Financial Analysis

BUSINESS ACQUISITIONS 2025 Acquisitions Precision Coating LLC Acquisition On January 7, 2025, the Company acquired substantially all of the assets and assumed certain liabilities of certain subsidiaries of Katahdin Industries, Inc., including its main operating subsidiary, Precision Coating LLC (collectively Precision). Prior to the acquisition, Precision was a privately-held manufacturer specializing in high value surface coating technology platforms, including fluoropolymer, 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 $153.5 million, including contingent consideration, working capital and other purchase price adjustments. The Company recorded contingent consideration with an estimated acquisition date fair value of $1.4 million, representing the Companys obligation, under the purchase agreement, to make an additional payment of up to $5.0 million based on a specified revenue growth milestone being met in 2025. The Company funded the cash portion of the purchase price with borrowings under its Revolving Credit Facility. VSi Parylene Acquisition On 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 pr …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

COMMITMENTS AND CONTINGENCIES Contingent Consideration Arrangements The Company records contingent consideration liabilities related to the earn-out provisions for certain acquisitions. See Note 18, Financial Instruments and Fair Value Measurements, for additional information. Litigation On December 10, 2025, a putative class action lawsuit was filed in the United States District Court for the Southern District of New York against Integer and certain of its executives, captioned West Palm Beach Firefighters Pension Fund v. Integer Holdings Corporation, et al. (the Securities Action). The complaint in the lawsuit alleges violations of the securities laws in the companys public disclosures. The complaint seeks monetary damages, costs and attorneys fees, and other unspecified relief. Defendants deadline to respond to the complaint is currently stayed pending the appointment of a lead plaintiff and lead counsel. Integer denies any wrongdoing and intends to vigorously defend itself against the claims in the Securities Action. In addition, the Company is subject to litigation arising from time to time in the ordinary course of its business. The Company does not expect that the ultimate resolution of any pending legal actions will have a material effect on its consolidated results of operations, financial position, or cash flows. However, litigation is subject to inherent uncertainties. As such, there can be no assurance that any pending legal action will not become material in the …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

DEBT Long-term debt comprises the following (in thousands): December 31, 2025 December 31, 2024 Principal Amount Discounts and Deferred Issuance Costs Net Carrying Amount Principal Amount Discounts and Deferred Issuance Costs Net Carrying Amount Senior Secured Credit Facilities: Revolving credit facilities $ $ $ $ 126,000 $ $ 126,000 Term loan A 91,000 (221) 90,779 375,000 (1,302) 373,698 2028 Convertible Notes 116,284 (1,542) 114,742 499,994 (9,539) 490,455 2030 Convertible Notes 1,000,000 (20,342) 979,658 Total $ 1,207,284 $ (22,105) $ 1,185,179 $ 1,000,994 $ (10,841) $ 990,153 Current portion of long-term debt (10,000) Long-term debt $ 1,185,179 $ 980,153 In September 2021, the Company entered into a credit agreement (the 2021 Credit Agreement), governing the Companys senior secured credit facilities (the Senior Secured Credit Facilities). As of December 31, 2025, the Senior Secured Credit Facilities consists of a revolving credit facility (the Revolving Credit Facility) and a term A loan (the TLA Facility). In February 2023, the Company issued $500 million aggregate principal amount of 2.125% Convertible Senior Notes due in 2028 (the 2028 Convertible Notes). In March 2025, the Company issued $1.0 billion aggregate principal amount of 1.875% Convertible Senior Notes due in 2030 (the 2030 Convertible Notes). Senior Secured Credit Facilities Revolving Credit Facility The Revolving Credit Facility matures on February 15 , 2028 . As of December 31, 2025, the Company had availa …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

