XML 41 R30.htm IDEA: XBRL DOCUMENT
v3.25.2

Supplemental Financial Information (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Inventories | The following table presents the components of inventories (in thousands):
|  | June 30, 2025 |  | December 31, 2024
Raw materials |  | $ | 77,047 |  |  | $ | 71,949 |
Work-in-process |  | 16,333 |  |  | 12,322 |
Finished goods |  | 71,970 |  |  | 63,295 |
|  | $ | 165,350 |  |  | $ | 147,566 |
Schedule of Accrued Liabilities | The following table presents the components of accrued liabilities and other (in thousands):
|  | June 30, 2025 |  | December 31, 2024 |  |
Italian MedTech payback measure |  | $ | 19,690 |  |  | $ | 15,981 |  |  |
Legal and professional costs |  | 18,972 |  |  | 17,379 |  |  |
Contract liabilities |  | 11,176 |  |  | 10,848 |  |  |
Operating lease liabilities |  | 9,380 |  |  | 9,040 |  |  |
Interest payable |  | 5,245 |  |  | 9,479 |  |  |
Provisions for agents, returns, and other |  | 4,869 |  |  | 6,744 |  |  |
Royalty accrual |  | 4,771 |  |  | 4,466 |  |  |
Research and development costs |  | 1,711 |  |  | 6,167 |  |  |
Current derivative liabilities |  | 1,369 |  |  | 2,915 |  |  |
Restructuring liabilities |  | — |  |  | 2,003 |  |  |
Other accrued expenses |  | 26,057 |  |  | 33,463 |  |  |
|  | $ | 103,240 |  |  | $ | 118,485 |  |  |
Schedule of Foreign Exchange and Other Income/(Expense) | The following table presents the items included in foreign exchange and other income/(expense) on the condensed consolidated statements of income (loss) (in thousands):
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Embedded derivative fair value adjustment (2025 Notes) (1) |  | $ | (489) |  |  | $ | 615 |  |  | $ | 1,552 |  |  | $ | (1,363) |
Embedded derivative fair value adjustment (2029 Notes) (1) |  | (10,867) |  |  | (1,104) |  |  | 3,726 |  |  | (7,935) |
Capped call fair value adjustment (2025 Notes) (1) |  | 498 |  |  | (571) |  |  | (1,321) |  |  | (8,533) |
Capped call fair value adjustment (2029 Notes) (1) |  | 4,468 |  |  | (1,493) |  |  | (2,077) |  |  | 477 |
Investment revaluation - Ceribell, Inc. (2) |  | (1,008) |  |  | — |  |  | (3,622) |  |  | — |
Impairment of investment in ShiraTronics, Inc. (3) |  | — |  |  | (5,750) |  |  | — |  |  | (5,750) |
Interest income |  | 4,183 |  |  | 7,337 |  |  | 10,626 |  |  | 14,358 |
FX fluctuations |  | (1,240) |  |  | (2,183) |  |  | (1,850) |  |  | (3,105) |
Other |  | 200 |  |  | 104 |  |  | 127 |  |  | (265) |
|  | $ | (4,255) |  |  | $ | (3,045) |  |  | $ | 7,161 |  |  | $ | (12,116) |
(1)Refer to “Note 3. Fair Value Measurements.” (2)During the second quarter of 2025, LivaNova liquidated its investment in Ceribell, Inc., consisting of 391,952 common shares, in a series of transactions with an average sales price of $16.69 per common share, resulting in net proceeds of $6.5 million from an initial investment in 2018 of $3.0 million. (3)Impairment of equity investment related to LivaNova’s preferred share ownership converting into common stock of ShiraTronics, Inc. during the second quarter of 2024.
Schedule of Cash, Cash Equivalents and Restricted Cash | The following table presents a reconciliation of cash, cash equivalents, and restricted cash reported on the condensed consolidated balance sheets that sum to the total of the amounts shown on the condensed consolidated statements of cash flows (in thousands):
|  |  |  |  |  | June 30, 2025 |  | December 31, 2024
Cash and cash equivalents |  |  |  |  |  | $ | 593,638 |  |  | $ | 428,858 |
Restricted cash (1) |  |  |  |  |  | — |  |  | 294,698 |
|  |  |  |  |  | $ | 593,638 |  |  | $ | 723,556 |
(1)On March 18, 2022, LivaNova PLC, acting through its Italian branch, entered into an Indemnity Letter and an Account Pledge Agreement with Barclays, further to which Barclays issued the SNIA Litigation Guarantee. As security for the SNIA Litigation Guarantee, LivaNova was required to grant cash collateral to Barclays in USD in an amount equal to the USD equivalent of 105% of the amount of the SNIA Litigation Guarantee calibrated on a biweekly basis, which is presented as restricted cash on the condensed consolidated balance sheet. On March 31, 2025, as a result of the decision by the Italian Supreme Court, the SNIA Litigation Guarantee was terminated, and the restriction on the cash deposit held as collateral was released. For additional information, refer to “Note 5. Commitments and Contingencies.”
Schedule of Cash, Cash Equivalents and Restricted Cash | The following table presents a reconciliation of cash, cash equivalents, and restricted cash reported on the condensed consolidated balance sheets that sum to the total of the amounts shown on the condensed consolidated statements of cash flows (in thousands):
|  |  |  |  |  | June 30, 2025 |  | December 31, 2024
Cash and cash equivalents |  |  |  |  |  | $ | 593,638 |  |  | $ | 428,858 |
Restricted cash (1) |  |  |  |  |  | — |  |  | 294,698 |
|  |  |  |  |  | $ | 593,638 |  |  | $ | 723,556 |
(1)On March 18, 2022, LivaNova PLC, acting through its Italian branch, entered into an Indemnity Letter and an Account Pledge Agreement with Barclays, further to which Barclays issued the SNIA Litigation Guarantee. As security for the SNIA Litigation Guarantee, LivaNova was required to grant cash collateral to Barclays in USD in an amount equal to the USD equivalent of 105% of the amount of the SNIA Litigation Guarantee calibrated on a biweekly basis, which is presented as restricted cash on the condensed consolidated balance sheet. On March 31, 2025, as a result of the decision by the Italian Supreme Court, the SNIA Litigation Guarantee was terminated, and the restriction on the cash deposit held as collateral was released. For additional information, refer to “Note 5. Commitments and Contingencies.”

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accrued liabilities. + References No definition available. + Details
Name: | us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of cash and cash equivalents. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCashAndCashEquivalentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(c)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483489/210-10-50-1 + Details
Name: | us-gaap_ScheduleOfInventoryCurrentTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-9 + Details
Name: | us-gaap_ScheduleOfRealizedGainLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of cash and cash equivalents restricted as to withdrawal or usage. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(2)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(1)(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 8 -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482913/230-10-50-8 + Details
Name: | us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration