Integra Lifesciences Holdings Corporation · NASDAQ:IART
Integra Lifesciences — Q3 2026 Earnings Presentation
19 slides from Integra Lifesciences's earnings presentation, Oct 21, 2026
Slide 1: Earnings Presentation Q3 2026
EA RN INGS P R E S E N T A T I O N Q3 2026 October 21, 2026
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties and reflect the Company's judgment as of the date of this release. All statements, other than statements of hist
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures In addition to our GAAP results, we provide certain non-GAAP measures, including organic revenues, adjusted earnings before interest, taxes, depreciation and amortization ("EBITDA"), adjusted EBITDA margin, adjusted net income, adjusted gross profit, adjusted gross margin
Slide 4: Executing Our 2026 Priorities
Executing Our 2026 Priorities Strong cash generation and operational progress amid revenue headwinds Q3 2026 HIGHLIGHTS FULL YEAR OUTLOOK (0.3%) - 0.9% $2.30 - $2.40 $411M • At the low end of guidance • Specialty Surgery performed ahead of Organic Growth Adj. EPS Reported expectations, offset Tissue
Slide 5: 2026 Q3 Financial Highlights
2026 Q3 Financial Highlights Growing margins and cashflow Q3 REVENUE (in $M) $411 $402 $0.59 +9.3% vs. 2025 61.1% (180) bps vs. 2025 ADJUSTED EPS ADJUSTED GROSS MARGIN 19.4% (10) bps vs. 2025 $96.0M and 184.6% FCF Conversion ADJUSTED EBITDA MARGIN OPERATING CASH FLOW Q3 26 Q3 25 2.3% vs. 2025 2.5% v
Slide 6: Specialty Surgery Q3 Revenue
SPECIALTY SURGERY Q3 Revenue Improved product availability and continued demand strength Q3 2026 Revenue Composition ENT Q3 2026 REVENUE 13.3% REPORTED $304.1M $292.6M 3.9% Q3’26 Q3’25 Growth ORGANIC1 $304.9M $292.6M 4.2% Neuro Q3’26 Q3’25 Growth 70.4% 2 Q3 2026 GROWTH AND PERFORMANCE DRIVERS NEURO
Slide 7: Tissue Reconstruction Q3 Revenue
TISSUE RECONSTRUCTION Q3 Revenue DuraSorb® and PriMatrix® gains offset by UBM pressures and slower Integra Skin recovery. Q3 2026 Revenue Composition ENT 13.8% Q3 2026 REVENUE REPORTED $107.1M $109.5M (2.2%) Q3’26 Q3’25 Growth ORGANIC1 $107.1M $109.5M (2.2%) Wound Reconstruction Q3’26 Q3’25 Growth
Slide 8: Balance Sheet and Cash Flow Performance
Balance Sheet and Cash Flow Performance ~$90 million year-over-year improvement in operating cash flow through Q3 2026 OPERATING CASH FLOW, FREE CASH FLOW ($M) & SUMMARY BALANCE SHEET ($M) ADJUSTED FCF CONVERSION (%) 12/31/25 9/30/26 FCF Capex CASH AND CASH EQUIVALENTS $235 $252 $140.4 SHORT-TERM I
Slide 9: Q4 and FY 2026 Outlook
Q4 and FY 2026 Outlook Guidance reflects Cincinnati disruption, softer Tissue Reconstruction and refinancing Q4 2026 REPORTED REVENUE GUIDANCE BRIDGE ($M) Organic Growth (at mid-point) Q4 2026 $435 ~(2.7%) ~(0.1%) $413 - $433 $413M - $433M REPORTED Reported Growth -5.2% to -0.5% Organic Growth -5.1%
Slide 10: Key 2026 Guidance Assumptions and Considerations
Key 2026 Guidance Assumptions and Considerations FY 2026 REVENUE OUTLOOK FX RATES ▪ Q4 Specialty Surgery outlook (ex Cincinnati), in-line with July Guidance ▪ EUR/USD 1.15 ▪ Cincinnati flood impact of $15-20M in Q4, primarily impacting Neurosurgery ▪ Q4 Revenue outlook adjusted to reflect lower than
