Core Insights - Artivion (NYSE:AORT) exceeded Wall Street's revenue expectations for Q3 CY2025, reporting sales of $113.4 million, which represents an 18.4% year-on-year growth and a 2.6% beat against analyst estimates [1][7] - The company raised its full-year revenue guidance to $442 million at the midpoint, slightly above analysts' expectations [1][7] - Non-GAAP profit per share was reported at $0.16, aligning with consensus estimates [1][7] Revenue Growth - Artivion achieved a 16% constant currency revenue growth in Q3, driven by significant year-over-year increases in stent grafts (38%), On-X (25%), preservation services (5%), and BioGlue (2%) compared to Q3 2024 [3] - The company has demonstrated a 10.6% annualized revenue growth over the last five years, which is slightly above the average for healthcare companies, indicating strong customer resonance [5] - Over the last two years, Artivion's annualized revenue growth was 11.5%, consistent with its five-year trend, suggesting stable demand [6] Financial Performance - Adjusted EBITDA for Q3 was $24.57 million, exceeding analyst estimates of $22.25 million, with a margin of 21.7% [7] - Operating margin improved to 11.1%, up from 4.6% in the same quarter last year, while free cash flow margin increased to 15.6%, up from 8.2% year-on-year [7] - Market capitalization stands at $2.19 billion [7]

3Q 2025 Earnings Presentation November 6, 2025 1 © 2025 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 revenue ...

Financial Performance - Artivion reported third quarter 2025 revenue of $113.4 million, an increase of 18% on a GAAP basis and 16% on a non-GAAP constant currency basis compared to Q3 2024[6] - Net income for Q3 2025 was $6.5 million, or $0.13 per fully diluted share, compared to a net loss of $(2.3) million, or $(0.05) per fully diluted share in Q3 2024[8] - Adjusted EBITDA increased by 39% to $24.6 million in Q3 2025, up from $17.7 million in Q3 2024[6] - Total revenues for the three months ended September 30, 2025, increased to $113,388,000, up 18.4% from $95,779,000 in the same period of 2024[26] - Gross margin for the three months ended September 30, 2025, was $74,395,000, representing a 65.6% margin compared to $61,009,000 in 2024[26] - Operating income for the three months ended September 30, 2025, rose to $12,536,000, compared to $4,387,000 in 2024, marking a 185.5% increase[26] - Total product revenues for the nine months ended September 30, 2025, were $253.907 million, reflecting a 17% increase from $215.568 million in the same period of 2024[30] - Free cash flows for Q3 2025 amounted to $17.653 million, significantly higher than $7.816 million in Q3 2024[30] Revenue Breakdown - Stent grafts revenue grew by 38%, On-X by 25%, preservation services by 5%, and BioGlue by 2% year-over-year in Q3 2025[4] - Aortic stent grafts generated $39.585 million in Q3 2025, up 31% from $28.643 million in Q3 2024[28] - On-X product revenues increased by 23% to $26.797 million in Q3 2025, compared to $21.478 million in Q3 2024[28] - Preservation services revenues decreased by 5% to $71.431 million for the nine months ended September 30, 2025, compared to $75.661 million in the same period of 2024[30] Guidance and Projections - Artivion raised its full year 2025 revenue guidance to a range of $439 to $445 million, reflecting constant currency growth of 13% to 14%[9] - The company also raised its adjusted EBITDA guidance for 2025, now expecting growth of 24% to 28%, with adjusted EBITDA projected to be between $88 to $91 million[10] - Artivion aims to grow adjusted EBITDA at twice the rate of constant currency revenue growth, indicating strong operational momentum[7] Clinical and Operational Developments - Artivion enrolled the first patient in the ARTIZEN trial for Arcevo, marking a significant milestone in its clinical programs[6] - Positive clinical data from AMDS PERSEVERE and PROTECT trials were presented, validating the benefits of AMDS technology[5] Balance Sheet and Cash Flow - Cash and cash equivalents increased to $73,426,000 as of September 30, 2025, up from $53,463,000 at the end of 2024[22] - Total current assets reached $337,498,000 as of September 30, 2025, compared to $290,080,000 at the end of 2024, reflecting a 16.3% increase[22] - Total liabilities decreased to $418,968,000 as of September 30, 2025, down from $512,901,000 at the end of 2024[22] - Total assets increased to $857,662,000 as of September 30, 2025, from $789,101,000 at the end of 2024, representing an 8.7% growth[22] Expenses - Research and development expenses for the three months ended September 30, 2025, were $8,078,000, up from $6,605,000 in 2024, indicating a 22.3% increase[26] - General, administrative, and marketing expenses increased to $57.281 million in Q3 2025 from $50.017 million in Q3 2024[30] - The company reported a comprehensive income of $7,043,000 for the three months ended September 30, 2025, compared to $4,045,000 in 2024[26]

