IART
Integra LifeSciences Holdings Corporation13.00
-0.47-3.49%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Supply limits growth despite strong demand
Q&A largely reaffirmed the scripted story of strong demand hampered by supply, with management providing segment growth details: CSS flat to low single-digits, Tissue Technologies low to mid-single-digits in 2026. Free cash flow dipped in Q4 on collections timing and restructuring, but operating cash flow surges north of $200 million next year—a $150 million jump. Tissue Tech shrugs off CMS changes—90% acute care, pricing fits, plus customer education upside as rivals potentially exit. MediHoney remediation spills into 2026 with zero guide inclusion; PriMatrix/Durepair earn early applause post-relauh. Supply fixes dictate growth trajectory.
Key Stats
Market Cap
1.01BP/E (TTM)
-Basic EPS (TTM)
-6.47Dividend Yield
0%Recent Filings
8-K
Integra Q4 revenues dip
Integra LifeSciences reported Q4 revenues of $434.9M, down 1.7% reported and 2.5% organic, with full-year 2025 at $1.635B up 1.5% reported but down 0.7% organic versus 2024. Codman Specialty Surgical grew 2.7% while Tissue Technologies plunged 12.8%, hit by MediHoney remediation and Integra Skin comps; adjusted EPS fell to $0.83 from $0.97. Guidance eyes 2026 organic growth of 0.8%-3.3% and adjusted EPS $2.30-$2.40 amid tariffs. Net debt hit $1.6B.
10-K
FY2025 results
Integra LifeSciences posted FY2025 revenues of $1.6B, up 1.5% y/y, with CSS at $1.2B (+5.0%, aided by Acclarent) while TT fell 6.9% on MediHoney issues and private label weakness. Q4 showed seasonal strength per historical patterns, yet margins compressed to 50.9% from quality remediation, tariffs ($19.9M paid), and manufacturing costs—despite Integra Skin recovery. Debt stands at $1.9B post-2025 Notes repayment; cash flows dropped to $50M on inventory builds. Braintree facility eyes 2026 operationalization for PMA approvals. FDA warning letters persist, risking quarterly supply.
8-K
Adopts CIC severance program
Integra LifeSciences adopted a change-in-control severance program on December 11, 2025, effective January 1, 2026, covering key executives including CFO Lea Knight and three EVPs. It offers 1.5x (2x for Knight) base plus target bonus in a lump sum, pro-rata bonus, 18 months COBRA, and 12 months outplacement upon qualifying termination within two years of a change in control by December 31, 2026. Program locks in retention amid M&A risks.
10-Q
Q3 FY2025 results
Integra LifeSciences posted Q3 revenue of $402.1M, up 5.6% y/y (derived) from $380.8M, with Codman Specialty Surgical jumping 8% to $292.6M on CSF management recovery while Tissue Technologies dipped 0.5% to $109.5M amid quality snags. Operating income flipped to $11.8M profit from $(8.2M) loss, gross margin slipped to 51.5% from 52.6% on higher costs; diluted EPS improved to $(0.07) from $(0.14), reconciling to 76.8M shares. Cash fell to $232.2M with $38.6M operating cash flow (9M YTD), FCF not disclosed in the 10-Q; total debt hit $1.8B under senior credit facility (6.4% term loan rate, revolver to 2028) after repaying $575M convertibles, covenant relief to 5.00x through mid-2026. Q2's $511M goodwill hit cleaned balance sheet. Revenue softens on quality issues.
8-K
Q3 revenue up 5.6%, EPS rises
Integra LifeSciences posted Q3 revenues of $402.1M, up 5.6% reported and 5.0% organic, with Codman Specialty Surgical surging 8.1% on neurosurgery strength while Tissue Technologies dipped 0.5% from supply snags. Adjusted EPS jumped to $0.54 from $0.41, fueled by cost controls amid recall remediation. Supply interruptions hit sales. Revised 2025 guidance: $1.620B-$1.640B revenue, $2.19-$2.24 adjusted EPS.
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