Company Overview - Artivion, Inc. is a leading cardiac and vascular surgery company focused on aortic disease [2] - The company is headquartered in suburban Atlanta, Georgia and markets products in over 100 countries worldwide [2] Product Offerings - Artivion's major product groups include aortic stent grafts, surgical sealants, On-X mechanical heart valves, and implantable cardiac and vascular human tissues [2] Upcoming Events - Artivion will participate in the Morgan Stanley 23 Annual Global Healthcare Conference on September 10, 2025, with a fireside chat scheduled at 2:35 pm ET [1] - A live webcast of the event will be available on Artivion's website, with an archived copy accessible for 90 days [2]

Core Viewpoint - Artivion, Inc. has successfully closed transactions related to privately negotiated exchange agreements with holders of its 4.250% Convertible Senior Notes due 2025, significantly reducing its outstanding debt and enhancing its financial position [1][3]. Financial Transactions - The exchange agreements involved the conversion of approximately $99.54 million of Notes into 4,334,347 shares of common stock, along with a cash payment of approximately $1.7 million for accrued and unpaid interest [2]. - Following the transactions, only about $0.46 million in principal amount of the Notes remains outstanding [2]. Management Commentary - The CEO of Artivion highlighted that the retirement of the convertible notes is a significant milestone that reduces leverage ratios and enhances balance sheet flexibility [3]. Advisory Role - J. Wood Capital Advisors LLC served as the financial advisor to Artivion during these exchange transactions [4]. Company Overview - Artivion, Inc. is a medical device company focused on solutions for cardiac and vascular surgery, particularly in treating aortic diseases, with a product range that includes aortic stent grafts, surgical sealants, mechanical heart valves, and implantable tissues [7].

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]

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].