TNB Tech Minute: Trump Aides Find Most SpaceX Contracts Vital - Tech News Briefing
This transcript was prepared by a transcription service. This version may not be in its final form and may be updated.
Charlotte Gartenberg: Here's your TNB Tech Minute for Monday, July 21st. I'm Charlotte Gartenberg for the Wall Street Journal. We are exclusively reporting that the Trump administration reviewed SpaceX's government contracts after a feud between the President and the rocket-maker's billionaire founder Elon Musk. That's according to people familiar with the matter. Officials discussed ending some of the company's multi-billion dollar agreements with the government, but found most were vital to the Defense Department and NASA. A White House official said the review of government contracts focused on a range of government companies with lucrative government contracts. Musk and SpaceX didn't respond to requests for comment. In April, Amazon.com said it would hold the line on prices. The Journal's analysis of prices from e-commerce data firm Traject Data found that Amazon's prices rose on 1,200 of its cheapest household goods while competitor Walmart lowered prices on the same items by nearly 2%. The divergent strategies show how major retailers are reshaping prices on popular products as uncertainty about tariffs drags on. Amazon said the products tracked by the Journal weren't representative of the company's prices overall. Manufacturers of several of the products that became more expensive on Amazon say they haven't raised the prices they charge retailers. And finally, some NASA employees fear changes rippling through the agency will undermine safety during human space missions. Nearly 300 people, including former employees of the National Aeronautics and Space Administration put that concern in a letter to the agency's acting leader, Sean Duffy, saying that a lack of free-flowing discussions could erode safe crew operations. The letter references the Columbia disaster in 2003 that killed seven crew members urges the agency to avoid repeating past communication failures and highlights internal policy directives, supporting open discussions and alternative viewpoints within NASA. And that's a wrap on your TNB Tech Minute. For a deeper dive into what's happening in tech, check out our Tech News Briefing Podcast on Tuesdays and Fridays.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
4 minutes ago
- Yahoo
AT&T's bundled plans spur subscriber surge, tax savings to fund fiber expansion
(Reuters) -AT&T beat quarterly profit estimates and added more wireless subscribers than expected as customers flocked to its discounted bundles combining 5G mobile and high-speed fiber plans. The U.S. telecom giant added 401,000 net monthly bill-paying wireless phone subscribers in the second quarter, it said on Wednesday, flying past FactSet estimates of 295,700. Rival Verizon lost 9,000 customers during the same period. AT&T also disclosed plans to invest about $3.5 billion from savings unlocked by the Trump administration's new tax law to accelerate its fiber network build-out, a critical growth area as the wireless market saturates and internet usage surges. The tax law allows companies to immediately write off the full cost of certain new equipment and boosted annual forecast at Verizon on Tuesday. Savings from the law could help wireless carriers better challenge broadband giant Comcast, which has also been making inroads into wireless. AT&T expects to save $6.5 billion to $8 billion in cash taxes through 2027 under the new tax reforms, and now projects free cash flow to be about $1 billion higher than previously forecast for both 2026 and 2027. The company added 243,000 fiber customers. AT&T said it expects the acquisition of Lumen's mass markets fiber business, set to close in the first half of 2026, to propel it to more than 60 million fiber locations by the end of 2030. It reported revenue of $30.8 billion, beating estimates of $30.50 billion, according to data compiled by LSEG. Adjusted earnings per share of 54 cents also surpassed expectations of 51 cents. Mobility revenue grew 6.7%, driven by subscriber gains and higher wireless device sales volumes.
