LivaNova PLC 10-Q for FY2025 Q2

LivaNova PLC (LIVN)

10-Q 2025-08-06 For: 2025-06-30

Added on April 10, 2026

About this 10-Q

LivaNova PLC filed this 10-Q on August 6, 2025, covering the quarter ended June 30, 2025 (FY2025 Q2).

Headline figures

Quarter ended June 30, 2025, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $352.52M; up 10.7% from $318.58M a year earlier
Net income: $27.16M; up 66.3% from net income of $16.33M a year earlier
Diluted EPS: $0.50; up 66.7% from $0.30 a year earlier

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Large accelerated filer	☑	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☐
Emerging growth company	☐


Class			Outstanding at July 30, 2025
Ordinary Shares - £1.00 par value per share			54,601,073


Item	Description	Page
	Definitions	1
	Intellectual Property, Trademarks, and Trade Names	4
	Cautionary Note About Forward-Looking Statements	5
	PART I. FINANCIAL INFORMATION
1.	Financial Statements (unaudited)	6
2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	29
3.	Quantitative and Qualitative Disclosures About Market Risk	36
4.	Controls and Procedures	36
	PART II. OTHER INFORMATION
1.	Legal Proceedings	36
1A.	Risk Factors	36
2.	Unregistered Sales of Equity Securities and Use of Proceeds	36
3.	Defaults Upon Senior Securities	36
4.	Mine Safety Disclosures	36
5.	Other Information	37
6.	Exhibits	38
	Signatures	39


Abbreviation						Definition
2015 Plan						LivaNova PLC 2015 Incentive Award Plan
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 Director Incentive Plan						LivaNova PLC 2025 Director Incentive Plan
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 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
A&R 2022 Plan						Amended and Restated LivaNova PLC 2022 Incentive Award Plan

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 - 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 and Medicaid Services. References to either term in this filing are context-dependent but describe overlapping populations.
EBT						LivaNova PLC Employee Benefit Trust
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


Abbreviation						Definition
FASB						Financial Accounting Standards Board
FX						Foreign currency exchange rate
Group of Seven						Seven major industrial countries, consisting of Canada, France, Germany, Italy, Japan, the UK, and the U.S.

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
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
Ministry						Collectively, the Ministry of Ecological Transition, the Ministry of Economy and Finance, and the Prime Minister’s Office
Nasdaq						Nasdaq Global Select Market

OBBBA						One Big Beautiful Bill Act
ODI						Oxygen desaturation index
OECD						Organisation for Economic Co-operation and Development
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
Second A&R 2022 Plan						Second Amended and Restated LivaNova PLC 2022 Incentive Award Plan
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


Abbreviation						Definition
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 and 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


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Net revenue	$	352,524	$	318,575	$	669,379	$	613,487
Cost of sales	113,536		103,697		214,137		195,401
Gross profit	238,988		214,878		455,242		418,086
Operating expenses:
Selling, general, and administrative	137,780		125,131		266,926		250,812
Research and development	47,185		44,737		85,064		90,401
Other operating expenses	(160)		4,844		452		20,461
Operating income	54,183		40,166		102,800		56,412
SNIA environmental liability expense	(1,677)		—		(362,070)		—
Interest expense	(12,280)		(15,532)		(27,566)		(31,425)
Loss on debt extinguishment	(2,651)		—		(2,651)		(25,482)
Foreign exchange and other income/(expense)	(4,255)		(3,045)		7,161		(12,116)
Income (loss) before income tax	33,320		21,589		(282,326)		(12,611)
Income tax expense	6,151		5,227		17,807		12,944
Loss from equity method investments	(8)		(29)		(28)		(55)
Net income (loss)	$	27,161	$	16,333	$	(300,161)	$	(25,610)


Basic income (loss) per share	$	0.50	$	0.30	$	(5.51)	$	(0.47)
Diluted income (loss) per share	$	0.50	$	0.30	$	(5.51)	$	(0.47)

Shares used in computing basic income (loss) per share	54,577		54,238		54,502		54,202
Shares used in computing diluted income (loss) per share	54,708		54,591		54,502		54,202


