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Artivion(AORT) - 2025 Q1 - Earnings Call Presentation
2025-05-05 20:22
Financial Performance - Artivion reported Q1 2025 revenue of $99 million[10] - The company achieved 4% year-over-year constant currency revenue growth in Q1 2025[10] - Adjusted EBITDA for Q1 2025 was $175 million, a 1% increase year-over-year[10] - The company raised the midpoint of FY25 revenue guidance to a range of $423 million to $435 million, representing 11% to 14% year-over-year growth[13] - The company expects FY25 adjusted EBITDA to be in the range of $84 million to $91 million, growing 18% to 28% over FY24[13] Product and Geographic Growth - Stent grafts showed 19% year-over-year constant currency revenue growth[11] - On-X saw 11% year-over-year constant currency revenue growth[11] - BioGlue experienced 9% year-over-year constant currency revenue growth[11] - Latin America experienced 26% constant currency revenue growth[17] Clinical Trial and Regulatory Updates - The NEXUS TRIOMPHE trial demonstrated a 63% reduction in major adverse event rate compared to the reference performance goal[12, 18] - PMA approval for NEXUS TRIOMPHE is expected in the second half of 2026[12] - 30-day data demonstrate AMDS induced positive aortic remodeling in over 80% of patients[29]
Artivion(AORT) - 2025 Q1 - Quarterly Results
2025-05-05 20:08
Financial Performance - Total revenues for Q1 2025 were $99.0 million, a 2% increase on a GAAP basis and a 4% increase on a non-GAAP constant currency basis compared to Q1 2024[7]. - Net loss for Q1 2025 was $(0.5) million, or $(0.01) per fully diluted share, compared to net income of $7.5 million, or $0.18 per fully diluted share in Q1 2024[8]. - Adjusted EBITDA for Q1 2025 increased by 1% to $17.5 million compared to $17.3 million in Q1 2024[5]. - Total revenues for the three months ended March 31, 2025, were $98,978, a 4% increase from $97,431 in the same period of 2024[25]. - Adjusted EBITDA for the three months ended March 31, 2025, was $17,548, compared to $17,312 in the same period of 2024[29]. - For the three months ended March 31, 2025, the company reported a net loss of $505 million compared to a net income of $7,533 million in the same period of 2024[31]. - The diluted loss per common share for the current quarter was $(0.01), a decrease from $0.18 in the prior year[31]. - Adjusted net income, non-GAAP, was $2,494 million, slightly down from $2,632 million in the previous year[31]. - The adjusted diluted income per common share, non-GAAP, remained stable at $0.06 for both periods[31]. Revenue Growth - Stent grafts revenue grew by 14%, On-X by 10%, and BioGlue by 7% year-over-year, with constant currency growth rates of 19%, 11%, and 9% respectively[4]. - Aortic stent grafts revenue increased by 14% to $36,602 from $32,103 year-over-year[27]. - The company raised its full-year 2025 revenue guidance to a range of $423 to $435 million, representing growth of 11% to 14% on a constant currency basis compared to 2024[9]. Expenses and Liabilities - General, administrative, and marketing expenses increased to $54.7 million in Q1 2025 from $30.7 million in Q1 2024[19]. - Cash and cash equivalents decreased to $37,693 as of March 31, 2025, from $53,463 at the end of 2024[23]. - Total current liabilities decreased to $51,940 from $66,823 year-over-year[23]. - Long-term debt remained stable at $314,611 compared to $314,152 year-over-year[21]. Cybersecurity Incident - The company experienced a significant cybersecurity incident, which contributed $4,746 million to the adjustments in the income statement[31]. Clinical and Regulatory Updates - 30-day data from Endospan's NEXUS TRIOMPHE IDE trial showed a 63% reduction in the major adverse event (MAE) rate compared to reference performance goals[5]. - The clinical module of the pre-market approval application (PMA) for the AMDS Hybrid Prosthesis has been submitted to the FDA[5]. - The company anticipates NEXUS to be on track for FDA approval in the second half of 2026[6]. Cash Flow and Other Financial Metrics - Free cash flows for the three months ended March 31, 2025, were $(20,591), compared to $(9,104) in the same period of 2024[29]. - Total assets increased to $791,163 as of March 31, 2025, from $789,101 at the end of 2024[21]. - Business development, integration, and severance income showed a notable improvement, with a reduction in losses from $(17,387) million to $(3,057) million[31]. - The company incurred a non-cash interest expense of $543 million, slightly down from $580 million in the previous year[31]. - The income tax benefit for the current quarter was $(1,790) million, compared to an expense of $5,248 million in the same quarter last year[31].
