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Establishment Labs Holdings Inc

Establishment Labs Holdings Inc

ESTA
$92.58USD↑+0.30%+0.28 today

MARKET CAP

2.7B

P/E (TTM)

—

FWD P/E

—

DAY RANGE

$90 – $93

52W RANGE

$33
$93

AI Summary

Stalk
StalkMedium

Although the medium-term remains bullish in a Stage 2 advancing regime, the active Bullish Exhaustion candle and overbought context suggest near-term pullback risk. Execution should be deferred until price stabilizes and pulls back into rising EMAs or prior support zones. Monitoring for absorption around the 20 EMA and 50 DMA will define the next favorable entry opportunity.

  • ↑Q1 revenue $59.9M (+45% YoY); US sales +216% to $19.6M
  • ↑Adjusted EBITDA of $1.2M with 70.7% gross margin and $68.1M cash
  • ↓Elevated debt levels raise refinancing and downturn vulnerability
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

Establishment Labs Holdings Inc. (NASDAQ: ESTA) is a leading player in the medical technology sector, specializing in innovative solutions for breast aesthetics and reconstruction. The company is primarily recognized for its flagship product, Motiva, which emphasizes safety, efficacy, and user experience in breast augmentation. As the market undergoes a transformation towards less invasive techniques, Establishment Labs is strategically positioned to capitalize on this growing trend, leveraging its robust research and development pipeline alongside a significant intellectual property portfolio.

Bull says

  • ↑Q1 revenue $59.9M (+45% YoY); US sales +216% to $19.6M
  • ↑Adjusted EBITDA of $1.2M with 70.7% gross margin and $68.1M cash
  • ↑Preserve minimally invasive platform generated $9.1M in Q1; >$35M guidance for 2026
  • ↑Full-year revenue guidance raised to $266.5–268.5M from prior $264–266M
  • ↑Strong institutional interest and positive analyst revisions support momentum
  • ↑Upward price momentum suggests continued valuation appreciation

Bear says

  • ↓Elevated debt levels raise refinancing and downturn vulnerability
  • ↓Negative earnings yield and weak profitability reflect ongoing loss generation
  • ↓Management warns on geopolitical tensions impacting international operations
  • ↓Market saturation and execution risks as competitors intensify efforts
  • ↓Hedge fund dumping $6.6M in shares signals investor skepticism
  • ↓High sensitivity to interest rates may pressure refinancing costs

Investment themes with ESTA

Health Care Equipment & Supplies↑ +0.40%

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Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 05-10-2026neutral

Transcript signals

Bull points

  • Q1 2026 was a strong start to the year with $59.9 million in revenue and adjusted EBITDA of $1.2 million, representing revenue growth of 45% over Q1 2025.
  • $19.6 million of revenue, a growth of 216% over Q1 2025 and quarter-over-quarter growth of 13.3%.
  • $9.1 million in revenue in Q1.

Bear points

  • SG&A expenses increased $3.9 million to $43.6 million compared to $39.7 million in the first quarter of 2025. The increase was primarily driven by variable costs associated with higher sales, including freight, as well as the impact of foreign exchange with continued investment in the U.S. business.
  • During the quarter, cash decreased $7.5 million to $68.1 million from December 31, 2025. The decrease was primarily driven by investments in the U.S. market.
  • In the near term, we expect higher cash usage in the second quarter compared to the first quarter, primarily due to the final $4.7 million payment related to the Benelux acquisition, the normal timing of the short-term incentive payouts, and continued investment to support the U.S. commercial expansion, partially offset by $6 million of proceeds from our recent debt refinancing.
Read full transcript analysis ›