Slide 1: Second Quarter 2025 Earnings Conference Call
Integer Holdings Corporation Second Quarter 2025 Earnings Conference Call July 24, 2025
Slide 2: Earnings Conference Call Details and Management Attendees
Integer Holdings Corporation Second Quarter 2025 Earnings Conference Call 9 a.m. Eastern Time, July 24, 2025 Management Attendees: Joe Dziedzic • A webcast of today’s call can be President, accessed in the “Investor Relations” Chief Executive Officer section of the Company’s website: investor.intege
Slide 3: Presentation of Financial Information & Forward-Looking Statements
Presentation of Financial Information & Forward-Looking Statements Important Information This presentation contains summarized information concerning Integer Holdings Corporation (the “Company”) and its business, operations, financial performance and trends. The historical financial and operating da
Slide 4: Agenda
Agenda • Opening Remarks • Financial Results • 2025 Outlook • Wrap-up • Q&A ITGR: 2Q25 Earnings Conference Call | July 24, 2025 | Page 4
Slide 5: Opening Remarks
Opening Remarks
Slide 6: Summary
Summary Strong sales and Continued strong performance with 2Q25 financial results profit growth in 2Q25 • Sales up 11% compared to 2Q24 … organic sales up 11% • Adjusted operating income up 15% vs 2Q24 Raising adjusted • Adjusted EPS of $1.55 vs $1.30 in 2Q24 … up 19% operating income outlook $2 mil
Slide 7: Financial Results
Financial Results
Slide 8: 2Q25 Financial Results
2Q25 Financial Results ($ in millions, except per share amounts) Sales Adj. EBITDA Adj. Operating Income Adj. Net Income % Change 11% 10% 15% 23% $476 $428 $99 $90 $81 $71 $55 $45 2Q24 2Q25 2Q24 2Q25 2Q24 2Q25 2Q24 2Q25 Adjusted EPS Organic Sales Change: 11% $1.30 $1.55 Note: Organic Sales Change, A
Slide 9: Cardio & Vascular
(1) % of Sales Cardio & Vascular ($ in millions) 58% Offering a full-range of products and services for catheter-based interventional vascular devices and a suite of supply chain solutions to support the development and manufacturing of complex components, sub-assemblies and finished devices Quarter
Slide 10: CRM & Neuromodulation
(1) % of Sales CRM & Neuromodulation ($ in millions) 37% Providing technology solutions for the active implantable medical device industry by partnering with customers to bring high-quality products to established and emerging markets – from initial concept through high-volume manufacturing Quarterl
Slide 11: 2Q25 Adjusted Net Income
2Q25 Adjusted Net Income ($ in millions, except per share amounts) Note: Adjusted Net Income, Adjusted EPS and Adjusted Weighted Average Shares are non-GAAP ITGR: 2Q25 Earnings Conference Call | July 24, 2025 | Page 11 financial measures; refer to “Non-GAAP Financial Measures” in the Appendix
Slide 12: Cash Flow & Leverage Ratio
Cash Flow & Leverage Ratio ($ in millions) Cash Flow From Ops Free Cash Flow Highlights $72 $63 $46 $44 $47 $44 Strong free cash growth in $31 $25 2Q25 … up $9 million, $16 +55% compared to 2Q24 $6 2Q24 3Q24 4Q24 1Q25 2Q25 2Q24 3Q24 4Q24 1Q25 2Q25 $19 million of capex spending in 2Q25 … in-line
Slide 13: 2025 Outlook
2025 Outlook
Slide 14: 2025 Full Year Outlook
2025 Full Year Outlook ($ in millions, except per share amounts) Sales Adj. EBITDA Adj. Operating Income Adj. Net Income % Change 8% - 9% 11% - 16% 12% - 16% 21% - 26% $1,850 - $1,876 $402 - $418 $1,717 $361 $319 - $331 $285 $222 - $231 $184 2024 2024 2025 2025 2024 2024 2025 2025 2024 2024 2025 202
Slide 15: 2025 Financial Outlook
2025 Financial Outlook ($ in millions) +86bps Adj Operating Full Year Outlook Income 17.4% % of sales • 8% to 9% reported sales growth … $1,863 million at midpoint 16.6% +8% - 9% • 6% to 8% organic sales growth +6% - 8% • +86bps AOI as a % of sales improvement $1,850 - $1,876 at midpoint of 2025 out
Slide 16: 2025 Cash Flow Outlook
2025 Cash Flow Outlook ($ in millions) Cash Flow From Ops Free Cash Flow Net Total Debt Leverage CAPEX Target: 2.5x - 3.5x $120 $110 - $120 $235 - $255 $105 $205 $120 - $140 $1,115 - $1,135 $180 $950 $954 $100 3.1x 2.5x - 3.5x $60 2.6x 2023 2023 2024 2024 2025 2023 2023 2024 2025 2023 YE23 2024 YE24
Slide 17: Wrap-up
Wrap-up
Slide 18: Wrap-up
Wrap-up Continued strong performance with 2Q25 financial results • Sales up 11% compared to 2Q24 … organic sales up 11% • Adjusted operating income up 15% vs 2Q24 • Adjusted EPS of $1.55 vs $1.30 in 2Q24 … up 19% Raising midpoint of adjusted operating income and EPS outlook • Sales $1,850 to $1,876
Slide 19: Integer Investment Thesis
Integer Investment Thesis Strategy Financial Objectives •1 Sales growth 200 basis points above market •2 Operating profit 2x sales growth rate •3 Debt leverage 2.5x – 3.5x Resilient Compelling Performance Financial Business Model Strategy for Growth Culture Strength Sustainable mid-single-digit
Slide 20: Questions?
