Integer Holdings Corporation

and to withdraw your questions, simply press R1 again. I would now like to turn the conference over to Sanjeev Arora, Senior Vice President, Strategy, Business Development, and Investor Relations. Please go ahead.

Good morning, everyone. Thank you for joining us, and welcome to Integer's Third Order 2025 Earnings Conference Call. With me today are Joe Desik, President and Chief Executive Officer, Payman Kales, President and CEO-elect, Darren Smith, Executive Vice President and Chief Financial Officer, and Kristen Stewart, Director of Investor Relations. As a reminder, the results and data we discussed today reflect the consolidated results of integer for the periods indicated. During our call, we will discuss some non-GAAP financial measures. For reconciliation of non-GAAP financial measures, please refer to the appendix of today's presentation. Today's earnings press release and trending schedules which are available on our website at integer.net. Please note that today's presentation includes forward-looking statements. Please refer to the company's SEC filings for a discussion of the risk factors that could cause our results to materially differ. On today's call, Joe and Payman will provide opening comments. Dyron will then review our adjusted financial results for the third quarter of 2025 and provide an update for the full year 2025 outlook. Payman will then share our preliminary 2026 and 2027 outlooks, and then we'll open the call for your questions. With that, I'll turn it over to Joe.

Thank you, Sanjeev, and thank you to everyone for joining the call today. Today is my last call as Integer's president and CEO, and my 64th and final as a public company CEO or CFO. As I reflect on the past eight years as Integer's CEO, I am incredibly proud of what we've accomplished together. We've built a company with a clear vision, a compelling growth strategy, and a strong values-based culture. When the CEO transition process began, I did not envision my last earnings call would include a reduction in our financial outlook. The recent customer forecast changes reflect the reality that not all new products achieve the level of success we expect or want. We expect this dynamic to be short-lived. Despite this news, we are still delivering strong results over the last three years. Our sales are up 39% from 2022 to 2025 at the midpoint of our outlook. Adjusted operating income is up 77% and adjusted EPS is up 73%. Our strategy and execution have delivered. And despite what the next few quarters hold, we remain confident in our strategy because when measured over time, it is working. I am excited for Integer's future under Payment's leadership. He has played a pivotal role in shaping and executing our strategy and fostering our high performance culture. As the president of our cardio and vascular business for seven years, Payment delivered outstanding results, doubling sales and improving profitability. Tomorrow, Payment will become CEO and join the Integer board. Thank you for your support of Integer during the last eight years. I am now officially passing the baton and turning the call over to Payment to lead the remainder of the call, including the Q&A.