STOCK-BASED COMPENSATION Stock-based Compensation Plans The Company maintains certain stock-based compensation plans that were approved by the Companys stockholders and are administered by the Board of Directors (the Board) or the Compensation and Organization Committee of the Board (the Compensation Committee). The stock-based compensation plans provide for the granting of stock options, restricted stock awards, RSUs, performance awards, stock appreciation rights and stock bonuses to employees, non-employee directors, consultants, and service providers. As of December 31, 2025, the Companys outstanding stock-based compensation plans and agreements include the 2021 Omnibus Incentive Plan (the 2021 Plan), 2016 Stock Incentive Plan (the 2016 Plan), 2011 Stock Incentive Plan (the 2011 Plan), the 2009 Stock Incentive Plan (the 2009 Plan). The 2021 Plan replaced the 2016 Plan and the Company ceased granting any new awards under the 2016 Plan. The number of shares initially reserved for issuance under the 2021 Plan was (i) 1,450,000 plus (ii) the total number of shares of common stock available for issuance under the 2016 Plan, plus (iii) any shares of common stock that are subject to awards forfeited, cancelled, expired, terminated or otherwise lapsed or settled in cash, in whole or in part, without the delivery of shares under the 2016 Plan. The 2011 Plan and 2009 Plan have expired and no awards are available for issuance under these expired plans. As of December 31, 2025, there …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS Assets and Liabilities Measured at Fair Value on a Recurring Basis Fair value measurement standards apply to certain financial assets and liabilities that are measured at fair value on a recurring basis (each reporting period). For the Company, these financial assets and liabilities include its derivative instruments and contingent consideration. The Company does not have any nonfinancial assets or liabilities that are measured at fair value on a recurring basis. The Company is exposed to global market risks, including the effect of changes in interest rates and foreign currency exchange rates, and uses derivatives to manage these exposures that occur in the normal course of business. The Company does not hold or issue derivatives for trading or speculative purposes. All derivatives are recorded at fair value on the Consolidated Balance Sheets. The following tables provide information regarding assets and liabilities recorded at fair value on a recurring basis (in thousands): Fair Value Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) December 31, 2025 Assets: Foreign currency hedging contracts $ 5,221 $ $ 5,221 $ Liabilities: Contingent consideration 8,179 8,179 December 31, 2024 Liabilities: Foreign currency hedging contracts $ 6,482 $ $ 6,482 $ Liabilities: Contingent consideration 904 904 Derivatives Designated as Hedging Instruments Foreign C …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

GOODWILL AND OTHER INTANGIBLE ASSETS, NET See Note 2, Business Acquisitions, for a further description of the goodwill and intangible assets resulting from the Companys acquisitions. Goodwill The changes in the carrying amount of goodwill during the years ended December 31, 2025 and 2024 was as follows (in thousands): Total December 31, 2023 $ 994,007 Pulse acquisition (Note 2) 38,094 Pulse acquisition-related adjustments (Note 2) (36) InNeuroCo acquisition-related adjustments (Note 2) (1,547) Foreign currency translation (12,789) December 31, 2024 1,017,729 2025 acquisitions (Note 2) 67,096 Precision and VSi acquisition-related adjustments (Note 2) (664) Foreign currency translation 26,747 December 31, 2025 $ 1,110,908 As of December 31, 2025, no accumulated impairment loss has been recognized for the Companys goodwill. Intangible Assets Intangible assets comprise the following (in thousands): Gross Carrying Amount Accumulated Amortization Net Carrying Amount December 31, 2025 Definite-lived: Purchased technology and patents $ 329,690 $ (228,469) $ 101,221 Customer relationships 957,239 (334,989) 622,250 Amortizing tradenames and other 20,083 (8,407) 11,676 Total amortizing intangible assets $ 1,307,012 $ (571,865) $ 735,147 Indefinite-lived: Trademarks and tradenames $ 90,288 December 31, 2024 Definite-lived: Purchased technology and patents $ 293,164 $ (204,591) $ 88,573 Customer relationships 870,692 (284,104) 586,588 Amortizing tradenames and other 20,002 (7,165) 12,837 …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

