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Dec 31, 2019
Artivion Q4 2019 Earnings Report
CryoLife's financial performance in Q4 2019 reflected revenue growth and progress on key initiatives.
Key Takeaways
CryoLife reported a 3% increase in total revenues for Q4 2019, reaching $69.7 million. The company's net loss was ($681,000), or ($0.02) per share, while non-GAAP net income was $3.8 million, or $0.10 per share.
Total revenues reached $69.7 million, a 3% year-over-year increase.
On-X® revenues increased by 18% compared to Q4 2018.
Net loss was ($681,000), or ($0.02) per fully diluted common share; non-GAAP net income was $3.8 million, or $0.10 per fully diluted common share.
Received approval to commence the PROACT Xa trial and secured European approval for two next-generation JOTEC products.
Revenue by Segment
Forward Guidance
CryoLife anticipates constant currency revenue growth of between 6.3% and 8.5% for the full year of 2020, with revenues expected to be in the range of $292 million to $298 million, assuming a Euro/USD exchange rate of 1.10. Non-GAAP earnings per share for 2020 are expected to be between $0.15 and $0.17.
Positive Outlook
- Constant currency revenue growth of between 6.3% and 8.5% for the full year of 2020.
- Revenues are expected to be in the range of $292 million to $298 million, assuming a Euro/USD exchange rate of 1.10.
- Non-GAAP earnings per share for 2020 are expected to be between $0.15 and $0.17.
- Planned incremental investment in the Company’s pipeline.
- Additional investment in our Asia Pacific and Latin American infrastructure.
Challenges Ahead
- 2020 revenue guidance assumes no contribution during 2020 from BioGlue® in China.
- 2020 revenue guidance assumes no contribution during 2020 from PerClot® in the U.S.
- 2020 revenue guidance assumes no contribution during 2020 from TMR handpieces.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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