Financial Performance - For the year ended December 31, 2025, Artivion reported annual revenues of $441.3 million, a 14% increase from the prior year, with a 13% increase when excluding foreign exchange effects[262]. - Revenue from aortic stent grafts increased by 29% to $159.4 million, contributing 36% of total revenues in 2025[270]. - On-X product revenues rose by 21% to $101.7 million, accounting for 23% of total revenues[270]. - Surgical sealants revenue increased by 4% to $76.6 million, representing 17% of total revenues[270]. - Preservation services revenue decreased by 3% to $95.5 million, making up 22% of total revenues[270]. - The company reported a net income of $9.8 million for the year ended December 31, 2025[262]. - Total revenues for 2025 included a reduction of $2.3 million from Italian government payback reserves[270]. - Revenues from products increased by 19% for the year ended December 31, 2025, compared to 2024, driven by aortic stent grafts, On-X products, and surgical sealants[272]. - Revenues from aortic stent grafts increased by 29% for the year ended December 31, 2025, primarily due to an increase in volume of units sold[275]. - Revenues from On-X products increased by 21% for the year ended December 31, 2025, due to higher unit sales and average sales prices[278]. - Revenues from surgical sealants increased by 4% for the year ended December 31, 2025, attributed to higher average sales prices and volume sold[282]. - Other revenues decreased by 12% for the year ended December 31, 2025, primarily due to unfavorable impacts from Italian payback reserves[285]. - Revenues from tissue processing decreased by 3% for the year ended December 31, 2025, due to a backlog of tissues from a cybersecurity incident[289]. - Gross margin increased by 14% for the year ended December 31, 2025, with gross margin as a percentage of total revenues remaining at 64%[293]. Regulatory and Compliance Risks - The company is significantly dependent on revenues from tissue preservation services, which are subject to various regulatory risks[167]. - BioGlue is a significant revenue source, facing risks from competition and regulatory scrutiny due to its animal-derived components[169]. - The approval process for BioGlue in China took longer than expected, delaying revenue recognition until Q2 2025[172]. - Aortic stent grafts represent a significant revenue source, with risks related to market demand and regulatory approvals[173]. - Regulatory changes regarding tissue preservation could significantly reduce the supply of safe implantable human tissue, affecting revenues[168]. - The company is subject to stringent global quality and regulatory risks, including compliance with the European Union's Medical Device Regulation (MDR), which could delay or impede product commercialization[202]. - The transition to the MDR has faced significant challenges, including delays in audits and approvals, which may adversely affect the company's ability to supply products in certain jurisdictions[203]. - The company successfully renewed certain CE Marks under the MDR despite the extended timeline causing some MDD-based CE Marks to expire[204]. - Regulatory agencies may require changes to operations or issue product recalls, which could lead to increased scrutiny and impact business operations[203]. - The FDA's proposed reclassification of the CryoValve SG pulmonary heart valve to Class III could make its processing commercially infeasible, with a potential 30-month timeline to submit a PMA application[206][207]. - The company is subject to various healthcare compliance laws, and any violations could result in significant fines, penalties, and reputational harm[216][217]. - Increased environmental regulations regarding EtO and PFAS could impose significant compliance burdens and impact the company's ability to commercialize products[213][215]. Operational and Supply Chain Challenges - The company is exposed to public health crises, which can impact healthcare system capacity and demand for products[178]. - The global supply chain is vulnerable to disruptions from geopolitical and trade issues, particularly due to instability in Ukraine and the Middle East[181]. - The company faces intense competition from established medical device companies with greater resources, impacting its market position[164]. - The company relies on approximately 60 organ and tissue procurement organizations (OPOs) and tissue banks in the US for tissue donations, which are critical for its preservation services business[185]. - The company has three internal manufacturing facilities located in Austin, Texas; Hechingen, Germany; and Kennesaw, Georgia, with certain products manufactured by external suppliers[187]. - The company faces significant risks related to cybersecurity threats, having experienced a cybersecurity incident in Q4 2024 that disrupted operations and impacted revenue[198]. - The company has limited cyber-insurance coverage, which may not cover all potential events or financial losses associated with security breaches[200]. - The company continues to evaluate expansion through acquisitions and partnerships, which may carry significant risks and impact market value[190]. - The company faces challenges in attracting and retaining a specialized workforce, which is critical for its operations and future growth[189]. - The company may incur additional costs and risks associated with business development activities, including potential impairments and unfavorable financial adjustments[193]. Financial Position and Capital Management - The company has pledged substantially all of its US assets as collateral under its existing Credit Agreement, which could impact its ability to repay indebtedness if default occurs[229]. - The Cybersecurity Incident in Q4 2024 had a $4.6 million impact on the company's results for the year ended December 31, 2024, and a $4.3 million impact for the year ended December 31, 2025, net of recoveries of $3.2 million[244]. - The company has incurred expenses related to improving its global cybersecurity infrastructure following the Cybersecurity Incident, indicating ongoing investment in cybersecurity[243]. - The company may need to seek additional debt or equity financing to execute its strategic plan, but current levels of indebtedness could limit operational flexibility[228]. - Stockholder activism could disrupt the company's business and divert management's attention, potentially affecting business opportunities and stock price[230]. - As of December 31, 2025, total nominal indebtedness outstanding was approximately $220.0 million, with cash and cash equivalents of $64.9 million[308]. - The company entered into a credit agreement for $350.0 million, which includes a $190.0 million secured term loan facility and a $60.0 million revolving credit facility[311]. - As of December 31, 2025, Artivion's total assets increased to $884.8 million from $789.1 million in 2024, representing an increase of approximately 12.1%[356]. - The company's cash and cash equivalents rose to $64.9 million in 2025, up from $53.5 million in 2024, marking a growth of 21.9%[357]. - Trade receivables increased to $89.8 million in 2025, compared to $79.5 million in 2024, reflecting a growth of 12.9%[357]. - Inventories grew to $92.4 million in 2025, up from $79.8 million in 2024, indicating a rise of 15.8%[357]. - Deferred preservation costs reached $54.5 million in 2025, compared to $51.7 million in 2024, an increase of 5.5%[342]. - Total current liabilities increased to $101.6 million in 2025 from $66.8 million in 2024, a significant rise of 52.0%[359]. - Long-term debt decreased to $215.1 million in 2025 from $314.2 million in 2024, a reduction of 31.6%[359]. - Stockholders' equity increased to $448.2 million in 2025, up from $276.2 million in 2024, representing a growth of 62.2%[359]. Internal Controls and Audit - Artivion's internal controls over financial reporting were assessed as effective as of December 31, 2025, based on the COSO criteria[349]. - The independent auditor, Ernst & Young, issued an unqualified opinion on the effectiveness of Artivion's internal controls over financial reporting as of December 31, 2025[337].

