Integra LifeSciences (IART) investor relations material

Executive summary

• Q1 2026 revenue reached $391.9 million, up 2.4% reported and 1.3% organic year-over-year, exceeding guidance, driven by strong demand and improved supply chain visibility.

• Adjusted EPS was $0.54, up from $0.41 in Q1 2025, surpassing guidance, while GAAP EPS improved to $(0.06) from $(0.33) year-over-year.

• Leadership transition: Stuart Essig named President/CEO and Michael McBreen as Chief Commercial Officer, focusing on culture, commercial execution, and customer alignment.

• Operational improvements and transformation initiatives continued, supporting supply reliability and product relaunches.

• Net loss for Q1 2026 was $(4.6) million, a significant improvement from $(25.3) million in Q1 2025, due to reduced quality and operational issues.

Financial highlights

• Q1 2026 revenue: $391.9 million, up 2.4% year-over-year; adjusted EPS: $0.54, up 31.7% year-over-year.

• Adjusted EBITDA margin rose to 19.4%, up 280 basis points from Q1 2025.

• Adjusted gross margin improved to 64.1%, up 190 basis points year-over-year; GAAP gross margin increased to 55.4% from 50.8%.

• Operating cash flow was $9.8 million, a $21 million improvement year-over-year; free cash flow was -$5 million.

• Net income was $(4.6) million, improved from $(25.3) million in Q1 2025.

Outlook and guidance

• Full-year 2026 revenue guidance maintained at $1.66–$1.7 billion, with organic growth of 0.8%–3.3%.

• Adjusted EPS guidance raised to $2.40–$2.50, reflecting Q1 tariff benefits.

• Q2 2026 revenue expected at $410–$425 million; adjusted EPS guidance for Q2 is $0.44–$0.52.

• Sequential revenue increases anticipated through the year, with typical seasonality and supply improvements.

• Gross margin for 2026 expected at 62.5%, with quarterly variability due to tariffs and manufacturing variances.