What Globus Medical, Inc. told the SEC could break it.

Sales of Globus's Musculoskeletal Solutions products depend on adequate coverage and reimbursement from third-party payors, including Medicare, Medicaid, workers' compensation and private insurers — a dynamic risk contingent on coding and payment decisions.

“Maintaining and growing sales of our products depends on the availability of adequate coverage and reimbursement from third-party payors, including government programs such as Medicare and Medicaid, private insurance plans and managed care programs.”

A universal 10% baseline plus country-specific U.S. tariffs created cost/volatility risk; the Feb 20, 2026 SCOTUS ruling struck down many tariffs but not all, and future tariffs remain possible — though Globus's exposure is limited as substantially all of its suppliers manufacture in the U.S.

“On February 20, 2026, the U.S. Supreme Court held that the U.S. administration's imposition of many such tariffs was unlawful, striking down the 10% tariff, as well as the higher tariffs imposed on certain U.S. partners, including, among others, Canada, Mexico, and China. The U.S. Supreme Court's ruling did not affect all of the recently imposed tariffs. Nor does it prohibit the imposition of future tariffs through alternative trade authorities available to the U.S.”

Globus works with a limited number of suppliers for certain components of its Enabling Technologies and IONM platforms and is still developing redundancies for critical components in those supply chains.

“We also work with a limited number of suppliers for certain components of our Enabling Technologies and IONM platforms and continue to develop redundancies for critical components within those supply chains.”

Globus relies on several tissue banks for allograft tissue implants (incl. Osteocel Plus/Pro); limited sources and government regulation of tissue recovery and screening could restrict procurement and use of donor tissue.

“We currently rely on several tissue banks as suppliers of allograft tissue implants, including for our Osteocel Plus and Osteocel Pro product lines.”

International operations account for ~19.4% of total net sales, exposing Globus to currency exchange rate fluctuations on international transactions and translation of local-currency results into U.S. dollars.

“We are subject to risks arising from currency exchange rate fluctuations on our international transactions and translation of local currency results into U.S. dollars, which could adversely affect our profitability. International operations account for approximately 19.4% of our total net sales, and we intend to continue to expand our international presence.”