Strong Financial Performance
Sales increased by 15%, gross margin reached 70%, and EPS rose by 16%. Full-year guidance for sales, gross margin, operating income, and EPS has been increased.
Product Segment Growth
Catheters sales increased by 27%, grafts by 19%, while Valvulotomes and Chunnt both grew by 13%.
Geographical Sales Growth
EMEA sales grew by 23%, Americas by 12%, and APAC by 12%.
Successful International Artegraft Launch
International Artegraft sales exceeded expectations, reaching $420,000 in Q2, up from $185,000 in Q1. Full-year sales are expected to surpass $2 million.
Strong Cash Flow and Financial Position
Cash from operations generated a record $20.3 million in Q2. The company ended Q2 with $319.5 million in cash and securities, an increase of $17 million.
Positive Regulatory Developments
Progress made in international regulatory approvals for Artegraft, with expected approvals in Canada, Korea, and Singapore in 2026.
Increased Full Year Guidance
Guidance raised to $251 million in revenue and 15% organic growth, with gross margin anticipated at 69.7% and operating income at $60.9 million.