Q3 2026 Financial and Operational Highlights

Q3 2026 Highlights

October 28, 2026

• Net sales growth:

  • +1.5% reported, operational* and organic* Y/Y

• Earnings per share:

  • As reported: $0.40 vs. $0.51 Q3:25

  • Adjusted*: $0.73 vs. $0.75 Q3:25

• Gross margin:

  • As reported: 66.7%, (320) bps Y/Y

  • Adjusted*: 68.0%, (300) bps Y/Y

• Operating margin:

  • As reported: 16.1%, (460) bps Y/Y

  • Adjusted*: 26.5%, (150) bps Y/Y

• Q4 2026 guidance vs. Q4 2025:

  • As reported net sales decline: (3.0)% - (1.0)%

  • Organic* net sales decline: (3.0)% - (1.0)%

  • Adjusted EPS*: $0.77 - $0.79

• FY 2026 guidance vs. FY 2025:

  • As reported net sales growth: ~4.25%

  • Organic* net sales growth: ~3.75%

  • Adjusted EPS*: $3.16 - $3.18

  • Commenced enrollment in the Elite AF clinical trial to evaluate the safety and effectiveness of the next-generation WATCHMAN Elite™ Left Atrial Appendage Closure Device in patients with non-valvular atrial fibrillation who are eligible for anticoagulation therapy to reduce their risk of stroke and who have a rationale to seek a non-pharmacologic alternative.

  • Received U.S. Food and Drug Administration (FDA) 510(k) clearance for an expanded size offering of the SEISMIQ™ Intravascular Lithotripsy Peripheral Catheter to treat patients with severely calcified peripheral artery disease both above and below the knee.

  • Received U.S. FDA 510(k) clearance for two technologies within the StoneSmart™ Solutions ecosystem, including the Navigator™ Flex Ureteral Access Sheath Set, designed to enable the use of suction to remove kidney stone debris, and the LithoVue™ Elite Single-Use Digital Flexible Ureteroscope with temperature sensing, designed to display realtime fluid temperature alongside ureteroscopy video for procedural monitoring.

  • Recognized the American Medical Association's assignment of Category I Current Procedural Terminology (CPT®) codes for renal denervation devices, such as the investigational TIVUS™ Renal Denervation System, and implantable tibial nerve stimulation (ITNS) devices, including the eCoin® ITNS System, effective January 2028.

  • Entered into a strategic collaboration with Heartflow, Inc. (Nasdaq: HTFL) to advance AI-powered, computed tomography (CT)-guided planning for percutaneous coronary intervention (PCI) procedures and explore integration of Heartflow's PCI Navigator pre-procedural planning tool and the AVVIGO™+ Multi-Modality Guidance System.

Q3 2026 Highlights

NM

$331M

Uro

$661M

Endo

$741M

Cardiovascular

$3.406B

MedSurg 34%

Cardiovascular

$267M

ICVT WM EP CRM IO&E

Cardiovascular 66%

Reported Net Sales by Segment and Business

* Represents operating income as a percentage of operational net sales, both based on internally-derived standard currency exchange rates to exclude the impact of foreign currency, which may be updated from year to year. This measure is reported to the chief operating decision maker (CODM) for purposes of making decisions about allocating resources to the segment and assessing its performance. Prior period adjusted operating margin has been restated at constant currency rates to conform to current year presentation.

• Endoscopy: Global net sales (0.8)% as reported, (0.6)% operational*/organic*

  • Underlying performance was strong, led by AXIOS, with some impacts from China VBP in GI space and the cyber incident.

• Urology: Global net sales (3.2)% as reported, (3.1)% operational*/organic*

  • Performance reflected some impact from the cyber incident as well as expanded pricing pressure in China in our Stone business.

  • In stone management, we received FDA clearance for our Navigator Flex suction sheath, CE mark and FDA clearance for distribution of the

    7.5 Slim scope and FDA clearance for LithoVue Elite single-use digital flexible ureteroscope with temperature sensing.

• Neuromodulation: Global net sales +13.1% as reported, +13.0% operational*/organic*

  • In Pain, growth was broad-based across the portfolio, with exceptional performance with our Nalu PNS technology. In Brain, growth was driven by our Cartesia X lead and Illumina 3D software.

MedSurg Performance Summary

* Represents operating income as a percentage of operational net sales, both based on internally-derived standard currency exchange rates to exclude the impact of foreign currency, which may be updated from year to year. This measure is reported to the CODM for purposes of making decisions about allocating resources to the segment and assessing its performance. Prior period adjusted operating margin has been restated at constant currency rates to conform to current year presentation.

• Cardiovascular: Global net sales +1.9% as reported, operational* and organic*

  • Interventional Cardiology & Vascular Therapies: Global net sales +12.1% as reported, +11.9% operational*/organic*

    • Interventional Cardiology growth of 19% driven by strength in our global imaging franchise and AGENT DCB technology.

    • Vascular Therapies grew 1%, with some impact from the cyber incident as well as TCAR supply constraints as our new manufacturing site ramp was disrupted.

