Filing Flows › LivaNova (LIVN) › Q4 2025
LivaNova (LIVN) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 25, 2026
LivaNova (LIVN) reported revenue of $361M for the fourth quarter 2025 (Q4 2025), +12% from a year earlier and +0.9% from the quarter before. Operating margin was 11.8%, net earnings $30.9M (8.6% of revenue).
LivaNova, Q4 2025: revenue $361M (+12% year over year), operating margin 11.8%, net earnings $30.9M, operating cash flow $82.4M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $361M | +0.9% | +12% |
| Gross profit | $240M | -2% | +12% |
| Operating profit | $42.6M | -21% | +15% |
| Net earnings | $30.9M | +15% | -45% |
| Operating cash flow | $82.4M | -3% | +5% |
| Free cash flow | $53.5M | — | — |
What changed
Revenue was $360.9M in Q4 2025, up 12% year over year and up 1% from the previous quarter.
Gross margin was 66.4%, down 0.2 points from a year earlier. Operating profit was $42.6M, a 11.8% margin (up 0.3 points year over year). Of the extra revenue versus a year earlier, 14% reached operating profit, above the 12% margin then. Operating expenses grew 11% against revenue growth of 12%. The fastest-growing cost line was Research & development (+20%). Net earnings were $30.9M, down 45% year over year. The effective tax rate was -11.9%.
Operating cash flow was $82.4M (up 5% year over year), 267% of net earnings. Non-cash charges added back $12.1M of depreciation and amortization and $9.4M of share-based compensation. Working capital and other items added $30.0M. After purchases of plant, property, and equipment, net ($28.3M) and cybersecurity incident insurance proceeds ($600K), adjusted free cash flow as the company reports it was $53.5M.
Questions
What was LivaNova's revenue in the fourth quarter 2025?
LivaNova (LIVN) reported revenue of $361M for the fourth quarter 2025 (Q4 2025), +12% from a year earlier and +0.9% from the quarter before.
Was LivaNova profitable in the fourth quarter 2025?
Operating profit was $42.6M (11.8% of revenue) and net earnings $30.9M.
Source: LivaNova 10-K on SEC EDGAR.