ARTIVION, INC. recently released its 10-Q report. Artivion manufactures, processes and distributes medical devices and implantable human tissues used in cardiac and vascular surgery, with a product mix centered on aortic stent grafts, On-X mechanical heart valves and related products, surgical sealants and preserved human tissues. The company sells primarily through a direct sales force to hospitals and other healthcare facilities, and it is headquartered in Kennesaw, Georgia.
In Item 2, Management’s Discussion and Analysis, Artivion said quarterly revenue rose to $125.8 million in the three months ended June 30, 2026, up 11% from $113.0 million a year earlier. For the first six months of 2026, revenue increased 14% to $242.1 million from $212.0 million.
Product revenue climbed to $99.9 million in the quarter from $87.4 million, while preservation services edged up to $25.9 million from $25.5 million. For the six-month period, product revenue increased to $191.3 million from $166.2 million, and preservation services rose to $50.7 million from $45.7 million.
Aortic stent graft revenue was the largest growth driver, increasing 16% in the quarter to $46.4 million and 19% in the first half to $90.8 million. Artivion said the quarterly increase reflected higher unit volume and, to a lesser extent, foreign exchange, while the six-month increase was driven by higher volume and stronger sales in Europe, the Middle East and Africa and North America.
On-X product revenue increased 19% in the quarter to $30.5 million and 20% in the first half to $56.5 million. The company said the gains came from higher average selling prices and higher unit volume in the quarter, and from both higher volume and pricing over six months.
Surgical sealant revenue was flat in the quarter at $19.3 million and rose 2% in the first half to $38.1 million. In constant currency, sealant revenue declined 2% in the quarter and 1% in the six-month period, with management pointing to lower milliliter volume and mixed regional buying patterns.
Other revenue, which includes PhotoFix and PerClot, increased 35% in the quarter to $3.7 million and 14% in the first half to $6.0 million, mainly because of higher PerClot unit sales.
By geography, North America revenue was $62.3 million in the quarter and $121.0 million in the first half, while Europe, the Middle East and Africa contributed $44.5 million and $88.5 million, respectively. Artivion also said the U.S. market for AMDS improved after the FDA granted a humanitarian device exemption in December 2024, followed by full U.S. commercial distribution approval in June 2026. Today the company's shares have moved 3.54% to a price of $27.51. Check out the company's full 10-Q submission here.
