Company: BSX
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000885725-25-000050
Chunk: 170

Company: BOSTON SCIENTIFIC CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 170
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 the ultimate impact of which will depend on various factors, including the timing, scope, duration and nature of any tariffs, any other trade restrictions or opportunities to mitigate such impacts. In addition, geopolitical developments and uncertainties, including related to various ongoing global conflicts and tensions, may create economic, supply chain, transportation, energy, and other challenges, including disruptions to business operations, which could negatively impact our business and results of operations. 

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Table of Contents

Gross Profit 

Our Gross profit was $3.542 billion and $10.175 billion for the third quarter and first nine months of 2025, respectively, and $2.897 billion and $8.395 billion for the third quarter and first nine months of 2024, respectively. The following is a reconciliation of our gross profit margin and a description of the drivers of the changes from period to period:

Percentage of Net SalesThree MonthsNine MonthsGross profit margin - period ended September 30, 202468.8%68.9%Sales pricing, volume and mix1.81.8All other, including inventory charges and other period expenses(0.7)(1.9)Gross profit margin - period ended September 30, 202569.9%68.8%

In the third quarter of 2025, the primary factors that impacted gross profit margin were increased sales of higher margin products, partially offset by increased levels of tariffs and other period expenses. In the first nine months of 2025, the primary factors that impacted gross profit margin were inventory charges of approximately $90 million resulting from the global discontinuation of the ACURATE platform, increased levels of tariffs and other period expenses, partially offset by increased sales of higher margin products.

Operating Expenses 

The following table provides a summary of our key operating expenses:

 Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024(in millions)$% of Net Sales$% of Net Sales$% of Net Sales$% of Net SalesSelling, general and administrative expenses$1,741 34.4 %$1,562 37.1 %$5,053 34.2 %$4,372 35.9 %Research and development expenses514 10.1 %407 9.7 %1,483 10.0 %1,156 9.5 %

Selling, General and Administrative (SG&A) Expenses

During the third quarter of