XML 29 R19.htm IDEA: XBRL DOCUMENT v3.25.3
Segment Information
 9 Months Ended
Sep. 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
September 30,		Nine Months Ended
September 30,
2025202420252024
Revenues:
Medical devices$87,665 $71,244 $253,907 $215,568 
Preservation services25,723 24,535 71,431 75,661 
Total revenues113,388 95,779 325,338 291,229 
Cost of products and preservation services:
Medical devices27,811 24,412 81,389 72,707 
Preservation services11,182 10,358 32,865 31,243 
Total cost of products and preservation services38,993 34,770 114,254 103,950 
Gross margin:
Medical devices59,854 46,832 172,518 142,861 
Preservation services14,541 14,177 38,566 44,418 
Total gross margin$74,395 $61,009 $211,084 $187,279 
Net revenues by product were as follows (in thousands):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Products:
Aortic stent grafts$39,585$28,643$116,028$92,936
On-X26,79721,47873,94361,804
Surgical sealants18,89318,43756,28753,963
Other2,3902,6867,6496,865
Total products87,66571,244253,907215,568
Preservation services 25,72324,53571,43175,661
Total revenues$113,388$95,779$325,338$291,229