Revenue: As of FY2026 Q1, the actual value is USD 59.88 B, beating the estimate of USD 57.43 M.

EPS: As of FY2026 Q1, the actual value is USD -0.45, missing the estimate of USD -0.3551.

EBIT: As of FY2026 Q1, the actual value is USD 551 M.

Segment Revenue

• Revenue from outside the United States (OUS) was $40.3 million for the three months ended March 31, 2026, compared to $35.3 million for the same period in 2025.
• Revenue from the United States (US) was $19.6 million for the three months ended March 31, 2026, compared to $6.1 million for the same period in 2025.
• The increase in total revenue was primarily driven by a $13.5 million increase in U.S. sales, and a $5.0 million increase in sales from the Asia-Pacific region and Latin America, while sales in EMEA remained relatively stable.

Operational Metrics

• Cost of Revenue: Increased by 28.7% to $17.5 million for the three months ended March 31, 2026, from $13.6 million for the same period in 2025.
• Gross Profit: Was $42.3 million for the three months ended March 31, 2026, compared to $27.8 million for the same period in 2025.
• Gross Margin: Increased to 70.7% for the three months ended March 31, 2026, from 67.2% for the same period in 2025, primarily due to higher selling prices in the U.S. market, partially offset by an increase in inventory obsolescence reserve.
• Sales, General and Administrative (SG&A) Expenses: Increased by 9.8% to $43.6 million for the three months ended March 31, 2026, from $39.7 million for the same period in 2025, mainly due to higher personnel and consulting costs and freight associated with increased sales, partially offset by lower bad debt expense and sales and marketing expenses.
• Research and Development (R&D) Expenses: Remained consistent at $5.2 million for the three months ended March 31, 2026, compared to $5.1 million for the same period in 2025.
• Total Operating Expenses: Were $48.8 million for the three months ended March 31, 2026, compared to $44.8 million for the same period in 2025.
• Loss from Operations: Improved to - $6.5 million for the three months ended March 31, 2026, from - $16.9 million for the same period in 2025.
• Interest Expense: Increased to - $7.1 million for the three months ended March 31, 2026, from - $5.9 million for the same period in 2025, due to an increase in debt principal.
• Other Income, Net: Decreased to $0.5 million for the three months ended March 31, 2026, from $2.8 million for the same period in 2025, primarily due to foreign currency fluctuations.
• Net Loss: Was - $13.4 million for the three months ended March 31, 2026, an improvement from - $20.7 million for the same period in 2025.
• Accumulated Deficit: Was - $509.1 million as of March 31, 2026.

Cash Flow

• Cash and Cash Equivalents: Were $68.1 million as of March 31, 2026, compared to $75.6 million as of December 31, 2025.
• Net Cash Used in Operating Activities: Was - $4.3 million for the three months ended March 31, 2026, compared to - $20.7 million for the same period in 2025. This was primarily due to a net loss of - $13.4 million, partially offset by $3.0 million in share-based compensation, $2.5 million in depreciation and amortization, $1.3 million in inventory obsolescence provision, $1.1 million in operating assets and liabilities changes, and $1.1 million in non-cash interest expense.
• Net Cash Used in Investing Activities: Was - $2.0 million for the three months ended March 31, 2026, mainly reflecting $1.9 million for property and equipment purchases, particularly for an enterprise resource planning system for the U.S. legal entity.
• Net Cash Used in Financing Activities: Was - $0.9 million for the three months ended March 31, 2026, primarily due to - $1.2 million in repayments on short-term notes and - $0.7 million for tax withholding, partially offset by $1.0 million from stock option exercises.

Future Outlook and Strategy

Establishment Labs Holdings Inc. expects to continue generating losses in the near term and will finance operations through equity and debt financings, and cash from operations. The company believes its available cash and cash from operations will be sufficient to meet liquidity requirements for at least the next 12 months. On April 30, 2026, Establishment Labs Holdings Inc. entered into an Amended Credit Agreement for new term loans up to $300 million, with $265 million advanced to repay existing obligations and cover transaction costs.