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Sep 26
Integer Q3 2025 Earnings Report
Integer Holdings Corporation reported strong sales and profit growth in the third quarter of 2025, with updated 2025 sales and profit outlooks and preliminary outlooks for 2026 and 2027.
Key Takeaways
Integer Holdings Corporation delivered another strong quarter, with sales increasing 8% to $468 million, adjusted operating income up 14%, and adjusted EPS growing by 25%. The company's Cardio & Vascular segment saw significant growth, while the Other Markets segment experienced a planned decline. Total debt increased to $1.194 billion, primarily due to acquisitions.
Sales increased 8% to $468 million in Q3 2025, with organic growth of 7% compared to Q3 2024.
Non-GAAP adjusted EPS rose by 25% to $1.79, and non-GAAP adjusted net income increased by 27% to $63 million.
Adjusted operating income grew by 14% to $86 million, and adjusted EBITDA increased by 11% to $106 million.
Total debt increased by $204 million from the end of 2024 to $1.194 billion, resulting in a leverage ratio of 3.0 times adjusted EBITDA.
Integer
Integer
Integer Revenue by Segment
Revenue by Segment
Cardio & Vascular Revenue
CapyFin.comCardiac Rhythm Management & Neuromodulation Revenue
CapyFin.comOther Markets Revenue
CapyFin.com Forward Guidance
Integer Holdings Corporation updated its 2025 sales and profit outlook, expecting continued growth, and provided preliminary outlooks for 2026 and 2027, anticipating some headwinds in 2026 but a return to above-market organic growth in 2027.
Positive Outlook
- 2025 GAAP sales are projected to increase by 7% to 8%, reaching $1,840 million to $1,854 million.
- 2025 Non-GAAP adjusted operating income is expected to grow by 12% to 14%, totaling $319 million to $325 million.
- 2025 Non-GAAP adjusted EBITDA is forecasted to increase by 10% to 12%, ranging from $398 million to $404 million.
- 2025 Non-GAAP adjusted EPS is anticipated to rise by 19% to 21%, reaching $6.29 to $6.43.
- Cash flow from operating activities for 2025 is projected to be $230 million to $240 million, an increase of 12% to 17%.
Challenges Ahead
- 2025 GAAP operating income is expected to increase by a lower range of 6% to 9%, reaching $220 million to $226 million.
- 2025 GAAP income from continuing operations is projected to decrease by (20)% to (16)%, totaling $96 million to $101 million.
- 2025 GAAP diluted EPS from continuing operations is expected to decrease by (23)% to (19)%, ranging from $2.70 to $2.84.
- Preliminary 2026 outlook indicates reported sales could be down 2% to up 2% relative to 2025.
- Preliminary 2026 outlook suggests adjusted operating income could be down 5% to up 4% relative to 2025.
Revenue & Expenses
Visualization of income flow from segment revenue to net income