Artivion's fourth-quarter revenue increased by 18% on a GAAP basis and 15% on a non-GAAP constant currency basis, reaching $93.7 million. The company's non-GAAP net income was $4.6 million, or $0.11 per fully diluted share. The revenue growth was strong across all four product lines and geographies, with On-X and tissue processing showing particularly strong performance.
Revenue increased by 18% on a GAAP basis and 15% on a non-GAAP constant currency basis.
Non-GAAP net income was $4.6 million, or $0.11 per fully diluted share.
Non-GAAP adjusted EBITDA increased 40% to $15.3 million.
Full enrollment of the AMDS PERSEVERE clinical trial was completed, demonstrating a significant reduction of all-cause mortality and primary major adverse events.
The Company expects revenues for the full year 2024 to be in the range of $382 to $396 million, representing growth of 8% to 12% compared to 2023 on both an as reported and constant currency basis. Artivion expects non-GAAP adjusted EBITDA, to increase between 26% and 34% for the full year 2024 compared to 2023, resulting in non-GAAP adjusted EBITDA to be in the range of $68 to $72 million in 2024.
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