Net sales of $904 million decreased (5.0%) as-reported, decreased (8.0%) in constant currency including (5.5%) driven by Q3 2024 Byte impact and ERP pre-buy
GAAP gross margin of 48.8%, GAAP net loss per share of ($2.14)
Adjusted gross margin of 52.6%, adjusted EBITDA margin of 18.4%, adjusted EPS of $0.37
Revised FY25 outlook
Executing its Return-to-Growth action plan to drive improved performance and deliver sustained, profitable growth
Provides leadership updates to support transformation strategy
CHARLOTTE, N.C., Nov. 06, 2025 (GLOBE NEWSWIRE) -- DENTSPLY SIRONA Inc. ("Dentsply Sirona" or the "Company") (NASDAQ:XRAY) today announced its financial results for the third quarter of 2025 and introduced its Return-to-Growth action plan, a comprehensive strategy to improve performance and position the Company for sustained, profitable growth over the next 24 months.
Third quarter net sales of $904 million decreased (5.0%) (decreased (8.0%) in constant currency) compared to the third quarter of 2024. Foreign currency changes positively impacted third quarter 2025 net sales by approximately $28 million. Net loss attributable to Dentsply Sirona was ($427) million, or ($2.14) per share, compared to a net loss of ($494) million, or ($2.46) per share in the third quarter of 2024. Non-cash charges for the impairment of goodwill and other intangible assets were ($263) million, net of tax, or ($1.31) per share in the third quarter of 2025, versus ($495) million, net of tax, or ($2.46) per share in the third quarter of 2024. Adjusted earnings per diluted share were $0.37, compared to $0.50 in the third quarter of 2024. A reconciliation of Non-GAAP measures (including constant currency, adjusted EBITDA and margin, adjusted EPS, adjusted free cash flow conversion, and segment adjusted operating income) to GAAP measures is provided below.
"Third quarter results fell short of our expectations and reflect the operational and strategic challenges facing the business," said Dan Scavilla, President and Chief Executive Officer. "The Board of Directors and I are taking decisive action to improve performance with the launch of our Return-to-Growth strategy. By sharpening our focus on our customers, reigniting growth in the U.S. business, more effectively empowering our people to power performance and evolving our operations to drive innovation, we believe we will be able to deliver sustained, profitable growth over the next 24 months and enhance long-term value for Dentsply Sirona shareholders."
Executing the Return-to-Growth Action Plan
Dentsply Sirona's Return-to-Growth action plan is designed to improve performance and position the Company to deliver sustained, profitable growth over the next 24 months, focused on four key pillars:
Putting Customers at the Center - Enhancing the customer experience by simplifying processes, empowering field and commercial teams, and strengthening global service capabilities to make Dentsply Sirona easier to do business with.
Reigniting the U.S. Business to Win - Refocusing the U.S. organization to improve commercial execution, deepen customer relationships, and position the Company for stronger, more consistent growth.
Empowering People to Power Performance - Building a high-performing, accountable culture by strengthening leadership, aligning teams around clear priorities, and advancing digital, AI and transformation initiatives across the organization through a newly established Transformation Office.
Evolving Operations to Fuel Innovation - Streamlining operations and investing in R&D to deliver greater value to clinicians through increased training and education, while improving efficiency, reducing complexity, and freeing up capital for innovation and growth initiatives.
Mr. Scavilla will provide further details on this action plan during the Company's third quarter 2025 earnings call webcast.
Leadership Updates
To drive the Company's Return-to-Growth action plan, the Company has made several leadership updates and appointments since second quarter 2025 earnings, including:
Matt Garth, Chief Financial Officer, has departed the Company. This action is not the result of any dispute, disagreement, or any financial reporting matter. A transition plan is in place to ensure continuity and maintain financial discipline while a search for his successor, led by Heidrick & Struggles, is underway. During this interim period, Board member Leslie Varon, former Chief Financial Officer of Xerox Corporation, will provide governance and oversight of the finance organization in her capacity as Audit and Finance Committee Chair.
Aldo Denti was appointed Chief Commercial Officer in October 2025. Mr. Denti is a global business leader with over 25 years of experience driving transformative growth in the Medical Device and Consumer Health sectors. Most recently, he served as Company Group Chairman, Global Orthopedics, at Johnson & Johnson MedTech. His expertise spans sales, marketing, strategic planning, and successful integration across diverse markets. Mr. Denti has a proven track record of delivering revenue growth and operational efficiency.
