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Dec 31, 2021
Artivion Q4 2021 Earnings Report
Artivion achieved record revenue and advanced its product pipeline.
Key Takeaways
Artivion reported record quarterly revenues of $79.4 million, driven by aortic stent grafts and strength in the US On-X aortic valve business. The company's net loss was $20.1 million, or $0.51 per share, while non-GAAP net loss was $0.141 million, or $0.00 per share. Artivion is progressing with regulatory approvals and expects continued growth, reflected in their positive financial outlook.
Achieved record revenue of $79.4 million, a 16.9% increase year-over-year.
Received FDA approval to launch enrollment in AMDS clinical trial.
Filed PMA with FDA for US PerClot Approval in October 2021.
Advanced product pipeline with expectations for FDA PMA approval for PROACT Mitral and PerClot.
Forward Guidance
Artivion expects constant currency revenue growth of between 9.0% and 11.0% for the full year 2022 compared to the full year 2021. Assuming a Euro/USD exchange rate of 1.13 and the related 2%, or approximately $6.0 million revenue headwind compared to 2021, revenues are expected to be in the range of $319.0 million to $325.0 million.
Positive Outlook
- Constant currency revenue growth expected between 9.0% and 11.0% for full year 2022
- Revenue is expected to be in the range of $319.0 million to $325.0 million.
- Anticipated growth in revenue
- Continued execution of key initiatives
- Positive financial outlook
Challenges Ahead
- Financial performance subject to risks
- Euro/USD exchange rate of 1.13 creates revenue headwind
- Continued effects of COVID-19
- Hospital staffing shortages
Historical Earnings Impact
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Avg. Return Before/After Earnings
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