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Investors who lost money on Integra LifeSciences Holdings Corporation ("Integra" or the "Company") stock may have claims to recover their losses. [url="]Glancy

BENSALEM, Pa.--(BUSINESS WIRE)--Investors who suffered losses on Integra LifeSciences Holdings Corporation ("Integra" or the "Company") stock may have claims to recover those losses. The Law Offices of Howard G. Smith today reported that it is conducting a securities fraud investigation on behalf of Integra LifeSciences Holdings Corporation (NASDAQ: IART) investors into whether the Company may have violated the federal securities laws. The investigation comes after a October 2, 2026 disclosure c.

New York, New York--(Newsfile Corp. - October 21, 2026) - The law firm of Kirby McInerney LLP continues its investigation on behalf of Integra LifeSciences Holdings Corporation ("Integra" or the "Company") (NASDAQ: IART) investors concerning the Company's and/or members of its senior management's possible violation of the federal securities laws and other unlawful business practices. [CONTACT THE FIRM IF YOU SUFFERED A LOSS] What Happened?

Integra LifeSciences Holdings Corporation (IART) Q3 2026 Earnings Call October 21, 2026 8:30 AM EDT

Company Participants

Christopher Ward - Senior Director of Investor Relations
Stuart Essig - CEO, President & Chairman
Lea Knight - Executive VP & CFO

Conference Call Participants

Matthew Taylor - Jefferies LLC, Research Division
Ryan Zimmerman - BTIG, LLC, Research Division
Elaine Cui - Raymond James & Associates, Inc., Research Division
Ravi Misra - Truist Securities, Inc., Research Division
Ross Osborn - Wells Fargo Securities, LLC, Research Division
Rei Tan - BofA Securities, Research Division
Vikramjeet Chopra - BMO Capital Markets Equity Research

Presentation

Operator

Good day, and welcome to the Integra LifeSciences Third Quarter 2026 Financial Results. [Operator Instructions] Please note, this call may be recorded. I would now like to turn the call over to Chris Ward, Senior Director, Investor Relations.

Christopher Ward
Senior Director of Investor Relations

Good morning, and thank you for joining the Integra LifeSciences Third Quarter 2026 Earnings Conference Call. Joining me on the call are Stuart Essig, Chairman and Chief Executive Officer; and Lea Knight, Chief Financial Officer. We issued a press release this morning announcing our third quarter 2026 financial results. The release and earnings presentation we reference during the call are available at integralife.com under Investors, Events and Presentations in a file named Third Quarter 2026 Earnings Presentation.

Before we begin, I want to remind you that many statements made during this call may be considered forward-looking. Factors that could cause actual results to differ materially are discussed in the company's Exchange Act reports that we filed with the SEC. These factors are also detailed in the release. Also, in our prepared remarks, we will reference reported and organic revenue growth.

Organic revenue growth excludes the effects of foreign currency, acquisitions and divestitures. Unless otherwise stated, all disaggregated and franchise level revenue growth rates are

Although the revenue and EPS for Integra (IART) give a sense of how its business performed in the quarter ended September 2026, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

PRINCETON, N.J., Oct. 21, 2026 (GLOBE NEWSWIRE) -- Integra LifeSciences Holdings Corporation (Nasdaq: IART), a leading global medical technology company, today reported financial results for the third quarter ending September 30, 2026.

Third Quarter 2026 Highlights

Third quarter revenues of $411.2 million increased 2.3% on a reported basis and 2.5% on an organic basis compared to the prior year. Results included an approximate $7 million revenue impact related to flood damage at the Company’s Cincinnati facility.Third quarter GAAP earnings per diluted share of $0.19, compared to $(0.07) in the prior year. Adjusted earnings per diluted share of $0.59, compared to $0.54 in the prior year.Generated operating cash flow of $96.0 million and reduced the consolidated total leverage ratio to 3.8x.Subsequent to quarter-end, completed a $2.1 billion debt refinancing that extended debt maturities and enhanced financial flexibility.2026 full-year revenue guidance of $1.634 billion to $1.654 billion and adjusted earnings per share guidance of $2.30 to $2.40, consistent with the outlook provided on October 2, 2026.
"Our third quarter performance reflected mixed results across our portfolio, with stronger performance in Specialty Surgery partially offset by a $7 million impact from the Cincinnati disruption and softer-than-expected results in Tissue Reconstruction. We delivered results within our guidance ranges, generated strong cash flow, reduced leverage, and subsequently completed our debt refinancing," said Stuart Essig, Chairman and Chief Executive Officer.

"Our updated outlook reflects both the recovery timeline in Cincinnati and more measured expectations for portions of our Tissue Reconstruction business. We are focused on executing against these challenges while continuing to support our customers, advance key product launches and returns, and strengthen the business for more consistent long-term growth."                             

Third Quarter 2026 Consolidated Performance

Total reported revenues of $411.2 million increased 2.3% on a reported basis and 2.5% on an organic basis compared to the prior year.

The Company reported GAAP gross margin of 51.0%, compared to 51.5% in the third quarter of 2025. Adjusted gross margin was 61.1%, compared to 62.9% in the prior year.

Adjusted EBITDA for the third quarter of 2026 was $79.8 million, or 19.4% of revenue, compared to $78.5 million, or 19.5% of revenue, in the prior year.

The Company reported GAAP net income of $14.9 million, or $0.19 per diluted share, in the third quarter of 2026, compared to GAAP net loss of $(5.4) million, or $(0.07) per diluted share, in the prior year.

Adjusted net income for the third quarter of 2026 was $46.4 million, or $0.59 per diluted share, compared to $41.6 million, or $0.54 per diluted share, in the prior year.

Third Quarter 2026 Segment Performance

Specialty Surgery (~70% of Revenues)

Total revenues were $304.1 million, representing reported growth of 3.9% and an organic growth of 4.2% compared to the third quarter of 2025. Results were impacted by approximately $7 million related to flood damage at the Company’s Cincinnati facility.

Sales in Neuro increased 6.5% on an organic basis primarily driven by growth in CereLink®, Certas® Plus, Bactiseal®, DuraSeal® and recovery in cranial perforators.Sales in Instruments declined (0.9%) on an organic basis due to order timing.ENT sales declined (1.1%), largely due to a low-single digit decline in sinus balloons.
Tissue Reconstruction (~30% of Revenues)

Total revenues were $107.1 million, representing reported and organic decline of (2.2)% compared to the third quarter of 2025. Key drivers for the quarter include:

Low-single digit decline in wound reconstruction, with strong growth in DuraSorb® and PriMatrix®, offset by declines in MicroMatrix® and Integra Skin.Beginning this quarter, we are referring to our Private Label business as Corporate Partnerships, a name that better reflects the nature of these customer relationships. Corporate Partnerships, was approximately flat compared to the third quarter of last year. Balance Sheet, Cash Flow and Capital Allocation

The Company generated cash flow from operations of $96.0 million in the quarter. Net debt at the end of the quarter was $1.5 billion, and the consolidated total leverage ratio was 3.8x.

As of the end of the quarter, the Company had total liquidity of approximately $559 million, including $311.9 million in cash plus short-term investments and the remainder available under its revolving credit facility.

Debt Refinancing and Enhanced Financial Flexibility

On October 19, 2026, the Company completed a $2.1 billion debt refinancing consisting of a $1.65 billion senior secured credit facility and $450 million aggregate principal amount of 9.5% senior secured notes due 2033. The new credit facility consists of a $600 million Term Loan A, a $600 million revolving credit facility, and a $450 million Term Loan B.

The Company used the proceeds from the refinancing to repay its existing credit facilities and pay related fees and expenses. The transaction extended the Company’s debt maturity profile, enhanced financial flexibility, and supports the Company's continued focus on cash generation and deleveraging. Additional information regarding the refinancing is available in the Company’s filings with the Securities and Exchange Commission.

Related to the refinancing, the amended debt covenants provide additional near-term covenant capacity by temporarily increasing the Company’s maximum allowable net leverage ratio from its current level followed by scheduled step-downs to 4.25x during 2027. Under the previous covenants the step down for 2027 was to 4.0x. The Company expects the increase in its effective interest rate to be near the high end of the previously communicated 100- to 200-basis-point range.

2026 Revenue and Adjusted Earnings Per Share Guidance

For the fourth quarter of 2026, the Company expects reported revenues in the range of $413 million to $433 million, representing a reported decline of -5.2% to -0.5% and an organic decline of -5.1% to -0.4%. The Company expects adjusted earnings per diluted share in the range of $0.61 to $0.71.

For the full year 2026, the Company expects revenues in the range of $1.634 billion to $1.654 billion representing reported growth of -0.1% to 1.2% and organic growth of -0.3% to 0.9%. The Company expects adjusted earnings per diluted share in the range of $2.30 to $2.40. The Company continues to expect operating cash flow of approximately $190 million to $200 million for the full year. These expectations are consistent with the preliminary results and updated guidance provided on October 2, 2026.

The updated fourth quarter and full-year outlook reflects the expected revenue impact of the Cincinnati disruption, an updated outlook for Tissue Reconstruction performance, and a consistent outlook for Specialty Surgery. The adjusted earnings per diluted share outlook also reflects business interruption insurance recoveries for lost revenue related to the Cincinnati disruption and incremental interest expense associated with the refinancing.

Conference Call and Presentation Available Online

Integra has scheduled a conference call for 8:30 a.m. ET on Wednesday, October 21, 2026, to discuss third quarter 2026 financial results and forward looking financial guidance. The conference call will be hosted by Integra's senior management team and will be open to all listeners. Additional forward looking information may be discussed in a question and answer session following the call. Integra's management team will reference a presentation during the conference call, which can be found in the Investor Relations section of the Company's website at investor.integralife.com. A live webcast will also be available in the Investor Relations section of the Company's website at investor.integralife.com.

A live webcast will be available on the Investors section of the Company’s website at investor.integralife.com. For those planning to participate on the call, register here to receive dial-in details and an individual pin. While not required, it is recommended to join 10 minutes prior to the event’s start. A webcast replay of the conference call will be available on the Investors section of the company's website following the call.

About Integra

Integra LifeSciences (Nasdaq: IART) is a global medical technology leader dedicated to restoring lives. We are advancing transformational care through impactful innovation in neurosurgery and tissue reconstruction, specialized fields that demand exceptional expertise and precision. Our portfolio of highly differentiated, gold-standard technologies are trusted by healthcare professionals to deliver life-saving care. For our latest news and information, visit www.integralife.com.