Slide 11: Appendix: Non-GAAP Reconciliations
APPENDIX Non-GAAP Reconciliations
Slide 12: Third Quarter 2026 Financial Results
Third Quarter 2026 Financial Results % of Revenue Q3 2026 Q3 2025 Change Q3 YTD 2026 Q3 YTD 2025 Change Total Revenues $411.2 $402.1 2.3% $1,221.9 $1,200.3 1.8% Gross Margin 51.0% 51.5% -40BPS 52.9% 50.9% +200BPS Adj. Gross Margin (1) 61.1% 62.9% -180BPS 62.1% 61.9% +20BPS Net Income $14.9 ($5.4) 37
Slide 13: Organic Growth Reconciliation
Third Quarter 2026 Organic Growth Reconciliation (In millions) Q3 2026 Q3 2025 Q3 YTD 2026 Q3 YTD 2025 Neurosurgery $214.1 $201.6 $625.6 $601.0 Instruments $49.7 $50.2 $151.7 $154.7 ENT $40.4 $40.9 $119.3 $121.6 Total Specialty Surgery $304.1 $292.6 $896.5 $877.3 Wound Reconstruction Solutions $81.5
Slide 14: Free Cash Flow & Adjusted Free Cash Flow Conversion Reconciliations
Third Quarter 2026 Free Cash Flow & Adjusted Free Cash Flow Conversion Reconciliations (In millions) Q3 2026 Q3 2025 TTM 2026 TTM 2025 Net Cash from Operating Activities $96.0 $40.9 $140.4 $89.3 Purchases of Property and Equipment ($10.2) ($15.2) ($54.6) ($93.8) Free Cash Flow $85.7 $25.8 $85.8 ($4.
Slide 15: Adjusted EBITDA Margin Reconciliation
Third Quarter 2026 Adjusted EBITDA Margin Reconciliation Q3 YTD Q3 YTD (In millions) Q3 2026 Q3 2025 2026 2025 GAAP Net Income $14.9 ($5.4) $14.7 ($514.8) Depreciation 10.3 11.3 31.7 32.7 Intangible asset amortization 26.8 26.9 80.8 80.1 Goodwill impairment charge - 0.0 - 511.4 Other (income), net (
Slide 16: Adjusted Gross Margin Reconciliation
Third Quarter 2026 Adjusted Gross Margin Reconciliation Q3 YTD Q3 YTD (In millions) Q3 2026 Q3 2025 2026 2025 Reported Gross Profit $209.9 $207.0 $646.6 $610.8 Cincinnati Flood 5.7 - 5.7 - Structural optimization charges 3.5 8.4 9.4 17.9 Acquisition, divestiture and integration-related charges (1) 0
Slide 17: Adjusted EPS Reconciliation
Third Quarter 2026 Adjusted EPS Reconciliation (In millions) Q3 2026 Q3 2025 Q3 YTD 2026 Q3 YTD 2025 GAAP Net Income $14.9 ($5.4) $14.7 ($514.8) Cincinnati Flood 0.8 - 0.8 - Acquisition, divestiture and integration-related charges (1) (3.0) (6.6) 1.2 4.6 Structural optimization charges 5.7 11.1 22.5
Slide 18: Adjusted SG&A Reconciliation
Third Quarter 2026 Adjusted SG&A Reconciliation (In millions) Q3 2026 Q3 2025 YTD 2026 YTD 2025 Reported SG&A $165.3 $169.0 $516.0 $530.4 Structural optimization charges 1.3 2.8 11.5 10.3 Acquisition, divestiture and integration-related charges (1) 2.2 (6.2) 5.1 3.9 Braintree Transition 0.0 0.5 0.2
Slide 19: Net Debt Reconciliation
Third Quarter 2026 Net Debt Reconciliation Capitalization ($ in millions) 9/30/2026 12/31/2025 Short-term borrowings under senior credit facility 48.4 38.8 Long-term borrowings under senior credit facility 1,697.0 1,729.6 Borrowings under securitization facility 81.2 87.8 Deferred financing costs ne
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