Establishment Labs Holdings Inc. announced its financial results for the fourth quarter and full year ended December 31, 2024. Total revenue for Q4 2024 was $44.5 million, a significant increase from $31.6 million in Q4 2023, while full-year 2024 revenue reached $166.025 million.
The company reported $3.3 million in U.S. sales for Motiva implants in Q4 2024, following its approval, with momentum continuing to build. Gross profit for the fourth quarter improved to 68.5% of revenue, up from 65.2% in the prior year, driven by manufacturing efficiencies and higher U.S. average selling prices.
Operating expenses increased to $49.2 million in Q4 2024 due to investments in U.S. commercial infrastructure, but the net loss from operations narrowed to $18.7 million from $22.1 million in Q4 2023. Adjusted EBITDA loss also improved to $13.1 million from $17.4 million year-over-year.
Establishment Labs reaffirmed its full-year 2025 revenue guidance of $205 million to $210 million, with U.S. revenue expected to meaningfully exceed $35 million. The company is targeting its first positive Adjusted EBITDA quarter in the second half of 2025 and cash flow breakeven in 2026, supported by strong U.S. market entry and disciplined cost management.
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