Yahoo
4 minutes ago
- Yahoo
Wintrust Financial Second Quarter 2025 Earnings: Beats Expectations
Wintrust Financial (NASDAQ:WTFC) Second Quarter 2025 Results Key Financial Results Revenue: US$648.1m (up 18% from 2Q 2024). Net income: US$188.5m (up 30% from 2Q 2024). Profit margin: 29% (up from 26% in 2Q 2024). The increase in margin was driven by higher revenue. EPS: US$2.82 (up from US$2.35 in 2Q 2024). Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. All figures shown in the chart above are for the trailing 12 month (TTM) period Wintrust Financial Revenues and Earnings Beat Expectations Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 7.0%. Looking ahead, revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Banks industry in the US. Performance of the American Banks industry. The company's shares are up 5.5% from a week ago. Balance Sheet Analysis While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We've done some analysis and you can see our take on Wintrust Financial's balance sheet. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Erreur lors de la récupération des données Connectez-vous pour accéder à votre portefeuille Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données
Yahoo
4 minutes ago
- Yahoo
Boston Scientific announces results for second quarter 2025
MARLBOROUGH, Mass., July 23, 2025 /PRNewswire/ -- Boston Scientific Corporation (NYSE: BSX) generated net sales of $5.061 billion during the second quarter of 2025, growing 22.8 percent on a reported basis, 21.6 percent on an operational1 basis and 17.4 percent on an organic2 basis, all compared to the prior year period. The company reported GAAP net income attributable to Boston Scientific common stockholders of $797 million or $0.53 per share (EPS), compared to $324 million or $0.22 per share a year ago, and achieved adjusted3 EPS of $0.75 for the period, compared to $0.62 a year ago. "This was another excellent quarter — marked by exceptional top-line performance — that delivered margin expansion and prioritized investment for future growth," said Mike Mahoney, chairman and chief executive officer, Boston Scientific. "I am incredibly grateful to our dedicated global team for demonstrating clinical and commercial excellence across the company and positioning us for differentiated long-term performance." Second quarter financial results and recent developments: Reported net sales of $5.061 billion, representing an increase of 22.8 percent on a reported basis, compared to the company's guidance range of 17.5 to 19.5 percent; 21.6 percent on an operational basis; and 17.4 percent on an organic basis, compared to the company's guidance range of 13 to 15 percent, all compared to the prior year period. Reported GAAP net income attributable to Boston Scientific common stockholders of $0.53 per share, compared to the company's guidance range of $0.45 to $0.47 per share, and achieved adjusted EPS of $0.75 per share, compared to the guidance range of $0.71 to $0.73 per share. Achieved the following net sales growth in each reportable segment, compared to the prior year period: MedSurg: 15.7 percent reported, 14.7 percent operational and 7.0 percent organic Cardiovascular: 26.8 percent reported, 25.5 percent operational and 23.2 percent organic Achieved the following net sales growth in each region, compared to the prior year period: United States (U.S.): 30.7 percent reported and operational Europe, Middle East and Africa (EMEA): 6.8 percent reported and 1.8 percent operational Asia-Pacific (APAC): 18.0 percent reported and 15.4 percent operational Latin America and Canada (LACA): 4.0 percent reported and 8.9 percent operational Emerging Markets4: 11.6 percent reported and 12.1 percent operational Received U.S. Food and Drug Administration approval to expand instructions for use labeling to include the treatment of drug refractory, symptomatic persistent atrial fibrillation (AF) with the FARAPULSE™ Pulsed Field Ablation (PFA) System. Commenced enrollment in the ReMATCH IDE clinical trial to evaluate the safety and effectiveness of the FARAWAVE™ and FARAPOINT™ PFA Catheters in patients with persistent AF who previously received a cardiac ablation and experienced a recurrence of the condition.5 Received CE mark for the WATCHMAN FLX™ Pro Left Atrial Appendage Closure Device, which is optimized for healing and designed to improve visualization during device placement and treat a broader range of patient anatomies. Completed the acquisition of Intera Oncology® Inc., a medical device company that provides the Intera 3000 Hepatic Artery Infusion Pump and floxuridine, a chemotherapy drug. Completed the acquisition of SoniVie Ltd., the developer of the TIVUS™ Intravascular Ultrasound System, an investigational renal nerve denervation technology designed to treat hypertension.5 1. Operational net sales growth excludes the impact of foreign currency fluctuations. 