Integra Lifesciences Holdings Corp. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Integra Lifesciences Holdings Corp. filed its Q1 2024 10-Q report, detailing financial performance and corporate information.</b>

AI Summary

INTEGRA LIFESCIENCES HOLDINGS CORP (IART) filed a Quarterly Report (10-Q) with the SEC on May 6, 2024. Integra Lifesciences Holdings Corp. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. The company's principal executive offices are located at 1100 Campus Road, Princeton, NJ 08540. The company's fiscal year ends on December 31. The filing includes financial data for the periods ending March 31, 2024, December 31, 2023, and March 31, 2023.

Why It Matters

For investors and stakeholders tracking INTEGRA LIFESCIENCES HOLDINGS CORP, this filing contains several important signals. This 10-Q filing provides a quarterly update on Integra Lifesciences' financial health and operational status, crucial for investors to assess recent performance. The detailed financial statements and disclosures within the report are essential for understanding the company's revenue, expenses, and overall financial position as of Q1 2024.

Risk Assessment

Risk Level: low — INTEGRA LIFESCIENCES HOLDINGS CORP shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate red flags, indicating routine financial disclosure.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to identify any significant trends or changes in Integra Lifesciences' business operations.

Key Numbers

• 2024-03-31 — Report Period End Date (Conformed Period of Report)
• 2024-05-06 — Filing Date (Filed as of date)
• 2024-01-01 — Quarter Start Date (Reporting period start date)
• 2023-03-31 — Prior Year Quarter End Date (Prior year period end date)

Key Players & Entities

• INTEGRA LIFESCIENCES HOLDINGS CORP (company) — Filer name
• 0000917520 (company) — Central Index Key
• 3841 (industry) — Standard Industrial Classification
• 1100 CAMPUS ROAD (location) — Business address street 1
• PRINCETON (location) — Business address city
• NJ (location) — Business address state
• 08540 (location) — Business address zip
• 6092750500 (phone) — Business phone

FAQ

Industry Context

Integra Lifesciences Holdings Corp. operates in the medical instruments and apparatus industry, focusing on surgical and medical devices.

Regulatory Implications

The company is subject to standard SEC reporting requirements for public companies, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Analyze the revenue and net income figures for Q1 2024 and compare them to Q1 2023.
2. Examine any disclosures related to acquisitions, divestitures, or significant operational changes mentioned in the report.
3. Review the balance sheet and cash flow statement for changes in assets, liabilities, and liquidity.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-06: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the quarterly update for Q1 2024, providing the latest financial information compared to the previous quarter and the same quarter last year.

Key Financial Figures

• $0.01 — hares of the registrant's Common Stock, $0.01 par value, outstanding as of May 3, 202

Filing Documents

• iart-20240331.htm (10-Q) — 1367KB
• iart-20240331xexx102.htm (EX-10.2) — 29KB
• iart-20240331xexx311.htm (EX-31.1) — 10KB
• iart-20240331xexx312.htm (EX-31.2) — 10KB
• iart-20240331xexx321.htm (EX-32.1) — 5KB
• iart-20240331xexx322.htm (EX-32.2) — 5KB
• 0000917520-24-000061.txt (&nbsp;) — 8932KB
• iart-20240331.xsd (EX-101.SCH) — 64KB
• iart-20240331_cal.xml (EX-101.CAL) — 69KB
• iart-20240331_def.xml (EX-101.DEF) — 342KB
• iart-20240331_lab.xml (EX-101.LAB) — 756KB
• iart-20240331_pre.xml (EX-101.PRE) — 557KB
• iart-20240331_htm.xml (XML) — 1515KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 3 Condensed Consolidated Statements of Operations and Comprehensive Inco me for the Three Months Ended March 31, 2024 and 202 3 (Unaudited) 3 Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 202 3 (Unaudited) 4 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 202 3 (Unaudited) 5 Condensed Consolidated Statements of Changes in Shareholders' Equity for the Three Months Ended March 31, 2024 and 202 3 (Unaudited) 6 Notes to Unaudited Condensed Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 30

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 41

Controls and Procedures

Item 4. Controls and Procedures 41

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 42

Risk Factors

Item 1A. Risk Factors 42

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 42

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 42

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 42

Other Information

Item 5. Other Information 42

Exhibits

Item 6. Exhibits 43

SIGNATURES

SIGNATURES 44 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements INTEGRA LIFESCIENCES HOLDINGS CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (UNAUDITED) (Dollars in thousands, except per share amounts) Three Months Ended March 31, 2024 2023 Total revenue, net $ 368,872 $ 380,846 Costs and expenses: Cost of goods sold 162,038 147,975 Research and development 26,965 26,724 Selling, general and administrative 165,798 166,657 Intangible asset amortization 10,107 3,108 Total costs and expenses 364,908 344,464 Operating income 3,964 36,382 Interest income 5,040 4,107 Interest expense ( 13,624 ) ( 12,100 ) Other (expense) income, net ( 610 ) 1,389 (Loss) income before income taxes ( 5,230 ) 29,778 (Benefit) provision for income taxes ( 1,949 ) 5,552 Net (loss) income $ ( 3,281 ) $ 24,226 Net (loss) income per share Basic $ ( 0.04 ) $ 0.30 Diluted $ ( 0.04 ) $ 0.29 Weighted average common shares outstanding (See Note 13): Basic 77,735 81,871 Diluted 77,735 82,323 Comprehensive income (See Note 14) 1,179 $ 21,028 The accompanying unaudited notes are an integral part of these condensed consolidated financial statements. 3 Table of Contents INTEGRA LIFESCIENCES HOLDINGS CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Dollars in thousands, except per share amounts) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 591,906 $ 276,402 Short-term investments 71,194 32,694 Trade accounts receivable, net of allowances of $ 5,050 and $ 4,879 241,092 259,327 Inventories, net 403,422 389,608 Prepaid Expenses 72,667 67,362 Other Current Assets 35,369 32,643 Total current assets 1,415,650 1,058,036 Property, plant and equipment, net 345,356 340,199 Right of use asset - operating leases 151,834 156,184 Intangible assets, net 1,022,609 1,067,833 Goodwill 1,040,235 1,055,462 Deferred tax assets, net 34,175 46,080 Other assets 68,365 58,194 Total assets $ 4,078,224 $ 3,781,988

View Full Filing

View this 10-Q filing on SEC EDGAR