Artivion Stock Earnings Reports

Artivion reported Q1 2026 revenue of $116.3M, up 12% constant currency, and adjusted EBITDA of $22.1M (19% margin), up ~26% YoY. Growth was led by On‑X (up 17%) and tissue processing (up 23%), while stent grafts grew 10% but missed expectations due to softer AMDS starter set sales in the U.S., weaker international stent graft performance (notably the Middle East), and some supplier/supply‑chain constraints. Management announced it has exercised its option to acquire Endospan following FDA PMA approval of the NEXUS aortic arch stent graft; the deal is expected to close in 2026 with a planned full U.S. commercial launch 01/01/2027. The company drew $150M on its term loan to fund the $135M upfront purchase price and anticipates ~ $8M of incremental expense in 2026 related to the acquisition (launch preparation, R&D/clinical, and run‑rate costs), which would lower the prior adjusted EBITDA range to approximately $92M–$99M if the acquisition closes. Management continues to expect AMDS PMA midyear 2026, sees strong implant/reorder behavior in AMDS accounts (but starter‑set adoption is being delayed by IRB/budget processes), and remains focused on four growth drivers: AMDS PMA/commercialization, On‑X clinical data and share gains, NEXUS acquisition/launch, and the ARTISON trial (C‑Branch LSA) with anticipated enrollment completion mid‑2027. Full‑year 2026 guidance was narrowed/adjusted to 7%–11% adjusted constant currency revenue growth ($480M–$496M reported) and adjusted EBITDA $100M–$107M (before Endospan impact). Net leverage improved to ~1.8x at quarter end.