2. Organic net sales growth excludes the impact of foreign currency fluctuations and net sales attributable to certain acquisitions and divestitures for which there are less than a full period of comparable net sales. 3. Adjusted EPS excludes the impacts of certain charges (credits) which may include amortization expense, goodwill and other intangible asset impairment charges, acquisition/divestiture-related net charges (credits), investment portfolio net losses (gains) and impairments, restructuring and restructuring-related net charges (credits), certain litigation-related net charges (credits), European Union (EU) Medical Device Regulation (MDR) implementation costs, debt extinguishment net charges, deferred tax expenses (benefits) and certain discrete tax items. 4. Our Emerging Markets countries include all countries except the United States, Western and Central Europe, Japan, Australia, New Zealand and Canada. 5. The FARAPOINT PFA Catheter and the TIVUS Intravascular Ultrasound System are investigational devices. Restricted by Federal law to investigational use only. Not available for sale in the U.S. Net sales for the second quarter by business and region:Increase/(Decrease) Three Months Ended June 30,Reported BasisImpact of Foreign Currency FluctuationsOperational BasisImpact of Certain Acquisitions/DivestituresOrganic Basis (in millions) 2025 2024 Endoscopy $ 737 $ 6769.1 %(1.3) %7.8 %— %7.8 % Urology 676 52528.9 %(0.8) %28.0 %(21.7) %6.3 % Neuromodulation 303 2827.2 %(0.6) %6.6 %— %6.6 %MedSurg 1,716 1,48315.7 %(1.0) %14.7 %(7.7) %7.0 % Cardiology 2,647 2,04729.3 %(1.4) %27.9 %— %27.9 % Peripheral Interventions 698 59018.3 %(1.1) %17.1 %(10.2) %7.0 %Cardiovascular 3,345 2,63726.8 %(1.3) %25.5 %(2.3) %23.2 % Net Sales $ 5,061 $ 4,12022.8 %(1.2) %21.6 %(4.2) %17.4 % Increase/(Decrease)Three Months Ended June 30,Reported BasisImpact of Foreign Currency FluctuationsOperational Basis(in millions)20252024 U.S.$ 3,224$ 2,46630.7 %— %30.7 %EMEA8788226.8 %(5.0) %1.8 %APAC79067018.0 %(2.6) %15.4 %LACA1691624.0 %4.9 %8.9 %Net Sales$ 5,061$ 4,12022.8 %(1.2) %21.6 % Emerging Markets4$ 758$ 68011.6 %0.5 %12.1 %Amounts may not add due to rounding. Growth rates are based on actual, non-rounded amounts and may not recalculate precisely.Net sales growth rates that exclude the impact of foreign currency fluctuations and/or the impact of certain acquisitions/divestitures are not prepared in accordance with U.S. GAAP. Guidance for Full Year and Third Quarter 2025 The company estimates net sales growth for the full year 2025, versus the prior year period, to be approximately 18 to 19 percent on a reported basis and 14 to 15 percent on an organic basis. Full year organic net sales guidance excludes the impact of foreign currency fluctuations and net sales attributable to certain acquisitions and divestitures for which there are less than a full period of comparable net sales. The company estimates EPS on a GAAP basis in a range of $1.89 to $1.93 and estimates adjusted EPS, excluding certain charges (credits), of $2.95 to $2.99. The company estimates net sales growth for the third quarter of 2025, versus the prior year period, to be in a range of approximately 17 to 19 percent on a reported basis, and 12 to 14 percent on an organic basis. Third quarter organic net sales guidance excludes the impact of foreign currency fluctuations and net sales attributable to certain acquisitions and divestitures for which there are less than a full period of comparable net sales. The company estimates EPS on a GAAP basis in a range of $0.44 to $0.46 and estimates adjusted EPS, excluding certain charges (credits), of $0.70 to $0.72. Conference Call InformationBoston Scientific management will be discussing these results with analysts on a conference call today at 8:00 a.m. ET. The company will webcast the call to interested parties through its website: Please see the website for details on how to access the webcast. The webcast will be available for approximately one year on the Boston Scientific website. About Boston ScientificBoston Scientific transforms lives through innovative medical technologies that improve the health of patients around the world. As a global medical technology leader for more than 45 years, we advance science for life by providing a broad range of high-performance