ATLANTA, Oct. 24, 2024 /PRNewswire/ -- Artivion, Inc. (NYSE: AORT), a leading cardiac and vascular surgery company focused on aortic disease, announced today that third quarter 2024 financial results will be released on Thursday, November 7, 2024 after the market closes. On that day, the Company will hold a teleconference call and live webcast at 4:30 p.m. ET to discuss the results, followed by a question and answer session hosted by Pat Mackin, Chairman, President and Chief Executive Officer of Artivion.To ...

5-Year Data from the AMDS DARTS Trial Demonstrates Positive Aortic Remodeling with 94% of Patients Free from Unanticipated Reoperation 30-Day Data from the AMDS PERSEVERE Trial Shows Cerebral Malperfusion Resolution in 90% of Affected Subjects Post-AMDS Implantation1-Year Data from the NEOS Study Indicate E-vita Open Neo is Safe and Effective in the Treatment of Aortic Arch Pathologies with Low Combined Major Adverse Events RateATLANTA, Oct. 10, 2024 /PRNewswire/ -- Artivion, Inc. (NYSE: AORT), a leading ca ...

2Q 2024 Earnings Presentation August 8, 2024 1 © 2024 Artivion, Inc. FORWARD-LOOKING STATEMENT Statements made in this presentation that look forward in time or that express management's beliefs, expectations, or forecasts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the views of management at the time such statements are made. These statements include our beliefs that we will deliver between $388 - $396 mi ...

Financial Data and Key Metrics Changes - In Q2 2024, the company reported total revenues of $98 million, reflecting a 10% increase year-over-year in constant currency [6][17] - Adjusted EBITDA grew 35% year-over-year, increasing from $13.8 million to $18.6 million, with an adjusted EBITDA margin of 19%, a 350-basis-point improvement [6][17] - General administrative and marketing expenses decreased from $57.2 million in Q2 2023 to $49.3 million in Q2 2024, indicating improved expense management [17][20] Business Line Data and Key Metrics Changes - On-X revenues increased by 15% year-over-year on a constant currency basis, driven by market share gains [7][17] - Stent graft revenues grew 13% year-over-year, supported by a differentiated product portfolio [8][17] - BioGlue revenues rose 12% year-over-year, with expectations of mid-single-digit growth for the full year [9][17] - Tissue processing revenues increased by 7% year-over-year, with expectations for double-digit growth for the full year [10][17] Market Data and Key Metrics Changes - Revenues in Latin America increased by 25% year-over-year, while Asia-Pacific revenues grew by 15% [11][19] - EMEA revenues rose by 13%, and North America saw a 5% increase compared to Q2 2023 [19] Company Strategy and Development Direction - The company is focused on expanding access to its differentiated product portfolio in existing and new markets, particularly in Latin America and Asia-Pacific [7][11] - The amended agreements with Endospan are viewed as an investment in the future of aortic repair, providing greater financial flexibility [15][21] - The company anticipates PMA approval for AMDS in 2025, which would open a $150 million addressable market in the U.S. [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining momentum throughout 2024, driven by growth in On-X, stent grafts, and SynerGraft pulmonary valves [15][25] - The company raised its fiscal year 2024 revenue guidance to a growth range of 10% to 12% and adjusted EBITDA guidance to $69 million to $72 million [22][23] - Management highlighted the potential for double-digit growth in the long term, supported by a strong product pipeline and market position [46][47] Other Important Information - The company does not anticipate the need to raise additional capital to fund its debt obligations or investments in the foreseeable future [21] - Free cash flow was reported at $3.6 million for Q2 2024, with expectations for positive free cash flow for the full year [20] Q&A Session Summary Question: Clarification on EBITDA growth and investments - Management indicated that Q3 growth may be lighter than Q2 due to timing, with Q3 typically being the lowest revenue quarter [30] Question: On-X unit growth and pricing - Management did not break out price versus volume but confirmed continued market share growth and price increases for On-X [31][32] Question: On NEXUS trial enrollment and commercial adoption - Management noted that the trial is nearing completion, with expectations for modest uptake upon launch, followed by further trials [39][40] Question: Sales rep productivity and commission structure - Management highlighted the effectiveness of the sales force, with experienced reps capable of driving growth without needing to scale one-to-one with revenue [42][43] Question: Long-term growth expectations - Management expressed confidence in maintaining double-digit growth and leveraging the existing product portfolio for future growth [46][47] Question: BioGlue performance and outlook - Management noted strong growth in Q2 but cautioned against projecting that growth consistently due to the lumpy nature of the business [55] Question: Aortic stent graft portfolio performance - Management confirmed strong double-digit growth across the differentiated stent graft segment, without breaking out specific SKUs [57]

