Integra Lifesciences Holdings Corporation · NASDAQ:IART
Integra Lifesciences — Q2 2026 Earnings Presentation
19 slides from Integra Lifesciences's earnings presentation, Jul 29, 2026
Slide 1: Earnings Presentation Q2 2026
EARNINGS P R E S E N T A T I O N Q2 2026 Ju l y 2 9 , 2 0 2 6
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 Transformation enabled strong execution and consistent, predictable performance Q2 2026 HIGHLIGHTS FULL YEAR OUTLOOK 0.8% - 3.3% $2.40 - $2.50 $419M + Within guidance range Organic Growth Adj. EPS + Reflects product demand, improved supply, increased visibility Maintain
Slide 5: 2026 Q2 Financial Highlights
2026 Q2 Financial Highlights Growing margins and cashflow Q2 REVENUE (in $M) $419 $416 $0.56 +24.4% vs. 2025 61.3% +60 bps vs. 2025 ADJUSTED EPS ADJUSTED GROSS MARGIN 18.7% +160 bps vs. 2025 $22.8M and 24.0% FCF Conversion ADJUSTED EBITDA MARGIN OPERATING CASH FLOW Q2 26 Q2 25 0.8% vs. 2025 0.7% vs.
Slide 6: Specialty Surgery Q2 Revenue
SPECIALTY SURGERY Q2 Revenue Continued strong demand in Neurosurgery Q2 2026 Revenue Composition ENT Q2 2026 REVENUE 13.3% REPORTED $309.3M $304.0M 1.7% Q2’26 Q2’25 Growth ORGANIC1 $308.9M $304.0M 1.6% Neuro Q2’26 Q2’25 Growth 69.0% 2 Q2 2026 GROWTH AND PERFORMANCE DRIVERS NEURO INSTRUMENTS ENT3 I
Slide 7: Tissue Reconstruction Q2 Revenue
TISSUE RECONSTRUCTION Q2 Revenue Growth in DuraSorb® and PriMatrix® relaunch largely offset by prior year comparison Q2 2026 Revenue Composition ENT 13.8% Q2 2026 REVENUE REPORTED $109.5M $111.6M (1.9%) Q2’26 Q2’25 Growth ORGANIC1 $109.4M $111.6M (2.0%) Wound Reconstruction Q2’26 Q2’25 Growth Solut
Slide 8: Balance Sheet and Cash Flow Performance
Balance Sheet and Cash Flow Performance ~$35 million improvement in 1H 2026 operating cash flow vs prior year OPERATING CASH FLOW, FREE CASH FLOW ($M) & SUMMARY BALANCE SHEET ($M) ADJUSTED FCF CONVERSION (%) 12/31/25 6/30/26 FCF Capex CASH AND CASH EQUIVALENTS $235 $214 $70.9 SHORT-TERM INVESTMENTS
Slide 9: Q3 and FY 2026 Outlook
Q3 and FY 2026 Outlook Reaffirmed Full Year Organic Growth and Adj EPS Guidance Q3 2026 REPORTED REVENUE GUIDANCE BRIDGE ($M) Organic Growth (at mid-point) Q3 2026 ~3.8% ~0.0% $410 - $425 $410M - $425M REPORTED Reported Growth 2.0% to 5.7% $402 Organic Growth 1.9% to 5.7% $0.53 - $0.61 ADJUSTED EPS
Slide 10: Key 2026 Guidance Assumptions and Considerations
Key 2026 Guidance Assumptions and Considerations FY 2026 REVENUE OUTLOOK FX RATES ▪ 2H Revenue increase reflects normal seasonality and continued improvement in supply ▪ EUR/USD 1.15 ▪ Reported revenue updated to reflect the FX impact of the stronger US dollar ▪ USD/JPY 161 ADJUSTED GROSS MARGINS EX
Slide 11: Appendix: Non-GAAP Reconciliations
APPENDIX Non-GAAP Reconciliations
Slide 12: Second Quarter 2026 Financial Results
