Q2 2025 Xvivo Perfusion AB Earnings Call Transcript
Key Points
- Xvivo Perfusion AB (XVIPF) reported strong growth in specific segments, with US lung sales to clinics and OPOs growing by 26%, liver sales in Europe increasing by 32%, and kidney sales in the US rising by 47% during the second quarter.
- The company achieved significant milestones for future growth, including a 76% risk reduction in severe PGD from the European Heart Study, which led to improved patient survival.
- There is a high interest in starting EVLP programs, with four new XPS customers in the US in the first six months of 2025, indicating potential for future growth.
- Xvivo Perfusion AB (XVIPF) maintained a stable gross margin of 74% despite currency headwinds, demonstrating resilience in its business model.
- The company is preparing for the launch of heart products in Europe and has seen high interest from clinics, indicating potential for future revenue growth in this segment.
- Xvivo Perfusion AB (XVIPF) reported negative top-line growth in Q2 2025 compared to the same quarter last year, primarily due to a slower-than-expected lung market, lack of heart sales, and a weaker US dollar.
- The company's EBITDA as a percentage of sales decreased this quarter, reflecting challenges in maintaining profitability amidst sales declines.
- There was a significant destocking issue with the largest US lung customer, impacting sales negatively by approximately USD 1.5 million.
- Heart sales were significantly lower in Q2 2025 compared to last year, with only SEK3 million in sales versus SEK19 million last year, due to the absence of trial revenue.
- The US service business progress was unsatisfactory, with a strategic review indicating a need for improvement in this area.
Thank you so much, and good morning and good afternoon, and welcome to XVIVO's earnings call for the second quarter of 2025.
I go to the first page after the front page. So today's presenters are me, Christoffer Rosenblad, CEO of XVIVO; and Kristoffer Nordstrom, CFO. And with that, we go to Slide 2, the Q2 finance at the glance. I am disappointed to report that Q2 shows negative top line growth compared to the same quarter last year. The three main reasons are a slower-than-expected lung market that led to some destocking, lack of heart sales compared to both expectations and last year and thirdly, a weaker US dollar.
The positive news, however, in the quarter, two are that where we invest in field force. We see strong growth and a positive momentum. For example, the US lung sales to clinic and OPOs grew by 26%. Liver in Europe grew by 32% and kidney sales in the US grew by 47% during the second quarter of this year.
The quarter also showed great progress in terms of milestones for future growth. The key event
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