Revenue Performance - Artivion reported quarterly revenues of $98.0 million for the three months ended June 30, 2024, a 10% increase from $89.3 million in the same period of 2023[117]. - Revenues from aortic stent grafts increased by 14% to $32.2 million for the three months ended June 30, 2024, compared to $28.4 million in the same period of 2023[123]. - On-X product revenues rose by 15% to $20.6 million for the three months ended June 30, 2024, up from $17.9 million in the prior year[123]. - Surgical sealants revenues increased by 12% to $18.5 million for the three months ended June 30, 2024, compared to $16.6 million in the same period of 2023[123]. - Preservation services revenues grew by 7% to $24.8 million for the three months ended June 30, 2024, from $23.2 million in the same period of 2023[123]. - Total revenues for the six months ended June 30, 2024, were $195.5 million, reflecting a 13% increase from $172.5 million in the same period of 2023[124]. - Constant currency revenues increased by 10% for the three months ended June 30, 2024, and by 13% for the six months ended June 30, 2024, compared to the same periods in 2023[130]. - Aortic stent grafts accounted for 33% of total revenues for the three months ended June 30, 2024, up from 32% in the same period of 2023[123]. - The company anticipates continued growth in revenues driven by increased sales of aortic stent grafts, On-X products, and surgical sealants[131]. - Revenues from the sales of aortic stent grafts increased 18% for the six months ended June 30, 2024, compared to the same period in 2023, driven by increased unit sales and higher average sales prices[134]. - Revenues from On-X products increased 15% for the three months ended June 30, 2024, compared to the same period in 2023, primarily due to increased unit sales[136]. - Domestic revenues from On-X products accounted for 59% and 61% of total On-X revenues for the three and six months ended June 30, 2024, respectively, up from 58% and 59% in the same periods of 2023[138]. - Revenues from surgical sealants increased 12% for the three months ended June 30, 2024, compared to the same period in 2023, mainly due to increased volume sold[139]. - Revenues from tissue processing increased 16% for the six months ended June 30, 2024, compared to the same period in 2023, driven by higher average sales prices[147]. Cost and Expenses - Cost of products increased 17% and 19% for the three and six months ended June 30, 2024, respectively, compared to the same periods in 2023, due to higher costs of aortic stent grafts and increased shipping volumes[148]. - Gross margin increased 9% and 13% for the three and six months ended June 30, 2024, respectively, compared to the same periods in 2023, remaining flat at 65% as a percentage of total revenues[152]. - General, administrative, and marketing expenses decreased 14% and 26% for the three and six months ended June 30, 2024, respectively, compared to the same periods in 2023, primarily due to reduced business development expenses[157]. - Other revenues decreased 42% and 15% for the three and six months ended June 30, 2024, respectively, due to a decrease in PerClot product revenues[143]. Financial Position - Net working capital as of June 30, 2024, was $234.4 million, with a current ratio of 6 to 1, compared to $222.8 million and a current ratio of 5 to 1 at December 31, 2023[171]. - The company incurred a net loss of $2.121 million for the three months ended June 30, 2024, compared to a net loss of $3.382 million for the same period in 2023, while net income for the six months ended June 30, 2024, was $5.412 million compared to a net loss of $16.914 million for the same period in 2023[164]. - The effective income tax rate was a benefit of 13% for the three months ended June 30, 2024, compared to an expense of 27% for the same period in 2023, and an expense of 48% for the six months ended June 30, 2024, compared to 46% for the same period in 2023[165]. - The company has $320.3 million in scheduled principal payments and $138.1 million in anticipated interest payments related to its debt obligations[190]. - As of June 30, 2024, approximately 29% of cash and cash equivalents were held in foreign jurisdictions[183]. - An additional 10% adverse change in exchange rates could impact the company's financial position or cash flows by approximately $7.0 million[198]. Debt and Financing - Interest expense rose to $8.3 million and $16.1 million for the three and six months ended June 30, 2024, respectively, compared to $6.4 million and $12.5 million for the same periods in 2023, primarily due to increased interest rates from debt refinancing[161]. - The company recorded a loss on extinguishment of debt of $3.7 million during the six months ended June 30, 2024, related to the extinguishment of a previously existing term loan[162]. - The company entered into a credit and guaranty agreement for $350.0 million on January 18, 2024, consisting of a $190.0 million secured term loan facility and a $60.0 million secured revolving credit facility[175]. - The company recognized $6.9 million and $12.7 million of interest expense on the Credit Facilities for the three and six months ended June 30, 2024, respectively[176]. - The fair value of the $100.0 million Convertible Senior Notes issued on June 18, 2020, was approximately $125.5 million as of June 30, 2024, with an effective interest rate of 5.05%[180]. - The company is eligible to redeem the Convertible Senior Notes starting July 5, 2023, if certain stock price conditions are met[182]. Cash Flow and Investments - Cash flows from operating activities decreased to $642,000 for the six months ended June 30, 2024, down from $755,000 in the same period of 2023, representing a decline of approximately 15%[186]. - Net cash used in investing activities was $6.1 million for the six months ended June 30, 2024, compared to net cash provided of $4.2 million in the same period of 2023, indicating a significant shift of $10.3 million[188]. - Net cash provided by financing activities decreased to $556,000 for the six months ended June 30, 2024, down from $3.4 million in 2023, a decline of approximately 84%[189]. - Capital expenditures for the six months ended June 30, 2024, were $6.1 million, slightly up from $5.0 million in the same period of 2023[193]. - The company has contingent payment obligations of up to $100.0 million to former shareholders of Ascyrus upon achieving certain milestones[191].

