Integra LifeSciences reported third‑quarter 2025 revenue of $402.1 million, up 5.6 % year‑over‑year and 5.0 % organically, slightly below consensus estimates of $406 million.
GAAP net loss was $5.4 million, or $0.07 per diluted share. Adjusted net income rose to $41.6 million, or $0.54 per diluted share, beating consensus adjusted EPS of $0.49.
Adjusted gross margin was 62.9 %, a decline of 10 basis points from 63.0 % in the same quarter last year, attributed to increased remediation costs, tariff impacts, and a higher mix of lower‑margin products, partially offset by stronger sales of neurosurgery and wound‑reconstruction items.
Codman Specialty Surgical generated $292.6 million in revenue, an 8.1 % reported increase and 7.1 % organic growth, driven by a 13.3 % rise in neurosurgery sales and a 7.6 % decline in instruments. Tissue Technologies posted $109.5 million, a 0.5 % reported decline and 0.3 % organic decline, with growth in Integra Skin and DuraSorb offset by a MediHoney recall.
For the fourth quarter, Integra guided reported revenue of $420 million to $440 million, a decline of 5.1 % to 0.6 % reported and 5.9 % to 1.4 % organic, and adjusted EPS of $0.79 to $0.84. Full‑year 2025 revenue guidance was updated to $1.620 billion to $1.640 billion, and adjusted EPS guidance remained $2.19 to $2.24 per share, reflecting conservative assumptions amid macro‑economic uncertainty and updated market assumptions for ENT and private‑label segments.
Management highlighted progress on its compliance master plan, noting that all internal manufacturing site assessments were completed ahead of schedule and no new material shipholds were identified in Q2. The company also emphasized disciplined cost management and operational efficiencies that helped offset supply‑chain disruptions, positioning it for a stronger fourth quarter and a steady recovery in the second half of the year.
The company’s debt stands at $1.8 billion with a leverage ratio of 4.3x as of Q3 2025. Leadership changes include President and CEO Mojdeh Poul, who succeeded Jan De Witte, and Chief Medical Officer Dr. Raymond Turner.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.