CryoLife reported a 7% increase in total revenues compared to Q1 2020. The company's growth was driven by new product launches outside the U.S., a recovery in procedure volume in the U.S., an improved JOTEC inventory position, and international expansion efforts.
Total revenues increased by 7% on a GAAP basis.
Net loss was ($3.1) million, or ($0.08) per share.
Non-GAAP net income was $1.4 million, or $0.03 per share.
Company is on-track to file PMAs for PerClot and PROACT Mitral later in 2021.
Due to continued uncertainties resulting from the COVID-19 global pandemic, particularly in Europe, the Company is not issuing full year 2021 financial guidance at this time.
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