Establishment Labs Holdings Inc. (ESTA) Q2 2025 Earnings Call Transcript
Revenue Revenue in the second quarter totaled $51.3 million, a growth of 16% over last year. Excluding the positive impact of foreign exchange, growth would have been approximately 14.3% versus a year ago. Reasons for growth include higher margin sales in the United States and strong performance in direct markets.
U.S. Revenue Second quarter sales in the United States were $10.3 million, exceeding the $9.5 million to $10 million range provided earlier. U.S. revenue is expected to exceed $40 million for the year. Growth is attributed to the superior product benefits of Motiva and successful account acquisition.
European Direct Market Sales Sales in European direct markets increased by approximately 27% this quarter, excluding the benefit of currency and the acquisition of the Benelux distributor. Growth reflects a new sales record and improved operational processes.
Gross Profit Gross profit for the second quarter was $35.3 million or 68.8% of revenue, a 320 basis point increase compared to the 65.6% of revenue for the same period in 2024. The increase reflects higher margin sales in the United States.
Adjusted EBITDA Adjusted EBITDA loss for the quarter was $8.5 million, an improvement from the $12.1 million in the first quarter. The improvement is due to better operating profitability and reduced expenses.
Cash Use Cash use fell to $14.5 million from $21.2 million last quarter. The reduction is attributed to improved cash flow management and operational efficiencies.
Operating Expenses Total operating expenses for the second quarter increased by approximately $11.1 million from the year-ago period to $49.4 million. The increase was primarily due to the ramp-up of commercial activity in the United States, including the Megan Trainer campaign and higher shipping costs.
Latin American Distributors Latin American distributors grew double digits in the second quarter. Stabilization in Brazil and strong growth in Argentina contributed to this performance.
Asia Pacific Sales Asia Pacific sales were 15% of total sales. While there was sequential growth, results were down year-over-year, mostly due to challenges in China and timing of orders from other distributors.
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Vanguard Health Care ETF Sees 14.9% Insider Buying in Holdings
- Insider Buying Ratio: The Vanguard Health Care ETF (VHT) shows that 14.9% of its holdings have experienced insider buying in the past six months, indicating strong confidence from executives that could positively influence investor sentiment.
- Teleflex Activity: Teleflex (TFX), comprising 0.07% of VHT, has seen 5 directors and officers purchase shares in the last six months, suggesting internal optimism about its stock price, which may bolster market confidence in the company.
- Establishment Labs Activity: Establishment Labs (ESTA), ranked 216th in VHT with a holding value of approximately $3,464,977, recently had 2 directors and officers file Form 4s indicating purchases, reflecting a positive outlook on the company's future growth.
- ETF Holding Value: The Vanguard Health Care ETF holds a total of $13,702,466 worth of TFX, making it the 106th largest holding, showcasing the ETF's strategic investment in the healthcare sector, which may attract more investors focused on this industry.
Establishment Labs CEO to Present at J.P. Morgan Healthcare Conference on January 14, 2026
- Executive Presentation: Establishment Labs CEO Peter Caldini and CFO Raj Denhoy will present at the 44th Annual J.P. Morgan Healthcare Conference on January 14, 2026, at 9:45 AM PT, showcasing the company's latest advancements in women's health.
- Live Webcast: The presentation will be available via a live webcast on Establishment Labs' investor relations website, allowing global investors to gain real-time insights into the company's strategic direction and market dynamics, thereby enhancing investor confidence.
- Product Innovation: Establishment Labs has delivered over four million Motiva® devices since 2010, establishing the company as a leader in breast aesthetics and reconstruction, significantly improving patient satisfaction and safety standards.
- Technological Strength: With over 200 patent applications and more than 100 scientific studies, the company demonstrates its innovative capabilities and competitive edge in the women's health technology sector.
Establishment Labs CEO to Present at 2026 J.P. Morgan Healthcare Conference
- Executive Presentation Schedule: Establishment Labs CEO Peter Caldini and CFO Raj Denhoy will present at the J.P. Morgan Healthcare Conference on January 14, 2026, showcasing the company's latest advancements in women's health, which is expected to attract investor interest.
