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STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549\n\n \n\nFORM 10-Q\n\n(Mark One) \n\n☒    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the quarterly period ended March 31, 2026.\n\nOR\n\n☐    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the transition period from ___________ to ___________\n\nCommission File Number: 001-38593\n\nEstablishment Labs Holdings Inc.\n\n(Exact name of Registrant as specified in its charter)\n\nBritish Virgin Islands\n98-1436377\n\nState or Other Jurisdiction of\n\nIncorporation or Organization\n\nI.R.S. Employer Identification No.\n\n11401 Century Oaks Terrace\n\nSuite 400\n\nAustin, Texas\n\n78758\n\nAddress of Principal Executive OfficesZip Code\n\n+\n1\n\n800\n924-5072\n\nRegistrant’s Telephone Number, Including Area Code\n\nNot applicable\n\nFormer Name, Former Address and Former Fiscal Year, if Changed Since Last Report\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\nTitle of each classTrading symbolName of each exchange on which registered\n\nCommon Shares, No Par ValueESTA\nThe NASDAQ Capital Market\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes ☒    No ☐\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).  Yes ☒  No ☐\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\nLarge accelerated filer ☒\nAccelerated filer ☐\n\nNon-accelerated filer ☐\nSmaller reporting company ☐\n\nEmerging growth company ☐\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).  Yes ☐  No ☒\n\nThe number of the registrant’s common shares outstanding as of May 7, 2026 was 29,430,390.\n\nTABLE OF CONTENTS\n\n  Page\n\nExplanatory Note\n\n[1](#i58109fa3b37749baabdbe0237fa79226_1269)\n\n[Special Note Regarding Forward-Looking Statements](#i58109fa3b37749baabdbe0237fa79226_1286)\n\n[1](#i58109fa3b37749baabdbe0237fa79226_1286)\n\n[Part I. Financial Information](#i58109fa3b37749baabdbe0237fa79226_16)\n\n[3](#i58109fa3b37749baabdbe0237fa79226_16)\n\n[Item 1.](#i58109fa3b37749baabdbe0237fa79226_16)\n\n[Financial Statements - Unaudited](#i58109fa3b37749baabdbe0237fa79226_16)\n\n[3](#i58109fa3b37749baabdbe0237fa79226_16)\n\n \n[Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025](#i58109fa3b37749baabdbe0237fa79226_19)\n\n[3](#i58109fa3b37749baabdbe0237fa79226_19)\n\n \n[Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2026 and 2025](#i58109fa3b37749baabdbe0237fa79226_22)\n\n[4](#i58109fa3b37749baabdbe0237fa79226_22)\n\n[Condensed Consolidated Statements of Comprehensive Loss for the Three Months Ended March 31, 2026 and 2025](#i58109fa3b37749baabdbe0237fa79226_25)\n\n[5](#i58109fa3b37749baabdbe0237fa79226_25)\n\n[Condensed Consolidated Statements of Shareholders’ Equity for the Three Months Ended March 31, 2026 and 2025](#i58109fa3b37749baabdbe0237fa79226_28)\n\n[6](#i58109fa3b37749baabdbe0237fa79226_28)\n\n \n[Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2026 and 2025](#i58109fa3b37749baabdbe0237fa79226_31)\n\n[7](#i58109fa3b37749baabdbe0237fa79226_31)\n\n \n[Notes to the Condensed Consolidated Financial Statements](#i58109fa3b37749baabdbe0237fa79226_34)\n\n[9](#i58109fa3b37749baabdbe0237fa79226_34)\n\n[Item 2.](#i58109fa3b37749baabdbe0237fa79226_85)\n\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#i58109fa3b37749baabdbe0237fa79226_85)\n\n[38](#i58109fa3b37749baabdbe0237fa79226_85)\n\n[Item 3.](#i58109fa3b37749baabdbe0237fa79226_115)\n\n[Quantitative and Qualitative Disclosures About Market Risk](#i58109fa3b37749baabdbe0237fa79226_115)\n\n[44](#i58109fa3b37749baabdbe0237fa79226_115)\n\n[Item 4.](#i58109fa3b37749baabdbe0237fa79226_118)\n\n[Controls and Procedures](#i58109fa3b37749baabdbe0237fa79226_118)\n\n[44](#i58109fa3b37749baabdbe0237fa79226_118)\n\n[Part II. Other Information](#i58109fa3b37749baabdbe0237fa79226_121)\n\n[45](#i58109fa3b37749baabdbe0237fa79226_121)\n\n[Item 1.](#i58109fa3b37749baabdbe0237fa79226_124)\n\n[Legal Proceedings](#i58109fa3b37749baabdbe0237fa79226_124)\n\n[45](#i58109fa3b37749baabdbe0237fa79226_124)"}