Integra LifeSciences Holdings

Integra LifeSciences makes medical devices and regenerative tissue products for surgery and wound care. It sells them to hospitals, health networks, surgery centers, clinicians and group purchasing organizations, which are groups that negotiate prices for many hospitals. It reaches these customers through its own specialist sales force and through independent distributors. Its revenue comes from implants, disposable supplies, surgical instruments, capital equipment and after-market service. No single customer made up more than 10% of revenue in 2025.

Codman Specialty Surgical is the larger segment. It brought in $1.20 billion, or 73.4% of the $1.64 billion total for the fiscal year ended December 31, 2025. It sells neurosurgery products, such as the CUSA ultrasonic tissue aspirator, CereLink brain-pressure monitors and Mayfield head-stabilization systems. DuraGen and DuraSeal repair the dura, the membrane around the brain and spinal cord. The segment also sells surgical instruments and ear, nose and throat (ENT) tools. Integra calls itself the world leader in neurosurgery.

Tissue Technologies made up 26.6% of revenue. It sells wound and soft-tissue repair products, including Integra Skin for burns. They are made from cow and pig tissue, human amniotic tissue and dissolving synthetic mesh. It also makes collagen products that other device companies sell under their own names (private label). By region, the United States supplied 73.7% of revenue, Asia Pacific 11.6%, Europe 9.9% and the rest of the world 4.8%.

• In Q3 FY2026 (ended Sep 30, 2026), revenue was $411.2M, up 2.3% from a year earlier, and net income was $14.9M.
• For fiscal 2025, revenue was $1.64B (+1.5% year over year; +3.6% a year from FY2020 to FY2025) with a -31.6% net margin.

• Over FY2021–FY2025: $452.7M in buybacks and $0.00 in dividends.
• The company pays no regular dividend.
• Shares outstanding changed -8.1% from Oct 29, 2021 to Oct 22, 2026.

Rank among 1514 US companies

Market value at each year end

Integra LifeSciences Holdings’s market value went from $3.21B at the end of 2016 to $952.3M on Oct 28, 2026, down 70%; since the end of 2025 it is down 2%.

Form 4 filings from 2025-10-29 to 2026-10-29 (24 read): 1 open-market purchases ($102K) and 0 sales ($0.00).

Large shareholders (13G filings)

ETFs with the most weight in IART

1. Manufacturing quality and FDA inspections. FDA factory inspections can lead to Form 483 observations (inspectors' lists of problems), warning letters or injunctions. The annual report describes work to resume making and selling products pulled in earlier voluntary recalls.
2. Debt exceeds cash on hand. As of September 30, 2026, debt of $697.5 million exceeded cash and investments of $311.9 million. After a $516.5 million net loss in 2025, debt payments could limit spending on the business.
3. Supplier problems and factory moves. Integra relies on outside suppliers for raw materials, components and sterilization services. Merging plants and moving production between sites can cause delays, shortages and unexpected costs.
4. Reliance on animal-derived materials. Key tissue products use cow collagen and dermis or pig bladder tissue. The company warns that materials from animal sources may face additional regulation, which could add cost and complexity.
5. Dependence on private label partners. Tissue Technologies also makes collagen products and raw materials that other device companies sell under their own names. That business depends on key partner relationships, which Integra may be unable to keep.
6. Hospital budgets and reimbursement pressure. Tight hospital budgets can delay purchases of capital equipment such as CUSA surgical aspirators, neuro monitors and cranial stabilization systems. Cuts in government or insurer reimbursement could reduce prices or demand.

• Oct 21, 2026 Quarterly results released
• Oct 19, 2026 Major agreement signed; Major agreement ended; New debt or financial obligation; Investor presentation or announcement
• Oct 9, 2026 Investor presentation or announcement
• Oct 2, 2026 Quarterly results released; Investor presentation or announcement
• Sep 8, 2026 Investor presentation or announcement
• Jul 29, 2026 Quarterly results released
• May 8, 2026 Executive or board change; Shareholder vote results
• May 5, 2026 Executive or board change
• May 5, 2026 Quarterly results released
• Apr 15, 2026 Major agreement signed

Integra LifeSciences pays no dividend and paid none in 2021 through 2025, so the stock provides no regular income. Any return must come from a rising share price, and gains have been scarce: the price fell 82% over the five years to October 28, 2026. The company spent about $453 million on buybacks (repurchases of its own shares) in 2021 through 2025. The share count fell 8.1% between October 2021 and October 2026, but buybacks dropped to $221,000 in 2025. In the 2008 financial crisis, the stock fell 61% and took about 21 months from its March 2009 low to recover. It fell 39.9% in the 2020 COVID crash and recovered by December 2020. It dropped 39.6% in the 2022 bear market and had not regained its earlier high as of October 28, 2026. Single stocks carry more risk than diversified funds, which spread money across many companies.