solutions that address unmet patient needs and reduce the cost of healthcare. Our portfolio of devices and therapies helps physicians diagnose and treat complex cardiovascular, respiratory, digestive, oncological, neurological and urological diseases and conditions. Learn more at and connect on LinkedIn and X. Cautionary Statement Regarding Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by words like "anticipate," "expect," "project," "believe," "plan," "estimate," "may," "intend" and similar words. These forward-looking statements are based on our beliefs, assumptions and estimates using information available to us at the time and are not intended to be guarantees of future events or performance. These forward-looking statements include, among other things, statements regarding our expected net sales; reported, operational and organic revenue growth rates; reported and adjusted EPS for the third quarter and full year 2025; our financial performance; acquisitions; clinical trials; our business plans and product performance; and new and anticipated product approvals and launches. If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by our forward-looking statements. These factors, in some cases, have affected and in the future (together with other factors) could affect our ability to implement our business strategy and may cause actual results to differ materially from those contemplated by the statements expressed in this press release. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements. Risks and uncertainties that may cause such differences include, among other things: economic conditions, including the impact of foreign currency fluctuations; future U.S. and global political, competitive, reimbursement and regulatory conditions, including changing trade and tariff policies; geopolitical events; manufacturing, distribution and supply chain disruptions and cost increases; disruptions caused by cybersecurity events; disruptions caused by public health emergencies or extreme weather or other climate change-related events; labor shortages and increases in labor costs; variations in outcomes of ongoing and future clinical trials and market studies; new product introductions; expected procedural volumes; the closing and integration of acquisitions; demographic trends; intellectual property; litigation; financial market conditions; the execution and effect of our business strategy, including our cost-savings and growth initiatives; and future business decisions made by us and our competitors. New risks and uncertainties may arise from time to time and are difficult to predict accurately and many of them are beyond our control. For a further list and description of these and other important risks and uncertainties that may affect our future operations, see Part I, Item 1A - Risk Factors in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, which we may update in Part II, Item 1A - Risk Factors in Quarterly Reports on Form 10-Q we have filed or will file hereafter. We disclaim any intention or obligation to publicly update or revise any forward-looking statements to reflect any change in our expectations or in events, conditions, or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements, except as required by law. This cautionary statement is applicable to all forward-looking statements contained in this press release. Note: Amounts reported in millions within this press release are computed based on the amounts in thousands. As a result, the sum of the components reported in millions 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. Use of Non-GAAP Financial InformationA reconciliation of the company's non-GAAP financial measures to the corresponding GAAP measures, and an explanation of the company's use of these non-GAAP financial measures, is included in the exhibits attached to this press release. CONTACT: Media: Emily AndersonInvestors: Lauren Tengler617-515-2000 (office) 508-683-4479 (office)Media Relations Investor RelationsBoston Scientific Corporation Boston Scientific BSXInvestorRelations@ BOSTON SCIENTIFIC CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended June 30,Six Months Ended June 30, (in millions, except per share data) 2025 20242025 2024 Net sales $ 5,061 $ 4,120$ 9,724 $ 7,977 Cost of products sold 1,637 1,2703,090 2,479 Gross profit 3,424 2,8506,633 5,498 Operating expenses:Selling, general and administrative expenses 1,716 1,4463,312 2,810 Research and development expenses 526 383969 749 Royalty expense 14 928 19 Amortization expense 225 213444 427 Intangible asset impairment charges 46 27646 