LivaNova PLC (NASDAQ:LIVN) reported fourth-quarter results that exceeded analyst expectations, driven by strong performance across its key business segments.
The medical technology company posted adjusted earnings per share of $0.86, ahead of the consensus estimate of $0.81. Revenue totaled $360.9 million, beating forecasts of $353.23 million and rising 12.1% year on year, or 9.5% on an organic basis.
Shares edged 0.22% higher in after-hours trading following the results announcement.
Fourth-quarter revenue increased across both of LivaNova’s main divisions. Cardiopulmonary revenue rose 13.7% to $206.6 million, supported by robust demand for consumables and continued sales of the Essenz Perfusion System.
Neuromodulation revenue grew 11.0% to $152.7 million, with expansion recorded across all geographic regions. “In 2025, LivaNova delivered double-digit revenue growth, meaningful operating margin expansion, and robust cash generation, reflecting strong execution in both our Cardiopulmonary and Epilepsy businesses,” said Chief Executive Officer Vladimir Makatsaria.
For full-year 2026, LivaNova guided adjusted diluted earnings per share in the range of $4.15 to $4.25, with the midpoint of $4.20 slightly above analyst consensus expectations of $4.13.
The company expects revenue growth of between 6.0% and 7.0% on a constant-currency basis.
LivaNova also benefited from higher provider reimbursement levels from the U.S. Centers for Medicare & Medicaid Services for VNS Therapy procedures used to treat drug-resistant epilepsy, effective January 1, 2026. Hospital outpatient payments increased approximately 48% for new patient implants and 47% for end-of-service procedures compared with 2025 rates. The company additionally secured FDA approval for its cloud-based digital health platform.
For full-year 2025, revenue reached $1.39 billion, up 10.7% year on year. Adjusted diluted earnings per share rose to $3.90 from $3.38 in the prior year. Operating cash flow totaled $254.3 million, while adjusted free cash flow came in at $183.3 million.