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Segment Information
6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
We have two reportable segments organized according to our products and services: Medical Devices and Preservation Services. The Medical Devices segment includes external revenues from product sales of aortic stent grafts, On-X®, surgical sealants, and other product revenues. Aortic stent grafts include aortic arch stent grafts, abdominal stent grafts, and synthetic vascular grafts. Aortic arch stent grafts include our E-vita® Open NEO, E-vita Open Plus, AMDSTM, the NEXUS ONETM, NEXUS DUOTM, and NEXUS TRETM aortic arch stent graft systems (the “NEXUS family of products”), and E-vita Thoracic 3G. Abdominal stent grafts include our E-xtra Design Engineering, E-nsideTM, ArtivexTM, E-tegraTM, E-ventusTM BX, TuvaTM BX, and E-liacTM products. Surgical sealants include BioGlue® Surgical Adhesive products. The Preservation Services segment includes external services revenues from the preservation of cardiac and vascular tissues. There are no intersegment revenues.
Our Chief Operating Decision Maker (“CODM”) is the Company’s Chairman, President, and CEO. The CODM reviews financial information to assess segment performance and determine how to allocate resources across segments.
The primary measure of segment performance, as assessed by our management, is segment gross margin or net external revenues less cost of products and preservation services. The CODM regularly reviews these costs, recognizing them as significant segment expenses. We do not segregate assets by segment; therefore, asset information is excluded from the segment disclosures below.
The following table summarizes revenues, cost of products and preservation services, and gross margins for our reportable segments (in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2025202420252024
Revenues:
Medical devices$87,444 $73,210 $166,242 $144,324 
Preservation services25,528 24,809 45,708 51,126 
Total revenues112,972 98,019 211,950 195,450 
Cost of products and preservation services:
Medical devices28,315 24,545 53,578 48,295 
Preservation services11,545 10,150 21,683 20,885 
Total cost of products and preservation services39,860 34,695 75,261 69,180 
Gross margin:
Medical devices59,129 48,665 112,664 96,029 
Preservation services13,983 14,659 24,025 30,241 
Total gross margin$73,112 $63,324 $136,689 $126,270 
Net revenues by product were as follows (in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2025202420252024
Products:
Aortic stent grafts$39,841$32,190$76,443$64,293
On-X25,57220,64547,14640,326
Surgical sealants19,28818,54537,39435,526
Other2,7431,8305,2594,179
Total products87,44473,210166,242144,324
Preservation services 25,52824,80945,70851,126
Total revenues$112,972$98,019$211,950$195,450