INCOME TAXES Income from continuing operations before income taxes consisted of the following (in thousands): 2025 2024 2023 U.S. $ 35,980 $ 55,571 $ 29,089 Foreign 89,416 91,992 76,293 Total income from continuing operations before income taxes $ 125,396 $ 147,563 $ 105,382 The provision for income taxes from continuing operations comprises the following (in thousands): 2025 2024 2023 Current: Federal $ 5,876 $ 18,309 $ 11,072 State 1,901 1,655 1,292 Foreign 17,476 19,476 13,140 25,253 39,440 25,504 Deferred: Federal (2,448) (9,456) (7,262) State (290) (245) (132) Foreign 51 (3,229) (1,871) (2,687) (12,930) (9,265) Total provision for income taxes $ 22,566 $ 26,510 $ 16,239 (13.) INCOME TAXES (Continued) The provision for income taxes from continuing operations differs from the U.S. statutory rate due to the following: 2025 2024 2023 US federal statutory tax rate $ 26,333 21.0 % $ 30,988 21.0 % $ 22,130 21.0 % Domestic federal Tax credits R&D tax credits (7,523) (6.0) % (5,380) (3.6) % (4,465) (4.2) % Foreign tax credit (558) (0.4) % (463) (0.3) % (572) (0.5) % Nontaxable or nondeductible items Tax benefits on share-based payments (5,843) (4.7) % (2,519) (1.7) % (375) (0.4) % Nondeductible covered employee compensation 5,637 4.5 % 4,025 2.7 % 2,222 2.1 % Nondeductible convertible debt inducement expense 9,277 7.4 % % % Other 219 0.2 % (446) (0.3) % 205 0.2 % Effect of cross-border tax laws GILTI, net of GILTI FTC 1,879 1.5 % 2,614 1.8 % 2,224 2.1 % Foreign-derived intang …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

LEASES The components and classification of lease cost for the years ended December 31, 2025, 2024 and 2023 are as follows (in thousands): 2025 2024 2023 Finance lease cost: Amortization of lease assets $ 4,717 $ 2,575 $ 1,367 Interest on lease liabilities 1,827 845 321 Finance lease cost 6,544 3,420 1,688 Operating lease cost 15,760 14,076 13,920 Short-term lease cost (leases with initial term of 12 months or less) 421 257 305 Variable lease cost 4,594 3,071 2,994 Sublease income (1,431) (929) (904) Total lease cost $ 25,888 $ 19,895 $ 18,003 Cost of sales $ 19,976 $ 15,566 $ 13,339 SG&A 3,514 2,991 3,028 RD&E 186 403 929 Restructuring and other charges 385 90 386 Interest expense $ 1,827 $ 845 $ 321 Total lease cost $ 25,888 $ 19,895 $ 18,003 The Companys sublease income is derived primarily from certain real estate leases to several non-affiliated tenants under operating sublease arrangements. Supplemental cash flow information related to leases for the years ended December 31, 2025, 2024 and 2023 is as follows (in thousands): 2025 2024 2023 Cash paid for operating leases $ 14,167 $ 12,557 $ 13,751 Cash paid for interest on finance leases 1,827 845 320 Assets acquired under operating leases 13,564 13,384 17,526 Assets acquired under finance leases 13,860 18,300 4,085 At December 31, 2025, the maturities of operating and finance lease liabilities were as follows (in thousands): Operating Leases Finance Leases 2026 $ 14,055 $ 9,434 2027 14,060 9,123 2028 13,589 7,879 …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Recent Accounting Pronouncements In the normal course of business, management evaluates all new Accounting Standards Updates (ASU) and other accounting pronouncements issued by the Financial Accounting Standards Board (FASB), Securities and Exchange Commission (SEC), or other authoritative accounting bodies to determine the potential impact they may have on the Companys Consolidated Financial Statements. Other than those discussed below, management does not expect any of the recently issued accounting pronouncements, which have not already been adopted, to have a material impact on the Companys Consolidated Financial Statements. Accounting Guidance Adopted During the Period In November 2024, the FASB issued ASU 2024-04, Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments . The ASU clarifies the assessment of whether certain settlements of convertible debt instruments should 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 adoption permitted. The Company adopted this ASU as of January 1, 2025. At adoption, there were no impacts to the condensed consolidated financial statements. See Note 9, Debt, for further detail. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740)-Improvements to Income Tax Disclosure …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