	June 30, 2025		December 31, 2024
ASSETS
Current Assets:
Cash and cash equivalents	$	593,638	$	428,858
Restricted cash	—		294,698
Accounts receivable, net of allowance of $12,856 at June 30, 2025 and $11,275 at December 31, 2024	220,195		193,158
Inventories	165,350		147,566
Prepaid and refundable taxes	32,785		30,544


Prepaid expenses and other current assets	54,174		32,362
Total Current Assets	1,066,142		1,127,186
Property, plant, and equipment, net	195,418		170,260
Goodwill	793,365		750,006
Intangible assets, net	239,143		237,294
Operating lease assets	50,677		46,837
Investments	16,163		25,084
Deferred tax assets	109,810		111,855
Long-term derivative assets	21,658		23,735
Other assets	14,326		14,132
Total Assets	$	2,506,702	$	2,506,389
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Current debt obligations	$	82,133	$	78,004
Accounts payable	86,934		69,726
Accrued liabilities and other	103,240		118,485
SNIA environmental liability	392,268		—
Current contingent consideration	48,265		—
Current litigation provision liability	12,171		12,918
Taxes payable	34,495		32,456
Accrued employee compensation and related benefits	67,594		80,536

Total Current Liabilities	827,100		392,125
Long-term debt obligations	348,489		549,624
Long-term contingent consideration	39,662		84,218

Deferred tax liabilities	11,392		10,915
Long-term operating lease liabilities	42,777		40,105
Long-term employee compensation and related benefits	13,651		12,847
Long-term derivative liabilities	48,093		51,819
Other long-term liabilities	52,699		44,478
Total Liabilities	1,383,863		1,186,131
Commitments and contingencies (Note 5)
Stockholders’ Equity:
Ordinary Shares, £1.00 par value: unlimited shares authorized; 55,498,718 shares issued and 54,590,282 shares outstanding at June 30, 2025; 54,437,670 shares issued and 54,348,542 shares outstanding at December 31, 2024	84,521		83,156
Additional paid-in capital	2,234,777		2,220,658
Accumulated other comprehensive income (loss)	8,113		(80,170)
Accumulated deficit	(1,203,411)		(903,250)
Treasury stock at cost, 908,436 ordinary shares at June 30, 2025; 89,128 ordinary shares at December 31, 2024	(1,161)		(136)
Total Stockholders’ Equity	1,122,839		1,320,258
Total Liabilities and Stockholders’ Equity	$	2,506,702	$	2,506,389


	Balance Sheet Location	June 30, 2025		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	$	9,373	$	—	$	9,373	$	—
Derivative assets - capped call derivatives (2025 Notes)	Prepaid expenses and other current assets	1,303		—		—		1,303
Derivative assets - capped call derivatives (2029 Notes)	Long-term derivative assets	21,658		—		—		21,658
		$	32,334	$	—	$	9,373	$	22,961
Liabilities:
Derivative liabilities - freestanding instruments (FX)	Accrued liabilities and other	$	6	$	—	$	6	$	—
Derivative liabilities - embedded derivative (2025 Notes)	Accrued liabilities and other	1,363		—		—		1,363
Derivative liabilities - embedded derivative (2029 Notes)	Long-term derivative liabilities	48,093		—		—		48,093
ImThera contingent consideration arrangement	Current contingent consideration	48,265		—		—		48,265
ImThera contingent consideration arrangement	Long-term contingent consideration	39,662		—		—		39,662
		$	137,389	$	—	$	6	$	137,383


	Three Months Ended June 30, 2025
	Capped Call Derivative Assets (2025 Notes)		Capped Call Derivative Assets (2029 Notes)		Embedded Derivative Liability (2025 Notes)		Embedded Derivative Liability (2029 Notes)		ImThera Contingent Consideration Liability
March 31, 2025	$	805	$	17,190	$	874	$	37,226	$	85,140
Changes in fair value	498		4,468		489		10,867		2,787
June 30, 2025	$	1,303	$	21,658	$	1,363	$	48,093	$	87,927


