Establishment Labs Holdings Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending September 30, 2025. The company generated revenue of $53.8 million for the third quarter, marking a 33.8% increase from $40.2 million in the same period last year. For the nine months ended September 30, 2025, total revenue reached $146.5 million, up 20.6% from $121.5 million in the prior year. Despite this growth, the company recorded a net loss of $11.1 million for the quarter, an improvement from a loss of $16.7 million in Q3 2024. The accumulated deficit as of September 30, 2025, stood at $493.1 million.
The company’s operational metrics indicate a positive trend, particularly in North America, where sales surged following FDA approval for its Motiva Implants in September 2024. The U.S. market accounted for approximately $28.3 million in sales during the nine months ended September 30, 2025. Establishment Labs also reported a gross margin of 70.1% for Q3 2025, up from 63.9% in the previous year, attributed to higher selling prices in the U.S. market. However, the company faced challenges in the Asia-Pacific region, where revenue decreased by 22.5% compared to the same period last year.
In terms of strategic developments, Establishment Labs has made notable advancements, including the launch of its new product, Preservé, in February 2025, and the completion of a new manufacturing facility in Costa Rica, which is expected to enhance production capacity significantly. The company also appointed Peter Caldini as CEO in May 2025, following the retirement of former CEO Juan José Chacón-Quirós. The acquisition of Motiva Benelux BV and Motiva NL B.V. in October 2024 is expected to bolster the company’s market presence in Europe.
The company’s financial position reflects a cash balance of $70.6 million as of September 30, 2025, down from $90.3 million at the end of 2024. Establishment Labs has also entered into an Inventory Funding Agreement to finance purchases of silicone raw materials, allowing for up to $10 million in funding. The company’s total liabilities increased to $322.5 million, primarily due to the outstanding balance of $246.4 million under its credit agreement. Looking ahead, Establishment Labs anticipates continued revenue growth driven by the adoption of its Motiva Implants and expansion into new markets, while remaining cautious of macroeconomic conditions that could impact consumer spending in the medical device sector.
About ESTABLISHMENT LABS HOLDINGS INC.
Establishment Labs Holdings Inc. is a medical technology company specializing in silicone breast implants and related products for augmentation and reconstruction. Its flagship Motiva Implants feature proprietary safety, aesthetic, and biocompatibility technologies, serving global markets through direct sales and distributors. The company emphasizes innovation, product safety, and minimally invasive procedures, aiming to lead in aesthetic implant technology with a focus on patient outcomes and safety.
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