Dustin Shields has been named Chief Transformation Officer, effective December 1, 2025. He most recently served as Senior Vice President, International Sales and Operations at Globus Medical, Inc., holding multiple leadership roles since 2012 at NuVasive, Inc. (acquired by Globus in 2023), and sales and leadership positions at Medtronic plc, Stryker Corporation, and other medical technology companies. Mr. Shields will oversee the day-to-day execution of the Return-to-Growth plan, driving operational improvements and creating value for customers and stakeholders. The Transformation Office will also encompass the Company's AI and automation initiatives to accelerate decision-making, streamline operations, and enhance analytics.
Updated 2025 Outlook
The Company is revising its 2025 outlook based on the results of the third quarter and the identification of key areas for incremental investment expected to occur in the fourth quarter. The revised outlook includes net sales in the range of $3.6 billion to $3.7 billion, and constant currency sales are expected to be in the range of (5%) to (4%) year-over-year. Adjusted EPS is expected to be approximately $1.60. This outlook reflects the current state of tariffs and trade policy.
Other 2025 outlook assumptions are included in the third quarter 2025 earnings presentation posted on the Investors section of the Dentsply Sirona website at https://investor.dentsplysirona.com. The Company does not provide forward-looking estimates on a GAAP basis as certain information, which may include, but is not limited to, restructuring charges, transformation-related costs, impairment charges, certain tax adjustments, and other significant items, is not available without unreasonable effort and cannot be reasonably estimated. The exact amounts of these charges or credits are not currently determinable but may be significant.
Q3 2025 Summary Results (GAAP)
(in millions, except per share amount and percentages)
Q3 25
Q3 24
YoY
Net Sales
$904
$951
(5.0
%)
Gross Profit
$441
$495
(11.0
%)
Gross Margin
48.8
%
52.1
%
Net Loss Attributable to Dentsply Sirona
($427
)
($494
)
NM
Diluted Loss Per Share
($2.14
)
($2.46
)
NM
Q3 2025 Summary Results (Non-GAAP)[1]
(in millions, except per share amount and percentages)
Q3 25
Q3 24
YoY
Net Sales
$904
$951
(5.0
%)
Constant Currency
(8.0
%)
Adjusted Gross Profit
$475
$527
(9.8
%)
Adjusted Gross Margin
52.6
%
55.3
%
Adjusted EBITDA
$167
$170
(1.8
%)
Adjusted EBITDA Margin
18.4
%
17.9
%
Adjusted EPS
$0.37
$0.50
(26.5
%)
NM - not meaningfulPercentages are based on actual values and may not reconcile due to rounding.[1] Constant currency, adjusted gross profit and margin, adjusted EBITDA and margin, and adjusted EPS are Non-GAAP financial measures which exclude certain items. Please refer to "Non-GAAP Financial Measures" below for a description of these measures and to the tables at the end of this release for a reconciliation between GAAP and Non-GAAP measures.
Q3 2025 Segment Results
Net Sales Change vs. Prior year
Reported
Foreign Exchange Impact
Constant Currency
Connected Technology Solutions
(3.9
%)
3.1
%
(7.0
%)
Essential Dental Solutions
(3.4
%)
2.8
%
(6.2
%)
Orthodontic and Implant Solutions
(15.0
%)
2.1
%
(17.1
%)
Wellspect Healthcare
15.6
%
6.3
%
9.3
%
Total
(5.0
%)
3.0
%
(8.0
%)
Q3 2025 Geographic Results
Net Sales Change vs. Prior Year
Reported
Foreign Exchange Impact
Constant Currency
United States
(22.2
%)
—
%
(22.2
%)
Europe
9.9
%
7.3
%
2.6
%
Rest of World
0.3
%
1.2
%
(0.9
%)
Total
(5.0
%)
3.0
%
(8.0
%)
Cash Flow and Liquidity
Operating cash flow in the third quarter of 2025 was $79 million, compared to $141 million in the third quarter of 2024. The decrease was primarily due to unfavorable working capital changes. In the third quarter of 2025, the Company paid $32 million in dividends resulting in a total of $96 million returned to stockholders in the first nine months of 2025. The Company had $363 million of cash and cash equivalents as of September 30, 2025.
