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Jun 30, 2025
Establishment Labs Q2 2025 Earnings Report
Establishment Labs reported its financial results for the second quarter ended June 30, 2025, showing increased revenue and improved gross margin.
Key Takeaways
Establishment Labs reported a strong second quarter in 2025, with worldwide revenue increasing by 16.3% year-over-year to $51.3 million, driven by significant Motiva sales in the United States. The company also improved its gross margin to 68.8% and reduced its adjusted EBITDA loss and cash use compared to the previous quarter, indicating increasing scale and improved cost efficiencies. The company raised its full-year revenue guidance.
Worldwide revenue for Q2 2025 reached $51.3 million, a 16.3% increase year-over-year.
Gross margin improved to 68.8% in Q2 2025, up from 65.6% in the prior year period.
Adjusted EBITDA loss for Q2 2025 was $8.5 million, an improvement from $12.1 million in the first quarter.
Cash balance stood at $54.6 million as of June 30, 2025, with an additional $25 million available under credit line.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Establishment Labs increased its 2025 revenue guidance and expects continued growth driven by US sales momentum, new product approvals, and expansion into breast reconstruction. The company is on track to achieve positive EBITDA in 2025 and become cash flow positive in 2026.
Positive Outlook
- Increased 2025 revenue guidance to $208 million to $212 million, representing 25%-28% year-over-year growth.
- Anticipates at least $40 million in US Motiva revenue for 2025.
- Continued US sales momentum into the third quarter.
- Expects growth drivers from higher surgeon utilization and new account additions in the US.
- On track to achieve positive EBITDA in 2025 and become cash flow positive in 2026.
Challenges Ahead
- No specific negative forward guidance points were explicitly stated in the provided text. The company's outlook was overwhelmingly positive.
Historical Earnings Impact
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