GOTHENBURG, SE / ACCESS Newswire / July 11, 2025 / XVIVO Perfusion AB (STO:XVIVO)(LSE:0RKL)(FRA:3XV)
A quarter showing a mixed picture
Second quarter 2025 (Apr-Jun)
• Net sales amounted to SEK 178.3 million (210.3), corresponding to negative growth of -15 percent in SEK and -9 percent in local currencies. Organic growth amounted to -11 percent in local currencies.
• The business area Abdominal delivered sales growth of 19 percent in local currencies. Thoracic and Services returned negative growth: Thoracic -19 percent and Services -1 percent.
• Total gross margin was 74 percent (75). The gross margin for the business areas amounted to: Thoracic 86 percent (85), Abdominal 68 percent (63) and Services 34 percent (40).
• Operating income (EBIT) amounted to SEK 7.1 million (33.4). Adjusted EBIT amounted to SEK 6.8 million (33.4).
• Operating income before depreciation and amortization (EBITDA) amounted to SEK 23.6 million (51.1), corresponding to an EBITDA margin of 13 percent (24). Adjusted EBITDA totaled SEK 23.3 million (51.1), corresponding to an adjusted EBITDA margin of 13 percent (24).
• Net profit amounted to SEK 1.6 million (27.2), impacted by currency effects in cash and cash equivalents of SEK -10.9 million (-3.2). Earnings per share amounted to SEK 0.05 (0.86).
• Cash flow from operating activities was SEK 8.8 million (24.7). Total cash flow amounted to SEK 18.0 million (-27.2) and was, in addition to operating cash flow, impacted by investments in R&D projects of SEK -36.3 million and the use of a credit facility of SEK 84.6 million to finance increased working capital.
Significant events in the quarter
• XVIVO presents convincing 12-month follow-up results from the heart trial, NIHP2019
• XVIVO wins the SACC-USA Business Award 2025
The period 2025 (Jan-Jun)
• Net sales increased to SEK 396.9 million (396.4), corresponding to growth of 0 percent in SEK and 3 percent in local currencies. Organic growth amounted to 1 percent in local currencies.
• The business area Abdominal delivered sales growth of 23 percent in local currencies. Thoracic and Services returned negative growth: Thoracic -3 percent and Services -3 percent.
• Total gross margin was 74 percent (74). The gross margin for the business areas amounted to: Thoracic 84 percent (83), Abdominal 65 percent (65) and Services 36 percent (38).
• Operating income (EBIT) amounted to SEK 33.6 million (52.4). Adjusted EBIT amounted to SEK 36.5 million (53.4).
• Operating income before depreciation and amortization (EBITDA) amounted to SEK 66.6 million (87.1), corresponding to an EBITDA margin of 17 percent (22). Adjusted EBITDA totaled SEK 69.5 million (88.1), corresponding to an adjusted EBITDA margin of 18 percent (22).
• Net profit amounted to SEK -10.8 million (50.0), impacted by currency effects in cash and cash equivalents of SEK -33.3 million (5.2). Earnings per share amounted to SEK -0.34 (1.59).
• Cash flow from operating activities was SEK -6.5 million (26.3). The period was affected by investments in increased working capital from strategic inventory build-up. Total cash flow amounted to SEK -59.2 million (-70.5), primarily impacted by investments in R&D projects of SEK -75.1 million and utilized credit facility of SEK 84.6 million.
Significant events in the reporting period
• Rapid FDA approval of the IDE application for the DELIVER study using Liver Assist
• FDA approval for continued use of XVIVO's heart technology through the PRESERVE CAP study
CEO comment
"Organic growth in Q2 was negative, - 11 percent in local currency - primarily a result of a temporary slowdown in EVLP activity and tough comparable sales numbers in heart from last year's heart trial in the US. Despite this, XVIVO has continued to strengthen our market leading position within lung globally and within liver in Europe with new customers onboarded and with further confidence in our technologies demonstrated at several important conferences.
On a positive note, we continue to see strong sales growth in lung among US customers, besides our largest customer, with a 26 percent increase in the second quarter, driven by our investments in sales and clinical field force. In the second quarter we also acquired two new XPS accounts in the US, further strengthening our role as the clear market leader. Further positives are that kidney sales grew 47 percent in the US and liver in Europe continued to develop nicely with a growth of 32 percent.
We see continued strong interest in investing in new EVLP and liver perfusion programs and this together with the high confidence in the XVIVO Heart Assist Transport makes us optimistic about the future."
-Christoffer Rosenblad, CEO
For further information, please contact:
Christoffer Rosenblad, CEO, +46 73 519 21 59, e-mail: christoffer.rosenblad@xvivogroup.com
Kristoffer Nordström, CFO, +46 73 519 21 64, e-mail: kristoffer.nordstrom@xvivogroup.com
Conference Call
Christoffer Rosenblad, CEO and Kristoffer Nordström, CFO, will present the report in a conference call today at 2.00 PM CET / 8.00 AM EST. For registration to the conference call, see information in previous press release: https://investor.xvivogroup.com/press-release?slug=conference-call-on-interim-report-april-june-2025
About Us
Founded in 1998, XVIVO is the only medical technology company dedicated to extending the life of all major organs - so transplant teams around the world can save more lives. Our solutions allow leading clinicians and researchers to push the boundaries of transplantation medicine. XVIVO is headquartered in Gothenburg, Sweden, and has offices and research sites on two continents. The company is listed on Nasdaq Stockholm under the ticker symbol XVIVO. More information can be found on the website www.xvivogroup.com.
This information is information that XVIVO Perfusion AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-07-11 07:30 CEST.
Attachments
XVIVO Interim Report Q2 2025
SOURCE: XVIVO Perfusion AB
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/healthcare-and-pharmaceutical/interim-report-january-june-2025-1047849
