Edwards Lifesciences — Feb 10, 2026 release

Additional Financial Results For the quarter, the gross profit margin was 78.1%, or 78.3% adjusted, compared to 78.9%, or 79.0% adjusted, in the same period last year. The company continues to expect its full-year 2026 adjusted gross profit margin to be between 78% and 79%. Selling, general and administrative expenses in the fourth quarter were $603 million, or 38.4% of sales, compared to 35.5% of sales in the prior year. This increase funded strategic investments to amplify patient access to therapy. Some of this strategic spending was delayed from previous quarters in the year. Research and development expenses in the fourth quarter were $268 million, or 17.1% of sales, compared to 19.6% in the prior year. The company continues to expect its full-year 2026 R&D as a percentage of sales to be approximately 17%. Operating profit margin in the fourth quarter of 9.6%, or 23.7% adjusted, was in line with the company’s previous guidance of mid-20% for the quarter. Adjusted EPS was $0.58, which also included a higher-than-expected tax rate for the quarter. In 2026, Edwards expects full-year operating profit margin at the high end of the original 28% to 29% guidance range. Cash and cash equivalents were approximately $3.0 billion as of Dec. 31, 2025. Total debt was approximately $600 million. Outlook Edwards has increased confidence in meeting its 2026 sales growth rate guidance of 8 to 10% and EPS guidance of $2.90 to $3.05. For the first quarter of 2026,