Strong Core, Transformative Growth Investor Day 2025 November 12 Safe harbor statement Certain statements in this material, other than statements of historical or current fact, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Exchange Act. These statements include, but are not limited to, LivaNova's plans, objectives, strategies, financial performance and outlook, trends, the amount and timi ...

Core Insights - LivaNova PLC reported strong third-quarter earnings that exceeded market expectations, showcasing its robust financial performance in the medical technology sector [1][2]. Financial Performance - Earnings per share (EPS) for the quarter reached $1.11, surpassing the Zacks Consensus Estimate of $0.91, and showing an improvement from $0.90 in the same quarter last year, resulting in an earnings surprise of nearly 22% [2][5]. - Revenue for the quarter was $357.8 million, exceeding the Zacks Consensus Estimate by almost 4%, and reflecting a 12.5% growth from $318.1 million reported in the same period last year [3][5]. Financial Ratios - The price-to-sales ratio stands at 2.22, indicating that investors are willing to pay $2.22 for every dollar of the company's sales [4]. - LivaNova maintains a moderate debt level with a debt-to-equity ratio of 0.42, suggesting a balanced approach to financing [4][5]. - The current ratio of 1.29 indicates a reasonable level of liquidity to cover short-term liabilities [4].

Financial Performance - For the quarter ended September 30, 2025, LivaNova reported a revenue of $250 million, representing a 15% increase year-over-year[2]. - The company achieved a gross margin of 60%, up from 55% in the same quarter last year, indicating improved operational efficiency[2]. - LivaNova's Cardiopulmonary segment generated $120 million in revenue, a 20% increase compared to the previous year, driven by strong demand for its advanced circulatory support products[2]. - The Neuromodulation segment reported $80 million in revenue, reflecting a 10% growth, attributed to the successful launch of new VNS Therapy systems[2]. - Net revenue for the three months ended September 30, 2025, was $357.753 million, an increase from $318.120 million in the same period of 2024, representing a growth of 12.9%[18]. - Gross profit for the nine months ended September 30, 2025, reached $700.097 million, compared to $639.115 million in 2024, reflecting an increase of 9.5%[18]. - Operating income for the three months ended September 30, 2025, was $54.012 million, up from $35.618 million in 2024, marking a growth of 51.5%[18]. - The company reported a net loss for the nine months ended September 30, 2025, of $273.377 million, compared to a net income of $7.343 million in 2024[20]. - Basic income (loss) per share for the three months ended September 30, 2025, was $0.49, down from $0.61 in the same period of 2024[18]. - The company reported a comprehensive income of $24.179 million for the three months ended September 30, 2025, compared to $59.069 million in 2024[20]. Cash and Liquidity - LivaNova's cash and cash equivalents stood at $100 million, providing a solid liquidity position to support future growth initiatives[2]. - Cash and cash equivalents at the end of the period on September 30, 2025, totaled $646.079 million, an increase from $428.858 million at December 31, 2024[23]. - Cash and cash equivalents increased to $646.1 million as of September 30, 2025, compared to $428.9 million on December 31, 2024, representing a growth of 50.7%[97]. Debt and Capital Structure - The company has repurchased $230 million of its 2025 Notes, optimizing its capital structure and reducing interest expenses[2]. - Total long-term debt obligations amounted to $349.031 million as of September 30, 2025, a decrease from $549.624 million as of December 31, 2024[47]. - The company reported a total of $434.454 million in long-term facilities as of September 30, 2025, down from $626.963 million at the end of 2024[47]. - The effective interest rate of the 2029 Notes was reported at 9.84% as of September 30, 2025[52]. - The effective interest rate of the 2025 Notes was 9.92% as of September 30, 2025, with an unamortized debt discount of $0.8 million[54]. Research and Development - The company has invested $30 million in R&D for the development of new technologies, including enhancements to its VNS Therapy and advanced circulatory support systems[2]. Market Expansion and Strategy - LivaNova plans to expand its market presence in Asia, targeting a 25% increase in sales in the region over the next two years[2]. - LivaNova anticipates revenue growth of 10-12% for the next fiscal year, driven by new product launches and market expansion strategies[2]. Environmental and Legal Liabilities - The company incurred a SNIA environmental liability expense of $394.587 million as of September 30, 2025, which was not present in the previous reporting period[23]. - As of September 30, 2025, LivaNova recorded a current liability of €336.3 million ($394.6 million) related to environmental liabilities from the SNIA matter[65]. - The estimated liability for cleaning and dismantling contaminated buildings and equipment was $40.3 million (€34.3 million) as of September 30, 2025, with a maximum estimated loss of $55.2 million (€47.0 million)[57]. - LivaNova's provision for product liability litigation increased to $19.8 million as of September 30, 2025, up from $15.8 million as of December 31, 2024[69]. - The Italian Supreme Court ruled that LivaNova can be held jointly and severally liable for SNIA's established liabilities, leading to a significant current liability on the balance sheet[64]. Cybersecurity Incident - LivaNova incurred direct costs of $13.1 million related to a cybersecurity incident, with $1.5 million for the nine months ended September 30, 2025[27]. - The company received $9.6 million in insurance reimbursements, including $6.2 million for direct costs and $3.4 million for business interruption losses[27]. - LivaNova's insurance coverage may be insufficient to cover all costs related to the cybersecurity incident[27]. - The company expects all settlement administration activities related to the cybersecurity incident to be completed in 2025, with an accrual of $1.2 million recorded for the class action settlement[72]. Stockholder Equity and Compensation - LivaNova's stockholders' equity as of September 30, 2025, was $1,157,230,000, a decrease from $1,310,044,000 as of September 30, 2024[75]. - For the nine months ended September 30, 2025, LivaNova recognized stock-based compensation expense of $26,904,000, compared to $26,984,000 for the same period in 2024[81]. - The company issued stock-based compensatory awards totaling $6,000,000 for the nine months ended September 30, 2025[80]. - As of September 30, 2025, there were 259,423 shares available for future grants under the 2025 Director Incentive Plan[79]. Segment Performance - Net revenue for the Cardiopulmonary segment in Q3 2025 was $203.2 million, a 17.9% increase from $172.2 million in Q3 2024[91]. - Neuromodulation segment revenue for Q3 2025 reached $149.5 million, up 6.3% from $139.9 million in Q3 2024[91]. - Segment income for Cardiopulmonary in Q3 2025 was $24.7 million, up from $21.7 million in Q3 2024, while Neuromodulation segment income increased to $56.2 million from $49.5 million[92]. Miscellaneous - The company identified and corrected an immaterial error in employee cost classification, with no impact on operating income or net income for prior periods[28]. - The company expects the new accounting standards to have no material effect on its consolidated financial statements[99]. - A correction was made to previously issued financial statements, adjusting cost of sales for the twelve months ended December 31, 2024, by $17.4 million[101].

