Integra LifeSciences Files Q3 2024 10-Q

TL;DR

**Integra LifeSciences Q3 2024 10-Q filed. Financials and operations updated.**

AI Summary

Integra LifeSciences Holdings Corp. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter of 2024. Key financial figures and business segments are presented, reflecting the company's ongoing activities in the surgical and medical instruments sector.

Why It Matters

This filing provides investors with the latest financial results and operational details for Integra LifeSciences, crucial for understanding the company's current performance and future outlook.

Risk Assessment

Risk Level: medium — As a publicly traded company in the medical device sector, Integra LifeSciences is subject to market, regulatory, and operational risks inherent in the industry.

Key Numbers

• 2024 Q3 — Reporting Period (Financial results for the third quarter of 2024 are detailed.)
• 2024-09-30 — As of Date (Indicates the end date for the reported financial data.)
• 2023-09-30 — Prior Year Comparison Date (Used for year-over-year financial comparisons.)
• 2022-12-31 — Previous Year End (Provides context for year-end financial positions.)
• 0.0135739 — Share Price Indicator (Potentially related to share price or a small financial metric.)

Key Players & Entities

• INTEGRA LIFESCIENCES HOLDINGS CORP (company) — Filer
• 20240930 (date) — Period of Report
• 20241104 (date) — Filing Date
• PRINCETON (location) — Business Address City
• NJ (location) — Business Address State
• 08540 (postal_code) — Business Address Zip
• 6092750500 (phone_number) — Business Phone

FAQ

Key Financial Figures

• $0.01 — hares of the registrant's Common Stock, $0.01 par value, outstanding as of November 1

Filing Documents

• iart-20240930.htm (10-Q) — 1795KB
• iart-20240930xexx31e.htm (EX-3.1(E)) — 8KB
• iart-20240930xexx101.htm (EX-10.1) — 55KB
• iart-20240930xexx311.htm (EX-31.1) — 10KB
• iart-20240930xexx312.htm (EX-31.2) — 10KB
• iart-20240930xexx321.htm (EX-32.1) — 5KB
• iart-20240930xexx322.htm (EX-32.2) — 5KB
• 0000917520-24-000108.txt ( ) — 10788KB
• iart-20240930.xsd (EX-101.SCH) — 70KB
• iart-20240930_cal.xml (EX-101.CAL) — 91KB
• iart-20240930_def.xml (EX-101.DEF) — 389KB
• iart-20240930_lab.xml (EX-101.LAB) — 851KB
• iart-20240930_pre.xml (EX-101.PRE) — 621KB
• iart-20240930_htm.xml (XML) — 1912KB

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 Nine Months Ended September 30, 2024 and 2023 (Unaudited) 3 Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 (Unaudited) 4 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Changes in Shareholders' Equity for the Nine Months Ended September 30, 2024 and 2023 (Unaudited) 6 Notes to Unaudited Condensed Consolidated Financial Statements 8

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 35

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 48

Controls and Procedures

Item 4. Controls and Procedures 48

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 49

Risk Factors

Item 1A. Risk Factors 49

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 49

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 50

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 50

Other Information

Item 5. Other Information 50

Exhibits

Item 6. Exhibits 51

SIGNATURES

SIGNATURES 52 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Total revenue, net $ 380,834 $ 382,421 $ 1,167,881 $ 1,144,534 Costs and expenses: Cost of goods sold 180,596 164,076 534,892 486,292 Research and development 27,435 26,596 84,167 79,908 Selling, general and administrative 177,193 161,948 538,463 493,513 Intangible asset amortization 3,760 3,208 17,575 9,342 Total costs and expenses 388,984 355,828 1,175,097 1,069,055 Operating (loss) income ( 8,150 ) 26,593 ( 7,216 ) 75,479 Interest income 5,049 4,607 15,147 12,653 Interest expense ( 19,373 ) ( 13,062 ) ( 51,648 ) ( 37,626 ) Other income, net 2,112 471 2,939 1,705 (Loss) income before income taxes ( 20,362 ) 18,609 ( 40,778 ) 52,211 (Benefit) provision for income taxes ( 9,667 ) ( 888 ) ( 14,399 ) 4,304 Net (loss) income $ ( 10,695 ) $ 19,497 $ ( 26,379 ) $ 47,907 Net (loss) income per share Basic $ ( 0.14 ) $ 0.24 $ ( 0.34 ) $ 0.59 Diluted $ ( 0.14 ) $ 0.24 $ ( 0.34 ) $ 0.59 Weighted average common shares outstanding (See Note 13): Basic 76,448 79,690 77,196 80,842 Diluted 76,448 79,811 77,196 81,112 Comprehensive income (See Note 14) ( 16,823 ) 16,412 ( 36,126 ) $ 39,387 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) September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 215,157 $ 276,402 Short-term investments 62,441 32,694 Trade accounts receivable, net of allowances of $ 7,423 and $ 4,879 248,298 259,327 Inventories, net 436,930 389,608 Prepaid Expenses 86,326 67,362 Oth

View Full Filing

View this 10-Q filing on SEC EDGAR