Segment Information

9 Months Ended

Sep. 30, 2021

Segment Information [Abstract]

Segment Information

16. 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 stents and stent grafts, surgical sealants, On-X, and other product revenues. Aortic stents and stent grafts include JOTEC, AMDS, and NEXUS product revenues. Surgical sealants include BioGlue Surgical Adhesive product revenues. 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.

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The following table summarizes revenues, cost of products and preservation services, and gross margins for our operating segments (in thousands): 

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
Revenues:
Medical devices	$	53,107	$	45,109	$	162,528	$	128,797
Preservation services		19,100		20,022		56,914		56,534
Total revenues		72,207		65,131		219,442		185,331
Cost of products and preservation services:
Medical devices		15,503		12,998		46,592		36,078
Preservation services		8,915		9,001		26,710		26,060
Total cost of products and preservation services		24,418		21,999		73,302		62,138
Gross margin:
Medical devices		37,604		32,111		115,936		92,719
Preservation services		10,185		11,021		30,204		30,474
Total gross margin	$	47,789	$	43,132	$	146,140	$	123,193

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

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
Products:
Aortic stents and stent grafts	$	20,896	$	15,290	$	62,165	$	43,932
Surgical sealants		16,544		15,811		52,236		44,985
On-X		14,022		12,067		41,843		34,385
Other		1,645		1,941		6,284		5,495
Total products		53,107		45,109		162,528		128,797
Preservation services		19,100		20,022		56,914		56,534
Total revenues	$	72,207	$	65,131	$	219,442	$	185,331

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