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Mar 31, 2024
Artivion Q1 2024 Earnings Report
Artivion's first quarter results for 2024 were reported, demonstrating revenue growth and profitability.
Key Takeaways
Artivion reported a strong first quarter in 2024, with a 17% increase in revenue, reaching $97.4 million. The company achieved a net income of $7.5 million, or $0.18 per share, and a non-GAAP net income of $2.6 million, or $0.06 per share. Due to this strong performance, Artivion raised the lower end of its full-year revenue guidance.
Revenue increased by 17% to $97.4 million compared to Q1 2023.
Net income was $7.5 million, or $0.18 per fully diluted share.
Non-GAAP net income reached $2.6 million, or $0.06 per fully diluted share.
FY24 revenue guidance was revised to 9% to 12% year-over-year growth on a constant currency basis.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Artivion expects constant currency revenue growth of between 9% to 12% for the full year 2024. Revenues are expected to be in the range of $386 to $396 million. Non-GAAP adjusted EBITDA is expected to increase between 26% and 34% for the full year 2024, resulting in a range of $68 to $72 million.
Positive Outlook
- Revenue growth of 9% to 12% on a constant currency basis.
- Revenue expected to be in the range of $386 to $396 million.
- Non-GAAP adjusted EBITDA to increase between 26% and 34%.
- Non-GAAP adjusted EBITDA in the range of $68 to $72 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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