David Turkaly • Citizens JMP

Answer

CEO Christopher Simon clarified that the $150 million buyback occurred last quarter, not in the current one. He broke down the $52 million headwind as approximately $35 million from the CSL U.S. disposables transition and $17 million from the whole blood business divestiture. Regarding the next LRP, Simon stated it would come 'when ready,' likely in the 'spring or summer,' after the company has fully delivered on its current plan and demonstrated a strong 'say-do ratio.'

Ask Fintool Equity Research AI

Answer

CEO Christopher Simon clarified that the mid-to-high single-digit growth forecast refers to committed fractionation capacity expansion, which he views as a strong proxy for end-market demand and a floor for collections growth. He reiterated that the Hospital guidance change was driven by softness in the base VASCADE product, which offset strong growth from VASCADE MVP and MVP XL.

Ask Fintool Equity Research AI

Answer

CFO Bob Marshall confirmed this was "not an unfair assumption," acknowledging that the current pricing dynamics will annualize through the first half of 2026. President Paul Blanchfield reiterated that the immediate priority is stabilizing Polarify in 2025 to set up the franchise for long-term success.

Ask Fintool Equity Research AI

Answer

CEO Brian Markison acknowledged a 'stroke of the pen risk' for switching among smaller, later-adopter accounts that are more price-sensitive and were not the company's initial strategic focus. He emphasized that the company's primary efforts have been concentrated on securing its major, high-volume accounts, where switching has not been a significant issue.

Ask Fintool Equity Research AI

Answer

CEO Brian Markison confirmed that the growth will be led by PYLARIFY and DEFINITY. However, the acceleration to double-digit growth is expected to be driven by up to three potential new launches in 2026: PNT2003, and, pending acquisition closures, Neuroseq and OCTEVY. These new products would supplement the core portfolio to drive the growth profile.

Ask Fintool Equity Research AI

Answer

President and CEO Michael Dale stated that the BLA process is on track and that the current work revolves around adapting the quality system from a device to a biologic standard, which is an expected step. He noted that discussions with the FDA regarding the product label were just beginning and that the company could not provide any guidance on the topic until the process is complete.

Ask Fintool Equity Research AI

Answer

CEO Michael Dale responded that pricing is evaluated annually and did not provide a specific timeline for the sustainability of increases. Regarding clinical efforts, he emphasized that the studies are affordable and can be funded by operations. He stressed the strategic necessity of generating Level 1 evidence to support surgeon confidence and, crucially, to strengthen coverage and payment policies, stating, "if we don't start this stuff, it never gets done."

Ask Fintool Equity Research AI

Answer

CEO Michael Dale confirmed that Axogen has sufficient manufacturing capacity for the duration of its current multi-year planning period. Regarding the share count, Dale and CFO Nir Naor advised using the currently reported number, noting the company expects to self-fund its growth and does not anticipate a near-term equity raise.

Ask Fintool Equity Research AI

Answer

CEO Michael Dale responded that his biggest 'recognition' was how early the company still is in its market development journey. Regarding the prostate opportunity, he generalized that elective procedures outside of trauma offer a more controlled environment, allowing Avance the potential to work with even higher efficacy, representing a significant future opportunity.

Ask Fintool Equity Research AI

Answer

CEO Laura Francis explained that while they don't break out the specific number, interventionalists are a strong growth driver, preferring iFuse Torque and iFuse Intra. She noted that surgeons still account for the majority of volume. Regarding the outpatient shift for Granite, Francis confirmed significant tailwinds from proposed CMS changes, including a new Level 7 APC payment for lumbar fusions and the removal of open SI joint fusion from the inpatient-only list, which could accelerate the move to lower-cost sites of service.

Ask Fintool Equity Research AI

Answer

CEO Laura Francis highlighted the strong Q1 execution and broad-based demand as foundational for the year. CFO Anshul Maheshwari noted that long-term secular tailwinds, including a differentiated product portfolio and reimbursement advantages, support sustained growth potential. Francis attributed the productivity gains to the hybrid sales model, where agents cover long procedures, freeing up territory managers for market development, and stated they can exceed the $2 million mark.

Ask Fintool Equity Research AI

Answer

CEO Laura Francis stated that SI-BONE is competing effectively as the market leader due to its extensive product portfolio, educational approach, and clinical data. CFO Anshul Maheshwari confirmed the 40% growth metric, noting that while the specific percentage of active doctors using multiple products isn't disclosed, it's a key indicator of the strategy to drive procedure density, with nearly half of new physician adds performing multiple procedure types.

Ask Fintool Equity Research AI

Answer

President and CEO Daniel Carestio confirmed confidence in the Life Sciences forecast, citing strong recurring revenue and a robust capital equipment backlog entering fiscal 2026. SVP and CFO Michael Tokich detailed the fiscal 2026 outlook, noting that benefits from restructuring savings and lower litigation costs are expected to offset headwinds from tariff impacts and higher incentive compensation.

Ask Fintool Equity Research AI

Answer

Liam Kelly, Chairman, President and CEO, confirmed that the vast majority of OEM revenues are based in the Americas. Regarding MANTA, he stated that the product continues to penetrate the market for TAVR and EVAR procedures. He noted that the company is now focusing on deeper penetration within EVAR, where it has found pricing to be more favorable compared to TAVR.

Ask Fintool Equity Research AI