Artivion Reports First Quarter 2025 Financial Results
Prnewswire· 2025-05-05 20:05
Core Insights - Artivion, Inc. reported a total revenue of $99.0 million for Q1 2025, reflecting a 2% increase on a GAAP basis and a 4% increase on a non-GAAP constant currency basis compared to Q1 2024 [4][14] - The company experienced a net loss of $(0.5) million, or $(0.01) per diluted share, compared to a net income of $7.5 million, or $0.18 per diluted share in the same quarter of the previous year [5][25] - Artivion raised its full-year revenue guidance for 2025, now expecting revenue between $423 million and $435 million, which represents an 11% to 14% growth on a constant currency basis compared to 2024 [6][15] Financial Performance - Product revenue growth was driven by stent grafts (14% growth), On-X (10% growth), and BioGlue (7% growth) year-over-year, with constant currency growth rates of 19%, 11%, and 9% respectively [2][14] - Preservation services revenue decreased by 23% due to a backlog in tissue processing operations caused by a cybersecurity incident [2][14] - Adjusted EBITDA for Q1 2025 was $17.5 million, a 1% increase from $17.3 million in Q1 2024 [14][24] Market Developments - Endospan presented positive clinical data for its NEXUS aortic stent graft system, showing a 63% reduction in major adverse event rates compared to reference performance goals, with expectations for FDA approval in the second half of 2026 [3][14] - The company continues to focus on strategic growth initiatives while recovering from the impacts of the cybersecurity incident [2][3] Revenue Breakdown - Total revenues for Q1 2025 included $78.8 million from products and $20.2 million from preservation services [21] - Geographically, revenue distribution was $47.8 million from North America, $37.0 million from Europe, the Middle East, and Africa, $8.2 million from Asia Pacific, and $5.9 million from Latin America [21][23] Financial Outlook - Artivion expects adjusted EBITDA growth of 18% to 28% for the full year 2025, resulting in an expected range of $84 million to $91 million [7][15] - The company is not revising its foreign exchange assumptions despite potential upside from current exchange rates due to ongoing volatility [6][15]
Artivion Announces Presentation of New Clinical Data from NEXUS TRIOMPHE IDE Trial at the 105th American Association for Thoracic Surgery (AATS) Annual Meeting
Prnewswire· 2025-05-05 11:00
Core Insights - The NEXUS TRIOMPHE trial data shows a 63% reduction in Major Adverse Event (MAE) rates compared to the reference performance goal, indicating significant clinical improvement for patients with chronic aortic dissection [1][3]. Clinical Outcomes - The trial involved a cohort of 54 patients at high risk for open surgical repair, demonstrating a MAE rate of 13% against a performance goal of 35% (p < 0.001) [4]. - Technical failure rates were reported at 1.9%, significantly lower than the 30% performance goal (p < 0.001) [4]. Device Performance - The NEXUS device is presented as a minimally invasive alternative to open aortic arch replacement, particularly beneficial for high-risk patients [5]. - The trial results are expected to support the clinical module of the PMA filing after one year of follow-up with the primary cohort [6]. Company Overview - Artivion, Inc. specializes in medical devices for cardiac and vascular surgery, focusing on aortic diseases, and markets products in over 100 countries [7].
