Artivion (AORT) investor relations material

Company overview and strategy

• Focuses on aorta-related products, including heart valves for patients under 65 and devices for aortic aneurysms and dissections.

• Targets double-digit business growth and EBITDA growth at twice the rate of sales, leveraging a differentiated PMA-protected product portfolio.

• Sales force and G&A are highly leverageable, with new U.S. pipeline products expected to drive gross margin expansion.

• International sales represent about half of revenue, with significant expansion in Asia and Latin America in recent years.

• Plans to shift investment focus toward maximizing U.S. growth as new high-margin products launch domestically.

Financial performance and guidance

• Midpoint revenue guidance for the year is $440 million with a 20% EBITDA margin.

• Consistent EBITDA margin expansion of 200–300 basis points annually, with further upside from new high-margin products.

• Expects sequential improvement in performance through 2025, driven by new product launches and easier comps.

• Capital allocation priorities include potential acquisition of Endospan, followed by debt reduction.

• Share repurchases are aspirational but not currently feasible due to cash position.

Product pipeline and innovation

• AMDS device for acute type A aortic dissection shows strong clinical results, with mortality reduced to 9.7% in trials.

• PMA submission for AMDS expected in Q2 next year, which will streamline hospital adoption.

• Arsivo (Arisan trial) is a third-generation frozen elephant trunk device, with first U.S. implant targeted before year-end.

• Nexus, a catheter-delivered aortic arch device, has completed 30-day data and awaits one-year data and FDA approval.

• Option to acquire Endospan post-FDA approval, with a $135 million upfront price and additional earnout.