Integra LifeSciences Holdings Corporation (Nasdaq: IART) manufactures surgical devices, instruments and regenerative tissue products for neurosurgery, ENT, wound treatment and reconstruction. It sells through direct teams and distributors to healthcare providers and supplies other medical-technology companies.
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A snapshot of what INTEGRA LIFESCIENCES HOLDINGS CORP owns and owes at a point in time.
Read the company’s balance sheet in the original annual reports below.
Browse original filingsSee the original statement for its reporting period, currency, and unit.
3 reports in this collection
| Report period | Filed with SEC | Form | Source |
|---|---|---|---|
| Dec 31, 20230000917520-24-000022 | Feb 28, 2024 | 10-K | Open 10-Ksec.gov |
| Dec 31, 20240000917520-25-000017 | Feb 25, 2025 | 10-K | Open 10-Ksec.gov |
| Dec 31, 20250000917520-26-000011 | Feb 26, 2026 | 10-K | Open 10-Ksec.gov |
Dates describe the filing metadata. Figures and reporting periods should be checked against the original statement. SEC links open in a new tab.
Integra’s recovery is progressing, but manufacturing reliability and financing costs remain central constraints. Its 2025 revenue increase masked organic contraction, weaker margins and poor cash conversion; a large noncash goodwill impairment amplified the GAAP loss. Through September 2026, earnings and operating cash flow improved as remediation spending declined, collections strengthened and tariff refunds arrived. The improvement is not uniformly recurring: Cincinnati flood insurance, tariff recoveries and lower capital spending complicate comparisons, while Tissue Reconstruction remains uneven. October’s completed refinancing extended maturities and eased the disclosed 2027 leverage schedule, but at higher expected interest cost—not through debt forgiveness or an equivalent cash injection. As of October 24, the outlook still depended on manufacturing recovery, product returns, regulatory execution and expected business-interruption insurance benefits that had not yet been recognized.
Sources: 10-K · 2025-12-31 · 10-Q · 2026-09-30 · 8-K · 2026-10-19 · EX-99.1 · 2026-10-21
Integra combines capital equipment and reusable instruments with implants, consumables and biomaterials. Its larger business, now Specialty Surgery, covers neurosurgery, neurocritical care, instruments and ENT; Tissue Reconstruction covers wound and surgical repair plus manufacturing for other device companies. The businesses generated $1,200.5 million and $434.7 million of 2025 revenue, respectively, under their former names. No customer represented at least 10% of consolidated sales in 2023–2025. Specialized applications do not establish unrestricted pricing power: reimbursement, purchasing groups and procurement tenders constrain access and pricing. Manufacturing interruptions can simultaneously remove sales and leave substantial fixed costs in place.
Sources: 10-K · 2025-12-31 · 10-K · 2024-12-31 · 10-Q · 2026-09-30
For the year ended December 31, 2025, revenue reached $1,635.2 million, up a reported 1.5%, while company-defined organic sales declined 0.7%. A full year of Acclarent and recovery from earlier shipping holds supported Specialty Surgery; MediHoney problems and weaker private-label sales weighed on Tissue Technologies. The $516.5 million GAAP loss included $511.4 million of noncash goodwill impairment. Nevertheless, gross margin fell from 54.8% to 50.9%, and adjusted net income declined from $196.9 million to $171.4 million. Management identified quality problems, manufacturing costs and tariffs as pressures. Lower overhead and favorable acquisition-liability remeasurement provided offsets, rather than evidence that the underlying difficulties had ended.
Sources: 10-K · 2025-12-31 · EX-99.1 · 2026-02-26
Third-quarter 2026 revenue was $411.2 million, up 2.3% reported and 2.5% organically. Neurosurgery growth outweighed weaker instruments, ENT and Tissue Reconstruction. GAAP net income improved to $14.9 million from a $5.4 million loss, helped by both operating improvement and higher other income; adjusted net income increased more modestly to $46.4 million. Adjusted gross margin nevertheless fell to 61.1% from 62.9%, without a complete disclosed causal bridge. July 17 flooding at Cincinnati reduced quarterly revenue by an estimated $7 million. Full manufacturing recovery remained targeted for second-quarter 2027. Separately, Braintree became operational in June, but the planned fourth-quarter SurgiMend relaunch was not yet established as completed.
