Integra LifeSciences Files 10-Q for Q2 2024

TL;DR

Integra LifeSciences 10-Q filed. Q2 2024 results are in.

AI Summary

Integra LifeSciences Holdings Corp. reported its financial results for the period ending June 30, 2024. The company's filing indicates a fiscal year end of December 31 and is incorporated in Delaware. Key financial data points and segment information are included in the report.

Why It Matters

This 10-Q filing provides crucial financial updates for Integra LifeSciences, offering insights into their performance and financial health for the second quarter of 2024.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the medical device industry can be subject to regulatory and market risks.

Key Numbers

• 2024 Q2 — Reporting Period (Financial results for the second quarter of 2024.)
• 1231 — Fiscal Year End (Indicates the end of the company's fiscal year.)

Key Players & Entities

• INTEGRA LIFESCIENCES HOLDINGS CORP (company) — Filer
• 20240630 (date) — Conformed Period of Report
• 20240729 (date) — Filed as of Date
• DE (location) — State of Incorporation
• 1100 CAMPUS ROAD (address) — Business Address
• PRINCETON (location) — City
• NJ (location) — State
• 08540 (zip_code) — Business Zip Code

FAQ

Key Financial Figures

• $0.01 — hares of the registrant's Common Stock, $0.01 par value, outstanding as of July 26, 2

Filing Documents

• iart-20240630.htm (10-Q) — 1699KB
• iart-20240630xexx311.htm (EX-31.1) — 10KB
• iart-20240630xexx312.htm (EX-31.2) — 10KB
• iart-20240630xexx321.htm (EX-32.1) — 5KB
• iart-20240630xexx322.htm (EX-32.2) — 5KB
• 0000917520-24-000094.txt ( ) — 10369KB
• iart-20240630.xsd (EX-101.SCH) — 68KB
• iart-20240630_cal.xml (EX-101.CAL) — 89KB
• iart-20240630_def.xml (EX-101.DEF) — 370KB
• iart-20240630_lab.xml (EX-101.LAB) — 828KB
• iart-20240630_pre.xml (EX-101.PRE) — 601KB
• iart-20240630_htm.xml (XML) — 1861KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 3 Condensed Consolidated Statements of Operations and Comprehensive Income for the Three and Six Months Ended June 3 0 , 2024 and 2023 (Unaudited) 3 Condensed Consolidated Balance Sheets as of Jun e 30 , 2024 and December 31, 2023 (Unaudited) 4 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 3 0 , 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Changes in Shareholders' Equity for the S ix Months Ended June 3 0 , 2024 and 2023 (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 33

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 45

Controls and Procedures

Item 4. Controls and Procedures 46

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 46

Risk Factors

Item 1A. Risk Factors 46

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 46

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 47

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 47

Other Information

Item 5. Other Information 47

Exhibits

Item 6. Exhibits 48

SIGNATURES

SIGNATURES 49 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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 Total revenue, net $ 418,175 $ 381,267 $ 787,047 $ 762,113 Costs and expenses: Cost of goods sold 192,258 174,241 354,296 322,216 Research and development 29,767 26,588 56,732 53,312 Selling, general and administrative 195,472 164,908 361,270 331,565 Intangible asset amortization 3,707 3,026 13,814 6,134 Total costs and expenses 421,204 368,763 786,112 713,227 Operating income ( 3,029 ) 12,504 935 48,886 Interest income 5,058 3,939 10,098 8,046 Interest expense ( 18,651 ) ( 12,464 ) ( 32,275 ) ( 24,564 ) Other (expense) income, net 1,437 ( 155 ) 827 1,234 (Loss) income before income taxes ( 15,185 ) 3,824 ( 20,415 ) 33,602 (Benefit) provision for income taxes ( 2,783 ) ( 360 ) ( 4,732 ) 5,192 Net (loss) income $ ( 12,402 ) $ 4,184 $ ( 15,683 ) $ 28,410 Net (loss) income per share Basic $ ( 0.16 ) $ 0.05 $ ( 0.20 ) $ 0.35 Diluted $ ( 0.16 ) $ 0.05 $ ( 0.20 ) $ 0.35 Weighted average common shares outstanding (See Note 13): Basic 77,409 80,966 77,572 81,418 Diluted 77,409 81,151 77,572 81,739 Comprehensive income (See Note 14) ( 20,482 ) 1,947 ( 19,303 ) $ 22,975 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) June 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 215,236 $ 276,402 Short-term investments 81,691 32,694 Trade accounts receivable, net of allowances of $ 10,992 and $ 4,879 271,155 259,327 Inventories, net 421,775 389,608 Prepaid Expenses 93,639 67,362 Other Current Assets 28,790 32,6

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View this 10-Q filing on SEC EDGAR