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ESTA · NASDAQ · Medical - Devices

Establishment Labs

Develops breast implants, tissue expanders, and a minimally invasive enhancement procedure.

$70.64

After-hours close+0.02 (+0.03%)

At close$70.62(−1.64%)

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Profile

Establishment Labs Holdings Inc.ESTAHealth Care

Motiva implants, the Motiva Flora tissue expander, and Mia form a breast-aesthetics and reconstruction portfolio. Manufacturing in Costa Rica supports international commercialization and a U.S. business operating under FDA PMA requirements.

Motiva Implants, the Motiva Flora tissue expander, and the Mia minimally invasive procedure serve breast aesthetics and reconstruction. The company develops, manufactures, and commercializes these products within a women’s-health focus.

Manufacturing is based in two Costa Rican facilities, while the principal executive office is in Austin. Motiva expanded from international sales to China and began U.S. commercial sales after FDA PMA approval.

U.S. Motiva sales operate under the FDA PMA framework, including registry participation and post-approval studies. Product development, manufacturing compliance, and regulatory requirements shape the operating model for surgeon use.

Company facts

CEOFilippo "Peter" Caldini

ListedJul 23, 2018

ExchangeNASDAQ

HeadquartersAustin, TX

CountryCosta Rica

Employees1,004

CIK0001688757

ISINVGG312491084

Key statistics

Market cap$2.08B

EPS (ttm)−$1.31

P/E (ttm)−53.99

ROE-203.9%

P/B98.48

P/S8.46

Dividend yield—

Beta1.37vs XLV 0.57

Year to date +2.6% · Average volume (30d) 499.0K

Analysts

Price target, next 12 months$104.00+47.2%Median of 14 analysts · vs the Aug 28 close

ConsensusBuy13 of 14 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $70.64

High$105.00+48.6%

Median$104.00+47.2%

Low$95.00+34.5%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Prior rating	Rating	Prior target	Target
Aug 13, 2026	Citigroup	Upgrade	Neutral	Buy
Aug 7, 2026	BTIG	Reiterate		Buy	$86	$103
Aug 6, 2026	Needham	Reiterate		Buy	$84	$95
Aug 6, 2026	Canaccord Genuity	Target			$85	$105
Jul 15, 2026	Mizuho Securities	Target			$70	$105

Earnings

EPS

Estimate−$0.26

ReportedDue Nov 4, 2026

Revenue

Estimate$66.8M

ReportedDue Nov 4, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 6, 2026Q2 FY26	−$0.34	−$0.39	−15.8%	$65.8M	$67.5M	+2.7%	−13.37%
May 6, 2026Q1 FY26	−$0.35	−$0.40	−12.7%	$57.4M	$59.9M	+4.3%	−3.37%
Feb 24, 2026Q4 FY25	−$0.22	−$0.09	+58.1%	$63.8M	$64.6M	+1.3%	−1.73%
Nov 5, 2025Q3 FY25	−$0.54	−$0.38	+29.6%	$63.8M	$53.8M	−15.7%	+7.27%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$41.4M	$51.3M	$53.8M	$64.6M	$59.9M	$67.5M
Gross profit	$27.8M	$35.3M	$37.7M	$45.5M	$42.3M	$47.7M
Operating income	−$16.9M	−$14.1M	−$4.0M	−$3.9M	−$6.5M	−$4.3M
Net income	−$20.7M	−$16.6M	−$11.1M	−$2.6M	−$13.4M	−$11.7M
Diluted EPS	−$0.70	−$0.56	−$0.38	−$0.09	−$0.45	−$0.39
Gross margin	67.2%	68.8%	70.1%	70.5%	70.7%	70.6%
Operating margin	-41.0%	-27.5%	-7.5%	-6.1%	-10.9%	-6.4%

Fiscal years (4-quarter sums)FY21 $126.7M · FY22 $161.7M · FY23 $165.2M · FY24 $166.0M · FY25 $211.1M

Revenue by geography · Q2 FY26

Non-US$42.8M · 63%

United States$24.7M · 37%

Balance sheet, Jun 30, 2026Cash & short-term investments $71.2M · Total debt $263.7M · Total assets $351.9M · Shareholders' equity $21.6M

Dividends

No dividends on record.

Ownership

Institutions 102.11%Insiders 17.43%

A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.

Shares outstanding 29.43M · Float —

Float — provider float is below the insider stake.

A Form 4 total here can count shares the filer formally disclaims — an award voted by proxy, for instance — which the holder's own Schedule 13D/G excludes, so where the two disagree the schedule's smaller figure is used.

The provider's float is smaller than the insider stake it should exclude, so it is not shown.

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
JW Asset Management, LLC	2.69M	9.15%	13G	Jul 31, 2026
RTW Investments, LP	2.66M	9.02%	13F	Aug 14, 2026
Qatar Investment Authority	2.39M	8.27%	13G	May 13, 2025
prospectus supplement filed with the Securities and Exchange Commission (“SEC”) under Rule 424(b)	1.76M	6.03%	13G	Nov 12, 2024
BlackRock, Inc.	1.58M	5.40%	13G	Jul 28, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
May 28, 2026	JW Asset Management, LLC	other: See footnote 3	−65,100	$72.89
May 27, 2026	JW Asset Management, LLC	other: See footnote 3	−113	$72.50
May 26, 2026	JW Asset Management, LLC	other: See footnote 3	−25,320	$74.39
May 21, 2026	JW Asset Management, LLC	10 percent owner	−16,999	$71.40
May 20, 2026	JW Asset Management, LLC	10 percent owner	−3,580	$70.56