Earnings summaries and quarterly performance for ARTIVION.
Executive leadership at ARTIVION.
J. Patrick Mackin
President and Chief Executive Officer
Jean F. Holloway
Senior Vice President, General Counsel, Chief Compliance Officer, and Corporate Secretary
John E. Davis
Senior Vice President, Chief Commercial Officer
Lance A. Berry
Chief Operating Officer and Chief Financial Officer
Marshall S. Stanton
Senior Vice President, Clinical Research and Chief Medical Officer
Board of directors at ARTIVION.
Research analysts who have asked questions during ARTIVION earnings calls.
Daniel Stauder
Citizen JMP
5 questions for AORT
Nelson Cox
Lake Street Capital Markets
4 questions for AORT
Bill Plovanic
Canaccord Genuity
3 questions for AORT
Michael Matson
Needham & Company
3 questions for AORT
Suraj Kalia
Oppenheimer & Co. Inc.
3 questions for AORT
Frank Takkinen
Lake Street Capital Markets
2 questions for AORT
Jacob Mellinger
Oppenheimer
2 questions for AORT
John McAulay
Stifel
2 questions for AORT
John McCalley
Stifel
2 questions for AORT
Mike Matson
Needham & Company, LLC
2 questions for AORT
Daniel Stoter
JMP Securities
1 question for AORT
Destiny Hance
Ladenburg Thalmann
1 question for AORT
Frederick Wise
Stifel
1 question for AORT
Jakub Mlejnek
Oppenheimer & Co. Inc.
1 question for AORT
Joseph Conway
Needham & Company, LLC
1 question for AORT
Recent press releases and 8-K filings for AORT.
- Artivion reported Q4 2025 adjusted revenues of $118.3 million, an 18.5% increase year-over-year, and full-year 2025 adjusted revenues of $443.6 million, representing 13% constant currency growth. Adjusted EBITDA for Q4 2025 increased 29% to $22.7 million, and for the full year, it grew 26%.
- The company provided full-year 2026 guidance, projecting reported revenue between $486 million and $504 million, which translates to 10%-14% constant currency growth, and adjusted EBITDA between $105 million and $110 million, an 18%-22% growth over 2025.
- Key product lines demonstrated strong constant currency growth in Q4 2025, with stent grafts up 36% and On-X up 24%. Artivion is advancing its pipeline, with AMDS PMA approval anticipated in mid-2026 and NEXUS approval expected in the second half of 2026.
- Free cash flow for full-year 2025 was approximately $1 million, despite significant investments, including $20 million for facility purchases. Capital expenditures are projected to be approximately $50 million in 2026, up from $39 million in 2025, primarily supporting On-X capacity expansion and IT systems.
- Artivion reported strong financial results for Q4 and full-year 2025, with total adjusted constant currency revenue growth of 13% and Adjusted EBITDA growth of 26% for the full year, achieving positive free cash flow. Q4 2025 adjusted revenues were $118.3 million, an 18.5% increase year-over-year, and Adjusted EBITDA grew 29% to $22.7 million.
- Key product lines driving Q4 2025 growth included stent grafts (up 36% constant currency) and On-X (up 24% constant currency). The company also noted a $2.3 million adjustment to revenue in Q4 2025 for estimated Italian payback obligations from 2019-2025, which was excluded from adjusted revenue.
- The company provided full-year 2026 guidance, expecting constant currency revenue growth between 10%-14% (reported revenue range of $486 million-$504 million) and adjusted EBITDA in the range of $105 million-$110 million (18%-22% growth over 2025).
- Pipeline progress includes the AMDS PMA approval on track for mid-2026 and NEXUS approval expected in H2 2026, with the ARTISAN trial for ARCEVO LSA anticipating FDA approval in 2029, unlocking new market opportunities. CapEx is projected at approximately $50 million in 2026, primarily for On-X capacity expansion.
- Artivion reported Non-GAAP revenue of $118.3 million for Q4 2025 and $443.6 million for the full year 2025.
- Adjusted EBITDA for Q4 2025 was $22.7 million, and for the full year 2025, it was $89.6 million.
- The company provided FY 2026 revenue guidance in the range of $486 million to $504 million, representing 10% to 14% year-over-year constant currency growth.
- FY 2026 adjusted EBITDA guidance is expected to be between $105 million and $110 million, growing 18% to 22% over FY25.
- Artivion expects PMA approval for AMDS by mid-2026 and for Endospan's NEXUS TRIOMPHE in the second half of 2026.
- Artivion reported strong financial performance for Q4 and full year 2025, with total adjusted revenues of $118.3 million in Q4, up 18.5%, and $443.6 million for the full year, up 13%. Adjusted EBITDA grew 29% in Q4 and 26% for the full year.
- Growth was primarily driven by product categories such as stent grafts, which increased 36% in Q4, and On-X revenues, which grew 24% year-over-year on a constant currency basis.
- For 2026, the company expects constant currency revenue growth between 10%-14%, translating to a reported revenue range of $486 million-$504 million. Adjusted EBITDA is projected to be $105 million-$110 million, representing 18%-22% growth over 2025.
- Key pipeline advancements include the AMDS PMA approval on track for mid-2026 and NEXUS approval anticipated in the second half of 2026. The ARTISAN trial for CEVO LSA is expected to complete enrollment in mid-2027, with FDA approval projected for 2029.
