Core Insights - Artivion reported strong financial performance for the full year 2025, with adjusted revenue growth of 13% and adjusted EBITDA growth of 26% compared to 2024 [1][2] - The company expects continued growth in 2026, projecting revenues between $486 million and $504 million, representing a growth of 10% to 14% on an adjusted constant currency basis [1][3] Financial Performance - Fourth quarter 2025 total revenues were $116.0 million, up from $97.3 million in Q4 2024, with adjusted revenues of $118.3 million, an 18% increase on an adjusted constant currency basis [1][2] - For the full year 2025, total revenues reached $441.3 million, compared to $388.5 million in 2024, with adjusted revenues of $443.6 million, reflecting a 13% increase on an adjusted constant currency basis [1][3] - Non-GAAP net income for Q4 2025 was $8.6 million, or $0.17 per fully diluted share, compared to $0.2 million in Q4 2024 [1][2] - Full year 2025 non-GAAP net income was $29.7 million, or $0.63 per fully diluted share, compared to $10.8 million in 2024 [1][3] Product Performance - Revenue growth in Q4 2025 was driven by a 44% increase in stent grafts, a 25% increase in On-X mechanical heart valves, and a 6% increase in preservation services compared to Q4 2024 [1][2] - The company highlighted positive clinical data from Endospan's NEXUS TRIOMPHE IDE trial, showing 94% patient survival and 91% of patients free from disabling stroke at one year post-treatment [1][3] Future Outlook - Artivion anticipates adjusted EBITDA growth of 18% to 22% for the full year 2026, resulting in an expected range of $105 million to $110 million [2][3] - The company aims to maintain double-digit constant currency revenue growth and adjusted EBITDA growth at twice the pace of revenue growth over the long term [1][3]