		$	1.88	$	0.98
摊薄	0.66			0.09			1.87		0.97

加权平均普通股数
基本	29,926			30,955			30,178		31,027
摊薄	30,125			31,050			30,253		31,145

参见合并简明财务报表附注。

CONMED CORPORATION

CONMED CORPORATION 合并简明资产负债表

（未经审计，单位：千美元，股份和每股金额除外）


	2026年9月30日 2026年		2025年12月31日 2025年
资产
流动资产：
现金及现金等价物	$	47,972			$	40,817
应收账款净额	233,913			247,830
存货	362,829			355,544
预付费用及其他流动资产	37,325			28,669
流动资产总额	682,039			672,860
不动产、厂房及设备净额	108,768			113,331
商誉	796,927			807,011
其他无形资产净额	556,630			582,051
其他资产	160,098			150,496
资产总额	$	2,304,462			$	2,325,749




负债和股东权益
流动负债：
长期债务的流动部分	$	180,109			$	712
应付账款	98,495			93,648
应计薪酬和福利	76,619			82,139
其他流动负债	103,740			138,542
流动负债总额	458,963			315,041

长期债务	635,757			834,230
递延所得税	88,962			79,530
其他长期负债	60,861			63,851
负债总额	1,244,543			1,292,652

承诺和或有事项

股东权益：
优先股，每股面值$0.01；
授权发行500,000股；无已发行在外股份	—			—
普通股，每股面值$0.01；授权发行100,000,000股；2026年和2025年分别已发行31,299,194股	313			313
实收资本	518,448			503,200
留存收益	645,461			588,766
累计其他综合亏损	(44,176)			(46,295)
减：2026年和2025年分别有1,429,841股和328,097股普通股作为库存股，按成本计	(60,127)			(12,887)
股东权益总额	1,059,919			1,033,097
负债和股东权益总额	$	2,304,462			$	2,325,749

参见合并简明财务报表附注。

CONMED CORPORATION

合并简明股东权益报表

（未经审计，除每股金额外，以千为单位）


	普通股	实收资本	留存收益	累计其他综合亏损	库存股	股东权益
	股数	金额
2025年12月31日余额	31,299		$	313		$	503,200		$	588,766	$	(46,295)	$	(12,887)	$	1,033,097
根据员工计划发行普通股			(208)				1,233		1,025
股票薪酬			5,502					5,502
回购普通股 (a)						(37,387)		(37,387)




综合收益：
现金流套期收益，净额					3,061
养老金负债，净额					213
外币折算调整					(1,666)
净利润				13,828
综合收益总额							15,436

2026年3月31日余额	31,299		$	313		$	508,494		$	602,594	$	(44,687)	$	(49,041)	$	1,017,673
根据员工计划发行普通股			(264)				626		362
股票薪酬			5,230					5,230

回购普通股 (a)						(6,265)		(6,265)

结算可转换票据套期交易			12					12
结算认股权证			(8)					(8)


综合收益：
现金流套期收益，净额					2,394
养老金负债，净额					213
外币折算调整					(1,292)
净利润				23,071
综合收益总额							24,386
2026年6月30日余额	31,299		$	313		$	513,464		$	625,665	$	(43,372)	$	(54,680)	$	1,041,390
根据员工计划发行普通股			(927)				817		(110)
股票薪酬			5,911					5,911
回购普通股 (a)						(6,264)		(6,264)
综合收益：
现金流套期损失，净额					(2,048)
养老金负债，净额					213
外币折算调整					1,031
净利润				19,796
综合收益总额							18,992
2026年9月30日余额	31,299		$	313		$	518,448		$	645,461	$	(44,176)	$	(60,127)	$	1,059,919

(a) 包括消费税


	普通股	实收资本	留存收益	累计其他综合亏损	库存股	股东权益
	股数	金额
2024年12月31日余额	31,299		$	313		$	476,575		$	560,277	$	(58,857)	$	(15,627)	$	962,681
根据员工计划发行普通股			(1,340)				1,117		(223)
股票薪酬			13,863					13,863
普通股股息（每股 $0.20）				(6,186)				(6,186)


综合收益：
现金流量套期损失，净额					(3,669)
养老金负债，净额					268
外币折算调整					4,866
净收益				6,036
综合收益总额							7,501

截至 2025年3月31日的余额	31,299		$	313		$	489,098		$	560,127	$	(57,392)	$	(14,510)	$	977,636
根据员工计划发行普通股			36				649		685
股份支付薪酬			4,903					4,903
普通股股息（每股 $0.20）				(6,189)				(6,189)






综合收益：
现金流量套期损失，净额					(6,840)
养老金负债，净额					268
外币折算调整					10,986
净收益				21,421
综合收益总额							25,835
截至 2025年6月30日的余额	31,299		$	313		$	494,037		$	575,359	$	(52,978)	$	(13,861)	$	1,002,870
根据员工计划发行普通股			50				344		394
股份支付薪酬			4,585					4,585
普通股股息（每股 $0.20）				(6,191)				(6,191)
综合收益：
现金流量套期收益，净额					3,734
养老金负债，净额					268
外币折算调整					(256)
净收益				2,859
综合收益总额							6,605
截至 2025年9月30日的余额	31,299		$	313		$	498,672		$	572,027	$	(49,232)	$	(13,517)	$	1,008,263

请参阅合并简明财务报表附注。

CONMED CORPORATION

合并简明现金流量表

（未经审计，单位：千）


	截至九个月
	9月30日，
	2026		2025
经营活动产生的现金流量：
净收益	$	56,695			$	30,316
将净收益调节为经营活动提供的现金净额的调整项目：
折旧	12,234			13,077

递延债务发行成本摊销	2,940			4,107
摊销	44,832			42,354
股份支付薪酬	16,643			23,352

递延所得税	8,281			2,711
出售产品业务所得收益，净额	(1,824)			—
或有对价负债公允价值的非现金调整	1,215			3,504
提前清偿债务的（收益）损失，净额	(4,597)			363

资产和负债变动导致的现金流量增加（减少）：
应收账款	12,977			20,310
存货	(15,600)			(15,242)
应付账款	3,862			3,863
应计薪酬和福利	(5,362)			8,990
其他资产	(29,946)			(12,934)
其他负债	(2,372)			(417)
经营活动提供的现金净额	99,978			124,354

投资活动产生的现金流量：
出售产品业务所得款项	22,313			—
购置不动产、厂房和设备	(8,510)			(14,695)

其他	—			850
投资活动提供（使用）的现金净额	13,803			(13,845)

融资活动产生的现金流量：
偿还定期贷款	(5,625)			(79,821)
定期贷款所得款项	450,000			25,234
偿还循环信贷额度	(583,000)			(508,432)
循环信贷额度所得款项	763,000			508,432
回购普通股	(49,423)			—
回购可转换票据的付款	(637,176)			—

与或有对价相关的付款	(40,679)			(22,577)
与债务发行成本相关的付款	(3,562)			(2,897)
支付的普通股股息	—			(18,555)




其他，净额	721			166
融资活动使用的现金净额	(105,744)			(98,450)

汇率变动对现金及现金等价物的影响	(882)			2,411

现金及现金等价物净增加额	7,155			14,470

期初现金及现金等价物	40,817			24,459

期末现金及现金等价物	$	47,972			$	38,929

非现金融资活动：


应付股息	$	—			$	6,191

请参阅合并简明财务报表附注。

CONMED CORPORATION

合并简明财务报表附注

（未经审计，除每股金额外，以千为单位）

附注 1 - 业务

CONMED Corporation（“CONMED”、“本公司”、“我们”或“我方”）是一家医疗技术公司，为外科手术提供设备和器械。本公司的产品供外科医生及其他医疗专业人员用于多个专科，包括骨科、普通外科、妇科和胸外科。

在截至2026年3月31日的季度内，本公司出售了与我们的胃肠病学产品相关的某些资产，售价为$7.0 million，并将该资产出售收益$3.9 million计入销售和管理费用。在随后几个季度内，我们将额外收益$2.2 million计入销售和管理费用。

在截至2026年6月30日的季度内，本公司完成了出售与我们的胃肠病学产品相关的其他资产，售价为$14.0 million。该交易按业务出售进行会计处理，因此产生$4.4 million的损失，详情见附注9。

附注 2 - 中期财务信息

随附的未经审计合并简明财务报表按照中期财务信息公认会计原则以及10-Q表格说明和S-X条例第10条编制。因此，这些报表未包含年度财务报表按公认会计原则要求的全部信息和脚注。本文所列信息反映了所有正常经常性重大调整；管理层认为，这些调整对于公允列报所示期间的业绩是必要的。本文所列合并简明财务报表包括所有全资境内外子公司，并已抵销所有重大公司间交易。截至2026年9月30日止期间的业绩不一定代表截至2026年12月31日止年度可能达到的业绩。

