Artivion reports Q1 adjusted EPS 6c, consensus 5c

Reports Q1 revenue $99M, consensus $94.81M. “I am pleased with our first quarter results as we returned to normal operations following our previously disclosed cybersecurity incident while making substantial progress on our strategic growth initiatives. As anticipated, our performance was driven by year-over-year growth in stent grafts of 14%, On-X of 10%, and BioGlue of 7%, all compared to the first quarter of 2024. On a constant currency basis, year-over-year stent grafts, On-X, and BioGlue grew 19%, 11% and 9%, respectively. Our strong product revenue growth of 14% on a constant currency basis was tempered by a 23% decrease in preservation services revenue due to the short-term backlog in tissue processing operations caused by the cybersecurity incident. We are pleased with our team’s progress to date in returning to standard tissue processing times, as we outpaced our initial expectations enabling stronger than anticipated first quarter performance,” said Pat Mackin, Chairman, President, and Chief Executive Officer. Mackin added, “Given our strong first quarter performance, we are raising the midpoint of our full year revenue expectations for 2025 and remain confident in our ability to grow adjusted EBITDA at twice the rate of constant currency revenue growth.” Mackin concluded, “We were also pleased to see Endospan present positive new clinical data for its NEXUS aortic stent graft system at the AATS Annual Meeting in May. Trial data out to 30 days met its primary endpoints and demonstrated statistically significant improvement in clinical outcomes compared with the goals set in the investigational protocol. With these outcomes, we believe NEXUS remains on track for FDA approval in the second half of 2026 and we look forward to Endospan sharing 1-year follow up data next year.”