What is the revenue and EPS growth rate for Integra Lifesciences Holdings year over year?

Did Integra Lifesciences Holdings beat or miss consensus estimates last quarter?

What guidance did Integra Lifesciences Holdings's management provide for the next earnings period?

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What were the key takeaways from Integra Lifesciences Holdings's earnings call?

What were the key takeaways from Integra Lifesciences Holdings’s earnings call?

- **Revenue Growth Despite Challenges**: Q3 2025 organic revenue up 5%, driven by Neurosurgery and Wound Reconstruction, but offset by CSS supply disruptions.
- **Strategic Progress**: Relaunched PriMatrix/Durepair ahead of schedule via dual sourcing; Integra Skin yields improved 50%.
- **Cost Savings Initiative**: $25-30M 2026 savings from COGS and operating model efficiencies.
- **Financial Resilience**: Adjusted EPS beat ($0.54 vs. $0.41 prior year), despite 260bps gross margin headwinds.
- **Key Risks**: Private label partner softness, tariff impacts, and Compliance Master Plan costs weighing on margins.

**【CEO Summary Section】**
- **Revenue Performance**: Q3 2025 revenue of $402 million, reflecting 5% organic growth year-over-year, driven by strong demand in Neurosurgery and Wound Reconstruction. However, supply interruptions in CSS (Core Surgical Solutions) led to a shortfall below expectations.
- **Strategic Initiatives**: 
  - **Compliance Master Plan**: Progress on quality system improvements, including 50% yield improvement in Integra Skin and 2.5x inventory growth. PriMatrix and Durepair relaunched ahead of schedule via dual sourcing.
  - **Operational Excellence**: $25-30 million cost savings expected in 2026 through COGS optimization and operating model efficiencies.
  - **Product Pipeline**: SurgiMend production to resume in June 2026, targeting Q4 2026 launch. DuraSorb and Integra Skin growth offset MediHoney declines.

**【CFO Financial Commentary】**
- **Financial Highlights**: 
  - Adjusted EPS of $0.54 (vs. $0.41 prior year), exceeding guidance due to cost control.
  - Gross margin 62.9% (down 10bps YoY) due to remediation costs and tariffs, partially offset by higher-margin product mix.
  - Operating cash flow $41 million, free cash flow $25.8 million, reflecting improved liquidity management.
- **Guidance Update**: 
  - Full-year 2025 revenue $1.62-1.64 billion (0.6%-1.8% reported growth), adjusted EPS $2.19-2.24.
  - Q4 2025 revenue $420-440 million (5%-0.6% decline), EPS $0.79-0.84.
- **Key Drivers**: Entrenched supply chain challenges, private label partner softness, and tariff headwinds offset by disciplined expense management.

**【Q&A Key Highlights】**
- **Supply Chain Challenges**: Q3 CSS interruptions resolved, but Q4 performance constrained by production ramp rates and market seasonality.
- **Private Label Risks**: Ongoing softness from key partner, expected to stabilize in low single digits in 2026.
- **Gross Margin Outlook**: 2025 gross margin decline of ~260bps (200bps from remediation, 60bps from tariffs). 2026 margin stabilization contingent on supply chain normalization.
- **Product Relaunch Momentum**: PriMatrix/Durepair relaunch ahead of schedule, with early physician feedback positive. SurgiMend launch in Q4 2026 on track.
- **Leverage Management**: 2025 leverage ratio 4.3x, targeting reduction in 2026 through EBITDA growth and debt repayment.

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