LivaNova PLC
For the period ended Sep 30, 2026. Filed Nov 4, 2026.
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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.
Sep 30, 2026 · Filed Nov 4, 2026
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 September 30, 2026, the following terms and abbreviations have the meanings listed below. “LivaNova” and the “Company” refer to LivaNova PLC and its consolidated subsidiaries.
| Abbreviation | Definition |
|---|---|
| 2016 Decision | Decision by the Court of Milan in 2016 to dismiss all legal actions of SNIA and of the Public Administrations and to further require the Public Administrations to pay Sorin €292,000 for legal fees |
| 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 |
| 2025 Capped Calls | Privately-negotiated capped call transactions entered into with certain financial institutions |
| 2025 Embedded Derivative | The bifurcated embedded derivative associated with the 2025 Notes |
| 2025 Form 10-K | LivaNova PLC’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 25, 2026 |
| 2025 Notes | $287.5 million aggregate principal amount 3.00% unsecured cash exchangeable senior notes due December 15, 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 Embedded Derivative | The bifurcated embedded derivative associated with the 2029 Notes |
| 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 |
| AI | Artificial intelligence |
| AOCI | Accumulated other comprehensive income (loss) |
| ASU | Accounting Standards Update |
| Capped Call Transactions | The 2025 Capped Calls and the 2029 Capped Calls |
| CEO | Chief Executive Officer |
| CFO | Chief Financial Officer |
| CODM | Chief Operating Decision Maker |
| 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 - The Company’s broader business and strategic communications reference DTD as the preferred disease state when speaking more broadly about depression treatment, as it is a more inclusive and clinically evolving concept that encompasses patients whose depression continues to cause significant burden despite usual treatment efforts. Meanwhile, LivaNova’s RECOVER clinical study defines the patient population using the inclusion criteria for TRD, typically characterized by major depressive disorder that does not adequately respond to at least two different antidepressant treatments given at an appropriate dose and duration. As a result, the Company uses TRD in the context of the RECOVER study to maintain consistency with the study protocol approved by the U.S. Centers for Medicare & Medicaid Services. References to either term in this filing are context-dependent but describe overlapping populations. |
| ECJ | European Court of Justice |
| Embedded Derivatives | The bifurcated embedded derivatives associated with the 2025 Notes and 2029 Notes, collectively |
| ERP | Enterprise resource planning |
| Exchange Act | U.S. Securities Exchange Act of 1934, as amended |
| FASB | Financial Accounting Standards Board |
| FDA | U.S. Food and Drug Administration |
| FX | Foreign currency exchange rate |
| HLM | Heart-lung machine |
| Abbreviation | Definition |
|---|---|
| IEEPA | International Emergency Economic Powers Act |
| ImThera | ImThera Medical, Inc. was a company developing an implantable neurostimulation device system for the treatment of obstructive sleep apnea that LivaNova acquired in 2018 |
| Incremental Facility Amendment No. 2 | An incremental facility amendment to the 2021 First Lien Credit Agreement, dated July 6, 2022 |
| Incremental Facility Amendment No. 3 | An incremental facility amendment to the 2021 First Lien Credit Agreement, dated March 8, 2024 |
| Initial Term Facility | $300.0 million term facility under the 2021 First Lien Credit Agreement, resulting from the Incremental Facility Amendment No. 2 |
| IPR&D | In-Process Research and Development |
| ISIN | National Inspectorate for Nuclear Safety and Radiation Protection, a sub-body of the Italian Ministry of Economic Development |
| IT | Information technology |
| LivaNova PLC | A public limited company organized under the laws of England and Wales on February 20, 2015 |
| LivaNova USA | LivaNova USA, Inc. |
| LSM | LivaNova Site Management S.r.l. |
| MedTech | Medical technology |
| Nasdaq | Nasdaq Global Select Market |
| OBBBA | One Big Beautiful Bill Act |
| OSA | Obstructive sleep apnea |
| PMA | Premarket approval |
| 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 |
| RSU | Restricted stock unit |
| SAR | Stock appreciation right |
| SEC | U.S. Securities and Exchange Commission |
| Securities Act | U.S. Securities Act of 1933, as amended |
| SG&A | Selling, general, and administrative |
| 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 |
| TRD | Treatment-resistant Depression - LivaNova’s RECOVER clinical study defines the patient population using the inclusion criteria for TRD, typically characterized by major depressive disorder that does not adequately respond to at least two different antidepressant treatments given at an appropriate dose and duration. As a result, the Company uses TRD in the context of the RECOVER study to maintain consistency with the study protocol approved by the U.S. Centers for Medicare & Medicaid Services. Meanwhile, the Company’s broader business and strategic communications reference DTD as the preferred disease state when speaking more broadly about depression treatment, as it is a more inclusive and clinically evolving concept that encompasses patients whose depression continues to cause significant burden despite usual treatment efforts. References to either term in this filing are context-dependent but describe overlapping populations. |
| 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.