BENEFIT PLANS Savings Plan The Company sponsors a defined contribution 401(k) plan (the Plan) for its U.S. based employees. The Plan provides for the deferral of employee compensation under Internal Revenue Code 401(k) and a Company match. The Company matches $0.50 per dollar of each participants deferral made to the Plan up to 6% of their compensation, subject to Internal Revenue Service guidelines. Contributions from employees, as well as those matched by the Company, vest immediately. Net costs related to defined contribution plans for 2025, 2024 and 2023 were $12.0 million, $10.8 million and $9.5 million, respectively. Defined Benefit Plans The Company is required to provide its employees located in Switzerland and Mexico certain statutorily mandated defined benefits. Under these plans, benefits accrue to employees based upon years of service, position, age and compensation. The defined benefit pension plan provided to the Companys employees located in Switzerland is a funded contributory plan, while the plans that provide benefits to the Companys employees located in Mexico are unfunded and noncontributory. The assets of the Switzerland plan are held at an AA- rated insurance carrier who bears the pension risk and longevity risk, and will be used to cover the pension liability for the remaining retirees of the Swiss plan, as well as the remaining employees at that location. The liability and corresponding expense related to these benefit plans is based on actuarial compu …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

REVENUE FROM CONTRACTS WITH CUSTOMERS Disaggregated Revenue The Company operates as one segment, which is separated into three distinct product lines. Sales by product line were as follows (in thousands): 2025 2024 2023 Cardio & Vascular $ 1,107,084 $ 949,576 $ 836,343 Cardiac Rhythm Management & Neuromodulation 668,803 660,610 612,891 Other Markets 77,750 106,410 106,422 Total sales $ 1,853,637 $ 1,716,596 $ 1,555,656 A significant portion of the Companys sales for the years ended December 31, 2025, 2024 and 2023 and accounts receivable at December 31, 2025 and December 31, 2024 were to three customers as follows: Sales Accounts Receivable 2025 2024 2023 December 31, 2025 December 31, 2024 Customer A 20% 18% 16% 19% 10% Customer B 15% 16% 17% 9% 9% Customer C 14% 13% 13% 10% 14% 49% 47% 46% 38% 33% Revenue recognized from products and services transferred to customers over time during 2025 and 2024 represented 33% and 32%, respectively, of total revenue. Contract Balances The opening and closing balances of the Companys contract assets and contract liabilities are as follows (in thousands): December 31, 2025 December 31, 2024 Contract assets $ 112,546 $ 103,772 Contract liabilities (included in Accrued expenses and other current liabilities) 5,213 4,440 Contract liabilities (included in Other long-term liabilities) 3,265 4,398 Contract assets at December 31, 2025 increased $8.8 million from December 31, 2024 primarily due to changes in the mix of inventory and associ …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

"SEGMENT AND GEOGRAPHIC INFORMATION The Company operates as one operating segment. The Company's chief operating decision maker (""CODM"") is its President and Chief Executive Officer, who reviews financial information presented on a consolidated basis. The CODM uses consolidated income from continuing operations to make key operating decisions, including resource allocations and performance assessments. Selected financial information with respect to the Companys single operating segment was as follows (in thousands). 2025 2024 2023 Sales $ 1,853,637 $ 1,716,596 $ 1,555,656 Cost of sales 1,353,251 1,257,582 1,145,767 Gross profit 500,386 459,014 409,889 Operating expenses: Selling, general and administrative 211,748 185,202 173,171 Research, development and engineering 49,499 53,425 61,967 Restructuring and other charges 17,875 12,149 11,428 Total operating expenses 279,122 250,776 246,566 Operating income 221,264 208,238 163,323 Interest expense 43,206 56,374 51,275 (Gain) loss on equity investments, net (550) 780 5,691 Other loss, net 53,212 3,521 975 Income from continuing operations before income taxes 125,396 147,563 105,382 Provision for income taxes 22,566 26,510 16,239 Income from continuing operations $ 102,830 $ 121,053 $ 89,143 See the consolidated financial statements for other financial information regarding the Companys operating segment. Sales, allocated based on where the products are shipped, by significant country were as follows (in thousands): 2025 2024 20 …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Integer Holdings Corporation (together with its consolidated subsidiaries, Integer or the Company) is a publicly traded corporation listed on the New York Stock Exchange under the symbol ITGR. Integer is one of the worlds largest medical device contract development and manufacturing organizations, primarily serving the cardio and vascular, neuromodulation, and cardiac rhythm management markets. The Companys primary customers include large, multi-national original equipment manufacturers (OEMs) and their affiliated subsidiaries. Basis of Presentation and Principles of Consolidation The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) and include the accounts of Integer Holdings Corporation and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Unless otherwise indicated, amounts provided in these Notes pertain to continuing operations. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of sales and expenses during the reporting periods. Actual results could differ materially from those estimates. Cash and Cash Equivalents …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

