Edwards Lifesciences said net sales for Q1 2025 were $1.4 billion, an increase of $82.8 million compared with Q1 2024, driven primarily by sales of TMTT and TAVR products.

1. 01

   Edwards Lifesciences said net sales for Q1 2025 were $1.4 billion, an increase of $82.8 million compared with Q1 2024, driven primarily by sales of TMTT and TAVR products.

2. 02

   The company said gross profit increased in Q1 2025, and gross profit as a percentage of net sales rose, driven by a 0.4 percentage points impact from foreign currency rate fluctuations, including the settlement of foreign currency hedging contracts.

3. 03

   Edwards Lifesciences said net cash provided by operating activities for Q1 2025 was $280.4 million, an increase of $333.9 million compared with the same period last year, and explained that tax payments in Q1 2024 were $349.2 million, which included a $305.1 million tax deposit.

4. 04

   The company said the IRS notice of deficiency for tax years 2015 through 2017 relating to transfer pricing claimed additional tax of $269.3 million before consideration of interest and a repatriation tax, and explained it plans to vigorously contest the additional tax through the judicial process and made deposits of $305.1 million in March 2024.

Key figures

Quarter ended March 31, 2025

Revenue

$1.4B

Operating income

$395M

Net income

$358M

EPS

$0.61

Gross profit

$1.1B

Operating cash flow

$280M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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