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Dec 31, 2025
Establishment Labs Q4 2025 Earnings Report
Establishment Labs reported a significant reduction in net loss and achieved positive adjusted EBITDA in the fourth quarter of 2025.
Key Takeaways
Establishment Labs saw a 45.2% revenue increase in Q4 2025, driven by strong demand for Motiva and the launch of Preservé. The company achieved a milestone of positive adjusted EBITDA for the second half of the year and significantly narrowed its operating loss.
Quarterly revenue grew 45.2% year-over-year to $64.6 million.
Achieved positive Adjusted EBITDA of $5.5 million in Q4 2025 compared to a loss of $13.1 million in Q4 2024.
Motiva U.S. revenue contributed $17.3 million in its first full quarter since launch.
Operating loss was reduced by 79% compared to the prior year period.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company expects continued strong growth in 2026 and projects reaching positive cash flow.
Positive Outlook
- 2026 revenue guidance of $264 million to $266 million.
- Expected annual revenue growth of at least 25% in both 2026 and 2027.
- Positioned for first quarter of positive cash flow in 2026.
- Projected full year of positive cash flow in 2027.
- Strong demand for Preservé and Mia Femtech platforms globally.
Challenges Ahead
- Ongoing R&D costs related to regulatory and compliance timing.
- Increased interest expense due to debt obligations.
- Potential risks related to the rate of adoption by healthcare providers.
- Dependence on successful commercialization of new product offerings.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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