276 Contingent consideration net expense (benefit) (5) 20 18 Restructuring net charges (credits) 83 193 52,605 2,3304,894 4,303 Operating income (loss) 819 5201,740 1,195 Other income (expense):Interest expense (90) (77)(172) (146) Other, net 213 (23)179 (21) Income (loss) before income taxes 941 4201,746 1,028 Income tax expense (benefit) 146 98279 213 Net income (loss) 795 3221,467 815 Net income (loss) attributable to noncontrolling interests (2) (2)(4) (4) Net income (loss) attributable to Boston Scientific common stockholders $ 797 $ 324$ 1,471 $ 819 Net income (loss) per common share - basic $ 0.54 $ 0.22$ 0.99 $ 0.56 Net income (loss) per common share - diluted $ 0.53 $ 0.22$ 0.98 $ 0.55 Weighted-average shares outstandingBasic 1,479.9 1,470.61,478.5 1,469.5 Diluted 1,493.5 1,484.21,493.3 1,483.0Amounts may not add due to rounding. BOSTON SCIENTIFIC CORPORATION NON-GAAP NET INCOME AND NET INCOME PER SHARE RECONCILIATIONS (Unaudited) Three Months Ended June 30, 2025 (in millions, except per share data) Gross Profit Operating Expenses Operating Income (Loss) Other Income (Expense) Income(Loss) Before Income Taxes Net Income (Loss) Net Income (Loss) Attributable to Noncontrolling Interests Net Income (Loss) Attributable to Boston Scientific Common Stockholders Impact per Share Reported $ 3,424 $ 2,605 $ 819 $ 122 $ 941 $ 795 $ (2) $ 797 $ 0.53 Non-GAAP adjustments:Amortization expense — (225) 225 — 225 193 2 191 0.13 Goodwill and other intangible asset impairment charges — (46) 46 — 46 37 — 37 0.02 Acquisition/divestiture-related net charges (credits) 46 (92) 138 (230) (92) (92) — (92) (0.06) Restructuring and restructuring-related net charges (credits) 37 (124) 161 — 161 142 — 142 0.10 Investment portfolio net losses (gains) and impairments — — — (2) (2) (2) — (2) (0.00) EU MDR implementation costs 7 (3) 10 — 10 9 — 9 0.01 Deferred tax expenses (benefits) — — — — — 45 — 45 0.03 Discrete tax items — — — — — 0 — 0 0.00 Adjusted $ 3,514 $ 2,114 $ 1,399 $ (110) $ 1,289 $ 1,127 $ 0 $ 1,127 $ 0.75 Three Months Ended June 30, 2024 (in millions, except per share data) Gross Profit Operating Expenses Operating Income Loss) Other Income (Expense) Income (Loss) Before Income Taxes Net Income (Loss) Net Income (Loss) Attributable to Noncontrolling Interests Net Income (Loss) Attributable to Boston Scientific Common Stockholders Impact per Share Reported $ 2,850 $ 2,330 $ 520 $ (100) $ 420 $ 322 $ (2) $ 324 $ 0.22 Non-GAAP adjustments:Amortization expense — (213) 213 — 213 184 2 182 0.12 Goodwill and other intangible asset impairment charges — (276) 276 — 276 243 — 243 0.16 Acquisition/divestiture-related net charges (credits) 11 (37) 48 1 49 38 — 38 0.03 Restructuring and restructuring-related net charges (credits) 30 (20) 50 — 50 44 — 44 0.03 Investment portfolio net losses (gains) and impairments — — — 31 31 29 — 29 0.02 EU MDR implementation costs 8 (4) 12 — 12 10 — 10 0.01 Deferred tax expenses (benefits) — — — — — 44 — 44 0.03 Adjusted $ 2,899 $ 1,780 $ 1,119 $ (68) $ 1,051 $ 913 $ (0) $ 914 $ 0.62 An explanation of the company's use of these non-GAAP financial measures is provided at the end of this document. Amounts may not add due to rounding. BOSTON SCIENTIFIC CORPORATION NON-GAAP NET INCOME AND NET INCOME PER SHARE RECONCILIATIONS (Unaudited) Six Months Ended June 30, 2025 in millions, except per share data Gross Profit Operating Expenses Operating Income (Loss) Other Income (Expense) Income (Loss) Before Income Taxes Net Income (Loss) Net Income (Loss) Attributable to Noncontrolling Interests Net Income (Loss) Attributable to Boston Scientific Common Stockholders Impact per Share Reported $ 6,633 $ 4,894 $ 1,740 $ 6 $ 1,746 $ 1,467 $ (4) $ 1,471 $ 0.98 Non-GAAP adjustments:Amortization expense — (444) 444 — 444 383 4 378 0.25 Goodwill and other intangible asset impairment charges — (46) 46 — 46 37 — 37 0.02 Acquisition/divestiture-related net charges (credits) 136 (150) 286 (229) 57 61 — 61 0.04 Restructuring and restructuring-related net charges (credits) 61 (149) 210 — 210 184 — 184 0.12 Investment portfolio net losses (gains) and impairments — — — 6 6 5 — 5 0.00 EU MDR implementation costs 15 (7) 23 — 23 19 — 19 0.01 Deferred tax expenses (benefits) — — — — — 91 — 91 0.06 Discrete tax items — — — — — 0 — 0 0.00 Adjusted $ 6,846 $ 4,097 $ 2,749 $ (216) $ 2,533 $ 2,249 $ 1 $ 2,248 $ 1.51 Six Months Ended June 30, 2024 in millions, except per share data Gross Profit Operating Expenses Operating Income (Loss) Other Income (Expense) Income(Loss) Before Income Taxes Net Income (Loss) Net Income (Loss) Attributable to Noncontrolling Interests