合并简明财务报表及其附注应与我们截至2025年12月31日年度的合并财务报表及附注一并阅读；后者载于我们的10-K表格年度报告。

估计的使用

按照美利坚合众国普遍接受的会计原则编制合并简明财务报表，要求管理层作出估计和判断，这些估计和判断会影响合并简明财务报表日资产、负债以及或有资产和负债相关披露的报告金额，以及报告期内收入和费用的报告金额。尽管全球经济和金融市场存在不确定性和动荡，截至2026年10月28日（本季度报告Form 10-Q的发布日），我们并不知悉任何需要更新估计或判断，或修订资产或负债账面价值的具体事件或情况。随着新事件发生并获得更多信息，这些估计可能会发生变化。在不同假设或条件下，实际结果可能与这些估计存在重大差异。

附注3 - 新会计公告

近期发布但尚未采纳的会计准则

2025年9月，财务会计准则委员会（“FASB”）发布了会计准则更新（“ASU”）2025-06——无形资产—商誉及其他—内部使用软件（子主题350-40）：内部使用软件会计处理的针对性改进。该准则删除了所有关于软件开发阶段的引用。该准则还要求，在同时满足以下条件时，实体应将软件资本化：(1) 管理层已批准并承诺为该项目提供资金；(2) 项目很可能完成，且软件将用于执行预期功能。根据项目状态以及软件成本是否在采纳日之前已资本化，该ASU可采用未来适用法、追溯法或经修改的过渡方法采纳。该准则适用于2026年12月15日之后开始的年度期间，

以及2027年12月15日之后开始的财政年度内的中期期间；允许提前采纳。我们目前正在评估该ASU对合并财务报表的影响。

2024年11月，FASB发布了ASU 2024-03——综合收益报告——费用分类披露（子主题220-40），并由ASU 2025-01予以澄清。该准则要求在年度和中期脚注披露中，将某些费用项目细分为指定类别。持续经营业务损益表中列示的任何相关费用项目，均须按以下费用性质类别细分：(1) 存货采购；(2) 员工薪酬；(3) 折旧；(4) 无形资产摊销。该ASU可采用未来适用法或追溯法采纳，适用于2026年12月15日之后开始的年度期间，以及2027年12月15日之后开始的财政年度内的中期期间。我们预计该ASU只会影响披露。

附注4 - 收入

下表按主要产品销售地理市场、产品线及收入确认时点列示收入明细：


	截至三个月		截至三个月
	2026年9月30日		2025年9月30日
	骨科手术		普通外科手术		总计		骨科手术	普通外科手术		总计
主要地理市场
美国	$	51,538			$	121,167		$	172,705		$	52,456		$	141,523	$	193,979
欧洲、中东和非洲	35,029			32,590			67,619		30,935		27,746		58,681
亚太地区	37,733			22,648			60,381		33,765		20,061		53,826
美洲（不包括美国）	24,534			10,318			34,852		21,037		10,403		31,440
客户合同总销售额	$	148,834			$	186,723		$	335,557		$	138,193		$	199,733	$	337,926

收入确认时点
在某一时点转让的商品	$	136,521			$	185,836		$	322,357		$	126,763		$	197,069	$	323,832
随时间转让的服务	12,313			887			13,200		11,430		2,664		14,094
客户合同总销售额	$	148,834			$	186,723		$	335,557		$	138,193		$	199,733	$	337,926


	截至九个月		截至九个月
	2026年9月30日		2025年9月30日
	骨科手术		普通外科手术		总计		骨科手术	普通外科手术		总计
主要地理市场
美国	$	159,123			$	362,022		$	521,145		$	157,158		$	411,195	$	568,353
欧洲、中东和非洲	113,818			99,085			212,903		101,730		88,404		190,134
亚太地区	105,131			54,364			159,495		94,624		54,995		149,619
美洲（不包括美国）	70,738			31,809			102,547		63,704		29,716		93,420
客户合同总销售额	$	448,810			$	547,280		$	996,090		$	417,216		$	584,310	$	1,001,526

收入确认时点
在某一时点转让的商品	$	415,444			$	540,532		$	955,976		$	383,693		$	576,651	$	960,344
随时间转让的服务	33,366			6,748			40,114		33,523		7,659		41,182
客户合同总销售额	$	448,810			$	547,280		$	996,090		$	417,216		$	584,310	$	1,001,526

与向客户销售延长保修相关的合同负债余额如下：


	2026年9月30日		2025年12月31日

合同负债	$	24,025		$	21,967

截至2026年9月30日和2025年9月30日的九个月期间，从期初合同负债金额中确认的收入分别为1,270万美元和1,220万美元。截至2026年9月30日和2025年12月31日，不存在重大合同资产。

附注5——综合收益

综合收益包括以下项目：


	截至9月30日的三个月		截至9月30日的九个月
	2026		2025		2026		2025
净利润	$	19,796			$	2,859		$	56,695	$	30,316

其他综合收益（亏损）：
现金流量套期收益（亏损），扣除所得税后（截至2026年和2025年9月30日的三个月所得税费用（收益）分别为$(655)和$1,195；截至2026年和2025年9月30日的九个月所得税费用（收益）分别为$1,091和$(2,168)）	(2,048)			3,734			3,408		(6,775)
养老金负债，扣除所得税后（截至2026年和2025年9月30日的三个月所得税费用分别为$68和$86；截至2026年和2025年9月30日的九个月所得税费用分别为$206和$257）	213			268			640		805
外币折算调整	1,031			(256)			(1,929)		15,595

综合收益	$	18,992			$	6,605		$	58,814	$	39,941

累计其他综合亏损包括以下项目：


	现金流套期收益（亏损）		养老金负债		累计折算调整		累计其他综合亏损
2025年12月31日余额	$	(905)			$	(14,287)		$	(31,103)	$	(46,295)

重分类前其他综合收益（亏损），扣除税项后	4,680			—			(1,929)		2,751
从累计其他综合收益（亏损）中重分类的税前金额a	(1,679)			846			—		(833)
所得税	407			(206)			—		201

本期其他综合收益（亏损）净额	3,408			640			(1,929)		2,119

2026年9月30日余额	$	2,503			$	(13,647)		$	(33,032)	$	(44,176)


	现金流套期收益（亏损）		养老金负债		累计折算调整		累计其他综合亏损
2024年12月31日余额	$	4,297			$	(16,880)		$	(46,274)	$	(58,857)

重新分类前的其他综合收益（亏损），税后净额	(6,984)			—			15,595		8,611
税前从累计其他综合收益（亏损）中重新分类的金额a	276			1,062			—		1,338
所得税	(67)			(257)			—		(324)

本期其他综合收益（亏损）净额	(6,775)			805			15,595		9,625

2025年9月30日余额	$	(2,478)			$	(16,075)		$	(30,679)	$	(49,232)

(a)现金流量套期收益（亏损）和养老金负债累计其他综合亏损组成部分，分别计入销售额或销售成本以及定期净养老金成本的组成部分。详情请参阅附注6和附注12。

附注6 - 公允价值计量

我们仅出于风险管理目的订立衍生工具。我们在国际范围内经营，在正常业务过程中面临利率、外汇汇率和大宗商品价格波动。这些波动可能增加业务融资、投资和运营成本。我们使用远期合约（一种衍生工具）管理某些外币风险敞口。

所有金融工具本质上都涉及市场和信用风险。我们与主要投资级金融机构订立远期合约，并制定了监控这些交易对手信用风险的政策。尽管无法保证，但我们预计这些交易对手不会出现任何重大不履约情况。

外币远期合约。我们通过使用远期合约对以外币计价的预测公司间销售进行套期保值。这些远期合约作为现金流量套期进行会计处理。在这些远期合约符合套期会计标准的范围内，其公允价值变动不计入当期收益，而计入累计其他综合亏损。这些公允价值变动将在预测交易发生时作为销售额或销售成本的组成部分计入收益。

我们还订立远期合约，将外币兑换为美元，以对冲以外币指定的公司间应收款项所产生的货币交易风险敞口。这些远期合约每月在月末结算，届时我们会订立新的远期合约。我们未将这些远期合约指定为套期工具，也未对其采用套期会计。

下表列示未到期远期合约的名义合约金额：


		截至
	FASB ASC主题815指定情况	2026年9月30日		2025年12月31日
外汇远期合约	现金流量套期	$	258,729			$	239,588
外汇远期合约	非指定	67,769			49,459

截至2026年9月30日，指定为套期工具的外汇合约剩余期限在两年以内，未指定为套期工具的远期外汇合约剩余期限约为一个月。

综合收益表列报

指定为现金流量套期的衍生工具

指定为现金流量套期的外汇合约对累计其他综合收益（亏损）（“AOCI”）以及我们合并简明综合收益表和合并简明资产负债表中净收益的影响如下：


	在 AOCI 中确认的收益（亏损）金额		合并简明综合收益表		从 AOCI 重新分类的收益（亏损）金额
	截至 9 月 30 日的三个月
							列报项目总额
衍生工具	2026		2025		重新分类金额所在项目		2026	2025		2026		2025