STOCKHOLDERS EQUITY Common Stock The following is a summary of the number of shares of common stock issued and outstanding for the years ended December 31, 2025 and December 31, 2024: Issued Treasury Stock Outstanding December 31, 2023 33,329,648 33,329,648 Stock options exercised 23,981 23,981 Vested and settled RSUs and PRSUs, net of shares withheld to cover taxes 192,615 192,615 Stock issued upon conversion of convertible debt 18 18 Exercise of capped call upon conversion of convertible debt (6) (6) December 31, 2024 33,546,262 (6) 33,546,256 Stock options exercised 103,148 103,148 Vested and settled RSUs and PRSUs, net of shares withheld to cover taxes 246,144 246,144 Stock issued upon conversion of convertible debt 1,553,858 1,553,858 Repurchases of common stock (698,356) (698,356) Exercise of capped call upon conversion of convertible debt (436,993) (436,993) Stock issued for acquisition 32,393 32,393 December 31, 2025 35,481,805 (1,135,355) 34,346,450 Share Repurchase Program On November 4, 2025, the Company announced that its Board of Directors had approved a share repurchase program whereby the Company may from time to time repurchase on the open market, in privately-negotiated purchases, including accelerated repurchases, or otherwise, up to $200.0 million of its common stock (the Share Repurchase Program). The Share Repurchase Program has no expiration date and will continue until otherwise suspended or terminated. The Share Repurchase Program does not obligate the …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

SUBSEQUENT EVENTS Accelerated Share Repurchase On February 19, 2026, we entered into an accelerated share repurchase agreement (ASR Agreement) to repurchase approximately $50.0 million of common stock under our previously authorized Share Repurchase Program. Pursuant to the ASR Agreement, shares of common stock are repurchased based on the volume-weighted average price of the Companys common stock during the repurchase period, less a discount and subject to adjustments. Upon entry into the ASR Agreement, the Company received an initial delivery of 462,535 shares, representing approximately 80% of the shares to be repurchased. At the termination of the ASR Agreement, the Company may receive additional shares of common stock or may be required to pay additional cash or shares of common stock (at the Companys election). The final settlement of the transactions under the ASR Agreement is scheduled to occur in the Companys first fiscal quarter ending April 3, 2026, subject to earlier termination under certain limited circumstances, as set forth in the ASR Agreement. The Company used available cash and borrowings under our credit facility to fund the repurchase of the common shares under the ASR Agreement. After giving effect to the ASR Agreement, the Company will have approximately $100.0 million of capacity remaining under the Share Repurchase Program. …

SubsequentEventsTextBlock · excerpt; the full note is in the filing

BUSINESS ACQUISITIONS 2025 Acquisitions Precision Coating LLC Acquisition On January 7, 2025, the Company acquired substantially all of the assets and assumed certain liabilities of certain subsidiaries of Katahdin Industries, Inc., including its main operating subsidiary, Precision Coating LLC (collectively Precision). Prior to the acquisition, Precision was a privately-held manufacturer specializing in high value surface coating technology platforms, including fluoropolymer, anodic coatings, ion treatment solutions and laser processing. The total consideration transferred was $153.5 million, including contingent consideration, working capital and other purchase price adjustments. The Company recorded contingent consideration with an estimated acquisition date fair value of $1.4 million, representing the Companys obligation, under the purchase agreement, to make an additional payment of up to $5.0 million based on a specified revenue growth milestone being met in 2025. The revenue growth milestone for Precision was not met for 2025, and the Company determined that no additional consideration was required to be paid. VSi Parylene Acquisition On 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). Prior to the acquisition VSi was a privately-held full-service provider of parylene coating solutions, primarily focused on complex medical device applications. The total conside …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

