Slide 1: 1Q 2025 Earnings Presentation
1Q 2025 Earnings Presentation May 5, 2025 1 © 2025 Artivion, Inc.
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS Statements made in this presentation that look forward in time or that express management’s beliefs, expectations, or forecasts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflec
Slide 3: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES To supplement financial measures prepared in accordance with generally accepted accounting principles in the United States ("GAAP"), we use non- GAAP financial measures, including non-GAAP revenue, constant currency revenue growth rates, non-GAAP net income and diluted EP
Slide 4: Table of Contents
TABLE OF CONTENTS Key Messages 5 Q1 2025 Financial Highlights 6 Product Revenue Growth 7 Geographic Revenue Growth 8 NEXUS TRIOMPHE US IDE Trial 9-10 AMDS PERSEVERE US IDE Study 11 On-X vs Bioprosthetic Valve Data 12 Full Year 2025 Financial Guidance 13-14 Appendix 15-20 4 © 2025 Artivion, Inc.
Slide 5: Key Messages
Key Messages Strong performance in Product revenues, clearance of cyber-related backlog ahead of expectations On-X supply & Tissue Processing backlog clearances ahead of expectations following November 2024 cyber incident Q1 impacted to lesser degree than originally anticipated $99.0M On-X supply fu
Slide 6: Q1 2025 Financial Highlights
Q1 2025 FINANCIAL HIGHLIGHTS (in millions except EPS) GAAP Non-GAAP Q1 2025 Q1 2024 % Y/Y Δ Q1 2025 Q1 2024 % Y/Y Δ Revenue $99.0M $97.4M 1.6% Revenue $99.0M $95.5M 3.7% Gross Gross 64.2% 64.6% (0.6%) 64.5% 64.6% (0.2%) Margin Margin Diluted EPS ($0.01) $0.18 -- Diluted EPS $0.06 $0.06 -- Net (loss)
Slide 7: Year-Over-Year Revenue Growth: Product Portfolio
Q1 2025 Year-Over-Year Revenue Growth Product Portfolio Preservation Surgical Aortic Stent On-X Services Sealant Grafts GAAP Growth (23%) 7% 10% 14% Constant Currency Growth (23%) 9% 11% 19% 7 © 2025 Artivion, Inc.
Slide 8: Year-Over-Year Revenue Growth Across Geographies
Q1 2025 Year-Over-Year Revenue Growth Across Geographies North Latin America America EMEA APAC GAAP Growth (6%) 12% 10% 8% Constant Currency (6%) 26% 14% 8% Growth 8 © 2025 Artivion, Inc.
Slide 9: Endospan NEXUS TRIOMPHE US IDE Trial
Endospan NEXUS ® TRIOMPHE US IDE Trial 30-day data demonstrate 63% reduction in major adverse event (MAE) Presented at rate compared to the reference performance goal AATS 2025 30-DAY DATA 1 TRIOMPHE Performance p Value (n=54) Goal MAEs2 >=1 13.0% 35.0% p<0.001 Technical Failure 1.9% 30.0% p<0.001 K
Slide 10: NEXUS TRIOMPHE US IDE Trial Primary Endpoints
NEXUS ® TRIOMPHE US IDE Trial Primary Endpoints 30-day primary endpoints 40% Individual MAE Rates Composite Rates 35% TRIOMPHE n=54 (Actual) PG Average 30% TRIOMPHE Protocol Hypothesis: 25% Device Technical Failure: H0: Pt ≥ 0.30 vs. H1: Pt < 0.30 20% Expected Expected Results: 1.9% (1/54), p-value
Slide 11: AMDS PERSEVERE US IDE Study Primary Endpoints
AMDSTM PERSEVERE US IDE Study Primary Endpoints Full IDE data demonstrates AMDS use significantly lowers 30-day Major Adverse Events (MAEs) compared to hemiarch control group ACUTE DEBAKEY TYPE I (ADTI) Through Hospital WITH MALPERFUSION Full 30-Day Discharge Data Data Hemiarch Reference Cohort Avg.
Slide 12: On-X Is Uniquely Positioned for the Younger AVR Patient
ON-X IS UNIQUELY POSITIONED FOR THE YOUNGER AVR PATIENT, BACKED BY CONTEMPORARY CLINICAL EVIDENCE TAVR was associated with a 2.3-fold increased hazard (+130%) of 6-year mortality when SAVR > TAVR compared to SAVR in patients <65.1 in patients younger than 65 years 10-year all-cause mortality favors
Slide 13: Full Year 2025 Revenue Guidance
FULL YEAR 2025 REVENUE GUIDANCE GROWTH DRIVERS + Continued strength in existing products On-X and aortic stents + Positive new data supporting the benefits of AMDS and On-X aortic valves $420M- $423M- Revenue ($) $388.5M $435M $435M + Launch of AMDS following receipt of Humanitarian Device Exemption
Slide 14: Revenue Growth and Operating Leverage to Drive Adjusted EBITDA Expansion
REVENUE GROWTH AND OPERATING LEVERAGE TO DRIVE ADJUSTED EBITDA EXPANSION FULL YEAR 2025 ADJUSTED EBITDA EXPECTATIONS DRIVERS Expect continued operating leverage to be driven by global sales force and G&A infrastructure $90.0M Revenue growth and adjusted EBITDA margin expansion drives incremental cas
Slide 15: Appendix
Appendix 15 © 2025 Artivion, Inc.
Slide 16: Q1 2025 GAAP to Non-GAAP Financial Reconciliation
Q1 2025 GAAP to Non-GAAP Financial Reconciliation Revenue Revenues for the Percent Three Months Ended Change March 31, From Prior 2025 2024 Year Exchange Constant Constant US GAAP US GAAP Rate Effect Currency Currency Products: Aortic stent grafts $ 36,602 $ 32,103 $ (1,308) $ 30,795 19% On-X 21,574
Slide 17: GAAP to Non-GAAP Financial Reconciliations
Q1 2025 GAAP to Non-GAAP Financial Reconciliations Reconciliation of diluted loss per common share, GAAP to adjusted diluted income per common share, non GAAP Three Months Ended March 31, 2025 2024 Reconciliation of diluted (loss) income per common share, GAAP to adjusted diluted income per common s
Slide 18: GAAP to Non-GAAP Financial Reconciliations
Q1 2025 GAAP to Non-GAAP Financial Reconciliations Reconciliation of net loss, GAAP and EBITDA, non-GAAP to adjusted EBITDA, non-GAAP Three Months Ended March 31, 2025 2024 Reconciliation of net (loss) income, GAAP and EBITDA, non-GAAP to adjusted EBITDA, non-GAAP: Net (loss) income, GAAP $ (505) $
Slide 19: GAAP to Non-GAAP Financial Reconciliations
Q1 2025 GAAP to Non-GAAP Financial Reconciliations Reconciliation of cash flows from operating activities, GAAP to free cash flows, non-GAAP Three Months Ended March 31, 2025 2024 Reconciliation of cash flows from operating activities, GAAP to free cash flows, non-GAAP: Net cash flows provided by op
Slide 20: Thank You
Thank You