ESTABLISHMENT LABS HOLDINGS INC. ESTA

Healthcare SIC 3842 - Orthopedic, Prosthetic & Surgical Appliances & Supplies NAICS Manufacturing › Miscellaneous Manufacturing › Medical Equipment and Supplies Manufacturing › Surgical Appliance and Supplies Manufacturing derived Nasdaq

We are a global medical technology company focused on improving patient safety and aesthetic outcomes, initially in the breast aesthetics and reconstruction market. We initially incorporated in Costa Rica in 2004 and subsequently reorganized in 2013 under a parent holding company in the British Virgin Islands.

Our line of silicone gel-filled breast implants, branded as Motiva Implants, is the centerpiece of our medical technology platform. Our 5-year results from our Motiva U.S. IDE study as well as our patient and practitioner reported post-market surveillance data indicate that Motiva Implants have low rates of adverse events (including rupture, capsular contracture, and implant-related reoperations) that compare favorably with those of our competitors. We believe these proprietary technologies that differentiate our Motiva Implants result in improved safety and aesthetic outcomes and thus drive our revenue growth.

Last close 63.80 2026-10-23
Market cap $1.90B 2026-06-30 share count
52-week range 47.00 - 97.59

Valuation FY2025 figures against the last close

P/S9.0x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-1.72

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $211.1M$166.0M$165.2M$161.7M$126.7M$84.7M$89.6M$61.2M$34.7M—
Cost of revenue $64.8M$56.5M$58.2M$55.1M$41.3M$32.2M$34.7M$25.1M$17.0M—
Gross profit $146.3M$109.5M$107.0M$106.6M$85.4M$52.5M$54.9M$36.1M$17.7M—
R&D $20.2M$19.7M$26.4M$20.3M$18.3M$13.8M$15.0M$12.7M$6.9M—
SG&A $165.1M$139.8M$145.6M$126.0M$92.2M$66.6M$70.8M$47.3M$30.8M—
Total operating expenses $185.3M$159.5M$172.0M$146.3M$110.5M$80.4M$85.8M$60.0M$37.7M—
Operating income -$39.0M-$50.0M-$65.0M-$39.7M-$25.1M-$27.9M-$30.9M-$23.9M-$20.0M—
Interest expense $25.3M$20.8M$15.4M$11.8M$9.1M$9.4M$8.7M$8.8M$10.4M—
Pre-tax income -$58.0M-$84.6M-$78.6M-$72.8M-$39.7M-$38.0M-$37.5M-$20.9M-$34.8M—
Income tax $7.0M$32.0K$81.0K$2.4M$1.4M$104.0K$640.0K$215.0K$105.0K—
Net income -$51.1M-$84.6M-$78.5M-$75.2M-$41.1M-$38.1M-$38.1M-$21.1M-$34.9M—
EPS, basic -1.72-3.00-3.07-3.08-1.72-1.63-1.86———
EPS, diluted -1.72-3.00-3.07-3.08-1.72-1.63-1.86-1.22-3.41—
Shares, diluted (wtd. avg.) 29.6M28.2M25.6M24.5M24.0M23.3M20.5M———

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $75.6M$90.3M$40.0M$66.4M$53.4M$84.5M$37.7M$52.6M$10.9M$479.0K
Receivables $77.5M$65.0M$46.9M$35.4M$24.4M$19.1M$22.8M$17.6M$13.1M—
Inventory $85.6M$78.8M$79.5M$36.6M$28.4M$23.2M$28.7M$24.8M$13.2M—
Total current assets $249.9M$243.0M$174.9M$149.9M$113.3M$132.3M$95.8M$99.4M$39.4M—
Property, plant and equipment $75.6M$78.0M$77.2M$51.1M$18.7M$16.2M$16.4M$12.9M$13.5M—
Goodwill $1.2M$1.2M$465.0K$465.0K$465.0K$465.0K$465.0K$465.0K$465.0K—
Other intangibles $9.9M$11.7M$8.0M$4.6M$4.4M$4.1M$3.4M$3.4M$3.4M—
Total assets $357.2M$346.8M$268.6M$211.1M$139.5M$156.4M$116.5M$116.6M$57.1M—
Accounts payable $43.1M$44.8M$41.6M$20.0M$14.5M$9.7M$10.4M$6.2M$9.1M—
Total current liabilities $82.1M$68.3M$57.1M$39.0M$31.9M$25.9M$23.2M$16.4M$57.4M—
Long-term debt $247.5M$219.6M$188.7M$175.5M——————
Total liabilities $333.6M$293.7M$250.2M$219.2M$88.8M$81.4M$76.9M$47.1M$62.1M—
Retained earnings -$495.8M-$444.7M-$360.1M-$281.6M-$206.4M-$165.2M-$127.1M-$89.0M-$67.9M—
Total equity $23.5M$53.1M$18.4M-$8.2M$50.7M$75.0M$39.6M$69.5M-$5.0M-$26.4M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow -$50.9M-$58.5M-$88.5M-$52.2M-$27.5M-$12.5M-$30.0M-$33.9M-$32.0M—
Depreciation and amortisation $6.2M$4.7M$2.8M$2.5M$2.5M—————
Stock-based compensation $11.4M$14.4M$14.4M$13.4M$10.4M—————
Capital expenditure $6.0M$6.1M$7.9M$2.9M$2.4M$2.1M$6.3M$1.7M$901.0K—
Investing cash flow -$7.0M-$15.6M-$24.5M-$34.8M-$7.2M-$5.6M-$7.8M-$5.7M-$845.0K—
Financing cash flow $40.4M$125.9M$86.2M$100.3M$4.1M$64.7M$22.8M$81.5M$43.0M—
Buybacks ———————$0$4.5M—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001688757-26-000028.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -100M 0 100M 200M 300M Revenue, FY2017: 34.7M Gross profit, FY2017: 17.7M Net income, FY2017: -34.9M Revenue, FY2018: 61.2M Gross profit, FY2018: 36.1M Net income, FY2018: -21.1M Revenue, FY2019: 89.6M Gross profit, FY2019: 54.9M Net income, FY2019: -38.1M Revenue, FY2020: 84.7M Gross profit, FY2020: 52.5M Net income, FY2020: -38.1M Revenue, FY2021: 126.7M Gross profit, FY2021: 85.4M Net income, FY2021: -41.1M Revenue, FY2022: 161.7M Gross profit, FY2022: 106.6M Net income, FY2022: -75.2M Revenue, FY2023: 165.2M Gross profit, FY2023: 107M Net income, FY2023: -78.5M Revenue, FY2024: 166M Gross profit, FY2024: 109.5M Net income, FY2024: -84.6M Revenue, FY2025: 211.1M Gross profit, FY2025: 146.3M Net income, FY2025: -51.1M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $34.7M $61.2M $89.6M $84.7M $126.7M $161.7M $165.2M $166.0M $211.1M
Gross profit — $17.7M $36.1M $54.9M $52.5M $85.4M $106.6M $107.0M $109.5M $146.3M
Net income — -$34.9M -$21.1M -$38.1M -$38.1M -$41.1M -$75.2M -$78.5M -$84.6M -$51.1M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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