Integra Lifesciences Holdings Corp
Q3 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: +0.25%.
Did IART Beat Earnings? Q3 2025 Results
Integra LifeSciences delivered a mixed third quarter, posting adjusted EPS of $0.54 that cleared the $0.43 consensus estimate by 24.14%, even as revenue of $402.06 million fell short of the $414.31 million analysts had expected. The top line still grew 5.6% year-over-year, but supply interruptions, including a Medihoney recall and softer private label demand, weighed on results, most visibly in the Tissue Technologies segment, which slipped 0.5% to $109.48 million. The stronger earnings story came from disciplined cost management, with adjusted EBITDA expanding to $78.45 million and margins improving 330 basis points to 19.5%. The company's Codman Specialty Surgical segment provided the clearest bright spot, rising 8.1% to $292.58 million, led by 13.3% organic growth in Neurosurgery. A recent FDA clearance for the CUSA Clarity system in cardiac surgery adds a potential new revenue avenue heading into 2026. Looking ahead, Integra revised full-year 2025 guidance to revenue of $1.62 billion to $1.64 billion and adjusted EPS of $2.19 to $2.24, while its Braintree facility remains on track for a June 2026 production restart.
- 13.3% organic growth in Neurosurgery driven by Certas Plus, DuraGen, CereLink, and Mayfield capital
- ~25% growth in Integra Skin enabled by improved supply
- ~50% growth in DuraSorb
- Disciplined cost management and operational efficiencies driving strong profitability
- Adjusted EBITDA margin expanded to 19.5% from 16.2% year-over-year
“In the third quarter, we continued to see healthy demand across our portfolio. While revenue was impacted by two supply interruptions, we delivered strong profitability and cash flow through disciplined cost management and operational efficiencies.”
Integra LifeSciences CEO, on the earnings call
Forward Guidance & Outlook
For Q4 2025, the company expects reported revenues of $420 million to $440 million, representing reported growth of (5.1%) to (0.6%) and organic growth of (5.9%) to (1.4%), with adjusted EPS of $0.79 to $0.84. For the full year 2025, revenue guidance is updated to $1.620 billion to $1.640 billion (reported growth of 0.6% to 1.8%, organic growth of (1.6%) to (0.4%)), with adjusted EPS of $2.19 to $2.24. The Braintree facility is on track to resume production in June 2026, supporting SurgiMend relaunch in Q4 2026. A margin expansion program is on track to remove $25 to $30 million of cost in 2026 through productivity and efficiency initiatives.
IART YoY Financials
IART Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.