Artivion’s Q3 2024: Revenue Growth and Strategic Progress
Company Announcements

Artivion’s Q3 2024: Revenue Growth and Strategic Progress

Artivion Inc. ( (AORT) ) has released its Q3 earnings. Here is a breakdown of the information Artivion Inc. presented to its investors.

Artivion, Inc. is a medical device company based in Atlanta, Georgia, specializing in developing solutions for cardiac and vascular surgery, with a focus on aortic diseases.

Artivion recently announced its financial results for the third quarter of 2024, highlighting a revenue increase to $95.8 million, representing a 9% growth compared to the same period last year. The company also reported a net loss of $2.3 million, or $0.05 per diluted share, while achieving a non-GAAP net income of $5.0 million, or $0.12 per diluted share.

Key financial metrics for the third quarter included a 28% rise in adjusted EBITDA to $17.7 million. Revenue growth was driven by substantial increases in sales of On-X mechanical heart valves, BioGlue surgical sealants, and aortic stent grafts. The company also marked significant progress in its R&D pipeline, such as submitting the first module of the PMA application for the AMDS Hybrid Prosthesis with the FDA and receiving regulatory approval to commercialize BioGlue in China.

Looking forward, Artivion’s management remains optimistic, narrowing its revenue guidance for the full year 2024 to between $389 and $396 million, signifying a continued growth trajectory. The company also anticipates adjusted EBITDA growth of between 28% and 34% for the year, reflecting confidence in their strategic initiatives and market expansion efforts.

Related Articles
TheFlyArtivion narrows 2024 revenue view to $389M-$396M from $388M-$396M
TheFlyArtivion reports Q3 non-GAAP EPS 12c, consensus (6c)
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App