Edwards Lifesciences Q4 2024: Contradictions Unveiled in TAVR Growth, TMTT Dynamics, and EVOQUE Launch

These are the key contradictions discussed in Edwards Lifesciences' latest 2024 Q4 earnings call, specifically including: TAVR growth expectations, TMTT market dynamics, M3 Mitral opportunity, and EVOQUE launch and market dynamics:



Strong Financial Performance in 2024:
- Edwards Lifesciences reported revenue of $5.4 billion for the full year 2024, achieving a 9% growth, aligning with their original total company sales guidance.
- The growth was driven by overachievement in TMTT despite a slower-than-expected TAVR growth.

TMTT and Product Growth Drivers:
- Full year 2024 TMTT sales reached $352 million, increasing 77% year-over-year.
- This growth was fueled by the launch of EVOQUE and continued adoption of PASCAL in the U.S. and Europe.

TAVR and Market Dynamics:
- Global TAVR sales for the full year were $4.1 billion, showing a 6% increase year-over-year.
- Growth was supported by U.S. and European market launches of SAPIEN 3 Ultra RESILIA, despite slower growth in regions like Japan.

Operational Efficiency and Management Strategy:
- The company implemented strategic decisions to optimize operations, including the sale of Critical Care and acquisitions of JC Medical, Innovalve, and Endotronix.
- These moves were aimed at enhancing agility, innovation, and expanding therapeutic areas to address unmet patient needs.

Guidance for 2025 and Future Outlook:
- Edwards Lifesciences expects total company sales of $5.6 billion to $6 billion in 2025, with TAVR sales between $4.1 billion to $4.4 billion and TMTT sales between $500 million to $530 million.
- The guidance considers growth opportunities from early TAVR approval and expanded adoption of TMTT products, supported by a strong balance sheet and strategic investments.