外汇合约	$	(1,670)			$	4,387			净销售额		$	335,557	$	337,926	$	(30)	$	(653)
					销售成本		146,409		171,807			1,063		112
税前收益（亏损）	$	(1,670)			$	4,387							$	1,033	$	(541)
所得税费用（收益）	(405)			1,063								250		(131)
净收益（亏损）	$	(1,265)			$	3,324							$	783	$	(410)


	在 AOCI 中确认的收益（亏损）金额		合并简明综合收益表		从 AOCI 重新分类的收益（亏损）金额
	截至 9 月 30 日的九个月
							列报项目总额
衍生工具	2026		2025		重新分类金额所在项目		2026	2025		2026		2025

外汇合约	$	6,178			$	(9,219)			净销售额		$	996,090	$	1,001,526	$	(1,300)	$	505
					销售成本		426,038		469,336			2,979		(781)
税前收益（亏损）	$	6,178			$	(9,219)							$	1,679	$	(276)
所得税费用（收益）	1,498			(2,235)								407		(67)
净收益（亏损）	$	4,680			$	(6,984)							$	1,272	$	(209)

截至 2026 年 9 月 30 日，计入累计其他综合亏损的现金流量套期远期合约净未实现收益 220 万美元预计将在未来十二个月内计入收益。

未指定为现金流量套期的衍生工具

未作为套期工具核算的衍生工具净亏损，以及我们合并简明综合收益表中公司间应收款项的收益（亏损）如下：


		截至 9 月 30 日的三个月		截至 9 月 30 日的九个月
衍生工具	合并简明综合收益表中的列报项目	2026		2025	2026		2025

货币远期合约净亏损	销售及管理费用	$	(1,950)		$	(150)		$	(2,913)	$	(2,230)
货币交易敞口净收益（亏损）	销售及管理费用	$	1,243		$	(690)		$	458	$	653

资产负债表列报

我们按公允价值计量这些远期外汇合约。以下表格汇总了截至 2026 年 9 月 30 日和 2025 年 12 月 31 日未到期远期外汇合约的公允价值：


2026 年 9 月 30 日	合并简明资产负债表中的列报项目	资产公允价值		负债公允价值		净公允价值
指定为被套期项目的衍生工具：
外汇合约	预付费用及其他流动资产	$	5,053			$	(2,188)		$	2,865
外汇合约	其他资产	891			(454)			437
		$	5,944			$	(2,642)		$	3,302

未指定为套期工具的衍生工具：
外汇合约	其他流动负债	4			(249)			(245)

衍生工具总额		$	5,948			$	(2,891)		$	3,057


2025 年 12 月 31 日	合并简明资产负债表中的列报项目	资产公允价值		负债公允价值		净公允价值
指定为被套期项目的衍生工具：
外汇合约	其他流动负债	$	4,389			$	(5,223)		$	(834)
外汇合约	其他长期负债	46			(407)			(361)
		$	4,435			$	(5,630)		$	(1,195)

未指定为套期工具的衍生工具：
外汇合约	其他流动负债	—			(307)			(307)

衍生工具总额		$	4,435			$	(5,937)		$	(1,502)

我们的远期外汇合约受主净额结算协议约束，并符合在合并简明资产负债表中进行净额结算的条件。

公允价值披露。 FASB 指引定义了公允价值，并建立了公允价值计量框架及相关披露要求。该指引适用于要求或允许进行公允价值计量的情形。该指引指出，除其他事项外，公允价值计量假定资产出售或负债转移交易发生在该资产或负债的主要市场；若无主要市场，则发生在最有利市场。公允价值基于退出价格模型进行定义。

估值层级。我们建立了估值层级，用于披露衡量公允价值所采用估值输入值的相关信息。该层级将输入值划分为以下三个主要级别。第 1 级输入值是活跃市场中相同资产或负债的报价（未经调整）。第 2 级输入值包括活跃市场中类似资产和负债的报价、非活跃市场中相同或类似资产的报价、除报价以外可观察到的资产或负债输入值（包括利率、收益率曲线和信用风险），或主要依据可观察市场数据推导得出或经其佐证的输入值。第 3 级输入值是基于我们自身假设、用于按公允价值计量资产和负债的不可观察输入值。金融资产或负债在层级中的分类，取决于对公允价值计量具有重要意义的最低级别输入值。假设没有发生重大变化。

估值技术。截至 2026 年 9 月 30 日，按经常性基础以公允价值列账和计量的资产及负债包括远期外汇合约和或有对价。本公司使用类似资产的报价对远期外汇合约进行估值。最重要的假设是报价汇率。远期外汇合约资产和负债采用第 2 级输入值估值，并列于上表中。

本公司使用第 3 级输入值对收购 In2Bones, Global Inc.（“In2Bones”）和 Biorez, Inc.（“Biorez”）产生的或有对价进行估值。收购日根据预期转让的对价，以公允价值确认或有对价；该金额按概率加权的未来现金流量估算，并折现至现值。或有对价的公允价值使用预计付款日期、折现率、收入波动率和预计收入进行计量。In2Bones 和 Biorez 的业绩对赌期分别于 2026 年 6 月 30 日和 2026 年 9 月 30 日结束。

In2Bones或有对价公允价值的调整主要由In2Bones的收入水平驱动，导致在2026年6月30日业绩对赌期结束时该负债被转销。Biorez或有对价公允价值的调整主要与时间推移有关。截至2026年和2025年9月30日止九个月，或有对价负债公允价值的变动如下：


	In2Bones		Biorez
	2026	2025		2026	2025
截至1月1日的余额	$	2,160		$	11,196		$	59,248	$	61,021

付款	—		—			(40,679)	(22,577)
或有对价公允价值变动	(2,160)		(8,828)			3,375	12,332

截至9月30日的余额	$	—		$	2,368		$	21,944	$	50,776

2026年9月30日和2025年12月31日，合并简明资产负债表中的其他流动负债分别包括2,190万美元和6,140万美元的或有对价。

合并简明资产负债表中列报的现金及现金等价物、应收账款、应付账款和浮动利率长期债务的账面金额接近其公允价值。

附注7 - 存货

存货包括以下项目：


	9月30日 2026年		12月31日 2025年
原材料	$	118,652			$	109,630
在制品	38,501			33,263
制成品	205,676			212,651
合计	$	362,829			$	355,544

附注8 - 每股收益

基本每股收益（“基本EPS”）按净利润除以报告期普通股加权平均流通股数计算。稀释每股收益（“稀释EPS”）反映所有具有稀释性的潜在股份。

下表列示截至2026年和2025年9月30日止三个月和九个月基本及稀释每股收益的计算：


	截至9月30日止三个月		截至9月30日止九个月
	2026		2025		2026		2025

净利润	$	19,796			$	2,859		$	56,695	$	30,316

基本加权平均流通股数	29,926			30,955			30,178		31,027

股票薪酬奖励	199			95			75		118





稀释加权平均流通股数	30,125			31,050			30,253		31,145

净利润（每股）
基本	$	0.66			$	0.09		$	1.88	$	0.98
稀释	0.66			0.09			1.87		0.97

稀释EPS计算所用股份不包括行权价高于该期间普通股平均市价、且纳入后会产生反稀释影响的股票期权、股票增值权、限制性股票单位和绩效股票单位。上述股份在截至2026年9月30日止三个月和九个月分别合计约370万股和430万股；在截至2025年9月30日止三个月和九个月分别合计约400万股和390万股。

附注9 - 商誉及其他无形资产

截至2026年9月30日止九个月商誉账面净额的变动如下：


截至2025年12月31日的余额	$	807,011



分配至出售业务的商誉	(9,778)

外币折算	(306)

截至2026年9月30日的余额	$	796,927

被收购企业的资产和负债按收购日的估计公允价值入账。商誉代表超过分配给被收购企业相关净资产的公允价值的成本。

在截至2026年6月30日的季度内，公司完成了额外资产的出售，这些资产构成一项业务，涉及胃肠病学产品组合，售价为14.0 million。由于该交易被认定为出售一项业务，我们根据相对公允价值向该业务分配了9.8 million商誉，因此在销售及管理费用中确认了4.4 million的出售损失。

其他无形资产包括以下内容：


	2026年9月30日		2025年12月31日
	加权平均摊销期限（年）	总账面金额		累计摊销		总账面金额		累计摊销
有限寿命无形资产：	22

客户及分销商关系	24	$	365,093			$	(228,920)		$	370,068	$	(221,904)

销售代表、营销及推广权	25	149,376			(88,500)			149,376		(84,000)

已开发技术	18	317,904			(73,531)			317,904		(65,281)

专利及其他无形资产	15	86,125			(57,061)			87,029		(57,685)