COMMITMENTS AND CONTINGENCIES Contingent Consideration Arrangements The Company records contingent consideration liabilities related to the earn-out provisions for certain acquisitions. See Note 13, Financial Instruments and Fair Value Measurements for additional information. Litigation On December 10, 2025, a putative class action lawsuit was filed in the United States District Court for the Southern District of New York against Integer and certain of its executives, captioned West Palm Beach Firefighters Pension Fund v. Integer Holdings Corporation, et al. (the Securities Action). In March 2026, the court appointed Pembroke Pines Pension Fund for Firefighters and Police Officers as lead plaintiff and recaptioned the case as Pembroke Pines Pension Fund for Firefighters and Police Officers v. Integer Holdings Corporation. An amended complaint was subsequently filed on April 10, 2026. The amended complaint in the lawsuit alleges violations of the securities laws in the companys public disclosures. The amended complaint seeks monetary damages, costs and attorneys fees, and other unspecified relief. Defendants deadline to file a motion to dismiss the amended complaint is May 1, 2026. Integer denies any wrongdoing and intends to vigorously defend itself against the claims in the Securities Action. In addition, the Company is subject to litigation arising from time to time in the ordinary course of its business. The Company does not expect that the ultimate resolution of any pendi …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

DEBT Long-term debt comprises the following (in thousands): April 3, 2026 December 31, 2025 Principal Amount Unamortized Discounts and Issuance Costs Net Carrying Amount Principal Amount Unamortized Discounts and Issuance Costs Net Carrying Amount Senior Secured Credit Facilities: Revolving credit facilities $ 65,000 $ $ 65,000 $ $ $ Term loan A 91,000 (197) 90,803 91,000 (221) 90,779 2028 Notes 116,284 (1,369) 114,915 116,284 (1,542) 114,742 2030 Notes 1,000,000 (19,191) 980,809 1,000,000 (20,342) 979,658 Total $ 1,272,284 $ (20,757) $ 1,251,527 $ 1,207,284 $ (22,105) $ 1,185,179 Current portion of long-term debt Long-term debt $ 1,251,527 $ 1,185,179 The Companys debt structure includes senior secured credit facilities (the Senior Secured Credit Facilities), unsecured 2.125% Convertible Senior Notes due in 2028 (the 2028 Notes), and unsecured 1.875% Convertible Senior Notes due in 2030 (the 2030 Notes, and together with the 2028 Notes, the Convertible Notes). For additional details regarding the Companys debt financing, refer to Note 9, Debt of the Notes to Consolidated Financial Statements in the Companys Annual Report on Form 10-K for the year ended December 31, 2025. Senior Secured Credit Facilities In September 2021, the Company entered into a credit agreement (the 2021 Credit Agreement), governing the Senior Secured Credit Facilities. As of April 3, 2026, the Company maintained Senior Secured Credit Facilities consisting of a five-year $800 million revolving credit fac …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

