•Achieved revenue of $113.4 million in the third quarter of 2025 versus $95.8 million in the third quarter of 2024, an increase of 18% on a GAAP basis and 16% on a non-GAAP constant currency basis

•Net income was $6.5 million, or $0.13 per fully diluted share, and non-GAAP net income was $7.9 million, or $0.16 per fully diluted share in the third quarter of 2025

•Adjusted EBITDA increased 39% to $24.6 million in the third quarter of 2025 compared to $17.7 million in the third quarter of 2024

•Enrolled first patient in ARTIZEN U.S. Investigational Device Exemption trial for Arcevo

ATLANTA, GA – (November 6, 2025) – Artivion, Inc. (NYSE: AORT), a leading cardiac and vascular surgery company focused on aortic disease, today announced financial results for the third quarter ended September 30, 2025.

“Our third quarter performance was exceptionally strong as we made progress across each of our strategic initiatives while delivering 16% constant currency revenue growth. Revenue growth was driven by year-over-year growth in stent grafts of 38%, On-X of 25%, preservation services of 5%, BioGlue of 2%, all compared to the third quarter of 2024. On a constant currency basis, year-over-year stent grafts, On-X, preservation services, and BioGlue grew 31%, 23%, 5%, and 1%, respectively.” said Pat Mackin, Chairman, President, and Chief Executive Officer.

Mr. Mackin continued, “In addition to our strong commercial results, we saw continued progress with our market expanding clinical programs. We enrolled the first patient in our ARTIZEN trial for Arcevo, marking an important milestone. In addition, new favorable clinical data from our AMDS PERSEVERE and PROTECT trials were presented in two late-breaking science sessions at the European Association for Cardio-Thoracic Surgery, which further validated the positive clinical benefits of our AMDS technology.”

Mr. Mackin added, “We also took strategic steps to strengthen our balance sheet by refinancing our existing credit agreement to extend the maturity date to 2031, secure a more favorable interest rate, and gain access to a new $150 million delayed draw term loan facility.”

Mr. Mackin concluded, “Given our strong third quarter performance and continued business momentum, we are raising the midpoints of our full year 2025 constant currency revenue and EBITDA guidance and remain confident in our ability to grow adjusted EBITDA at twice the rate of constant currency revenue growth.”

Total revenues for the third quarter of 2025 were $113.4 million, an increase of 18% on a GAAP basis and 16% on a non-GAAP constant currency basis, both compared to the third quarter of 2024.

Net income for the third quarter of 2025 was $6.5 million, or $0.13 per fully diluted common share, compared to net loss of $(2.3) million, or $(0.05) per fully diluted common share for the third quarter of 2024. Non-GAAP net income for the third quarter of 2025 was $7.9 million, or $0.16 per fully diluted common share, compared to non-GAAP net income of $5.0 million, or $0.12 per fully diluted common share for the third quarter of 2024. Non-GAAP net income for the third quarter of 2025 includes pretax losses related to foreign currency revaluation of $0.1 million.

Artivion is raising the midpoint of its full year 2025 revenue guidance and now expects constant currency growth of 13% to 14%, compared to the previous range of 12% to 14%. The Company expects reported revenues to be in the range of $439 to $445 million compared to the previous range of $435 to $443 million. This guidance contemplates a slightly positive currency impact for full year 2025 compared to 2024.

Additionally, Artivion is raising the midpoint of its adjusted EBITDA guidance and now expects growth of between 24% and 28% for the full year 2025 compared to 21% to 28% previously provided. Growth rates are compared to 2024. The Company expects adjusted EBITDA to be in the range of $88 to $91 million, compared to the previously articulated range of $86 to $91 million.

The Company's financial performance for 2025 and future periods is subject to the risks identified below.

This press release contains non-GAAP financial measures, including non-GAAP revenue, non-GAAP net income, EBITDA, adjusted EBITDA, non-GAAP general, administrative, and marketing expenses, and free cash flows. Investors should consider this non-GAAP information in addition to, and not as a substitute for, financial measures prepared in accordance with US GAAP. In addition, this non-GAAP financial information may not be the same as similar measures presented by other companies. The Company’s non-GAAP revenues are adjusted for the impact of changes in currency exchange. The Company’s non-GAAP net income, EBITDA, adjusted EBITDA, general, administrative, and marketing, and free cash flows results primarily exclude (as applicable) depreciation and amortization expense, interest income and expense, non-cash compensation expense, loss or gain on foreign currency revaluation, income tax expense or benefit, business development, integration, and severance income or expense, losses on inducement/extinguishment of debt, non-cash interest expense, capital expenditures, and other non-recurring items.

The Company generally uses non-GAAP financial measures to facilitate management's review of the operational performance of the Company and as a basis for strategic planning. Company management believes that these non-GAAP presentations provide useful information to investors regarding unusual non-operating transactions, the operating expense structure of the Company's existing and acquired operations, without regard to its on-going efforts to acquire additional complementary products and businesses, and the transaction and integration expenses incurred in connection with recently acquired and divested product lines, and the operating expense structure excluding fluctuations resulting from foreign currency revaluation and non-cash compensation expense. The Company believes it is useful to exclude certain expenses and revenues because such amounts in any specific period may not directly correlate to the underlying performance of its business operations or can vary significantly between periods as a result of factors such as impact of recent acquisitions, non-cash expense related to amortization of previously acquired tangible and intangible assets, and any related adjustments to their carrying values. The Company has adjusted for the impact of changes in currency exchange from certain revenues to evaluate comparable product growth rates on a constant currency basis. The Company does, however, expect to incur similar types of expenses and currency exchange impacts in the future, and this non-GAAP financial information should not be viewed as a statement or indication that these types of expenses will not recur. Company management encourages investors to review the Company’s consolidated financial statements and publicly filed reports in their entirety, including the reconciliation of GAAP to non-GAAP financial measures.

