The combination of strong organic growth, improved guidance, and positive regulatory developments (Medicare reimbursement increase and FDA approval) suggests sustainable momentum. Traders should monitor execution on the OSA market entry and whether the company can maintain margin expansion while investing in growth.
Price Chart
Executive Summary
LivaNova reported strong full-year 2025 results with double-digit revenue growth and improved margins, driven by both Cardiopulmonary and Neuromodulation segments. Despite a GAAP loss due to a $365.6 million environmental liability, adjusted earnings grew 15.4%. The company issued 2026 guidance for 6-7% revenue growth and $4.15-$4.25 adjusted EPS, supported by increased Medicare reimbursement and FDA approval for a new digital health platform.
Key Financial Metrics
Key Facts
- Full-year 2025 revenue grew 10.7% to $1.39 billion, with Cardiopulmonary up 14.9% and Neuromodulation up 7.0%
- Full-year adjusted EPS was $3.90, up 15.4% from $3.38 in 2024
- GAAP loss of $4.45 per share due to $365.6 million SNIA environmental liability expense
- 2026 guidance: 6-7% constant-currency revenue growth and $4.15-$4.25 adjusted EPS
- Received increased Medicare reimbursement for VNS Therapy procedures, with payments rising ~48% for new implants
- Received FDA approval for cloud-based digital health platform
Financial Impact
Revenue growth of 10.7% and adjusted EPS growth of 15.4% in 2025, with 2026 guidance projecting continued growth
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Cardiopulmonary | $785.40 | +14.9% |
| Neuromodulation | $592.80 | +7.0% |
Risk Factors
- One-time $365.6 million environmental liability expense impacted GAAP results
- Adjusted free cash flow guidance for 2026 ($160-180M) is below 2025's $183.3M, suggesting potential investment needs
- Dependence on successful commercialization of new OSA opportunity
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001639691-26-000006 |
| Document: livn-20260225.htm | 0001639691-26-000006 |
| Document: 0001639691-26-000006-index-headers.html | 0001639691-26-000006 |
| Document: 0001639691-26-000006-index.html | 0001639691-26-000006 |
| Document: 0001639691-26-000006.txt | 0001639691-26-000006 |
| CONTEXT: Previous Earnings (2026-02-25) | 0001639691-26-000006 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 14, 2026 18d ago | Insider Cluster | $79.47 $78.49 | ▼ −1.23% | ▼ −3.34% | $75.07 (−5.54%) |
Aug 5, 2026 8w ago | 8-K | $78.15 $80.78 | ▲ +3.37% | ▲ +3.02% | $75.07 (−3.93%) |
May 6, 2026 21w ago | 8-K | $66.26 $71.75 | ▲ +8.29% | ▲ +7.15% | $75.07 (+13.30%) |
Apr 29, 2026 22w ago | DEFA14A | $58.92 $66.26 | ▲ +12.46% | ▲ +9.35% | $75.07 (+27.41%) |
Feb 25, 2026 31w ago | 8-K | $70.29 $65.26 | ▼ −7.16% | ▼ −6.06% | $75.07 (+6.80%) |
US Market Status
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