XVIVO Perfusion (XVIVO) Q4 2024 earnings summary

Executive summary

• Net sales reached SEK 822.4 million for 2024, up 39% year-over-year, with strong organic growth and robust performance across all business areas.

• Q4 2024 net sales were SEK 228 million, up 46% year-over-year, with record EBITDA and operating cash flow.

• Adjusted EBITDA margin improved to 23% in Q4 and 22% for the year, reflecting operational leverage and scalability.

• Over 12,000 patients benefited from products and services in 2024, with major clinical and regulatory milestones achieved, including key publications in The Lancet and the first cross-Atlantic heart transplant.

• Continued investment in commercial expansion, R&D, and supply chain to support future growth and market penetration.

Financial highlights

• Q4 gross profit was SEK 175 million (77% margin); full-year gross profit SEK 616 million (75% margin).

• Adjusted EBIT for 2024 was SEK 115.6 million; adjusted EBITDA was SEK 183.1 million.

• Q4 adjusted EBIT margin: 7%; adjusted EBITDA margin: 23%.

• Cash flow from operating activities in Q4 was SEK 62 million; year-end cash position was SEK 416 million.

• Investments totaled SEK 111 million, mainly in R&D, clinical trials, and the FlowHawk acquisition.

Outlook and guidance

• Expects continued sales growth in 2025, with ongoing investments in organization, field force, and supply chain.

• Anticipates regulatory approval and launch of heart product in Europe and Pacific, and initiation of US Liver Assist PMA study.

• Plans to expand kidney product launch in the US and scale up manufacturing to meet demand.

• Regulatory investments will target heart and liver PMA approvals over the next two years.