Establishment Labs (NASDAQ:ESTA) reported second-quarter revenue growth of 31.7% year over year, driven by continued rapid expansion in the United States, rising adoption of its Minimally Invasive platform and improving operating leverage.
Revenue for the quarter totaled $67.5 million, while adjusted EBITDA was positive $3.7 million, compared with an adjusted EBITDA loss of $8.5 million in the prior-year period
The company raised its full-year revenue outlook to a range of $269 million to $271 million, from prior guidance of $266.5 million to $268.5 million. CEO Peter Caldini said the company had started the third quarter well despite the period traditionally being the seasonal low point for breast augmentation procedures. Establishment Labs expects to transition to free-cash-flow positive in the second half of 2026 and to remain free-cash-flow positive for fiscal 2027.
U.S. Business Drives Growth U.S. revenue increased 140.9% from a year earlier to $24.7 million, representing 36.6% of total company revenue, compared with 20% a year earlier. U.S. revenue also rose 26% sequentially from the first quarter, according to Caldini.