  • Watchman: Global net sales (5.8)% as reported, (5.9)% operational*/organic*

    • Watchman performance impacted by a slowdown in market, primarily driven by changes in patient identification and referral patterns as physicians assess the clinical evidence published over the last year.

  • Electrophysiology: Global net sales (5.7)% as reported, (5.3)% operational*/organic*

    • EP performance impacted to some degree by the cyber incident as well as ongoing pressure in a highly competitive market.

  • Cardiac Rhythm Management: Global net sales (1.6)% as reported, operational* and organic*

    • Diagnostics grew high-single digits, low-voltage declined mid-single-digits and high-voltage declined low-single digits.

    • Overall performance reflected some impact from the cyber incident as we navigated use of technologies that leverage remote monitoring while systems were down.

  • Interventional Oncology & Embolization: Global net sales +5.2% as reported, +4.8% operational*/organic*

    • Growth driven by strong performance in our cancer therapies franchise, partially offset by some supply constraints.

Cardiovascular Performance Summary

Product Approval

Product Approval Expected

Data Release Acquisition

2026

2027E

Cardiovascular

MedSurg

Diversified pipeline and clinical evidence to support sustained innovation and long-term growth

Timeline represents expected launch timing or data presentation. Select product launches and data releases, list is not comprehensive.

1Signed, not yet closed; anticipate closing early 2027.

Key Growth Catalysts

Select new products and data releases

RDN

2025E Market Size

Market Growth

$1B+

2030E

Renal Denervation

Intravascular Lithotripsy

Intracardiac Echocardiography

+DD 2028E

$1B+

+DD

+DD

SEISMIQ™

Peripheral ATK Launch

SEISMIQ™

Peripheral BTK Launch

SEISMIQ™ 4CE

Coronary Launch

2D ICE

THRIVE Data Release

TIVUS™

Launch

Complex Arrhythmias

EXTERNAL

Neurovascular & Thrombectomy

$3B+

+DD

+DD

11%

$7B+

FARADIGM FPI

Expected Close

FARADIGM

Data

FARAFLEX™

Launch

VITALYST™

Approval

TAVR

+HSD

STAR Trial FPI

BSX Investment Announced

SIEGEL™ Valve Launch

1 Signed, not yet closed; anticipate closing early 2027.

2 Investigational device. Limited by Federal Law to investigational use only. Not available for sale.

Timeline represents expected launch timing or data presentation. Select product launches and data releases, list is not comprehensive.

Unlocking Meaningful New Markets

Category leadership in strategic markets

Broad, differentiated portfolio across 8 business units competing in markets growing ~7%

~10%¹ R&D investment | 78 active² clinical trials

Disciplined capital allocation

Balanced across strategic tuck-in M&A, venture investing and opportunistic share repurchase

>45 venture companies | 25% of 50 acquisitions from VC portfolio3

Investing for growth while expanding profitability

Improving weighted average market growth rate (WAMGR) to 7% while delivering double-digit adjusted EPS* growth

~200 bps adj. operating margin* expansion4 | 80% FCF conversion5

BSX reported revenue

~$21B

$11B

$7B

$8B

2012

2016

2019

2026E

WAMGR

~(1%)

~4%

~5%

~7%

Boston Scientific's strategy of category leadership through meaningful innovation supports sustainable long-term growth

¹ Represents GAAP R&D expense as a percentage of GAAP net sales for the year ended December 31, 2025.

² Active clinical trial defined as a clinical trial that existed during the reporting year 2025 with an active subject enrolled.

³ Percent of acquisitions from VC portfolio over the last 15 years

4 Represents growth from the year ended December 31, 2019, to the year ended December 31, 2025.

5 Represents FCF conversion for the year ended December 31, 2025.

Boston Scientific Strategy

2026E Served market of ~$75B with WAMGR of ~7%

SBcoiesntoenfic

Innovative

We shape science into meaningful solutions that help people live longer, better lives.

people

We invest in our people and unite our diverse communities through global collaboration.

Healthier

planet

We confront climate change and protect the environment to enable people to live healthier lives.

Performance with integrity

Governance and compliance | Risk management | Cybersecurity | Responsible supply chain

Q3 2026 Net Sales vs. Q3 2025

Income Statement Information

Non-GAAP Reconciliation

Three Months Ended September 30, 2026 (unaudited)

Working Capital & Cash Flow Metrics

To supplement Boston Scientific's consolidated financial statements presented on a GAAP basis, the Company discloses certain non-GAAP financial measures. These measures are not in accordance with generally accepted accounting principles in the United States.

A reconciliation of these measures to the corresponding GAAP measures follows in the Appendices. In addition, an explanation of the ways in which Boston Scientific management uses these supplemental non-GAAP measures to evaluate its business and the substantive reasons why Boston Scientific management believes that these measures provide useful information to investors is included under "Use of Non-GAAP Financial Measures" in the Company's most recent earnings release filed with the SEC on Form 8-K. This information is not meant to be considered in isolation from or as a substitute for financial information prepared in accordance with GAAP.

