Key Highlights

  • IDEXX Laboratories' Revenue reached $1.214 billion, a 9.9% advance, and the company lifted both its 2026 revenue and EPS outlook.
  • Inspire Medical Systems' sales dropped 7.9% to $206.7 million, and it posted a $24.4 million net loss.
  • SI-BONE's Top Line expanded 14.5% to $55.7 million, while its net loss shrank to $3.6 million.
  • Cerus booked $57.7 million in product revenue, a 10% increase, along with favorable Phase III REDeS topline results.
  • Bioventus generated $142.4 million in net sales and trimmed its 2026 revenue range to $590 million to $595 million.

Medical Technology and Diagnostics Names Posting Q3 2026 Numbers

Medical technology and diagnostics produced five third-quarter 2026 reports: four landed on Nov 2, 2026 and one came on Nov 3, 2026. Revenue growth spanned negative 7.9% to positive 14.5%, while the sizes of the revenue bases differ by more than twentyfold.

IDEXX Laboratories (NASDAQ:IDXX) booked $1.214 billion of revenue, up 9.9%, and $317.1 million of net income. Inspire Medical Systems (NYSE:INSP) collected $206.7 million in revenue, a figure that fell 7.9%, and recorded a $24.4 million net loss. SI-BONE (NASDAQ:SIBN) delivered $55.7 million of revenue, a 14.5% increase, and a $3.6 million net loss.

Cerus (NASDAQ:CERS) generated $57.7 million of product revenue, up 10%, plus roughly $64.0 million of total revenue (calculated), with a net loss under $1 million. Bioventus (NASDAQ:BVS) recorded $142.4 million in net sales and $6.9 million of Net Income for the quarter ended Sep 26, 2026.

Ordering here tracks the group listing rather than any ranking.

IDEXX Laboratories: Recurring Diagnostics Income Backs a Higher Full-Year Outlook

Top-line growth at IDEXX landed at $1.214 billion, compared with $1.105 billion earlier, a 9.9% change. On an organic basis, recurring diagnostics income grew 11%, which equals $967.4 million; net price accounted for close to 4% inside the volume-driven expansion.

Per-share diluted Earnings reached $4.01 (prior: $3.40). Operating Margin moved up to 33.1%, from 32.1%, and the quarter generated $421 million of free cash.

Full-year guidance moved higher: revenue is now $4.741 billion to $4.767 billion, and EPS is $14.96 to $15.16. On Sep 15, 2026, a veterinary software company was acquired for roughly $250 million, with an expected $20 million of contingent consideration included.

Inspire Medical Systems: Billing Uncertainty and Coding Problems Pull Revenue Lower

Revenue lands at $206.7 million, below $224.5 million previously, but still roughly 3% ahead of the second-quarter figure. Leadership blamed uncertainty over billing and reimbursement for its latest device for most of the shortfall, while coding issues were estimated to have taken about $30 million out of the quarter.

Inspire posted a loss of $0.84 per share, or $24.4 million overall, compared with $9.9 million of earnings before. Restructuring costs of $24.1 million and a $7.0 million legal payout were booked among operating expenses, and the adjusted per-share figure reached $0.14.

The 2026 revenue forecast was tightened to a band of $850 million to $860 million, and for 2027 the aim is low single-digit top-line growth. Liquid assets total $453.1 million, and there is no borrowing.

SI-BONE: Procedure Volume Gains Against Operating Expense Growth

Sales for SI-BONE reached $55.7 million, a figure above the $48.7 million of the comparison period (up 14.5%). Procedures in the United States expanded roughly 19.5%, though a smaller average selling price restrained the top line. Leadership linked that pricing pressure to procedure mix and where care takes place.

Spending on operations grew by 9.7%, reaching $48.5 million, a slower clip than sales. The loss was cut by 20.7%, to $3.6 million or $0.08 a share, and adjusted EBITDA came in at $3.0 million.

For 2026 the revenue guide stays at $231 million to $233 million, while projected operating expense growth moved down to roughly 10.5%, from around 12.0%. Guidance for 2027 won't come until late February.

Cerus: Phase III Readout Arrives Alongside a Steady Climb in Product Sales

Product sales reached $57.7 million, against $52.7 million earlier (a 10% rise). Government contract revenue slipped to $6.3 million, versus $7.5 million. Overall revenue came to approximately $64.0 million (calculated), about 6.3% higher (calculated).

The margin on product sales landed at 52.4%, down from 53.4% twelve months prior. Losses attributable to shareholders came to $0.55 million, while adjusted EBITDA hit $5.7 million. Cash plus short-term investments amounted to $57.1 million.

REDeS, a Phase III trial, reached its primary non-inferiority goal in treated red cells. Product revenue guidance for 2026 was kept at $229 million to $231 million, and European clearance for red cells is projected for late 2027.

Bioventus: Lower Bone Graft Sales Trim Guidance Despite Higher Net Income

Bioventus took in $142.4 million of net sales, a 2.7% gain on the $138.7 million base (calculated), and its net income rose to $6.9 million from $4.0 million. Within the portfolio, pain treatments climbed 6% to $71 million, whereas bone graft substitutes lost 6%.

Per-share adjusted earnings rose 13% to $0.17. Adjusted EBITDA totaled $28 million, equal to a 20% margin, and the company repaid $19 million on its term loan, leaving net Debt beneath $200 million.

The revenue outlook for the full year was lowered to $590 million to $595 million, a change largely traced to bone graft substitutes. Adjusted EPS guidance of $0.75 to $0.79 remains intact. Separately, the directors are weighing strategic alternatives in response to an unrequested purchase offer, though specifics were not disclosed.

Peer Math for Medtech: Average Growth of 5.1% and a Wide Margin Gap

Across the five, the mean revenue change was 5.1% (calculated). SI-BONE's 14.5% sits at the top, Inspire Medical Systems' decline at the bottom, a 22.4-point gap (calculated). Summing the five produces revenue of roughly $1,683 million (calculated) and net income near $295 million (calculated).

Scale gaps are large: IDEXX Laboratories books roughly 21.8 times (calculated) SI-BONE's revenue, with a net margin near 26.1% (calculated) compared with 4.8% (calculated) at Bioventus. Losses appeared at three of the five, while the other two were profitable.

Comparability is imperfect. Cerus's growth figure relies on total revenue, Bioventus closed its period on Sep 26, 2026 instead of Sep 30, and Inspire Medical Systems' Deficit carries restructuring and legal items. Outlook changes: IDEXX Laboratories raised, Inspire Medical Systems narrowed, SI-BONE and Cerus held, and Bioventus reduced.

What to Watch Next: Billing Code Start, Year-End Updates and the Bioventus Review

A new Inspire billing code begins Jan 1, 2028, and the firm anticipated the final 2027 hospital outpatient payment rule would appear soon after its call. SI-BONE's fourth-quarter report and 2027 outlook both land in late February; its Granite product payment codes became effective Oct 1, 2026.

Cerus plans a more complete look at REDeS data, and it calls the first half of 2027 a reasonable window for that. European red-cell clearance is also pencilled in for late 2027. Bioventus's strategic process continues, with no date for an outcome in the materials.

The IDEXX materials point to no scheduled event after its raised 2026 guidance.