Xvivo Perfusion AB (SE:XVIVO)
:XVIVO
Want to see SE:XVIVO full AI Analyst Report?
Top Page
Xvivo Perfusion AB
(XVIVO)
Select Model
Select Model
Rating:73Outperform
Price Target:
kr315.00
▲(63.47% Upside)
Action:ReiteratedDate:04/27/26
The score is driven primarily by solid underlying financial strength (low leverage, strong gross margins, multi-year growth) and favorable technical momentum. This is tempered by a premium valuation (high P/E) and the need to prove more consistent cash conversion and margin durability, with execution and regulatory timing risks highlighted on the latest earnings call.
Positive Factors
Conservative balance sheet (zero debt)
Zero debt and a conservatively financed balance sheet provide durable financial flexibility to fund regulatory timelines, R&D and geographic expansion without immediate refinancing needs. This buffers cashflow variability and supports multi‑year commercialization pushes for heart, liver and EVLP.
Negative Factors
Volatile free cash flow and cash conversion
Historic FCF volatility and slower cash conversion signal that working capital and investment cycles materially affect liquidity. For a growth‑phase medtech, inconsistent cash conversion raises funding risk for commercialization spend and may force higher capex or drawdowns on cash during expansion phases.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet (zero debt)
Zero debt and a conservatively financed balance sheet provide durable financial flexibility to fund regulatory timelines, R&D and geographic expansion without immediate refinancing needs. This buffers cashflow variability and supports multi‑year commercialization pushes for heart, liver and EVLP.
Read all positive factors
Xvivo Perfusion AB (XVIVO) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr8.64B
Dividend YieldN/A
Average Volume (3M)168.41K
Price to Earnings (P/E)49.7
Beta (1Y)1.24
Revenue Growth-2.39%
EPS Growth-46.09%
CountrySE
Employees193
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)1.18
Shares Outstanding31,499,470
10 Day Avg. Volume158,765
30 Day Avg. Volume168,408
Financial Highlights & Ratios
PEG Ratio-2.74
Price to Book (P/B)2.78
Price to Sales (P/S)7.24
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)3.66
Revenue Forecast (FY)kr993.08M
Xvivo Perfusion AB Business Overview & Revenue Model
Company Description
Xvivo Perfusion AB (publ), a medical technology company, develops solutions for organ, tissue, and cell preservation and perfusion in connection with transplantation in Sweden, the United States, North America and South America, Europe, the Middle...
How the Company Makes Money
XVIVO primarily makes money by selling products used in organ transplantation workflows, with revenues typically generated from (1) consumables and solutions (single-use or recurring-use products such as organ preservation/perfusion solutions and ...
Xvivo Perfusion AB Earnings Call Summary
Earnings Call Date:Apr 24, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 10, 2026
Earnings Call Sentiment Positive
The call presented strong operational momentum: record sales, double-digit organic growth across thoracic and abdominal, robust EVLP consumable growth (+56%), a compelling clinical evidence package for the Heart Assist (reduced severe PGD and improved 1-year survival), rapid Flowhawk adoption (+62%), and positive cash flow for the second consecutive quarter. Headwinds were primarily margin pressure in abdominal and services (organ recovery), dependency on regulatory approvals for broader heart and liver commercialization, one-time go-to-market costs (SEK 7m), and some revenue concentration risk in EVLP. Overall the positive commercial and clinical developments and improving cash generation outweigh the manageable operational and regulatory risks.Positive Updates
Record Sales and Strong Top-Line Growth
Net sales of SEK 241 million in Q1 2026 with organic top-line growth of 23% (18% excluding U.S. CAP trial revenue). Management described this as a record quarter with broad-based momentum across core businesses.
Negative Updates
Services Segment Weakness — Organ Recovery
Services net sales SEK 60 million, representing -10% organic growth. Organ recovery revenue declined 10% and gross margin dropped to 18% due to lower case volumes while incurring fixed 24/7 surgical-team costs; pipeline and capacity exist but sales execution must improve to restore margins.
Read all updates
Q1-2026 Updates
Positive
Negative
Record Sales and Strong Top-Line Growth
Net sales of SEK 241 million in Q1 2026 with organic top-line growth of 23% (18% excluding U.S. CAP trial revenue). Management described this as a record quarter with broad-based momentum across core businesses.
