ESTABLISHMENT LABS HOLDINGS INC. (ESTA)
Establishment Labs Holdings Inc. operates as a medical technology enterprise specializing in the creation and commercialization of devices for aesthetic and reconstructive plastic surgery. The company is primarily recognized for its silicone gel-filled breast implants, sold under the Motiva Implants brand. Among these are the Motiva Ergonomix and Motiva Ergonomix2, which are distinctive, gravity-sensitive, round, soft silicone-gel-filled implants. Furthermore, Establishment Labs provides the Motiva Flora Tissue Expander for breast tissue and distributes the Puregraft range of products, utilized for the harvesting and redistribution of autologous adipose tissue. The firm markets its offerings across Europe, Latin America, the Asia-Pacific region, and other global markets, leveraging both a direct sales force and exclusive distributors. Founded in 2004, Establishment Labs has its main office situated in Alajuela, Costa Rica.
Sector: Orthopedic, Prosthetic & Surgical Appliances & Supplies
Industry: Medical - Devices
Establishment Labs Holdings Inc.
NASDAQ:ESTAHealthcare · Medical - Devices
-8.70%$62.46
AH$62.11-0.56%vs close
Mkt Cap$1.86B
Float24.1M
O/S29.8M
Vol
$ Vol
RVOL
Inst Own93.9%
SI16.7%
Earnings
Dilution
Financials Summary
Revenue$211.08M
Net Income-$51.06M
Total Assets$357.17M
Free Cash Flow-$57.61M
Debt & Equity
Debt 92%
Equity 8%
Total Debt$264.47M
Total Equity$23.55M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in ESTA's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$357.17M
Liabilities$333.62M
Accounts Receivable$77.5M
Accounts Payable$43.11M
Inventory$85.61M
PP&E (Net)$79.95M
Goodwill$1.21M
Intangible Assets$9.94M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
| Revenue | $211.08M | $166.03M | $165.15M | $161.7M | $126.68M | $84.68M | $89.56M | $61.21M | $34.68M | $19.8M |
| YoY Growth | 27.1% | 0.5% | 2.1% | 27.6% | 49.6% | -5.5% | 46.3% | 76.5% | 75.1% | - |
| Cost of Revenue | $64.77M | $56.5M | $58.17M | $55.1M | $41.28M | $32.17M | $34.7M | $25.09M | $16.98M | $9.71M |
| Gross Profit | $146.31M | $109.53M | $106.98M | $106.59M | $85.4M | $52.5M | $54.86M | $36.12M | $17.7M | $10.1M |
| Gross Margin | 69.3% | 66.0% | 64.8% | 65.9% | 67.4% | 62.0% | 61.3% | 59.0% | 51.0% | 51.0% |
| Research and Development | $20.25M | $19.71M | $26.43M | $20.27M | $18.32M | $13.79M | $14.99M | $12.69M | $6.86M | $2.74M |
| Selling, General, and Administrative | $165.07M | $139.81M | $145.57M | $125.98M | $92.23M | $66.63M | $70.81M | $47.3M | $30.82M | $23.19M |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $185.32M | $159.51M | $172M | $146.25M | $110.54M | $80.42M | $85.8M | $59.98M | $37.69M | $25.93M |
| Operating Income (EBIT) | -$39.01M | -$49.99M | -$65.03M | -$39.66M | -$25.14M | -$27.92M | -$30.94M | -$23.86M | -$19.98M | -$15.83M |
| Operating Margin | -18.5% | -30.1% | -39.4% | -24.5% | -19.8% | -33.0% | -34.5% | -39.0% | -57.6% | -80.0% |
| Interest Expense | $25.26M | $20.83M | $15.39M | $11.76M | $9.06M | $9.37M | $8.7M | $8.81M | $10.42M | $3.41M |
