Document News Release Integra LifeSciences Reports Second Quarter 2025 Financial Results PRINCETON, N.J.

Integra LifeSciences Reports Second Quarter 2025 Financial Results

PRINCETON, N.J., July 31, 2025 - Integra LifeSciences Holdings Corporation (Nasdaq IART), a leading global medical technology company, today reported financial results for the second quarter ending June 30, 2025.

Second Quarter 2025 Highlights

Second quarter revenues exceeded guidance adjusted earnings per diluted share (EPS) at the top end of the range

Second quarter revenues of $415.6 million decreased (0.6)% on a reported basis and (1.4)% on an organic basis compared to the prior year.

Second quarter GAAP earnings per diluted share of $(6.31), compared to $(0.16) in the prior year primarily reflecting a goodwill impairment charge of $511 million, recorded during the quarter. This charge was due to the decrease in the price per share of the Company's common stock related to a number of factors including recent tariff changes that have created broad economic uncertainty and the impact of quality, operational, and supply issues.

Adjusted earnings per diluted share of $0.45, compared to $0.63 in the prior year.

Full-Year revenue guidance range updated to reflect increased visibility

"I am proud of our team's performance and execution in the second quarter. Our strong revenue performance is a testament to our disciplined progress and the solid underlying demand trends for our portfolio of neurosurgery and tissue technology products," said Mojdeh Poul, president and chief executive officer.

"Our transformation is underway, and I'm encouraged by the focused implementation and steady progress made against our Compliance Master Plan. Importantly, we have now completed the assessment phase at all of our manufacturing sites. Looking ahead, we are committed to advancing our remediation efforts, delivering on our commitments, and establishing the foundation of operational excellence required to position Integra for predictable and sustainable growth and profitability over the long-term."

Second Quarter 2025 Consolidated Performance

Total reported revenues of $415.6 million decreased (0.6)% on a reported basis and (1.4)% on an organic basis compared to the prior year.

The Company reported GAAP gross margin of 50.4%, compared to 54.0% in the second quarter of 2024. Adjusted gross margin was 60.7%, compared to 65.2% in the prior year.

Adjusted EBITDA for the second quarter of 2025 was $71.2 million, or 17.1% of revenue, compared to $83.8 million, or 20.0% of revenue, in the prior year.

The Company reported a GAAP net loss of $(484.1) million, or $(6.31) per diluted share, in the second quarter of 2025, compared to GAAP net loss of $(12.4) million, or $(0.16) per diluted share, in the prior year.

Adjusted net income for the second quarter of 2025 was $34.4 million, or $0.45 per diluted share, compared to $49.0 million, or $0.63 per diluted share, in the prior year.

Second Quarter 2025 Segment Performance

Codman Specialty Surgical ( 70% of Revenues)

Total revenues were $304.0 million, representing reported growth of 0.7% and an organic decline of (0.3%) compared to the second quarter of 2024.

Sales in Neurosurgery increased 0.3% on an organic basis driven by growth in CUSA , Aurora , Mayfield , DuraSeal , Bactiseal and CereLink monitors, offset by existing shipping holds

Sales in Instruments declined 2.8% on an organic basis due to order timing

ENT growth was flat due to growth in AERA and TruDi navigated disposables offset by sinus balloons and the timing of capital sales

Tissue Technologies ( 30% of Revenues)

Total revenues were $111.6 million, representing a reported and organic decline of (4.1)% compared to the second quarter of 2024. Key drivers for the quarter include

Mid-Single Digit growth in wound reconstruction offset by ship holds

20% growth in Integra Skin and 10% growth in DuraSorb

High-single digit growth in MicroMatrix and Cytal

Sales in private label were down 5.9% due to a component supply delay and softer commercial demand experienced by a private label partner

Advancing our Priorities

Compliance Master Plan Implementation

Completed all manufacturing site baseline assessments

Developed remediation, resourcing, and execution plans to address assessment findings

Providing regular updates to the FDA on our warning letter committed actions

No related shipping holds initiated in Q2

Operational Execution Excellence

Achieved the highest-ever production rate for Integra Skin, returning to normal revenue levels

