LivaNova (LIVN) financial statements
LivaNova reported revenue of $1.4B in fiscal 2025, up 4.1% a year over 9 years.
Net income was -$242M and the operating margin 14.4%, against 3.5% in 2016.
Free cash flow was $173M.
The diluted share count rose 11% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from LivaNova's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $965M | $1.0B | $1.1B | $1.1B | $934M | $1.0B | $1.0B | $1.2B | $1.3B | $1.4B |
| Cost of revenue | $368M | $353M | $361M | $360M | $339M | $329M | $315M | $398M | $400M | $448M |
| Gross profit | $560M | $652M | $746M | $724M | $595M | $706M | $707M | $756M | $853M | $940M |
| Research and development | $82M | $110M | $146M | $147M | $153M | $183M | $156M | $194M | $183M | $186M |
| Selling, general and admin | $355M | $380M | $465M | $528M | $447M | $472M | $469M | $503M | $509M | $549M |
| Operating income | $33M | $96M | -$248M | -$172M | -$274M | -$784,000 | -$77M | -$68M | $129M | $199M |
| Interest expense | $11M | $8M | $10M | $15M | $41M | $50M | $48M | $59M | $63M | $49M |
| Pre-tax income | $26M | $121M | -$247M | -$188M | -$348M | -$124M | -$75M | -$81M | $88M | -$221M |
| Income tax | $5M | $50M | -$70M | -$30M | -$960,000 | $11M | $11M | -$99M | $25M | $22M |
| Net income | -$63M | -$25M | -$189M | -$158M | -$349M | -$136M | -$86M | $18M | $63M | -$242M |
| EPS (diluted) | -$1.28 | -$0.52 | -$3.91 | -$3.26 | -$7.18 | -$2.68 | -$1.61 | $0.32 | $1.16 | -$4.45 |
| Diluted shares | 49M | 49M | 48M | 48M | 49M | 51M | 53M | 54M | 55M | 55M |
| Gross margin | 58.0% | 64.4% | 67.4% | 66.8% | 63.7% | 68.2% | 69.2% | 65.5% | 68.1% | 67.7% |
| Operating margin | 3.5% | 9.5% | -22.4% | -15.8% | -29.3% | -0.1% | -7.5% | -5.9% | 10.3% | 14.4% |
| Net margin | -6.5% | -2.5% | -17.1% | -14.5% | -37.3% | -13.1% | -8.4% | 1.5% | 5.0% | -17.5% |
Balance sheet
Fiscal years, from LivaNova's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $40M | $94M | $47M | $61M | $253M | $208M | $214M | $267M | $429M | $636M |
| Receivables | $213M | $282M | $256M | $258M | $184M | $185M | $183M | $215M | $193M | $216M |
| Inventory | $133M | $144M | $154M | $164M | $115M | $106M | $129M | $148M | $148M | $165M |
| Total current assets | $813M | $870M | $533M | $549M | $708M | $679M | $886M | $988M | $1.1B | $1.1B |
| Property, plant and equipment | $204M | $192M | $191M | $181M | $164M | $150M | $147M | $154M | $170M | $243M |
| Goodwill | $692M | $784M | $957M | $916M | $922M | $900M | $769M | $783M | $750M | $793M |
| Total assets | $2.3B | $2.5B | $2.5B | $2.4B | $2.4B | $2.2B | $2.3B | $2.4B | $2.5B | $2.6B |
| Total current liabilities | $350M | $406M | $497M | $513M | $309M | $697M | $297M | $335M | $392M | $808M |
| Long-term debt | $75M | $62M | $140M | $260M | $642M | $10M | $518M | $569M | $550M | $345M |
| Total liabilities | $636M | $689M | $1.0B | $1.0B | $1.3B | $906M | $1.1B | $1.2B | $1.2B | $1.4B |
| Shareholders' equity | $1.7B | $1.8B | $1.5B | $1.4B | $1.1B | $1.3B | $1.2B | $1.3B | $1.3B | $1.2B |
| Net debt | $83M | $52M | $121M | $277M | $403M | $32M | $327M | $320M | $199M | -$259M |
Cash flow
Fiscal years, from LivaNova's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $90M | $91M | $120M | -$91M | -$79M | $103M | $70M | $75M | $183M | $254M |
| Capital spending | $38M | $33M | $37M | $25M | $35M | $25M | $27M | $35M | $47M | $81M |
| Free cash flow | $52M | $58M | $83M | -$116M | -$114M | $77M | $43M | $40M | $136M | $173M |
| Stock-based compensation | $20M | $19M | $27M | $33M | $35M | $41M | $45M | $36M | $34M | $36M |
| Share buybacks (net) | -$54M | $0 | -$50M | $0 | $0 | — | — | — | — | — |
| Net borrowing | -$48M | -$21M | $80M | $173M | $405M | -$452M | $284M | $28M | $88M | -$281M |
| Free cash flow margin | 5.4% | 5.8% | 7.5% | -10.7% | -12.3% | 7.4% | 4.2% | 3.5% | 10.8% | 12.5% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for LIVN.
Open LIVN in InvestinglyQuestions
What was LivaNova's revenue in 2025?
$1.4B in fiscal 2025, from its 10-K filing.
How much free cash flow does LivaNova generate?
$173M in fiscal 2025 (operating cash flow minus capital spending).
From LivaNova's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.