LivaNova PLC (NASDAQ:LIVN) Q2 2024 Earnings Conference Call July 31, 2024 8:00 AM ET

Company Participants

Matthew Dodds – Senior Vice President-Corporate Development and IT
Vladimir Makatsaria – Chief Executive Officer
Alex Shvartsburg – Chief Financial Officer
Ahmet Tezel – Chief Innovation Officer

Conference Call Participants

Rick Wise – Stifel
Mike Sarcone – Jefferies
Michael Polark – Wolfe Research
Adam Maeder – Piper Sandler
Anthony Petrone – Mizuho Group
Mike Matson – Needham & Company
David Rescott – Baird
Matt Miksic – Barclays

Operator

Good day, ladies and gentlemen, and welcome to the LivaNova PLC Second Quarter 2024 Earnings Conference Call. My name is Emily, and I’ll be moderating your call today. [Operator Instructions] As a reminder, this conference call is being recorded.

I would now like to introduce your host for today’s conference, Mr. Matthew Dodds, LivaNova’s Senior Vice President of Corporate Development and IT. Please go ahead, sir.

Matthew Dodds

Thank you, Emily, and welcome to our conference call and webcast discussing LivaNova’s financial results for the second quarter of 2024. Joining me on today’s call are Vladimir Makatsaria, our Chief Executive Officer and member of the Board of Directors; Alex Shvartsburg, our Chief Financial Officer; Ahmet Tezel, our Chief Innovation Officer, and Zach Glazier, Manager of Investor Relations.

Before we begin, I would like to remind you that the discussions during this call will include forward-looking statements. Factors that could cause actual results to differ materially are discussed in the company’s most recent filings and documents furnished to the SEC, including today’s press release that is available on our website. We do not undertake to update any forward-looking statement.

Also, the discussions will include certain non-GAAP financial measures with respect to our performance, including, but not limited to, revenue results which will all be stated on a constant currency basis. Reconciliations to the most directly comparable GAAP financial measures can be found in today’s press release, which is available on our website.

We have also posted a presentation to our website that summarizes the points of today’s call. This presentation is complementary to the other call materials and should be used as an enhanced communication tool. You can find the presentation and press release in the Investors section of our website under News, Events and Presentations at investor.livanova.com.

With that, I will now turn the call over to Vlad.

Vladimir Makatsaria

Thank you, Matt, and thank you, everyone, for joining us. Welcome to LivaNova’s conference call for the second quarter of 2024. Let me start by addressing the judgment by the European Court of Justice that came out on Monday, in connection with the SNIA litigation. The ECJ responded to a question raised by the Italian Supreme Court on European demerger law. While this is a complex matter, and there are a lot of – there are a lot more nuance here, the ECJ ruling effectively says that a company spun off any demerger can still be responsible for liabilities prior to the spin-off.