Questions? Questions?
Slide 21: Appendix
Appendix
Slide 22: 2025 Outlook
2025 Outlook(a) ($ in millions, except per share amounts) ITGR: 2Q25 Earnings Conference Call | July 24, 2025 | Page 22
Slide 23: 2025 Supplemental Financial Information
2025 Supplemental Financial Information ($ in millions) ITGR: 2Q25 Earnings Conference Call | July 24, 2025 | Page 23
Slide 24: Historical Financial Results
Historical Financial Results ($ in millions, except per share amounts) (1) Sales Adjusted EPS $476 $449 $18 $431 $437 $428 $24 $405 $408 $25 $18 $390 $397 $28 $29 $29 $357 $365 $27 $23 $172 $28 $28 $171 $160 $168 $165 $160 $153 $157 $154 $143 $146 $1.55 $1.41 $1.43 $1.43 $1.29 $1.30 $1.31 $1.13 $1.1
Slide 25: Capitalization
Capitalization ($ in millions) (1) Net Total Debt, Adjusted EBITDA and Leverage Ratio are non-GAAP financial measures; ITGR: 2Q25 Earnings Conference Call | July 24, 2025 | Page 25 refer to “Non-GAAP Financial Measures” in the Appendix
Slide 26: Product Line Review
Product Line Review
Slide 27: Year-over-Year Sales Trend, Trailing Quarters
Year-over-Year Sales Trend, Trailing 4 Quarters (1) Integer Cardio & Vascular % of Sales 58% 17% 17% 15% 14% 14% 2Q24 3Q24 4Q24 1Q25 2Q25 13% 11% 10% 9% 10% (1) CRM & Neuromodulation % of Sales 37% 38% 11% 7% 8% 6% 5% 2Q24 3Q24 4Q24 1Q25 2Q25 2Q24 3Q24 4Q24 1Q25 2Q25 Delivering on sales growth objec
Slide 28: Other Markets
(1) % of Sales Other Markets ($ in millions) 5% Includes products from the divested AS&O product line, the Portable Medical market exit, and other products not included in Cardio & Vascular, and CRM & Neuromodulation Quarterly Sales $28 $25 $24 $18 $18 • 2Q25 sales decreased 38% year-over-year drive
Slide 29: Non-GAAP Financial Measures
Non-GAAP Financial Measures
Slide 30: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation may contain the non-GAAP financial measures defined in the table below. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the financial schedules accompanying the earnings releas
Slide 31: Non-GAAP Reconciliation
Non-GAAP Reconciliation 2Q25 Net Income and Diluted EPS Reconciliation – Detailed View ($ in thousands, except per share amounts) 2025 2024 GAAP Non-GAAP Non-GAAP As Reported, Recast for Restructuring and Continuing Amortization of restructuring- Acquisition and Other general Debt / Investment Opera
Slide 32: Non-GAAP Reconciliation
Non-GAAP Reconciliation YTD Net Income and Diluted EPS Reconciliation – Detailed View ($ in thousands, except per share amounts) 2025 2024 GAAP Non-GAAP Non-GAAP As Reported, Recast for Restructuring and Continuing Amortization of restructuring- Acquisition and Other general Debt / Investment Operat
Slide 33: Contact Information
Contact Information Kristen Stewart, CFA Director, Investor Relations kristen.stewart@integer.net (M) 551.337.3973 www.integer.net