Financial Performance
Medacta Group reported first‑half 2026 revenue of €368 million, representing a 9.7% increase on a constant‑currency basis. This figure fell short of the consensus estimate of €373 million, representing a 1% miss, and was below the company’s own expectation of 11.5% growth.
Regional Performance
Revenue growth varied by geography. The Asia‑Pacific region expanded 13.1% on a constant‑currency basis, while Europe, the Middle East and Africa grew 10.0%. Latin America posted the strongest regional increase at 16.4%. North America, however, grew only 6.6% on a constant‑currency basis, marking the weakest performance among the major regions. Management attributed the slowdown in the United States primarily to a sales transition within the Spine business and noted a softening in the existing customer base for the Joints category.
Product Category Performance
By product line, the Hips segment grew 8.1% on a constant‑currency basis, close to the consensus estimate of 8.6%. The Knees segment expanded 10.8%, falling short of the 14.0% estimate. Spine revenue increased 4.5%, versus a 7.7% consensus forecast. Shoulder and Sports Medicine saw a 15.9% rise, considerably below the 25.0% expected by analysts.
Outlook and Guidance
Medacta reaffirmed its full‑year guidance for constant‑currency revenue growth of 10% to 14% and a constant‑currency adjusted EBITDA margin expansion of 50 basis points. To achieve the midpoint of the revenue guidance range, the company would need approximately 14.3% growth in the second half of the year on a constant‑currency basis.