Integra LifeSciences reported second-quarter 2026 results with total revenue of $418.8 million and GAAP net income of $4.5 million (diluted EPS $0.06). Adjusted diluted earnings per share were $0.56 and adjusted EBITDA was $78.4 million for the quarter. The company reaffirmed full-year 2026 organic revenue growth guidance of 0.8%–3.3% and adjusted EPS guidance of $2.40–$2.50 while updating reported revenue range to reflect FX headwinds.

Financial Highlights

  • Total reported revenues: $418.8 million for the three months ended June 30, 2026 (up 0.8% reported; 0.7% organic vs. prior year).
  • Reported (GAAP) gross margin: 52.5%; reported gross profit: $219.744 million.
  • Adjusted gross margin: 61.3% (adjusted gross profit: $256.871 million).
  • Operating income: $19.285 million for the quarter; GAAP net income: $4.482 million, diluted EPS $0.06.
  • Adjusted net income: $43.712 million; adjusted diluted earnings per share: $0.56. Adjusted EBITDA: $78.414 million (18.7% of revenue).

Business Highlights

  • Segment mix: Specialty Surgery represented roughly 70% of revenues ($309.3 million) and Tissue Reconstruction about 30% ($109.5 million).
  • Specialty Surgery performance: Total segment revenue grew 1.7% reported (1.6% organic); Neurosurgery sales increased ~2.0% driven by Certas Plus, Bactiseal and CUSA; Instruments grew ~3.2% organic; ENT declined modestly.
  • Tissue Reconstruction trends: Segment revenues declined 1.9% reported (2.0% organic); wound reconstruction down mid-single digits while DuraSorb and the PriMatrix relaunch showed strength; private label grew 4.7%.
  • Operations milestone: Production initiated at the Braintree manufacturing facility and remains on track for a planned fourth-quarter relaunch of SurgiMend.
  • Cash flow and liquidity: Generated operating cash flow of $22.8 million in the quarter; net debt $1.6 billion and total liquidity approximately $496 million (cash/short-term investments $274.1 million plus revolver availability).

Original SEC Filing:

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