Integer Holdings Corp 2025年季度报告

QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Smallerreportingcompany☐Emerging growth company☐If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒The number of shares outstanding of the Company’s common stock, $0.001 par value per share, as of April18, 2025 was: PART I—FINANCIAL INFORMATION ITEM 1.Financial StatementsCondensed Consolidated Balance Sheets (Unaudited) Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited)Condensed Consolidated Statements of Cash Flows (Unaudited) Quantitative and Qualitative Disclosures About Market Risk ITEM 5.Other InformationITEM 6.Exhibits SIGNATURES- 2 - As discussed in Note 3, “Discontinued Operations,” during 2024 the Company sold Electrochem Solutions, Inc. (“Electrochem”).Electrochem met the criteria to be reported as held for sale and discontinued operations. The results of operations of the Electrochem business are classified as discontinued operations and are excluded from continuing operations for all periods presented. Intersegmentsales to Electrochem that were previously eliminated in consolidation have been treated as third party sales and are included in salesfrom continuing operations as the Company will continue to supply the Electrochem business with certain specified productsfollowing its divestiture. The Condensed Consolidated Statements of Cash Flows include cash flows related to the discontinued presented to exclude information pertaining to discontinued operations, unless otherwise noted specifically as discontinued operations,and reflect only the continuing operations of the Company.Factoring Arrangements 2024, the Company sold accounts receivable of $58.1million and $57.6million, respectively, and recorded factoring fees of$0.4millionand $0.4million, respectively.Supplier Financing ArrangementsThe Company utilizes supplier financing arrangements with financial institutions to sell certain accounts receivable on a non-recourse recorded costs associated with the supplier financing arrangements of $0.5million and $0.5million, respectively. - 7 - (1.)BASIS OF PRESENTATION (Continued) pronouncements issued by the Financial Accounting Standards Board (“FASB”), SEC, or other authoritative accounting bodies todetermine the potential impact they may have on the financial position, results of operations or cash flows of the Company. Other than those discussed below, management does not expect any of the recently issued accounting pronouncements, which have not alreadybeen adopted, to have a material effect on the financial position, results of operations or cash flows of the Company.Accounting Guidance Adopted During the Period of Convertible Debt Instruments. The ASU clarifies the assessment of whether certain settlements of convertible debt instrumentsshould be accounted for as an inducement conversion or extinguishment of convertible debt. The ASU is effective for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods, with early adoptionpermitted. The Company adopted this ASU as of January 1, 2025. At adoption, there were no impacts to the condensed consolidatedfinancial statements.Accounting Guidance to be Adopted in Future Periods currently evaluating the impact that the adoption of this ASU will have on its condensed consolidated financial statements. (2.)BUSINESS ACQUISITIONS acquisition, Precision was a privately-held manufacturer specializing in high value surface coating technology platforms, includingfluoropolymer, anodic coatings, ion treatment solutions and laser processing. Based in Massachusetts, Precision has additional locations in the New England area and an additional facility in Costa Rica. The total consideration transferred was $153.5million, including contingent consideration, working capital and other purchase priceadjustments. The Company recorded contingent consideration with an estimated acquisition date fair value of $1.4million,representing the Company’s obligation, under the purchase agreement, to make an additional payment of up to $5.0million based on aspecified revenue growth milestone being met in 2025. The Company funded the purchase price with borrowings under its Revolving VSi Parylene AcquisitionOn February 28, 2025, the Company acquired substantially all of the assets and assumed certain liabilities of Vertical Solutions, Inc., d/b/a VSi Parylene (“VSi”). Headquartered in Colorado, prior to the acquisition VSi was a privately-held full-service provider ofparylene coating solutions, primarily focused on complex medical device applications.The total consideration transferred was $24.0million, including shares of Integer’s common stock (“Common Stock”) with a fa