Jakub Mlejnek's questions to Artivion Inc (AORT) leadership • Q2 2025
Question
Jakub Mlejnek from Oppenheimer, on for Suraj Kalia, questioned the key drivers behind the expected adjusted EBITDA growth outpacing revenue growth and asked for an outlook on the stability and performance of the On-X business.
Answer
CFO Lance Berry attributed the strong EBITDA leverage to both SG&A discipline and gross margin expansion driven by a favorable product mix, particularly from the high-margin AMDS. CEO J. Patrick Mackin detailed multiple growth drivers for On-X, including its unique low INR indication, cross-selling from the AMDS launch, and compelling new clinical data, which are accelerating its growth. Lance Berry added that On-X's strength was a significant factor in the guidance raise.