Strong Revenue Growth (Q1 2026)
Worldwide revenue of $141.2 million in Q1 2026, up 14.3% year-over-year (12.8% on a constant currency basis). U.S. revenue of $116.2 million, up 14.9% versus prior year; sequential revenue was roughly +1% versus Q4 2025.
Improved Profitability / Adjusted EBITDA
Reported adjusted EBITDA for the quarter of $17 million (nearly double Q1 of last year). Company also provided full-year adjusted EBITDA guidance of $96 million to $101 million.
Gross Margin Expansion
Gross margin improved materially: CFO reported 77.4% for 2026, up ~246 basis points versus 2025. Separately, management highlighted a quarter with an 81% gross margin driven by favorable revenue mix and cost actions (creative and hosting COGS benefits).
Rapid Clinical Trial Enrollment (BOX NOAF)
BOX NOAF randomized clinical trial has enrolled ~300 of 960 patients since enrollment began in Q4 last year and is tracking well ahead of plan; company now expects complete enrollment around the end of this year — nearly one year ahead of the original timeline.
Franchise-Level Growth — Pain Management
Pain management led portfolio growth with a 28% year-over-year increase; U.S. pain management sales were $22.4 million, up ~29.5% year-over-year. The Cryosphere/Cryo Max Pro device contributed roughly 70% of pain management sales in the quarter.
Franchise-Level Growth — Open Ablation & Appendage Management
Worldwide open ablation revenue grew ~15% in Q1 (U.S. open ablation sales +17.3% to $39.1 million). Worldwide appendage management grew ~16%, with U.S. appendage management sales of $48.4 million (+14.9%); AtriClip Flex Mini accounted for ~40% of open appendage management revenue in the U.S.
Regulatory and Product Launch Momentum
Received CE Mark under EU MDR for AtriClip Flex Mini and Pro Mini in Europe with launches expected later in the year. Multiple new product launches across the U.S., China, Japan and Europe were called out as growth drivers.
International Growth (Despite Headwinds)
International revenue totaled $25.0 million, up 11.5% on a reported basis and up 3.3% on a constant currency basis. European sales increased 13.2% ($16.1M) and Asia Pacific/other international sales rose 8.4% ($8.9M).
Forward Guidance Showing Back-Half Acceleration
Company provided Q2 revenue guidance of $81M–$83M (midpoint $82M, ~20% YoY growth) and full-year revenue guidance of $347M–$357M (midpoint ~24% YoY growth), indicating expected revenue acceleration in the back half.
Product Adoption and Competitive Differentiation
Management highlighted sustained adoption of Encompass clamp, strong take-up and share gains from AtriClip Flex Mini/Pro Mini, growing traction for Cryo XD therapy, and belief that differentiated innovation is driving market share gains.