Segment Information

6 Months Ended

Jun. 30, 2022

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, surgical sealants, On-X, 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, AMDS, NEXUS, E-vita Thoracic 3G, and E-nya products. Abdominal stent grafts include our E-xtra Design Engineering, E-nside, E-tegra, E-ventus BX, and E-liac 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.

The primary measure of segment performance, as viewed by our management, is segment gross margin or net external revenues less cost of products and preservation services. 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 operating segments (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Revenues:
Medical devices	$	58,936	$	56,076	$	116,478	$	109,421
Preservation services	21,404		20,072		41,075		37,814
Total revenues	80,340		76,148		157,553		147,235
Cost of products and preservation services:
Medical devices	18,230		16,178		35,638		31,089
Preservation services	9,938		9,457		19,024		17,795
Total cost of products and preservation services	28,168		25,635		54,662		48,884
Gross margin:
Medical devices	40,706		39,898		80,840		78,332
Preservation services	11,466		10,615		22,051		20,019
Total gross margin	$	52,172	$	50,513	$	102,891	$	98,351

The following table summarizes net revenues by product and service (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Products:
Aortic stent grafts	$	23,833	$	21,064	$	49,339	$	41,269
Surgical sealants	15,967		17,864		31,648		35,692
On-X	16,255		14,726		30,626		27,821
Other	2,881		2,422		4,865		4,639
Total products	58,936		56,076		116,478		109,421
Preservation services	21,404		20,072		41,075		37,814
Total revenues	$	80,340	$	76,148	$	157,553	$	147,235