Integra Lifesciences Holdings Corporation · NASDAQ:IART
Integra Lifesciences — Q3 2025 Earnings Presentation
19 slides from Integra Lifesciences's earnings presentation, Oct 30, 2025
Slide 1: Earnings Presentation Q3 2025
EA R N ING S P R E S E N T A T I O N Q3 2025 October 30, 2025
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 presentation. All statements, other than statements of
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 earnings per diluted share, adjuste
Slide 4: Advancing Our Priorities
Advancing Our Priorities Building a foundation for sustainable growth and profitability Compliance Master Plan Operational and Execution Delivering Our Financial Implementation Excellence Commitments Strengthening quality systems to Braintree facility remains on track to 5% organic growth, below ena
Slide 5: 2025 Q3 Financial Highlights
2025 Q3 Financial Highlights Grew 5% organically and improved profitability for the quarter Q3 REVENUE (IN $M) $402 $381 $0.54 +31.7% vs. 2024 62.9% (10 bps) vs. 2024 ADJUSTED EPS ADJUSTED GROSS MARGIN 19.5% +330 bps vs. 2024 $40.9M and (61.9%) FCF Conversion ADJUSTED EBITDA MARGIN OPERATING CASH FL
Slide 6: Codman Specialty Surgical Q3 Revenue
Codman Specialty Surgical Q3 Revenue Healthy Neurosurgery demand and favorable prior year comparative drove Q3 growth Q3 2025 Revenue Composition Q3 2025 REVENUE ENT 14.0% REPORTED $292.6M $270.8M 8.1% Q3 25 Q3 24 Growth ORGANIC1 $290.5M $271.2M 7.1% Neurosurgery Q3 25 Q3 24 Growth 68.7% 2 Q3 2025 G
Slide 7: Tissue Technologies Q3 Revenue
Tissue Technologies Q3 Revenue Core strength in wound reconstruction offset by MediHoney® Q3 2025 Revenue Composition ENT Q3 2025 REVENUE 13.8% REPORTED $109.5M $110.1M -0.5% Q3 25 Q3 24 Growth ORGANIC1 $109.4M $109.7M -0.3% Wound Reconstruction Q3 25 Q3 24 Growth 76.7% 2 Q3 2025 GROWTH AND PERFORMA
Slide 8: Balance Sheet and Cash Flow Performance
Balance Sheet and Cash Flow Performance Improving second-half 2025 cash flow generation OPERATING CASH FLOW, FREE CASH FLOW ($M) SUMMARY BALANCE SHEET ($M) & ADJ. FCF CONVERSION (%) 12/31/24 9/30/25 FCF Capex CASH AND CASH EQUIVALENTS $246 $232 $137.4 SHORT-TERM INVESTMENTS $27 $36 TOTAL DEBT $1,8
Slide 9: Q4 and FY 2025 Outlook
Q4 and FY 2025 Outlook Updating 2025 guidance to reflect third quarter performance Q4 2025 REPORTED REVENUE GUIDANCE BRIDGE ($M) Q4 2025 Organic Growth (at mid-point) $443 ~(3.6%) $420M - $440M REPORTED ~0.8% $420 - $440 Reported Growth -5.1% to -0.6% Organic Growth -5.9% to -1.4% $0.79 - $0.84 ADJU
Slide 10: Key 2025 Guidance Assumptions and Considerations
Key 2025 Guidance Assumptions and Considerations FY 2025 FX RATES Key Revenue Drivers for Q4 2025 EUR 0.86 Guidance to align more directly with demonstrated performance and seasonal volume increases JPY 152 CNY 7.14 Adj. Gross Margin Outlook ADJ. TAX RATE 17.5% Gross margins down ~260bps vs.
Slide 11: Advancing Our Priorities
Advancing Our Priorities Building a foundation for sustainable growth and profitability Compliance Master Plan Operational and Execution Delivering Our Financial Implementation Excellence Commitments Strengthening quality systems to Braintree facility remains on track to 5% organic growth, below ena
Slide 12: Appendix: Non-GAAP Reconciliations
APPENDIX Non-GAAP Reconciliations 12
Slide 13: Third Quarter 2025 Financial Results
Third Quarter 2025 Financial Results % of Revenues Q3 2025 Q3 2024 Change Q3 YTD 2025 Q3 YTD 2024 Change Total Revenues $402.1 $380.8 5.6% $1,200.3 $1,167.9 2.8% Gross Margin 51.5% 52.6% -110BPS 50.9% 54.2% -330BPS Adj. Gross Margin(1) 62.9% 63.0% -10BPS 61.9% 64.2% -230BPS Net Income ($5.4) ($10.7)
Slide 14: Third Quarter 2025 Organic Growth Reconciliation
Third Quarter 2025 Organic Growth Reconciliation (In millions) Q3 2025 Q3 2024 Q3 YTD 2025 Q3 YTD 2024 Neurosurgery $201.6 $176.0 $601.0 $583.7 Instruments $50.2 $54.2 $154.7 $153.2 ENT $40.9 $40.6 $121.6 $92.1 Total Codman Specialty Surgical $292.6 $270.8 $877.3 $829.0 Wound Reconstruction and Care
Slide 15: Adjusted Free Cash Flow Reconciliation
Third Quarter 2025 and 2024 (TTM) Adjusted Free Cash Flow Reconciliation (In millions) Q3 2025 Q3 2024 TTM 2025 TTM 2024 Net Cash from Operating Activities $40.9 $22.5 $89.3 $137.4 Purchases of Property and Equipment ($15.2) ($29.6) ($93.8) ($99.4) Free Cash Flow $25.8 ($7.2) ($4.5) $38.0 Adjusted N
Slide 16: Adjusted EBITDA Margin Reconciliation
Third Quarter 2025 Adjusted EBITDA Margin Reconciliation Q3 YTD Q3 YTD (In millions) Q3 2025 Q3 2024 2025 2024 GAAP Net Income ($5.4) ($10.7) ($514.8) ($26.4) Depreciation 11.3 10.2 32.7 30.5 Intangible asset amortization 26.9 25.6 80.1 78.7 Goodwill impairment charge 0.0 - 511.4 - Other (income), n
Slide 17: Adjusted Net Income & Adjusted EPS Reconciliation
Third Quarter 2025 Adjusted Net Income & Adjusted EPS Reconciliation (In millions) Q3 2025 Q3 2024 Q3 YTD 2025 Q3 YTD 2024 GAAP Net Income ($5.4) ($10.7) ($514.8) ($26.4) Acquisition, divestiture and integration-related charges(1) (6.6) 7.8 4.6 31.2 Structural optimization charges 11.1 5.7 27.7 15.3
Slide 18: Gross Margin Reconciliation
Third Quarter 2025 Gross Margin Reconciliation Q3 YTD Q3 YTD (In millions) Q3 2025 Q3 2024 2025 2024 Reported Gross Profit $207.0 $200.2 $610.8 $633.0 Structural optimization charges 8.4 3.7 17.9 12.0 Acquisition, divestiture and integration-related charges(1) 0.2 3.6 0.8 8.6 Boston Recall/Braintree
Slide 19: Net Debt Reconciliation
Third Quarter 2025 Net Debt Reconciliation Capitalization ($ in millions) 9/30/2025 12/31/2024 Short-term borrowings under senior credit facility 38.8 33.9 Long-term borrowings under senior credit facility 1,708.9 1,087.9 Borrowings under securitization facility 83.5 108.1 Convertible securities - 5
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