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Artivion Reports First Quarter 2025 Financial Results

Artivion, Inc. (NYSE: AORT), a pioneer in cardiac and vascular surgical solutions, has released its financial results for the first quarter of 2025, ending March 31. The company recorded a 2% revenue growth, totaling $99.0 million as compared to $97.4 million for the same period in 2024. This improvement reflects a robust operational recovery following the prior year's cybersecurity incident.

Key Highlights

The results showcased a slight net loss of $(0.5) million or $(0.01) per diluted share, a significant contrast to the $7.5 million net income realized in Q1 of 2024. However, Artivion reported a non-GAAP net income of $2.5 million, equivalent to $0.06 per diluted share. Adjusted EBITDA experienced a modest increase of 1%, rising to $17.5 million compared to $17.3 million in the previous year’s first quarter.

Artivion's growth trajectory is evident, with stent graft revenues increasing by 14%, On-X sales up by 10%, and BioGlue seeing a 7% rise compared to the first quarter of 2024. When accounting for constant currency, stent grafts, On-X, and BioGlue surged by 19%, 11%, and 9% respectively, signaling the company’s strengthening position in the market.

Challenges in Preservation Services

Despite the overall positive outlook, preservation services experienced a 23% revenue drop, primarily due to a backlog in tissue processing operations linked to the cybersecurity incident. Fortunately, Artivion has made significant strides in returning to expected tissue processing timelines, surpassing expectations and aiding in improved performance for the quarter.

Pat Mackin, Chairman and CEO, expressed satisfaction with the company’s achievements, noting, "I am pleased with our first quarter results as we returned to normal operations while making substantial progress on our strategic growth initiatives."

Strategic Lay-Out for 2025

The company has adjusted its revenue guidance upwards for 2025, now forecasted between $423 million and $435 million, illustrating expected growth rates of 11% to 14% on a constant currency basis. Artivion also anticipates its adjusted EBITDA to grow between 18% and 28%, culminating in an estimated $84 million to $91 million for the year.

Moreover, positive outcomes from Endospan's recent clinical trial for the NEXUS aortic stent graft system were presented at the AATS Annual Meeting and demonstrated promising data for a reduction in major adverse events when compared to its performance goals. The data brings the NEXUS system one step closer to FDA approval, projected for the second half of 2026.

Looking Ahead

As Artivion continues to address the challenges and capitalize on growth opportunities in the aortic disease space, it is strategically positioned to enhance its market presence and deliver value to its stakeholders. With a dedicated focus on improving operational efficiency and product innovation, the coming months will be crucial in shaping the future trajectory of Artivion.

For further details on the financial results, Artivion will conduct a teleconference and live webcast today, May 5, 2025, at 4:30 PM ET. Participants can expect in-depth discussions and insights related to the company’s performance and strategic initiatives.

To learn more about Artivion’s products and progress, visit their official website at www.Artivion.com.