Forward-Looking Statements

This news release 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 historical fact, are statements that could be deemed forward-looking statements. Some of these forward-looking statements may contain words like “will,” “believe,” “may,” “could,” “would,” “might,” “possible,” “should,” “expect,” “intend,” "forecast," "guidance," “plan,” “anticipate,” "target," or “continue,” the negative of these words, other terms of similar meaning or they may use future dates. Forward-looking statements contained in this news release include, but are not limited to, statements concerning: future business, operational and financial performance and the Company’s expectations and plans with respect to market opportunity, business and operational performance, strategic initiatives, capabilities, resources, manufacturing capabilities, product development, product availability and regulatory approvals, including expectations regarding the Company's Braintree facility and the relaunch of SurgiMend in the fourth quarter of 2026, and the estimated impact of the flooding event at our Cincinnati, Ohio manufacturing facility (the “Cincinnati facility”), including on our financial condition and results of operations, and our expectations and progress in our recovery efforts, including timing, costs and expected insurance coverage and reimbursements. It is important to note that the Company’s goals and expectations are not predictions of actual performance. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from predicted or expected results. Such risks and uncertainties include, but are not limited, to the following: increased geopolitical instability and other macroeconomic factors, including trade barriers and related restrictions (including tariffs and related countermeasures), armed conflict and acts of terrorism, geopolitical tension and instability, supply chain disruptions, and interest rate and foreign currency rate fluctuations, on the Company’s suppliers, vendors and customers and on the Company’s business and financial condition, results of operations and cash flows; the Company's ability to execute its financial, strategic and operating plans effectively; the Company's ability to remediate quality systems violations; difficulties in implementing the Company’s compliance master plan; difficulties or delays in obtaining and maintaining required regulatory approvals, including the costs thereof; potential difficulties, delays and disruptions in manufacturing, distribution or sale of products; difficulties or delays, including unexpected costs and the availability of insurance coverage and reimbursements, related to the Company's Cincinnati facility recovery efforts; the failure of the company’s suppliers, vendors, and other third parties to meet contractual, regulatory and other obligations; the anticipated development of markets the Company sells its products into and the success of the Company’s products in these markets; the Company’s ability to predict accurately the demand for its products and products under development; increasing industry competition; the coverage and reimbursement decisions of third-party payors; trends toward health care cost containment; difficulties in controlling expenses, including costs to procure and manufacture the Company’s products; the ability of the Company to successfully manage leadership and organizational changes and the impact of changes in management or staff levels; the impact of goodwill and intangible asset impairment charges if future operating results of acquired businesses are significantly less than the results anticipated at the time of the acquisitions, the geographic distribution of where the Company generates its taxable income; changes to applicable laws, regulations and enforcement guidance, including tax laws and global health care reforms; fluctuations in foreign currency exchange rates; the amount of our bank borrowings outstanding and other factors influencing liquidity; breaches, failures or other disruptions of our or our vendors’ or customers’ information technology systems or products; and the economic, competitive, governmental, technological, and other risk factors and uncertainties identified under the heading “Risk Factors” included in Item 1A of Integra's Annual Report on Form 10-K for the year ended December 31, 2025 and information contained in subsequent filings with the Securities and Exchange Commission.

These forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events, or otherwise, except as otherwise required by law.

Discussion of Adjusted 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 net income, adjusted gross margin, adjusted earnings per diluted share, and net debt. Organic revenues consist of total revenues excluding the effects of currency exchange rates, revenues from current-period acquisitions and product divestitures. Adjusted EBITDA consists of GAAP net income excluding: (i) depreciation and amortization; (ii) other income (expense); (iii) interest income and expense; (iv) income tax expense (benefit); (v) impairment charges; and (vi) those operating expenses also excluded from adjusted net income.   The measure of adjusted net income consists of GAAP net income, excluding: (i) structural optimization charges; (ii) divestiture, acquisition and integration-related charges; (iii) EU Medical Device Regulation-related charges; (iv) charges related to the transition of Boston-related manufacturing operations to the Company’s Braintree, Massachusetts facility (the "Braintree transition"); (v) charges related to the flooding of the Company’s Cincinnati, Ohio manufacturing facility, including inventory losses, asset write-offs, remediation costs, plant restart costs and other directly related costs, net of associated insurance reimbursements, as applicable (the “Cincinnati flood and recovery”); (vi) intangible asset amortization expense; (vii) income tax impact from adjustments; and (vii) impairment charges. The measure of adjusted gross margin is calculated by dividing adjusted gross profit by total revenues. Adjusted gross profit consists of GAAP gross profit adjusted for: (i) structural optimization charges; (ii) divestiture, acquisition and integration-related charges; (iii) charges related to Braintree transition; (iv) EU Medical Device Regulation-related charges; (v) charges related to the Cincinnati flood and recovery; and (vi) intangible asset amortization expense. The adjusted earnings per diluted share measure is calculated by dividing adjusted net income attributable to diluted shares by diluted weighted average shares outstanding. The measure of net debt consists of GAAP total debt (excluding deferred financing costs) less short-term investments, cash and cash equivalents.

The Company has included reconciliations of GAAP revenues to organic revenues, GAAP net income to adjusted EBITDA, and adjusted net income, GAAP gross margin to adjusted gross margin, and GAAP earnings per diluted share to adjusted earnings per diluted share all for the quarters ended June 30, 2026 and 2025. The Company has included a reconciliation of GAAP total debt to net debt for the quarters ended June 30, 2026 and December 31, 2025.  

The Company is providing forward-looking guidance regarding organic revenue and adjusted earnings per diluted share but is not providing reconciliations to the most directly comparable forward-looking GAAP financial measures because certain GAAP expense items and the impact of changes in foreign exchange rates are highly variable and management is unable to predict them with reasonable certainty and without unreasonable effort. Specifically, the actual impact of changes in foreign exchange rates and the financial impact and timing of divestitures, acquisitions, integrations, structural optimization, efforts to comply with the EU Medical Device Regulation, and income tax impact from adjustments are uncertain, depend on various dynamic factors and are not reasonably ascertainable at this time. The unavailable information could have a material impact on GAAP results.

The Company believes that the presentation of organic revenues and the other non-GAAP measures provide important supplemental information to management and investors regarding financial and business trends relating to the Company's financial condition and results of operations.   For further information regarding why Integra believes that these non-GAAP financial measures provide useful information to investors, the specific manner in which management uses these measures, and some of the limitations associated with the use of these measures, please refer to the Company's Current Report on Form 8-K regarding this earnings press release filed today with the Securities and Exchange Commission. This Current Report on Form 8-K is available on the SEC's website at   www.sec.gov or on our website at www.integralife.com.  

Investor Relations Contact:
Chris Ward
(609) 772-7736
[email protected]

Media Contact:
Laurene Isip
(609) 208-8121
[email protected]

  INTEGRA LIFESCIENCES HOLDINGS CORPORATION 
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 
(UNAUDITED)
 (In thousands, except per share amounts)
   Three Months Ended September 30,   2026   2025 Total revenue, net $411,182  $402,062      Costs and expenses:    Cost of goods sold  201,316   195,071 Research and development  21,897   22,456 Selling, general and administrative  165,311   169,046 Intangible asset amortization  3,758   3,728 Goodwill impairment charge  —   — Total costs and expenses  392,282   390,301 Operating income (loss)  18,900   11,761 Interest income  5,002   4,982 Interest expense  (22,961)  (22,725)Other income (expense), net  14,723   (842)Income (loss) before income taxes  15,664   (6,824)Provision (benefit) for income taxes  812   (1,420)Net income (loss) $14,852  $(5,404)     Net income (loss) per share    Diluted $0.19  $(0.07)     Weighted average common shares outstanding  78,577   76,753       The following table presents revenues disaggregated by the major sources for the three months ended September 30, 2026 and 2025 (amounts in thousands):
     Three Months Ended September 30,   2026 2025ChangeNeurosurgery $214,097$201,5636.2%Instruments  49,662 50,151(1.0)%ENT  40,361 40,869(1.2)%Total Specialty Surgical  304,120 292,5833.9%     Wound Reconstruction Solutions  81,529 83,988(2.9)%Corporate Partnerships  25,533 25,4910.2%Total Tissue Reconstruction  107,062 109,479(2.2)%Total Reported Revenues $411,182$402,0622.3%     Impact of changes in currency exchange rates  810 — Total organic revenues(1) $411,992$402,0622.5%        (1) Organic revenues have been adjusted to exclude foreign currency (current period), acquisitions and to account for divested and discontinued products.

Items included in GAAP net income and location where each item is recorded are as follows:

(In thousands)

Three Months Ended September 30, 2026 ItemTotal AmountCOGS(a)SG&A(b)R&D(c)Amort (d)OI&E(e)Tax(f)Acquisition, divestiture and integration-related charges(3,026)822,211(1,322)—(3,997)— Structural Optimization charges5,742 3,4861,322935 —— — EU Medical Device Regulation charges2,556 2977601,499 —— — Braintree Transition8,772 8,7701— —— — Cincinnati Flood782 5,709—— —(4,927)— Intangible asset amortization expense26,850 23,091—— 3,758— — Estimated income tax impact from above adjustments and other items(10,083)——— —— (10,083)Depreciation expense10,287 ——— —— —              a) COGS - Cost of goods sold
b) SG&A - Selling, general and administrative
c) R&D - Research & development
d) Amort. - Intangible asset amortization
e) OI&E - Other income & expense
f) Tax - Income tax expense (benefit)

Items included in GAAP net income and location where each item is recorded are as follows:

(In thousands)

 Three Months Ended September 30, 2025 ItemTotal AmountCOGS(a)SG&A(b)R&D(c)Amort (d)OI&E(e)Tax(f)Acquisition, divestiture and integration-related charges(6,588)177(6,182)(1,029)—445— Structural Optimization charges11,052 8,4132,786 (146)——— EU Medical Device Regulation charges10,554 8085,396 4,350 ——— Braintree Transition13,957 13,447510 — ——— Intangible asset amortization expense26,873 23,145— — 3,728— Estimated income tax impact from above adjustments and other items(8,823)—— — ——(8,823)Depreciation expense11,289 —— — ———              a)  COGS - Cost of goods sol
b)  SG&A - Selling, general and administrative
c)  R&D - Research & development
d)  Amort. - Intangible asset amortization
e)  OI&E - Other income & expense
f)  Tax - Income tax expense (benefit)

 RECONCILIATION OF NON-GAAP ADJUSTMENTS - GAAP NET INCOME TO ADJUSTED EBITDA
(UNAUDITED)(In thousands)
   Three Months Ended
September 30,   2026   2025      GAAP net income (loss) $14,852  $(5,404)Non-GAAP adjustments:    Depreciation and intangible asset amortization expense  37,137   38,162 Other (income) expense, net  (5,545)  842 Interest expense, net  17,706   17,298 Income tax expense  812   (1,420)Structural optimization charges  5,742   11,052 EU Medical Device Regulation charges  2,556   10,554 Braintree Transition  8,772   13,957 Cincinnati Flood  782   — Acquisition, divestiture and integration-related charges  (3,026)  (6,588)Total of non-GAAP adjustments  64,936   83,857 Adjusted EBITDA $79,787  $78,453       RECONCILIATION OF NON-GAAP ADJUSTMENTS - GAAP NET INCOME TO MEASURES OF ADJUSTED NET INCOME AND ADJUSTED EARNINGS PER SHARE
(UNAUDITED)(In thousands, except per share amounts)
   Three Months Ended
September 30,   2026   2025      GAAP net income (loss) $14,852  $(5,404)Non-GAAP adjustments:    Structural optimization charges  5,742   11,052 Acquisition, divestiture and integration-related charges  (3,026)  (6,588)EU Medical Device Regulation charges  2,556   10,554 Braintree Transition  8,772   13,957 Cincinnati Flood  782   — Intangible asset amortization expense  26,850   26,873 Estimated income tax impact from adjustments and other items  (10,083)  (8,823)Total of non-GAAP adjustments  31,592   47,025 Adjusted net income $46,444  $41,621      Adjusted diluted net income per share $0.59   0.54 Weighted average common shares outstanding for diluted net income per share  78,577   76,850  CONDENSED BALANCE SHEET DATA
(UNAUDITED) (In thousands)   September 30,
2026 December 31,
2025     Short term investments $59,669 $28,693Cash and cash equivalents  252,261  235,048Trade accounts receivable, net  248,994  278,849Inventories, net  464,454  492,735     Current and long-term borrowing under senior credit facility  1,745,388  1,768,306Borrowings under securitization facility  81,200  87,800Convertible securities  —  —          Stockholders' equity $1,066,617 $1,043,463      CONDENSED STATEMENT OF CASH FLOWS
(UNAUDITED)(In thousands)   Nine Months Ended
September 30,   2026   2025      Net cash provided by operating activities $128,582  $38,568 Net cash (used in) investing activities  (68,377)  (73,156)Net cash (used in) provided by financing activities  (38,809)  3,993 Effect of exchange rate changes on cash and cash equivalents  (4,183)  16,406      Net increase (decrease) in cash and cash equivalents $17,213  $(14,189)      RECONCILIATION OF NON-GAAP ADJUSTMENTS - GAAP OPERATING CASH FLOW TO
MEASURES OF FREE CASH FLOW AND ADJUSTED FREE CASH FLOW CONVERSION
(UNAUDITED)(In thousands)   Three Months Ended
September 30,   2026  2025 Net cash provided by operating activities $95,977 $40,907     Purchases of property and equipment  (10,246) (15,156)Free cash flow $85,731 $25,751     Adjusted net income(1) $46,444 $41,621 Adjusted free cash flow conversion  184.6% 61.9%              Twelve Months Ended
September 30,   2026  2025 Net cash provided by operating activities $140,397 $89,315     Purchases of property and equipment  (54,615) (93,821)Free cash flow $85,782 $(4,506)    Adjusted net income(1) $195,456 $180,896 Adjusted free cash flow conversion  43.9%(2.5)        %     (1) Adjusted net income for quarters ended September 30, 2026 and 2025 are reconciled above. Adjusted net income for remaining quarters in the trailing twelve months calculation have been previously reconciled and are publicly available in the Quarterly Earnings Call Presentations on our website at investor.integralife.com under Events & Presentations.

