Artivion (AORT) financial statements
Artivion reported revenue of $441M in fiscal 2025, up 10.5% a year over 9 years.
Net income was $10M and the operating margin 7.6%, against 12.1% in 2016.
Free cash flow was $839,000.
The diluted share count rose 44% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Artivion's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $180M | $190M | $263M | $276M | $253M | $299M | $314M | $354M | $389M | $441M |
| Cost of revenue | $61M | $61M | $90M | $93M | $85M | $101M | $111M | $125M | $140M | $157M |
| Gross profit | $119M | $129M | $173M | $183M | $168M | $198M | $203M | $229M | $249M | $284M |
| Research and development | $13M | $19M | $23M | $23M | $24M | $36M | $39M | $29M | $28M | $31M |
| Selling, general and admin | $92M | $101M | $141M | $143M | $141M | $170M | $157M | $209M | $181M | $226M |
| Operating income | $22M | $8M | $9M | $17M | $2M | $8M | $6M | $6M | $39M | $34M |
| Interest expense | $3M | $5M | $16M | $15M | $17M | $17M | $18M | $25M | $34M | $27M |
| Pre-tax income | $18M | $4M | -$6M | $2M | -$17M | -$15M | -$15M | -$22M | -$8M | $15M |
| Income tax | $8M | -$143,000 | -$4M | -$76,000 | -$492,000 | $7,000 | $4M | $9M | $6M | $5M |
| Net income | $11M | $4M | -$3M | $2M | -$17M | -$15M | -$19M | -$31M | -$13M | $10M |
| EPS (diluted) | $0.32 | $0.11 | -$0.08 | $0.05 | -$0.44 | -$0.38 | -$0.48 | -$0.75 | -$0.32 | $0.21 |
| Diluted shares | 33M | 34M | 36M | 38M | 38M | 39M | 40M | 41M | 42M | 47M |
| Gross margin | 65.9% | 67.8% | 65.8% | 66.3% | 66.3% | 66.1% | 64.5% | 64.7% | 64.0% | 64.4% |
| Operating margin | 12.1% | 4.2% | 3.5% | 6.2% | 1.0% | 2.7% | 2.0% | 1.6% | 10.0% | 7.6% |
| Net margin | 6.0% | 2.0% | -1.1% | 0.6% | -6.6% | -5.0% | -6.1% | -8.7% | -3.4% | 2.2% |
Balance sheet
Fiscal years, from Artivion's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $57M | $40M | $41M | $34M | $61M | $55M | $39M | $59M | $53M | $65M |
| Receivables | $28M | $48M | $47M | $53M | $46M | $53M | $62M | $72M | $79M | $90M |
| Inventory | $26M | $47M | $45M | $53M | $73M | $77M | $74M | $82M | $80M | $92M |
| Total current assets | $147M | $179M | $179M | $187M | $235M | $248M | $247M | $281M | $290M | $358M |
| Property, plant and equipment | $19M | $34M | $31M | $32M | $33M | $38M | $39M | $38M | $36M | $65M |
| Goodwill | $78M | $188M | $189M | $187M | $260M | $250M | $244M | $247M | $241M | $254M |
| Total assets | $316M | $590M | $571M | $606M | $789M | $793M | $763M | $792M | $789M | $885M |
| Total current liabilities | $30M | $43M | $35M | $45M | $60M | $45M | $50M | $58M | $67M | $102M |
| Long-term debt | $67M | $218M | $216M | $215M | $290M | $307M | $306M | $306M | $314M | $215M |
| Total liabilities | $107M | $313M | $296M | $320M | $461M | $492M | $478M | $511M | $513M | $437M |
| Shareholders' equity | $209M | $277M | $275M | $286M | $329M | $301M | $284M | $282M | $276M | $448M |
| Net debt | $15M | $179M | $175M | $182M | $230M | $254M | $269M | $248M | $261M | $150M |
Cash flow
Fiscal years, from Artivion's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $20M | $11M | $10M | $16M | $12M | -$3M | -$5M | $19M | $22M | $40M |
| Capital spending | $6M | $7M | $6M | $8M | $7M | $13M | $11M | $10M | $11M | $39M |
| Free cash flow | $14M | $4M | $4M | $8M | $5M | -$16M | -$16M | $9M | $11M | $839,000 |
| Stock-based compensation | $6M | $7M | $6M | $9M | $7M | $11M | $12M | $14M | $14M | $24M |
| Net borrowing | — | — | — | — | — | -$3M | -$3M | -$3M | -$28M | -$210,000 |
| Free cash flow margin | 7.5% | 2.2% | 1.6% | 2.8% | 2.0% | -5.2% | -5.1% | 2.6% | 2.8% | 0.2% |
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Open AORT in InvestinglyQuestions
What was Artivion's revenue in 2025?
$441M in fiscal 2025, from its 10-K filing.
How much free cash flow does Artivion generate?
$839,000 in fiscal 2025 (operating cash flow minus capital spending).
From Artivion's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.