During the fourth quarter of 2024, stent grafts saw a 36% growth on a constant currency basis compared to the same period the previous year. The growth was driven by AMDS in the U.S. and strong international growth in stent grafts. Year-over-year growth was due in part to an easier comp from the previous year’s cybersecurity incident.

Looking ahead, plans are in place to bring additional stent graft products to the U.S. and Japan, aiming to expand the total addressable market. On-X revenues grew by 24% year over year in the fourth quarter due to global market share gains and early traction in a new U.S. market opportunity. Clinical evidence supports the use of mechanical valves over bioprosthetic valves for younger patients.

Tissue processing revenue, impacted by a cybersecurity event in the previous year, increased by 6% year over year. BioGlue remained relatively flat compared to the previous year. The company continues to advance clinical programs and pipelines, with positive new clinical data from AMDS trials presented recently. Progress is being made on the ARTISAN trial for the Arecibo LSA product.

The company remains optimistic about its growth trajectory, with expectations of continued strong financial performance. Adjusted revenues for Q4 2025 were $118.3 million, up 18.5% compared to 2024. Adjusted EBITDA for the same period increased by 29%. Full-year adjusted revenues were $443.6 million, showing a 13% growth over 2024. Adjusted EBITDA margin improved to 20.2%.

The company addressed the impact of Italian payback legislation on its financials, recording a $2.3 million adjustment for estimated payback obligations for fiscal years 2019 through 2025. CapEx for 2026 is expected to be around $50 million, primarily to support capacity expansion for On-X. The company remains focused on driving revenue growth and expanding its market reach in the coming years.

Read more at Yahoo Finance: Artivion (AORT) Q4 2025 Earnings Call Transcript