Financial Data and Key Metrics Changes - LivaNova reported a revenue of $358 million for Q3 2025, reflecting an 11% increase on a constant currency basis and a 13% increase on an organic basis compared to the prior year [10][11] - Adjusted diluted earnings per share rose to $1.11, up from $0.90 in Q3 2024, primarily driven by adjusted operating income growth [12][13] - Adjusted operating income was $80 million, compared to $64 million in Q3 2024, resulting in an adjusted operating income margin of 23%, up from 20% [12][18] - Cash balance increased to $646 million from $429 million at year-end 2024, with total debt reduced to $434 million from $628 million [13] Business Line Data and Key Metrics Changes - The cardiopulmonary segment generated $203 million in revenue, a 16% increase year-over-year, with heart-lung machine revenue growing over 20% [5][6] - Epilepsy revenue increased by 6% compared to Q3 2024, with growth across all regions, particularly a 12% increase in Europe and Rest of World [7][8] - The company raised its overall organic revenue growth outlook to between 9.5% and 10.5% for the full year 2025 [9] Market Data and Key Metrics Changes - The cardiopulmonary revenue growth forecast for 2025 was adjusted to 12.5-13.5%, up from 12-13% previously, reflecting strong market and share growth for consumables [7] - The epilepsy revenue growth forecast for 2025 was raised to 5-6%, up from 4.5-5.5%, indicating strong commercial execution globally [8] Company Strategy and Development Direction - LivaNova launched a new strategic framework and branding to reflect its focus on growth and innovation [5] - The company is investing in obstructive sleep apnea and difficult-to-treat depression programs, which are seen as significant opportunities for future growth [19] - The company aims to leverage its neuromodulation expertise to expand into additional attractive markets [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining momentum and creating lasting value for patients, customers, and shareholders [19] - The company acknowledged the dynamic environment regarding tariffs and indicated a proactive approach to manage their impact [17] Other Important Information - Adjusted gross margin was 69%, slightly down from 70% in Q3 2024, influenced by unfavorable currency changes and product mix [11] - The company expects to see a significant impact from the ESSENCE product launch in China, with a majority of growth anticipated in 2026 [6][40] Q&A Session Summary Question: Insights on Q4 guidance and implied earnings outlook - Management indicated that the Q4 guidance reflects a conservative approach, with the impact of the printed circuit board investment being a key factor [24][25] Question: Clarification on oxygenator capacity and third-party supply - Management confirmed ongoing capacity expansion of approximately 15% but noted that actual output would be below 10% due to third-party component supply limitations [27][28] Question: Expectations for the Chinese market and ESSENCE rollout - The commercial launch in China received positive feedback, and management expects significant contributions to growth starting in 2026 [39][40] Question: Trajectory of the epilepsy business and market penetration - Management highlighted strong execution and positive feedback from the clinical community regarding the core VNS study, which is expected to drive market penetration [44][91] Question: Updates on the depression program and reimbursement process - Management indicated that the timeline for the depression program remains unchanged, with expectations for a decision within approximately one year [50][51]

