Integer Holdings Corp Reports 8% Sales Growth

By Hao Liu • Thursday, October 23 15:46 • Permanent Link

Integer Holdings Corporation has reported its third-quarter 2025 results, showcasing continued sales and profit growth. In the third quarter of 2025, sales increased by 8% to $468 million, with organic growth of 7%. The GAAP operating income decreased by $2 million to $56 million, a decrease of 3%, while the non-GAAP adjusted operating income increased by $10 million to $86 million, an increase of 14%. GAAP income from continuing operations increased by $3 million to $40 million, a 9% increase, and non-GAAP adjusted net income increased by $13 million to $63 million, a 27% increase. Adjusted EBITDA increased by $10 million to $106 million, an 11% increase.

From the end of 2024, total debt increased by $204 million to $1.194 billion, and non-GAAP net total debt increased by $204 million to $1.158 billion, resulting in a leverage ratio of 3.0 times adjusted EBITDA as of September 26, 2025. Looking ahead, the company is updating its 2025 sales and profit outlook and providing preliminary outlooks for 2026 and 2027.

In terms of product line performance, cardio & vascular sales increased by 15% in the third quarter of 2025 compared to the same period in 2024, driven by various factors including new product ramps and strong customer demand. Cardiac rhythm management & neuromodulation sales increased by 2%, driven by growth in emerging neuromodulation customers and normalized cardiac rhythm management growth. However, other markets sales decreased by 16% primarily due to the planned multi-year portable medical exit announced in 2022.

Looking at the 2025 outlook, the company is expecting a 7% to 8% increase in sales compared to the prior year, with adjusted operating income expected to increase by 12% to 14%. Additionally, the company anticipates adjusted EPS to increase by 19% to 21%. The preliminary outlooks for 2026 and 2027 indicate a potential downturn in reported sales and adjusted operating income, with adjusted EPS also expected to decrease during these periods.

The market has reacted to these announcements by moving the company's shares 1.08% to a price of $109.11. For the full picture, make sure to review Integer's 8-K report.

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