Use of Non-GAAP Measures

Appendix A - Net Sales Detail - MedSurg

Three Months Ended September 30, 2026 and 2025

CARDIOVASCULAR SEGMENT:

Interventional Cardiology & Vascular Therapies

Watchman

UNITED STATES $ INTERNATIONAL

WORLDWIDE $ 482 $ 512 (5.8)% (0.1)% (5.9)%

Electrophysiology

Appendix A - Net Sales Detail - Cardiovascular

Three Months Ended September 30, 2026 and 2025

Gross Margin, adjusted 68.0 % 71.0 % (300)

Year Ended December 31,

Operating Margin, adjusted 26.5 % 28.0 % (150)

Appendix B - Statement of Operations

Profitability Margins

(1) There were no applicable acquisitions in the third quarter of 2026 or 2025.

Appendix C - Additional Non-GAAP Reconciliations

Cash provided by (used for) operating activities $ 1,047

Purchases of property, plant and equipment and internal use software (180)

Free Cash Flow $ 867

Estimated Free Cash Flow (in billions) Full Year 2026 Estimate

Cash provided by (used for) operating activities $ ~4.4 Purchases of property, plant and equipment and internal use software (0.8) Free Cash Flow $ ~3.6

Appendix C - Additional Non-GAAP Reconciliations

Appendix C - Additional Non-GAAP Reconciliations

Appendix C - Additional Non-GAAP Reconciliations

Adjusted operating income of reportable segments(1) 545 31.4 % 1,016 29.8 % 1,560 Unallocated amounts:

Corporate expenses, including hedging activities and impact of foreign currency

fluctuations on operating income of reportable segments (196)

Goodwill and other intangible asset impairment charges, acquisition/divestiture-related net charges (credits), restructuring and restructuring-related net charges

(credits), litigation-related net charges (credits) and EU MDR implementation costs (302)

Amortization expense (234)

Operating income (loss), as reported $ 828

(1) Calculated as Net sales of reportable segments less Segment expenses.

Appendix C - Additional Non-GAAP Reconciliations

Corporate expenses, including hedging activities and impact of foreign currency

fluctuations on operating income of reportable segments (299)

Goodwill and other intangible asset impairment charges, acquisition/divestiture-related net charges (credits), restructuring and restructuring-related net charges

(credits), litigation-related net charges (credits) and EU MDR implementation costs (146)

Amortization expense (225)

Operating income (loss), as reported $ 1,048

(1) Calculated as Net sales of reportable segments less Segment expenses.

Appendix C - Additional Non-GAAP Reconciliations

Below-the-line expenses, adjusted $ (124)

Appendix C - Additional Non-GAAP Reconciliations

Appendix C - Additional Non-GAAP Reconciliations

EP U.S. Net Sales Growth

Three Months Ended September 30, 2026

EP International Net Sales Growth

Three Months Ended September 30, 2026

Net sales growth, as reported (8.4)% Impact of foreign currency fluctuations - % Net sales growth, operational (8.4)% Impact of certain acquisitions/divestitures - % Net sales growth, organic (8.4)%

Net sales growth, as reported 0.7 %

Impact of foreign currency fluctuations 1.2 % Net sales growth, operational 1.9 % Impact of certain acquisitions/divestitures - % Net sales growth, organic1.9 %

Watchman U.S. Net Sales Growth

Three Months Ended September 30, 2026

Watchman International Net Sales Growth

Three Months Ended September 30, 2026

Net sales growth, as reported (6.8)% Impact of foreign currency fluctuations - % Net sales growth, operational (6.8)% Impact of certain acquisitions/divestitures - % Net sales growth, organic (6.8)%

Net sales growth, as reported 4.9 %

Impact of foreign currency fluctuations (0.9)% Net sales growth, operational 4.0 % Impact of certain acquisitions/divestitures - % Net sales growth, organic 4.0 %

Appendix C - Additional Non-GAAP Reconciliations

Adjusted results(1) $ 0.77 $ 0.79 $ 3.16 $ 3.18

Estimated Adjusted Below-the-Line Expenses (in millions) Full Year 2026 Estimate

Below-the-line expenses, adjusted(1) ~$485

Estimated Tax Rate Full Year 2026 Estimate

Estimated Adjusted Operating Margin Full Year 2026 Estimate

Tax Rate, adjusted(1) ~12.0% Operating Margin, adjusted(1) ~27.6%

(1) The company has not provided reconciliations of certain forward-looking adjusted metrics to their respective GAAP measure as it is unable to predict with reasonable certainty and without unreasonable efforts the impact of certain items such as intangible asset impairment charges, acquisition-related charges, restructuring and restructuring-related charges and litigation-related charges, among other items. The combined impact of these items is uncertain, dependent on various factors and cannot be predicted with reasonable certainty, and could be material to our GAAP measures of financial results.

Appendix C - Additional Non-GAAP Reconciliations

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