Integer Holdings (ITGR) Company Report

Integer Holdings Corporation (ITGR) projects 2026 reported growth to be down 2% to up 2%, primarily due to 3%-4% headwinds from three specific new products and a 2% headwind from the exit of its portable medical business.
Despite these challenges, the company's core business is expected to grow 4%-7% in 2026, in line with or slightly above its weighted average market growth rate of 4%-6%.
The impact of the headwinds is anticipated to be more significant in the first half of 2026, with a projected return to market growth in the second half of 2026 and above market performance in 2027, supported by a robust development pipeline.
Integer's development sales, a leading indicator of its pipeline, are expected to have grown 3x from 2017 by the end of 2025, with 80% directed towards high-growth markets such as electrophysiology and neurovascular.
For 2026, the company forecasts its operating margin to be down 5% to up 4% due to lower sales volumes impacting fixed cost leverage, and its board has authorized a $200 million share repurchase program.

11 hours ago

Transcript

Integer Holdings Corporation Updates 2026 Outlook and Announces Share Repurchase

ITGR

Guidance Update

Demand Weakening

Share Buyback

Integer Holdings Corporation (ITGR) projects 2026 reported sales to be down 2% to up 2%, incorporating a 3-4% headwind from three specific new products and a 2% headwind from exiting its portable medical business.
The company's core business organic growth for 2026 is expected to be flat to plus 4%, with headwinds being more pronounced in the first half of the year and abating in the second half due to easier 2025 comparables.
CEO Payman Khales noted that the simultaneous underperformance of three products is highly unusual and temporary, and the company anticipates returning to above-market performance in 2027 driven by a strong development pipeline.
The board authorized a $200 million share repurchase program, which will be funded by cash on hand and free cash flow, serving as an additional capital allocation lever.
Operating margin guidance for 2026 is down 5% to up 4%, as lower sales volumes will pressure fixed cost leverage despite continued variable cost efficiencies.

12 hours ago

Transcript

Integer (ITGR) Provides 2026 Guidance Update and Capital Allocation Plans

ITGR

Guidance Update

Demand Weakening

Share Buyback

Integer (ITGR) projects its 2026 core business to grow 4-7%, which is in line with or slightly above its weighted average market growth rate of 4-6%.
However, the company's 2026 reported sales guidance is down 2% to up 2%, reflecting a 3-4% headwind from three underperforming new products and an additional 2% headwind from the strategic exit of its portable medical business.
These headwinds are expected to be more pronounced in the first half of 2026, leading to a more significant reduction in Q1 2026 compared to Q4 2025, with a return to market growth anticipated in the second half of 2026 due to easier comparables.
Integer expects to return to above-market performance in 2027, supported by a robust product pipeline, 80% of which is geared towards faster-growing markets.
The board has authorized a $200 million share repurchase program, providing an additional lever for capital allocation alongside organic investment and tuck-in acquisitions.

12 hours ago

Transcript

Integer Holdings Board Authorizes $200 Million Share Repurchase Program

ITGR

Share Buyback

Integer Holdings Corporation's Board of Directors has authorized a share repurchase program of up to $200 million of its outstanding common stock.
The company intends to fund the program primarily using cash on hand and free cash flows.
The timing and volume of share repurchases will be executed at the discretion of management.

Nov 4, 2025, 1:00 PM

Press Release

Integer Holdings Corporation Appoints Payman Khales as President and CEO

ITGR

CEO Change

Management Change

Executive Compensation

Payman Khales officially assumed the role of President and Chief Executive Officer of Integer Holdings Corporation, effective October 24, 2025, succeeding Joseph Dziedzic, who will serve as an advisor until March 31, 2026.
Mr. Khales also joined the company's Board of Directors on October 24, 2025.
As CEO, Mr. Khales's compensation includes an annual base salary of $875,000 and eligibility for an annual cash short-term incentive award with a target of 100% of his base salary.
His aggregate annual long-term incentive award target for 2026 will be not less than $5,000,000, and he received a special grant of service-based restricted stock units with a grant date fair value of $550,000.