	Three Months Ended June 30, 2024
	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
March 31, 2024	$	8,010	$	33,607	$	269	$	10,632	$	94,288	$	80,769
Changes in fair value	(571)		(1,493)		6		(615)		1,104		405
June 30, 2024	$	7,439	$	32,114	$	275	$	10,017	$	95,392	$	81,174


	Six Months Ended June 30, 2025
	Capped Call Derivative Assets (2025 Notes)		Capped Call Derivative Assets (2029 Notes)		Embedded Derivative Liability (2025 Notes)		Embedded Derivative Liability (2029 Notes)		ImThera Contingent Consideration Liability
December 31, 2024	$	2,624	$	23,735	$	2,915	$	51,819	$	84,218
Changes in fair value	(1,321)		(2,077)		(1,552)		(3,726)		3,709
June 30, 2025	$	1,303	$	21,658	$	1,363	$	48,093	$	87,927


	Six Months Ended June 30, 2024
	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
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	(8,533)		477		—		1,363		7,935		272
June 30, 2024	$	7,439	$	32,114	$	275	$	10,017	$	95,392	$	81,174


Stock 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)
June 30, 2025	44	%	39	%	44	%	39	%
December 31, 2024	37	%	35	%	37	%	35	%


	June 30, 2025		December 31, 2024		Maturity	Interest Rate
Term Facilities	$	107,722	$	313,014	July 2027	7.36%
2029 Notes	266,569		258,043		March 2029	2.50%
2025 Notes	55,713		53,887		December 2025	3.00%
Bank of America, U.S.	—		1,500
Other	588		519
Total long-term facilities	430,592		626,963
Less: Current portion of long-term debt	82,103		77,339
Total long-term debt obligations	$	348,489	$	549,624


	Six Months Ended June 30,
	2025		2024
Operating Activities:
Net loss	$	(300,161)	$	(25,610)
Adjustments to reconcile net loss to net cash provided by operating activities:
Remeasurement of derivative instruments	(27,260)		12,465
Stock-based compensation	16,957		18,425
Depreciation	13,293		12,441
Amortization of debt issuance costs	11,397		10,195
Amortization of intangible assets	8,656		8,615
Amortization of operating lease assets	7,762		4,377
Remeasurement of contingent consideration to fair value	3,709		272
Loss on investment revaluation - Ceribell, Inc.	3,622		—
Deferred income tax expense	2,763		5,556
Loss on debt extinguishment	2,651		25,482
Impairment of investment in ShiraTronics, Inc.	—		5,750
Other	968		704
Changes in operating assets and liabilities:
Accounts receivable, net	(13,672)		8,398
Inventories	(6,038)		(10,938)
Other current and non-current assets	35,540		(3,366)
Accounts payable and accrued current and non-current liabilities	(33,171)		(25,380)
Taxes payable	(897)		820
SNIA environmental liability	362,070		—
Litigation provision liability	(1,303)		5,131
Net cash provided by operating activities	86,886		53,337
Investing Activities:
Purchases of property, plant, and equipment	(25,937)		(18,554)
Proceeds from investments	6,522		—
Other	(181)		(378)
Net cash used in investing activities	(19,596)		(18,932)
Financing Activities:
Repayment of long-term debt obligations	(210,250)		(238,750)
Shares repurchased from employees for minimum tax withholding	(3,881)		(8,125)
Proceeds from long-term debt obligations	—		335,513
Payment of debt extinguishment costs	—		(38,953)
Purchase of capped calls	—		(31,637)
Proceeds from unwind of capped calls	—		22,523
Payment of contingent consideration	—		(13,750)


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Service-based RSUs	$	4,521	$	4,300	$	8,069	$	9,374
Service-based SARs	3,381		3,240		6,134		6,523
Market performance-based RSUs	515		(13)		929		1,046
Operating performance-based RSUs	461		416		1,282		864
Employee share purchase plan	296		256		543		618
	$	9,174	$	8,199	$	16,957	$	18,425


