Envista Holdings Corp (NYSE: NVST)

Envista Holdings Corp is a global dental products company that offers a broad portfolio of more than 30 trusted brands, including Nobel Biocare, Ormco, DEXIS, and Kerr. The company designs, manufactures, and markets dental implants, orthodontic appliances, digital imaging systems, restorative materials, endodontic products, infection prevention solutions, and dental loupes. Its products serve the clinical needs of dental professionals for diagnosing, treating, and preventing oral conditions and for improving patient smiles. Envista Holdings Corp distributes its offerings to customers in over 130 countries through a large commercial organization and a network of distribution partners.

In 2025, Envista Holdings Corp generated total sales of $2.7 billion, of which approximately 85% were derived from sales of consumable products, services, and spare parts. The company's revenue comes from the sale of dental implant systems, orthodontic bracket systems and aligners, digital imaging equipment, restorative and endodontic materials, rotary burs, impression materials, bonding agents, cements, and infection prevention products. These products are sold to dental specialists, general dentists, dental hygienists, oral surgeons, dental laboratories, dental service organizations, and educational, medical, and governmental entities.

The company operates through the following segments: Specialty Products & Technologies and Equipment & Consumables.

• Specialty Products & Technologies: This segment develops, manufactures, and markets dental implant systems including regenerative solutions, dental prosthetics, and associated treatment software and technologies, as well as orthodontic bracket systems, aligners, lab products, and loupes. The segment markets these products primarily directly to end users through its commercial organization, with 84% of its 2025 sales being direct sales. In 2025, the segment generated $1,752.8 million in sales, representing a year over year sales increase of 8.4% and a core sales increase of 6.3%. Geographically, 41% of segment sales came from North America, 28% from Western Europe, 5% from other developed markets, and 26% from emerging markets. Sales of consumable products, services, and spare parts accounted for 93% of segment sales in 2025.

• Equipment & Consumables: This segment develops, manufactures, and markets dental equipment and supplies for dental offices, including digital imaging systems, software, and visualization and magnification systems, endodontic systems and related products, restorative materials and instruments, rotary burs, impression materials, bonding agents, and cements, and infection prevention products. In 2025, the segment generated $966.7 million in sales. Geographic breakdown shows 70% of segment sales from North America, 12% from Western Europe, 3% from other developed markets, and 15% from emerging markets. The segment distributes its products mainly through channel partners, which accounted for approximately 89% of its sales in 2025. Sales from consumable products, services, and spare parts made up approximately 70% of segment sales in 2025.

Envista Holdings Corp holds a leading position as one of the largest global dental products companies, with strong footholds in high growth segments such as dental implants, orthodontics, and digital imaging. The company benefits from a broad and deep product portfolio that spans premium and value brands, allowing it to meet diverse customer needs. Its competitive advantages include a legacy of innovation demonstrated by products such as NobelActive implants, Spark clear aligners, and DEXIS imaging systems, the proprietary Envista Business System that drives continuous improvement, strong brand recognition built over decades, a worldwide commercial footprint serving over 130 countries, and a significant presence in emerging markets that supplies a growing share of revenue. While the dental products industry is highly competitive, with rivals ranging from specialized niche players to large multinational corporations, Envista Holdings Corp differentiates itself through its integrated product offerings, commitment to innovation, and extensive customer education and support programs.

Envista Holdings Corp serves a diverse customer base that includes dental specialists such as orthodontists, periodontists, implantologists, and endodontists, as well as general dentists, dental hygienists, oral surgeons, dental laboratories, and dental service organizations. The company also sells to educational institutions, medical facilities, governmental agencies, and third party distributors. Among its customers, Henry Schein Inc represented approximately 12% of total sales in 2025, while no other single customer accounted for more than 10% of revenue in that year.