PRINCETON, N.J. — May 5, 2026 — Leads & Copy — Integra LifeSciences Holdings Corporation (Nasdaq: IART) reported its first-quarter financial results, with revenues of $391.9 million, a 2.4% increase on a reported basis and a 1.3% increase on an organic basis compared to the previous year.
The company’s GAAP earnings per diluted share were $(0.06), compared to $(0.33) in the prior year. Adjusted earnings per diluted share were $0.54, compared to $0.41 in the prior year.
Integra reaffirmed its full-year revenue guidance of $1.662 billion to $1.702 billion and updated its adjusted earnings per share guidance from $2.30-$2.40 to $2.40-$2.50.
Stuart Essig has been appointed as Integra’s next President and Chief Executive Officer, and Michael McBreen has been promoted to Chief Commercial Officer, as noted in a separate press release.
According to Stuart Essig, chairman and chief executive officer, the first-quarter results showed solid product demand and the impact of transformation efforts, with improving performance across the organization because of operational rigor and improved execution.
The company saw improved supply reliability during the quarter, supporting Integra Skin’s strong growth and the return to market with PriMatrix® and Durepair®. Integra also reported meaningful progress at its Braintree manufacturing facility and remains on track to begin production of SurgiMend® by the end of June to support a fourth-quarter launch.
Total reported revenues of $391.9 million increased 2.4% on a reported basis and 1.3% on an organic basis compared to the prior year. The GAAP gross margin was 55.4%, compared to 50.8% in the first quarter of 2025. The adjusted gross margin was 64.1%, compared to 62.2% in the prior year.
Adjusted EBITDA for the first quarter was $76.2 million, or 19.4% of revenue, compared to $63.6 million, or 16.6% of revenue, in the prior year. The GAAP net loss was $(4.6) million, or $(0.06) per diluted share, compared to a GAAP net loss of $(25.3) million, or $(0.33) per diluted share, in the prior year.
Adjusted net income was $41.6 million, or $0.54 per diluted share, compared to $31.7 million, or $0.41 per diluted share, in the prior year.
The company is changing its segment names, with Codman Specialty Surgical renamed Specialty Surgery and Tissue Technologies renamed Tissue Reconstruction. Product brand names remain unchanged. The change to segment names has no financial impact.
Specialty Surgery revenues were $283.1 million, representing reported growth of 0.9% and an organic decline of (0.6)% compared to the first quarter of 2025. Neuro sales increased 1.9% on an organic basis, driven by growth in Certas® Plus, CUSA® and Bactiseal®. Instruments sales declined (7.7%) on an organic basis because of order timing. ENT sales declined (3.8)%, as growth in MicroFrance® ENT instruments was offset by declines in other products.
Tissue Reconstruction revenues were $108.8 million, representing reported growth of 6.7% and organic growth of 6.4% compared to the first quarter of 2025. Key drivers for the quarter include mid-single digit growth in wound reconstruction, driven by double-digit growth in Integra Skin, DuraSorb® and the relaunch of PriMatrix®, partially offset by MediHoney®, and sales in private label grew 7.1% primarily because of a favorable prior-year comparable.
Cash flow from operations was $9.8 million in the quarter. Net debt at the end of the quarter was $1.6 billion, and the consolidated total leverage ratio was 4.1x. As of the end of the quarter, the company had total liquidity of approximately $488 million, including $265.5 million in cash plus short-term investments and the remainder available under its revolving credit facility.
Integra expects reported revenues in the range of $410 million to $425 million for the second quarter of 2026, representing reported growth of (1.3%) to 2.3% and organic growth of (1.5%) to 2.1%. Adjusted EPS is expected to be in the range of $0.44 to $0.52 per share.
For the full year, the company is reiterating its revenue guidance range to $1.662 billion to $1.702 billion, representing reported growth of 1.6% to 4.1% and organic growth of 0.8% to 3.3%. The company is updating its expected adjusted EPS to a range of $2.40 to $2.50 per share.
Integra LifeSciences (Nasdaq: IART) is a global medical technology leader dedicated to restoring lives through impactful innovation in neurosurgery and tissue reconstruction.
The company’s organic sales growth guidance for the second quarter and the full year excludes acquisitions and divestitures, as well as the effects of foreign currency.
Source: Integra LifeSciences