Core Insights - Artivion, Inc. reported strong financial performance in Q3 2025, achieving 16% constant currency revenue growth driven by significant increases in stent grafts and On-X products [2][4][12] - The company is raising its full-year 2025 revenue and adjusted EBITDA guidance, reflecting confidence in continued growth [5][6] Financial Performance - Total revenues for Q3 2025 were $113.4 million, an 18% increase on a GAAP basis and a 16% increase on a non-GAAP constant currency basis compared to Q3 2024 [4][12] - Net income for Q3 2025 was $6.5 million, or $0.13 per fully diluted share, compared to a net loss of $(2.3) million in Q3 2024 [4][12] - Adjusted EBITDA increased by 39% to $24.6 million in Q3 2025 compared to $17.7 million in Q3 2024 [12] Product Performance - Revenue growth was primarily driven by stent grafts, which grew by 38%, and On-X products, which grew by 25% year-over-year [2][12] - Preservation services and BioGlue also contributed to revenue growth, with increases of 5% and 2%, respectively [2] Strategic Initiatives - The company enrolled the first patient in the ARTIZEN trial for Arcevo, marking a significant milestone in its clinical programs [3] - Artivion presented new favorable clinical data from its AMDS PERSEVERE and PROTECT trials, further validating the benefits of its AMDS technology [3] Financial Outlook - Artivion raised its full-year 2025 revenue guidance to a range of $439 to $445 million, expecting constant currency growth of 13% to 14% [5] - The adjusted EBITDA guidance was also raised, now expecting growth between 24% and 28% for the full year 2025 [6]

Investment Activity - Oppenheimer Asset Management Inc. purchased 21,513 shares of Artivion, Inc. valued at approximately $669,000, representing about 0.05% ownership at the end of the last quarter [2] - MCF Advisors LLC increased its holdings by 109.3%, now owning 1,176 shares worth $29,000 after buying an additional 614 shares [2] - Other institutional investors, including EntryPoint Capital LLC, Natixis Advisors LLC, and Zurcher Kantonalbank Zurich Cantonalbank, also increased their stakes in Artivion during the first quarter [2] Analyst Ratings - Citigroup maintained an "outperform" rating for Artivion [3] - Needham & Company raised the price target from $45.00 to $50.00 and assigned a "buy" rating [3] - The average rating for Artivion is "Moderate Buy" with a consensus target price of $43.97 [3] Stock Performance - Artivion's stock opened at $45.41, with a 52-week low of $21.97 and a high of $46.19 [4] - The company has a market capitalization of $2.14 billion and a PE ratio of -108.12 [4] Financial Results - Artivion reported $0.24 EPS for the last quarter, exceeding estimates of $0.11 by $0.13 [5] - Revenue for the quarter was $112.97 million, up 15.3% year-over-year, surpassing estimates of $107.96 million [5] - The company has set its FY 2025 guidance at EPS, with analysts forecasting $0.37 for the current fiscal year [5] Insider Transactions - SVP Jean F. Holloway sold 23,356 shares at an average price of $43.01, totaling approximately $1,004,541.56, reducing ownership by 11.95% [6] - SVP Marshall S. Stanton sold 18,200 shares at an average price of $44.02, totaling approximately $801,164.00, representing a 22.09% decrease in position [6] - Insiders have sold a total of 74,858 shares worth $3,250,129 over the last three months, with insiders owning 7.60% of the stock [6] Company Overview - Artivion, Inc. manufactures and distributes medical devices and implantable human tissues, including BioGlue and aortic arch stent grafts [8]