Net Income(Loss) Attributable to Boston Scientific Common Stockholders Impact per Share Reported $ 5,498 $ 4,303 $ 1,195 $ (167) $ 1,028 $ 815 $ (4) $ 819 $ 0.55 Non-GAAP adjustments:Amortization expense — (427) 427 — 427 369 4 364 0.25 Goodwill and other intangible asset impairment charges — (276) 276 — 276 243 — 243 0.16 Acquisition/divestiture-related net charges (credits) 22 (90) 112 0 112 115 — 115 0.08 Restructuring and restructuring-related net charges (credits) 55 (42) 97 — 97 84 — 84 0.06 Investment portfolio net losses (gains) and impairments — — — 18 18 18 — 18 0.01 EU MDR implementation costs 17 (8) 26 — 26 22 — 22 0.01 Deferred tax expenses (benefits) — — — — — 81 — 81 0.05 Adjusted $ 5,592 $ 3,461 $ 2,131 $ (148) $ 1,983 $ 1,746 $ 1 $ 1,745 $ 1.18 An explanation of the company's use of these non-GAAP financial measures is provided at the end of this document. Amounts may not add due to rounding. BOSTON SCIENTIFIC CORPORATION Q3 and FY 2025 GUIDANCE RECONCILIATIONS (Unaudited) Net Sales Q3 2025 EstimateFull Year 2025 Estimate(Low) (High)(Low) (High) Reported growth 17.0 % 19.0 %18.0 % 19.0 % Impact of foreign currency fluctuations (0.5) % (0.5) %(0.5) % (0.5) % Operational growth 16.5 % 18.5 %17.5 % 18.5 % Impact of certain acquisitions/divestitures (4.5) % (4.5) %(3.5) % (3.5) % Organic growth 12.0 % 14.0 %14.0 % 15.0 % Earnings per Share Q3 2025 EstimateFull Year 2025 Estimate(Low) (High)(Low) (High) GAAP results $ 0.44 $ 0.46$ 1.89 $ 1.93 Amortization expense 0.14 0.140.52 0.52 Acquisition/divestiture-related net charges (credits) 0.04 0.040.11 0.11 Restructuring and restructuring-related net charges (credits) 0.05 0.050.24 0.24 Other adjustments 0.04 0.040.18 0.18 Adjusted results $ 0.70 $ 0.72$ 2.95 $ 2.99 Amounts may not add due to rounding. Use of Non-GAAP Financial Measures To supplement our unaudited consolidated financial statements presented on a GAAP basis, we disclose certain non-GAAP financial measures, including adjusted net income (loss), adjusted net income (loss) attributable to Boston Scientific common stockholders and adjusted net income (loss) per share (EPS) that exclude certain charges (credits); operational net sales, which exclude the impact of foreign currency fluctuations; and organic net sales, which exclude the impact of foreign currency fluctuations as well as the impact of certain acquisitions and divestitures with less than a full period of comparable net sales. These non-GAAP financial measures are not in accordance with generally accepted accounting principles in the United States and should not be considered in isolation from or as a replacement for the most directly comparable GAAP financial measures. Further, other companies may calculate these non-GAAP financial measures differently than we do, which may limit the usefulness of those measures for comparative purposes. To calculate adjusted net income (loss), adjusted net income (loss) attributable to Boston Scientific common stockholders and adjusted net income (loss) per share, we exclude certain charges (credits) from GAAP net income and GAAP net income attributable to Boston Scientific common stockholders, which include amortization expense, goodwill and other intangible asset impairment charges, acquisition/divestiture-related net charges (credits), investment portfolio net losses (gains) and impairments, restructuring and restructuring-related net charges (credits), certain litigation-related net charges (credits), EU MDR implementation costs, debt extinguishment net charges, deferred tax expenses (benefits) and certain discrete tax items. Amounts are presented after-tax using the company's effective tax rate, unless the amount is a significant unusual or infrequently occurring item in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 740-270-30, "General Methodology and Use of Estimated Annual Effective Tax Rate." In addition to the explanation below, please refer to Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission or Part I, Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations in any Quarterly Report on Form 10-Q that we have filed or will file thereafter for an explanation of each of these adjustments and the reasons for excluding each item. The following is an explanation of each incremental or revised adjustment type, since our most recent Annual Report on Form 10-K, that management excluded as part of these non-GAAP financial measures as well as the reason for excluding each item: Restructuring and restructuring-related net charges (credits) - These adjustments primarily represent severance and other compensation-related