Establishment Labs Holdings, Inc. (ESTA)

Establishment Labs experienced several stock events in the past six months. Strong Q3 2025 results, including positive Adjusted EBITDA and raised revenue guidance, positively impacted the stock. The company achieved approximately 20% of the U.S. breast augmentation market share by year-end 2025. A PMA supplement submission for Motiva implants in reconstruction is expected to expand the market. Peter Caldini was appointed CEO. The share price increased significantly, and short interest decreased. Analysts have a 'Strong Buy' consensus rating.

There is evidence of demand seasonality for Establishment Labs' products, with Q3 generally being a slower quarter and Q4 the strongest for breast augmentation. Despite Q3 being seasonally slower, the company still showed a 16% sequential increase in the U.S. market, indicating that strong market penetration can mitigate the impact of seasonality.

Establishment Labs Holdings, Inc. is a global medical technology company focused on women's health, specifically in breast aesthetics and reconstruction. They design, develop, manufacture, and market silicone-filled breast and body-shaping implants. Their flagship product line is Motiva Implants, known for features like gravity-sensitive silicone gel and TrueMonobloc shell. Other products include Mia Femtech, Motiva Flora Tissue Expander, and Preservé.

Establishment Labs has a global reach, distributing products in over 90 countries. Manufacturing is based in Alajuela, Costa Rica. Revenue is segmented geographically, with significant contributions from EMEA (35.6%), the United States (22.1%), Latin America (21.7%), and Asia-Pacific (20.6%) in Q3 2025. The company uses direct sales and medical distributors.

Establishment Labs' brand reputation is strong, influenced by product innovation, safety, and market penetration. Motiva Implants are known for safety and low complication rates. The company's rapid U.S. market share capture demonstrates market acceptance. Achieving positive Adjusted EBITDA and record gross margins contributes to a positive brand image.

Establishment Labs is a publicly held company trading on the Nasdaq. Institutional investors hold approximately 72.91% of the stock, with major holders including JW Asset Management and RTW Investments, Lp. Insider ownership is at 11.09% or 19.79%, with key individual owners being Juan Jose Chacon-Quiros and Nicholas Sheridan Lewin. Retail and other investors hold the remaining float.