XVIVO: Stepping up the pace during 2024 - Redeye

XVIVO delivers a soft 12% organic growth in the last quarter of 2023 (based on CER excluding acquisition support). The main positive is the gross margins in a quarter with slower organic growth combined with investments in the commercial team. The adjusted EBITDA is also on the soft side. The main sales deviation is a quarter with softer Thoracic support (11% organic growth in Q4). We can expect XVIVO to increase the supply capacity and the commercial US team during 2024. As a result we XVIVO to gain momentum as 2024 proceeds. We expect a negative share price reaction compared with the regional equity market of some 3-5% as a result and we look forward to more details from the call later today and more details from XVIVO regarding the outlook.

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