Establishment Labs reported third‑quarter revenue of $53.8 million, up 33% from $40.2 million a year earlier, and a gross profit of $37.7 million, reflecting a gross‑margin improvement to 70.1% from 63.9% in the prior year.
Operating expenses rose to $41.7 million, an increase of $2.8 million, while the company’s net loss narrowed to $11.1 million from $16.7 million. Cash and cash equivalents stood at $70.6 million, providing a solid liquidity base as the company continues to invest in its U.S. commercial infrastructure.
Management reiterated its outlook, targeting a 20% share of the U.S. breast‑augmentation market and a U.S. Motiva sales volume that should exceed the previously guided $40 million. The company also emphasized its focus on achieving cash‑flow positivity in 2026, underscoring a shift toward profitability.
The results demonstrate continued momentum in the high‑margin U.S. market, improved operating leverage, and a clear path to the first positive adjusted EBITDA quarter in the second half of 2025. These developments reinforce the company’s competitive positioning and support its long‑term growth strategy.
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