Oct 24, 2025, 12:01 PM

8-K

Integer Holdings Corporation Reports Strong Q3 2025 Results, Updates 2025 Outlook, and Provides Preliminary 2026 Guidance

ITGR

Earnings

Guidance Update

Demand Weakening

Integer Holdings Corporation reported strong Q3 2025 financial results, with sales reaching $468 million (an 8% reported growth) and adjusted EPS growing 25% year-over-year to $1.79.
The company updated its 2025 full-year outlook, reducing the midpoint of its sales forecast by $16 million and adjusted EPS by $0.02, now expecting reported sales between $1,840 million and $1,854 million and adjusted EPS between $6.29 and $6.43.
For 2026, Integer provided a preliminary outlook anticipating organic sales to be flat to up 4% and reported sales down 2% to up 2%, primarily due to a 3% to 4% headwind from slower market adoption of three new products.
Payman Khales will assume the role of President and CEO, and the company expects to return to above-market growth in 2027 following the near-term headwinds.

Oct 23, 2025, 1:00 PM

Transcript

Integer Holdings Corporation Updates 2025 Guidance and Provides Preliminary 2026 Outlook

ITGR

Earnings

Guidance Update

Demand Weakening

Integer Holdings Corporation reported strong Q3 2025 financial results, with sales growing 8% on a reported basis and 7% organically, and adjusted EPS increasing 25% year-over-year to $1.79.
The company revised its full year 2025 sales outlook downwards by $16 million at the midpoint, now expecting reported sales growth of 7% to 8% and adjusted EPS growth of 19% to 21%.
This adjustment is attributed to slower-than-forecasted market adoption of three new products (two electrophysiology and one neuromodulation) from select emerging customers, which is described as a "highly unusual" magnitude of change across multiple products simultaneously.
Integer provided a preliminary 2026 outlook, projecting a 3%-4% headwind to total company sales from these products, resulting in expected organic sales of flat to up 4% and reported sales of down 2% to up 2%. The impact is expected to be more pronounced in the first half of 2026, with a recovery anticipated in the second half.

Oct 23, 2025, 1:00 PM

Transcript

Integer Holdings Corp Outlines Strategy for PFAS Coating Alternatives

ITGR

New Projects/Investments

Regulatory Changes

Supply Chain

Integer Holdings Corp, a leading medical device Contract Development and Manufacturing Organization (CDMO), is actively navigating the evolving regulatory landscape concerning PFAS (Per- and Polyfluoroalkyl Substances) coatings.
The company is committed to continuing PTFE coating provision while proactively developing and offering PFAS-free alternatives, including Perylene (selected for its proven track record and regulatory familiarity) and other early-stage solutions, to address potential health and environmental concerns.
Integer stresses the importance of early engagement in product development for coating considerations to ensure a streamlined transition and maintain device compliance and market availability.
The company is closely monitoring potential impacts from both regulatory changes and supply chain restrictions related to PFAS materials.

Jun 24, 2025, 10:45 PM

Integer Holdings outlines CEO succession and growth strategy

ITGR

CEO Change

M&A

Revenue Acceleration/Inflection

CEO succession: Current CEO Joe will retire in October, with Peyman to assume the CEO role in a six-month transition; Joe will remain as an advisor until March 2026.
Focused growth algorithm: Integer’s “growth teams” target four core markets—electrophysiology, structural heart, neurovascular and neuromodulation—aiming to outgrow end markets by 200 bps and deliver profit growth at 2× sales growth while maintaining 2.5–3.5× leverage.
Strong segment performance: The cardiovascular (C&D) business grew 11% organically in Q1, with the CNV segment expected to deliver mid-teens growth in 2025, and the EP market projected to double to $20 billion by 2030, underpinning momentum across their vertically integrated supply chain.
Targeted tuck-in M&A: Integer pursues founder-led tuck-ins to add critical capabilities, exemplified by the October 2023 Inuraco acquisition to bolster neurovascular offerings, focusing on growth synergies rather than cost cuts.
Robust backlog: Order book has grown from $300 million pre-pandemic to ~$800 million, and is expected to normalize to ~$600 million by year-end due to the Portal Medical exit and Irish facility order scheduling, equating to roughly two quarters of sales visibility.

Jun 17, 2025, 3:51 PM

Integer Holdings Corp Amends Charter and Bylaws in Q1 2025 8-K Filing

ITGR

Proxy Vote Outcomes

Board Change

Amendment to the Certificate of Incorporation was approved to limit officer monetary liability, detailing specific exceptions where personal liability remains, as adopted at the Annual Meeting on May 21, 2025.
The company also revamped its bylaws by eliminating the ratification of prior board actions, reinforcing its governance framework, with related documents filed as exhibits.
A series of proxy vote outcomes were reported, including the election of new directors and the ratification of Deloitte & Touche LLP as the independent auditor, underscoring key corporate governance decisions.

May 28, 2025, 12:00 AM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for Integer Holdings.