DENTSPLY SIRONA (XRAY) Company Report

Dentsply Sirona reported Q3 2025 global sales of $904 million, a 5% decrease as reported, or negative 8% on a constant currency basis. Non-GAAP earnings per share was $0.37, down $0.13 versus the prior year, with approximately half the decline attributed to higher non-GAAP tax rates.
The company recorded a $263 million non-cash after-tax charge related to the impairment of goodwill and intangible assets.
Matt Garth, Chief Financial Officer, departed the company, with a transition plan in place to ensure continuity.
CEO Dan Scavilla outlined a "return-to-growth action plan" for the next 24 months, focusing on enhancing customer experience, reigniting the U.S. business through a multi-channel approach and dealer re-engagement, and increasing investments in sales teams and clinical education.

Nov 6, 2025, 1:30 PM

Transcript

Dentsply Sirona (XRAY) Announces Q3 2025 Results and Revised 2025 Outlook

XRAY

Earnings

Guidance Update

Demand Weakening

Dentsply Sirona (XRAY) reported Q3 2025 net sales of $904 million, a 5.0% year-over-year decrease, and adjusted EPS of $0.37, a 26.5% decline from Q3 2024.
The adjusted EBITDA margin for Q3 2025 expanded by 50 basis points year-over-year to 18.4%, primarily due to reduced operating expenses.
The company revised its 2025 outlook downwards, now projecting constant currency sales to decline by (5%) to (4%), adjusted EBITDA margin to be greater than 18%, and adjusted EPS to be approximately $1.60.
Net sales were negatively impacted by a (5.5%) constant currency decrease from the Q3 2024 Byte impact and ERP pre-buy, with U.S. net sales declining (22.2%) in constant currency.
XRAY is executing a "Return-to-Growth Action Plan" to achieve sustained, profitable growth over the next 24 months, focusing on customer experience, U.S. business, and operational efficiency.

Nov 6, 2025, 1:30 PM

Presentation

Dentsply Sirona Reports Q3 2025 Results, Revises FY25 Outlook, and Announces Leadership Changes

XRAY

Earnings

Guidance Update

Management Change

Dentsply Sirona reported net sales of $904 million for Q3 2025, representing a (5.0%) decrease as-reported compared to Q3 2024, and a GAAP net loss per share of ($2.14), with adjusted EPS of $0.37.
The company revised its FY25 outlook, projecting net sales in the range of $3.6 billion to $3.7 billion and adjusted EPS of approximately $1.60.
Operating cash flow for Q3 2025 was $79 million, a decrease from $141 million in Q3 2024.
Dentsply Sirona launched a "Return-to-Growth action plan" and announced leadership changes, including the departure of CFO Matt Garth and the appointments of Aldo Denti as Chief Commercial Officer and Dustin Shields as Chief Transformation Officer.

Nov 6, 2025, 1:15 PM

8-K

Global Dental Imaging Market Projected to Reach US$4.69 Billion by 2030

XRAY

Product Launch

New Projects/Investments

Revenue Acceleration/Inflection

The global dental imaging market, valued at US$3.26 billion in 2025, is projected to advance at a CAGR of 7.5% to reach US$4.69 billion by 2030.
This market expansion is driven by rapid technological advancements in imaging solutions, the integration of artificial intelligence (AI) for enhanced diagnostic accuracy, and a global increase in demand for aesthetic and preventive dental care.
DENTSPLY SIRONA Inc. is identified as a market leader, driving growth through R&D excellence, including the introduction of Primescan 2 and a partnership with Siemens Healthineers to launch the MAGNETOM Free.Max Dental Edition, an MRI system designed for dental applications.
While North America currently dominates the dental imaging market, the Asia Pacific region is projected to record the highest growth rate through 2030.