The Company calculates adjusted free cash flow conversion by dividing its free cash flow by adjusted net income. The Company believes this measure is useful in evaluating the significance of the cash special charges in its adjusted earnings measures.

 RECONCILIATION OF NON-GAAP ADJUSTMENTS - NET DEBT CALCULATION
(UNAUDITED)(In thousands)
      September 30,
2026December 31,
2025Short-term borrowings under senior credit facility $48,438 $38,750 Long-term borrowings under senior credit facility  1,696,950  1,729,556 Borrowings under securitization facility  81,200  87,800 Convertible securities  —  — Deferred financing costs netted in the above  2,112  3,257 Short term investments  (59,669) (28,693)Cash & Cash Equivalents  (252,261) (235,048)Net Debt $1,516,770 $1,595,622      RECONCILIATION OF NON-GAAP ADJUSTMENTS - GAAP GROSS PROFIT TO MEASURES OF ADJUSTED GROSS PROFIT AND ADJUSTED GROSS MARGIN
(UNAUDITED)(In thousands, except percentages)   Three Months Ended
September 30,   2026   2025      Total revenues, net $411,182  $402,062 Cost of goods sold  201,316   195,071 Reported Gross Profit  209,866   206,991 Cincinnati Flood  5,709   — Structural optimization charges  3,486   8,413 Acquisition, divestiture and integration-related charges  82   177 Braintree Transition  8,770   13,447 EU Medical Device Regulation  297   808 Intangible asset amortization expense  23,091   23,145 Adjusted Gross Profit $251,302  $252,981 Total Revenues $411,182  $402,062 Adjusted Gross Margin  61.1%  62.9%

PRINCETON, N.J., Oct. 16, 2026 (GLOBE NEWSWIRE) -- Integra LifeSciences Holdings Corporation (Nasdaq: IART), a global leader in medical technology, today announced its participation in the 2026 American Academy of Otolaryngology-Head and Neck Surgery Foundation (AAO-HNSF) Annual Meeting & OTO EXPO, taking place October 17-20 in Los Angeles, California.

At this year's meeting, Integra will showcase its growing portfolio of ENT technologies and instruments, including the ACCLARENT AERA® Eustachian Tube Treatment, TruDi® Navigation System, MicroFrance® ENT and Laparoscopy Instruments, Bien-Air® Drill and Shaver Systems and RELIEVA SPINPLUS® Balloon Sinuplasty System.

Additionally, Integra is a sponsor of the Otosclerosis Study Group. As part of the Otosclerosis Study Group, Seilesh C. Babu, M.D., president of Michigan Ear Institute and associate professor at Wayne State University, will present new clinical research entitled "The Effects of Concurrent Eustachian Tube Balloon Dilation on Surgical Outcomes in Chronic Ear Disease" (Poster #890) on October 17th. The investigator-initiated study examines the impact of Eustachian tube balloon dilation when performed alongside surgery for chronic ear disease.

"Chronic ear disease can significantly affect hearing, quality of life and long-term patient outcomes, while often presenting complex treatment challenges for physicians," said Chris Schutt, M.D., vice president, Operations & Excellence, Office of the Chief Medical Officer, Integra LifeSciences. "As our understanding of the underlying factors that contribute to chronic ear disease continues to evolve, there is growing interest in approaches that address root causes while supporting long-term outcomes. We remain committed to advancing clinical evidence, education and innovation across ENT care and are pleased to support new research."

Conference attendees are invited to visit Integra LifeSciences at Booth 1400 to learn more about the company's growing ENT portfolio and participate in hands-on ACCLARENT AERA training and certification.

ACCLARENT AERA received FDA clearance for its pediatric indication in December 2023, becoming the first and only Eustachian Tube Balloon Dilation System indicated for pediatric patients ages eight and older.1

In addition to showcasing AERA, Integra will highlight solutions across the ENT continuum, including navigation, powered instrumentation and surgical instruments intended to help physicians treat and manage a broad range of ENT conditions.

About Integra LifeSciences

Integra LifeSciences (Nasdaq: IART) is a global medical technology leader dedicated to restoring lives. We are advancing transformational care through impactful innovation in neurosurgery and tissue reconstruction, specialized fields that demand exceptional expertise and precision. Our portfolio of highly differentiated, gold-standard technologies is trusted by healthcare professionals to deliver transformative care. For the latest news and information about Integra LifeSciences and its products, please visit www.integralife.com.

About ACCLARENT AERA® Eustachian Tube Balloon Dilation System

The ACCLARENT AERA Eustachian Tube Balloon Dilation System is intended to dilate the Eustachian tube for treatment of persistent Eustachian tube dysfunction in patients ages 18 and older. For patients ages 8-17 years, the ACCLARENT AERA Eustachian Tube Balloon Dilation System, alone or in combination with adjunctive procedures, is intended to treat patients with objective signs of persistent obstructive Eustachian tube dysfunction from inflammatory pathology, resulting in chronic otitis media with effusion and are refractory to at least one surgical intervention for persistent obstructive Eustachian tube dysfunction.

Investor Relations Contact:
Chris Ward
(609) 772-7736
[email protected]

Media Contact:
Laurene Isip
(609) 208-8121
[email protected]

____________________________
1 U.S. Food and Drug Administration. ACCLARENT AERA Eustachian Tube Dilation System (K230742). Dec. 13, 2023. Website: FDA 510(k) Clearance Database - ACCLARENT AERA K230742 [accessdata.fda.gov]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d25cf2e9-3e7c-4a2c-bde1-652b6c681ec8

ACCLARENT AERA® Eustachian Tube Treatment Simulation of a minimally invasive ear procedure using the ACCLARENT AERA® Eustachian Tube Treatment...

What happened Integra LifeSciences Holdings Corporation (NASDAQ: IART) in Princeton, N.J., priced $450 million of 9.500% senior secured notes due 2033 on October 9, 2026.

The notes will be senior secured obligations of the company. They will also be guaranteed by wholly-owned domestic subsidiaries that already guarantee its senior secured credit facilities.

The sale is expected to close on or about October 19, 2026, subject to customary closing conditions. The company said it plans to use net proceeds, together with borrowings under a new credit facility, to refinance existing credit facilities and pay fees and expenses. The offering is part of a broader refinancing transaction and was made in a private placement. Key numbers Metric Latest Change Source Aggregate principal amount of notes $450 million Press release Coupon on the notes 9.500% Press release Expected closing on or about October 19, 2026 Press release Expected increase in effective interest rate near the high end of the anticipated 100-200 basis-point range Form 8-K Read more: Integra LifeSciences (IART) stock analysis and investment case

Why it matters OptimistFi's case is that Integra can rebuild value if compliance and supply reliability normalize. This filing adds financing, not operating progress, so it supports the balance sheet more than the turnaround itself.

The company expects the refinancing to lift its effective interest rate near the high end of the previously communicated 100-200 basis-point range. That higher cost matters because it leaves less room for a recovery to absorb debt service while the operating story is still being tested.

The notes carry a 9.500% coupon. The company also said the proceeds will pay fees and expenses tied to the refinancing. The financing is secured, not fresh equity support, so debt service stays in focus until the operating story improves. The notes will be guaranteed by wholly-owned domestic subsidiaries, which keeps the deal within the same secured credit structure.

Browse: stock research on every company OptimistFi covers

What's next The sale is expected to close on or about October 19, 2026, subject to customary closing conditions. If it closes, investors will have the refinancing structure the company described and a clearer read on the higher interest burden.

If it slips or the terms change, the financing plan remains open and the rate signal stays provisional. October 19, 2026 is the next dated check on execution.

The company said closing is still subject to customary conditions, so execution matters more than the announcement.

More from OptimistFi IART stock: the Integra LifeSciences thesis, its status and the next test to watch Levi Strauss & Co. (NYSE: LEVI) Raises Profit as Wholesale Outruns DTC Park Aerospace Corp. (NYSE: PKE) Expands Profit as Sales Rise Helen of Troy Limited (NASDAQ: HELE) Lifts Profit as Cash Flow Rebounds Stock research on every company OptimistFi covers Latest stock research and investment-case updates OptimistFi: evidence-first equity research Sources Integra LifeSciences press release, dated October 9, 2026 — Announced pricing of $450 million of 9.500% senior secured notes due 2033 and expected use of proceeds Form 8-K, dated October 9, 2026 — Disclosed the pricing and said the refinancing should lift the effective interest rate near the high end of the previously communicated 100-200 basis-point range Read the full OptimistFi thesis on Integra LifeSciences Holdings Corporation: https://optimistfi.com/stocks/IART

See what would break the Integra LifeSciences Holdings Corporation thesis and track it live on the OptimistFi Thesis-Break Engine.

Browse every company OptimistFi covers at optimistfi.com/stocks, or read the latest evidence-first research.

The full Integra LifeSciences Holdings Corporation investment case, its status and the next test to watch live on the Integra LifeSciences Holdings Corporation thesis page.

Originally published on OptimistFi, evidence-first equity research. More at optimistfi.com.

A Look at Integra Lifesciences Holdings Corp (IART) After 3.1% Gain -- GF Value $20.47 vs Price $13.41

On October 08, 2026, Integra Lifesciences Holdings Corp IART shares rose 3.1% to a current price of $13.41. This price remains significantly below its 52-week high of $20.49, reflecting a challenging performance relative to its historical context and recent trends.

GF Value™ verdict: Current price of $13.41 is 34.5% below GF Value™ estimate of $20.47.GF Score™ of 69/100 indicates the stock is rated as Above Average.Most notable signal: Insider activity shows $0.1M in purchases over the past 12 months, with no selling.Is IART Overvalued or Undervalued?Integra Lifesciences Holdings Corp IART is currently trading at a price of $13.41, while the GF Value™, which is GuruFocus' intrinsic-value estimate derived from historical trading multiples, past business growth, and future performance estimates, suggests a fair value of $20.47. This creates an implied margin of safety of approximately 34.5%, indicating that the stock is undervalued at its current price. However, the GF Valuation label describes IART as a possible value trap, advising caution for potential investors. This warning highlights the need for careful consideration, particularly in light of IART's unprofitability and cash-flow-negative status.

While the GF Value™ points to an opportunity for investors, it is essential to be aware of the risks associated with investing in a company that is not currently generating profits. The valuation does not provide a precise fair-value target but serves as a directional warning about the potential for mispricing in the market.