无限寿命无形资产：

商标及商号		86,144			—			86,544		—

		$	1,004,642			$	(448,012)		$	1,010,921	$	(428,870)

客户及分销商关系、商标及商号、已开发技术以及专利和其他无形资产主要代表对被收购企业可辨认无形资产的购买价分配。销售代表、营销及推广权代表根据我们与肌肉骨骼移植基金会（Musculoskeletal Transplant Foundation）签订的协议形成的无形资产。

与须摊销无形资产相关的摊销费用，在截至2026年和2025年9月30日的三个月内分别为8.8 million和8.7 million，在截至2026年和2025年9月30日的九个月内分别为26.2 million和26.1 million；该费用在简明合并综合收益表中列为收入的抵减项（与

我们的销售代表、营销及推广权相关的摊销）以及销售及管理费用（与所有其他无形资产相关）。

截至2026年12月31日止年度剩余期间及随后五个年度每年的预计无形资产摊销费用如下：


	计入费用的摊销		作为收入抵减项入账的摊销		合计
2026年剩余期间	$	7,472			$	1,500		$	8,972
2027	30,430			6,000			36,430
2028	33,912			6,000			39,912
2029	33,106			6,000			39,106
2030	34,586			6,000			40,586
2031	36,017			6,000			42,017

附注10 - 长期债务

长期债务包括以下内容：


	2026年9月30日		2025年12月31日
循环信贷额度	$	180,000			$	—
A-1期贷款，扣除2026年和2025年分别为$158和$218的递延债务发行成本	39,842			39,782
A-2期贷款，扣除2026年$3,267的递延债务发行成本	441,108			—
2.250%可转换票据，扣除2026年和2025年分别为$576和$6,073的递延债务发行成本	154,182			793,927
融资租赁	734			1,233
债务总额	815,866			834,942
减：流动部分	180,109			712
长期债务总额	$	635,757			$	834,230

第八次修订及重述高级信贷协议

2025年6月10日，我们签订了第八次修订并重述的高级信贷协议，包括：(a) 1亿美元定期贷款额度（“Term A-1 Loan”）和 (b) 6.5亿美元循环信贷额度。2026年5月27日，我们签订了第八次修订并重述的高级信贷协议的第一项修正案，以获得4.5亿美元高级担保延迟提款定期贷款额度的额外承诺（“Term A-2 Loan”）。循环信贷额度将于2030年6月10日终止，两项定期贷款额度下的未偿贷款也将于该日到期。

Term A-1 Loan 原须在额度期限内按季度分期偿还，且分期金额逐步增加，剩余未偿余额于到期时偿还。2025年，我们提前偿还了 Term A-1 Loan 额度下的6,000万美元，从而免除了此类季度还款。Term A-1 Loan 额度所得款项及循环信贷额度下的借款用于偿还当时现有的高级信贷协议。2026年6月12日，我们根据 Term A-2 Loan 借入了4.5亿美元。Term A-2 Loan 须在额度期限内按季度分期偿还，且分期金额逐步增加，剩余未偿余额于到期时偿还。Term A-2 Loan 额度所得款项及循环信贷额度下的借款用于回购部分2.250%可转换票据（“2.250% Notes”）。

Term A-1 Loan 和循环信贷额度的利率为定期担保隔夜融资利率（“SOFR”）（截至2026年9月30日为3.938%）加1.500%的利率差额（截至2026年9月30日为5.438%）。对于我们选择采用替代基准利率的借款，初始基准利率为以下各项中的最高者：(i) 最优惠利率，(ii) 纽约联邦储备银行利率加0.50%，或 (iii) 一个月期定期 SOFR 加1.00%，并在每种情况下另加利率差额。Term A-2 Loan 的利率为调整后的定期担保隔夜融资利率（3.813%）加1.750%的利率差额（截至2026年9月30日为5.563%）。

截至2026年9月30日，Term A-1 Loan 有4,000万美元未偿借款，Term A-2 Loan 有4.444亿美元未偿借款。截至2026年9月30日，循环信贷额度下有1.8亿美元未偿借款。截至2026年9月30日，我们在循环信贷额度下可用的借款金额为4.685亿美元，其中约150万美元额度预留用于未偿信用证。由于未偿债务采用浮动利率，定期贷款和循环信贷额度的账面金额接近公允价值。

第八次修订及重述的高级信贷协议以我们几乎所有的财产和资产作为担保。第八次修订及重述的高级信贷协议包含契约和限制，其中包括要求维持某些财务比率，并限制股息支付、某些债务的产生以及其他活动，包括收购和处置。截至2026年9月30日，我们完全遵守这些契约和限制。在某些情况下，我们还必须使用产生某些额外债务、出售某些资产或获得保险赔款或征收补偿款的净现金收益进行强制性提前还款，但均受某些例外情况和再投资权的约束。

2.250% 可转换票据

2022年6月6日，我们发行了本金总额为$800.0 million的2.250%票据。利息每半年于每年6月15日和12月15日到期后支付，首次支付日为2022年12月15日。除非提前回购或转换，2.250%票据将于2027年6月15日到期。2.250%票据属于次级无担保债务，在契约所定义的某些情况下，可转换为现金与CONMED普通股的组合，其中本金必须以现金偿付。2.250%票据的初始转换率为每$1,000本金金额可转换为6.8810股我们的普通股（相当于每股普通股初始转换价格约为$145.33）。持有人可选择在2027年3月15日或之后的任何时间，直至到期日前第二个预定交易日，将2.250%票据转换。2027年3月15日之前，持有人也有权转换2.250%票据，但仅限于发生特定事件时。发生某些事件时，转换率须作反稀释调整。部分所得款项用于回购部分当时尚未偿还的2.625%可转换票据（“2.625%票据”）、偿还当时循环信贷额度的未偿余额、偿还当时未偿还定期贷款中的$90.0 million，以及部分支付In2Bones Global, Inc.收购款。此外，约$115.6 million的所得款项用于支付与2.250%票据相关的某些可转换票据对冲交易的成本。

2026年6月15日，公司以现金支付$637.2 million，回购了本金金额为$645.2 million的2.250%票据。在截至2026年9月30日的九个月内，公司在其他收入中确认了$8.1 million的债务清偿收益。我们还在其他费用中确认了与2.250%票据相关的未摊销债务发行成本核销$3.5 million以及专业服务费$1.8 million。

截至2026年和2025年9月30日止三个月，我们分别确认2.250%票据利息支出 $0.9 million和$4.5 million；截至2026年和2025年9月30日止九个月，我们分别按2.250%的合同票面利率确认2.250%票据利息支出$9.3 million和$13.5 million。

截至2026年9月30日，剩余2.250%票据的估计公允价值约为1.517亿美元，依据市场法确定，该估值在公允价值层级中属于第2级。估计公允价值是根据期末最后一个营业日场外市场交易中2.250%票据的估计或实际买卖报价确定的。

可转换票据对冲交易

在发行2.250%票据时，我们与多家金融机构（各称为“期权交易对手方”）订立了可转换票据对冲交易。可转换票据对冲交易覆盖2.250%票据相关的本公司普通股股数，但须遵守与适用于2.250%票据的反稀释调整基本相似的调整。与订立可转换票据对冲交易同时，我们还与各期权交易对手方分别订立了认股权证交易，据此，我们向该期权交易对手方出售认股权证，可按惯例反稀释调整购买相同数量的本公司普通股。

在回购本金金额为6.452亿美元的2.250%票据时，本公司与期权交易对手方签订协议，终止相应部分的对冲和认股权证，涉及2.250%

票据。由于本公司应收的净公允价值金额不重大，该交易被记录为实收资本的调整。

可转换票据对冲交易通常预计将减少转换2.250%票据时可能产生的稀释，和/或抵销我们在转换2.250%票据时可能需要支付的超过本金金额的现金（视情况而定）；前提是按照可转换票据对冲交易条款计量的本公司普通股每股市价高于该交易的行权价。该行权价最初与2.250%票据的转换价格相对应，并须遵守与适用于2.250%票据转换率的反稀释调整基本相似的调整。但是，如果按照认股权证交易条款计量的本公司普通股每股市价超过认股权证的行权价（251.53美元），则超出认股权证行权价的部分仍会造成稀释，除非我们选择以现金结算认股权证。

截至2026年9月30日未偿长期债务的剩余到期安排如下：


剩余，2026年	$	5,625
2027	182,883
2028	39,375
2029	45,000
2030	546,250

上述金额不包括递延债务发行成本和融资租赁。

我们认为，现有现金及现金等价物、经营活动产生的现金流，以及根据第八次修订及重述高级信贷协议可用的借款额度，将足以满足自提交本季度报告Form 10-Q之日起至少未来十二个月的现金需求。

附注11——担保

我们在销售某些产品时提供保修，并销售延长保修服务。资本设备的标准保修期通常为一年，延长保修期通常为一至三年。服务和保修政策下的负债依据对历史保修和服务索赔情况的审查确定。根据索赔数据和历史经验，在适当情况下调整应计金额。

