Izzy G.'s questions to Integra Lifesciences Holdings Corp (IART) leadership • Q1 2025
Question
Izzy from BTIG, on behalf of Ryan Zimmerman, asked for the basis of management's confidence in the second-half recovery of its private label business. The analyst also questioned if the strong 15% growth in the instruments portfolio was influenced by any tariff-related demand pull-forward.
Answer
CFO Lea Knight quantified the expected private label step-up at approximately $10 million in H2 vs. H1, though she adjusted the full-year forecast to a low single-digit decline. She reiterated confidence in a mid-single-digit growth trajectory for the business in 2026. CEO Mojdeh Poul clarified that the instrument business performance is inherently lumpy and the strong quarter was not driven by tariffs, expecting a return to its typical low-to-mid single-digit growth trend for the full year.