How Does IART's Valuation Compare to Its History?MetricCurrentHistoricalP/E (TTM)5.2x29.1xCurrently, IART's P/E ratio stands at 5.2x, significantly below its 5-year median P/E of 29.1x. This suggests that the stock is trading at a much lower valuation compared to its historical standards. The P/E analysis aligns with the GF Value™ verdict, reinforcing the notion that the stock may be undervalued, though it warrants caution due to the company's financial condition.

What Does IART's GF Score™ Tell Us?The GF Score™ is a comprehensive measure that evaluates a stock based on various criteria, including financial strength, profitability, growth, valuation, and momentum. For IART, the GF Score™ is 69/100, indicating an Above Average rating. The strongest sub-rank is its Momentum at 9/10, while the weakest area is Growth, which is rated at 3/10.

MetricRatingGF Score™69Financial Strength4/10Profitability7/10Growth3/10Valuation4/10Momentum9/10These scores highlight that while IART possesses strong momentum, its financial strength and growth potential are areas of concern. The overall analysis suggests that while there are some promising aspects, particularly in terms of momentum, the weaknesses in growth and financial strength could pose challenges for the company moving forward.

What Are Gurus and Insiders Doing with IART?Currently, two gurus hold shares of IART, with one guru adding to their position and another trimming their stake in recent quarters. This mixed activity reflects a cautious sentiment among experts in the field. Additionally, insider activity has shown $0.1M in purchases over the past 12 months, with no selling reported. This pattern of insider buying may indicate a level of confidence from those closest to the company, suggesting that insiders see potential value in the stock despite its current challenges.

The combination of guru ownership and insider purchases provides valuable insight into the stock’s potential. While the mixed guru activity raises some questions about the sentiment among institutional investors, the absence of selling by insiders reinforces a positive outlook from those with the most intimate knowledge of the company’s operations.

What This Means for InvestorsBased on the analysis, Integra Lifesciences Holdings Corp IART appears to be undervalued according to the GF Value™ metric, with a notable margin of safety. However, the risk factors associated with its unprofitability and cash-flow-negative status necessitate careful consideration before making investment decisions. It is crucial for potential investors to weigh these factors against the promising aspects of the stock, such as insider buying and a strong momentum rank. For further details, you can visit the Integra Lifesciences Holdings Corp (IART) stock page for a comprehensive analysis.

Frequently Asked QuestionsWhat is IART's GF Score™?

The GF Score™ for IART is 69, which indicates that the stock is rated as Above Average, reflecting a moderately favorable assessment based on various fundamental factors.

Is IART overvalued or undervalued?

IART is currently undervalued, with the GF Value™ indicating a 34.5% upside to its estimated fair value of $20.47.

What is IART's P/E ratio?

IART has a P/E ratio of 5.2x, which is significantly lower than its 5-year median P/E of 29.1x, suggesting it is trading below its historical valuation levels.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Disclosures I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

PRINCETON, N.J., Oct. 06, 2026 (GLOBE NEWSWIRE) -- Integra LifeSciences Holdings Corporation (NASDAQ: IART), a leading global medical technology company, will release third quarter 2026 financial results on Wednesday, October 21, 2026, prior to the market open. In conjunction with the earnings release, Integra’s management team will host a conference call at 8:30 a.m. ET.

A live webcast will be available on the Investors section of the Company’s website at investor.integralife.com. For those planning to participate on the call, register here to receive dial-in details and an individual pin. While not required, joining 10 minutes before the event starts is recommended. A webcast replay of the conference call will be available on the Investors section of the Company’s website following the call.

About Integra LifeSciences

Integra LifeSciences (Nasdaq: IART) is a global medical technology leader dedicated to restoring lives. We are advancing transformational care through impactful innovation in neurosurgery and tissue reconstruction, specialized fields that demand exceptional expertise and precision. Our portfolio of highly differentiated, gold-standard technologies are trusted by healthcare professionals to deliver life-saving care. For our latest news and information, visit www.integralife.com. 

Investor Relations:
Chris Ward
(609) 772-7736
[email protected]   

Media Contact:
Laurene Isip
(609) 208-8121
[email protected] 

Integra LifeSciences Holdings Corporation

SAN DIEGO, Oct. 05, 2026 (GLOBE NEWSWIRE) -- Johnson Fistel, PLLP, a leading stockholder rights law firm, is investigating Integra LifeSciences Holdings Corporation (NASDAQ: IART) on behalf of investors who may have suffered losses. If you purchased Integra securities and suffered losses, please contact the firm to learn more about the investigation. There is no cost or obligation.

Why Is Johnson Fistel Investigating Integra LifeSciences?

The investigation concerns whether Integra adequately disclosed the extent of flooding-related manufacturing disruptions at its Cincinnati facility and their effects on its financial outlook.

On July 29, 2026, after the flooding had occurred, Integra told investors that it did not expect the flooding to materially affect its 2026 revenue or earnings guidance.

However, on October 2, 2026, Integra disclosed approximately $7 million in lost third-quarter revenue from the flooding and an expected additional fourth-quarter revenue impact of $15 million to $20 million. The Company also stated that the Cincinnati facility was not expected to return to full manufacturing operations until the second quarter of 2027.

Integra lowered its 2026 revenue guidance from $1.654 billion–$1.695 billion to $1.634 billion–$1.654 billion and reduced its adjusted earnings-per-share guidance from $2.40–$2.50 to $2.30–$2.40. Following the news, shares fell $3.41, or approximately 21.2%, closing at $12.68 on October 2, 2026.

Johnson Fistel is examining when management knew of the extent and likely duration of the manufacturing disruption and whether the Company’s July 29 statements, forecasts, and disclosures appropriately reflected that information.

About Johnson Fistel, PLLP | Top Law Firm, Securities Fraud, Investor Rights

Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, Idaho, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. The firm also represents foreign investors who have purchased securities on U.S. exchanges.

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Johnson Fistel, PLLP has paid for the dissemination of this promotional communication, and Frank J. Johnson is the attorney responsible for its content.

Contact:
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[email protected]

San Diego, California--(Newsfile Corp. - October 4, 2026) - Johnson Fistel, PLLP, a leading stockholder rights law firm, is investigating Integra LifeSciences Holdings Corporation (NASDAQ: IART) on behalf of investors who may have suffered losses. If you purchased Integra securities and suffered losses, please contact the firm to learn more about the investigation. There is no cost or obligation.

Why Is Johnson Fistel Investigating Integra LifeSciences?

The investigation concerns whether Integra adequately disclosed the extent of flooding-related manufacturing disruptions at its Cincinnati facility and their effects on its financial outlook.

On July 29, 2026, after the flooding had occurred, Integra told investors that it did not expect the flooding to materially affect its 2026 revenue or earnings guidance.

However, on October 2, 2026, Integra disclosed approximately $7 million in lost third-quarter revenue from the flooding and an expected additional fourth-quarter revenue impact of $15 million to $20 million. The Company also stated that the Cincinnati facility was not expected to return to full manufacturing operations until the second quarter of 2027.

Integra lowered its 2026 revenue guidance from $1.654 billion-$1.695 billion to $1.634 billion-$1.654 billion and reduced its adjusted earnings-per-share guidance from $2.40-$2.50 to $2.30-$2.40. Following the news, shares fell $3.41, or approximately 21.2%, closing at $12.68 on October 2, 2026.

Johnson Fistel is examining when management knew of the extent and likely duration of the manufacturing disruption and whether the Company's July 29 statements, forecasts, and disclosures appropriately reflected that information.

About Johnson Fistel, PLLP | Top Law Firm, Securities Fraud, Investor Rights

Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, Idaho, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. The firm also represents foreign investors who have purchased securities on U.S. exchanges.

Attorney advertising.
Past results do not guarantee future outcomes.
Services may be performed by attorneys in any of our offices.

Johnson Fistel, PLLP has paid for the dissemination of this promotional communication, and Frank J. Johnson is the attorney responsible for its content.

Contact:
Johnson Fistel, PLLP
501 W. Broadway, Suite 800
San Diego, CA 92101
James Baker | (619) 814-4471
[email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/317304

Source: Johnson Fistel, PLLP

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Integra Lifesciences Holdings Corp (NASDAQ:IART) cut its 2026 revenue and adjusted earnings guidance after July flooding disrupted operations in Cincinnati, despite expectations for strong cash generation.

The medical technology company now forecasts annual revenue of $1.634 billion to $1.654 billion, down from $1.654 billion to $1.695 billion.

Alongside that reduction, it lowered adjusted earnings per diluted share guidance to $2.30 to $2.40 from $2.40 to $2.50.

Those revisions reflect updated assumptions about both the flooding's impact and the broader business for the remainder of 2026.

Preliminary, unaudited third-quarter estimates put revenue at approximately $410 million to $412 million and adjusted earnings per diluted share at $0.55 to $0.59, pending financial closing.

Despite the cuts, CEO Stuart Essig expects operating cash flow above $85 million for the quarter and approximately $190 million to $200 million for the year.

Essig also highlighted improving product availability, key products returning to market, and stronger commercial execution across the broader business.

At Cincinnati, however, Integra estimates flood-related supply disruption reduced third-quarter revenue by approximately $7 million and expects a $15 million to $20 million fourth-quarter hit.

To support customers, the company has tapped inventory and alternate suppliers for certain products while restoring the facility, which supports its Specialty Surgical Technologies portfolio.

It also expects property and business interruption insurance recoveries to cushion much of the disruption's earnings impact throughout the recovery period.

Integra expects full manufacturing operations at Cincinnati to resume during the second quarter of 2027.

Shares of Integra Lifesciences dropped 20.6% on Friday.

PRINCETON, N.J., Oct. 02, 2026 (GLOBE NEWSWIRE) -- Integra LifeSciences Holdings Corporation (Nasdaq: IART), a leading global medical technology company, today provided certain unaudited preliminary third quarter results and an update to its full-year 2026 guidance.

Key Takeaways Integra's Specialty Surgery revenues rose 1.6% organically, led by neurosurgery and better supply reliability.IART's adjusted EPS rose 24.4%, while Braintree production ramps up ahead of a phased SurgiMend relaunch.High leverage and a stronger U.S. dollar pressure Integra's flexibility and reported revenue outlook. Integra LifeSciences Holdings Corporation (IART - Free Report) sees steady demand across Specialty Surgery, supported by neurosurgery strength, better supply reliability and emerging ear, nose and throat (ENT) opportunities. The company is improving operational efficiency while ramping up Braintree production ahead of the SurgiMend relaunch. The Tissue Reconstruction portfolio is also showing gradual recovery, led by PriMatrix gains and improving Integra Skin sales. Meanwhile, high leverage and currency fluctuations remain key challenges for Integra, potentially affecting financial flexibility and reported sales.

Over the past year, this Zacks Rank #2 (Buy) stock has risen 16.1% compared with the industry’s 11.1% growth and the 16% rise of the S&P 500 composite.

The renowned medical device company has a market capitalization of $823.8 million.  Integra’s earnings yield of 22.1% favorably compares to the industry’s negative 0.9% yield. In the trailing four quarters, the company delivered an average earnings surprise of 7.7%.

Let’s delve deeper.

Tailwinds for IART StockSpecialty Surgery Demand and Portfolio Breadth: Specialty Surgery remains anchored by neurosurgery, where Integra’s products span pre-operative care, the operating room, neuro-critical care and post-care. In the second quarter of 2026, the segment’s revenues increased 1.6% organically to $309.3 million. Global Neurosurgery sales rose 1.9%, led by Certas Plus, CUSA and Bactiseal, as better supply reliability helped Integra meet customer demand more consistently.

