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About

Integra LifeSciences Holdings Corporation manufactures and sells surgical instruments, neurosurgical, ear, nose, throat, and wound care products for use in neurosurgery, neurocritical care, and otolaryngology.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 MIXED Integra LifeSciences Q1 2026: Revenue $392M, adj. EPS $0.54, guidance reiterated.

Revenue & Profitability

First quarter 2026 total revenue was $392 million, representing reported growth of 2.4% and organic growth of 1.3%. Adjusted EPS was $0.54, compared to $0.41 in the prior year. Gross margin was 64.1%, up 190 basis points year-over-year, and adjusted EBITDA margin was 19.4%, up 280 basis points. Operating cash flow was $9.8 million. Full-year 2026 revenue guidance is maintained at $1.66 billion to $1.7 billion, and adjusted EPS guidance is updated to $2.40 to $2.50.

Outlook

Management expressed confidence in continued strong demand and improving supply execution. They noted that recent Medicare reimbursement changes for skin substitutes primarily affect the outpatient market, where the company has limited exposure (approximately 10% of wound reconstruction revenue), and that their portfolio is already priced in line with new rates. Macro headwinds include tariff uncertainty and the Middle East conflict, but direct exposure is modest.

Growth Drivers

Tissue Reconstruction delivered 6.4% organic growth, fueled by double-digit growth in Integra Skin, mid-double-digit growth in DuraSorb, and the PriMatrix launch. Neurosurgery grew 1.9% organically, supported by strong demand for Certas Plus, CUSA, and Bactiseal. Capital equipment grew low single digits, with CUSA and CereLink up double digits. Instruments declined high single digits due to order timing but are expected to grow for the full year. International markets declined low single digits due to supply timing.

Balance Sheet & CapEx

Capital expenditures in the first quarter were $14.8 million. The company expects to start production at the Braintree facility by the end of June 2026, which will support SurgiMend relaunch. The transformation and compliance plan continues, with remediation costs expected to decline. Management emphasized debt reduction as a near-term priority.

Margins

Gross margin improved 190 basis points to 64.1% in Q1, driven by favorable product mix, IEEPA tariff benefit, and lower remediation costs. Adjusted EBITDA margin improved 280 basis points to 19.4%. For full-year 2026, gross margins are expected to be approximately 62.5%, with quarterly variation due to tariffs and manufacturing variances. Adjusted EBITDA margin is expected to improve 100 basis points compared to 2025.

Key Risks

Management flagged ongoing tariff uncertainty as a risk, with potential impact on margins. The company's full-year guidance does not assume meaningful contributions from returning products or PMA approvals. Other risks include supply chain disruptions, remediation costs, and the inherent variability in instrument sales timing. The impact of the Middle East conflict was noted as modest.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-07-29

Second quarter revenue and adjusted EPS exceeded expectations, driven by operational improvements and tariff favorability. Guidance for organic revenue growth and EPS was reaffirmed, with margin expansion and deleveraging as ongoing priorities. Product relaunches and supply chain improvements are expected to support future growth.

Q1 2026 Q1 2026 2026-05-05

Q1 revenue and adjusted EPS exceeded guidance, driven by strong demand, improved supply, and transformation savings. Full-year revenue guidance is maintained, while adjusted EPS guidance is raised due to tariff benefits. Leadership changes and ongoing transformation support long-term growth.

Q4 2025 Q4 2025 2026-02-26

Q4 2025 revenue and EPS exceeded guidance midpoints, despite year-over-year declines due to supply and remediation headwinds. 2026 guidance anticipates modest growth, improved free cash flow, and continued operational transformation, with tariff impacts and product relaunches as key variables.

Q3 2025 Q3 2025 2025-10-30

Q3 revenue grew 5% organically year-over-year to $402 million, but missed guidance due to supply chain issues. Adjusted EPS exceeded expectations at $0.54, and PriMatrix and Durepair were relaunched ahead of schedule. Full-year guidance was revised lower, with margin expansion and cost-saving initiatives underway.

Q2 2025 Q2 2025 2025-07-31

Q2 revenue exceeded guidance at $415.6M, but was down slightly year-over-year due to ship holds. Adjusted EPS was $0.45, with a $511M non-cash goodwill impairment. Full-year guidance was updated, with no new ship holds expected and cost savings initiatives underway.

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