Medical device company Artivion (NYSE:AORT) reported Q2 CY2026 results topping the market's revenue expectations , with sales up 11.3% year on year to $125.8 million. The company expects the full year's revenue to be around $488 million, close to analysts' estimates. Its non-GAAP profit of $0.13 per share was 34.5% above analysts' consensus estimates.
Is now the time to buy AORT? Find out in our full research report (it's free).
Revenue: $125.8 million vs analyst estimates of $120.5 million (11.3% year-on-year growth, 4.4% beat)
Adjusted EPS: $0.13 vs analyst estimates of $0.10 (34.5% beat)
Adjusted EBITDA: $26.38 million vs analyst estimates of $21.72 million (21% margin, 21.5% beat)
The company reconfirmed its revenue guidance for the full year of $488 million at the midpoint
EBITDA guidance for the full year is $95.5 million at the midpoint, above analyst estimates of $94.3 million
Operating Margin: -6.7%, down from 7.4% in the same quarter last year
Artivion's second quarter results were well received by the market, with performance driven by accelerating growth in its stent graft and On-X heart valve portfolios. Management credited strong On-X adoption, improved stent graft set sales, and a return to growth across international markets as key drivers behind the positive momentum. CEO Pat Mackin highlighted the recent FDA approval of the AMDS hybrid prosthesis and the acquisition of Endospan's NEXUS system as important milestones, noting, "We are encouraged by our enduring fundamental strength and increasingly strong competitive advantages within this segment."
Looking ahead, Artivion's outlook is shaped by anticipated expansion in its U.S. aortic product platforms and the ramp-up of recently acquired and approved devices. Management believes that the removal of regulatory hurdles for AMDS and the upcoming U.S. launch of NEXUS will accelerate adoption and drive growth. CFO Lance Berry emphasized the impact of new product launches, stating, "We expect sequential improvements through the back half of the year as our U.S. AMDS and U.S. On-X sales accelerate." Pipeline progress, particularly with the ARTISAN clinical trial, is also expected to support long-term market expansion.
Management attributed the quarter's performance to robust product adoption in core portfolios, successful execution of recent acquisitions, and progress in clinical trials that underpin future growth.
Stent graft acceleration: Stent graft revenues grew 12% year-over-year, with management highlighting both set sales and implant trends as indicators of strengthening customer adoption, particularly following the FDA approval of AMDS.
On-X valve share gains: The On-X mechanical heart valve portfolio delivered 18% growth, driven by new U.S. market segments as recent clinical data favoring mechanical over bioprosthetic valves in younger patients supported broader adoption and physician confidence.
NEXUS acquisition completed: The acquisition of Endospan and its NEXUS Aortic Arch Stent Graft System solidified Artivion's position as the only company with a complete aortic arch product lineup, with management stressing NEXUS's potential as a platform for multiple future regulatory submissions.
Tissue business supply constraints: While tissue processing revenue rose modestly, management reiterated that supply, not demand, remains the primary bottleneck for growth in this segment, pointing to strong clinical data as a foundation for future expansion once supply improves.