Artivion reports Q4 adjusted EPS 11c, consensus (10c)

Reports Q4 revenue $93.7M, consensus $89.29M. “2023 was a standout year for Artivion as we exceeded our revenue and adjusted EBITDA growth targets and continued to deliver on our mission to enhance our world class, aortic focused company with a highly differentiated product portfolio and global footprint. Revenue growth in the fourth quarter was strong across all four of our product lines and all four geographies, driven by particularly strong performance in On-X with 19% constant currency growth and tissue processing with 18% constant currency growth,” said Pat Mackin, Chairman, President, and CEO. Mackin added, “In addition to our strong commercial results, we also completed enrollment for our PERSEVERE clinical trial which met every primary endpoint and has set the stage for success with AMDS. Trial data out to 30 days demonstrated a 72% reduction in all-cause mortality and a 52% reduction in the primary composite endpoint of major adverse events, with zero occurrence of distal anastomotic new entry, or DANE, when compared to the current standard of care hemiarch procedure. We continue to work with the FDA toward PMA approval, which we anticipate in the second half of 2025.” Mackin concluded, “Given our solid financial performance, improved capital structure, ongoing clinical progress and operational achievements in 2023, we enter 2024 with strong momentum and confidence in our ability to deliver profitable growth.”