LivaNova PLC
For the period ended Mar 31, 2025. Filed May 7, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 7, 2025
LIVN$92.61+2.9%Stored close · as of Nov 9, 2026
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Definitions
In this Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, the following terms and abbreviations have the meanings listed below. “LivaNova” and the “Company” refer to LivaNova PLC and its consolidated subsidiaries.
| Abbreviation | Definition |
|---|---|
| 2021 First Lien Credit Agreement | First Lien Credit Agreement between LivaNova PLC and its wholly-owned subsidiary, LivaNova USA, Inc., and Goldman Sachs Bank USA, as First Lien Administrative Agent and First Lien Collateral Agent, entered into on August 13, 2021 |
| 2024 Form 10-K | LivaNova PLC’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 25, 2025 |
| 2024 Restructuring Plan | A plan, initiated during the first quarter of 2024, to enhance LivaNova’s focus on its core Cardiopulmonary and Neuromodulation segments |
| 2025 Capped Calls | Privately-negotiated capped call transactions entered into with certain financial institutions |
| 2025 Notes | $287.5 million aggregate principal amount 3.00% unsecured cash exchangeable senior notes due 2025 by private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act, issued by LivaNova USA on June 17, 2020 |
| 2029 Capped Calls | Privately-negotiated capped call transactions entered into with certain financial institutions |
| 2029 Notes | $345.0 million aggregate principal amount 2.50% unsecured convertible senior notes due 2029 by private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act, issued by LivaNova PLC on March 8, 2024 |
| ACS | Advanced Circulatory Support |
| AHI | Apnea-hypopnea index |
| ALung | ALung Technologies, Inc. |
| AOCI | Accumulated other comprehensive income (loss) |
| ASU | Accounting Standards Update |
| Barclays | Barclays Bank Ireland PLC |
| Capped Call Transactions | The 2025 Capped Calls and the 2029 Capped Calls |
| CEO | Chief Executive Officer |
| CFO | Chief Financial Officer |
| CMS | The U.S. Centers for Medicare & Medicaid Services |
| Court of Appeal | Court of Appeal in Milan |
| Delayed Draw Term Facility | $50.0 million delayed draw term facility under the 2021 First Lien Credit Agreement resulting from the Incremental Facility Amendment No. 2 |
| DRE | Drug-resistant epilepsy |
| DTD | Difficult-to-treat depression |
| ECJ | European Court of Justice |
| Embedded Derivatives | The bifurcated embedded derivatives associated with the 2025 Notes and 2029 Notes, collectively |
| Exchange Act | U.S. Securities Exchange Act of 1934, as amended |
| FASB | Financial Accounting Standards Board |
| FX | Foreign currency exchange rate |
| HLM | Heart-lung machine |
| ImThera | ImThera Medical, Inc., acquired by LivaNova in 2018, a company developing an implantable neurostimulation device system for the treatment of obstructive sleep apnea |
| Incremental Facility Amendment No. 2 | An incremental facility amendment to the 2021 First Lien Credit Agreement, dated July 6, 2022 |
| Initial Term Facility | $300.0 million term facility under the 2021 First Lien Credit Agreement, resulting from the Incremental Facility Amendment No. 2 |
| ISIN | National Inspectorate for Nuclear Safety and Radiation Protection, a sub-body of the Italian Ministry of Economic Development |
| LivaNova PLC | A public limited company organized under the laws of England and Wales on February 20, 2015 |
| Abbreviation | Definition |
|---|---|
| LivaNova USA | LivaNova USA, Inc. |
| LSM | LivaNova Site Management S.r.l. |
| MDL | Federal multi-district litigation in the U.S. District Court for the Middle District of Pennsylvania |
| MedTech | Medical technology |
| Nasdaq | Nasdaq Global Select Market |
| ODI | Oxygen desaturation index |
| Option Counterparties | Certain financial institutions with whom LivaNova USA or LivaNova PLC, as applicable, has entered into the 2025 Capped Calls and 2029 Capped Calls |
| OSA | Obstructive sleep apnea |
| OSPREY clinical trial | LivaNova’s clinical trial, “Treating Obstructive Sleep Apnea using Targeted Hypoglossal Neurostimulation” |
| Pillar Two | Organisation for Economic Co-operation and Development Global Anti-Base Erosion Model Rules (Pillar Two) |
| Public Administrations | The Italian Ministry of the Environment and other Italian government agencies |
| R&D | Research and development |
| Report | This Quarterly Report on Form 10-Q |
| RSUs | Restricted stock units |
| SARs | Stock appreciation rights |
| SEC | U.S. Securities and Exchange Commission |
| Securities Act | U.S. Securities Act of 1933, as amended |
| SG&A | Selling, general, and administrative expenses |
| SNIA | SNIA S.p.A. |
| SNIA Litigation Guarantee | A first demand bank guarantee of €270.0 million in connection with the SNIA environmental litigation |
| Sorin | Sorin S.p.A. |
| Term Facilities | The Initial Term Facility, together with the Delayed Draw Term Facility |
| U.S. | United States of America |
| U.S. GAAP | Generally Accepted Accounting Principles in the U.S. |
| UK | United Kingdom |
| USD | U.S. dollar |
| VNS Therapy | LivaNova Vagus Nerve Stimulation Therapy |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.