Goodwill and Indefinite-Lived Intangible Asset Impairment
In the third quarter of 2025, the Company recorded a non-cash charge for the impairment of goodwill and other indefinite-lived intangible assets of ($263) million, net of tax, within the Orthodontic and Implant Solutions and Connected Technology Solutions segments. These impairments were driven by lower-than-expected volumes of equipment, implants, and prosthetics products, particularly in the United States, and the impacts from tariffs.
Conference Call/Webcast InformationDentsply Sirona's management team will host an investor conference call and live webcast on November 6th, 2025, at 8:30 am ET. The live webcast and a presentation related to the call will be available on the Investors section of the Company's website at https://investor.dentsplysirona.com.
For those planning to participate on the call, please register at https://register-conf.media-server.com/register/BIf8acdfc5cac44dfeb76f0ac7c371fbe4. A webcast replay of the conference call will be available on the Investors section of the Company's website following the call.
About Dentsply SironaDentsply Sirona is the world's largest diversified manufacturer of professional dental products and technologies, with over a century of innovation and service to the dental industry and patients worldwide. Dentsply Sirona develops, manufactures, and markets a comprehensive solutions offering, including dental and oral health products as well as other consumable medical devices under a strong portfolio of world-class brands. Dentsply Sirona's innovative products provide high-quality, effective and connected solutions to advance patient care and deliver better and safer dental care. Dentsply Sirona's headquarters is located in Charlotte, North Carolina. The Company's shares are listed in the United States on Nasdaq under the symbol XRAY. Visit www.dentsplysirona.com for more information about Dentsply Sirona and its products.
Contact Information:Investors:Wade MoodySenior Manager, Investor
Press:Marion Par-WeixlbergerVice President, Public Relations & Corporate Communications+43 676
Forward-Looking Statements and Associated Risks
All statements in this Press Release that do not directly and exclusively relate to historical facts constitute "forward-looking statements." Such statements are subject to numerous assumptions, risks, uncertainties and other factors that could cause actual results to differ materially from those described in such statements, many of which are outside of our control, including those described in Part I, Item 1A, "Risk Factors" of the Company's most recent Annual Report on Form 10-K, Part II, Item 1A, "Risk Factors" of the Company's Quarterly Reports on Form 10-Q for any subsequent fiscal quarters, and any updating information or other factors which may be described in the Company's other filings with the Securities and Exchange Commission (the "SEC"). No assurance can be given that any expectation, belief, goal or plan set forth in any forward-looking statement can or will be achieved, and readers are cautioned not to place undue reliance on such statements which speak only as of the date they are made. We do not undertake any obligation to update or release any revisions to any forward-looking statement or to report any events or circumstances after the date of this Press Release or to reflect the occurrence of unanticipated events. Investors should understand it is not possible to predict or identify all such factors or risks. As such, you should not consider the risks identified in the Company's SEC filings to be a complete discussion of all potential risks or uncertainties associated with an investment in the Company.
DENTSPLY SIRONA INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF OPERATIONS(in millions, except per share amounts)(unaudited)
Three Months Ended September 30,
Nine Months Ended September 30,
2025
2024
2025
2024
Net sales
$
904
$
951
$
2,719
$
2,888
Cost of products sold
463
456
1,322
1,376
Gross profit
441
495
1,397
1,512
Selling, general, and administrative expenses
355
390
1,055
1,204
Research and development expenses
37
40
110
123
Goodwill and intangible asset impairments
262
504
497
510
Restructuring and other costs
5
23
18
45
Operating loss
(218
)
(462
)
(283
)
(370
)
Other income and expenses:
Interest expense, net
23
18
66
53
Other income
(11
)
(2
)
(10
)
(10
)
Loss before income taxes
(230
)
(478
)
(339
)
(413
)
Provision for income taxes
198
17
114
69
Net loss
(428
)
(495
)
(453
)
(482
)
Less: Net loss attributable to noncontrolling interest
(1
)
(1
)
(1
)
(2
)
Net loss attributable to Dentsply Sirona
$
(427
)
$
(494
)
$
(452
)
$
(480
)
Loss per common share attributable to Dentsply Sirona:
Basic
$
(2.14
)
$
(2.46
)
$
(2.27
)
$
(2.35
)
Diluted
$
(2.14
)
$
(2.46
)
$
(2.27
)
$
(2.35
)
Weighted average common shares outstanding:
Basic
199.5
201.0
199.3
204.7
Diluted
199.5
201.0
199.3
