LIVN · LivaNova PLC

LivaNova PLC delivered strong Q1 2026 results with total revenue of $362.3 million, reflecting 14.3% reported growth and 11.1% constant-currency growth over the prior year, exceeding expectations through balanced performance across segments. Cardiopulmonary led with $208.7 million in revenue, up 18.3% reported and 14.0% constant-currency, fueled by sales of the Essenz Perfusion System, robust consumables demand, and favorable pricing across all regions. Neuromodulation contributed $151.8 million, growing 9.3% reported and 7.6% constant-currency, supported by increased implant volumes and pricing gains. Adjusted operating income rose to $71.1 million from $64.6 million, while adjusted diluted EPS improved to $0.98 from $0.88, demonstrating operational leverage despite GAAP operating income dipping to $41.5 million from $48.6 million. CEO Vladimir Makatsaria highlighted double-digit growth in core Cardiopulmonary and Epilepsy businesses, alongside progress in Obstructive Sleep Apnea (OSA) with FDA premarket approval for the aura6000 System—the first hypoglossal nerve stimulation device without contraindications for complete concentric collapse and no pre-implantation endoscopy requirement—positioning entry into a high-growth, high-margin market. In April 2026, 12-month OSPREY trial results published in Annals of Internal Medicine validated sustained clinical benefits of proximal hypoglossal nerve stimulation. Reflecting confidence, the company raised full-year 2026 constant-currency revenue growth guidance by 100 basis points to 7.0%-8.0%, adjusted diluted EPS midpoint by $0.05 to $4.20-$4.30 (assuming ~56 million shares), and maintained adjusted free cash flow at $160-$180 million. Foreign currency provides a ~1.0% tailwind. These updates underscore disciplined execution and strategic investments for long-term growth as outlined at the November 2025 Investor Day.