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Jun 30, 2024
Artivion Q2 2024 Earnings Report
Reported a revenue increase of 10% and raised full year revenue and adjusted EBITDA expectations for 2024.
Key Takeaways
Artivion reported a 10% increase in revenue for the second quarter of 2024, driven by growth in On-X and stent grafts, as well as strong performance in Latin America and Asia Pacific. The company raised its full year revenue and adjusted EBITDA guidance.
Revenue of $98.0 million, a 10% increase year-over-year on a GAAP and constant currency basis.
Net loss of ($2.1) million, or ($0.05) per fully diluted share; non-GAAP net income of $2.9 million, or $0.07 per fully diluted share.
Adjusted EBITDA increased 35% to $18.6 million.
Raised FY24 revenue guidance to 10% to 12% year-over-year growth on a constant currency basis and adjusted EBITDA guidance to 28% to 34% year-over-year growth.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Artivion is raising its revenue guidance range and now expects constant currency revenue growth of between 10% to 12% for the full year 2024. Additionally, Artivion is raising its adjusted EBITDA guidance range and now expects growth of between 28% and 34% for the full year 2024.
Positive Outlook
- Expects constant currency revenue growth of between 10% to 12% for the full year 2024.
- Revenues to be in the range of $388 to $396 million.
- Expects negligible year-over-year currency impact on the full year 2024 revenues.
- Expects adjusted EBITDA to increase between 28% and 34% for the full year 2024 compared to 2023.
- Adjusted EBITDA in the range of $69 to $72 million in 2024.
Challenges Ahead
- The company's financial performance for 2024 and future periods is subject to risks.
- Unpredictability of the timing and outcome of regulatory decisions.
- The benefits anticipated from the Ascyrus Medical LLC transaction and Endospan agreements and our operational improvements in our tissue and stent graft business may not be achieved at all or at the levels we anticipate or had originally anticipated.
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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