Slide 1: 2Q 2025 Earnings Presentation
2Q 2025 Earnings Presentation August 7, 2025 1 © 2025 Artivion, Inc.
Slide 2: Forward-Looking Statement
FORWARD-LOOKING STATEMENT 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 reflect
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 Q2 2025 Financial Highlights 6 Product Revenue Growth 7 Geographic Revenue Growth 8 On-X vs Bioprosthetic Valve Data 9 AMDS PERSEVERE US IDE Study 10 ARTIZEN Pivotal IDE Study 11 Full Year 2025 Financial Guidance 12-13 Appendix 14-19 4 © 2025 Artivion, Inc.
Slide 5: Key Messages
Key Messages Strong Organic Growth; Multipronged Pipeline on Track; Balance Sheet Strengthened Positive momentum in initial U.S. AMDS launch following receipt of Humanitarian Device Exemption in late 2024 Extremely encouraging reception with more hospitals progressing through IRB and value $113.0M a
Slide 6: Q2 2025 Financial Highlights
Q2 2025 FINANCIAL HIGHLIGHTS (in millions except EPS) GAAP Non-GAAP Q2 2025 Q2 2024 % Y/Y Δ Q2 2025 Q2 2024 % Y/Y Δ Revenue $113.0M $98.0M 15.3% Revenue $113.0M $98.7M 14.5% Gross Gross 64.7% 64.6% 0.2% 65.1% 64.6% 0.8% Margin Margin Diluted EPS $0.03 ($0.05) -- Diluted EPS $0.24 $0.07 -- Net income
Slide 7: Year-Over-Year Revenue Growth by Product Portfolio
Q2 2025 Year-Over-Year Revenue Growth Product Portfolio Preservation Surgical Aortic Stent On-X Services Sealant Grafts GAAP Growth 3% 4% 24% 24% Constant Currency Growth 3% 4% 24% 22% 7 © 2025 Artivion, Inc.
Slide 8: Year-Over-Year Revenue Growth Across Geographies
Q2 2025 Year-Over-Year Revenue Growth Across Geographies North Latin America America EMEA APAC GAAP Growth 18% 0% 13% 15% Constant Currency 18% 7% 10% 15% Growth 8 © 2025 Artivion, Inc.
Slide 9: On-X Uniquely Positioned for Younger AVR Patients
ON-X IS UNIQUELY POSITIONED FOR YOUNGER AVR PATIENTS, BACKED BY A GROWING BODY OF 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 favor
Slide 10: 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 11: ARTIZEN Pivotal IDE Study
ARTIZEN PIVOTAL IDE STUDY Prospective, Non-randomized, Non-blinded, Double-arm, Multicenter (US & EU ≈ 30 Sites) PRIMARY PATIENT GROUP 117 patients: Chronic dissection or Aneurysm Primary endpoint: Freedom from major adverse events (MAEs) within 1-year post-index procedure: all-cause mortality, new
Slide 12: 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- $435M- + Launch of AMDS following receipt of Revenue ($) $388.5M $435M $435M $443M Humanitarian Dev
Slide 13: 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 Revenue growth and adjusted EBITDA margin expansion drives incremental cash flow
Slide 14: Appendix
Appendix 14 © 2025 Artivion, Inc.
Slide 15: GAAP to Non-GAAP Financial Reconciliation
Q2 2025 GAAP to Non-GAAP Financial Reconciliation Revenue Revenues for the Percent Three Months Ended Change June 30, From Prior 2025 2024 Year Exchange Constant Constant US GAAP US GAAP Rate Effect Currency Currency Products: Aortic stent grafts $ 39,841 $ 32,190 $ 584 $ 32,774 22% On-X 25,572 20,6
Slide 16: GAAP to Non-GAAP Financial Reconciliations
Q2 2025 GAAP to Non-GAAP Financial Reconciliations Reconciliation of diluted income (loss) per common share, GAAP to adjusted diluted income per common share, non GAAP Three Months Ended June 30, 2025 2024 Reconciliation of diluted income (loss) per common share, GAAP to adjusted diluted income per
Slide 17: GAAP to Non-GAAP Financial Reconciliations
Q2 2025 GAAP to Non-GAAP Financial Reconciliations Reconciliation of net income (loss), GAAP and EBITDA, non-GAAP to adjusted EBITDA, non-GAAP Three Months Ended June 30, 2025 2024 Reconciliation of net income (loss), GAAP and EBITDA, non-GAAP to adjusted EBITDA, non-GAAP: Net income (loss), GAAP $
Slide 18: GAAP to Non-GAAP Financial Reconciliations
Q2 2025 GAAP to Non-GAAP Financial Reconciliations Reconciliation of cash flows from operating activities, GAAP to free cash flows, non-GAAP Three Months Ended June 30, 2025 2024 Reconciliation of cash flows from operating activities, GAAP to free cash flows, non- GAAP: Net cash flows provided by op
Slide 19: Thank You
Thank You