Xvivo Perfusion AB (publ) (XVIVO) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and good afternoon and welcome to Xvivo's earning call for the first quarter of 2025. As stated earlier, the presenters today are me, Kristoffer Rosemblad, CEO for Xvivo and Kristoffer Nordström, CFO. And with that, we can go over to the second slide, the Q1 financial at a glance. And I'm proud and happy to report that Q1 shows improvement on top line, as well as EBITDA compared to the same quarter last year. Q1 shows again that Exviva has a scalable business model with improving margins with scale, even though we have continued to invest heavily into the organization for future growth. The quota was very strong from a North American regulatory perspective with many milestones passed. For example, the liver ID was approved and we can now start our trial in the United States. The heart cap was approved and the heart trial clinics now have access to the life-changing heart technology in the US for a limited amount of patients. And lastly, Health Canada approved our liver and kidney technology, which opened up that market for our abdominal portfolio. If you look at the slide, sales came in at 219 million SEK. The gross margin continue to show strength and we have a scalable production setup. We plan to improve the abdominal gross margin to 70% at the latest in 2027 or earlier when we reach economies of scale in production. The EBITDA shows an improvement to 21%, and Christopher Nordstrom, our CFO, will later get into the details on sales, gross margin and EBITDA. The growth showed a mixed picture during the quarter. In Thorax, we see the highest ever interest to start an EBLP program, but sales growth came in lower than we expected. Of course, the lack of hard sales, both in the US trial and from the European, hampered the growth. The good heart news is tha...