Instruments grew 3.2% organically, and management continues to expect full-year growth. Capital equipment declined about 1% as double-digit CUSA growth was offset by smaller-ticket systems, but management maintained a positive full-year capital outlook and described the hospital capital environment as healthy. Management continues to view ENT as an emerging opportunity, with innovation focused on navigation and eustachian tube technologies.

Image Source: Zacks Investment Research

Operational Execution and Braintree Capacity Ramp-Up: Integra’s transformation program is beginning to reduce operating friction, while Braintree adds a path to restore key products. In the second quarter of 2026, adjusted EPS increased 24.4% year over year and exceeded management’s guidance range. Adjusted gross margin improved 60 basis points (bps) to 61.3%, while adjusted EBITDA margin expanded 160 bps to 18.7%. Management kept its full-year 2026 adjusted EPS guidance unchanged at $2.40-$2.50.

The company still expects $25-$30 million of savings in 2026, with another $10-$15 million of annualized savings in 2027 as remediation and transformation costs decline. Braintree began production in June 2026 and is building inventory for a phased SurgiMend relaunch later in the year.  Management does not expect SurgiMend to contribute meaningfully to 2026 revenues but expects sales to recover gradually over several quarters following the relaunch. SurgiMend premarket approval (PMA) is expected earlier in 2027, with DuraSorb later that year, subject to FDA inspection and approval.

Tissue Reconstruction Recovery and Portfolio Returns: Tissue Reconstruction is supported by product breadth across biologic and synthetic wound solutions, although performance across the business remains mixed. In the second quarter of 2026, revenues were $109.5 million, down 2% organically, as DuraSorb growth and PriMatrix gains were offset by lower Integra Skin and MicroMatrix sales. Integra Skin increased sequentially from the first quarter, with management expecting that progression to continue through 2026.

Roughly nine months after its relaunch, PriMatrix had recovered slightly more than half of pre-recall revenues and continued to rise sequentially. Wound reconstruction was about flat for the first half of 2026, consistent with full-year expectations. The hospital-heavy mix also limits exposure to outpatient skin-substitute reimbursement changes. MediHoney is expected to return to the market in 2027. Continued customer interest in the product could support further recovery in the Tissue Reconstruction portfolio.

What Concerns Integra?Elevated Leverage: Integra ended the second quarter of 2026 with total liquidity of about $496 million, including $274 million of cash and short-term investments. Net debt remained high at $1.60 billion. Total leverage improved to 4.1X from 4.5X at year-end 2025 but remained above management’s 2.5X-3.5X target range. Interest expense increased to $23.0 million from $21.0 million a year earlier. Management also expects higher interest expense in the second half of 2026 as it evaluates refinancing options, which could constrain financial flexibility.

Foreign Exchange Volatility Persists: Integra’s international exposure leaves reported revenues sensitive to currency movements. In the second quarter of 2026, management lowered full-year reported revenue guidance to $1.654-$1.695 billion from $1.662-$1.702 billion solely because of a stronger U.S. dollar.

IART Stock Estimate TrendThe Zacks Consensus Estimate for the company’s 2026 earnings per share (EPS) has remained constant at $2.46 in the past 60 days.

The consensus estimate for the 2026 revenues is pegged at $1.68 billion. This suggests a 2.5% rise from the year-ago reported number.

Other Key PicksSome other top-ranked stocks in the broader medical space are Veracyte (VCYT - Free Report) , Phibro Animal Health (PAHC - Free Report) and Globus Medical (GMED - Free Report) .

Veracyte has an earnings yield of 4.7% against the industry’s negative 1.4% yield. Shares of the company have risen 34.3% compared with the industry’s 11.1% growth. VCYT’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 41.8%. 

VCYT sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Phibro Animal Health, sporting a Zacks Rank #1, has an earnings yield of 10.2% compared with the industry’s 2.5% yield. Its earnings beat estimates in each of the trailing four quarters, the average surprise being 18.4%. PAHC shares have fallen 12.2% against the industry’s 27.3% decline over the past year.

Globus Medical, sporting a Zacks Rank #1, has an earnings yield of 6.8% against the industry’s negative 1.7% yield. Its earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 27.9%. GMED shares have rallied 32.2% compared with the industry’s 11.1% growth over the past year.

PRINCETON, N.J., Sept. 29, 2026 (GLOBE NEWSWIRE) -- Integra LifeSciences (Nasdaq: IART), a leading global medical technology company, announced today the enrollment of the 100th patient in the AERA® Pediatric Registry, a prospective, multicenter observational registry evaluating the real-world clinical performance of the Acclarent AERA Eustachian Tube Balloon Dilation System in pediatric patients eight or older.

The milestone represents one-third of the registry’s planned enrollment of 300 patients and reflects the continued collaboration of participating investigators, research coordinators and clinical sites across the United States. Launched in July 2025, the registry is designed to generate real-world evidence regarding the use of AERA in children with obstructive Eustachian tube dysfunction, or ETD.

“Reaching the 100-patient milestone reflects meaningful progress in building real-world evidence in pediatric Eustachian tube dysfunction and its treatment,” said Christopher Schutt, M.D., vice president, Operations & Excellence, Office of the Chief Medical Officer, Integra LifeSciences. “We are grateful to the research teams and families whose participation is making this work possible. We are hopeful their contributions will help inform future clinical decision-making and advance understanding of care for children with ETD.”

ETD occurs when the Eustachian tube does not properly regulate pressure or drain fluid from the middle ear. The condition may contribute to symptoms including ear pressure or fullness, discomfort, hearing difficulties, and recurrent ear infections. Eustachian tube balloon dilation is a treatment option for appropriate patients with ETD.

"This milestone reinforces our commitment to the ear, nose, and throat (“ENT”) market and to advancing the evidence base supporting innovative treatment options for patients with Eustachian tube dysfunction," said Harvinder Singh, executive vice president and president, Specialty Surgery, Integra LifeSciences. "We believe continued investment in clinical evidence generation is essential to supporting physicians, informing care decisions and strengthening our leadership position in ENT."

AERA received FDA clearance for its pediatric indication in December 2023, becoming the first and only Eustachian Tube Balloon Dilation System indicated for pediatric patients ages eight and older.1

About Integra LifeSciences

Integra LifeSciences (Nasdaq: IART) is a global medical technology leader dedicated to restoring lives. We are advancing transformational care through impactful innovation in neurosurgery and tissue reconstruction, specialized fields that demand exceptional expertise and precision. Our portfolio of highly differentiated, gold-standard technologies is trusted by healthcare professionals to deliver transformative care. For the latest news and information about Integra LifeSciences and its products, please visit www.integralife.com.

About ACCLARENT AERA® Eustachian Tube Balloon Dilation System

The ACCLARENT AERA Eustachian Tube Balloon Dilation System is intended to dilate the Eustachian tube for treatment of persistent Eustachian tube dysfunction in patients ages 18 and older. For patients ages 8-17 years, the ACCLARENT AERA Eustachian Tube Balloon Dilation System, alone or in combination with adjunctive procedures, is intended to treat patients with objective signs of persistent obstructive Eustachian tube dysfunction from inflammatory pathology, resulting in chronic otitis media with effusion and are refractory to at least one surgical intervention for persistent obstructive Eustachian tube dysfunction.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements that are not statements of historical facts are, or may be deemed to be, forward-looking statements. Such forward-looking statements are based on current expectations and projections and involve inherent risks, assumptions and uncertainties that are difficult to predict and which may be beyond our control. Forward-looking statements that may be discussed include, but are not limited to, the potential clinical application and efficacy of the AERA Eustachian Tube Balloon Dilation System in pediatric patients, the number of patients expected to be involved in the AERA Pediatric Registry and the anticipated utility of data collected from the AERA Pediatric Registry. There can be no assurance that the AERA Pediatric Registry will be able to meet the enrollment and observation objectives described herein or that any potential clinical applications and benefits will be observed. Forward-looking statements in this press release should be evaluated together with the many risks and uncertainties that affect Integra LifeSciences’s business, particularly those identified under the headings “Risk Factors” and “Special Note Regarding Forward-Looking Statements,” included in Integra LifeScience's Annual Report on Form 10-K for the year ended December 31, 2025, and information contained in subsequent filings with the Securities and Exchange Commission. The forward-looking statements included in this news release are made only as of the date of this news release and Integra LifeSciences undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Investor Relations Contact:
Chris Ward
(609) 772-7736
[email protected]

Media Contact:
Laurene Isip
(609) 208-8121
[email protected]

______________
1 U.S. Food and Drug Administration. ACCLARENT AERA Eustachian Tube Dilation System (K230742). Dec. 13, 2023. Website: FDA 510(k) Clearance Database - ACCLARENT AERA K230742 [accessdata.fda.gov]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4ef670f8-0782-4879-8f56-55f9ef15506a

ACCLARENT AERA® Eustachian Tube Balloon Dilation System ACCLARENT AERA® Eustachian Tube Balloon Dilation System

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The Style Scores are broken down into four categories:

Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.

Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.

Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.

Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.8% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.

That's where the Style Scores come in.

To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.

The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.

For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Integra LifeSciences (IART - Free Report) Headquartered in Princeton, NJ, Integra LifeSciences Holdings Corporation is one of the world leaders in regenerative medicine. The company develops, manufactures and markets surgical implants and medical instruments. In its first-quarter 2026 report, the company renamed two of its segments: Codman Specialty Surgical was renamed Specialty Surgery, while Tissue Technologies was renamed Tissue Reconstruction.

IART is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 6.38; value investors should take notice.

For fiscal 2026, two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.01 to $2.46 per share. IART boasts an average earnings surprise of +19.8%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, IART should be on investors' short list.

PRINCETON, N.J., Sept. 04, 2026 (GLOBE NEWSWIRE) -- Integra LifeSciences Holdings Corporation (Nasdaq: IART), a leading global medical technology company, today announced that Lea Knight, chief financial officer, and Michael McBreen, chief commercial officer, will present at the 2026 Wells Fargo Healthcare Conference on Wednesday, September 9, 2026, at 2:15 p.m. ET. Stuart Essig, chairman and chief executive officer, will present at the 2026 Morgan Stanley Healthcare Conference on Tuesday, September 15, 2026, at 4:05 p.m. ET.

A live webcast of the presentations will be available on the Integra LifeSciences investor relations website under EVENTS & PRESENTATIONS.

About Integra LifeSciences
Integra LifeSciences (Nasdaq: IART) is a global medical technology leader dedicated to restoring lives. We are advancing transformational care through impactful innovation in neurosurgery and tissue reconstruction, specialized fields that demand exceptional expertise and precision. Our portfolio of highly differentiated, gold-standard technologies are trusted by healthcare professionals to deliver life-saving care. For our latest news and information, visit www.integralife.com.

Investor Relations:
Chris Ward
(609) 772-7736
[email protected]   

Media Contact:
Laurene Isip
(609) 208-8121
[email protected] 

Integra LifeSciences Holdings Corporation

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.

The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.

Zacks Premium also includes the Zacks Style Scores.

What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.

Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.

How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.8% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.

That's where the Style Scores come in.

To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.

The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.

For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Integra LifeSciences (IART - Free Report) Headquartered in Princeton, NJ, Integra LifeSciences Holdings Corporation is one of the world leaders in regenerative medicine. The company develops, manufactures and markets surgical implants and medical instruments. In its first-quarter 2026 report, the company renamed two of its segments: Codman Specialty Surgical was renamed Specialty Surgery, while Tissue Technologies was renamed Tissue Reconstruction.

IART is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 6.86; value investors should take notice.

Two analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.01 to $2.46 per share. IART also boasts an average earnings surprise of +19.8%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, IART should be on investors' short list.