- Technology Innovation Showcase: The company is dedicated to improving women's health through science and engineering, offering breast aesthetics and reconstruction solutions in over 90 countries, demonstrating its extensive influence in the global market.
- Product Delivery Achievement: Since 2010, Establishment Labs has delivered over 4 million Motiva® devices, establishing a new standard for safety and patient satisfaction, further solidifying its leadership position in the medical device industry.
- R&D Strength: With over 200 patent applications and more than 100 scientific studies, the company demonstrates its ongoing innovation capabilities in breast health, which is expected to drive future market growth.
Establishment Labs Submits Motiva Implants for FDA Approval in Breast Reconstruction
- FDA Approval Expansion: Establishment Labs has submitted Motiva implants for breast reconstruction approval, marking a significant advancement in women's health and expected to meet the urgent market demand for innovative reconstruction technologies.
- Clinical Study Results: The Motiva U.S. IDE study, conducted at 17 U.S. centers and one European center, included 274 patients, demonstrating the product's effectiveness in breast reconstruction, which could enhance the company's market share in the medical technology sector.
- Technological Innovation: Motiva implants feature a SmoothSilk® surface designed for enhanced biocompatibility and reduced inflammation, which is expected to improve patient satisfaction and surgical outcomes, further solidifying the company's leadership position in the industry.
- Market Potential: Since receiving approval for breast augmentation in 2024, over 60,000 Motiva implants have been sold in the U.S., indicating strong market demand, and the recent approval for reconstruction indications is anticipated to further drive sales growth.
17.0% of FHLC Holdings Experiencing Recent Insider Purchases
Insider Buying Activity: 17.0% of the weighted holdings in the Fidelity MSCI Health Care Index ETF (FHLC) have seen insider buying in the past six months.
Avantor Inc (AVTR): This company, making up 0.12% of FHLC, has had two directors and officers purchase shares recently, with the ETF holding $3,215,377 worth of AVTR.
Establishment Labs Holdings Inc (ESTA): Representing approximately 0.02% of FHLC, ESTA has also seen insider purchases from two directors and officers, with the ETF holding $490,723 worth of ESTA.
Disclaimer: The views expressed in the article are those of the author and do not necessarily reflect the opinions of Nasdaq, Inc.
Establishment Labs Holdings (ESTA) Rises Over 27% Following Q3 2025 Earnings Report
Company Performance: Establishment Labs Holdings Inc. (NASDAQ: ESTA) reported Q3 2025 revenue of $53.78 million, a 33.7% year-over-year increase, exceeding analyst estimates by $1.5 million, while the EPS of negative $0.38 also surpassed expectations.
Growth in US Market: The company's US business, a key growth area, saw a 16% increase despite a seasonally slower quarter for breast procedures, with management anticipating a 20% market share in US breast augmentation by the end of 2025.
Sales Acceleration: Management noted that the fourth quarter is typically the strongest for breast augmentation, and they are already observing sales acceleration in the US market.
Investment Considerations: While ESTA shows potential as an investment, the article suggests that certain AI stocks may offer better upside potential and lower downside risk.
Vanguard Health Care ETF Sees 14.9% Insider Buying in Holdings
- Insider Buying Ratio: The Vanguard Health Care ETF (VHT) shows that 14.9% of its holdings have experienced insider buying in the past six months, indicating strong confidence from executives that could positively influence investor sentiment.
- Teleflex Activity: Teleflex (TFX), comprising 0.07% of VHT, has seen 5 directors and officers purchase shares in the last six months, suggesting internal optimism about its stock price, which may bolster market confidence in the company.
- Establishment Labs Activity: Establishment Labs (ESTA), ranked 216th in VHT with a holding value of approximately $3,464,977, recently had 2 directors and officers file Form 4s indicating purchases, reflecting a positive outlook on the company's future growth.
- ETF Holding Value: The Vanguard Health Care ETF holds a total of $13,702,466 worth of TFX, making it the 106th largest holding, showcasing the ETF's strategic investment in the healthcare sector, which may attract more investors focused on this industry.
