Artivion narrows 2026 revenue outlook to $484–492 million, with growth of 8% to 10%
Key Facts
Artivion narrowed its 2026 revenue outlook to $484–492 million, equivalent to growth of 8% to 10% on an adjusted, constant-currency basis compared with adjusted 2025 revenue. The company announced the update in its third-quarter results statement published on November 5. Its previous range was $480–496 million, with growth of 7% to 11% expected on the same basis. The lower end of the outlook therefore rose by $4 million, and the upper end fell by the same amount. The company said currency is expected to add about one percentage point to full-year revenue.
Third-quarter revenue was $123.8 million, compared with $113.4 million in the same period of 2025, an increase of 9% under GAAP and on a constant-currency basis. Revenue for the nine months ended September 30 was $365.884 million, versus $325.338 million a year earlier. Artivion said third-quarter growth was led by its On-X product, whose revenue rose 13% on a constant-currency basis compared with the third quarter of 2025. Aortic stent graft revenue also grew 12% on a constant-currency basis, marking a second consecutive quarter of gains. The company said this growth came despite a tougher year-over-year comparison for AMDS.
Net income did not keep pace with revenue growth: Artivion reported a GAAP net loss of $7.9 million, or $0.16 per diluted share, in the third quarter of 2026. In the year-earlier quarter, the company recorded net income of $6.5 million, or $0.13 per diluted share. The company also narrowed its 2026 adjusted EBITDA outlook to $93–98 million. The previous range was $92–99 million. The guidance includes about $8 million in expected expenses during the year related to the Endospan acquisition, which closed in May 2026.
On products, Artivion said the number of AMDS implants in the United States rose compared with the second quarter. The company attributed the development, in its assessment, to the impact of the recent PMA approval and efforts to boost adoption of the technology. It also said it ended the quarter with a strong supply position for On-X, following investments in its Austin manufacturing facility. That puts the two products on different operating tracks: expanding AMDS use in the United States and strengthening capacity to meet demand for On-X. These developments build on the revenue growth the company reported in the third quarter.
The NEXUS system is one of the pillars of Artivion's expansion in aortic disease treatment in the coming period. The company said preparations for the system's commercial launch in the United States in January 2027 are progressing well. The first surgeon training event is scheduled for December 2026, ahead of the anticipated launch. Artivion estimated the annual U.S. market opportunity for a comprehensive aortic arch disease treatment portfolio at about $330 million. It said it believes it is on track to become the only company offering a comprehensive portfolio in this field, a company estimate tied to the market size it identified.
The expansion follows the close of the Endospan acquisition in May 2026, with the company including deal-related expenses in its full-year financial outlook. Artivion said it will hold a call to discuss its results on November 5, 2026, at 4:30 p.m. Eastern Time, followed by a question-and-answer session. AORT shares closed at $25.33 in the November 5 session, according to EL7 data. These developments put the updated revenue guidance alongside quarterly results and commercial preparations for the NEXUS launch in early 2027. The announced launch date remains January 2027, preceded by the surgeon training event scheduled for December.