Key Takeaways IART began building SurgiMend inventory for a phased fourth-quarter 2026 relaunch.Integra expects SurgiMend share recapture to build gradually, making 2027 the key recovery year.Integra expects FDA approval earlier in 2027, pending a successful Braintree pre-approval inspection. Integra LifeSciences Holdings Corp. (IART - Free Report) has begun producing SurgiMend at its Braintree facility and is building inventory for a phased fourth-quarter 2026 relaunch. That milestone adds another product-restoration catalyst to the company’s Tissue Reconstruction recovery plan.

The near-term financial effect should be limited. Management assumes no meaningful SurgiMend contribution in 2026, leaving 2027 as the more important period for judging share recapture, regulatory progress and the broader portfolio recovery.

Image Source: Zacks Investment Research

IART’s Braintree Site Starts Building InventoryBraintree began production in June 2026, giving Integra a manufacturing path to restore SurgiMend after a prolonged disruption. Management is building inventory ahead of a controlled relaunch and expects sufficient supply to support the initial rollout.

The company plans to engage historical high-volume users and key opinion leaders first, applying lessons from the PriMatrix return. Because 2026 guidance includes no meaningful SurgiMend revenues, the current inventory build is more relevant to medium-term portfolio recovery than to this year’s growth.

Integra Expects a Gradual SurgiMend Revenue ReturnManagement expects SurgiMend share recapture to build over several quarters rather than rebound immediately. On the latest earnings call, it discussed a modest recovery toward roughly 50% of the product’s historical performance of about $40 million, providing a framework for how the relaunch could develop.

That pace makes 2027 central to the investment case. The Zacks Consensus Estimate calls for 2027 revenues of $1.737 billion, up from $1.677 billion in 2026. SurgiMend would be one contributor to that expected growth, but the company has not provided formal 2027 guidance.

Image Source: Zacks Investment Research

IART’s FDA Timeline Remains the Critical GateThe December 2024 FDA warning letter remains unresolved, and related Class III premarket approvals cannot be approved until the relevant violations are corrected. Integra expects all warning-letter action items to be implemented by the end of 2026, but inspection and approval timing remains under FDA control.

SurgiMend’s clinical safety and efficacy review is complete, and management says an approvable FDA decision is already in place. The remaining premarket approval depends on a successful pre-approval inspection at Braintree, with management expecting approval earlier in 2027.

Integra’s Tissue Portfolio Could Broaden the RecoverySurgiMend would join a Tissue Reconstruction recovery already supported by DuraSorb growth and the PriMatrix relaunch. Roughly nine months after its return, PriMatrix had recovered slightly more than half of pre-recall revenues and continued to improve sequentially. MediHoney is also expected to return in 2027.

The competitive backdrop remains active. AbbVie Inc. (ABBV - Free Report) markets the AlloDerm Select regenerative tissue matrix for tissue repair and certain post-mastectomy breast reconstruction uses. Becton, Dickinson and Company (BDX - Free Report) offers Phasix Mesh for soft tissue reconstruction. Integra therefore needs product restoration to translate into sustained commercial execution, especially after Tissue Reconstruction revenues declined 2% organically in the second quarter.

IART’s Scores Keep the Relaunch in PerspectiveSurgiMend can strengthen Integra’s 2027 recovery path if the relaunch progresses as planned, but the opportunity still depends on gradual customer recapture and successful regulatory execution. The broader Tissue Reconstruction portfolio offers several recovery levers, yet second-quarter performance shows that the segment is not fully back to growth.

IART currently carries a Zacks Rank #3 (Hold). Its Value Score of B is the most supportive Style Score, while the Growth Score of C, VGM Score of C and Momentum Score of D are less favorable. Because Style Scores are designed to complement the Zacks Rank, the current mix supports a measured view of the 2027 catalyst rather than treating the SurgiMend relaunch as a stand-alone buy signal.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.

The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.

It also includes access to the Zacks Style Scores.

What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.

Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.

Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.

Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.

How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.

Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.

That's where the Style Scores come in.

To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Integra LifeSciences (IART - Free Report) Headquartered in Plainsboro, NJ, Integra LifeSciences Holdings Corporation is one of the world leaders in regenerative medicine. The company develops, manufactures and markets surgical implants and medical instruments. In its first-quarter 2026 report, the company renamed two of its segments: Codman Specialty Surgical was renamed Specialty Surgery, while Tissue Technologies was renamed Tissue Reconstruction.

IART is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

Momentum investors should take note of this Medical stock. IART has a Momentum Style Score of A, and shares are up 2.5% over the past four weeks.

Three analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.04 to $2.46 per share. IART also boasts an average earnings surprise of +19.8%.

With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, IART should be on investors' short list.

Key Takeaways Bassett Furniture, Aveanna Healthcare and Integra LifeSciences met breakout screening criteria.BSET, AVAH and IART trade near 52-week highs with recent price momentum and favorable technical signals.The screen favors stocks with strong rankings, controlled volatility and positive earnings growth outlooks. As August approaches, a relatively weak month for the stock market, investors should take a more active approach to stock selection, identifying potential breakout opportunities within defined trading ranges. 

Going by this approach, a stock should be sold if it falls below the lower band, as this may signal further downside. Conversely, a move above the upper band indicates strengthening momentum, a potential breakout, and an opportunity to capture further gains. 

Using this framework, Bassett Furniture Industries, Incorporated (BSET - Free Report) , Aveanna Healthcare Holdings Inc. (AVAH - Free Report) and Integra LifeSciences Holdings Corporation (IART - Free Report) stand out as potential breakout stocks ahead of August. 

Spotting Breakout Stocks to Maximize Returns To pick a breakout stock, calculate support and resistance levels. A support level is the lower bound for stock movements, while a resistance level refers to the maximum price it trades at within a considerable period.

In other words, the demand for a stock is lowest at its support level, meaning most traders are willing to sell it. The majority of traders are willing to go long on the stock at the resistance level, indicating that they would like to add it to their portfolios. The key to identifying breakout stocks is to zero in on those on the verge of a breakout or those that have just broken above resistance. 

Is the Stock Showing a Confirmed Breakout? The primary risk associated with such a strategy is that the decision to buy an apparent breakout candidate has been incorrectly timed. When a stock moves above the resistance level, it should be a highly prized commodity for traders. However, whether such a breakout is genuine is another matter altogether. 

For a bona fide breakout, the stock’s earlier resistance barrier should become its new support level. This only happens if the established trading channel is tested by observing long-term price trends. The strength of the support and resistance levels can be ascertained only through such a study. Despite the risk of misidentification, correctly identifying such stocks can yield considerable returns, even at a price that may not seem attractive at first glance. 

Research Wizard Screening Criteria: • Percentage price change over four weeks between 10% and 20% (Stocks showing considerable price increases but whose gains are not excessive) 

• Current Price /52-Week High greater than or equal to 0.9 (Stocks trading 90% close to their 52-week highs.) 

• Zacks Rank less than or equal to #2 (Only Strong Buy and Buy-rated stocks can get through.) 

Regardless of market strength, stocks with a Zacks Rank of #1 (Strong Buy) or 2 (Buy) have a proven track record of outperforming the market. You can see the complete list of today’s Zacks #1 Rank stocks here. 

• Beta for 60 months less than or equal to 2 

(Stocks that move more than the broader market but within a reasonable limit.) 

• Current price less than or equal to $20 (Stocks reasonably priced) 

These criteria narrow the universe of more than 6,853 stocks to only 11. 

Here are the top three stocks: 

Bassett Furniture Industries Bassett Furniture Industries designs, manufactures, distributes and retails home furnishings across the United States. Bassett Furniture Industries has a Zacks Rank #1. BSET’s expected earnings growth rate for the current year is 18.7%.

Aveanna Healthcare Aveanna Healthcare provides pediatric and adult home healthcare services across the United States. Aveanna Healthcare has a Zacks Rank #2. AVAH’s expected earnings growth rate for the current year is 21.7%. 

Integra LifeSciences  Integra LifeSciences develops and markets surgical instruments and specialty medical products for neurosurgery, ENT and wound care. Integra LifeSciences has a Zacks Rank #2. IART’s expected earnings growth rate for the current year is 9.9%. 

3 Undervalued Midcaps Ready to PopIntegra LifeSciences NASDAQ: IART reported second-quarter 2026 revenue of $419 million, up 0.8% on a reported basis and 0.7% organically from a year earlier, as improving supply reliability and operational execution supported results. Adjusted earnings per share rose 24% year over year to $0.56, exceeding the company’s guidance range.

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Chairman, President and Chief Executive Officer Stuart Essig said the company delivered on its commitments during the quarter and continued to strengthen its operational foundation. “We are operating with greater consistency and strengthening our foundation for long-term growth,” Essig said.

The company reaffirmed its full-year organic revenue growth outlook of 0.8% to 3.3% and its adjusted EPS guidance of $2.40 to $2.50. It updated its reported revenue outlook to $1.654 billion to $1.695 billion, reflecting the impact of foreign exchange rates and a stronger U.S. dollar.

Margins Improve as Tariffs Aid Quarterly EPS Chief Financial Officer Lea Knight said revenue delivery and transformation savings were in line with expectations, while stronger operational execution helped drive earnings to the high end of the company’s guidance range. Integra also benefited from approximately $0.05 per share of tariff favorability relative to its May outlook.

Gross margin reached 61.3%, compared with 60.7% in the prior-year period, reflecting manufacturing efficiencies and lower remediation spending. Adjusted EBITDA margin expanded 160 basis points to 18.7%.

Knight said Integra retained its full-year EPS outlook because it has adjusted its tariff assumptions and expects higher interest expense in the second half tied to a potential refinancing of bank debt. The company still estimates its total tariff exposure for the year at about $0.10 per share.

“We do not expect any operational headwinds to offset some of the upside that we saw, but we do expect to see interest expense headwinds,” Knight said.

Integra expects third-quarter revenue of $410 million to $425 million, representing organic growth of 1.9% to 5.7%, and adjusted EPS of $0.53 to $0.61.

Specialty Surgery Growth Led by Neurosurgery Specialty Surgery revenue totaled $309.3 million, increasing 1.7% on a reported basis and 1.6% organically. Global Neurosurgery grew 1.9% organically, supported by demand for Certas Plus, CUSA and Bactiseal as supply fulfillment improved.

Capital equipment sales declined about 1%, as double-digit CUSA growth was offset by lower sales of smaller-ticket capital equipment. Knight said Integra continues to view the hospital capital environment positively and expects capital equipment growth for the full year.

Instruments revenue grew low single digits, benefiting partly from order timing compared with the first quarter. ENT revenue declined by low single digits, as growth in MicroFrance ENT instruments was more than offset by continuing pressure in sinus balloons. The company expects ENT revenue to decline for the full year and is focused on innovation in navigated systems and Eustachian-tube products to support longer-term growth.

Essig said the company’s improved supply position allows the commercial organization to be more proactive. Its new commercial structure is designed to increase accountability, accelerate decision-making and expand enterprise contracting. Integra plans to leverage relationships with group purchasing organizations and integrated delivery networks built through its neurosurgery and specialty surgery businesses to support Tissue Reconstruction and ENT products.

Tissue Reconstruction Faces Comparisons, Prepares SurgiMend Relaunch Tissue Reconstruction revenue was $109.5 million, down 1.9% on a reported basis and 2% organically. Wound Reconstruction was approximately flat for the first half of 2026 versus the prior year, a result management said remains consistent with its full-year expectations.

Integra Skin increased sequentially from the first quarter but declined from the prior-year period, when revenue benefited from a significant clearance of product backorders. MicroMatrix also declined, which Knight attributed to increased competition from new powder-form product entrants.