Establishment Labs CEO to Present at J.P. Morgan Healthcare Conference on January 14, 2026
- Executive Presentation: Establishment Labs CEO Peter Caldini and CFO Raj Denhoy will present at the 44th Annual J.P. Morgan Healthcare Conference on January 14, 2026, at 9:45 AM PT, showcasing the company's latest advancements in women's health.
- Live Webcast: The presentation will be available via a live webcast on Establishment Labs' investor relations website, allowing global investors to gain real-time insights into the company's strategic direction and market dynamics, thereby enhancing investor confidence.
- Product Innovation: Establishment Labs has delivered over four million Motiva® devices since 2010, establishing the company as a leader in breast aesthetics and reconstruction, significantly improving patient satisfaction and safety standards.
- Technological Strength: With over 200 patent applications and more than 100 scientific studies, the company demonstrates its innovative capabilities and competitive edge in the women's health technology sector.
Establishment Labs CEO to Present at 2026 J.P. Morgan Healthcare Conference
- Executive Presentation Schedule: Establishment Labs CEO Peter Caldini and CFO Raj Denhoy will present at the J.P. Morgan Healthcare Conference on January 14, 2026, showcasing the company's latest advancements in women's health, which is expected to attract investor interest.
- Technology Innovation Showcase: The company is dedicated to improving women's health through science and engineering, offering breast aesthetics and reconstruction solutions in over 90 countries, demonstrating its extensive influence in the global market.
- Product Delivery Achievement: Since 2010, Establishment Labs has delivered over 4 million Motiva® devices, establishing a new standard for safety and patient satisfaction, further solidifying its leadership position in the medical device industry.
- R&D Strength: With over 200 patent applications and more than 100 scientific studies, the company demonstrates its ongoing innovation capabilities in breast health, which is expected to drive future market growth.
Establishment Labs Submits Motiva Implants for FDA Approval in Breast Reconstruction
- FDA Approval Expansion: Establishment Labs has submitted Motiva implants for breast reconstruction approval, marking a significant advancement in women's health and expected to meet the urgent market demand for innovative reconstruction technologies.
- Clinical Study Results: The Motiva U.S. IDE study, conducted at 17 U.S. centers and one European center, included 274 patients, demonstrating the product's effectiveness in breast reconstruction, which could enhance the company's market share in the medical technology sector.
- Technological Innovation: Motiva implants feature a SmoothSilk® surface designed for enhanced biocompatibility and reduced inflammation, which is expected to improve patient satisfaction and surgical outcomes, further solidifying the company's leadership position in the industry.
- Market Potential: Since receiving approval for breast augmentation in 2024, over 60,000 Motiva implants have been sold in the U.S., indicating strong market demand, and the recent approval for reconstruction indications is anticipated to further drive sales growth.
17.0% of FHLC Holdings Experiencing Recent Insider Purchases
Insider Buying Activity: 17.0% of the weighted holdings in the Fidelity MSCI Health Care Index ETF (FHLC) have seen insider buying in the past six months.
Avantor Inc (AVTR): This company, making up 0.12% of FHLC, has had two directors and officers purchase shares recently, with the ETF holding $3,215,377 worth of AVTR.
Establishment Labs Holdings Inc (ESTA): Representing approximately 0.02% of FHLC, ESTA has also seen insider purchases from two directors and officers, with the ETF holding $490,723 worth of ESTA.
Disclaimer: The views expressed in the article are those of the author and do not necessarily reflect the opinions of Nasdaq, Inc.
Establishment Labs Holdings (ESTA) Rises Over 27% Following Q3 2025 Earnings Report
Company Performance: Establishment Labs Holdings Inc. (NASDAQ: ESTA) reported Q3 2025 revenue of $53.78 million, a 33.7% year-over-year increase, exceeding analyst estimates by $1.5 million, while the EPS of negative $0.38 also surpassed expectations.
Growth in US Market: The company's US business, a key growth area, saw a 16% increase despite a seasonally slower quarter for breast procedures, with management anticipating a 20% market share in US breast augmentation by the end of 2025.
Sales Acceleration: Management noted that the fourth quarter is typically the strongest for breast augmentation, and they are already observing sales acceleration in the US market.
Investment Considerations: While ESTA shows potential as an investment, the article suggests that certain AI stocks may offer better upside potential and lower downside risk.
