Strong Sales Growth
Q2 sales increased by 15%, with a gross margin of 70% and EPS up 16%. Catheters grew by 27%, and grafts by 19%. EMEA sales grew 23%, Americas by 12%, and APAC by 12%.
Successful Artegraft Launch
International Artegraft sales reached $420,000 in Q2, up from $185,000 in Q1. Full-year sales are expected to surpass $2 million.
Increased Revenue Guidance
The full-year revenue guidance was raised to $251 million with 15% organic growth. Gross margin expectations are set at 69.7%.
Strong Cash Flow
Cash from operations was a record $20.3 million in Q2, with $319.5 million in cash and securities, an increase of $17 million.
Positive Unit Volume Growth
Unit volume growth was 7% in Q2, driven by Artegraft, XenoSure, RestoreFlow, and catheters.
Increased Sales Representative Workforce
The company ended Q2 with 164 sales reps, supporting direct-to-hospital sales in new markets like Portugal and Czech Republic.