ESTAESTABLISHMENT LABS HOLDINGS INC.
Orthopedic, Prosthetic & Surgical Appliances & Supplies
- Revenue
- $211M
- 27% YoY
- Operating margin
- -18.5%
- 39% YoY
- EBITDA
- −$33M
- 28% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- −$71M net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCClear5% of revenueOver 10% of revenue
- Payouts exceed cash flowClear0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear0% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $127M | $162M | $165M | $166M | $211M | 27% |
| Operating income | −$25M | −$40M | −$65M | −$50M | −$39M | 22% |
| Net income | −$41M | −$75M | −$79M | −$85M | −$51M | 40% |
| Operating cash flow | −$28M | −$52M | −$89M | −$59M | −$51M | 13% |
| Capex | $2M | $3M | $8M | $6M | $6M | 1.1% |
| Stock-based comp | $10M | $13M | $14M | $14M | $11M | 21% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 194 | 99 |
| FY2024 | $3M | $7M | 167 | 105 |
| FY2023 | $2M | $304K | 94 | 106 |
| FY2022 | $3M | $6M | 237 | 100 |
| FY2021 | $2M | $6M | 244 | 125 |