Sources: 10-Q · 2026-09-30 · EX-99.1 · 2026-10-21
Operating cash flow fell to $50.4 million in 2025, below $81.4 million of capital expenditure, as inventory absorbed cash. In the first nine months of 2026, operating cash flow recovered to $128.6 million and capital expenditure declined to $37.4 million. Lower quality-related spending and better collections helped, but tariff refunds and insurance receipts also supported cash; inventory write-offs mean that declining inventory balances cannot all be treated as cash release. Operating asset-and-liability movements still used $19.6 million, with SIA contingent-consideration payments contributing to the decrease in accrued liabilities. The acquisition-liability table separately reports total SIA payments of $17.962 million and a $1.438 million fair-value reduction; the $6.8 million financing cash use is a classification component, not an additional payment or the total SIA cash payment. The resulting zero recorded liability is not itself proof of legal release: the quarterly narrative separately states that no PMA milestone amount was payable at September 30 because approval had not been obtained by the applicable milestone date. September cash was $252.3 million, with $59.7 million of separate short-term investments. The larger $559 million liquidity headline included revolving-credit availability, not additional cash. Neither operating cash flow nor adjusted free cash flow is accounting profit.
Sources: 10-K · 2025-12-31 · 10-Q · 2026-09-30 · EX-99.1 · 2026-10-21
On October 19, 2026, Integra completed a refinancing comprising a $600 million revolver, $600 million Term Loan A, $450 million Term Loan B and $450 million of 9.5% secured notes. The package replaced the old senior facility and funded transaction costs; its $2.1 billion size includes commitments and is not an equivalent increase in debt or cash. Maturities extend into 2031 and 2033. Management disclosed a 4.25-times leverage step-down during 2027 instead of the former 4.0-times level, while expecting the effective interest-rate increase near the upper end of 100–200 basis points. Final drawings, fees, post-closing cash and independently verified covenant headroom were not established.
Sources: 8-K · 2026-10-19 · EX-99.1 · 2026-10-19 · 10-Q · 2026-09-30 · EX-99.1 · 2026-10-21
The October 21 outlook retained full-year 2026 revenue of $1.634–$1.654 billion, adjusted diluted EPS of $2.30–$2.40 and operating cash flow of approximately $190–$200 million. These are forecasts, not achieved results or GAAP EPS guidance. Expected lost-revenue insurance recoveries support adjusted EPS, although none had been recognized through September. Related Class III approvals remain constrained by unresolved quality-system violations; manufacturing progress is not FDA closure. Additional dependencies include specialized suppliers, reimbursement, tariffs and substantial debt service. Securities litigation and the previously disclosed cyber investigation also remain relevant: the later quarterly filing does not establish their resolution merely by omitting a new incident description.
Sources: EX-99.1 · 2026-10-21 · 8-K · 2026-10-21 · 10-Q · 2026-09-30 · 10-K · 2025-12-31
USD 1.635245 bn
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 1.635245 bn | 1.5% |
| 2024 | USD 1.610527 bn | 4.5% |
| 2023 | USD 1.541573 bn | — |
Consolidated revenue from products, royalties and other services, net of allowances.
Sources: 10-K · 2025-12-31
USD -516.474 m
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD -516.474 m | Loss widened |
| 2024 | USD -6.944 m | — |
Consolidated net income or loss after income taxes.
Sources: 10-K · 2025-12-31
USD 67.741 m
FY2023 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2023 | USD 67.741 m | — |
Consolidated net income or loss after income taxes.
Sources: 10-K · 2025-12-31
USD 50.384 m
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 50.384 m | -61.1% |
| 2024 | USD 129.382 m | -7.6% |
| 2023 | USD 139.955 m | — |
Consolidated operating cash flow after operating asset and liability changes.
Sources: 10-K · 2025-12-31
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