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Sep 30, 2021
Artivion Q3 2021 Earnings Report
Reported an increase in revenue and net income despite headwinds from the Delta variant.
Key Takeaways
CryoLife reported an 11% increase in total revenues compared to Q3 2020, driven by recent product launches and strength in the U.S. On-X aortic valve business. Net income was $10.6 million, or $0.26 per share, compared to a net loss of ($2.9) million, or ($0.08) per share for the third quarter of 2020.
Total revenues increased by 11% on a GAAP basis and 9% on a non-GAAP proforma constant currency basis.
Net income was $10.6 million, or $0.26 per share.
Non-GAAP net loss was ($1.2) million, or ($0.03) per share.
Submitted PMAs to FDA for PerClot and PROACT Mitral and anticipate receiving approvals for both in 2022.
Forward Guidance
Company expects revenues for the full year to be between $296.0 and $299.0 million dollars and fourth quarter revenues are expected to be between $76.5 and $79.5 million dollars, reflecting pro forma constant currency growth of between 9.5% and 13.7% over the fourth quarter of 2019.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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