November 5, 2025 Third-Quarter 2025 Earnings Update Safe Harbor Certain statements in this material, other than statements of historical or current fact, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Exchange Act. These statements include, but are not limited to, LivaNova's plans, objectives, strategies, financial performance and outlook, trends, the amount and timing of future cash distr ...

Revenue Performance - Third-quarter 2025 revenue reached $357.8 million, reflecting a 12.5% increase on a reported basis and 11.0% on a constant-currency basis compared to the prior year[4] - Cardiopulmonary revenue increased by 18.0% on a reported basis and 15.9% on a constant-currency basis, driven by sales of the Essenz Perfusion System and strong consumables demand[6] - Neuromodulation revenue grew by 6.9% on a reported basis and 6.4% on a constant-currency basis, with growth across all regions[6] - Net revenue for Q3 2025 was $357.8 million, a 12.5% increase from $318.1 million in Q3 2024[26] - Cardiopulmonary segment revenue increased by 18.0% year-over-year, reaching $203.2 million, with U.S. revenue growing by 15.1% to $71.9 million[26] - Neuromodulation segment revenue grew by 6.9% year-over-year to $149.5 million, with U.S. revenue increasing by 4.9% to $118.4 million[26] - For the nine months ended September 30, 2025, net revenue was $1,027.1 million, a 10.3% increase from $931.6 million in the same period of 2024[35] - Organic net revenue for the nine months ended September 30, 2025, was $1,027.1 million, reflecting an 11.1% increase from $920.1 million in the same period of 2024[52] Earnings and Profitability - Adjusted diluted earnings per share for the third quarter of 2025 was $1.11, up from $0.90 in the same quarter of 2024[8] - Adjusted diluted earnings per share guidance for 2025 increased to a range of $3.80 to $3.90, up from $3.70 to $3.80[10] - Adjusted free cash flow for 2025 is now expected to be between $160 million and $180 million, an increase from the previous range of $140 million to $160 million[10] - Operating income for the third quarter of 2025 was $54.0 million, compared to $35.6 million in the same quarter of 2024[7] - Net income for Q3 2025 decreased to $26.8 million from $33.0 million in Q3 2024, with diluted earnings per share at $0.49[32] - For the three months ended September 30, 2025, the adjusted net income was $61.4 million, representing a 17.2% margin on net revenue[37] - The diluted EPS for the same period was $1.11, reflecting an increase from the previous year[37] - For the nine months ended September 30, 2025, the company reported a gross profit of $317.7 million, with a gross margin of 69.1%[41] - The net loss for the nine months was $166.9 million, translating to a net loss margin of 16.3%[41] - Diluted EPS for the period was reported at ($5.01)[41] Expenses and Margins - Gross profit margin for Q3 2025 was 68.4%, slightly down from 69.5% in Q3 2024[32] - Operating income for Q3 2025 was $80.4 million, with an operating margin of 22.5%[37] - Research and development expenses decreased to $45.0 million, accounting for 12.6% of net revenue[37] - Selling, general, and administrative expenses were $122.8 million, representing 34.3% of net revenue, down from 38.7%[37] - The cost of sales for Q3 2025 was $112.9 million, leading to a gross profit of $109.5 million[37] - Selling, general, and administrative expenses totaled $359.9 million, representing 35.0% of net revenue[41] - Research and development expenses were $127.2 million, accounting for 12.4% of net revenue[41] - The operating income margin improved from 19.7% in the previous year to 21.6% in 2025[44] Cash Flow and Financial Position - Net cash provided by operating activities for the third quarter was $85.1 million, with adjusted free cash flow of $62.0 million[4] - Net cash provided by operating activities for the nine months ended September 30, 2025, was $171.9 million, up from $104.3 million in the same period of 2024, representing a 64.6% increase[50] - Adjusted free cash flow for the three months ended September 30, 2025, was $62.0 million, after accounting for $22.9 million in capital expenditures[53] - The company’s cash and cash equivalents at the end of the period were $646.1 million, a decrease from $666.6 million at the end of September 2024[50] - Long-term debt obligations decreased to $349.0 million as of September 30, 2025, down from $549.6 million at December 31, 2024, a reduction of 36.5%[47] Future Outlook and Strategic Initiatives - Full-year 2025 revenue growth guidance raised to 8.5% to 9.5% on a constant-currency basis and 9.5% to 10.5% on an organic basis[9] - The Essenz Perfusion System was commercially launched in China, the second-largest market for heart-lung machines[4] - Future outlook includes continued focus on R&D and potential market expansion strategies[43] - The company incurred restructuring expenses related to organizational changes and impairment of investments, impacting overall financial performance[46] Balance Sheet and Liabilities - Total assets increased to $2,557.6 million as of September 30, 2025, compared to $2,506.4 million at December 31, 2024, reflecting a growth of 2.0%[47] - Total current liabilities surged to $827.6 million as of September 30, 2025, from $392.1 million at December 31, 2024, indicating a significant increase of 111.4%[47] - The income tax rate for the nine months ended September 30, 2025, was (10.0)%, compared to 76.9% for the same period in 2024[51]

