Establishment Labs 2025 Q3 Earnings Revenue Surges 33.7% as Losses Narrow

Establishment Labs (ESTA) reported Q3 2025 results marked by robust revenue growth and improved profitability. The company exceeded expectations with a 33.7% year-over-year revenue increase to $53.78 million and a 33.2% reduction in net losses to $-11.15 million. Management raised full-year revenue guidance above $210 million, reflecting confidence in sustained momentum.

Revenue

Establishment Labs’ total revenue surged 33.7% to $53.78 million in Q3 2025, driven by strong U.S. sales of its Motiva implants, which reached $11.9 million. The company’s revenue growth outpaced analyst estimates by 3.45%, highlighting its expanding market share in the breast augmentation sector.

Earnings/Net Income

The company narrowed its net loss to $-11.15 million, a 33.2% improvement from $-16.68 million in Q3 2024. Earnings per share (EPS) improved to -$0.38 from -$0.59, reflecting tighter cost controls and operational efficiencies. While losses persist, the trajectory signals progress toward long-term profitability.

Price Action

ESTA shares gained 1.44% in the latest trading day, 35.56% in the past week, and 62.01% month-to-date. Post-earnings momentum remains strong, with the stock trading near its 52-week high of $62.25.

Post-Earnings Price Action Review

The strategy of buying ESTA shares on revenue raise announcements has historically delivered an average 12.5% return over 30 days, with a maximum gain of 20.8%. This pattern underscores investor optimism around the company’s growth narrative, particularly as it achieves key milestones like positive EBITDA and market share gains.

CEO Commentary

Christopher M. Pasquale, President and CEO of Establishment Labs, highlighted the company’s resilience amid macroeconomic challenges. “Our 33.7% revenue growth and first-time positive EBITDA demonstrate our ability to execute despite supply chain pressures and inflationary headwinds,” he stated. Pasquale emphasized strategic investments in R&D and digital initiatives to strengthen market positioning, while acknowledging the need for continued cost discipline. He expressed cautious optimism about 2026, noting that the company’s focus on expanding minimally invasive solutions and deepening U.S. account penetration will drive long-term value creation.

Guidance

Management raised its full-year 2025 revenue guidance to exceed $210 million, surpassing the previous midpoint of $208-212 million. For 2026, the company anticipates at least doubling U.S. Motiva sales from $40 million+ and achieving $30 million in global revenue from minimally invasive solutions. The firm also confirmed timelines for the U.S. launch of Preservé in H1 2026 and FDA submission for a breast reconstruction label expansion by year-end.

Additional News

Recent analyst activity underscores confidence in ESTA’s trajectory. Mizuho raised its price target to $85 (from $70), while BTIG increased its target to $70 (from $62), both maintaining “Buy” ratings. The company’s liquidity remains strong, with a current ratio of 2.84, supporting its growth initiatives. Additionally, Establishment Labs plans to expand its U.S. Motiva sales footprint, targeting a 20% market share in breast augmentation by year-end.

Key Financials

• Revenue: $53.78M (+33.7% YoY)

• Net Loss: $-11.15M (-33.2% YoY)

• EPS: -$0.38 (+35.6% improvement YoY)

• Guidance: FY 2025 >$210M; 2026 U.S. Motiva sales >$80M