charges, fixed asset write-offs, contract cancellations, project management fees, facility shut down costs, costs to transfer manufacturing lines between geographically dispersed facilities and other direct costs associated with our restructuring plans. These restructuring plans each consist of distinct initiatives that are fundamentally different from our ongoing, core cost reduction initiatives in terms of, among other things, the frequency with which each action is performed and the required planning, resourcing, cost and timing. Examples of such initiatives include the movement of business activities, facility consolidations and closures and the transfer of product lines between manufacturing facilities, which, due to the highly regulated nature of our industry, requires a significant investment in time and cost to create duplicate manufacturing lines, run product validations and seek regulatory approvals. Restructuring plans take place over a defined timeframe and have a distinct project timeline that requires, and begins subsequent to, approval by our Board of Directors. In contrast to our ongoing cost reduction initiatives, restructuring plans typically result in duplicative cost and exit costs over the defined timeframe and are not considered part of our core, ongoing operations. In addition, during the second quarter of 2025, we incurred restructuring and restructuring-related net charges associated with management's decision to discontinue worldwide sales of the ACURATE neo2TM and ACURATE PrimeTM Aortic Valve Systems. These restructuring plans and activities are incremental to the core activities that arise in the ordinary course of our business. Restructuring and restructuring-related net charges (credits) are excluded from management's assessment of operating performance and from our operating segments' measures of profit and loss used for making operating decisions and assessing performance. The GAAP financial measures most directly comparable to adjusted net income (loss), adjusted net income (loss) attributable to Boston Scientific common stockholders and adjusted net income (loss) per share are GAAP net income (loss), GAAP net income (loss) attributable to Boston Scientific common stockholders and GAAP net income (loss) per common share – diluted, respectively. To calculate operational net sales growth rates, which exclude the impact of foreign currency fluctuations, we convert actual net sales from local currency to U.S. dollars using constant foreign currency exchange rates in the current and prior periods. To calculate organic net sales growth rates, we also remove the impact of certain acquisitions and divestitures with less than a full period of comparable net sales. The GAAP financial measure most directly comparable to operational net sales and organic net sales is net sales reported on a GAAP basis. Reconciliations of each of these non-GAAP financial measures to the corresponding GAAP financial measure are included in the accompanying schedules. Management uses these supplemental non-GAAP financial measures to evaluate performance period over period, to analyze the underlying trends in our business, to assess our performance relative to our competitors and to establish operational goals and forecasts that are used in allocating resources. In addition, management uses these non-GAAP financial measures to further its understanding of the performance of our operating segments. The adjustments excluded from our non-GAAP financial measures are consistent with those excluded from our operating segments' measures of net sales and profit or loss. These adjustments are excluded from the segment measures reported to our chief operating decision maker that are used to make operating decisions and assess performance. We believe that presenting adjusted net income (loss), adjusted net income (loss) attributable to Boston Scientific common stockholders, adjusted net income (loss) per share, operational net sales growth rates and organic net sales growth rates, in addition to the corresponding GAAP financial measures, provides investors greater transparency to the information used by management for its operational decision-making and allows investors to see our results "through the eyes" of management. We further believe that providing this information assists our investors in understanding our operating performance and the methodology used by management to evaluate and measure such performance. View original content to download multimedia: SOURCE Boston Scientific Corporation Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