截至9月30日的九个月内，标准保修负债变动如下：


	2026		2025
截至1月1日的余额	$	1,323			$	1,445

保修准备金	935			415
已提出的索赔	(692)			(530)

截至9月30日的余额	$	1,566			$	1,330

延长保修维修相关成本在发生时入账，截至2026年和2025年9月30日的九个月分别为360万美元和320万美元。

附注12 - 养老金计划

定期养老金净成本包括以下项目：


	截至9月30日的三个月		截至9月30日的九个月
	2026		2025		2026		2025
服务成本	$	123			$	164		$	369	$	492

预计福利义务的利息成本	818			882			2,454		2,646

计划资产的预期回报	(1,154)			(1,091)			(3,462)		(3,273)

净摊销及递延	282			354			846		1,062

定期养老金净成本	$	69			$	309		$	207	$	927

我们预计2026年不会缴纳任何养老金。2026年和2025年截至9月30日的三个月及九个月期间，非服务性养老金成本/（收益）并不重大。

附注13 - 业务分部

我们以单一经营分部实体的形式开展业务并进行报告，从事外科器械及相关设备的全球开发、制造和销售。公司在全球范围内取得收入，并因共享基础设施和资源而以合并口径管理业务。我们的首席运营决策者（“CODM”），即总裁兼首席执行官，以净销售额为基础评估各全球产品组合，并在全球合并基础上评估盈利能力、投资和现金流指标以及分配资源。

我们的产品线包括骨科手术和普外科。骨科手术包括运动医学和下肢器械及植入物、小骨、大骨和专科电动手术器械，以及用于微创手术的成像系统，还包括与运动医学同种异体移植组织销售代理、推广和营销相关的费用。普外科包括一整套用于微创腹腔镜手术的内镜机械器械、临床充气设备、烟雾排出设备、一系列患者监测产品，以及电外科发生器和相关器械。各产品线的净销售额如下：


	截至9月30日的三个月		截至9月30日的九个月
	2026		2025		2026		2025
骨科手术	$	148,834			$	138,193		$	448,810	$	417,216
普外科	186,723			199,733			547,280		584,310
合并净销售额	$	335,557			$	337,926		$	996,090	$	1,001,526

下表列示了重要的分部费用：


	截至9月30日的三个月		截至9月30日的九个月
	2026		2025		2026		2025

净销售额	$	335,557			$	337,926		$	996,090	$	1,001,526
销售成本(a)	146,409			171,807			426,038		469,336
销售团队和佣金费用	56,903			59,404			174,268		175,760
营销费用	18,859			16,915			56,151		49,782
分销费用	13,860			13,085			41,283		38,270
一般及行政费用	30,112			31,941			93,649		97,609
股份薪酬费用	5,911			4,585			16,643		23,352
摊销费用	7,247			7,233			21,745		21,597
或有对价负债公允价值的非现金调整	605			1,341			1,215		3,504
研发费用(b)	15,588			13,901			47,421		40,985
利息费用	11,135			7,606			26,078		23,716
其他（收入）/费用	—			—			(2,825)		418
所得税拨备	6,213			1,414			19,016		11,548
其他分部项目(c)	2,919			5,835			18,713		15,333
净利润	$	19,796			$	2,859		$	56,695	$	30,316

(a)2026 年截至 9 月 30 日的九个月，销售成本包括与停止某些产品相关的库存、设备和模具费用，以及提前终止与 W.L. Gore & Associates, Inc. 的分销协议所产生的净收益。2025 年销售成本包括在截至 2025 年 9 月 30 日的三个月和九个月内，因运营优化咨询和内部审查而取消计划中的新产品线及停止某些产品目录编号，所核销的库存、设备、模具和专利。此外，公司还发生了聘请咨询公司评估并提出改进制造运营方案的相关成本，这些成本计入截至 2025 年 9 月 30 日的三个月和九个月的销售成本。

(b)Research and development expense includes costs to comply with the European Union's Medical Device Regulations in the three and nine months ended September 30, 2026.

(c)Other segment items consist of (i) consulting fees, legal fees, and other costs related to operational optimization in the three and nine months ended September 30, 2026 and 2025; (ii) cash compensation costs related to advisory services provided by our former Chief Financial Officer and Chief Executive

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Officer in the nine months ended September 30, 2026 and 2025, respectively; (iii) loss from the sale of additional assets related to the gastroenterology product offerings which was recorded as a sale of a business in the nine months ended September 30, 2026; (iv) a gain from the sale of certain assets related to gastroenterology products in the three and nine months ended September 30, 2026; (v) third party services pertaining to the review of potential issues with certain royalty payments to surgeons involved in design teams in three and nine months ended September 30, 2025; and (vi) gain on the sale of a product offering in the nine months ended September 30, 2025.

Total assets for the Company's single operating segment are the same as presented on the Company's consolidated balance sheet, which is used to measure segment performance.

Note 14 - Legal Proceedings

In the ordinary course of business, we are involved in various legal actions involving product liability, employment, intellectual property and commercial disputes, stockholder related matters, environmental proceedings, tax disputes, and governmental proceedings and investigations. We do not expect that the resolution of any pending claims, investigations or reports of alleged misconduct will have a material adverse effect on our financial condition, results of operations or cash flows. There can be no assurance, however, that future claims, investigations, or reports of alleged misconduct, or the costs associated with responding to such claims, investigations or reports of alleged misconduct, especially when not covered by insurance, will not have a material adverse effect on our financial condition, results of operations or cash flows.

We record reserves sufficient to cover probable and estimable losses associated with pending claims. If the reasonable estimate of a probable loss is a range, and no amount within the range is a better estimate than any other, the minimum amount of the range is recorded. In most cases, significant judgment is required to estimate the amount and timing of a loss to be recorded and actual results may differ from these estimates. The amounts accrued are based on the full amount of the estimated loss before considering insurance proceeds and do not include an estimate for legal fees expected to be incurred in connection with the loss contingency.

For further description of our legal proceedings, reference is made to Note 13, “Legal Proceedings” in the Notes to the Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2025.

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Item 2.	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Forward-Looking Statements

In this Quarterly Report on Form 10-Q, we make forward-looking statements about our financial condition, results of operations and business. Forward-looking statements are statements made by us concerning events that may or may not occur in the future. These statements may be made directly in this document or may be “incorporated by reference” from other documents. Such statements may be identified by the use of words such as “anticipates”, “expects”, “estimates”, “intends” and “believes” and variations thereof and other terms of similar meaning.

Forward-looking statements involve known and unknown risks, uncertainties and other factors, including those that may cause our actual results, performance or achievements or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include those identified under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025 and the following, among others:

•general economic and business conditions, including, without limitation, a potential economic downturn, supply chain challenges and constraints, including the availability and cost of materials, the effects of inflation, changes in foreign exchange rates and increased interest rates;

•trade protection measures, tariffs and other border taxes, and import or export licensing requirements;

•compliance with and changes in laws and regulatory requirements;

•the failure of any enterprise-wide software programs or information technology systems, or potential disruption associated with updating or implementing new software programs or information technology systems;

•the risk of an information security breach, including a cybersecurity breach;

•pandemics and health crises, and the responses thereto by governments and hospitals;

•the possibility that United States or foreign regulatory and/or administrative agencies may initiate enforcement actions against us or our distributors;

•the introduction and acceptance of new products;

•the ability to advance our product lines, including challenges and uncertainties inherent in product research and development, and the uncertain impact, outcome and cost of ongoing and future clinical trials and market studies;

•competition;

•changes in customer preferences;

•changes in technology;

•cyclical customer purchasing patterns due to budgetary, staffing and other constraints;

•environmental compliance risks, including lack of availability of sterilization with Ethylene Oxide (“EtO”) or other compliance costs associated with the use of EtO;

•the quality of our management and business abilities and the judgment of our personnel, as well as our ability to attract, motivate and retain employees at all levels of the Company;

•the availability, terms and deployment of capital;

•current and future levels of indebtedness and capital spending;

•the ability to evaluate, finance and integrate acquired businesses, products and companies;

•changes in business strategy;

•the impact of divestitures of products or product portfolios;

•the risk of a lack of allograft tissues due to reduced donations of such tissues or due to tissues not meeting the appropriate high standards for screening and/or processing of such tissues;

•the ability to defend and enforce intellectual property, including the risks related to theft or compromise of intellectual property in connection with our international operations;

•the risk of patent, product and other litigation, as well as the cost associated with such litigation; and

•weather related events which may disrupt our operations.

See “Management’s Discussion and Analysis of Financial Condition and Results of Operations” below and “Risk Factors” and “Business” in our Annual Report on Form 10-K for the year ended December 31, 2025 for a further discussion of these factors. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We do not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of this Quarterly Report on Form 10-Q or to reflect the occurrence of unanticipated events.

