Key Highlights

  • Pharming reported third-quarter revenue of $117.6 million, up 21%, and tightened 2026 revenue guidance to $380 million to $390 million.
  • Beta Bionics reported net sales of $35.5 million, up 30%, and flagged up to $8.5 million of fourth-quarter revenue deferral ahead of Mint.
  • OrthoPediatrics reported revenue of $72.7 million, up 19%, and raised 2026 revenue guidance to $270.0 million to $273.0 million.
  • NRC Health reported revenue of $38.4 million, up 11%, with total recurring contract value up 9% to $154.1 million.
  • Pulmonx reported revenue of $22.8 million, up 6.2%, and narrowed its net loss to $0.19 per share from $0.34.

Which Medtech and Healthcare Companies Showed Growth in Their October 27 Earnings?

Five healthcare names reported growth on Tuesday, October 27, though each tells a different story. Pharming (NASDAQ:PHAR) grew revenue 21% to $117.6 million, Beta Bionics (NASDAQ:BBNX) grew net sales 30% to $35.5 million, and OrthoPediatrics (NASDAQ:KIDS) grew revenue 19% to $72.7 million. NRC Health (NASDAQ:NRC) grew revenue 11% to $38.4 million, and Pulmonx (NASDAQ:LUNG) returned to 6.2% growth at $22.8 million.

Guidance moves varied. OrthoPediatrics raised its range, Pharming and Beta Bionics tightened theirs, Pulmonx held revenue guidance while lifting its gross margin target, and NRC Health gave none.

Pharming: Did a 21% Revenue Jump Change the 2026 Outlook?

Pharming reported revenue of $117.6 million, up from $97.3 million, with operating profit of $29.9 million, up 89%, and net profit of $22.4 million. Guidance was tightened to $380 million to $390 million from $375 million to $395 million, while operating expense guidance came down to $310 million to $315 million. Revenue was pre-announced on Thursday, October 22, after it beat analyst consensus, so Tuesday's release confirmed the figure.

Ruconest revenue was $93.8 million, up 14%, and Joenja revenue was $23.8 million, up 58%. Operating cash flow was $32.4 million, and cash and marketable securities were $190.9 million, and an FDA decision on a lower-dose pediatric application is due January 30, 2027. Patients on paid therapy in the United States rose to 136 from 116.

Beta Bionics: Why Could Mint Defer Up to $8.5 Million of Fourth-Quarter Revenue?

Net sales rose to $35.5 million from $27.3 million, and pharmacy channel sales more than doubled, up 118% to $13.6 million. Guidance was narrowed to $124 million to $126 million from $121 million to $126 million. Management said up to $8.5 million of fourth-quarter revenue could shift because patients may wait for the Mint pump, which has FDA clearance. Pharmacy was almost entirely single-use products, and iLet pump sales in the durable medical equipment channel fell to $11.6 million from $14.2 million.

The net loss widened to $24.4 million, or $0.52 per share, from $14.2 million, or $0.33, as operating expenses rose to $46.9 million. Cash and investments were $373.6 million after a public offering with net proceeds of about $161.3 million.

OrthoPediatrics: Why Did Guidance Rise While the Loss Per Share Stayed Negative?

Revenue guidance was lifted to $270.0 million to $273.0 million from $265.0 million to $269.0 million, while the adjusted loss was $0.23 per share, against $0.24. Trauma and deformity revenue rose 19% to $52.6 million and scoliosis revenue rose 18% to $19.2 million. The company designs implants and instruments for children with orthopedic conditions, and U.S. revenue made up 80% of the total.

Operating expenses grew 6% to $58.2 million, slower than revenue, so the operating loss narrowed to $4.2 million from $9.4 million. Adjusted EBITDA guidance holds near $25.0 million, which implies roughly $9.1 million in the fourth quarter (calculated).

NRC Health: Why Did Revenue Rise 11% While Margins and Free Cash Flow Slipped?

GAAP net income was $4.7 million, or $0.21 per share, against $0.18. Adjusted EBITDA of $10.9 million was flat, so the margin eased to 28% from 31%, and free cash flow was $7.0 million, an 18% margin against 29%. The release carried no guidance. Total recurring contract value, which the company treats as a signal of future revenue, rose 9% to $154.1 million, slower than revenue growth.

The company repurchased $16.0 million of stock in the quarter and declared a $0.16 dividend payable January 8, 2027. Notes payable rose to about $102.9 million, and shareholders' equity was negative $9.1 million.

Pulmonx: Did Revenue Return to Growth as the Net Loss Narrowed 40%?

Revenue was $22.8 million, up 6.2% from $21.5 million, while the net loss fell to $8.4 million from $14.0 million, a 40% narrowing (calculated). U.S. revenue rose 6.8%, and China contributed nothing as the distributor restarts activity after its registration renewal.

Revenue guidance held at $90 million to $92 million, and the gross margin target moved to about 77%. Cash was $52.7 million, down from $69.8 million at year end, and management expects cash and securities to fall by about $22 million in 2026. The company sells the Zephyr Endobronchial Valve for severe emphysema, and operating expenses fell 18% to $24.9 million.

Medtech Growth Compared: Who Grew Fastest, Who Raised Guidance and Who Is Still Losing Money?

Beta Bionics grew fastest at 30%, which is 23.8 percentage points ahead of Pulmonx at 6.2% (calculated). The five companies reported combined revenue of $287.0 million (calculated), of which Pharming's $117.6 million is about 41.0% (calculated). NRC Health's 11% and OrthoPediatrics' 19% sit between those two.

On guidance midpoints, OrthoPediatrics rose to $271.5 million from $267.0 million, up about 1.7% (calculated), and Beta Bionics rose to $125 million from $123.5 million, up about 1.2% (calculated). Pharming's midpoint stayed at $385 million (calculated). On profitability, OrthoPediatrics' $4.2 million operating loss is about 5.8% of revenue (calculated), against Beta Bionics' 75% of sales. Beta Bionics' net loss widened about 71.8% (calculated), while Pulmonx's narrowed.

What to Watch Next: Pharming's November Readout, Mint's Launch and the January 30 FDA Date

Pharming expects Phase II topline results for leniolisib in common variable immunodeficiency in November, followed by the January 30, 2027 FDA decision. Beta Bionics plans a revised 510(k) submission in mid-fourth quarter and a full Mint launch in the first quarter of 2027. NRC Health's dividend is payable January 8, 2027. OrthoPediatrics must deliver its implied fourth-quarter adjusted EBITDA, and Pulmonx needs fourth-quarter revenue of roughly $23.8 million to $25.8 million to reach its range (calculated), with China's restart the key variable.