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Fair Value Measurements | 12 Months Ended
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Dec. 31, 2025
Fair Value Disclosures [Abstract] |
Fair Value Measurements | Note 8. Fair Value Measurements LivaNova reviews its fair value hierarchy classification on a quarterly basis. Changes in the ability to observe valuation inputs may result in a reclassification of levels for certain securities in the fair value hierarchy. Excluding LivaNova’s investment in Ceribell, Inc., as discussed in “Note 6. Investments,” there were no transfers between Level 1, Level 2, or Level 3 for the years ended December 31, 2025, 2024, or 2023. Assets and Liabilities Measured at Fair Value on a Recurring Basis The following tables present the level in the fair value hierarchy at which the Company’s assets and liabilities are measured on a recurring basis (in thousands):
December 31, 2025 |  | Balance Sheet Location |  | Total |  | Fair Value Measurements Using Inputs Considered as:
|  |  | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |  |  |  |  |  |
Derivative assets - freestanding instruments (FX) |  | Prepaid expenses and other current assets |  | $ | 165 |  |  | $ | — |  |  | $ | 165 |  |  | $ | — |
Derivative assets - capped call derivatives (2029 Notes) |  | Long-term derivative assets |  | 36,551 |  |  | — |  |  | — |  |  | 36,551 |
Convertible notes receivable |  | Investments |  | 3,000 |  |  | — |  |  | — |  |  | 3,000 |
|  |  |  | $ | 39,716 |  |  | $ | — |  |  | $ | 165 |  |  | $ | 39,551 |
Liabilities |  |  |  |  |  |  |  |  |  |
Derivative liabilities - freestanding instruments (FX) |  | Accrued liabilities and other |  | $ | 99 |  |  | $ | — |  |  | $ | 99 |  |  | $ | — |
Derivative liabilities - embedded derivative (2029 Notes) |  | Long-term derivative liabilities |  | 83,904 |  |  | — |  |  | — |  |  | 83,904 |
ImThera contingent consideration arrangement |  | Current contingent consideration |  | 50,030 |  |  | — |  |  | — |  |  | 50,030 |
ImThera contingent consideration arrangement |  | Long-term contingent consideration |  | 42,045 |  |  | — |  |  | — |  |  | 42,045 |
|  |  |  | $ | 176,078 |  |  | $ | — |  |  | $ | 99 |  |  | $ | 175,979 |
December 31, 2024 |  | Balance Sheet Location |  | Total |  | Fair Value Measurements Using Inputs Considered as:
|  |  | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |  |  |  |  |  |
Derivative assets - freestanding instruments (FX) |  | Prepaid expenses and other current assets |  | $ | 738 |  |  | $ | — |  |  | $ | 738 |  |  | $ | — |
Derivative assets - capped call derivatives (2025 Notes) |  | Prepaid expenses and other current assets |  | 2,624 |  |  | — |  |  | — |  |  | 2,624 |
Derivative assets - capped call derivatives (2029 Notes) |  | Long-term derivative assets |  | 23,735 |  |  | — |  |  | — |  |  | 23,735 |
Investment with readily determinable fair value |  | Investments |  | 10,144 |  |  | 10,144 |  |  | — |  |  | — |
|  |  |  | $ | 37,241 |  |  | $ | 10,144 |  |  | $ | 738 |  |  | $ | 26,359 |
Liabilities |  |  |  |  |  |  |  |  |  |
Derivative liabilities - embedded derivative (2025 Notes) |  | Accrued liabilities and other |  | $ | 2,915 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,915 |
Derivative liabilities - embedded derivative (2029 Notes) |  | Long-term derivative liabilities |  | 51,819 |  |  | — |  |  | — |  |  | 51,819 |
ImThera contingent consideration arrangement |  | Long-term contingent consideration |  | 84,218 |  |  | — |  |  | — |  |  | 84,218 |
|  |  |  | $ | 138,952 |  |  | $ | — |  |  | $ | — |  |  | $ | 138,952 |
Reconciliation of Level 3 Assets and Liabilities The tables below present reconciliations of recurring fair value measurements that use significant unobservable inputs (Level 3) (in thousands):
|  | Capped Call Derivative Assets (2025 Notes) |  | Capped Call Derivative Assets (2029 Notes) |  | Convertible Notes Receivable |  | Embedded Derivative Liability (2025 Notes) |  | Embedded Derivative Liability (2029 Notes) |  | Contingent Consideration Liability Arrangements
As of December 31, 2023 |  | $ | 38,496 |  |  | $ | — |  |  | $ | 275 |  |  | $ | 45,569 |  |  | $ | — |  |  | $ | 94,652 |
Additions |  | — |  |  | 31,637 |  |  | — |  |  | — |  |  | 87,457 |  |  | — |
Cash receipt |  | (22,524) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Payment |  | — |  |  | — |  |  | — |  |  | (36,915) |  |  | — |  |  | (13,750) |
Changes in fair value (1) (2) |  | (13,348) |  |  | (7,902) |  |  | (275) |  |  | (5,739) |  |  | (35,638) |  |  | 3,316 |
As of December 31, 2024 |  | 2,624 |  |  | 23,735 |  |  | — |  |  | 2,915 |  |  | 51,819 |  |  | 84,218 |
Additions |  | — |  |  | — |  |  | 3,000 |  |  | — |  |  | — |  |  | — |
Changes in fair value (1) (2) |  | (2,624) |  |  | 12,816 |  |  | — |  |  | (2,915) |  |  | 32,085 |  |  | 7,857 |
As of December 31, 2025 |  | $ | — |  |  | $ | 36,551 |  |  | $ | 3,000 |  |  | $ | — |  |  | $ | 83,904 |  |  | $ | 92,075 |