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Amounts reported in millions within this Quarterly Report on Form 10-Q are computed based on the amounts in thousands. As a result, the sum of the components may not equal the total amount reported in millions due to rounding. Certain columns and rows within tables may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying unrounded amounts.

Overview

CONMED Corporation is a medical technology company that provides devices and equipment for surgical procedures. The Company’s products are used by surgeons and other healthcare professionals in a variety of specialties including orthopedics, general surgery, gynecology, and thoracic surgery.

Our product lines consist of orthopedic surgery and general surgery. Orthopedic surgery consists of sports medicine and lower extremities instrumentation and implants, small bone, large bone and specialty powered surgical instruments as well as imaging systems for use in minimally invasive surgery procedures and service fees related to the promotion and marketing of sports medicine allograft tissue. General surgery consists of a complete line of endo-mechanical instrumentation for minimally invasive laparoscopic procedures, clinical insufflation, smoke evacuation devices, a line of patient monitoring products as well as electrosurgical generators and related instruments. These product lines as a percentage of consolidated net sales are as follows:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2026		2025		2026	2025
Orthopedic surgery	44	%		41	%	45	%	42	%
General surgery	56	%		59	%	55	%	58	%
Consolidated net sales	100	%		100	%	100	%	100	%

A significant amount of our products are used in surgical procedures with approximately 85% of our revenues derived from the sale of single-use products. Our capital equipment offerings also facilitate the ongoing sale of related single-use products and accessories, thus providing us with a recurring revenue stream. We manufacture substantially all of our products in facilities located in the United States and Mexico. We market our products both domestically and internationally directly to customers and through distributors. International sales approximated 48% and 43% of our consolidated net sales during the nine months ended September 30, 2026 and 2025, respectively.

Business Environment

In recent years, the Company has experienced higher manufacturing and operating costs as well as ongoing supply chain challenges. We continue to monitor our spending and expenses in light of these factors. We engaged a consulting firm during the prior year to evaluate and propose improvements in our manufacturing operations. In addition, our results of operations are being impacted by tariffs placed on imported goods to the United States as well as exporting of products to other countries. During the first quarter of 2026, the Supreme Court ruled tariffs paid under the International Emergency Economic Powers Act (\"IEEPA\") were illegal. We have followed the process to submit refund claims for such payments and as a result received $10.2 million of IEEPA tariff refunds during the quarter ended June 30, 2026, of which $8.5 million was recorded in cost of goods sold and the remaining was recorded to inventory. See \"Item 1A. Risk Factors\" in our Annual Report on Form 10-K for the year ended December 31, 2025 for more information.

The Company has not been materially impacted by the conflicts in Ukraine and the Middle East. The Company has no direct operations in these regions with our business limited to selling to third party distributors. Total revenues and accounts receivable associated with sales to third party distributors in these regions are not material to the consolidated condensed financial statements. We will continue to monitor and adjust, if necessary, our business strategy in response to the conflicts in these regions.

On December 5, 2025, we announced our intent to exit our gastroenterology product offerings as part of our portfolio optimization strategy. This included the termination of our distribution agreement with W.L. Gore & Associates, Inc. (\"Gore\") for the Gore® VIABIL® biliary stent effective January 1, 2026; the sale of certain assets related to our gastroenterology product offerings during the first quarter of 2026; and the subsequent sale of additional assets related to the gastroenterology product offerings that was recorded as a sale of a business during the second quarter of 2026. In conjunction with the transaction in the second quarter, we entered into a manufacturing and supply agreement where CONMED will continue to manufacture certain gastroenterology products for the buyer for twelve months.

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Critical Accounting Policies

Preparation of our financial statements requires us to make estimates and assumptions which affect the reported amounts of assets, liabilities, revenues and expenses. Note 1 to the Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2025 describes the significant accounting policies used in preparation of the Consolidated Financial Statements. On an ongoing basis, we evaluate the critical accounting policies used to prepare our consolidated financial statements, including, but not limited to, those related to goodwill and intangible assets, contingent consideration and our pension benefit obligation.

Consolidated Results of Operations

The following table presents, as a percentage of net sales, certain categories included in our consolidated condensed statements of comprehensive income for the periods indicated:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2026		2025		2026	2025
Net sales	100.0	%		100.0	%	100.0	%	100.0	%
Cost of sales	43.6			50.8		42.8		46.9
Gross profit	56.4			49.2		57.2		53.1
Selling and administrative expense	40.7			41.5		42.5		42.5
Research and development expense	4.6			4.1		4.8		4.1
Income from operations	11.1			3.5		9.9		6.6
Interest expense	3.3			2.3		2.6		2.4
Other (income) / expense	—			—		(0.3)		—
Income before income taxes	7.8			1.3		7.6		4.2
Provision for income taxes	1.9			0.4		1.9		1.2
Net income	5.9	%		0.8	%	5.7	%	3.0	%

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Net Sales

The following table presents net sales by product line (in millions) for the three and nine months ended September 30, 2026 and 2025:


	Three Months Ended
					% Change
	2026		2025		As Reported		Impact of Foreign Currency		Constant Currency
Orthopedic surgery	$	148.8			$	138.2			7.7	%		-0.5	%		7.2	%
General surgery	186.7			199.7			-6.5	%		0.1	%		-6.4	%
Net sales	$	335.6			$	337.9			-0.7	%		-0.1	%		-0.8	%

Single-use products	$	285.7			$	289.2			-1.2	%		-0.1	%		-1.3	%
Capital products	49.8			48.7			2.2	%		-0.1	%		2.1	%
Net sales	$	335.6			$	337.9			-0.7	%		-0.1	%		-0.8	%

	Nine Months Ended
					% Change
	2026		2025		As Reported		Impact of Foreign Currency		Constant Currency
Orthopedic surgery	$	448.8			$	417.2			7.6	%		-1.4	%		6.2	%
General surgery	547.3			584.3			-6.3	%		-0.5	%		-6.8	%
Net sales	$	996.1			$	1,001.5			-0.5	%		-0.9	%		-1.4	%

Single-use products	$	850.8			$	863.2			-1.4	%		-0.9	%		-2.3	%
Capital products	145.2			138.3			5.0	%		-0.8	%		4.2	%
Net sales	$	996.1			$	1,001.5			-0.5	%		-0.9	%		-1.4	%

Net sales decreased 0.7% in the three months ended September 30, 2026 and decreased 0.5% in the nine months ended September 30, 2026 compared to the same periods a year ago. During 2026, we exited the gastroenterology product offerings, impacting net sales growth. Gastroenterology sales included $1.7 million from the manufacturing and supply agreement in the three months ended September 30, 2026, as compared to total gastroenterology sales of $26.0 million in the three months ended September 30, 2025. Gastroenterology sales were $16.3 million, inclusive of $4.5 million from the manufacturing and supply agreement, in the nine months ended September 30, 2026, as compared to $76.4 million in the nine months ended September 30, 2025.

•Orthopedic surgery sales increased 7.7% in the three months ended September 30, 2026 primarily due to growth in our sports medicine, visualization, and BioBrace® product offerings. Orthopedic surgery sales increased 7.6% in the nine months ended September 30, 2026 primarily due to growth in our sports medicine, powered surgical instruments, visualization, and BioBrace® product offerings.

•General surgery sales decreased 6.5% and 6.3% in the three and nine months ended September 30, 2026 primarily due to the exit from our gastroenterology product offerings which was partially offset by growth in AirSeal®, endomechanical instruments, patient monitoring devices, and smoke evacuation product offerings.

Cost of Sales

Cost of sales decreased to $146.4 million in the three months ended September 30, 2026 as compared to $171.8 million in the three months ended September 30, 2025 and decreased to $426.0 million in the nine months ended September 30, 2026 compared to $469.3 million in the nine months ended September 30, 2025. Gross profit margins increased 720 basis points to 56.4% in the three months ended September 30, 2026 as compared to 49.2% in the three months ended September 30,

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2025. Gross profit margins increased 410 basis points to 57.2% in the nine months ended September 30, 2026 as compared to 53.1% in the nine months ended September 30, 2025.

The 720 basis point increase in gross profit margins during the three months ended September 30, 2026 was primarily impacted by the following:

•a $19.7 million write off of inventory, equipment, tooling and patents related to the cancellation of planned new product lines and discontinuation of certain catalog numbers during the three months ended September 30, 2025;

•a $3.7 million charge for the engagement of consultants to evaluate and propose improvements to our supply chain and manufacturing operations during the three months ended September 30, 2025; and

•favorable product mix.

