INTEGRA LIFESCIENCES HOLDINGS CORP

Listed Company

IARTCIK 0000917520NasdaqLarge AcceleratedSurgical & Medical Instruments & ApparatusDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.64B

Net Income

$-516.47M

Total Assets

$3.60B

Equity

$1.04B

Shares Out

77.94M

Op. Cash Flow

$50.38M

Business

INTEGRA LIFESCIENCES HOLDINGS CORP is a global medical technology company that develops and commercializes products to advance surgical, neurologic, ENT and regenerative care. It manufactures and sells regenerative biomaterials, neurosurgical devices and instrumentation, ENT systems (including balloon dilation and navigation), intracranial pressure monitors, dural repair products and advanced wound care solutions. The company operates through two reportable segments: Codman Specialty Surgical (neurosurgery, ENT and specialty instruments) and Tissue Technologies (complex wound surgery, surgical reconstruction and peripheral nerve repair). Integra distributes products in more than 120 countries via a direct sales force, distributors and wholesalers and maintains manufacturing and R&D sites across North America, Europe and Asia.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total Revenue, net	1,635	1,611	1,542	1,558	1,542
Cost of goods sold	804	728	657	587	598
Research and development	99	115	104	101	93
Selling, general and administrative	700	717	657	616	637
Intangible asset amortization	15	21	12	14	17
Goodwill impairment charge	511	0	0	—	—
Total costs and expenses	2,129	1,582	1,430	1,319	1,345
Operating (loss) income	−493	28	112	239	197
Interest income	18	20	17	12	7
Interest expense	−86	−71	−51	−50	—
Other (expense) income, net	−2	4	4	12	19
(Loss) income before income taxes	−564	−18	81	214	215
(Benefit) provision for income taxes	−47	−11	13	33	46
Net (loss) income	−516	−7	68	181	169
Basic (in dollars per share)	−6.74	−0.09	0.85	2.18	2
Diluted (in dollars per share)	−6.74	−0.09	0.84	2.16	1.98
Basic (in shares)	77	77	80	83	85
Diluted (in shares)	77	77	80	84	85

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	235	246	276	457	513
Short-term investments	29	27	33	0	—
Trade accounts receivable, net of allowances of $7,230 and $6,917	279	272	259	263	232
Inventories, net	493	429	390	325	317
Prepaid expenses	96	77	67	86	—
Other current assets	28	30	33	31	—
Total current assets	1,160	1,082	1,058	1,161	1,154
Property, plant and equipment, net	444	406	340	311	312
Right of use asset - operating leases	141	144	156	148	85
Intangible assets, net	1,135	1,208	1,068	1,127	1,146
Goodwill	615	1,097	1,055	1,039	1,013
Deferred tax assets, net	70	35	46	46	57
Other assets	38	67	58	57	16
Total assets	3,602	4,037	3,782	3,890	3,782
Current portion of borrowings under senior credit facility	39	34	15	38	45
Short-term borrowings under securitization facility	88	0	—	—	—
Current portion of lease liability - operating leases	14	15	15	15	15
Convertible securities	0	573	0	—	—
Accounts payable, trade	96	83	92	102	62
Contract liabilities	12	10	9	7	5
Income tax payable	4	0	—	—	—
Accrued compensation	74	86	75	79	93
Accrued expenses and other current liabilities	130	122	101	80	120
Total current liabilities	456	922	307	321	340
Long-term borrowings under senior credit facility	1,730	1,088	826	733	824
Long-term borrowings under securitization facility	0	108	89	105	113
Lease liability - operating leases	163	167	167	157	90
Deferred tax liabilities	6	61	35	63	46
Other liabilities	204	146	200	139	120
Total liabilities	2,559	2,492	2,194	2,085	2,098
Preferred Stock; no par value; 15,000 authorized shares; none outstanding	0	0	0	0	0
Common stock; $0.01 par value; 240,000 authorized shares; 92,286 and 91,610 issued at December 31, 2025 and 2024, respectively	923,000	916,000	909,000	905,000	896,000
Additional paid-in capital	1,338	1,323	1,302	1,277	1,265
Treasury stock, at cost; 14,399 and 14,445 shares at December 31, 2025 and 2024, respectively	−689	−691	−647	−363	—
Accumulated other comprehensive (loss)	−30	−28	−15	10	−45
Retained earnings	423	940	947	879	699
Total stockholders equity	1,043	1,545	1,588	1,804	1,685
Total liabilities and stockholders equity	3,602	4,037	3,782	3,890	3,782

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	152	141	124	118	120
Non-cash impairment charges	511	12	0	0	3
Deferred income tax benefit	−66	−21	−12	−5	−3
Share-based compensation	19	24	20	28	36
Amortization of debt issuance costs and expenses associated with debt refinancing	6	6	6	7	7
Non-cash lease expense	−987,000	835,000	2	3	4
Lease incentive	1	8	0	0	—
Loss on disposal of property and equipment and construction in-progress	490,000	1	777,000	−7	2
Change in fair value of contingent consideration and others	−21	−6	13	−20	−2
Accounts receivable	−485,000	7	5	−34	7
Inventories	−47	−28	−60	−29	5
Prepaid expenses and other current assets	−3	−8	3	9	−21
Other non-current assets	3	−3	−9	−2	8
Accounts payable, accrued expenses and other current liabilities	27	−3	−20	17	33
Contract liabilities	3	4	128,000	4	28,000
Other non-current liabilities	−17	−93,000	−410,000	−4	−14
Net cash provided by operating activities	50	129	140	264	312
Purchases of property and equipment	−81	−104	−67	−42	−48
Purchases of intangible assets	−14	−10	0	0	—
Purchases of short-term investments	−9	−49	−33	0	0
Proceeds from maturities of short-term investments	7	55	0	0	—
Cash paid for business acquisitions, net of cash acquired	0	−278	0	−52	−304
Net (payment) proceeds on swaps designated as net investment hedges	−11	−4	5	5	76,000
Net cash used in investing activities	−108	−391	−94	−59	−161
Proceeds from borrowings of long-term indebtedness	721	487	165	41	26
Payments on debt	−95	−187	−111	−149	−126
Repayments of convertible debt	−575	0	0	—	—
Payment of debt issuance costs	−4	0	−8	0	−249,000
Purchase of treasury stock	−221,000	−52	−275	−125	0
Payments for contingent considerations	−16	−12	0	0	—
Proceeds from exercise of stock options and employee stock purchase plan	957,000	6	4	5	7
Cash taxes paid in net equity settlement	−3	−4	−6	−25	−5
Net cash provided by (used in) financing activities	28	238	−230	−252	−98
Effect of exchange rate changes on cash and cash equivalents	18	−6	4	−11	−9
Net decrease in cash and cash equivalents	−11	−30	−180	−57	43

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