GOTHENBURG, SE — January 27, 2026 — Leads & Copy — XVIVO Perfusion AB reported its fourth-quarter and full-year 2025 financial results, showing mixed performance with growth in some areas offset by declines in others.
Net sales for the fourth quarter amounted to SEK 226.1 million, a slight decrease from SEK 227.6 million in the same period last year. However, the company reported organic growth of 10 percent in local currencies, and 12 percent excluding revenue from heart trials.
For the full year, net sales totaled SEK 812.2 million, down from SEK 822.4 million in 2024. Organic growth for the year was 4 percent in local currencies, and 8 percent excluding revenue from heart trials.
The Abdominal business area showed strong growth, with sales up 30 percent in local currencies for both the quarter and the full year. The Thoracic business area also saw growth in the fourth quarter, increasing by 9 percent, or 12 percent excluding revenue from trials. However, the Services business area experienced a decline of -21 percent in the fourth quarter due to reduced volume in organ recoveries, and -5 percent for the full year.
Gross margin for the fourth quarter was 73 percent, compared to 77 percent in the previous year. For the full year, gross margin was 74 percent, down from 75 percent in 2024.
Operating income (EBIT) for the fourth quarter amounted to SEK 36.8 million, an increase from SEK 15.5 million in the same period last year. However, for the full year, EBIT remained the same at SEK 88.4 million.
Operating income before depreciation and amortization (EBITDA) for the fourth quarter was SEK 56.1 million, up from SEK 51.9 million in the previous year, representing an EBITDA margin of 25 percent compared to 23 percent. For the full year, EBITDA was SEK 158.6 million, down from SEK 176.1 million, with an EBITDA margin of 20 percent compared to 21 percent in 2024.
Net profit for the fourth quarter was SEK 31.6 million, impacted by currency effects, compared to SEK 36.4 million in the previous year. For the full year, net profit was SEK 25.2 million, impacted by currency effects, a significant decrease from SEK 172.2 million in 2024.
Earnings per share for the fourth quarter amounted to SEK 1.01, compared to SEK 1.16 in the previous year. For the full year, earnings per share were SEK 0.80, down from SEK 5.47 in 2024.
Cash flow from operating activities increased in the fourth quarter to SEK 86.9 million from SEK 62.1 million. However, for the full year, cash flow from operating activities decreased to SEK 101.1 million from SEK 111.3 million.
Significant events during the quarter included a partnership agreement signed with Perfusion Solution Inc (PSI) to broaden service offering in the U. S.
Significant events during the reporting period included FDA approval of the IDE application for the DELIVER study using Liver Assist, FDA approval for continued use of XVIVO’s heart technology through the PRESERVE CAP study, presentation of 12-month follow-up results from heart trial NIHP2019, being honored with the 2025 SACC-USA Business Award, enrollment of the first patient in the US PRESERVE CAP study for XVIVO Heart Assist Transport, and a delay in CE approval for XVIVO’s perfusion solution for heart preservation.
CEO Christoffer Rosenblad commented that the company enters 2026 with a solid financial position, enabling them to continue investing in their customer offering and organization, particularly in the US, where they will continue to build an organization ready to deliver a full-scale product launch of XVIVO Heart Assist Transport and Kidney Assist Transport in 2027.
Source: XVIVO Perfusion AB