Oct 24, 2025, 2:30 PM

Press Release

DENTSPLY SIRONA issues $550M subordinated notes and terminates bridge loan

XRAY

Debt Issuance

Jun 12, 2025, 12:00 AM

8-K

Dentsply Sirona Prices $550M Junior Subordinated Notes Offering

XRAY

Debt Issuance

Dentsply Sirona announced the pricing of a $550 million offering of 8.375% Junior Subordinated Notes due 2055, with the closing expected on June 12, 2025.
The notes carry a fixed rate of 8.375% per year until September 12, 2030, after which the rate will reset based on the five-year U.S. Treasury rate plus a spread, but not below 8.375%.
Net proceeds of approximately $544.5 million will be used for general corporate purposes, including the repayment of a $435 million term loan and other short-term indebtedness.

Jun 6, 2025, 12:00 AM

8-K

Dentsply Sirona Updates Financing Agreements

XRAY

Debt Issuance

On June 3, 2025, the Company executed key amendments to its credit and note purchase agreements, including amendments to the Note Purchase Agreement and the First Amendment to Credit Agreement.
The amendments revise financial covenants such as the leverage ratio and senior debt-to-capitalization ratio, establishing new thresholds and conditions.
Effectiveness of these amendments is subject to satisfaction of various conditions including fee payments and execution by required parties, with deadlines set for September 15, 2025.

Jun 4, 2025, 12:00 AM

8-K

Dentsply Sirona Q1 2025 Earnings & Financial Update

XRAY

Earnings

Guidance Update

Product Launch

CFO Change

Q1 net sales of $879M fell 7.7% YoY, with GAAP gross margin at 53.0% and net income of $20M or $0.10 per share
On a non-GAAP basis, the company delivered an adjusted EBITDA margin of 19.0%, adjusted EPS of $0.43, and an adjusted gross margin of 56.3%
Organic sales declined by 4.4% (including a 4.0% Byte impact) with reported sales dropping from $953M to $879M YoY, even as FY25 outlook for organic sales and adjusted EPS remains unchanged
Revised FY25 reported sales range to $3.6–$3.7B and raised its adjusted EBITDA margin outlook to over 19%
Strategic initiatives include accelerated digital and connected dentistry via the DS Core platform—now with over 42,000 unique users, 50,000 connected devices, and 100,000 monthly lab orders—along with supply chain optimization and new product enhancements
Corporate update: Interim CFO’s assignment concluded with CEO Simon Campion assuming the role of principal financial officer until a permanent CFO is appointed

May 8, 2025, 12:30 PM

Transcript Presentation 8-K

Dentsply Sirona Executes $435M 364-Day Bridge Loan Agreement

XRAY

Debt Issuance

Bridge Loan Agreement executed on March 19, 2025 for a $435 million term loan with a maturity date of March 18, 2026, aimed at repaying commercial paper and funding general corporate purposes.
Goldman Sachs Bank USA is designated as Administrative Agent, Sole Bookrunner, and Sole Lead Arranger, with the facility featuring interest rate options based on forward-looking benchmarks and scheduled duration fees .

Mar 19, 2025, 12:00 AM

8-K

DENTSPLY SIRONA Highlights Growth Strategies and Digital Innovation

XRAY

Product Launch

New Projects/Investments

Aligner and CTS Business Growth: Management highlighted strong performance in the aligner segment with over 20% growth in Europe and noted a significant turnaround in Germany, where a reintroduced mid-range CBCT helped achieve the best quarter in several periods.
Expansion of Digital Ecosystem: The company is advancing its digital strategy with the integration of DS Core and Primescan 2, including forthcoming software updates to improve upload/download speeds and overall functionality, reinforcing its position in connected dentistry.
Investments in Inside Sales and Market Intelligence: A robust inside sales force has been deployed—now contacting 16,000 accounts—to drive incremental revenue, gather market intelligence, and free up field reps to target larger accounts.
Operational Efficiency and Cost Reduction Initiatives: Ongoing back-office streamlining, including significant cost cuts and sales rep retraining, are central to the company’s strategy to bolster clinical offerings and support sustainable growth.

Mar 11, 2025, 7:01 PM

Transcript

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