Artivion Announces Release Date and Teleconference Call Details for First Quarter 2025 Financial Results
Prnewswire· 2025-04-21 20:10
ATLANTA, April 21, 2025 /PRNewswire/ -- Artivion, Inc. (NYSE: AORT), a leading cardiac and vascular surgery company focused on aortic disease, announced today that first quarter 2025 financial results will be released on Monday, May 5, 2025, after the market closes. On that day, the Company will hold a teleconference call and live webcast at 4:30 p.m. ET to discuss the results, followed by a question-and-answer session hosted by Pat Mackin, Chairman, President and Chief Executive Officer of Artivion.To list ...
Strength Seen in Artivion (AORT): Can Its 7.9% Jump Turn into More Strength?
ZACKS· 2025-04-10 14:11
Artivion (AORT) shares ended the last trading session 7.9% higher at $23.95. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5.5% loss over the past four weeks.Artivion stock surged amid a broader market rebound following the Trump administration’s announcement of a temporary halt on reciprocal tariffs for most countries. The move came in response to steep market declines and growing fears that tariff increases cou ...
Artivion to Participate in the Oppenheimer 35th Annual Healthcare MedTech & Services Conference
Prnewswire· 2025-03-04 21:05
Company Overview - Artivion, Inc. is a medical device company headquartered in suburban Atlanta, Georgia, focusing on solutions for cardiac and vascular surgeons dealing with aortic diseases [3] - The company offers four major product groups: aortic stent grafts, surgical sealants, On-X mechanical heart valves, and implantable cardiac and vascular human tissues [3] - Artivion markets and sells its products in over 100 countries worldwide [3] Upcoming Event - Artivion will participate virtually in the Oppenheimer 35th Annual Healthcare MedTech & Services Conference [1] - The virtual fireside chat is scheduled to begin at 10:40 a.m. ET on March 18, 2025 [1] - A live webcast of the event will be available on Artivion's website, with an archived version accessible for 90 days [2]
Artivion(AORT) - 2024 Q4 - Annual Report
2025-02-28 19:28
Financial Performance - Total revenues for 2024 reached $388.5 million, an increase of 9.8% from $354.0 million in 2023[371]. - Product revenues increased to $290.2 million, up 11.1% from $261.2 million in 2023[371]. - Operating income for 2024 was $38.9 million, significantly higher than $5.7 million in 2023[371]. - Net loss decreased to $13.4 million in 2024 from $30.7 million in 2023, reflecting a reduction of 56.3%[371]. - Basic loss per share improved to $(0.32) from $(0.75) in 2023[371]. - Net loss for the year ended December 31, 2024, was $13,359 million, a decrease from a net loss of $30,690 million in 2023[373]. - Net cash flows provided by operating activities increased to $22,236 million in 2024 from $18,825 million in 2023[373]. - Total current assets increased to $290.1 million in 2024, up from $280.7 million in 2023[367]. - Total liabilities rose slightly to $512.9 million in 2024 from $510.6 million in 2023[369]. - Cash and cash equivalents decreased to $53.5 million in 2024 from $58.9 million in 2023[367]. Employee Relations and Workforce - The company had approximately 1,600 employees as of December 31, 2024, with a focus on attracting and retaining qualified personnel in a competitive market[146]. - The company has never experienced a work stoppage or interruption due to labor disputes, indicating good relations with employees worldwide[146]. - The company has programs in place to enhance compensation and benefits to attract and retain talent in the medical device and tissue processing industries[148]. - The company emphasizes a strong and collaborative culture, with core values focused on collaboration, results-driven performance, and customer focus[149]. Internal Controls and Compliance - The company maintains effective internal control over financial reporting as of December 31, 2024, based on the COSO criteria[359]. - The company’s independent auditor, Ernst & Young, LLP, issued an unqualified opinion on the effectiveness of internal controls over financial reporting as of December 31, 2024[347]. Risks and Sensitivities - The company’s