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]