Business
LivaNova Reports Second-Quarter 2024 Results
LONDON--(BUSINESS WIRE)-- LivaNova PLC (Nasdaq: LIVN), a market-leading medical technology company, today reported results for the quarter ended June 30,
About this update from Livanova Plc
[{"type":"text","content":" LONDON--(BUSINESS WIRE)--\nLivaNova PLC (Nasdaq: LIVN), a market-leading medical technology company, today reported results for the quarter ended June 30, 2024 and raised full-year 2024 revenue and adjusted diluted earnings per share guidance.\n\n\nFinancial Summary and Highlights(1)\n\n\n\nSecond-quarter revenue of $318.6 million increased 8.4% on a reported basis and 9.6% on a constant-currency basis, as compared to the prior-year period. Excluding the impact of the Advanced Circulatory Support (ACS) segment wind down, revenue increased 10.8% on a constant-currency basis.\n\n\n\nSecond-quarter U.S. GAAP diluted earnings per share of $0.30 and adjusted diluted earnings per share of $0.93.\n\n\n\nFranco Poletti named President of Cardiopulmonary (CP) Business Unit, effective August 1, 2024. Poletti has more than 40 years of LivaNova service, most recently as Interim General Manager of CP and Vice President of CP for Europe.\n\n\n\nAnnounced the preliminary results for the unipolar patient cohort of the RECOVER clinical study on June 6, 2024. Following additional in-depth analyses of the data, intends to pursue U.S. Centers for Medicare and Medicaid Services coverage for VNS Therapy™ for the RECOVER patient population, while reducing investment in the difficult-to-treat depression program in 2025.\n\n\n\n\"In the second quarter, LivaNova achieved strong revenue and operating income growth,” said Vladimir Makatsaria, Chief Executive Officer of LivaNova. \"Capitalizing on this momentum to achieve sustainable above-market growth over the long-term remains a key priority. I want to recognize our teams around the world for their continued execution and unwavering commitment to serving patients and customers. I also want to thank the consortium of independent experts who conducted an in-depth review of the RECOVER unipolar study results and supported the development of the path forward for the difficult-to-treat depression program.\"\n\n\n\n\n____________________\n\n\n\n\n\n\n\n\n(1)\n\n\n\n\n\n\n\nConstant-currency percent change, total revenue excluding revenue from the ACS segment wind down, adjusted operating income, adjusted diluted earnings per share and adjusted free cash flow are non-GAAP measures. Constant-currency percent change excludes the impact from fluctuations in the various currencies in which the Company operates as ...