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Integra LifeSciences(IART) - 2025 Q1 - Earnings Call Presentation

Financial Performance - Total revenue was $382.7 million[37], with a reported growth of 3.7%[7, 40] but an organic growth decline of -3.5%[7, 11, 40] - Adjusted Gross Margin was 62.2%[7, 11, 42], a decrease of (220bps) compared to Q1 2024[7, 11, 40] - Adjusted EPS was $0.41[7, 11, 42], down ($0.14) or (25.5%) compared to Q1 2024[7, 11, 42] - The company is reaffirming full year revenue guidance of $1.650B-$1.715B[7, 38, 40], with reported growth between +2.4% and +6.5%[7, 38] and organic growth between +0.4% and +4.4%[7, 38] - Adjusted EPS guidance is updated to $2.19 - $2.29[7, 31, 38] to account for an estimated $(0.22) impact from recently announced tariffs[9] Segment Performance - Codman Specialty Surgical (CSS) experienced a -1.1% organic growth[7, 40], with US at 3.9% and International at -8.3%[7, 40] - Tissue Technologies (TT) saw a -9.1% decline[7, 40] in organic growth - Neurosurgery declined by -4.7%[13] due to shipping holds, while Instruments grew 15.1%[13, 16] organically - ENT grew 0.4%[13], reflecting only MicroFrance ENT instruments Balance Sheet and Cash Flow - Operating Cash Flow was $(11.3M)[11], with a Free Cash Flow (FCF) conversion of -127.0%[11] - Net Debt was $1,574.4 million as of March 31, 2025[49] compared to $1,535.0 million as of December 31, 2024[49]