PriMatrix continued to gain traction following its relaunch. Essig said that about nine months after returning to the market, PriMatrix revenue had recovered to slightly more than 50% of pre-recall levels. He said the company has seen customer re-engagement and identified new opportunities while working to regain former customers.

Integra has restarted manufacturing at its Braintree facility and is building inventory for a controlled fourth-quarter relaunch of SurgiMend 510(k) product. The company expects no meaningful SurgiMend contribution in 2026, but Essig said it expects share recapture to build across multiple quarters. He described a modest initial recovery, referencing approximately 50% of SurgiMend’s historical $40 million performance.

The company is also pursuing PMA approvals for SurgiMend and DuraSorb in implant-based breast reconstruction. Essig said SurgiMend’s clinical safety and efficacy review has been completed and its PMA is pending a successful pre-approval inspection at Braintree. The company expects SurgiMend approval earlier in 2027 and DuraSorb approval later that year, subject to FDA timing and inspections.

Separately, Essig said Integra continues work to return MediHoney to market in 2027, though no contribution is included in 2026 guidance.

Cash Flow and Deleveraging Remain Priorities Operating cash flow was $22.8 million in the quarter, compared with $8.9 million a year earlier, despite including an $11 million final milestone payment related to the Sia acquisition. Free cash flow was $10.5 million, representing a 24% conversion rate.

As of June 30, Integra had net debt of $1.6 billion and a consolidated total leverage ratio of 4.1 times, down from 4.5 times at the end of 2025. Total liquidity was approximately $496 million, including $274 million in cash and short-term investments.

The company expects about a $150 million improvement in operating cash flow for 2026, driven by EBITDA growth, working-capital efficiency and lower cash expenditures related to EU MDR compliance and Braintree startup costs. Management said reducing leverage and repaying debt remain its top capital allocation priorities, with an objective of approaching the upper end of its 2.5-times to 3.5-times target leverage range by year-end.

Knight also said flooding in the Cincinnati area recently disrupted operations at a manufacturing site. Based on available distribution-center inventory, secondary supply sources and insurance coverage, Integra does not expect the event to materially affect its 2026 revenue or EPS guidance.

About Integra LifeSciences (NASDAQ:IART)Integra LifeSciences Corporation is a global medical technology company specializing in products and innovations for neurosurgery, regenerative medicine and reconstructive procedures. The company develops and markets surgical instruments, implants and advanced wound care solutions designed to support tissue repair and functional recovery. Its product portfolio includes collagen-based matrices, dural substitutes, hemostatic agents and specialized spinal and peripheral fixation devices.

Founded in 1989 and headquartered in Plainsboro, New Jersey, Integra has expanded its capabilities through targeted acquisitions and internal research efforts.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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PRINCETON, N.J., July 29, 2026 (GLOBE NEWSWIRE) -- Integra LifeSciences Holdings Corporation (Nasdaq: IART), a leading global medical technology company, today reported financial results for the second quarter ending June 30, 2026.

Second Quarter 2026 Highlights

Second quarter revenues of $418.8 million increased 0.8% on a reported basis and 0.7% on an organic basis compared to the prior year. Second quarter GAAP earnings per diluted share of $0.06, compared to $(6.31) in the prior year. Adjusted earnings per diluted share of $0.56, compared to $0.45 in the prior year.The Company is updating its reported revenue guidance range to $1.654 billion to $1.695 billion to reflect the impact of a stronger U.S. dollar on foreign exchange rates.The Company is reaffirming its 2026 full-year organic revenue growth guidance of 0.8% to 3.3% and adjusted earnings per share guidance of $2.40 to $2.50.The Company initiated production at its Braintree manufacturing facility and remains on track for the planned fourth-quarter relaunch of SurgiMend®.
"Our second-quarter performance reflects meaningful progress on our most important priorities. We are improving supply reliability, advancing quality, and returning products to market with discipline. The Braintree facility is now producing and ramping to support the planned SurgiMend relaunch later this year," said Stuart Essig, Chairman and CEO of Integra LifeSciences.

"At the same time, we are seeing the benefits of a more aligned commercial organization while we continue to reduce our balance sheet leverage. Supported by our broad portfolio, attractive markets, and focused leadership team, we are strengthening our operating foundation and enhancing our ability to deliver sustainable long-term shareholder value."

Second Quarter 2026 Consolidated Performance

Total reported revenues of $418.8 million increased 0.8% on a reported basis and 0.7% on an organic basis compared to the prior year.

The Company reported GAAP gross margin of 52.5%, compared to 50.4% in the second quarter of 2025. Adjusted gross margin was 61.3%, compared to 60.7% in the prior year.

Adjusted EBITDA for the second quarter of 2026 was $78.4 million, or 18.7% of revenue, compared to $71.2 million, or 17.1% of revenue, in the prior year.

The Company reported GAAP net income of $4.5 million, or $0.06 per diluted share, in the second quarter of 2026, compared to GAAP net loss of $(484.1) million, or $(6.31) per diluted share, in the prior year.

Adjusted net income for the second quarter of 2026 was $43.7 million, or $0.56 per diluted share, compared to $34.4 million, or $0.45 per diluted share, in the prior year.

Second Quarter 2026 Segment Performance

Specialty Surgery (~70% of Revenues)

Total revenues were $309.3 million, representing reported growth of 1.7% and an organic growth of 1.6% compared to the second quarter of 2025.

Sales in Neuro increased 1.9% on an organic basis primarily driven by growth in Certas® Plus, Bactiseal® and CUSA®.Sales in Instruments grew 3.2% on an organic basis.  ENT sales declined (1.9%) as MicroFrance® ENT instrument growth was offset by declines in other products.
Tissue Reconstruction (~30% of Revenues)

Total revenues were $109.5 million, representing reported and organic declines of (1.9)% and (2.0)% respectively compared to the second quarter of 2025. Key drivers for the quarter include:

Mid-single digit decline in wound reconstruction, driven by strong growth in DuraSorb® and the relaunch of PriMatrix®, offset by declines in MicroMatrix® and Integra Skin. Integra Skin faced a prior year comparison that included the clearance of back orders in the second quarter of 2025.Sales in private label grew 4.7%.   Balance Sheet, Cash Flow and Capital Allocation

The Company generated cash flow from operations of $22.8 million in the quarter. Net debt at the end of the quarter was $1.6 billion, and the consolidated total leverage ratio was 4.1x.

As of the end of the quarter, the Company had total liquidity of approximately $496 million, including $274.1 million in cash plus short-term investments and the remainder available under its revolving credit facility.

2026 Revenue and Adjusted Earnings Per Share Guidance

For the third quarter of 2026, the Company expects reported revenues in the range of $410 million to $425 million, representing reported growth of 2.0% to 5.7% and organic growth of 1.9% to 5.7%. The Company expects adjusted EPS in the range of $0.53 to $0.61 per share.

The Company is updating its reported revenue outlook from a range of $1.662 billion to $1.702 billion to a range of $1.654 billion to $1.695 billion to reflect the impact of a stronger U.S. dollar on foreign exchange rates. For the full year 2026, the Company is reaffirming its organic revenue growth guidance of 0.8% to 3.3% and adjusted earnings per share guidance of $2.40 to $2.50. The adjusted EPS outlook reflects updated tariff assumptions, a higher interest rate environment, and potential debt refinancing actions.

The Company's organic sales growth guidance for the third quarter and full year excludes the impact of acquisitions, divestitures, and foreign currency.

Conference Call and Presentation Available Online

Integra has scheduled a conference call for 8:30 a.m. ET on Wednesday, July 29, 2026, to discuss second quarter 2026 financial results and forward-looking financial guidance. The conference call will be hosted by Integra's senior management team and will be open to all listeners. Additional forward-looking information may be discussed in a question-and-answer session following the call. Integra's management team will reference a presentation during the conference call, which can be found on the Investor section of the website at investor.integralife.com.

A live webcast will be available on the Investors section of the Company’s website at investor.integralife.com. For those planning to participate on the call, register here to receive dial-in details and an individual pin. While not required, it is recommended to join 10 minutes prior to the event’s start. A webcast replay of the conference call will be available on the Investors section of the company's website following the call.

About Integra

Integra LifeSciences (Nasdaq: IART) is a global medical technology leader dedicated to restoring lives. We are advancing transformational care through impactful innovation in neurosurgery and tissue reconstruction, specialized fields that demand exceptional expertise and precision. Our portfolio of highly differentiated, gold-standard technologies are trusted by healthcare professionals to deliver life-saving care. For our latest news and information, visit www.integralife.com. 

Forward-Looking Statements

This news release 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 historical fact, are statements that could be deemed forward-looking statements. Some of these forward-looking statements may contain words like “will,” “believe,” “may,” “could,” “would,” “might,” “possible,” “should,” “expect,” “intend,” "forecast," "guidance," “plan,” “anticipate,” "target," or “continue,” the negative of these words, other terms of similar meaning or they may use future dates. Forward-looking statements contained in this news release include, but are not limited to, statements concerning: future business, operational and financial performance and the Company’s expectations and plans with respect to market opportunity, business and operational performance, strategic initiatives, capabilities, resources, manufacturing capabilities, product development, product availability and regulatory approvals, including expectations regarding the Company's Braintree facility and the the relaunch of SurgiMend in the fourth quarter of 2026. It is important to note that the Company’s goals and expectations are not predictions of actual performance. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from predicted or expected results. Such risks and uncertainties include, but are not limited, to the following: increased geopolitical instability and other macroeconomic factors, including trade barriers and related restrictions (including tariffs and related countermeasures), armed conflict and acts of terrorism, geopolitical tension and instability, supply chain disruptions, and interest rate and foreign currency rate fluctuations, on the Company’s suppliers, vendors and customers and on the Company’s business and financial condition, results of operations and cash flows; the Company's ability to execute its financial, strategic and operating plans effectively; the Company's ability to remediate quality systems violations; difficulties in implementing the Company’s compliance master plan; difficulties or delays in obtaining and maintaining required regulatory approvals, including the costs thereof; potential difficulties, delays and disruptions in manufacturing, distribution or sale of products; the failure of the company’s suppliers, vendors, and other third parties to meet contractual, regulatory and other obligations; the anticipated development of markets the Company sells its products into and the success of the Company’s products in these markets; the Company’s ability to predict accurately the demand for its products and products under development; increasing industry competition; the coverage and reimbursement decisions of third-party payors; trends toward health care cost containment; difficulties in controlling expenses, including costs to procure and manufacture the Company’s products; the ability of the Company to successfully manage leadership and organizational changes and the impact of changes in management or staff levels; the impact of goodwill and intangible asset impairment charges if future operating results of acquired businesses are significantly less than the results anticipated at the time of the acquisitions, the geographic distribution of where the Company generates its taxable income; changes to applicable laws, regulations and enforcement guidance, including tax laws and global health care reforms; fluctuations in foreign currency exchange rates; the amount of our bank borrowings outstanding and other factors influencing liquidity; breaches, failures or other disruptions of our or our vendors’ or customers’ information technology systems or products; and the economic, competitive, governmental, technological, and other risk factors and uncertainties identified under the heading “Risk Factors” included in Item 1A of Integra's Annual Report on Form 10-K for the year ended December 31, 2025 and information contained in subsequent filings with the Securities and Exchange Commission.

These forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events, or otherwise, except as otherwise required by law.

