ESTA on Nasdaq

ESTABLISHMENT LABS HOLDINGS INC.

We are a global medical technology company focused on improving patient safety and aesthetic outcomes, initially in the breast aesthetics and reconstruction market.4 From its latest annual report

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Last updated Oct 19, 2026.

Overview

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  • TickerESTA on Nasdaq2
  • IndustryOrthopedic, Prosthetic & Surgical Appliances & Supplies2
  • HeadquartersAlajuela, Costa Rica2
  • Incorporated inVirgin Islands, British3
  • Business addressBuilding B15 And 25 Coyol Free Zone, Alajuela, G2 201013
  • Filer categoryLarge accelerated filer3
  • Legal formCorporation2
  • LEI549300BCBQ714JNJ7V582
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressPO Box 3140, VG1110 Road Town, British Virgin Islands2

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We are a global medical technology company focused on improving patient safety and aesthetic outcomes, initially in the breast aesthetics and reconstruction market. We initially incorporated in Costa Rica in 2004 and subsequently reorganized in 2013 under a parent holding company in the British Virgin Islands.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

69.3%Gross margin5
-18.5%Operating margin5
-24.2%Net margin5
27.1%Revenue growth, 20255
-216.9%Return on equity5
10.51×Debt to equity5
-$56.9MFree cash flow5

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue25¢$64.8M
  • Research and development8¢$20.2M
  • Selling, general and admin64¢$165.1M
  • Income tax3¢$7.0M

Out of $211.1M in revenue.5 The company lost money this year.

Financial statements

Revenue67895$211.1M in 2025+136% since 2019
0$100.0M$200.0M$300.0M2019: $89.6M$89.6M20192020: $84.7M$84.7M2020−5%2021: $126.7M$126.7M2021+50%2022: $161.7M$161.7M2022+28%2023: $165.2M$165.2M2023+2%2024: $166.0M$166.0M2024+1%2025: $211.1M$211.1M2025+27%
Gross profit67895$146.3M in 2025+167% since 2019
0$50.0M$100.0M$150.0M2019: $54.9M$54.9M20192020: $52.5M$52.5M2020−4%2021: $85.4M$85.4M2021+63%2022: $106.6M$106.6M2022+25%2023: $107.0M$107.0M2023+0%2024: $109.5M$109.5M2024+2%2025: $146.3M$146.3M2025+34%
Operating income67895-$39.0M in 2025+26% since 2019
-$80.0M-$60.0M-$40.0M-$20.0M02019: -$30.9M-$30.9M20192020: -$27.9M-$27.9M2020−10%2021: -$25.1M-$25.1M2021−10%2022: -$39.7M-$39.7M2022+58%2023: -$65.0M-$65.0M2023+64%2024: -$50.0M-$50.0M2024−23%2025: -$39.0M-$39.0M2025−22%
Net income67895-$51.1M in 2025+34% since 2019
-$100.0M-$75.0M-$50.0M-$25.0M02019: -$38.1M-$38.1M20192020: -$38.1M-$38.1M2020−0%2021: -$41.1M-$41.1M2021+8%2022: -$75.2M-$75.2M2022+83%2023: -$78.5M-$78.5M2023+4%2024: -$84.6M-$84.6M2024+8%2025: -$51.1M-$51.1M2025−40%
Fiscal year2019202020212022202320242025
Revenue$89.6M6$84.7M7$126.7M8$161.7M9$165.2M5$166.0M5$211.1M5
Cost of revenue$34.7M6$32.2M7$41.3M8$55.1M9$58.2M5$56.5M5$64.8M5
Gross profit$54.9M6$52.5M7$85.4M8$106.6M9$107.0M5$109.5M5$146.3M5
Research and development$15.0M6$13.8M7$18.3M8$20.3M9$26.4M5$19.7M5$20.2M5
Selling, general and admin$70.8M6$66.6M7$92.2M8$126.0M9$145.6M5$139.8M5$165.1M5
Operating expenses$110.5M8$146.3M9$172.0M5$159.5M5$185.3M5
Operating income-$30.9M6-$27.9M7-$25.1M8-$39.7M9-$65.0M5-$50.0M5-$39.0M5
Interest$8.7M6$9.4M7$9.1M8$11.8M8$15.4M8
Income before tax-$39.7M8-$72.8M9-$78.6M5-$84.6M5-$58.0M5
Income tax$640.0K6$104.0K7$1.4M8$2.4M9-$81.0K5-$32.0K5-$7.0M5
Net income-$38.1M6-$38.1M7-$41.1M8-$75.2M9-$78.5M5-$84.6M5-$51.1M5
Earnings per share-$1.866-$1.637-$1.728-$3.089-$3.075-$3.005-$1.725
Earnings per share (diluted)-$1.866-$1.637-$1.728-$3.089-$3.075-$3.005-$1.725
Shares (weighted, basic)24.0M shares824.5M shares925.6M shares528.2M shares529.6M shares5
Shares (weighted, diluted)24.0M shares824.5M shares925.6M shares528.2M shares529.6M shares5