Stood up Program Management Office to drive prioritization, execution, and governance discipline

Established Supply Chain Control Tower, a centralized platform for strategic and tactical performance monitoring and improvement

Delivering on Our Financial Commitments

Delivered Q2 revenues above, and adj. EPS at the top of, guidance range

Continued strong demand for differentiated portfolio, with mid-single digit growth excluding shipping holds

Launched profitability initiative to drive efficiency gains and support long-term margin expansion, with meaningful initial impact expected over the next 12 to 18 months

Balance Sheet, Cash Flow and Capital Allocation

The Company generated cash flow from operations of $8.9 million in the quarter. Total balance sheet debt and net debt at the end of the quarter were $1.85 billion and $1.59 billion, respectively, and the consolidated total leverage ratio was 4.5x.

As of the end of the quarter, the Company had total liquidity of approximately $1.14 billion, including $254 million in cash plus short-term investments and the remainder available under its revolving credit facility.

For the third quarter 2025, the Company expects reported revenues in the range of $410 million to $420 million, representing reported growth of 7.7% to 10.3% and organic growth of 7.3% to 9.9%. The Company expects adjusted EPS in a range of $0.40 to $0.45 per share.

For the full year 2025, the Company is updating its revenue guidance range to $1.655 billion to $1.680 billion. The revenue range represents reported growth of 2.8% to 4.3% and organic growth of 0.6% to 2.1%. The Company reaffirms its adjusted EPS guidance range of $2.19 to $2.29 per share.

The Company's organic sales growth guidance for the third quarter and the full year excludes acquisitions and divestitures, as well as the effects of foreign currency.

Conference Call and Presentation Available Online

Integra has scheduled a conference call for 8 30 a.m. ET on Thursday, July 31, 2025, to discuss second quarter 2025 financial results and forward-looking financial guidance. The conference call will be hosted by Integra's senior management team and will be open to all listeners. Additional forward-looking information may be discussed in a question-and-answer session following the call. Integra's management team will reference a presentation during the conference call, which can be found on the Investor section of the website at investor.integralife.com.

A live webcast will be available on the Investors section of the Company's website at investor.integralife.com. For those planning to participate on the call, register here to receive dial-in details and an individual pin. While not required, it is recommended to join 10 minutes prior to the event's start. A webcast replay of the conference call will be available on the Investors section of the Company's website following the call.

At Integra LifeSciences, we are driven by our purpose of restoring patients' lives. We innovate treatment pathways to advance patient outcomes and set new standards of surgical, neurologic, and regenerative care. We offer a comprehensive portfolio of high quality, leadership brands. For the latest news and information about Integra and its products, please visit www.integralife.com.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties and reflect the Company's judgment as of the date of this release. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. Some of these forward-looking statements may contain words like "will," "believe," "may," "could," "would," "might," "possible," "should," "expect," "intend," forecast, guidance, "plan," "anticipate," target, or "continue," the negative of these words, other terms of similar meaning or they may use future dates. Forward-looking statements contained in this news release include, but are not limited to, statements concerning future financial performance, including projections for revenues, expected revenue growth (both reported and organic), GAAP and adjusted net income, GAAP and adjusted earnings per diluted share, non-GAAP adjustments such as divestiture, acquisition and integration-related charges, intangible asset amortization, structural optimization charges, EU Medical Device Regulation-related charges, charges related to the voluntary global recall of all products manufactured at the Company's facility in Boston, Massachusetts and the transition of Boston-related manufacturing operations to the Company's Braintree, Massachusetts facility, impairment charges, and income tax expense (benefit) related to non-GAAP adjustments and other items estimates regarding the projected impact of tariffs or other changes in trade policy on the Company's business, financial condition and results of operations and the Company's expectations and plans with respect to business and operational performance, strategic initiatives, capabilities, resources, product development, product availability and regulatory approvals, including expectations regarding the efficacy of the Company's compliance master plan to improve the Company's quality systems and the