Second Quarter 2026 Financial Results % of Revenue Q2 2026 Q2 2025 Change Q2 YTD 2026 Q2 YTD 2025 Change Total Revenues $418.8 $415.6 0.8% $810.7 $798.3 1.6% Gross Margin 52.5% 50.4% +210BPS 53.9% 50.6% +330BPS Adj. Gross Margin (1) 61.3% 60.7% +60BPS 62.7% 61.4% +130BPS Net Income $4.5 ($484.1) 100
Slide 13: Organic Growth Reconciliation
Second Quarter 2026 Organic Growth Reconciliation (In millions) Q2 2026 Q2 2025 Q2 YTD 2026 Q2 YTD 2025 Neurosurgery $213.3 $209.0 $411.5 $399.9 Instruments $54.8 $53.1 $102.0 $104.0 ENT $41.2 $41.9 $78.9 $80.7 Total Specialty Surgery $309.3 $304.0 $592.4 $584.6 Wound Reconstruction Solutions $81.3
Slide 14: Free Cash Flow & Adjusted Free Cash Flow Conversion Reconciliations
Second Quarter 2026 Free Cash Flow & Adjusted Free Cash Flow Conversion Reconciliations (In millions) Q2 2026 Q2 2025 TTM 2026 TTM 2025 Net Cash from Operating Activities $22.8 $8.9 $85.3 $70.9 Purchases of Property and Equipment ($12.3) ($20.1) ($59.5) ($108.3) Free Cash Flow $10.5 ($11.2) $25.8 ($
Slide 15: Adjusted EBITDA Margin Reconciliation
Second Quarter 2026 Adjusted EBITDA Margin Reconciliation Q2 YTD Q2 YTD (In millions) Q2 2026 Q2 2025 2026 2025 GAAP Net Income $4.5 ($484.1) ($0.1) ($509.4) Depreciation 10.2 11.0 21.4 21.4 Intangible asset amortization 27.0 26.8 54.0 53.3 Goodwill impairment charge - 511.4 - 511.4 Other (income),
Slide 16: Adjusted EPS Reconciliation
Second Quarter 2026 Adjusted EPS Reconciliation (In millions) Q2 2026 Q2 2025 Q2 YTD 2026 Q2 YTD 2025 GAAP Net Income $4.5 ($484.1) ($0.1) ($509.4) Acquisition, divestiture and integration-related charges (1) 2.4 5.0 4.2 11.2 Structural optimization charges 7.5 5.9 16.8 16.6 Braintree Transition 9.9
Slide 17: Adjusted Gross Margin Reconciliation
Second Quarter 2026 Adjusted Gross Margin Reconciliation Q2 YTD Q2 YTD (In millions) Q2 2026 Q2 2025 2026 2025 Reported Gross Profit $219.7 $209.3 $436.7 $403.8 Structural optimization charges 3.4 5.2 6.0 9.5 Acquisition, divestiture and integration-related charges (1) 0.0 0.0 0.1 0.7 Braintree Tran
Slide 18: Adjusted SG&A Reconciliation
Second Quarter 2026 Adjusted SG&A Reconciliation (In millions) Q2 2026 Q2 2025 YTD 2026 YTD 2025 Reported SG&A $172.4 $179.9 $350.7 $361.4 Structural optimization charges 4.1 1.1 10.2 7.5 Acquisition, divestiture and integration-related charges (1) 1.5 4.3 2.9 10.1 Braintree Transition (0.4) 0.1 0.2
Slide 19: Net Debt Reconciliation
Second Quarter 2026 Net Debt Reconciliation Capitalization ($ in millions) 6/30/2026 12/31/2025 Short-term borrowings under senior credit facility 43.6 38.8 Long-term borrowings under senior credit facility 1,736.1 1,729.6 Borrowings under securitization facility 92.6 87.8 Convertible securities - -
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