| Interest Income | $423K | $1.48M | $1.02M | $87K | $23K | $15K | $4K | $16K | $19K | $44K |
| Other Income (Expense) | -$19.01M | -$34.64M | -$13.56M | -$33.17M | -$14.57M | -$10.1M | -$6.57M | $2.98M | -$14.81M | -$6.19M |
| Income Before Tax (EBT) | -$58.02M | -$84.63M | -$78.58M | -$72.82M | -$39.71M | -$38.02M | -$37.51M | -$20.88M | -$34.79M | -$22.02M |
| Income Tax Expense | -$6.96M | -$32K | -$81K | $2.38M | $1.43M | $104K | $640K | $215K | $105K | $134K |
| Net Income | -$51.06M | -$84.6M | -$78.5M | -$75.21M | -$41.14M | -$38.12M | -$38.15M | -$21.1M | -$34.9M | -$22.16M |
| Net Income Margin | -24.2% | -51.0% | -47.5% | -46.5% | -32.5% | -45.0% | -42.6% | -34.5% | -100.6% | -111.9% |
| Supplementary Data | ||||||||||
| EPS | -1.72 | -3.00 | -3.07 | -3.08 | -1.72 | -1.63 | -1.86 | -1.22 | -2.33 | -1.20 |
| Diluted EPS | -1.72 | -3.00 | -3.07 | -3.08 | -1.72 | -1.63 | -1.86 | -1.22 | -1.89 | -1.20 |
| Weighted Average OS | 29.62M | 28.16M | 25.60M | 24.46M | 23.97M | 23.32M | 20.54M | 17.35M | 14.98M | 18.49M |
| EBITDA | -$22.29M | -$56.22M | -$58.31M | -$56.73M | -$26.53M | -$24.93M | -$25.53M | -$9.26M | -$22.43M | -$18.02M |
| EBITDA Margin | -10.6% | -33.9% | -35.3% | -35.1% | -20.9% | -29.4% | -28.5% | -15.1% | -64.7% | -91.0% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
| Assets | ||||||||||
| Current Assets | ||||||||||
| Cash and Cash Equivalents | $75.57M | $90.35M | $40.03M | $66.36M | $53.41M | $84.52M | $37.66M | $52.64M | $10.86M | $479K |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $75.57M | $90.35M | $40.03M | $66.36M | $53.41M | $84.52M | $37.66M | $52.64M | $10.86M | $479K |
| Accounts Receivable | $77.5M | $65M | $46.92M | $35.42M | $24.44M | $19.13M | $22.77M | $17.65M | $13.11M | $6.65M |
| Inventory | $85.61M | $78.77M | $79.47M | $36.58M | $28.41M | $23.21M | $28.66M | $24.84M | $13.17M | $4.8M |
| Other Current Assets | $2.48M | $2.61M | $2.42M | $1.57M | $1.77M | $2.09M | $1.27M | $4.3M | $0 | $0 |
| Total Current Assets | $249.94M | $243.04M | $174.9M | $149.9M | $113.27M | $132.3M | $95.84M | $99.44M | $39.38M | $12.52M |
| Long-Term Assets | ||||||||||
| Property, Plant & Equipment Net | $79.95M | $83.59M | $80.59M | $54.79M | $20.86M | $18.81M | $16.42M | $12.91M | $13.5M | $13.23M |
| Goodwill | $1.21M | $1.21M | $465K | $465K | $465K | $465K | $465K | $465K | $465K | $255K |
| Intangible Assets | $9.94M | $11.68M | $7.99M | $4.61M | $4.37M | $4.15M | $3.44M | $3.44M | $3.4M | $2.1M |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $75K | $171K |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$75K | -$171K |
| Other Long-Term Assets | $16.12M | $7.31M | $4.7M | $1.29M | $558K | $664K | $368K | $315K | $347K | $1.46M |
| Total Long-Term Assets | $107.23M | $103.79M | $93.74M | $61.16M | $26.26M | $24.09M | $20.69M | $17.14M | $17.71M | $17.04M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $357.17M | $346.83M | $268.64M | $211.06M | $139.53M | $156.39M | $116.53M | $116.57M | $57.09M | $29.56M |