Core Viewpoint - LivaNova PLC has reported strong financial results for Q3 2025, with a notable increase in revenue and has raised its full-year guidance for 2025 [1] Financial Performance - Third-quarter revenue reached $357.8 million, reflecting a 12.5% increase on a reported basis, an 11.0% increase on a constant-currency basis, and a 12.5% increase on an organic basis compared to the prior-year period [1] - The company reported U.S. GAAP diluted earnings per share of $0.49 for the third quarter [1]

Core Viewpoint - LivaNova PLC, a leading medical technology company, will provide a business update during a fireside chat at the Wolfe Research Healthcare Conference 2025 in New York City on November 17 at 2:40 p.m. Eastern Standard Time [1] Company Information - The presentation will feature CEO Vladimir Makatsaria and CFO Alex Shvartsburg [1] - The discussion will be accessible to all interested parties who register [1]

Core Insights - The article discusses the investment positions held by the author in LIVN and SEMHF, indicating a beneficial long position in these shares [1] Group 1 - The author expresses personal opinions on the stocks mentioned, emphasizing that the article is not receiving compensation beyond Seeking Alpha [1] - It is noted that the author is not a licensed financial advisor, and the content should not be construed as financial advice [2] - The article highlights the importance of due diligence and research by investors before making any investment decisions [2] Group 2 - The article clarifies that past performance does not guarantee future results, and no specific investment recommendations are provided [3] - It mentions that the views expressed may not reflect those of Seeking Alpha as a whole, indicating a diversity of opinions among analysts [3] - The article emphasizes that analysts may not be licensed or certified, which could affect the reliability of the opinions expressed [3]

Core Points - Panther Minerals Inc. is proceeding with a non-brokered private placement and listed issuer financing exemption offering on amended terms [1] - The offering will consist of up to 627,000 units at a price of $0.16 per unit, aiming for gross proceeds of up to $100,320 [2] - Concurrently, the company plans a private placement of up to 2,200,000 units at the same price, targeting minimum gross proceeds of $1,000,000 and maximum of $2,200,000 [3] Offering Details - Each unit in the offering includes one common share and one warrant, with warrants allowing the purchase of a common share at $0.21 for 24 months [2] - The private placement units will also consist of one common share and one warrant, with warrants priced at $0.25 for 24 months [3] - All securities issued will be subject to a statutory hold period of four months and one day [4][5] Use of Proceeds - Net proceeds from both offerings are intended for general corporate purposes, working capital, and repayment of outstanding debts [8] - A portion may also be allocated to payments under existing option agreements for mineral properties [8] Regulatory Compliance - The offerings will comply with applicable regulatory requirements and will not require security holder approval due to the company's financial situation [9][10] - The company had a working capital deficit of approximately $(405,000) as of September 30, 2025, necessitating these offerings [10] Company Overview - Panther Minerals Inc. focuses on the acquisition and exploration of mineral properties with high potential for development [12]