	Six Months Ended June 30, 2025
	Shares	Weighted Average Grant Date Fair Value
Service-based SARs	1,038,444	$	17.87
Service-based RSUs	553,129	39.59
Market performance-based RSUs	82,009	41.51
Operating performance-based RSUs	92,630	39.59


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Cardiopulmonary
United States	$	71,243	$	64,873	$	132,077	$	115,450
Europe (1)	49,046		38,567		93,553		79,493
Rest of World (1)	78,983		70,274		149,962		134,662
	199,272		173,714		375,592		329,605
Neuromodulation
United States	117,226		111,683		225,560		217,612
Europe (1)	17,730		15,590		32,924		28,997
Rest of World (1)	16,714		15,603		32,079		30,139
	151,670		142,876		290,563		276,748
Other Revenue (2)	1,582		1,985		3,224		7,134
Totals (3)
United States	188,474		179,537		357,638		340,157
Europe (1)	66,776		51,258		126,477		105,599
Rest of World (1)	97,274		87,780		185,264		167,731
	$	352,524	$	318,575	$	669,379	$	613,487


As of December 31, 2024	$	15,843
Payments	(1,932)
Adjustments (1)	629
FX and other	904
As of June 30, 2025	15,444
Less: Current portion as of June 30, 2025	12,171
Long-term portion as of June 30, 2025 (2)	$	3,273


	Ordinary Shares	Ordinary Shares - Amount		Additional Paid-In Capital		Treasury Stock		Accumulated Other Comprehensive Income (Loss)		Accumulated Deficit		Total Stockholders’ Equity
March 31, 2025	55,441	$	84,446	$	2,224,578	$	(1,426)	$	(42,728)	$	(1,230,572)	$	1,034,298
Stock-based compensation plans	58	75		10,199		265		—		—		10,539
Net income	—	—		—		—		—		27,161		27,161
Other comprehensive income	—	—		—		—		50,841		—		50,841
June 30, 2025	55,499	$	84,521	$	2,234,777	$	(1,161)	$	8,113	$	(1,203,411)	$	1,122,839

March 31, 2024	54,296	$	82,975	$	2,192,676	$	(481)	$	(45,206)	$	(1,008,427)	$	1,221,537
Stock-based compensation plans	108	95		11,904		286		—		—		12,285
Net income	—	—		—		—		—		16,333		16,333
Other comprehensive loss	—	—		—		—		(7,613)		—		(7,613)
June 30, 2024	54,404	$	83,070	$	2,204,580	$	(195)	$	(52,819)	$	(992,094)	$	1,242,542


	Foreign Currency Translation Adjustments (1)
December 31, 2024	$	(80,170)
Other comprehensive income before reclassifications, before tax	88,283
Tax expense	—
Other comprehensive income net of reclassifications, before tax	88,283



Net current-period other comprehensive income, net of tax	88,283
June 30, 2025	$	8,113


	Foreign Currency Translation Adjustments (1)
December 31, 2023	$	(27,883)
Other comprehensive loss before reclassifications, before tax	(24,936)
Tax expense	—
Other comprehensive loss before reclassifications, net of tax	(24,936)



Net current-period other comprehensive loss, net of tax	(24,936)
June 30, 2024	$	(52,819)


	Cardiopulmonary		Neuromodulation		Total
December 31, 2024	$	351,252	$	398,754	$	750,006

Foreign currency adjustments	43,359		—		43,359
June 30, 2025	$	394,611	$	398,754	$	793,365


	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


	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


	Twelve Months Ended December 31, 2024						Twelve Months Ended December 31, 2023
	As Previously Reported		Adjustment		As Revised		As Previously Reported		Adjustment		As Revised
Cost of sales	$	382,564	$	17,389	$	399,953	$	382,295	$	15,430	$	397,725
Gross profit	870,873		(17,389)		853,484		771,250		(15,430)		755,820
Selling, general, and administrative	526,265		(17,389)		508,876		518,129		(15,430)		502,699


