Artivion Reports Q3 2026 Revenue Growth Driven by Stent Grafts and On-X Valves
Artivion (AORT) reported third-quarter 2026 revenue of $123.8 million, representing a 9% increase on a constant currency basis. This growth was primarily fueled by double-digit expansions in the stent graft segment ($44.3 million) and On-X heart valve sales ($30.3 million). Despite top-line growth, adjusted EBITDA fell to $22.5 million from $24.6 million in the prior year, with margins compressing due to acquisition costs related to Endospan and manufacturing ramp-up expenses. The company's financial position was impacted by a $13.3 million milestone payment for the AMDS PMA, resulting in negative free cash flow of $17.6 million. Looking ahead, Artivion provided full-year 2026 revenue guidance of $484 million to $492 million. Management noted potential headwinds for 2027 as certain transitional manufacturing agreements conclude, though they expect NEXUS revenue to help stabilize EBITDA performance during that period.
Topics: Adjusted EBITDA Gross Margin On-X Heart Valves Revenue Growth Stent Grafts