Read all positive updates
Company Guidance
Management guided that strong Q1 momentum will continue into 2026, highlighting Q1 net sales of SEK 241m with organic growth +23% (+18% excl. U.S. CAP), EBIT 13% and EBITDA 21% (24% excl. SEK 7m non‑recurring heart go‑to‑market costs), overall gross margin 71% (thoracic 83%, abdominal 54%, services 18%), thoracic sales SEK 160m (+27% organic; +19% excl. trial) with EVLP disposables +56%, abdominal sales SEK 66m (+24% organic; liver SEK 45m +12% LFL; kidney +63% LFL), services SEK 60m (Flowhawk +62%; organ recovery -10%), operating cash flow SEK 65m, investment cash flow -SEK 55m and SEK 308m cash on hand (R&D SEK 37m); near‑term actions include submitting the U.S. heart regulatory file to the FDA in summer, continuing the CE‑mark effort, rolling out 4–5 additional OPO EVLP hubs (10 EVLPs so far; 2nd OPO onboarded in Q2), expanding U.S. sales and surgical capacity, aiming to improve abdominal margins as U.S. volumes ramp, target full‑year EBITDA near consensus (rolling 12 EBITDA 20%) and positive total cash flow, and to provide a liver regulatory update at the Q2 report.Xvivo Perfusion AB Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
86
Very Positive
Cash Flow
54
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 834.53M | 812.16M | 822.41M | 597.54M | 415.29M | 258.39M |
| Gross Profit | 544.16M | 533.50M | 616.41M | 445.11M | 296.96M | 188.28M |
| EBITDA | 135.40M | 153.14M | 272.97M | 35.05M | 39.21M | 39.20M |
| Net Income | 73.86M | 25.16M | 172.18M | 91.82M | 18.43M | 8.15M |
Balance Sheet | ||||||
| Total Assets | 2.47B | 2.37B | 2.40B | 2.20B | 1.73B | 1.54B |
| Cash, Cash Equivalents and Short-Term Investments | 308.14M | 292.09M | 415.52M | 546.09M | 246.54M | 398.70M |
| Total Debt | 122.68M | 237.89M | 34.04M | 31.44M | 10.01M | 5.72M |
| Total Liabilities | 299.60M | 260.65M | 245.97M | 250.57M | 302.95M | 257.15M |
| Stockholders Equity | 2.17B | 2.11B | 2.16B | 1.95B | 1.43B | 1.29B |
Cash Flow | ||||||
| Free Cash Flow | 74.14M | 0.00 | -81.86M | -97.65M | -103.09M | -106.13M |
| Operating Cash Flow | 181.66M | 101.07M | 111.29M | 46.29M | 27.86M | -12.06M |
| Investing Cash Flow | -254.14M | -258.41M | -243.81M | -161.62M | -197.62M | -187.70M |
| Financing Cash Flow | 72.13M | 72.25M | -10.90M | 418.55M | -6.84M | 234.61M |
Xvivo Perfusion AB Technical Analysis
Positive
192.70
Price Trends
207.16
Positive
200.02
Positive
195.00
Positive
Market Momentum
26.06
Negative
85.99
Negative
94.36
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:XVIVO, the sentiment is Positive. The current price of 192.7 is below the 20-day moving average (MA) of 240.53, below the 50-day MA of 207.16, and below the 200-day MA of 195.00, indicating a bullish trend. The MACD of 26.06 indicates Negative momentum. The RSI at 85.99 is Negative, neither overbought nor oversold. The STOCH value of 94.36 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:XVIVO.
Xvivo Perfusion AB Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | kr8.64B | 49.68 | 1.20% | ― | -2.39% | -46.09% | |
72 Outperform | kr2.89B | 40.70 | 17.89% | 1.61% | -2.32% | -11.87% | |
69 Neutral | kr49.99B | 32.02 | 6.91% | 2.16% | -4.14% | 59.50% | |
58 Neutral | kr14.18B | 31.59 | 3.34% | 0.80% | -5.68% | -1106.19% | |
56 Neutral | kr1.18B | -74.03 | -4.20% | ― | 23.85% | -135.36% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | kr1.03B | -61.68 | -4.42% | ― | 4.66% | 27.83% |
* Healthcare Sector Average
SE:XVIVO
Xvivo Perfusion AB
274.40
-46.80
-14.57%
SE:GETI.B
Getinge
183.55
0.45
0.24%
SE:VITR
Vitrolife AB
104.70
-50.00
-32.32%
SE:CEVI
CellaVision AB
121.20
-79.24
-39.53%
SE:PAX
Paxman AB
50.60
-25.00
-33.07%
SE:SEDANA
Sedana Medical AB
10.32
0.08
0.78%
Xvivo Perfusion AB Corporate Events
XVIVO Perfusion AGM Backs Incentive Plan, Withholds Dividend and Expands Financing Flexibility
Apr 27, 2026
Shareholders in XVIVO Perfusion approved the 2025 accounts and discharged the board and CEO from liability at the annual meeting in Gothenburg, while deciding to retain profits and not distribute a dividend for the year. The decision signals a foc...
