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XVIVO Perfusion
  • Contact us
  • Customer support
  • Home
  • Technology
    • Introduction to Ex Vivo Lung Perfusion
    • The Ex Vivo Lung Perfusion Process
    • Clinical
    • Protocols
    • Starting your clinical EVLP program
    • Articles about EVLP
    • EVLP with Manual method
    • EVLP with XPS™
    • Training and workshops
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  • Products
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    • XPS™
    • XPS Disposable Lung Kit™
    • Steen Solution™
    • PERFADEX® Plus
    • XVIVO
      Silicone Tubing Set™
    • XVIVO LS™ & XVIVO Disposable Lung Set™
    • XVIVO
      Organ Chamber™
    • XVIVO
      Lung Cannula Set™
  • Knowledge
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Good growth and new important XPS clinics

THIRD QUARTER 2019 (JULY – SEPTEMBER)

  • Net sales of non-durable goods in the quarter amounted to SEK 50.1 (40.3) million, corresponding to an increase of 25 percent in SEK and 18 percent in local currency. Total net sales (incl. durable goods) in the quarter amounted to SEK 54.3 (40.9) million, corresponding to an increase of 33 percent in SEK and 26 percent in local currency.
  • Sales from warm perfusion represented 42 percent (40) of sales of non-durable goods.
  • Operating income before depreciation and amortization (EBITDA) adjusted for costs for a share-based bonus program for employees outside Sweden amounted to SEK 6.8 million (6.0), corresponding to an EBITDA margin of 13 percent (15). Reported EBITDA amounted to SEK 9.0 (5.2) million, corresponding to an EBITDA margin of 17 percent (13).
  • Operating income adjusted for the share-based bonus program was SEK 0.0 million (1.6). Reported operating income amounted to SEK 2.3 (0.7) million, after amortization and depreciation of SEK 6.7 (4.5) million.
  • Net income amounted to SEK 4.9 (0.1) million, resulting in earnings per share of SEK 0.19 SEK (0.00).
  • Cash flow from operating activities during the quarter amounted to SEK 15.6 (3.7) million. Cash flow from investing activities amounted to SEK -18.0 (-11.3) million.
  • XPS™ sold to Chinas second largest clinic for lung transplantation. 
  • Lung Bioengineering has acquired the XPS™ for use in its new EVLP center in Jacksonville, Florida, USA. 
  • Perfadex® Plus received patent approval in Europe.
  • XVIVO and MyCartis engage to develop a fast diagnostic test to assess the quality of donated organs before transplantation.

THE PERIOD 2019 (JANUARY – SEPTEMBER)

  • Net sales of non-durable goods in the period amounted to SEK 147,5 (120,4) million, corresponding to an increase of 23 percent in SEK and 15 percent in local currency. Total net sales (incl. durable goods) in the period amounted to SEK 158.4 (129.5) million, corresponding to an increase of 22 percent in SEK and 14 percent in local currency. 
  • Sales from warm perfusion represented 43 percent (40) of sales of non-durable goods. 
  • Operating income before depreciation and amortization (EBITDA) adjusted for costs for a share-based bonus program for employees outside Sweden amounted to SEK 27.6 million (24.0), corresponding to an EBITDA margin of 17 percent (19). Reported EBITDA amounted to SEK 20.3 (20.4) million, corresponding to an EBITDA margin of 13 percent (16).  
  • Operating income adjusted for the share-based bonus program was SEK 9.6 million (11.5). Reported operating income amounted to SEK 2.3 (7.9) million, after amortization and depreciation of SEK 18.0 (12.6) million.  
  • Net income amounted to SEK 6.8 (7.8) million, resulting in earnings per share of SEK 0.26 (0.30).  
  • Cash flow from operating activities for the period amounted to SEK 36.7 (26.0) million. Cash flow from investing activities amounted to SEK -57.5 (-41.3) million.
  • XVIVO has received Premarket approval (PMA) from the FDA for STEEN Solution™ and XPS™. The PMA approval was the first of its kind in the world. 
  • At ISHLT (International Society for Heart and Lung Transplantation), the positive results from the first six heart transplant patients from the study at Lund University Hospital were presented. 
  • XVIVO’s patents for the heart preservation fluid was approved in the US and Europe. 
  • The Swedish MPA has given approval to begin clinical studies with the company's new products for heart preservation. 
  • SEK 27 million shares was issued because of warrants being exercised.
  • 4 XPS™ were delivered during the period. At the end of the period 50 hospitals had access to either XPS™ or LS™. During the period, Canada became a new country with XPS™. 

EVENTS AFTER THE PERIOD

  • XVIVO has decided to establish an australian wholly owned subsidiary during the fourth quarter. 
  • The company's warrant program (series 2019/2021) has been closed. All of the 351,000 warrants were subscribed. The warrants give the holder the right to subscribe for a new share in May 2021 at a price of SEK 278.91.

CONFERENCE CALL

CEO Magnus Nilsson will present the report in a conference call at 2 p.m. CET on Thursday, October 24, 2019. Telephone UK: +44 333 300 0804 or USA: +1 631 913 1422. PIN: 12283129# 

October 24, 2019
Gothenburg
XVIVO Perfusion AB (publ)
Magnus Nilsson, CEO
 

For further information please contact:

Christoffer Rosenblad, CFO, +46 735 192159, christoffer.rosenblad@xvivoperfusion.com
Magnus Nilsson, CEO, +46 31 788 2150, magnus.nilsson@xvivoperfusion.com

For further information on XVIVO Perfusion’s business, please refer to the company’s website, www.xvivoperfusion.com

This information is information that Xvivo Perfusion AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation.  The information was submitted for publication, through the agency of the contact person set out above, at 07:30 am CET on October 24, 2019.

This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.

About us

XVIVO Perfusion is a medical technology company focused on developing optimized solutions for organ, tissue and cell preservation in connection with transplantation.

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XVIVO Perfusion AB
Box 53015
SE-400 14 Göteborg
Sweden

Phone: +46 31 788 21 50
Fax: +46 31 788 21 69
info@xvivoperfusion.com

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