Q3 2025 Xvivo Perfusion AB Earnings Call Transcript
Key Points
- Xvivo Perfusion AB (XVIPF) reported a 6% organic growth in Q3 2025, excluding US heart trial revenue.
- The abdominal segment showed strong performance, with liver sales growing by 34% and kidney sales increasing by 79% compared to last year.
- The company has successfully expanded its business in key markets such as Italy, Dach, and the UK.
- Xvivo Perfusion AB (XVIPF) has entered into a partnership with a perfusionist company, gaining access to 175 perfusionists to improve service offerings.
- The company maintains a strong gross margin of 75% in Q3, despite unfavorable currency effects.
- The thoracic segment experienced a 12% decline in organic growth due to lower machine sales and reduced EVLP activity among key customers.
- The US service business has not progressed as expected, prompting the company to develop an action plan for improvement.
- Regulatory approval for the heart product in Europe and the US is still pending, with timelines being uncertain.
- The liver trial in the US has been temporarily paused to explore alternative regulatory routes, potentially delaying market entry.
- The company faces challenges with resource constraints and reimbursement issues in various markets, impacting growth potential.
Thank you, so much and good morning, and good afternoon, everyone, and especially welcome XVIVO's earning call for the third quarter of 2025. First, a quick introduction of today's presenters. That's me, Christoffer Rosenblad, CEO calling in from Gothenburg, Sweden, and we also have Kristoffer Nordstrom, CFO, calling in from Philadelphia in the United States.
And with that we go to the third slide which shows Q3 finances at a glance. The Q3 shows, plus six top-line organic growth if adjusted for the US hot trial revenue compared to the same quarter last year. We can note that there was no destocking during Q3, and hence the beta recovered to expected levels during the quarter. In terms of segment growth,
the terrific sales were affected by lower heart study revenue in the US and the softer Q3 lung market. The abdominal segment shows great progress for both liver and kidney. Looking a little bit into the future, in the beginning of October, the three out of the four clinics that acquired an XPS in the United States
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