- The company recorded a $2.3 million adjustment to Q4 2025 revenue due to estimated Italian government payback obligations for fiscal years 2019 through 2025.
- Artivion, Inc. reported GAAP revenue of $116.0 million for Q4 2025 and $441.3 million for the full year 2025, achieving GAAP net income of $2.4 million ($0.05 per diluted share) for Q4 2025 and $9.8 million ($0.21 per diluted share) for the full year 2025.
- Adjusted revenue increased by 18% to $118.3 million in Q4 2025 and by 13% to $443.6 million for the full year 2025, both on an adjusted constant currency basis.
- Adjusted EBITDA grew 29% to $22.7 million in Q4 2025 and 26% to $89.6 million for the full year 2025.
- The company provided a 2026 financial outlook, projecting full-year revenues between $486 million and $504 million (10% to 14% growth on an adjusted constant currency basis) and adjusted EBITDA between $105 million and $110 million (18% to 22% growth).
- Artivion reported strong financial performance for Q4 and full year 2025, with adjusted revenue increasing 18% to $118.3 million in Q4 2025 and 13% to $443.6 million for the full year 2025 on an adjusted constant currency basis.
- The company achieved GAAP net income of $2.4 million ($0.05 per fully diluted share) and non-GAAP net income of $8.6 million ($0.17 per fully diluted share) in Q4 2025, a significant improvement from a net loss in Q4 2024.
- Adjusted EBITDA grew 29% to $22.7 million in Q4 2025 and 26% to $89.6 million for the full year 2025.
- For the full year 2026, Artivion expects revenues between $486 and $504 million and adjusted EBITDA between $105 and $110 million.
- Artivion, Inc. presented new clinical data from its NEXUS TRIOMPHE IDE trial and AMDS PERSEVERE IDE trial at the 62nd Annual Meeting of the Society of Thoracic Surgeons on February 2, 2026.
- The 1-year data from the NEXUS TRIOMPHE trial demonstrated 94% patient survival from lesion related death and 91% freedom from disabling stroke in high-risk patients.
- The 2-year data from the AMDS PERSEVERE trial showed positive aortic remodeling, minimal morbidity, and zero distal anastomotic new entry (DANE) tears between 1- and 2-year follow-up.
- These trials are crucial for Artivion's product pipeline, with the AMDS PERSEVERE trial supporting a PMA application currently under FDA review and the NEXUS TRIOMPHE trial's PMA clinical module anticipated after 1-year follow-up.
- Artivion (AORT) is strategically focused on aortic technologies, with past acquisitions yielding a robust pipeline including seven PMAs.
- The company is experiencing significant growth from its AMDS product, contributing to 31% organic growth in the aortic stent graft line in Q3. Additionally, the On-X mechanical heart valve business has seen 20%+ growth in recent quarters, driven by new clinical data indicating a survival advantage for mechanical valves and a $100 million market expansion opportunity in the US.
- Artivion projects double-digit revenue growth and EBITDA growth twice as fast as revenue for many years, with an expectation to reach total company gross margins of 70% through product mix.
- Key upcoming product launches include Nexus, with a US Total Addressable Market (TAM) of $150 million and potential revenue contribution in 2027-2028, and Arcevo, with a US TAM of $80 million, expected in 2029-2030. The company's immediate financial priorities include being positioned to acquire EndoSpan for Nexus and funding a $25 million milestone payment for AMDS PMA approval.
- Artivion (AORT) is experiencing accelerating revenue growth driven by its focused strategy on aortic treatments and a strong product pipeline.
- The company reported 31% organic growth in its aortic stent graft line in Q3, largely due to the U.S. launch of AMDS, which is also seen as market-expanding for acute type A dissections. New MS-DRG 209 is expected to further improve reimbursement for complex aortic arch procedures.
- The On-X mechanical heart valve business grew over 20% in the last two quarters, fueled by new clinical data showing a survival advantage for mechanical valves in patients aged 60 and younger compared to tissue valves. Artivion plans to target the $100 million bioprosthetic valve market with this data.
- Artivion maintains a long-term outlook of double-digit revenue growth and EBITDA growth at twice the rate of revenue, with expectations to achieve 70% total company gross margins through product mix.
- The company has a robust pipeline, with AMDS, Nexus, and Arcevo representing U.S. Total Addressable Markets (TAMs) of $150 million, $150 million, and $80 million respectively, with Japanese markets adding $50 million-$70 million for each.
- Artivion projects double-digit revenue growth and EBITDA growth at twice the rate of revenue for many years, aligning with 2026 consensus estimates of 11% revenue growth and 18% adjusted EBITDA growth.
- The company anticipates reaching 70% total company gross margins through the introduction of high-margin aortic products in the U.S., such as AMDS, which is already contributing to gross margin expansion.
- The On-X Mechanical Heart Valve business is experiencing 20%+ growth, driven by new clinical data demonstrating a survival advantage and opening a $100 million market expansion opportunity in the U.S..
- Artivion's product pipeline includes AMDS (US TAM $150 million), Nexus (US TAM $150 million, potential launch 2027/2028), and Arcevo (US TAM $80 million, potential launch 2029/2030), with Japanese markets adding $50 million-$70 million for each.
- Strategic financial priorities include securing the potential acquisition of EndoSpan with a $150 million delayed draw term loan and funding a $25 million milestone payment for AMDS PMA approval, followed by aggressive debt reduction.
Quarterly earnings call transcripts for ARTIVION.
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