Exhibit 99.1 FOR IMMEDIATE RELEASE Contacts: Artivion Gilmartin Group LLC Lance A. Berry Brian Johnston / Laine Morgan Executive Vice President & Phone: 332-895-3222 Chief Financial Officer investors@artivion.com Phone: 770-419-3355 Artivion Reports Second Quarter 2024 Financial Results Second Quarter Highlights: • Achieved revenue of $98.0 million in the second quarter of 2024 versus $89.3 million in the second quarter of 2023, an increase of 10% on both a GAAP and constant currency basis • Net loss was ($ ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission file number: 1-13165 ARTIVION, INC. (Exact name of registrant as specified in its charter) Delaware 59- ...

Artivion, Inc. (NYSE:AORT) Q1 2024 Earnings Conference Call May 6, 2024 4:30 PM ET Company Participants Eileen Martin - Investor Relations Pat Mackin - Chief Executive Officer Lance Berry - Chief Financial Officer Conference Call Participants Mike Matson - Needham & Company Suraj Kalia - Oppenheimer & Company Frank Takkinen - Lake Street Capital Markets Jeffrey Cohen - Ladenburg Thalmann Operator Greetings. Welcome to Artivion First Quarter 2024 Financial Conference Call. [Operator Instructions] As a remind ...

Company Performance - Artivion reported quarterly earnings of $0.06 per share, exceeding the Zacks Consensus Estimate of $0.02 per share, and compared to earnings of $0.02 per share a year ago, representing an earnings surprise of 200% [1] - The company posted revenues of $97.43 million for the quarter ended March 2024, surpassing the Zacks Consensus Estimate by 5.56%, and compared to year-ago revenues of $83.23 million [1] - Artivion has surpassed consensus EPS estimates four times over the last four quarters [1] Stock Movement and Outlook - Artivion shares have increased approximately 17.1% since the beginning of the year, outperforming the S&P 500's gain of 7.5% [2] - The sustainability of the stock's price movement will depend on management's commentary during the earnings call [2] - The current consensus EPS estimate for the coming quarter is $0.03 on revenues of $98.25 million, and for the current fiscal year, it is $0.26 on revenues of $388.9 million [4] Industry Context - The Medical - Instruments industry, to which Artivion belongs, is currently ranked in the bottom 41% of over 250 Zacks industries, indicating potential challenges for stock performance [5] - Another company in the same industry, Penumbra, is expected to report quarterly earnings of $0.42 per share, reflecting a year-over-year change of +82.6%, with revenues expected to be $274.82 million, up 13.8% from the year-ago quarter [5][6]

Exhibit 99.1 FOR IMMEDIATE RELEASE | --- | |----------------------------| | | | | | Contacts: | | Artivion | | Lance A. Berry | | Executive Vice President & | | Chief Financial Officer | | Phone: 770-419-3355 | Gilmartin Group LLC Brian Johnston / Laine Morgan Phone: 332-895-3222 investors@artivion.com Artivion Reports First Quarter 2024 Financial Results First Quarter Highlights: • Achieved revenue of $97.4 million in the first quarter of 2024 versus $83.2 million in the first quarter of 2023, an increase ...