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MARKETS / NASDAQ / ESTA
NASDAQ · ORTHOPEDIC, PROSTHETIC & SURGICAL APPLIANCES & SUPPLIES · LARGE CAP

Establishment Labs Holdings Inc. ESTA

9 fiscal years on record · USD · FY2025 reported · SEC filings only
$211.1M
▲ 27.1% YoY
$-51.1M
$-56.9M
In brief

What this company does

Establishment Labs produces silicone gel-filled breast implants, branded as Motiva Implants, which form the centerpiece of its medical technology platform. Since launching Motiva Implants in October 2010, the majority of its revenue has been generated from sales of Motiva Implants. Its products are commercially available in over 100 countries through exclusive distributors, except in the United States, Brazil, Argentina and several European countries, where it sells through its direct sales force. The company manufactures its products in ISO-13485-certified manufacturing facilities located in the Coyol Free Zone office park in Alajuela, Costa Rica, operating two facilities there: the original facility, opened at the end of 2016, with capacity to produce over 400,000 implants a year, and the Sulàyöm Innovation Campus, finalized in June 2024, which increased its manufacturing capacity by approximately 730,000 units per year. As of December 31, 2025, its sales organization included 278 employees and contractors. As of December 31, 2025, the company had 1,004 employees. Its portfolio includes five product families of Motiva Implants: Round and Ergonomix Round, Ergonomix Oval, Anatomical TrueFixation, Ergonomix2 Round and Ergonomix2 Diamond, and Flora Tissue Expander. Establishment Labs initially incorporated in Costa Rica in 2004 and subsequently reorganized in 2013 under a parent holding company in the British Virgin Islands.

Written from the business description in ESTABLISHMENT LABS HOLDINGS INC.'s annual report to the U.S. Securities and Exchange Commission, filed 27 February 2026. Every sentence was checked against that document before publication.

Growth
USD 211.1M
Revenue, FY2025 · full 9-year series below
Revenue $M Net income $M
FY2025 · Revenue 211.1 · Net income -51.1
80M160M-40M-80M201720182019202020212022202320242025
Compound annual growth
+9.3%
+20.0%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +20.0% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−24 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -18.5% · Net -24.2%
-50%-100%201720182019202020212022202320242025
ROE
FY2025 · ROE -133.3%
-500%-1000%-1500%201720182019202020212022202320242025

Each USD of equity lost 133 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -56.9
-40M-80M201720182019202020212022202320242025
Net buybacks $M Dividends $M
FY2018 · Dividends — · Net buybacks -0.6
2.00M4.00M-0.25M-0.50M20172018

Total assetsUSD 357.2M
EquityUSD 23.5M
CashUSD 75.6M
Gross debtUSD 247.5M
Net debtUSD 171.9M
Current ratio3.04×

Net debt stands at 730% of equity.

The 9-year record
9 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023202220212020201920182017
Revenue $B0.20.20.20.20.10.10.10.10.0
Operating income $B−0.0−0.0−0.1−0.0−0.0−0.0−0.0−0.0−0.0
EBITDA $B−0.0−0.0−0.1−0.0−0.0····
Income tax $B−0.0−0.0−0.00.00.00.00.00.00.0
Net income $B−0.1−0.1−0.1−0.1−0.0−0.0−0.0−0.0−0.0
Free cash flow $B−0.1−0.1−0.1−0.1−0.0−0.0−0.0−0.0−0.0
EPS, diluted $−1.72−3.00−3.07−3.08−1.72−1.63−1.86−1.22−3.41
Dividend / sh $·········
Payout %·········
ROE %−133.3−236.7−1537.7−353.5−65.5−66.5−69.9−65.4·
Shares out B0.030.030.030.020.020.020.020.02·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 45 reconciliationsAUDITED

Reconciled in 9 of 19 fiscal years. 50 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityOrthopedic, Prosthetic & Surgical Appliances & Supplies
Listed onNASDAQ
Incorporated inoutside the United States — SEC code D8
Fiscal year endsDecember 31
Data on record since2017

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