Xvivo Perfusion Delivers Strong Q1 Growth and Advances Heart Preservation Trials
Apr 24, 2026
Xvivo Perfusion reported first-quarter 2026 net sales of SEK 241 million, a 10 percent increase in SEK, with 23 percent organic growth in local currencies and strong momentum in thoracic and abdominal product segments. Profitability improved with ...
XVIVO Reports Strong Early Trial Results for HOPE Technology in DCD Heart Transplants
Apr 22, 2026
XVIVO Perfusion AB reported encouraging interim results from the HOPE-at-Heart clinical trial, the first prospective multicenter study to test direct procurement of donor hearts after circulatory death followed by hypothermic oxygenated perfusion ...
XVIVO’s U.S. PRESERVE Trial Shows Strong One-Year Outcomes for Heart Preservation Technology
Apr 22, 2026
XVIVO Perfusion AB reported preliminary one-year follow-up data from the U.S. PRESERVE trial evaluating its hypothermic oxygenated perfusion heart technology, Heart Assist Transport, in extended criteria donor and donation after circulatory death ...
XVIVO Sets April 24 Call to Present Q1 2026 Interim Report
Apr 17, 2026
XVIVO Perfusion AB has scheduled a conference call and webcast for April 24, 2026, to discuss its interim report for the first quarter of 2026, with CEO Christoffer Rosenblad and CFO Kristoffer Nordström leading the presentation in English. T...
XVIVO’s Heart Preservation Trial Shows Improved One‑Year Outcomes in European Study
Apr 16, 2026
XVIVO Perfusion reported that 12‑month follow‑up data from its European multicenter heart trial, NIHP2019, evaluating the XVIVO Heart Assist Transport system, has been published in the European Heart Journal. The randomized trial enrol...
XVIVO Perfusion Calls 2026 AGM, Proposes New Board Members and Incentive Plan
Mar 19, 2026
XVIVO Perfusion AB has called its Annual General Meeting for 27 April 2026 in Gothenburg, Sweden, inviting shareholders who are registered with Euroclear Sweden or have arranged voting rights registration to participate. Shareholders may attend in...
XVIVO Perfusion Updates Board Proposals Ahead of 2026 AGM
Feb 20, 2026
XVIVO Perfusion’s nomination committee has corrected its earlier communication ahead of the 27 April 2026 annual general meeting to clarify that board member Göran Dellgren is proposed for re-election. The updated slate now includes the...
XVIVO Perfusion nominates experienced healthcare leaders to strengthen board
Feb 20, 2026
XVIVO Perfusion’s nomination committee has proposed the re-election of four current board members and the addition of two new directors, healthcare veteran Emil Billbäck and medtech executive Anne-Karen Hunt, ahead of the company’...
XVIVO Elevates CFO to Lead Global Strategy as It Targets U.S. Growth
Feb 19, 2026
XVIVO Perfusion AB has reassigned its Chief Financial Officer, Kristoffer Nordström, to the newly created position of Senior Vice President Corporate Strategy Business Development, effective April 1, 2026, while he remains on the executive m...
XVIVO Delays Q1 2026 Report to Spotlight Key U.S. Heart Study
Feb 10, 2026
XVIVO Perfusion AB has rescheduled the publication of its interim report for the January–March 2026 period, moving the release to Friday, April 24, 2026, from the previously planned date of Wednesday, April 22. The company said the adjustmen...
XVIVO Perfusion Balances Organ Business Growth With Heavy R&D Spend in 2025
Jan 27, 2026
XVIVO Perfusion reported largely flat full-year 2025 net sales of SEK 812.2 million, with modest 4 percent growth in local currencies and 3 percent organic growth, as strong 30 percent growth in the Abdominal business offset weaker Thoracic and Se...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.