The following is a summary of the Artivion, Inc. (AORT) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Artivion reported Q1 revenue of $97.4 million, up 16% year-on-year in constant currency.

• The company saw an adjusted EBITDA growth of 60% compared to Q1 of 2023.

• Product line growth was led by tissue processing at 26%, followed by stent grafts at 19% and On-X at 11% growth compared to Q1 of 2023.

• From a regional standpoint, Latin America saw the most increase with 22%, followed by North America at 18%, while Asia saw a decrease of 3% compared to Q1 2023.

• Artivion's reported GAAP net income for Q1 of 2024 was approximately $7.5 million, or $0.18 per diluted share.

• The company managed to leverage SG&A costs effectively, leading to profitable financial results.

Business Progress:

• Artivion is seeing progress in key operational areas with robust growth in tissue processing, stent grafts, and On-X valves.

• The company released positive clinical data from its On-X low INR post-market study and AMDS persevere trial.

• Regulatory approvals have been secured in key international markets, allowing for expansion.

• The company expects future growth to come primarily from the stent graft business, market share gains of On-X, growth from its proprietary SynerGraft pulmonary valve, and expansion in the APAC and Latin America.

More details: Artivion IR

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