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Leadership

Who has led ESTABLISHMENT LABS HOLDINGS INC., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Quiros Juan Jose Chacon2018–2024
  2. Filippo Caldini2025–now

President

  1. Filippo Caldini2024

Chief financial officer

  1. Renee Gaeta2018–2021
  2. Raj Denhoy2021–2026
  3. Cassandra Harris2026–now

Chief operating officer

  1. Santos Salvador Dada2018–2021
  2. Paul D. Rodio2022–2023
20202025
Board members and other officers (16)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive Officer, DirectorJuan Jose Chacon-Quiros named Jan 24, 202436
  • Executive OfficerRoss Mansbach named Jan 24, 202436

Timeline

  1. Mar 20, 2025New chief executive Filippo Caldini becomes CEO13
  2. Jul 18, 2018New chief executive Quiros Juan Jose Chacon becomes CEO14

Filings

347 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 63 major events, 201 insider forms, 31 large holders, 1 private raises, 31 other. The latest 20:

  1. Oct 15, 20268-K EDGAR
  2. Oct 2, 20264 EDGAR
  3. Oct 2, 20264 EDGAR
  4. Oct 2, 20264 EDGAR
  5. Oct 2, 20264 EDGAR
  6. Oct 2, 20264 EDGAR
  7. Aug 26, 20264 EDGAR
  8. Aug 7, 202610-Q EDGAR
  9. Aug 6, 20268-K EDGAR
  10. Jul 31, 2026SCHEDULE 13G EDGAR
  11. Jul 28, 2026SCHEDULE 13G EDGAR
  12. Jul 10, 20264 EDGAR
  13. Jul 10, 20264 EDGAR
  14. Jul 1, 20264 EDGAR
  15. Jul 1, 20264 EDGAR
  16. Jul 1, 20264 EDGAR
  17. Jul 1, 20264/A EDGAR
  18. Jul 1, 20264 EDGAR
  19. Jul 1, 20264 EDGAR
  20. Jun 29, 20264 EDGAR

The 347 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

43 open-market trades by officers, directors and large owners since October 2021: 18 buys and 25 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 28, 2026JW Partners, LPSale65,100$72.89$4.7MForm 4
May 27, 2026JW Partners, LPSale113$72.50$8.2KForm 4
May 26, 2026JW Partners, LPSale25,320$74.39$1.9MForm 4
May 21, 2026JW GP, LLCSale16,999$71.40$1.2MForm 4
May 20, 2026JW GP, LLCSale3,580$70.56$252.6KForm 4
May 6, 2026Chacon Quiros Juan JoseDirectorSale105,000$75.42$7.9MForm 4
May 6, 2026JW Asset Management, LLCSale60,000$75.63$4.5MForm 4
May 4, 2026Chacon Quiros Juan JoseDirectorSale7,751$70.48$546.3KForm 4
May 1, 2026Chacon Quiros Juan JoseDirectorSale67,249$70.78$4.8MForm 4
Apr 27, 2026Chacon Quiros Juan JoseDirectorSale2,180$66.26$144.4KForm 4
Apr 24, 2026Chacon Quiros Juan JoseDirectorSale30,178$65.78$2.0MForm 4
Apr 23, 2026Chacon Quiros Juan JoseDirectorSale42,642$65.43$2.8MForm 4
Apr 14, 2026Chacon Quiros Juan JoseDirectorSale37,500$65.23$2.4MForm 4
Mar 25, 2026Chacon Quiros Juan JoseDirectorSale3,575$60.08$214.8KForm 4
Mar 23, 2026Chacon Quiros Juan JoseDirectorSale33,925$60.39$2.0MForm 4
Nov 10, 2025JW Opportunities Fund, LLCSale11,000$67.07$737.8KForm 4
Nov 7, 2025JW Asset Management, LLCSale2,500$65.09$162.7KForm 4
Nov 6, 2025Wild Jason G.Sale7,591$65.00$493.4KForm 4
Aug 14, 2025LEWIN NICHOLAS SHERIDANDirectorBuy2,600$37.85$98.4KForm 4
Aug 13, 2025LEWIN NICHOLAS SHERIDANDirectorBuy2,300$34.30$78.9KForm 4

All 43 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Jan 9, 2024Raised $50 million in a private offering of equity Form D: 10 investors so far Form D

Sources

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