STOCK-BASED COMPENSATION The Company maintains certain stock-based compensation plans that were approved by the Companys stockholders and are administered by the Board of Directors (the Board) or the Compensation and Organization Committee (the Compensation Committee) of the Board. The stock-based compensation plans provide for the granting of stock options, restricted stock awards, performance awards, time-based restricted stock units (RSUs), performance-based RSUs (PRSUs), stock appreciation rights and stock bonuses to employees, non-employee directors, consultants, and service providers. Stock-based Compensation Expense The classification of stock-based compensation expense was as follows (in thousands): Three Months Ended April 3, 2026 March 28, 2025 Cost of sales $ 1,408 $ 1,423 Selling, general and administrative 4,704 5,048 Research, development and engineering 335 380 Restructuring and other charges 215 29 Total stock-based compensation expense $ 6,662 $ 6,880 Modification of Awards On April 21, 2025, the Board approved a planned leadership succession under which Joseph W. Dziedzic, the Companys then President and Chief Executive Officer, continued in that role through October 24, 2025, transitioned to a non-executive special advisor role, and separated from the Company on March 31, 2026. In connection with his separation, and pursuant to an executive retirement agreement dated April 22, 2025, Mr. Dziedzic received retirement eligibility treatment for his outstanding …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS Assets and Liabilities Measured at Fair Value on a Recurring Basis Fair value measurement standards apply to certain financial assets and liabilities that are measured at fair value on a recurring basis (each reporting period). For the Company, these financial assets and liabilities include its derivative instruments and contingent consideration. The Company does not have any nonfinancial assets or liabilities that are measured at fair value on a recurring basis. The Company is exposed to global market risks, including the effect of changes in interest rates and foreign currency exchange rates, and may use derivatives to manage these exposures that occur in the normal course of business. The Company does not hold or issue derivatives for trading or speculative purposes. All derivatives are recorded at fair value on the Condensed Consolidated Balance Sheets. The following tables provide information regarding assets and liabilities recorded at fair value on a recurring basis (in thousands): Fair Value Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) April 3, 2026 Assets: Foreign currency hedging contracts $ 3,480 $ $ 3,480 $ Liabilities: Foreign currency hedging contracts 1,919 1,919 Liabilities: Contingent consideration 8,179 8,179 December 31, 2025 Liabilities: Foreign currency hedging contracts $ 5,221 $ $ 5,221 $ Liabilities: Contingent consider …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

GOODWILL AND OTHER INTANGIBLE ASSETS, NET Goodwill The changes in the carrying amount of goodwill for the three months ended April 3, 2026 were as follows (in thousands): Medical December 31, 2025 $ 1,110,908 Biocoat acquisition-related adjustments (Note 2) (10) Foreign currency translation (4,131) April 3, 2026 $ 1,106,767 Intangible Assets Intangible assets comprise the following (in thousands): Gross Carrying Amount Accumulated Amortization Net Carrying Amount April 3, 2026 Definite-lived: Purchased technology and patents $ 328,635 $ (232,600) $ 96,035 Customer lists 953,172 (344,555) 608,617 Amortizing tradenames and other 20,070 (8,675) 11,395 Total amortizing intangible assets $ 1,301,877 $ (585,830) $ 716,047 Indefinite-lived: Trademarks and tradenames $ 90,288 December 31, 2025 Definite-lived: Purchased technology and patents $ 329,690 $ (228,469) $ 101,221 Customer lists 957,239 (334,989) 622,250 Amortizing tradenames and other 20,083 (8,407) 11,676 Total amortizing intangible assets $ 1,307,012 $ (571,865) $ 735,147 Indefinite-lived: Trademarks and tradenames $ 90,288 Aggregate intangible asset amortization expense comprises the following (in thousands): Three Months Ended April 3, 2026 March 28, 2025 Cost of sales $ 4,837 $ 4,574 Selling, general and administrative expenses 11,157 10,277 Total intangible asset amortization expense $ 15,994 $ 14,851 Estimated future intangible asset amortization expense based on the carrying value as of April 3, 2026 is as follows ( …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

