Artivion's Q4 2024: Key Contradictions in AMDS Launch, SynerGraft Growth, and Tissue Supply

These are the key contradictions discussed in Artivion's latest 2024Q4 earnings call, specifically including: AMDS commercial progress and market penetration, SynerGraft growth expectations, and tissue supply growth:



Revenue and EBITDA Growth:
- Artivion reported total revenues of $97.3 million for Q4 2024, up 3% compared to Q4 of 2023, with adjusted EBITDA increasing approximately 15%.
- The growth was supported by continued expansion across product portfolios, regulatory approvals, and international market expansion.

Cybersecurity Incident Impact:
- The company estimated the November 2024 cyber incident had a negative impact of approximately $4.5 million on Q4 revenue, with a 2% EBITDA impact.
- This event led to disruptions in tissue and stent graft shipments, impacting revenue growth for the quarter.

On-X and Stent Graft Performance:
- On-X revenues increased 10% on a constant currency basis, with stent graft revenues growing 8% in Q4.
- This growth was driven by market share gains and regulatory approvals, enhancing market presence in key international markets.

AMDS Humanitarian Device Exemption (HDE) Approval:
- The HDE for AMDS was granted, enabling commercial distribution in the U.S. prior to PMA approval.
- This approval is expected to generate revenue in 2025, although the company anticipates minimal impact on adjusted EBITDA in the first year.