The 410 basis point increase in gross profit margins during the nine months ended September 30, 2026 was primarily impacted by the following:

•a $12.3 million charge for the engagement of consultants to evaluate and propose improvements to our supply chain and manufacturing operations during the nine months ended September 30, 2025;

•an $8.5 million benefit from IEEPA tariff refunds in the nine months ended September 30, 2026;

•a $1.7 million benefit resulting from the termination of our distribution agreement with W.L. Gore & Associates, Inc. for the Gore® VIABIL® biliary stent during the nine months ended September 30, 2026;

•favorable foreign exchange rates and product mix; and

•a $7.0 million charge for inventory, equipment and tooling related to the discontinuation of certain products in the nine months ended September 30, 2026.

Selling and Administrative Expense

Selling and administrative expense decreased to $136.4 million in the three months ended September 30, 2026 as compared to $140.3 million in the three months ended September 30, 2025 and decreased to $423.7 million in the nine months ended September 30, 2026 as compared to $425.2 million in the nine months ended September 30, 2025. Selling and administrative expense as a percentage of net sales decreased 80 basis points to 40.7% in the three months ended September 30, 2026 as compared to 41.5% in the three months ended September 30, 2025 and was 42.5% in both the nine months ended September 30, 2026 and 2025.

The decrease in selling and administrative expense as a percentage of sales for the three months ended September 30, 2026 was primarily driven by:

•consulting fees, legal fees and other costs related to operational optimization of $3.1 million during the three months ended September 30, 2026 compared to $5.5 million for the three months ended September 30, 2025; and

•decrease of $0.7 million in costs related to fair value adjustments to contingent consideration ($0.6 million of expense for the three months ended September 30, 2026 compared to $1.3 million of expense for the three months ended September 30, 2025), see Note 6.

Selling and administrative expenses as a percentage of sales for the nine months ended September 30, 2026 were consistent with the prior period. The following is a summary of changes in selling and administrative expenses during the nine months ended September 30, 2026 compared to September 30, 2025:

•consulting fees, legal fees and other costs related to operational optimization of $17.7 million during the nine months ended September 30, 2026 compared to $8.5 million for the nine months ended September 30, 2025;

•a $4.4 million loss on the sale of additional assets related to the gastroenterology product offerings which constituted a business, in the nine months ended September 30, 2026 as further described in Note 9;

•$3.3 million of cash and stock-based compensation costs related to advisory services provided by our former Chief Financial Officer in the nine months ended September 30, 2026;

•$12.2 million of cash and stock-based compensation costs related to advisory services provided by our former Chief Executive Officer in the nine months ended September 30, 2025;

•$6.1 million of benefit resulting from the gain on the sale of a product offering in the nine months ended September 30, 2026;

•a decrease of $2.3 million in costs related to fair value adjustments to contingent consideration ($1.2 million of expense for the nine months ended September 30, 2026 compared to $3.5 million of expense for the nine months ended September 30, 2025), see Note 6; and

•increased investment into our key growth drivers during the nine months ended September 30, 2026.

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Amortization expense in the three and nine months ended September 30, 2026 was in line with the three and nine months ended September 30, 2025 as a percentage of sales.

Research and Development Expense

Research and development expense increased to $15.6 million in the three months ended September 30, 2026 as compared to $13.9 million in the three months ended September 30, 2025. As a percentage of net sales, research and development expense increased 50 basis points to 4.6% in the three months ended September 30, 2026 as compared to 4.1% in the three months ended September 30, 2025. The increase in research and development expense as a percentage of sales was mainly driven by $1.9 million in costs to comply with the European Union's Medical Device Regulations in the three months ended September 30, 2026.

Research and development expense increased to $47.4 million in the nine months ended September 30, 2026 as compared to $41.0 million in the nine months ended September 30, 2025. As a percentage of net sales, research and development expense increased 70 basis points to 4.8% in the nine months ended September 30, 2026 compared to 4.1% in the nine months ended September 30, 2025. The increase in research and development expense as a percentage of sales was mainly driven by $4.1 million in costs to comply with the European Union's Medical Device Regulations as well as increased investments into our key growth drivers in the nine months ended September 30, 2026.

Interest Expense

Interest expense increased to $11.1 million in the three months ended September 30, 2026 from $7.6 million in the three months ended September 30, 2025 and increased to $26.1 million in the nine months ended September 30, 2026 from $23.7 million in the nine months ended September 30, 2025. The weighted average interest rates on our borrowings increased to 4.86% in the three months ended September 30, 2026 as compared to 2.80% in the three months ended September 30, 2025 and increased to 3.47% in the nine months ended September 30, 2026 as compared to 2.83% in the nine months ended September 30, 2025. The increase in interest expense was driven by higher weighted average interest rates partially offset by lower weighted average borrowings outstanding during 2026. Weighted average interest rates were higher in the three and nine months ended September 30, 2026 compared to the same periods a year ago due to debt refinancing completed during the quarter ended June 30, 2026, as described in Note 10.

Other (Income) / Expense

During the nine months ended September 30, 2026, we recorded income of $8.1 million for the difference between the principal value of the 2.250% Notes and the amount paid to repurchase the 2.250% Notes; and expense of $3.5 million related to the write-off of deferred financing fees associated with the repurchase of $645.2 million of the 2.250% Notes and $1.8 million in related professional fees.

Provision for Income Taxes

The Company's tax provision for interim periods is determined using an estimate of its annual effective tax rate applied to its year-to-date earnings, and also adjusting for discrete items arising in that quarter. In each quarter, the Company updates its estimate of the annual effective tax rate and if the estimated annual effective tax rate changes, the Company would make a cumulative adjustment in that quarter.

Income tax expense has been recorded at an effective tax rate of 23.9% for the three months ended September 30, 2026 compared to 33.1% for the three months ended September 30, 2025. Income tax expense has been recorded at an effective tax rate of 25.1% for the nine months ended September 30, 2026 compared to 27.6% for the nine months ended September 30, 2025. The lower effective tax rate for the three and nine months ended September 30, 2026 was primarily the result of lower expenses that were not deductible for tax, including stock compensation, incurred during 2026 as compared to the same periods during 2025. A reconciliation of the United States statutory income tax rate to our effective tax rate is included in our Annual Report on Form 10-K for the year ended December 31, 2025 under Note 8 to the consolidated financial statements.

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Non-GAAP Financial Measures

Net sales on a \"constant currency\" basis is a non-GAAP measure. The Company analyzes net sales on a constant currency basis to better measure the comparability of results between periods. To measure percentage sales growth in constant currency, the Company removes the impact of changes in foreign currency exchange rates that affect the comparability and trend of net sales.

Because non-GAAP financial measures are not standardized, it may not be possible to compare this financial measure with other companies' non-GAAP financial measures having the same or similar names. This adjusted financial measure should not be considered in isolation or as a substitute for reported net sales growth, the most directly comparable GAAP financial measure. This non-GAAP financial measure is an additional way of viewing net sales that, when viewed with our GAAP results, provides a more complete understanding of our business. The Company strongly encourages investors and shareholders to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure.

Liquidity and Capital Resources

Our liquidity needs arise primarily from capital investments, working capital requirements and payments on indebtedness under the eighth amended and restated senior credit agreement. We have historically met these liquidity requirements with funds generated from operations, borrowings under our revolving credit facility and issuances of debt in the capital markets. In addition, we have historically used term borrowings, including borrowings under the eighth amended and restated senior credit agreement and borrowings under separate loan facilities, in the case of real property purchases, to finance our acquisitions, including payments of contingent consideration. We also have the ability to raise funds through the sale of stock or we may issue debt through a private placement or public offering.

Operating cash flows

Our net working capital position was $223.1 million at September 30, 2026. Net cash provided by operating activities was $100.0 million and $124.4 million in the nine months ended September 30, 2026 and September 30, 2025, respectively, generated on net income of $56.7 million and $30.3 million for the nine months ended September 30, 2026 and 2025, respectively. Net income in the nine months ended September 30, 2026 included a $4.6 million gain on extinguishment of the 2.250% Notes as well as a $1.8 million net gain on the sale of certain assets related to gastroenterology products. In addition, below is a summary of significant changes in assets and liabilities in the nine months ended September 30, 2026:

•An increase in cash flows from accounts receivable due to timing of sales and cash receipts;

•A decrease in cash flows from inventory as we increased inventory to mitigate supply chain challenges;

•A decrease in cash flows from other assets due to increases in field inventory;

•An increase in cash flows from accounts payable due to the timing of payments; and

•A decrease in cash flows from accrued compensation and benefits as a result of higher incentive compensation payments during the period.

Investing cash flows

Net cash provided by investing activities in the nine months ended September 30, 2026 increased $27.6 million from the same period a year ago mainly driven by cash proceeds of $22.3 million from the sale of assets and a business related to the gastroenterology product offerings. Capital expenditures were $8.5 million in the nine months ended September 30, 2026 compared to $14.7 million in the same period a year ago.

Financing cash flows

Net cash used in financing activities in the nine months ended September 30, 2026 was $105.7 million compared to net cash used in financing activities of $98.5 million during 2025. Below is a summary of the significant financing activities impacting the change during the nine months ended September 30, 2026 compared to 2025:

•During the nine months ended September 30, 2026, we paid $637.2 million to repurchase $645.2 million principal value of our 2.250% Notes.

