Integer Holdings Corp. Files Q3 2024 10-Q

TL;DR

Integer Holdings Q3 10-Q filed. Financials and ops update.

AI Summary

Integer Holdings Corp. filed its 10-Q for the period ending September 27, 2024. The filing details financial performance and operational updates for the third quarter of fiscal year 2024. Key financial figures and business segment information are presented, reflecting the company's ongoing activities in the electromedical and electrotherapeutic apparatus industry.

Why It Matters

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

Risk Assessment

Risk Level: medium — 10-Q filings inherently carry medium risk due to the detailed financial and operational information that can impact stock price.

Key Players & Entities

• Integer Holdings Corp. (company) — Filer of the 10-Q
• 20240927 (date) — End of reporting period
• 20241024 (date) — Filing date
• 3845 (number) — Standard Industrial Classification for Electromedical & Electrotherapeutic Apparatus
• GREATBATCH, INC. (company) — Former company name
• WILSON GREATBATCH TECHNOLOGIES INC (company) — Former company name

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value per share ITGR New York Stock

Filing Documents

• itgr-20240927.htm (10-Q) — 1713KB
• a2024q3ex311.htm (EX-31.1) — 17KB
• a2024q3ex312.htm (EX-31.2) — 17KB
• a2024q3ex321.htm (EX-32.1) — 9KB
• itgr-20240927_g1.jpg (GRAPHIC) — 76KB
• 0001114483-24-000127.txt ( ) — 10789KB
• itgr-20240927.xsd (EX-101.SCH) — 61KB
• itgr-20240927_cal.xml (EX-101.CAL) — 106KB
• itgr-20240927_def.xml (EX-101.DEF) — 357KB
• itgr-20240927_lab.xml (EX-101.LAB) — 855KB
• itgr-20240927_pre.xml (EX-101.PRE) — 629KB
• itgr-20240927_htm.xml (XML) — 1962KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

ITEM 1. Financial Statements 3 Condensed Consolidated Balance Sheets (Unaudited) 3 Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) 4 Condensed Consolidated Statements of Cash Flows (Unaudited) 5 Condensed Consolidated Statements of Stockholders' Equity (Unaudited) 6 Notes to Condensed Consolidated Financial Statements (Unaudited) 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 44

Controls and Procedures

ITEM 4. Controls and Procedures 44

—OTHER INFORMATION

PART II—OTHER INFORMATION

Legal Proceedings

ITEM 1. Legal Proceedings 45

Risk Factors

ITEM 1A. Risk Factors 45

Other Information

ITEM 5. Other Information 45

Exhibits

ITEM 6. Exhibits 45

SIGNATURES

SIGNATURES 46 - 2 - Table of Contents

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS INTEGER HOLDINGS CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in thousands except share and per share data) September 27, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 35,574 $ 23,674 Accounts receivable, net of provision for credit losses of $ 0.2 million and $ 0.4 million, respectively 241,708 231,283 Inventories 265,415 229,102 Refundable income taxes 8,216 1,998 Contract assets 99,287 85,871 Prepaid expenses and other current assets 24,956 28,035 Current assets of discontinued operations held for sale 54,876 17,705 Total current assets 730,032 617,668 Property, plant and equipment, net 472,315 392,569 Goodwill 1,033,078 994,007 Other intangible assets, net 805,174 779,598 Deferred income taxes 6,782 7,001 Operating lease assets 78,624 81,319 Financing lease assets 17,205 11,675 Other long-term assets 24,439 22,407 Noncurrent assets of discontinued operations held for sale — 36,409 Total assets $ 3,167,649 $ 2,942,653 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Current portion of long-term debt $ 5,000 $ — Accounts payable 116,837 118,258 Income taxes payable 571 3,896 Operating lease liabilities 8,883 8,564 Accrued expenses and other current liabilities 86,138 86,748 Current liabilities of discontinued operations held for sale 4,969 3,503 Total current liabilities 222,398 220,969 Long-term debt 1,074,339 959,925 Deferred income taxes 143,236 143,552 Operating lease liabilities 69,115 72,126 Financing lease liabilities 13,996 10,272 Other long-term liabilities 23,379 14,303 Noncurrent liabilities of discontinued operations held for sale — 2,464 Total liabilities 1,546,463 1,423,611 Stockholders' equity: Common stock, $ 0.001 par value; 100,000,000 shares authorized; 33,541,480 and 33,329,648 shares issued, respectively; 33,541,478 and 33,329,648 shares outstanding, respectively 34 33 Additional paid-in capital 736,125 727,435

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View this 10-Q filing on SEC EDGAR