Artivion (AORT) Reports Q1
Shares of Artivion (AORT) are up over 12% today after the company beat expectations in the first quarter. Revenue grew 1.6% (Q1 of last year was a monster quarter so a tough comparison) to $99 million versus expectations of $94.8 million while adjusted EPS of $0.06 beat expectations by $0.02.
Management raised the low end of full-year revenue guidance (now $423 - $435 million) by $3 million, which puts the low end just above consensus. The implied revenue growth rate is 11% to 14% and could be toward the higher end if the U.S. dollar remains weak.
Turning to commentary on the products, management said AMDS sales should grow sequentially each quarter of the year and the market potential could grow as clinical outcomes suggest more application possibilities. On-X should grow in double digits for the foreseeable future. The cybersecurity event that halted tissue sales in the previous quarter is behind the company, and one-third of the backlog was fulfilled in Q1, with the other two-thirds expected in the next two quarters. All sounds good there.
Management also touched on the progress with Endospan, which presented new clinical data for its NEXUS aortic stent graft system just a few days ago. Trial data out to 30 days met its primary endpoints and demonstrated statistically significant improvement in clinical outcomes. NEXUS remains on track for FDA approval in the second half of 2026, which would trigger an acquisition option.
A good quarter that has the stock on the move and back above its 200-day line. Looking for follow-through in the coming days. Keeping at buy, but keep new positions on the small side until we see how the stock acts in the next couple of days. BUY
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