Segment Information

3 Months Ended

Mar. 31, 2026

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, Arcevo LSA, 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 March 31,
	2026		2025
Revenues:
Medical devices	$	91,442	$	78,798
Preservation services	24,895		20,180
Total revenues	116,337		98,978
Cost of products and preservation services:
Medical devices	29,697		25,263
Preservation services	11,192		10,138
Total cost of products and preservation services	40,889		35,401
Gross margin:
Medical devices	61,745		53,535
Preservation services	13,703		10,042
Total gross margin	$	75,448	$	63,577

Net revenues by product were as follows (in thousands):

	Three Months Ended March 31,
	2026		2025
Products:
Aortic stent grafts	$	44,397	$	36,602
On-X	25,951		21,574
Surgical sealants	18,805		18,106
Other	2,289		2,516
Total products	91,442		78,798
Preservation services	24,895		20,180
Total revenues	$	116,337	$	98,978