Dentsply Sirona 2025 Q4: Net Sales of $961 Million, Up 6.2% Year-over-Year

Image Source: Dentsply Sirona Fourth Quarter and Full Year 2025 Results

Q4 Net Sales Up 6.2% YoY / Full-Year Net Loss of $598 Million / Goodwill and Intangible Asset Impairment of $650 Million

DentalGoodNews | Dentsply Sirona announced its fourth quarter and full-year 2025 financial results on February 26, 2026, and issued its 2026 guidance. In the fourth quarter of 2025, the company reported net sales of $961 million (approximately RMB 6.575 billion), a year-over-year increase of 6.2%, or 2.5% on a constant currency basis. Full-year net sales were $3.680 billion (approximately RMB 25.176 billion), a decrease of 3.0% year-over-year, or a 4.3% decrease on a constant currency basis.

Image Source: Dentsply Sirona Fourth Quarter and Full Year 2025 Results

In terms of profitability, the company reported a net loss of $146 million (approximately RMB 999 million) for the fourth quarter, with a diluted loss per share of $0.74 (approximately RMB 5.06), primarily impacted by goodwill and intangible asset impairment charges of $144 million (after-tax) (approximately RMB 985 million). The full-year net loss was $598 million (approximately RMB 4.091 billion), with a diluted loss per share of $2.96 (approximately RMB 20.25), primarily dragged down by full-year goodwill and intangible asset impairment charges of $650 million (approximately RMB 4.447 billion). Excluding these impairment charges, restructuring, and acquisition-related costs, Q4 Adjusted EPS was $0.27, up 4.9% year-over-year. Full-year Adjusted EPS was $1.60 (approximately RMB 10.95), down 4.6% year-over-year.

Regarding Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA), it was $135 million (approximately RMB 924 million) in the fourth quarter, up 5.3% year-over-year, corresponding to a margin of 14.1%. Full-year Adjusted EBITDA was $667 million (approximately RMB 4.563 billion), up 5.6% year-over-year, with the margin improving to 18.1% (compared to 16.6% in 2024).

Image Source: Dentsply Sirona Fourth Quarter and Full Year 2025 Results

By business segment, Essential Dental Solutions generated sales of $372 million (approximately RMB 2.545 billion) in the fourth quarter, up 7.8% year-over-year, or 4.0% on a constant currency basis. For the full year, this segment's sales were $1.440 billion (approximately RMB 9.852 billion), down 0.8% year-over-year, or down 2.4% on a constant currency basis. Within this segment, the U.S. market saw a 3.7% year-over-year increase in Q4 but a 4.3% decrease for the full year; the European market grew 8.6% in Q4 and 3.9% for the full year; other regions grew 12.0% in Q4 and 5.4% for the full year.

Orthodontic and Implant Solutions generated sales of $202 million (approximately RMB 1.382 billion) in the fourth quarter, up 9.8% year-over-year, or 6.9% on a constant currency basis. For the full year, this segment's sales were $850 million (approximately RMB 5.815 billion), down 12.6% year-over-year, or down 13.4% on a constant currency basis. Within this segment, the U.S. market saw a 52.2% year-over-year increase in Q4 but a 24.6% decrease for the full year; the European market grew 3.6% in Q4 but declined 0.5% for the full year; other regions declined 16.8% in Q4 and 8.4% for the full year.

Connected Technology Solutions generated sales of $299 million (approximately RMB 2.046 billion) in the fourth quarter, up 1.8% year-over-year, but down 1.9% on a constant currency basis. For the full year, this segment's sales were $1.036 billion (approximately RMB 7.088 billion), down 2.5% year-over-year, or down 3.8% on a constant currency basis. Within this segment, the U.S. market saw a 9.0% year-over-year increase in Q4 but a 12.4% decrease for the full year; the European market grew 0.9% in Q4 and 5.8% for the full year; other regions declined 3.2% in Q4 and 2.8% for the full year. The company noted in its announcement that the impairment in this segment was primarily related to lower-than-expected sales volumes for equipment, implants, and restorative products, as well as a downward revision in short-term U.S. demand.

By regional performance, overall sales in the U.S. market increased 14.5% year-over-year in Q4 but decreased 12.3% for the full year; overall sales in the European market increased 4.8% in Q4 and 3.8% for the full year; overall sales in other regions decreased 0.6% in Q4 and 0.6% for the full year.

Image Source: Dentsply Sirona Fourth Quarter and Full Year 2025 Results

Regarding cash flow, the company generated operating cash flow of $101 million (approximately RMB 691 million) and free cash flow of $60 million (approximately RMB 410 million) in the fourth quarter of 2025. For the full year, operating cash flow was $235 million (approximately RMB 1.608 billion) and free cash flow was $104 million (approximately RMB 712 million). As of December 31, 2025, the company held cash and cash equivalents of $326 million (approximately RMB 2.230 billion).

On capital allocation, the company announced the suspension of its quarterly dividend, prioritizing capital for debt repayment and share repurchases. Concurrently, the Board approved a restructuring plan expected to generate one-time costs of $55-$65 million (approximately RMB 376-445 million) and achieve approximately $120 million (approximately RMB 821 million) in annualized cost savings. A portion of the savings will be reinvested in innovation, clinical education, sales force capability building, and initiatives related to "connected dentistry," supporting the advancement of the company's "Return-to-Growth Action Plan."

Looking ahead to 2026, the company expects full-year net sales in the range of $3.5-$3.6 billion (approximately RMB 23.945-24.629 billion) and Adjusted EPS in the range of $1.40-$1.50 (approximately RMB 9.58-10.26). Management stated that 2026 will focus on accelerating the execution of the "Return-to-Growth" plan by advancing restructuring, strengthening cost efficiency, and reinvesting savings into innovation, clinical education, and sales capability building to drive a return to profitable growth.