INCOME TAXES The income tax provision for interim periods is determined using an estimate of the annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter, the estimate of the annual effective tax rate is updated, and if the estimated effective tax rate changes, a cumulative adjustment is made. There is a potential for volatility of the effective tax rate due to several factors, including discrete items, changes in the mix and amount of pre-tax income and the jurisdictions to which it relates, changes in tax laws and foreign tax holidays, business reorganizations, settlements with taxing authorities and foreign currency fluctuations. In addition, the Company continues to explore tax planning opportunities that may have a material impact on its effective tax rate. Three Months Ended April 3, 2026 March 28, 2025 Income (loss) from continuing operations before taxes $ 20,351 $ (12,999) Provision for income taxes 3,845 9,466 Effective tax rate 18.9 % (72.8) % The difference between the Companys effective tax rates and the U.S. federal statutory income tax rate of 21% for the first quarter of 2026 is due principally to the net impact of the Companys earnings outside the U.S., which are generally taxed at rates that differ from the U.S. federal rate, the Net CFC Tested Income (NCTI), (formerly Global Intangible Low-Taxed Income (GILTI) tax), the Foreign Derived Deduction Eligible Income (FDDEI), (formerly, Forei …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Recent Accounting Pronouncements In the normal course of business, management evaluates all new Accounting Standards Updates (ASU) and other accounting pronouncements issued by the Financial Accounting Standards Board (FASB), SEC, or other authoritative accounting bodies to determine 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 already been adopted, to have a material effect on the financial position, results of operations or cash flows of the Company. Accounting Guidance to be Adopted in Future Periods In November 2024, the FASB issued ASU 2024-03, Income StatementReporting Comprehensive IncomeExpense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses . The ASU is intended to improve disclosures about a public business entitys expense and provide more detailed information to investors about the types of expenses in commonly presented expense captions. The ASU is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The ASU will affect only the Companys disclosures and will not impact its results of operations or financial condition. The Company is currently evaluating the timing of its adoption. …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

"SEGMENTS AND DISAGGREGATED REVENUE The Company operates as one operating segment. The Company's chief operating decision maker (""CODM"") is its Chief Executive Officer, who reviews financial information presented on a consolidated basis. The CODM uses consolidated income from continuing operations to make key operating decisions, including resource allocations and performance assessments. Refer to the Condensed Consolidated Statement of Operations and Comprehensive Income for financial results of the Companys operating segment. The following table presents Property, Plant and Equipment (PP&E) by geographic area. In these tables, PP&E is aggregated based on the physical location of the tangible long-lived assets (in thousands): April 3, 2026 December 31, 2025 Long-lived tangible assets by geographic area: United States $ 296,830 $ 297,441 Ireland 155,951 160,511 Mexico 47,232 45,922 Rest of world 33,131 32,553 Total $ 533,144 $ 536,427 The following table presents sales by product line (in thousands): Three Months Ended April 3, 2026 March 28, 2025 Cardio & Vascular $ 261,733 $ 258,871 Cardiac Rhythm Management & Neuromodulation 168,264 160,345 Other Markets 9,583 18,176 Total sales $ 439,580 $ 437,392 Revenue recognized from products and services transferred to customers over time represented 38% and 33% of total revenue for the three months ended April 3, 2026 and March 28, 2025, respectively. The following tables present revenues by significant customers, …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"STOCKHOLDERS EQUITY Common Stock The following is a summary of the number of shares of Common Stock issued and outstanding for the three month periods ended April 3, 2026 and March 28, 2025: Issued Treasury Stock Outstanding Beginning balance at December 31, 2025 35,481,805 (1,135,355) 34,346,450 Stock options exercised 1,084 1,084 Vested and settled RSUs and PRSUs, net of shares withheld to cover taxes 187,611 187,611 Repurchases of common stock (589,605) (589,605) Ending balance at April 3, 2026 35,481,805 (1,536,265) 33,945,540 Beginning balance at December 31, 2024 33,546,262 (6) 33,546,256 Stock options exercised 3,796 3,796 Vested and settled RSUs and PRSUs, net of shares withheld to cover taxes 190,588 190,588 Stock issued upon conversion of convertible debt 1,553,806 1,553,806 Exercise of capped call upon conversion of convertible debt (436,963) (436,963) Stock issued for acquisition 32,393 32,393 Ending balance at March 28, 2025 35,326,845 (436,969) 34,889,876 Share Repurchase Program On November 4, 2025, the Company announced that the Board had approved a share repurchase program whereby the Company may, from time to time, repurchase on the open market, in privately-negotiated purchases, including accelerated repurchases, or otherwise, up to $200.0 million of its common stock (the Share Repurchase Program). The Share Repurchase Program has no expiration date and will continue until otherwise suspended or terminated. The Share Repurchase Program does not obligate th …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing