Filing Flows › Establishment Labs Holdings (ESTA) › Q4 2025
Establishment Labs Holdings (ESTA) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 27, 2026
Establishment Labs Holdings (ESTA) reported revenue of $64.6M for the fourth quarter 2025 (Q4 2025), +45% from a year earlier and +20% from the quarter before. Operating margin was -6.1%, net loss $2.6M (4.0% of revenue).
Establishment Labs Holdings, Q4 2025: revenue $64.6M (+45% year over year), operating margin -6.1%, net loss $2.6M, operating cash flow −$162K. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $64.6M | +20% | +45% |
| Operating profit | −$3.9M | — | — |
| Net earnings | −$2.6M | — | — |
| Operating cash flow | −$162K | — | — |
What changed
Revenue was $64.6M in Q4 2025, up 45% year over year and up 20% from the previous quarter.
Gross margin was 70.5%, up 2.0 points from a year earlier. Operating costs exceeded revenue by $3.9M, an operating margin of -6.1%. Operating expenses grew 1% against revenue growth of 45%. The quarter ended with a net loss of $2.6M, narrower than the previous quarter's $11.1M loss. Net interest and other expense of $8.0M was the main reason.
Operating cash flow was −$162K. Non-cash charges added back $1.5M of depreciation and amortization and $2.9M of share-based compensation. Working capital and other items used $1.9M. Capital expenditures of $1.8M exceeded it, leaving free cash flow of −$2.0M.
Questions
What was Establishment Labs Holdings' revenue in the fourth quarter 2025?
Establishment Labs Holdings (ESTA) reported revenue of $64.6M for the fourth quarter 2025 (Q4 2025), +45% from a year earlier and +20% from the quarter before.
Was Establishment Labs Holdings profitable in the fourth quarter 2025?
Operating loss was $3.9M (-6.1% of revenue) and net loss $2.6M.