NASDAQ$ESTA
Establishment Labs Holdings Inc · Q4 2025 earnings
Q4 2025 earnings · · Before market open · Investor relations
Briefing
Establishment Labs reported Q4 2025 revenue of $64.6M and positive adjusted EBITDA of $5.5M.
Q4 2025 revenue was $64.6 million (+45.2% YoY). Net loss from operations narrowed to $3.9 million from $18.7 million; adjusted EBITDA was positive $5.5 million versus a $13.1 million loss a year ago. Motiva U.S. revenue was $17.3 million in the quarter. 2026 revenue guidance $264M–$266M (+25%–26%); 2027 growth expected at least 25%.
- Q4 revenue $64.6M (+45%); adj. EBITDA +$5.5M.
- Gross margin 70.5%; cash $75.6M (+$4.9M QoQ).
- FY 2025 revenue $211.1M (+27%).
- 2026 guide $264M–$266M revenue.
Headline financials
Revenue & EPS history
Establishment Labs · Revenue · Quarterly
$64.6M
Forward guidance
Management guides 2026 revenue of $264M–$266M and expects first positive cash flow quarter in 2026 with full-year positive cash flow in 2027 as Preservé and Motiva scale.
Tailwinds
- Second half 2025 positive adjusted EBITDA.
- Preservé and minimally invasive platform gaining share.
- Operating leverage improving on SG&A stability.
Headwinds
- Still GAAP operating loss in Q4.
- Interest expense $7.2M in quarter.
- Medical device regulatory and R&D spend ongoing.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2025
+1.5%
Avg return
Earnings day
+0.7%
Avg return
5 days after
+2.4%
Avg return
30 days after
56%
18 / 32 earnings
Positive
+22.5%
Q3 2025
Best reaction
-26.0%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.4% | -4.3% | +2.9% | |
| Q4 2025 | -1.9% | +5.0% | -20.1% | |
| Q3 2025 | +22.5% | +37.0% | +43.2% | |
| Q1 2025 | +4.9% | +5.1% | +14.2% | |
| Q4 2024 | +17.9% | +28.1% | +12.1% | |
| Q3 2024 | -5.2% | -13.2% | -10.0% | |
| Q2 2024 | +3.4% | +20.6% | +23.5% | |
| Q1 2024 | +5.4% | +4.2% | -10.8% | |
| Q4 2023 | +15.1% | +19.6% | +28.2% | |
| Q3 2023 | -26.0% | -36.1% | -31.7% | |
| Q2 2023 | -8.4% | -12.0% | -12.2% | |
| Q1 2023 | +1.8% | -1.6% | -1.9% | |
| Q4 2022 | +7.2% | +10.3% | +0.3% | |
| Q3 2022 | -7.7% | +11.1% | +27.1% | |
| Q2 2022 | -3.0% | +1.3% | -0.4% | |
| Q1 2022 | -10.5% | -10.1% | +2.3% | |
| Q4 2021 | +3.3% | +1.6% | +11.5% | |
| Q3 2021 | -10.6% | -14.3% | -15.2% | |
| Q2 2021 | +6.0% | -3.7% | -3.1% | |
| Q1 2021 | -0.6% | -1.8% | +8.9% | |
| Q4 2020 | +0.4% | -6.8% | +9.5% | |
| Q3 2020 | +8.9% | -0.4% | +22.6% | |
| Q2 2020 | +6.2% | +7.3% | +9.3% | |
| Q1 2020 | +2.9% | +0.5% | +15.3% | |
| Q4 2019 | +4.5% | -16.4% | +0.4% | |
| Q3 2019 | -0.3% | +0.5% | +7.8% | |
| Q2 2019 | -5.2% | -10.6% | -10.2% | |
| Q1 2019 | +1.5% | -0.3% | -15.9% | |
| Q4 2018 | -1.9% | -4.9% | -15.2% | |
| Q3 2017 | +10.3% | +4.5% | -6.2% | |
| Q3 2018 | +10.3% | +4.5% | -6.2% | |
| Q2 2018 | -2.7% | -2.9% | -3.4% | |
| Q4 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — |
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