Core Insights - Artivion, Inc. will participate in the Stifel 2025 Healthcare Conference on November 12, 2025, with a fireside chat scheduled for 8:00 a.m. ET [1] Company Overview - Artivion, Inc. is headquartered in suburban Atlanta, Georgia, and focuses on developing solutions for cardiac and vascular surgeons addressing aortic diseases [2] - The company offers four major product groups: aortic stent grafts, surgical sealants, On-X mechanical heart valves, and implantable cardiac and vascular human tissues [2] - Artivion markets and sells its products in over 100 countries worldwide [2]

Core Insights - The Alger Weatherbie Specialized Growth Fund's Class A shares underperformed the Russell 2500 Growth Index in Q3 2025, despite the S&P 500 Index rising by 8.12% [1] Company Overview - Artivion, Inc. (NYSE:AORT) is a global manufacturer and distributor of medical devices and implantable human tissues, focusing on cardiac and vascular surgeries for patients with aortic disease [3] - The company reported total revenues of $113 million for Q2 2025, marking an increase of over 14% compared to Q2 2024 [4] Stock Performance - Artivion, Inc. experienced a one-month return of 6.90% and a significant 69.32% increase in share value over the last 52 weeks, closing at $45.26 per share on October 28, 2025, with a market capitalization of $2.136 billion [2] Fund Performance and Holdings - The Alger Weatherbie Specialized Growth Fund highlighted Artivion, Inc. as a positive contributor during the quarter, driven by strong fiscal second-quarter earnings and an improved full-year outlook [3] - The fund's top five holdings can provide insights into its best investment picks for 2025 [1]

Core Insights - Artivion, Inc. will release its third quarter 2025 financial results on November 6, 2025, after market close, followed by a teleconference at 4:30 p.m. ET [1] - The company specializes in cardiac and vascular surgery, focusing on aortic disease, and offers a range of products including aortic stent grafts and mechanical heart valves [3] Financial Results Announcement - The financial results will be discussed in a teleconference led by Pat Mackin, the Chairman, President, and CEO of Artivion [1] - A replay of the teleconference will be available shortly after the event, with specific access numbers provided [2] Company Overview - Artivion is headquartered in suburban Atlanta, Georgia, and operates in over 100 countries [3] - The company develops solutions for cardiac and vascular surgeons, addressing challenges in treating aortic diseases [3]

Core Insights - The AMDS PERSEVERE trial demonstrated a resolution of visceral malperfusion in 83% and renal malperfusion in 74% of affected subjects after AMDS implantation, indicating significant clinical efficacy [2][4][7] - Real-world data from the AMDS PROTECT trial corroborated the positive outcomes observed in the PERSEVERE trial, showcasing excellent clinical results consistent with previous studies [6][9] AMDS PERSEVERE Trial Findings - The trial focused on patients with acute DeBakey Type I aortic dissection and assessed the effectiveness of the AMDS hybrid prosthesis in resolving visceral and renal malperfusion [4][8] - Among the 40 study participants, 83% with pre-operative visceral malperfusion did not experience significant gastrointestinal events, and 74% with renal malperfusion did not require dialysis [7][8] AMDS PROTECT Trial Findings - The PROTECT trial included 141 patients and reported outcomes such as a 12.6% rate of disabling stroke and a 4.2% rate of renal failure requiring dialysis, both of which are significantly lower than the rates in the STS Adult Cardiac Surgery Database [6][9] - The trial also noted no occurrences of paralysis, aortic rupture, or myocardial infarction, with 95.3% to 100% of patients experiencing positive remodeling of the aorta [6][9] Company Statements - Dr. Michael Moon emphasized the importance of the AMDS technology in improving outcomes for critically ill patients [3] - Pat Mackin highlighted the strong presence of the company at the EACTS meeting and reaffirmed the commitment to innovation in aortic disease treatment [3] Market Opportunity - Approximately 48,000 patients suffer from acute DeBakey Type I aortic dissections annually, representing a market opportunity of $150 million in the U.S. and $540 million globally [11]

Company Overview - Artivion is an aorta-focused company that specializes in heart valves for patients under the age of 65, along with products to treat aortic aneurysms and dissections [3] - The company has a revenue of over $400 million, with a midpoint guidance of $440 million for the current year and an EBITDA margin of approximately 20% [3] Financial Objectives - The company's goal is to achieve double-digit growth for the business in the foreseeable future and to grow EBITDA at twice the rate of sales [4] - Artivion has significant leverage opportunities, particularly in general and administrative expenses, which is common for companies of its size [4]