	Three Months Ended March 31, 2025						Three Months Ended March 31, 2024
	As Previously Reported		Adjustment		As Revised		As Previously Reported		Adjustment		As Revised
Cost of sales	$	96,080	$	4,521	$	100,601	$	87,522	$	4,182	$	91,704
Gross profit	220,775		(4,521)		216,254		207,390		(4,182)		203,208
Selling, general, and administrative	133,667		(4,521)		129,146		129,863		(4,182)		125,681


	Three Months Ended September 30, 2024						Nine Months Ended September 30, 2024
	As Previously Reported		Adjustment		As Revised		As Previously Reported		Adjustment		As Revised
Cost of sales	$	92,856	$	4,235	$	97,091	$	280,088	$	12,404	$	292,492
Gross profit	225,264		(4,235)		221,029		651,519		(12,404)		639,115
Selling, general, and administrative	131,661		(4,235)		127,426		390,642		(12,404)		378,238


	June 30, 2025		December 31, 2024
Available Short-term Liquidity
Cash and cash equivalents	$	593,638	$	428,858
Availability under the 2021 First Lien Credit Agreement	225,000		225,000
	$	818,638	$	653,858
Working Capital
Current assets	$	1,066,142	$	1,127,186
Current liabilities	827,100		392,125
	$	239,042	$	735,061
Debt Obligations
Current portion of long-term debt	$	82,103	$	77,339
Short-term unsecured borrowing arrangements	30		665
Current debt obligations	82,133		78,004
Long-term debt obligations (1)	348,489		549,624
	$	430,622	$	627,628


Exhibit Number						Description
10.1 †						Second Amended and Restated LivaNova PLC 2022 Incentive Award Plan, incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K, filed on June 11, 2025
10.2 †						Form of Second Amended and Restated LivaNova PLC 2022 Incentive Award Plan Stock Appreciation Right Grant Notice and Agreement, incorporated by reference to Exhibit 10.2 of the Company’s Current Report on Form 8-K, filed on June 11, 2025
10.3 †						Form of Second Amended and Restated LivaNova PLC 2022 Incentive Award Plan Restricted Stock Unit Award Grant Notice and Agreement, incorporated by reference to Exhibit 10.3 of the Company’s Current Report on Form 8-K, filed on June 11, 2025
10.4 †						Form of Second Amended and Restated LivaNova PLC 2022 Incentive Award Plan Performance Stock Unit Award Grant Notice and Agreement, incorporated by reference to Exhibit 10.4 of the Company’s Current Report on Form 8-K, filed on June 11, 2025
10.5 †						LivaNova PLC 2025 Director Incentive Award Plan, incorporated by reference to Exhibit 10.5 of the Company’s Current Report on Form 8-K, filed on June 11, 2025
10.6 †						Form of LivaNova PLC 2025 Director Incentive Award Plan Restricted Stock Unit Award Grant Notice and Agreement, incorporated by reference to Exhibit 10.6 of the Company’s Current Report on Form 8-K, filed on June 11, 2025
31.1*						Certification of the Chief Executive Officer of LivaNova PLC pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2*						Certification of the Chief Financial Officer of LivaNova PLC pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1*						Certification of the Chief Executive Officer and Chief Financial Officer of LivaNova PLC pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101*						Interactive Data Files Pursuant to Rule 405 of Regulation S-T formatted in Inline XBRL: (i) the Condensed Consolidated Statements of Income (Loss) for the three and six months ended June 30, 2025 and 2024, (ii) the Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and six months ended June 30, 2025 and 2024, (iii) the Condensed Consolidated Balance Sheets as of June 30, 2025 and December 31, 2024, (iv) the Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2025 and 2024, and (v) the Notes to the Condensed Consolidated Financial Statements
104*						Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)


	LIVANOVA PLC


Date: August 6, 2025	By:	/s/ VLADIMIR MAKATSARIA
		Vladimir Makatsaria
		Chief Executive Officer
		(Principal Executive Officer)


	LIVANOVA PLC


Date: August 6, 2025	By:	/s/ ALEX SHVARTSBURG
		Alex Shvartsburg
		Chief Financial Officer
		(Principal Accounting and Financial Officer)