Boston Scientific has reported revenue of around $5.2bn in Q1 2026, broadly in line with performance achieved in Q4 2025, yet has tempered its full-year growth expectations.
The medtech giant’s Q1 revenues correspond to a year-over-year (YoY) uptick of 11.2% on the quarter’s 2025 performance of around $4.7bn.
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For 2026, Boston now expects growth to fall in the range between 7% to 8.5% versus 10.5% to 11.5% as outlined previously, with earnings between $3.34 and $3.41 per share compared with a previously mooted range between $3.43 and $3.49.
The tempered 2026 outlook, however, appears not to have affected investor sentiment. Following the release of its financials ahead of market open, Boston’s stock on the New York Stock Exchange (NYSE) closed at $64.87 per share on 22 April, indicative of an 8.9% rise on the previous market close of $59.52. Boston has a market cap of around $96.4bn.
The lion’s share of Boston’s Q1 revenue came from its cardiovascular business, with revenue of around $3.5bn indicative to a 13.5% YoY uptick from $3.1bn in Q1 2025.
Boston’s cardiovascular portfolio includes its Watchman franchise and Farapulse pulsed-field ablation (PFA) system, which are both currently high-growth segments within the broader medtech industry.
The global electrophysiology ablation catheter market, of which PFA is a part, is on a rapid growth course. According to GlobalData analysis, the market is projected to reach a valuation of $17.6bn in 2035, up from $6.1bn in 2025.
Boston’s PFA rival Medtronic has experienced similarly strong cardiovascular performance, according to its Q3 fiscal year 2026 (FY26) performance reported in February 2026, driven by its PulseSelect PFA system. Achieving $3.46bn in Q3, corresponding to a YoY uptick of 13.8%, Medtronic’s finance chief, Thierry Pieton, highlighted during a conference call that the portfolio’s cardiac ablation segment (CAS) grew 80% YoY, with PFA accounting for 80% of this revenue.
Elsewhere across Boston’s business, the company reported strong growth in its endoscopy and neuromodulation segments, which achieved revenue of $736m and $318m, corresponding to YoY upticks of 9.4% and 17.4%, respectively.
Commenting on the quarter, Boston CEO Mike Mahoney said: “Our global team and the strength of our category leadership strategy enabled us to deliver solid results this quarter. We remain focused on executing our long-term strategy and advancing our differentiated pipeline to drive meaningful impact for patients, physicians and hospital systems.”
Elaborating on the decision to trim its full-year 2026 outlook, Mahoney stated during a conference call that Boston felt this was a “prudent move” that reflected “ongoing competitive dynamics” offset by strength in the company’s evolving Farapulse PFA catheter and mapping portfolio.