| Liabilities | ||||||||||
| Current Liabilities | ||||||||||
| Accounts Payable | $43.11M | $44.76M | $41.62M | $20.03M | $14.47M | $9.72M | $10.37M | $6.24M | $9.13M | $7.28M |
| Short-Term Debt | $12.41M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $24.09M | $39.8M |
| Current Income Tax Payable | $0 | $153K | $109K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $1.21M | $1.75M | $1.84M | $1.69M | $769K | $1.21M | $785K | $908K | $2.33M | $1.2M |
| Other Current Liabilities | $8.76M | $8.1M | $4.57M | $9.88M | $9.08M | $8.63M | $7.53M | $4.12M | $21.89M | $6.29M |
| Total Current Liabilities | $82.14M | $68.28M | $57.15M | $38.96M | $31.89M | $25.9M | $23.24M | $16.45M | $57.44M | $54.57M |
| Long-Term Liabilities | ||||||||||
| Long-Term Debt | $247.52M | $219.58M | $188.74M | $175.46M | $51.91M | $49.83M | $48.14M | $22.32M | $0 | $0 |
| Long-Term Unearned Revenue | $1.14M | $1.12M | $1.5M | $1.67M | $2.39M | $1.86M | $1.34M | $1.19M | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3.58M | $0 | $0 |
| Other Long-Term Liabilities | $0 | $554K | $147K | -$44K | $703K | $1.91M | $4.19M | $7.13M | $4.07M | $1.43M |
| Total Long-Term Liabilities | $251.48M | $225.46M | $193.1M | $180.29M | $56.9M | $55.53M | $53.67M | $30.64M | $4.67M | $1.43M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $333.62M | $293.74M | $250.25M | $219.25M | $88.79M | $81.43M | $76.92M | $47.09M | $62.11M | $56M |
| Stockholders' Equity | ||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $433.38M | $420.36M | $315.63M | $223.64M | $219.74M | $213.47M | $147.69M | $145.71M | $41.27M | $7.12M |
| Retained Earnings | -$495.76M | -$444.69M | -$360.1M | -$281.59M | -$206.38M | -$165.25M | -$127.13M | -$88.97M | -$67.88M | -$32.98M |
| Comprehensive Income & Other | $1.16M | $3.29M | $1.96M | $2.71M | $3.66M | $2.87M | $691K | $449K | $76K | $0 |
| Other Stockholders' Equity | $85.92M | $77.42M | $62.86M | $49.77M | $37.39M | $26.74M | $19.05M | $12.75M | $21.6M | -$573K |
| Total Equity | $23.55M | $53.09M | $18.39M | -$8.19M | $50.74M | $74.96M | $39.61M | $69.48M | -$5.01M | -$26.43M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $357.17M | $346.83M | $268.64M | $211.06M | $139.53M | $156.39M | $116.53M | $116.57M | $57.09M | $29.56M |
| Supplementary Data | ||||||||||
| Total Debt | $264.47M | $225.29M | $192.22M | $179.35M | $54.21M | $52.54M | $48.4M | $22.32M | $24.09M | $38.15M |
| Net Debt | $188.9M | $134.95M | $152.19M | $112.99M | $793K | -$31.98M | $10.74M | -$30.32M | $13.22M | $37.67M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
| Operating Activities | ||||||||||
| Net Income | -$51.06M | -$84.6M | -$78.5M | -$75.21M | -$41.14M | -$38.12M | -$38.15M | -$21.1M | -$34.9M | -$22.16M |
| Depreciation & Amortization | $10.47M | $7.58M | $4.88M | $4.34M | $4.12M | $3.71M | $3.29M | $2.81M | $1.94M | $592K |
| Deferred Income Tax | $6.96M | -$2.18M | -$3.71M | $86K | $7K | $2.48M | $0 | -$13.94M | $4.96M | $2.9M |
| Stock-Based Compensation | -$11.41M | $15.37M | $14.86M | $13.36M | $10.41M | $5.72M | $6.53M | $7.32M | $3.3M | $3.13M |
