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Envista Holdings Corporation logo

Envista Holdings Corporation

envistaco.com

What Do They Do?

Makes dental implants and orthodontic products, including aligners and related software, for dental specialists and other dental professionals; also sells dental imaging equipment and general dental supplies to dental offices, clinics, and hospitals.

How Do They Make Money?

Customers generally pay for dental equipment, consumables, and spare parts when products ship. They pay over the term of extended warranties and service arrangements; the company may also receive cash in advance.

revenue
SegmentShareRevenue
Specialty Products & Technologies
Mix

64%
FY2022: 62%
Equipment & Consumables
Mix

36%
FY2022: 38%

Who Are Their Customers?

Dental specialists, general dentists, dental laboratories, and dental service organizations buy the company’s products. Specialty products are typically sold directly to end users, while Equipment & Consumables products mainly go through channel partners; third-party distributors also distribute products.

Customers above 10% of revenue, FY2025
of revenue from one customer
FY2024: 10% from one customer

Do Revenues Turn Into Profits?

Yes. It kept 2 cents of every revenue dollar as net income in FY2025 and turned 8 cents into free cash flow.

Operating income, FY2025
8% of revenue
▲ Now profitable vs FY2024 (−$1B, −41%)
Net income, FY2025
2% of revenue
▲ Now profitable vs FY2024 (−$1.1B, −45%)
Free cash flow, FY2025
8% of revenue
▼ −24% vs FY2024 ($302.7M, 12%)

How Are They Changing?

Since the FY2025 annual report
Latest quarter: Q2 FY2026, the three months to Jul 3, 2026
Revenue
▲ +7%
vs $682.1M in Q2 FY2025
Net income
▲ +103%
vs $26.4M in Q2 FY2025
Specialty Products & Technologies share of revenue vs 65.3% in Q2 FY2025
  • Aug 19, 2026 CEO Paul Keel became board chair Paul Keel was appointed Chair of the Board, succeeding Scott Huennekens, who remains a director and Lead Independent Director.
  • Aug 5, 2026 Raised full-year 2026 outlook The company raised its core sales growth, adjusted EBITDA growth, and adjusted diluted earnings per share guidance.

Growing. Revenue grew 8% in 4 years, from $2.5B in FY2021 to $2.7B in FY2025, about 2% a year.

Revenue over time
Specialty Products & Technologies Equipment & Consumables
$5B$2.5B$0

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