•During the nine months ended September 30, 2026, we had proceeds of $450.0 million in borrowings on the Term A-2 Loan to fund a portion of the 2.250% Notes repurchase.

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•During the nine months ended September 30, 2026, we had $180.0 million in net borrowings on our revolving line of credit compared to no net borrowings during the nine months ended September 30, 2025. The increase in borrowings was mainly to fund a portion of the 2.250% Notes repurchase.

•During the nine months ended September 30, 2026, we paid $49.4 million for repurchases of common stock.

•During the nine months ended September 30, 2026, we paid $40.7 million in contingent consideration related to the Biorez acquisition compared to $22.6 million related to the Biorez acquisition in the same period a year ago.

•During the nine months ended September 30, 2025, we had net payments on our Term A-1 Loan of $54.6 million, inclusive of a $25.2 million impact on both borrowings and repayments between independent counterparties associated with the eighth amended and restated senior credit agreement compared to $5.6 million in repayments on the Term A-2 Loan during the nine months ended September 30, 2026.

•During the nine months ended September 30, 2025, we paid $18.6 million in dividends.

Other Liquidity Matters

Our cash balances and cash flows generated from operations may be used to fund strategic investments, business acquisitions, including contingent consideration payments, working capital needs, research and development, common stock repurchases and payments of dividends to our shareholders. Management believes that cash flow from operations, including cash and cash equivalents on hand and available borrowing capacity under our eighth amended and restated senior credit agreement, will be adequate to meet our anticipated operating working capital requirements, debt service, funding of capital expenditures, and common stock repurchases in the foreseeable future. In addition, management believes we could access capital markets, as necessary, to fund future business acquisitions.

We are also being impacted by the macro-economic environment and we are experiencing higher manufacturing and operating costs caused by inflationary pressures and ongoing supply chain challenges as well as higher interest rates on variable rate debt. We continue to monitor our spending and expenses in light of these factors. However, we may need to take further steps to reduce our costs, or to refinance our debt. See “Item 1A. Risk Factors\" in our Annual Report on Form 10-K for the year ended December 31, 2025, for further discussion.

There were $40.0 million in borrowings outstanding on the Term A-1 Loan facility as of September 30, 2026. There were $180.0 million in borrowings outstanding under the revolving credit facility as of September 30, 2026. There were $444.4 million in borrowings outstanding under the Term A-2 Loan facility as of September 30, 2026. Our available borrowings on the revolving credit facility at September 30, 2026 were $468.5 million with approximately $1.5 million of the facility set aside for outstanding letters of credit.

The eighth amended and restated senior credit agreement is collateralized by substantially all of our property and assets. The eighth amended and restated senior credit agreement contains covenants and restrictions which, among other things, require the maintenance of certain financial ratios and restrict dividend payments and the incurrence of certain indebtedness and other activities, including acquisitions and dispositions. We were in full compliance with these covenants and restrictions as of September 30, 2026. We are also required, under certain circumstances, to make mandatory prepayments with net cash proceeds from the incurrence of certain additional indebtedness, certain asset sales, or insurance proceeds or condemnation awards, in each case, subject to certain exceptions and reinvestment rights.

On June 6, 2022, we issued $800.0 million aggregate principal amount of the 2.250% Notes. Interest is payable semi-annually in arrears on June 15 and December 15 of each year, commencing December 15, 2022. The 2.250% Notes will mature on June 15, 2027, unless earlier repurchased or converted. During the nine months ended September 30, 2026, we repurchased $645.2 million principal amount of the 2.250% Notes for cash consideration of $637.2 million. We intend to fund the maturity of the remaining 2.250% Convertible Notes using cash flows from our operations, along with capacity on our revolving credit facility. If we are unable to service our indebtedness, we will be forced to adopt an alternative strategy that may include actions such as foregoing acquisitions, reducing or delaying capital expenditures, selling assets, restructuring or refinancing our indebtedness or seeking additional equity capital.

See Note 10 for further information on our financing agreements and outstanding debt obligations.

Our Board of Directors has authorized a $150.0 million share repurchase program. Through September 30, 2026, we repurchased a total of 1.2 million shares of common stock aggregating $49.9 million, inclusive of excise tax, under this program. The program calls for shares to be purchased in the open market or in private transactions from time to time. Subject to applicable law, we may suspend, modify or discontinue the program at any time. The Company expects to repurchase approximately $62 million in 2026. We have financed the repurchases and may finance additional repurchases through operating cash flow and from available borrowings under our revolving credit facility. With the authorization of the share

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repurchase program, we have suspended our dividend payments and the Board of Directors will consider whether to declare dividends and the amount of such dividends from time to time in the future.

New Accounting Pronouncements

See Note 3 to the consolidated condensed financial statements for a discussion of new accounting pronouncements.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

Market risk is the potential loss arising from adverse changes in market rates and prices such as commodity prices, foreign currency exchange rates and interest rates. In the normal course of business, we are exposed to various market risks, including changes in foreign currency exchange rates and interest rates. We manage our exposure to these and other market risks through regular operating and financing activities and as necessary through the use of derivative financial instruments.

Foreign Currency Risk

There have been no significant changes in our foreign currency risk exposure or in how the exposure is managed during the nine months ended September 30, 2026. Reference is made to Item 7A. of our Annual Report on Form 10-K for the year ended December 31, 2025 for a description of Qualitative and Quantitative Disclosures About Market Risk.

Interest Rate Risk

At September 30, 2026, we had approximately $664.4 million of variable rate debt outstanding under our senior credit agreement. Variable interest rates on our senior credit agreement are determined using a base rate of the Term Secured Overnight Financing rate plus the applicable margin. A change of 1.0% in variable interest rates would increase or decrease quarterly interest expense by $1.7 million based on our outstanding debt as of September 30, 2026.

Item 4. Controls and Procedures

As of the end of the period covered by this report, an evaluation was carried out by CONMED Corporation’s management, with the participation of our Chief Executive Officer and Chief Financial Officer, of the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934). Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that these disclosure controls and procedures were effective as of the end of the period covered by this report. In addition, no change in our internal control over financial reporting (as defined in Rule 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934) occurred during the quarter ended September 30, 2026 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II OTHER INFORMATION

Item 1. Legal Proceedings

Reference is made to Item 3 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and to Note 14 of the Notes to Consolidated Condensed Financial Statements included in Part I of this Report for a description of certain legal matters.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

There were no unregistered sales of equity securities during the period covered by this report.

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Issuer Purchases of Equity Securities

The following table provides information on the Company's common stock repurchases during the third quarter of 2026:


	Total Number of Shares Purchased	Average Price Paid Per Share (1)		Total Number of Shares Purchased as Part of Publicly Announced Program (2)	Approximate Dollar Amount of Shares That May Yet be Purchased Under the Program (1)
July 1, 2026 to July 31, 2026	57,363	$	40.70		57,363		$	104,012,565
August 1, 2026 to August 31, 2026	43,606	$	50.84		43,606	$	101,795,583
September 1, 2026 to September 30, 2026	36,074	$	47.47		36,074	$	100,083,085
Total	137,043	$	45.71		137,043

(1) Average price paid per share and dollar amount of shares purchased under the program includes cash paid for commissions and excise tax.

(2) In October 2025, our Board of Directors authorized a $150.0 million share repurchase program with no expiration.

Item 5. Other Information

Rule 10b5-1 Director and Officer Trading Arrangements

During the quarter ended September 30, 2026, none of the members of our Board of Directors or officers adopted, modified or terminated a \"Rule 10b5-1 trading arrangement\" or \"non-Rule 10b5-1 trading arrangement\", as each term is defined in Item 408 of Regulation S-K.

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Item 6. Exhibits


Exhibit Index

Exhibit No.	Description of Exhibit


31.1*	Certification of Patrick J. Beyer pursuant to Rule 13a-14(a) and Rule 15d-14(a) of the Securities Exchange Act, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2*	Certification of John E. Gallagher pursuant to Rule 13a-14(a) or Rule 15d-14(a) of the Securities Exchange Act, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32.1*	Certifications of Patrick J. Beyer and John E. Gallagher pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101.INS*	XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.

101.SCH*	XBRL Taxonomy Extension Schema Document

101.CAL*	XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF*	XBRL Taxonomy Extension Definition Linkbase Document

101.LAB*	XBRL Taxonomy Extension Label Linkbase Document

101.PRE*	XBRL Taxonomy Extension Presentation Linkbase Document

104*	Cover Page - Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document (included in Exhibit 101)

*	Filed herewith

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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized on the date indicated below.


		CONMED CORPORATION



		By: /s/ John E. Gallagher
		John E. Gallagher
		Executive Vice President, Finance & Chief Financial Officer

		Date:
		October 28, 2026

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