Discussion of Adjusted 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 net income, adjusted gross margin, adjusted earnings per diluted share, and net debt. Organic revenues consist of total revenues excluding the effects of currency exchange rates, revenues from current-period acquisitions and product divestitures. Adjusted EBITDA consists of GAAP net income excluding: (i) depreciation and amortization; (ii) other income (expense); (iii) interest income and expense; (iv) income tax expense (benefit); (v) impairment charges; and (vi) those operating expenses also excluded from adjusted net income.   The measure of adjusted net income consists of GAAP net income, excluding: (i) structural optimization charges; (ii) divestiture, acquisition and integration-related charges; (iii) EU Medical Device Regulation-related charges; (iv) charges related to the transition of Boston-related manufacturing operations to the Company’s Braintree, Massachusetts facility (the "Braintree transition"); (v) intangible asset amortization expense; (vi) income tax impact from adjustments; and (vii) impairment charges.   The measure of adjusted gross margin is calculated by dividing adjusted gross profit by total revenues. Adjusted gross profit consists of GAAP gross profit adjusted for: (i) structural optimization charges; (ii) divestiture, acquisition and integration-related charges; (iii) charges related to Braintree transition; (iv) EU Medical Device Regulation-related charges; and (v) intangible asset amortization expense. The adjusted earnings per diluted share measure is calculated by dividing adjusted net income attributable to diluted shares by diluted weighted average shares outstanding. The measure of net debt consists of GAAP total debt (excluding deferred financing costs) less short-term investments, cash and cash equivalents.

The Company has included reconciliations of GAAP revenues to organic revenues, GAAP net income to adjusted EBITDA, and adjusted net income, GAAP gross margin to adjusted gross margin, and GAAP earnings per diluted share to adjusted earnings per diluted share all for the quarters ended June 30, 2026 and 2025. The Company has included a reconciliation of GAAP total debt to net debt for the quarters ended June 30, 2026 and December 31, 2025.  

The Company is providing forward-looking guidance regarding organic revenue and adjusted earnings per diluted share but is not providing reconciliations to the most directly comparable forward-looking GAAP financial measures because certain GAAP expense items and the impact of changes in foreign exchange rates are highly variable and management is unable to predict them with reasonable certainty and without unreasonable effort. Specifically, the actual impact of changes in foreign exchange rates and the financial impact and timing of divestitures, acquisitions, integrations, structural optimization, efforts to comply with the EU Medical Device Regulation, and income tax impact from adjustments are uncertain, depend on various dynamic factors and are not reasonably ascertainable at this time. The unavailable information could have a material impact on GAAP results.

The Company believes that the presentation of organic revenues and the other non-GAAP measures provide important supplemental information to management and investors regarding financial and business trends relating to the Company's financial condition and results of operations.   For further information regarding why Integra believes that these non-GAAP financial measures provide useful information to investors, the specific manner in which management uses these measures, and some of the limitations associated with the use of these measures, please refer to the Company's Current Report on Form 8-K regarding this earnings press release filed today with the Securities and Exchange Commission. This Current Report on Form 8-K is available on the SEC's website at www.sec.gov or on our website at www.integralife.com. 

Investor Relations Contact:
Chris Ward
(609) 772-7736
[email protected] 

Media Contact:
Laurene Isip
(609) 208-8121
[email protected] 

INTEGRA LIFESCIENCES HOLDINGS CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

(In thousands, except per share amounts)

 Three Months Ended June 30,  2026   2025 Total revenue, net$418,761  $415,605     Costs and expenses:   Cost of goods sold 199,017   206,273 Research and development 24,253   26,997 Selling, general and administrative 172,436   179,890 Intangible asset amortization 3,770   3,754 Goodwill impairment charge —   511,365 Total costs and expenses 399,476   928,279 Operating income (loss) 19,285   (512,674)Interest income 4,267   4,710 Interest expense (22,994)  (21,042)Other income (expense), net 4,186   (1,946)Income (loss) before income taxes 4,744   (530,952)Provision (benefit) for income taxes 262   (46,879)Net income (loss)$4,482  $(484,073)    Net income (loss) per share   Diluted$0.06  $(6.31)    Weighted average common shares outstanding 78,168   76,695      The following table presents revenues disaggregated by the major sources for the three months ended June 30, 2026 and 2025 (amounts in thousands):

 Three Months Ended June 30,  2026  2025ChangeNeurosurgery$213,264 $208,9922.0%Instruments 54,806  53,0803.3%ENT 41,199  41,886(1.6)%Total Specialty Surgical 309,269  303,9581.7%    Wound Reconstruction Solutions 81,305  84,747(4.1)%Private Label 28,187  26,9004.8%Total Tissue Reconstruction 109,492  111,647(1.9)%Total Reported Revenues$418,761 $415,6050.8%    Impact of changes in currency exchange rates (440) — Total organic revenues(1)$418,316 $415,6050.7% (1) Organic revenues have been adjusted to exclude foreign currency (current period), acquisitions and to account for divested and discontinued products.

Items included in GAAP net income and location where each item is recorded are as follows:

(In thousands)

Three Months Ended June 30, 2026

ItemTotal
AmountCOGS(a)SG&A(b)R&D(c)Amort (d)OI&E(e)Tax(f)Acquisition, divestiture and integration-related charges2,383 351,503 599—247— Structural Optimization charges7,513 3,3664,094 53——— EU Medical Device Regulation charges2,439 2181,017 1,205——— Braintree Transition9,918 10,309(398) 7——— Intangible asset amortization expense26,969 23,198— —3,770—— Estimated income tax impact from above adjustments and other items(9,992) —— ———(9,992) Depreciation expense10,154 —— ————  a) COGS - Cost of goods sold
b) SG&A - Selling, general and administrative
c) R&D - Research & development
d) Amort. - Intangible asset amortization
e) OI&E - Other income & expense
f) Tax - Income tax expense (benefit)

Items included in GAAP net income and location where each item is recorded are as follows:

(In thousands)

Three Months Ended June 30, 2025

ItemTotal
AmountCOGS(a)SG&A(b)R&D(c)Amort (d)OI&E(e)Tax(f)Acquisition, divestiture and integration-related charges4,963 —4,258270 —435— Structural Optimization charges5,944 5,1871,073(316) ——— EU Medical Device Regulation charges10,681 1,1424,2005,338 ——— Braintree Transition13,630 13,53298— ——— Intangible asset amortization expense26,795 23,041—— 3,754—— Estimated income tax impact from above adjustments and other items(54,940) ——— ——(54,940) Depreciation expense10,955 ——— ———  a) COGS - Cost of goods sold
b) SG&A - Selling, general and administrative
c) R&D - Research & development
d) Amort. - Intangible asset amortization
e) OI&E - Other income & expense
f) Tax - Income tax expense (benefit)

RECONCILIATION OF NON-GAAP ADJUSTMENTS - GAAP NET INCOME TO ADJUSTED EBITDA
(UNAUDITED)
 (In thousands) Three Months Ended June 30,  2026   2025     GAAP net income (loss)$4,482  $(484,073)Non-GAAP adjustments:   Goodwill impairment charges —   511,365 Depreciation and intangible asset amortization expense 37,123   37,750 Other (income) expense, net (4,186)  1,511 Interest expense, net 18,480   16,332 Income tax expense 262   (46,879)Structural optimization charges 7,513   5,944 EU Medical Device Regulation charges 2,439   10,681 Braintree Transition 9,918   13,630 Acquisition, divestiture and integration-related charges 2,383   4,963 Total of non-GAAP adjustments 73,932   555,297 Adjusted EBITDA$78,414  $71,224      RECONCILIATION OF NON-GAAP ADJUSTMENTS - GAAP NET INCOME TO MEASURES OF ADJUSTED NET INCOME AND ADJUSTED EARNINGS PER SHARE
(UNAUDITED)
 (In thousands, except per share amounts) Three Months Ended June 30,  2026   2025     GAAP net income (loss)$4,482  $(484,073)Non-GAAP adjustments:   Structural optimization charges 7,513   5,944 Acquisition, divestiture and integration-related charges 2,383   4,963 EU Medical Device Regulation charges 2,439   10,681 Braintree Transition 9,918   13,630 Goodwill impairment charges —   511,365 Intangible asset amortization expense 26,969   26,795 Estimated income tax impact from adjustments and other items (9,992)  (54,940)Total of non-GAAP adjustments 39,230   518,438 Adjusted net income$43,712  $34,365     Adjusted diluted net income per share$0.56  $0.45 Weighted average common shares outstanding for diluted net income per share 78,168   76,769  CONDENSED BALANCE SHEET DATA
(UNAUDITED)
 (In thousands)
 June 30,
2026 December 31,
2025    Short term investments$59,669 $28,693Cash and cash equivalents 214,415  235,048Trade accounts receivable, net 267,188  278,849Inventories, net 492,005  492,735    Current and long-term borrowing under senior credit facility 1,779,699  1,768,306Borrowings under securitization facility 92,600  87,800Convertible securities —  —        Stockholders' equity$1,043,377 $1,043,463     CONDENSED STATEMENT OF CASH FLOWS
(UNAUDITED)
 (In thousands)
 Six Months Ended June 30,  2026   2025     Net cash (used) provided by operating activities$32,605  $(2,338)Net cash used in investing activities (58,131)  (57,568)Net cash provided by financing activities 7,479   14,238 Effect of exchange rate changes on cash and cash equivalents (2,586)  17,207     Net decrease in cash and cash equivalents$(20,633) $(28,461)     RECONCILIATION OF NON-GAAP ADJUSTMENTS - GAAP OPERATING CASH FLOW TO
MEASURES OF FREE CASH FLOW AND ADJUSTED FREE CASH FLOW CONVERSION
(UNAUDITED)
(In thousands)   Three Months Ended June 30,  2026  2025 Net cash provided by operating activities$22,802 $8,919    Purchases of property and equipment (12,307) (20,146)Free cash flow$10,495 $(11,227)   Adjusted net income(1)$43,712 $34,365 Adjusted free cash flow conversion 24.0%(32.7)%          Twelve Months Ended June 30,  2026  2025 Net cash provided by operating activities$85,327 $70,888    Purchases of property and equipment (59,525) (108,311)Free cash flow$25,802 $(37,423)   Adjusted net income(1)$190,633 $171,011 Adjusted free cash flow conversion 13.5%(21.9)%    (1) Adjusted net income for quarters ended June 30, 2026 and 2025 are reconciled above. Adjusted net income for remaining quarters in the trailing twelve months calculation have been previously reconciled and are publicly available in the Quarterly Earnings Call Presentations on our website at investor.integralife.com under Events & Presentations.

The Company calculates adjusted free cash flow conversion by dividing its free cash flow by adjusted net income. The Company believes this measure is useful in evaluating the significance of the cash special charges in its adjusted earnings measures.

RECONCILIATION OF NON-GAAP ADJUSTMENTS - NET DEBT CALCULATION
(UNAUDITED) (In thousands)  June 30,
2026December 31,
2025Short-term borrowings under senior credit facility$43,594 $38,750 Long-term borrowings under senior credit facility 1,736,105  1,729,556 Borrowings under securitization facility 92,600  87,800 Convertible securities —  — Deferred financing costs netted in the above 2,489  3,257 Short term investments (59,669) (28,693)Cash & Cash Equivalents (214,415) (235,048)Net Debt$1,600,704 $1,595,622     RECONCILIATION OF NON-GAAP ADJUSTMENTS - GAAP GROSS PROFIT TO MEASURES OF ADJUSTED GROSS PROFIT AND ADJUSTED GROSS MARGIN
(UNAUDITED)
(In thousands, except percentages)  Three Months Ended June 30,  2026   2025     Total revenues, net$418,761  $415,605 Cost of goods sold 199,017   206,273 Reported Gross Profit 219,744   209,332 Structural optimization charges 3,366   5,187 Acquisition, divestiture and integration-related charges 35   — Braintree Transition 10,309   13,532 EU Medical Device Regulation 218   1,142 Intangible asset amortization expense 23,199   23,041 Adjusted Gross Profit$256,871  $252,234 Total Revenues$418,761  $415,605 Adjusted Gross Margin 61.3%  60.7%

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