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Sep 30, 2022
Artivion Q3 2022 Earnings Report
Artivion's third quarter results were announced, showing revenue growth and progress in strategic initiatives.
Key Takeaways
Artivion reported a 6% increase in revenue on a GAAP basis and an 11% increase on a non-GAAP constant currency basis compared to the third quarter of 2021. The company experienced growth across all major product lines and made progress in advancing its product pipeline.
Total revenues for the third quarter of 2022 were $76.8 million, up 6% on a GAAP basis and 11% on a non-GAAP constant currency basis compared to Q3 2021.
On-X revenues increased 17% on a GAAP basis and 19% on a non-GAAP constant currency basis compared to Q3 2021.
Net loss for the third quarter of 2022 was ($13.7) million, or ($0.34) per fully diluted common share.
Artivion is narrowing its constant currency revenue growth to between 9% and 10% for the full year of 2022 compared to 2021.
Forward Guidance
Artivion is narrowing its constant currency revenue growth to between 9% and 10% for the full year of 2022 compared to 2021. With the continued appreciation of the dollar versus other major currencies, full year revenues are now expected to be between $313.0 million and $316.0 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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