| Changes in Working Capital: | ||||||||||
| Accounts Receivable | -$11.47M | -$26.28M | -$11.56M | -$12.33M | -$6.7M | $3.81M | -$5.51M | -$4.67M | -$6.91M | -$4.72M |
| Inventory | -$7.06M | -$471K | -$42.23M | -$10.9M | -$7.64M | $4.79M | -$3.37M | -$6.98M | -$6.44M | -$1.36M |
| Accounts Payable | -$2.3M | $6.67M | $18.96M | $4.38M | $4.96M | -$910K | $1.83M | -$3.9M | -$878K | $3.94M |
| Other Working Capital | $7.65M | $4.58M | $701K | -$2.69M | $2.94M | $4.63M | $2.45M | $1.54M | -$99K | $303K |
| Total Working Capital Change | -$13.17M | -$15.5M | -$34.13M | -$21.54M | -$6.44M | $12.31M | -$4.6M | -$14.02M | -$14.32M | -$1.84M |
| Other Non-Cash Items | $7.33M | $20.81M | $8.08M | $26.8M | $5.51M | $1.39M | $2.95M | $5.04M | $7.05M | $3.12M |
| Net Cash from Operating | -$50.89M | -$58.52M | -$88.51M | -$52.17M | -$27.53M | -$12.51M | -$29.98M | -$33.88M | -$31.97M | -$14.27M |
| Investing Activities | ||||||||||
| Capital Expenditures | -$6.05M | -$6.11M | -$7.91M | -$34.27M | -$6.73M | -$3.91M | -$6.29M | -$1.77M | -$941K | -$10.55M |
| Acquisitions | -$307K | -$50K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$147K |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$55K |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $96K | $0 |
| Other Investing Activities | -$672K | -$9.45M | -$16.64M | -$525K | -$434K | -$1.65M | -$1.48M | -$3.96M | $96K | -$55K |
| Net Cash from Investing | -$7.03M | -$15.61M | -$24.55M | -$34.79M | -$7.16M | -$5.56M | -$7.77M | -$5.73M | -$845K | -$10.76M |
| Financing Activities | ||||||||||
| Debt Repaid | -$24.5M | -$24.47M | - | -$96.39M | $175K | $277K | $242K | $5.39M | $291K | $103K |
| Common Stock Issuance | $7.59M | $99.48M | $84.54M | $3.87M | $4.58M | $63.85M | $0 | $87.63M | $27.84M | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$4.51M | -$2M |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$637K | $1.94M | $1.69M | -$4K | -$356K | $1.09M | -$1.72M | $81.84M | $24.53M | $7.92M |
| Net Cash from Financing | $40.43M | $125.89M | $86.23M | $100.25M | $4.05M | $64.67M | $22.79M | $81.53M | $42.99M | $20.21M |
| Forex Effect | $2.71M | -$1.46M | $513K | -$358K | -$465K | $267K | -$24K | -$136K | $207K | $0 |
| Net Change in Cash | -$14.78M | $50.31M | -$26.32M | $12.94M | -$31.11M | $46.87M | -$14.98M | $41.77M | $10.38M | -$4.81M |
| Supplementary Data | ||||||||||
| Operating Cash Flow | -$50.89M | -$58.52M | -$88.51M | -$52.17M | -$27.53M | -$12.51M | -$29.98M | -$33.88M | -$31.97M | -$14.27M |
| Capital Expenditure | -$6.72M | -$15.56M | -$24.55M | -$34.27M | -$6.73M | -$3.91M | -$7M | -$1.77M | -$941K | -$10.55M |
| Free Cash Flow | -$57.61M | -$74.08M | -$113.06M | -$86.43M | -$34.26M | -$16.42M | -$36.98M | -$35.66M | -$32.91M | -$24.82M |
| Cash at Beginning | $90.35M | $40.03M | $66.36M | $53.41M | $84.52M | $37.66M | $52.64M | $10.86M | $479K | $5.29M |
| Cash at End | $75.57M | $90.35M | $40.03M | $66.36M | $53.41M | $84.52M | $37.66M | $52.64M | $10.86M | $479K |