Company's profitability improvement initiative to realize expected savings and enhance operational efficiency. It is important to note that the Company's goals and expectations are not predictions of actual performance. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from predicted or expected results. Such risks and uncertainties include, but are not limited, to the following the ongoing and possible future effects of global challenges, including macroeconomic uncertainties, inflation, supply chain disruptions, trade regulation and tariffs, duties or other measures implemented by the U.S. or other countries, geopolitical conflicts, and U.S. and global recession concerns, on the Company's customers and on the Company's business, financial condition, results of operations and cash flows the Company's ability to execute its operating plan effectively the Company's ability to successfully integrate Acclarent and other acquired businesses the Company's ability to achieve sales growth in a timely fashion the Company's ability to manufacture and ship sufficient quantities of its products to meet its customers' demands the ability of third-party suppliers to supply us with raw materials and finished products the Company's ability to manage its direct sales channels effectively the sales performance of third-party distributors on whom the Company relies to generate revenue for certain products and geographic regions the Company's ability to access and maintain relationships with customers of acquired entities and businesses physicians' willingness to adopt and third-party payors' willingness to provide or maintain reimbursement for the Company's recently launched, planned and existing products initiatives launched by the Company's competitors downward pricing pressures from customers the Company's ability to secure regulatory approval for products in development the Company's ability to remediate quality systems violations difficulties in implementing the Company's compliance master plan and realizing the benefits contemplated thereby within the anticipated timeframe, or at all difficulties or delays in obtaining and maintaining required regulatory approvals related to the transition of the manufacturing to the Company's Braintree manufacturing facility the possibility that costs or difficulties related to building and the operationalization of the Braintree facility or the transition of manufacturing activities from the Company's Boston facility to the Braintree facility will be greater than expected fluctuations in hospitals' spending for capital equipment uncertainties inherent in the development of new products and the enhancement of existing products, including FDA approval and or clearance and other regulatory risks, technical risks, cost overruns and delays the Company's ability to comply with regulations regarding products of human origin and products containing materials derived from animal source difficulties in controlling expenses, including costs to procure and manufacture the Company's products difficulties in implementing the Company's profitability improvement initiative and realizing the benefits contemplated thereby within the anticipated timeframe, or at all the ability of the Company to successfully manage leadership and organizational changes and the impact of changes in management or staff levels the impact of goodwill and intangible asset impairment charges if future operating results of acquired businesses are significantly less than the results anticipated at the time of the acquisitions, the Company's ability to leverage its existing selling organizations and administrative infrastructure the Company's ability to increase product sales and gross margins, and control non-product costs the Company's ability to achieve anticipated growth rates, margins and scale and execute its strategy generally the amount and timing of divestiture, acquisition and integration-related costs the geographic distribution of where the Company generates its taxable income new U.S. and foreign government laws and regulations, and changes in existing laws, regulations and enforcement guidance, which affect areas of our operations including, but not limited to, those affecting the health care industry, including the EU Medical Device Regulation the scope, duration and effect of U.S. and international governmental, regulatory, fiscal, monetary and public health responses to any future public health crises fluctuations in foreign currency exchange rates the amount of our bank borrowings outstanding and other factors influencing liquidity potential negative impacts resulting from environmental, social and governance matters and the economic, competitive, governmental, technological, and other risk factors and uncertainties identified under the heading "Risk Factors" included in Item 1A of Integra's Annual Report on Form 10-K for the year ended December 31, 2024 and information contained in subsequent filings with the Securities and Exchange Commission.

These forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events, or otherwise, except as otherwise required by law.

Discussion of Adjusted Financial Measures

In addition to our GAAP results, we provide certain non-GAAP measures, including organic revenues, adjusted earnings before interest, taxes, depreciation and amortization ("EBITDA"), adjusted net income, adjusted gross margin, adjusted earnings per diluted share, and net debt. Organic revenues consist of total revenues excluding the effects of currency exchange rates, revenues from current-period acquisitions and product divestitures. Adjusted EBITDA consists of GAAP net income excluding (i) depreciation and amortization (ii) other income (expense)

