Q1 2025 Artivion Inc Earnings Call Transcript
Key Points
- Artivion Inc (AORT) reported a 4% constant currency revenue growth and a 1% adjusted EBITDA growth year-over-year, despite challenges from a cybersecurity incident.
- The company achieved double-digit growth in its On-X heart valve segment, driven by positive clinical data and improved supply chain operations.
- Stent graft revenues grew 19% on a constant currency basis, highlighting the strength of Artivion Inc (AORT)'s product portfolio in complex segments of the market.
- The AMDS launch in the US is progressing well, with approximately 150 facilities actively seeking necessary approvals, indicating strong market interest.
- Artivion Inc (AORT) raised its full-year 2025 revenue guidance, now expecting constant currency growth of 11% to 14%, reflecting confidence in its growth trajectory.
- The cybersecurity incident significantly impacted the tissue processing segment, resulting in a 23% year-over-year decline in revenue for Q1.
- Gross margins decreased slightly to 64.2% from 64.6% in the previous year, due to lower revenue from higher-margin preservation services products.
- North American revenues declined by 6% compared to the first quarter of 2024, indicating challenges in this key market.
- The company incurred approximately $4.7 million in costs related to the cybersecurity incident, impacting overall financial performance.
- Artivion Inc (AORT) faces ongoing challenges in clearing the tissue processing backlog, although progress is being made with expectations to resolve it by the end of Q3.
Greetings. Welcome to Artivion's first-quarter 2025 financial conference call. (Operator Instructions) Please note that today's conference is being recorded.
At this time, I'll now turn the conference over to Laine Morgan with Investor Relations. Laine, you may begin.
Thanks, operator. Good afternoon, and thank you for joining the call today. Joining me today from Artivion's management team are Pat Mackin, CEO; and Lance Berry, CFO. Before we begin, I'd like to make the following statements to comply with the safe harbor requirements of the Private Securities Litigation Reform Act of 1995. Comments made on this call that look forward in time involve risks and uncertainties and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
The forward-looking statements include statements made as to the company's or management's intentions, hopes, beliefs, expectations or predictions of the future. These forward-looking statements are subject to
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