Core Viewpoint - Artivion (AORT) reported quarterly earnings of $0.17 per share, exceeding the Zacks Consensus Estimate of $0.14 per share, compared to break-even earnings per share a year ago, indicating a positive earnings surprise of +21.43% [1] Financial Performance - The company posted revenues of $115.99 million for the quarter ended December 2025, which missed the Zacks Consensus Estimate by 1.07%, but showed an increase from year-ago revenues of $97.31 million [2] - Over the last four quarters, Artivion has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times as well [2] Stock Performance - Artivion shares have declined approximately 12.1% since the beginning of the year, while the S&P 500 has gained 1.4% [3] - The current Zacks Rank for Artivion is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.06 on revenues of $114.9 million, and for the current fiscal year, it is $0.66 on revenues of $492.45 million [7] - The estimate revisions trend for Artivion was mixed ahead of the earnings release, which could change following the recent report [6] Industry Context - The Medical - Instruments industry, to which Artivion belongs, is currently in the top 34% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8]

Artivion (NYSE:AORT) Q4 2025 Earnings call February 12, 2026 04:30 PM ET Company ParticipantsBill Plovanic - Managing Director and Healthcare Equity ResearchDaniel Stoter - VP of Equity ResearchLance Berry - COO and CFOLane Morgan - Associate Vice PresidentPat Mackin - CEOConference Call ParticipantsJohn McCalley - Equity Research AnalystMike Matson - Managing Director and Senior Equity Research AnalystNone - AnalystNone - AnalystOperatorGood afternoon, and welcome to the Artivion fourth quarter and year-en ...