The Company’s adjusted EBITDA expectations for fiscal 2025 exclude potential charges or gains that may be recorded during the fiscal year, relating to, among other things, non-cash compensation; business development, integration, and severance income or expense; losses on inducement/extinguishment of debt; and foreign currency revaluations. The Company does not attempt to provide reconciliations of forward-looking adjusted EBITDA to the comparable GAAP measure because the impact and timing of these potential charges or gains are inherently uncertain and difficult to predict and are unavailable without unreasonable efforts. In addition, the Company believes such reconciliations would imply a degree of precision and certainty that could be confusing to investors. Such items could have a material impact on GAAP measures of the Company’s financial performance.

The Company will hold a teleconference call and live webcast on November 6, 2025, at 4:30 p.m. ET to discuss the results, followed by a question-and-answer session. To participate in the conference call dial 201-689-8261 a few minutes prior to 4:30 p.m. ET. The teleconference replay will be available approximately one hour following the completion of the event and can be accessed by calling (toll free) 877-660-6853 or 201-612-7415. The conference number for the replay is 13755945.

The live webcast and replay can be accessed by going to the Investors section of the Artivion website at www.Artivion.com and selecting the heading Webcasts & Presentations.

Headquartered in suburban Atlanta, Georgia, Artivion, Inc., is a medical device company focused on developing simple, elegant solutions that address cardiac and vascular surgeons’ most difficult challenges in treating patients with aortic diseases. Artivion’s four major groups of products include: aortic stent grafts, surgical sealants, On-X mechanical heart valves, and implantable cardiac and vascular human tissues. Artivion markets and sells products in more than 100 countries worldwide. For additional information about Artivion, visit our website, www.Artivion.com.

Statements made in this press release that look forward in time or that express management's beliefs, expectations, or hopes are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the views of management at the time such statements are made. These statements include, but are not limited to, our beliefs and expectations about our revenue, year-over-year growth and growth drivers, earnings, currency impacts, and other financial measures and related information; our anticipated capital needs and capital structure; our beliefs about our competitive advantages and market opportunities; the expected impact on our business of the dynamic trade policy and tariff environment; our expected product mix and business strategy; anticipated quarterly fluctuations in our business; the benefits of receiving IDE approval to initiate our Arcevo LSA pivotal trial; the expected clinical benefits of our AMDS technology as a result of data from our AMDS PERSEVERE and PROTECT trials; our ability to scale our business and expand adjusted EBITDA margins; that our revenues for the full year 2025 will be in the range of $439 to $445 million, representing revenue growth of between 13% to 14% compared to 2024 on a constant currency basis; that we expect non-GAAP adjusted EBITDA to increase between 24% and 28% for the full year 2025 compared to 2024, resulting in non-GAAP adjusted EBITDA in the range of $88 to $91 million in 2025; and our belief that we will be able to grow adjusted EBITDA at twice the rate of constant currency revenue growth. These forward-looking statements are subject to a number of risks, uncertainties, estimates and assumptions that may cause actual results to differ materially from current expectations, including, but not limited to, the unpredictability of the timing and outcome of regulatory decisions and other regulatory developments; risks relating to our international operations; the benefits anticipated from our 2024 credit facility and the 2025 amendments thereof, the Ascyrus Medical LLC transaction and Endospan agreements, and our operational improvements in our tissue and stent graft business may not be achieved at all or at the levels we anticipate or had originally anticipated; the benefits anticipated from our clinical trials and regulatory approvals may not be achieved or achieved on our anticipated timelines; the uncertainty regarding potential unknown or future impacts of the November 2024 cybersecurity incident, including the extent to which we are able to recover against our insurance policies; and the benefits anticipated from our expansion into APAC and LATAM may not be achieved or achieved on our anticipated timelines. These risks and uncertainties include the risk factors detailed in our Securities and Exchange Commission filings, including our Form 10-K for the year ended December 31, 2025, and our Form 10-Q for the quarter ended September 30, 2025. Artivion does not undertake to update its forward-looking statements, whether as a result of new information, future events, or otherwise.

			Three Months Ended September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
Reconciliation of net income (loss), GAAP and EBITDA, non-GAAP to adjusted EBITDA, non-GAAP:
Net income (loss), GAAP			$	6,502					$	(2,288)					$	7,342					$	3,124
Adjustments:
Interest expense			6,119						8,405						21,052						24,535
Interest income			(240)						(366)						(452)						(1,093)
Income tax expense			554						1,022						901						5,964
Depreciation and amortization expense			5,717						6,110						16,701						17,910
EBITDA, non-GAAP			18,652						12,883						45,544						50,440
Non-cash compensation			6,135						3,769						20,302						11,499
Business development, integration, and severance expense (income)			2,479						3,431						1,990						(11,923)
Cybersecurity incident			728						—						7,157						—
Losses on inducement/extinguishment of debt			—						—						2,664						3,669
Loss (gain) on foreign currency revaluation			73						(2,382)						(7,278)						(29)
Gain from sale of non-financial assets			(3,500)						—						(3,500)						—
Adjusted EBITDA, non-GAAP			$	24,567					$	17,701					$	66,879					$	53,656