operations are subject to risks from interest rate fluctuations and foreign currency exchange rate changes, which could significantly impact financial results[332][334]. - A hypothetical increase of one percentage point in interest rates on the company's variable rate debt portfolio would decrease pre-tax operating results by an estimated $2.0 million over a twelve-month period[333]. - A hypothetical 10% change in foreign currency exchange rates would decrease pre-tax operating results by an estimated $8.0 million over a twelve-month period[335]. Capital Expenditures and Investments - Capital expenditures for 2024 were $11,188 million, up from $9,752 million in 2023[373]. - The company completed the acquisition of Ascyrus Medical LLC to enhance the company's product offerings in the treatment of acute Type A aortic dissections[440]. - The total potential purchase consideration for the Ascyrus acquisition is up to $200.0 million, including cash payments and stock issuance upon achieving specific milestones[441]. Revenue and Market Performance - North America generated $197.9 million in revenue for 2024, up from $187.6 million in 2023, representing a growth of 7.2%[506]. - EMEA revenue increased to $131.5 million in 2024 from $114.8 million in 2023, reflecting a growth of 14.6%[506]. Stock and Equity - The company authorized a total of 10,045,000 shares under its stock plans as of December 31, 2024, with 2,742,000 shares available for grant[507]. - In 2024, the company authorized stock awards totaling 781,000 shares with an aggregate grant date market value of $16.2 million[508]. - The company did not authorize any grants of stock options during 2024, while 110,000 shares were granted in 2023[515]. Tax and Deferred Assets - Total deferred tax assets were $41.87 million as of December 31, 2024, down from $43.14 million in 2023, with a net deferred tax liability of $19.12 million[470]. - The company maintained a valuation allowance against deferred tax assets of $32.61 million as of December 31, 2024, compared to $32.86 million in 2023[470]. - As of December 31, 2024, the uncertain tax liability was $5.1 million, with $4.0 million expected to affect the tax rate if recognized[475]. Debt and Financing - The total principal debt as of December 31, 2024, was $320.2 million, with total debt amounting to $314.3 million after accounting for unamortized debt issuance costs[480]. - The company entered into a credit agreement for $350.0 million, including a $190.0 million secured term loan facility and a $60.0 million revolving credit facility[483]. - The stated interest rate for the Term Loan Facility was 11.09% as of December 31, 2024, with an effective interest rate of 11.86%[489]. - The company is in compliance with its debt covenants, which require a total net leverage ratio not greater than 6.25x for certain periods[487].
Down -18.58% in 4 Weeks, Here's Why Artivion (AORT) Looks Ripe for a Turnaround
ZACKS· 2025-02-27 15:35
Core Viewpoint - Artivion (AORT) has experienced a significant downtrend, with an 18.6% decline over the past four weeks, but it is now in oversold territory, suggesting a potential turnaround due to improved earnings expectations from analysts [1]. Group 1: Stock Performance and Technical Indicators - AORT's stock has been under heavy selling pressure, indicated by an RSI reading of 17.29, which suggests that the selling may be exhausting itself and a trend reversal could be imminent [5]. - The Relative Strength Index (RSI) is a momentum oscillator that helps identify whether a stock is oversold, typically when the RSI falls below 30 [2][3]. Group 2: Earnings Estimates and Analyst Consensus - There is a strong consensus among sell-side analysts regarding AORT's ability to exceed previous earnings estimates, with a 36% increase in the consensus EPS estimate over the last 30 days [6]. - AORT holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, indicating a strong potential for a near-term turnaround [7].
Artivion(AORT) - 2024 Q4 - Earnings Call Presentation
2025-02-25 04:03
4Q and Full Year 2024 Earnings Presentation February 24, 2025 1 © 2025 Artivion, Inc. FORWARD-LOOKING STATEMENTS 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 ou ...