Artivion (NYSE:AORT) Q4 2025 Earnings call February 12, 2026 04:30 PM ET Company ParticipantsBill Plovanic - Managing Director and Healthcare Equity ResearchDaniel Stauder - VP of Equity ResearchLance Berry - COO and CFOLane Morgan - Associate Vice PresidentPat Mackin - CEOConference Call ParticipantsJohn McCalley - Equity Research AnalystMike Matson - Managing Director and Senior Equity Research AnalystNone - AnalystNone - AnalystOperatorGood afternoon, and welcome to the Artivion Q4 and Year-end 2025 Earn ...

Artivion (NYSE:AORT) Q4 2025 Earnings call February 12, 2026 04:30 PM ET Speaker3Good afternoon, and welcome to the Artivion fourth quarter and year-end 2025 earnings call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. I would now like to turn the conference o ...

4Q 2025 Earnings Presentation February 12, 2026 1 © 2026 Artivion, Inc. FORWARD-LOOKING STATEMENT Statements made in this presentation that look forward in time or that express management's beliefs, expectations, or forecasts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the views of management at the time such statements are made. These statements include our beliefs and expectations about our future revenu ...

Financial Performance - GAAP revenue for Q4 2025 was $116.0 million, up from $97.3 million in Q4 2024, while full year GAAP revenue reached $441.3 million compared to $388.5 million in 2024[3]. - Adjusted revenue for Q4 2025 was $118.3 million, reflecting an 18% increase on an adjusted constant currency basis compared to Q4 2024, and full year adjusted revenue was $443.6 million, a 13% increase[3]. - GAAP net income for Q4 2025 was $2.4 million, or $0.05 per fully diluted share, compared to a net loss of $(16.5) million, or $(0.39) per fully diluted share in Q4 2024; full year net income was $9.8 million versus a net loss of $(13.4) million in 2024[3][8]. - Non-GAAP net income for Q4 2025 was $8.6 million, or $0.17 per fully diluted share, compared to $0.2 million, or $0.00 per fully diluted share in Q4 2024; full year non-GAAP net income was $29.7 million compared to $10.8 million in 2024[7][8]. - Adjusted EBITDA for Q4 2025 increased 29% to $22.7 million from $17.6 million in Q4 2024, and for the full year, adjusted EBITDA rose 26% to $89.6 million[3][5]. - Total revenues for the year ended December 31, 2025, increased to $441.33 million, up 13.5% from $388.54 million in 2024[29]. - Net income for the year ended December 31, 2025, was $9.77 million, compared to a net loss of $13.36 million in 2024[29]. - Total revenues for the three months ended December 31, 2025, were $118.305 million, an 18% increase from $99.840 million in the prior year[32]. - Adjusted EBITDA for the three months ended December 31, 2025, was $22.722 million, compared to $17.606 million in the same period of 2024[34]. - Adjusted net income for the year ended December 31, 2025, reached $29,741 million, compared to $10,768 million in 2024, reflecting a year-over-year increase of approximately 175%[36]. Revenue Growth - Stent grafts revenue grew by 44%, On-X by 25%, and preservation services by 6% in Q4 2025 compared to Q4 2024, driving overall revenue growth[5]. - North America contributed $221.742 million to total revenues for the year, a 12% increase from $197.724 million in the prior year[31]. - Aortic stent grafts generated $43.343 million in revenue for the three months ended December 31, 2025, up 36% from $31.987 million in the prior year[31]. - On-X products saw a revenue increase of 24%, reaching $27.797 million compared to $22.474 million in the previous year[31]. Future Projections - Artivion expects 2026 revenues to be between $486 million and $504 million, representing a growth of 10% to 14% on an adjusted constant currency basis compared to 2025[9]. - The company anticipates adjusted EBITDA growth of 18% to 22% for 2026, resulting in an expected range of $105 million to $110 million[9]. Expenses and Costs - Operating income for the year ended December 31, 2025, was $33.75 million, a decrease of 13.5% from $38.87 million in 2024[29]. - Research and development expenses for the year ended December 31, 2025, were $30.99 million, up from $28.45 million in 2024, indicating a growth of 8.9%[29]. - General, administrative, and marketing expenses for the three months ended December 31, 2025, were $56.841 million, up from $51.429 million in the prior year[34]. - The company incurred $3,484 million in amortization expenses for the three months ended December 31, 2025, down from $4,205 million in the same period of 2024[36]. - Business development, integration, and severance costs amounted to $5,151 million for the three months ended December 31, 2025, compared to $5,821 million in 2024[36]. Balance Sheet and Cash Flow - Cash and cash equivalents at the end of 2025 increased to $64.91 million, up from $53.46 million at the end of 2024[27]. - Total current assets rose to $358.08 million in 2025, compared to $290.08 million in 2024, reflecting a growth of 23.4%[23]. - Total liabilities decreased to $436.56 million in 2025 from $512.90 million in 2024, a reduction of 15.0%[25]. - The company’s total stockholders' equity increased to $448.23 million in 2025, up from $276.20 million in 2024, reflecting a growth of 62.2%[25]. - Free cash flows for the year ended December 31, 2025, were $839 thousand, a decrease from $11.048 million in 2024[34]. Clinical and Regulatory Developments - Positive clinical data from Endospan's NEXUS TRIOMPHE IDE trial showed 94% patient survival and 91% free from disabling stroke at one year post-treatment[6]. - The company filed the fourth and final module of the pre-market approval application (PMA) to the FDA for the AMDS Hybrid Prothesis[3]. Other Notable Events - The company experienced a cybersecurity incident with a net impact of $(2,880) million for the three months ended December 31, 2025, compared to a positive recovery of $4,583 million in the same period of 2024[36]. - The tax expense calculated at a 25% tax rate for adjusted income was $2,858 million for the three months ended December 31, 2025, compared to $66 million in 2024[36].

statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the views of management at the time such statements are made. These statements include, but are not limited to, our beliefs and expectations about our revenue, year-over-year growth and growth drivers, earnings, currency impacts, and other financial measures and related information; our anticipated capital needs and capital structure; our beliefs about our competitive advantages and ...

Core Insights - Artivion, Inc. presented new clinical data from the NEXUS TRIOMPHE IDE trial and AMDS PERSEVERE IDE trial, showcasing high patient survival rates and low morbidity in patients with aortic disease [1][2]. NEXUS TRIOMPHE IDE Trial - The trial involved 94 patients, revealing a 94% survival rate from lesion-related death and 91% freedom from disabling stroke at one year post-treatment [2][3]. - 97% of patients were free from reintervention due to endoleaks, with no occurrences of renal failure and only one case of paraplegia reported [2][3]. - The patient cohort was classified as high risk for open surgery, with 40% in ASA risk class III and 57% in class IV [3]. AMDS PERSEVERE IDE Trial - The trial included 93 participants, demonstrating a 94% survival rate from lesion-related death and 91% freedom from disabling stroke at both one and two years [4][5]. - No reinterventions were required for device integrity loss, migration, or aortic rupture, and 97% of patients were free from reintervention due to endoleaks [4][5]. - The trial reported minimal additional mortality, with only four deaths due to unrelated causes, and a stable total aortic diameter with a mean change of less than 2mm [5][6]. Company Overview - Artivion, Inc. is focused on developing solutions for cardiac and vascular surgeons addressing aortic diseases, with a product portfolio that includes aortic stent grafts, surgical sealants, mechanical heart valves, and implantable tissues [8]. - The company markets its products in over 100 countries worldwide [8].

Core Viewpoint - Artivion, Inc. is set to release its fourth quarter 2025 financial results on February 12, 2026, after market close, followed by a teleconference to discuss the results [1]. Financial Results Announcement - The financial results will be released on February 12, 2026, after market close [1]. - A teleconference call and live webcast will take place at 4:30 p.m. ET on the same day, hosted by Pat Mackin, the Chairman, President, and CEO of Artivion [1]. Teleconference Details - To participate in the live teleconference, interested parties should dial 201-689-8261 a few minutes before the scheduled time [2]. - A replay of the teleconference will be available approximately one hour after the event, accessible by calling toll-free 877-660-6853 or 201-612-7415, with the conference number 13758212 [2]. Webcast and Earnings Release Access - The live webcast and its replay can be accessed through the Investors section of Artivion's website [3]. - A copy of the earnings press release, containing financial and statistical information for the quarter and full year, will also be available in the Investors section of the website [3]. Company Overview - Artivion, Inc. is headquartered in suburban Atlanta, Georgia, and focuses on developing solutions for cardiac and vascular surgeons dealing with aortic diseases [4]. - The company offers four major product groups: aortic stent grafts, surgical sealants, On-X mechanical heart valves, and implantable cardiac and vascular human tissues [4]. - Artivion markets its products in over 100 countries worldwide [4].