(1)For the year ended December 31, 2025, the contingent consideration change in fair value resulted in an increase of $4.2 million recorded to cost of sales and an increase of $3.6 million recorded to R&D. For the year ended December 31, 2024, the contingent consideration change in fair value resulted in an increase of $1.3 million recorded to cost of sales and an increase of $2.0 million recorded to R&D. (2)Changes in the fair value of the embedded derivative liabilities and capped call derivative assets are recognized in foreign exchange and other income/(expense) in the consolidated statements of income (loss). For additional information on changes in fair value as it relates to the embedded and capped call derivatives, refer to “Note 7. Derivatives and Risk Management.” Share Price Volatility The following table presents the share price volatility utilized in determining the fair value of LivaNova’s capped call derivative assets and embedded derivative liabilities:
Share Price Volatility (1) |  | Capped Call Derivative Assets (2025 Notes) |  | Capped Call Derivative Assets (2029 Notes) |  | Embedded Derivative Liability (2025 Notes) |  | Embedded Derivative Liability (2029 Notes)
December 31, 2025 |  | N/A |  | 37 | % |  | N/A |  | 37 | %
December 31, 2024 |  | 37 | % |  | 35 | % |  | 37 | % |  | 35 | %
(1)The embedded and capped call derivatives are classified as Level 3 because the Company uses historical volatility and implied volatility from actual options traded to determine expected share price volatility, an unobservable input that is significant to the valuation. In general, an increase in LivaNova’s share price or share price volatility would increase the fair value of the embedded and capped call derivatives, which would result in an increase in net expense. As the remaining time to the expiration of the derivatives decreases, the fair value of the derivatives decreases. The future impact of the derivatives on net (loss) income depends on how significant inputs, such as share price, share price volatility, and time to the expiration of the derivatives, change in relation to other inputs. Contingent Consideration Arrangements The ImThera business combination involved contingent consideration arrangements comprised of potential cash payments upon the achievement of a certain regulatory milestone and a sales-based earnout associated with sales of products. The sales-based earnouts are valued using projected sales from LivaNova’s internal strategic plan. These arrangements are Level 3 fair value measurements and include the following significant unobservable inputs as of December 31, 2025:
ImThera Acquisition |  | Valuation Technique |  | Unobservable Inputs
Regulatory milestone-based payment |  | Discounted cash flow |  | Discount rate |  | 5.4%
|  |  |  | Probability of payment |  | 85%
|  |  |  | Projected payment year |  | 2026
ImThera Acquisition |  | Valuation Technique |  | Unobservable Inputs
Sales-based earnout |  | Monte Carlo simulation |  | Risk-adjusted discount rate |  | 11.5% - 11.6%
|  |  |  | Credit risk discount rate |  | 5.7% - 6.3%
|  |  |  | Revenue volatility |  | 23.3%
|  |  |  | Probability of payment |  | 85%
|  |  |  | Projected years of earnout |  | 2027 - 2030
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis LivaNova’s investments in equity securities of non-consolidated affiliates without readily determinable fair values are reported at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer. LivaNova’s investments in non-financial assets such as goodwill, intangible assets, and PP&E are measured at fair value if there is an indication of impairment and adjusted to the new fair value when an impairment is recognized. LivaNova classifies the measurement input for these assets as Level 3 inputs within the fair value hierarchy. Other The carrying value of LivaNova’s long-term debt including the current portion as of December 31, 2025 and 2024 was $376.1 million and $627.0 million, respectively. The fair value of the 2029 Notes as of December 31, 2025 and 2024 was $399.1 million and $343.7 million, respectively. The fair value of the 2025 Notes as of December 31, 2024 was $58.7 million. For all other long-term debt obligations, LivaNova believes the carrying value approximates fair value. The fair value was estimated using quoted market prices for the publicly registered Senior Notes, which are classified as Level 2 within the fair value hierarchy. The fair values and principal values consider the terms of the related debt and exclude the impacts of debt discounts and hedging activity. The carrying values of LivaNova’s cash, cash equivalents, and restricted cash, accounts receivable, accounts payable, and accrued liabilities approximate their fair values due to the short-term nature of these items.

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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 107 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-107 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 100 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-100 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2E -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 940 -SubTopic 820 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478119/940-820-50-1 + Details
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