Integra LifeSciences (NASDAQ: IART) saw its stock price plummet by 6.03% in pre-market trading on Thursday following the release of its third-quarter earnings report. The medical device company's performance fell short of Wall Street expectations, leading to a significant market reaction.

The company reported Q3 revenue of $402.1 million, representing a 5.6% year-on-year growth but missing analyst estimates of $414.2 million. Despite beating earnings expectations with an adjusted EPS of $0.54 compared to the anticipated $0.43, investors seemed more concerned with the top-line miss and lowered guidance.

Adding to the negative sentiment, Integra LifeSciences lowered its outlook for the upcoming quarter and full year. The company now expects Q4 revenue between $420 million and $440 million, with a midpoint of $430 million falling well below the analyst consensus of $457 million. Furthermore, management reduced its full-year adjusted EPS guidance to $2.22 at the midpoint, representing a 1.1% decrease from previous projections. These revisions suggest ongoing challenges in the company's operating environment, likely contributing to the sharp stock decline.