Establishment Labs (NASDAQ:ESTA) Announces Earnings Results

Establishment Labs (NASDAQ:ESTA) posted its quarterly earnings data on Tuesday. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.13, FiscalAI reports. Establishment Labs had a negative return on equity of 197.22% and a negative net margin of 24.19%.The firm had revenue of $64.62 million during the quarter, compared to analyst estimates of $63.80 million. During the same period last year, the company posted ($1.19) EPS. The business’s quarterly revenue was up 45.2% on a year-over-year basis.

Here are the key takeaways from Establishment Labs’ conference call:

• Strong financial momentum — Q4 revenue was $64.6M (+45.2% y/y) and 2025 revenue was $211.1M (+27.2%), with Q4 adjusted EBITDA of +$5.5M versus -$13.1M a year ago and guidance of $264M–$266M for 2026 while expecting quarterly adjusted EBITDA positivity and full-year cash-flow positivity in 2027.
• Rapid U.S. adoption of Motiva — U.S. Motiva revenue was $45.6M in 2025, the company reports ~20% augmentation market share exiting 2025, 1,500+ U.S. accounts onboarded, and plans to add up to 15 more sales reps to accelerate share gains.
• Preserve minimally invasive platform is expanding the market — Early data show Preserve draws new patients (≈15% were not previously considering augmentation), commands ~2x pricing versus traditional augmentation, and is expected to contribute to >$30M in global demand in 2026 with 200 surgeons targeted for training in 2026.
• Pipeline and international expansion — OUS direct markets grew strongly (Europe direct >20%), China performance is improving but requires distributor work, and Motiva reconstruction was submitted to the FDA (recon could materially expand U.S. TAM and ASPs but is expected to drive revenue mainly in 2027+).
• Corporate and capital position — Management is transitioning (new CFO Cassandra Harris; Raj to SVP, Global Strategy), cash was $75.6M at year-end with no planned equity raises, and the company is evaluating refinancing options as its credit facility enters its final year.

Establishment Labs Stock Down 3.1%

Shares of Establishment Labs stock traded down $2.45 during trading hours on Thursday, reaching $75.84. The company’s stock had a trading volume of 112,790 shares, compared to its average volume of 516,505. The company has a market capitalization of $2.20 billion, a P/E ratio of -43.59 and a beta of 0.99. The stock’s fifty day simple moving average is $71.06 and its two-hundred day simple moving average is $57.87. Establishment Labs has a one year low of $26.56 and a one year high of $83.31. The company has a debt-to-equity ratio of 15.06, a quick ratio of 2.10 and a current ratio of 3.33.

Analyst Upgrades and Downgrades

ESTA has been the subject of a number of research analyst reports. Stephens lifted their target price on Establishment Labs from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Establishment Labs from $71.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Establishment Labs in a research report on Monday, December 29th. Canaccord Genuity Group increased their target price on shares of Establishment Labs from $72.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Finally, Needham & Company LLC lifted their price target on shares of Establishment Labs from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.29.

Hedge Funds Weigh In On Establishment Labs

A number of hedge funds have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Establishment Labs by 20.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 57,215 shares of the company’s stock worth $2,335,000 after purchasing an additional 9,557 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Establishment Labs by 1.2% during the second quarter. Geode Capital Management LLC now owns 25,917 shares of the company’s stock valued at $1,105,000 after buying an additional 299 shares during the last quarter. WINTON GROUP Ltd bought a new stake in Establishment Labs during the second quarter worth $651,000. Nebula Research & Development LLC raised its position in Establishment Labs by 27.9% in the 2nd quarter. Nebula Research & Development LLC now owns 16,214 shares of the company’s stock valued at $692,000 after buying an additional 3,538 shares during the last quarter. Finally, Sei Investments Co. raised its position in Establishment Labs by 13.3% in the 2nd quarter. Sei Investments Co. now owns 48,428 shares of the company’s stock valued at $2,068,000 after buying an additional 5,668 shares during the last quarter. Institutional investors and hedge funds own 72.91% of the company’s stock.

About Establishment Labs

Establishment Labs Holdings Inc is a global medical technology company specializing in the design, development and manufacture of silicone gel breast implants for aesthetic and reconstructive surgery. The company’s proprietary portfolio is built around patient-focused safety, customization and innovation, offering solutions intended to enhance surgical outcomes and support clinical traceability.

The company’s flagship products fall under the Motiva® brand, which includes a range of ergonomic and round breast implants featuring SilkSurface® texturing and an embedded Q Inside® Safety microtransponder for unique implant identification.