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Mar 31, 2022
Artivion Q1 2022 Earnings Report
Artivion's first quarter results for 2022 were reported, showing revenue increase.
Key Takeaways
Artivion reported an 8.6% increase in revenue compared to Q1 2021, reaching $77.2 million. The company's growth was driven by a 34% increase in aortic stent grafts and an 11% increase in On-X sales. The company continues to expect to receive FDA PMA approval for PROACT Mitral and for PerClot this year.
Revenue increased by 8.6% on a GAAP basis to $77.2 million compared to Q1 2021.
Aortic stent grafts grew by 34% and On-X grew by 11% on a constant currency basis.
Asia Pacific grew by 39% and Latin America grew by 93% on a constant currency basis.
The company expects to receive FDA PMA approval for PROACT Mitral and PerClot in 2022.
Forward Guidance
Artivion continues to expect constant currency revenue growth of between 9.0% and 11.0% for the full year 2022 as compared to the full year 2021.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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