Establishment Labs Posts Strong 2025 Growth, Projects Continued Expansion — Establishment Labs Holdings Inc.

Event summary

Fourth quarter revenue up 45.2% year-over-year to $64.6 million.
Full-year 2025 revenue grew 27.2% to $211.1 million.
Achieved positive adjusted EBITDA of $5.5 million in Q4, reversing a $13.1 million loss from the prior year.
Projected 2026 revenue between $264 million and $266 million, representing 25-26% growth over 2025.
Cash balance increased to $75.6 million as of December 31, 2025.

The big picture

Establishment Labs' strong financial performance in 2025 highlights its successful pivot towards tissue-preserving and minimally invasive options in breast aesthetics and reconstruction. The company's ability to grow revenue while improving profitability underscores the market demand for its innovative solutions. As it continues to expand globally, Establishment Labs is positioning itself as a key player in the women's health and wellness sector.

What we're watching

Market Expansion: How the company's Preservé technology will continue to drive growth in both dollar and procedure volumes globally.
Financial Discipline: Whether Establishment Labs can sustain its improved financial discipline while maintaining aggressive growth targets.
Cash Flow Dynamics: The pace at which the company achieves positive cash flow, with projections for the first quarter of 2026 and full-year positivity in 2027.