(iii) interest income and expense (iv) income tax expense (benefit) (v) impairment charges and (vi) those operating expenses also excluded from adjusted net income. The measure of adjusted net income consists of GAAP net income, excluding (i) structural optimization charges (ii) divestiture, acquisition and integration-related charges (iii) EU Medical Device Regulation-related charges (iv) charges related to the manufacturing stoppage and voluntary global recall of all products manufactured at the Company's Boston, Massachusetts facility and distributed between March 1, 2018 and May 22, 2023, as previously disclosed in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 23, 2023 (the "recall") and the transition of Boston-related manufacturing operations to the Company's Braintree, Massachusetts facility (v) intangible asset amortization expense (vi) income tax impact from adjustments and (vii) impairment charges. The measure of adjusted gross margin is calculated by dividing adjusted gross profit by total revenues. Adjusted gross profit consists of GAAP gross profit adjusted for (i) structural optimization charges (ii) divestiture, acquisition and integration-related charges (iii) charges related to the recall and the transition of Boston-related manufacturing operations to the Company's Braintree, Massachusetts facility (iv) EU Medical Device Regulation-related charges and (v) intangible asset amortization expense. The adjusted earnings per diluted share measure is calculated by dividing adjusted net income attributable to diluted shares by diluted weighted average shares outstanding. The measure of net debt consists of GAAP total debt (excluding deferred financing costs) less short-term investments, cash and cash equivalents.

Reconciliations of GAAP revenues to organic revenues, GAAP net income to adjusted EBITDA, and adjusted net income, GAAP gross margin to adjusted gross margin, GAAP total debt to net debt, and GAAP earnings per diluted share to adjusted earnings per diluted share all for the quarters ended June 30, 2025 and 2024.

The Company is providing forward-looking guidance regarding adjusted earnings per diluted share but is not providing a reconciliation to GAAP earnings per share, because certain GAAP expense items are highly variable, and management is unable to predict them with reasonable certainty and without unreasonable effort. Specifically, the financial impact and timing of divestitures, acquisitions, integrations, structural optimization and efforts to comply with the EU Medical Device Regulation are uncertain, depend on various dynamic factors and are not reasonably ascertainable at this time. These expense items could have a material impact on GAAP results.

The Company believes that the presentation of organic revenues and the other non-GAAP measures provide important supplemental information to management and investors regarding financial and business trends relating to the Company's financial condition and results of operations. For further information regarding why Integra believes that these non-GAAP financial measures provide useful information to investors, the specific manner in which management uses these measures, and some of the limitations associated with the use of these measures, please refer to the Company's Current Report on Form 8-K regarding this earnings press release filed today with the Securities and Exchange Commission. This Current Report on Form 8-K is available on the SEC's website at www.sec.gov or on our website at www.integralife.com.

Investor Relations Contact

chris.ward integralife.com

laurene.isip integralife.com

INTEGRA LIFESCIENCES HOLDINGS CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

The following table presents revenues disaggregated by the major sources for the three months ended June 30, 2025 and 2024 (amounts in thousands)

(1) Organic revenues have been adjusted to exclude foreign currency (current period), acquisitions and to account for divested and discontinued products.

Items included in GAAP net income and location where each item is recorded are as follows

Three Months Ended June 30, 2025

a)COGS - Cost of goods sold

b)SG A - Selling, general and administrative

c)R D - Research development

d)Amort. - Intangible asset amortization

e)OI E - Other income expense

f)Tax - Income tax expense (benefit)

Items included in GAAP net income and location where each item is recorded are as follows

Three Months Ended June 30, 2024

a)COGS - Cost of goods sold

b)SG A - Selling, general and administrative

c)R D - Research development

d)Amort. - Intangible asset amortization

e)OI E - Other income expense

f)Tax - Income tax expense (benefit)

RECONCILIATION OF NON-GAAP ADJUSTMENTS - GAAP NET INCOME TO ADJUSTED EBITDA

RECONCILIATION OF NON-GAAP ADJUSTMENTS - GAAP NET INCOME TO MEASURES OF ADJUSTED NET INCOME AND ADJUSTED EARNINGS PER SHARE

(In thousands, except per share amounts)

CONDENSED BALANCE SHEET DATA

CONDENSED STATEMENT OF CASH FLOWS

RECONCILIATION OF NON-GAAP ADJUSTMENTS - GAAP OPERATING CASH FLOW TO