ARTIVION, INC. AORT

Healthcare SIC 3841 - Surgical & Medical Instruments & Apparatus NAICS Manufacturing › Miscellaneous Manufacturing › Medical Equipment and Supplies Manufacturing › Surgical and Medical Instrument Manufacturing derived NYSE

Artivion, Inc. ("Artivion," the "Company," "we," or "us"), is a leader in the manufacturing, processing, and distribution of medical devices and implantable human tissues used in cardiac and vascular surgical procedures for patients with aortic disease. We have four major product families: aortic stent grafts, On-X® mechanical heart valves and related surgical products ("On-X" products), surgical sealants, and implantable cardiac and vascular human tissues. Aortic stent grafts include aortic arch stent grafts, abdominal stent grafts, and synthetic vascular grafts. Aortic arch stent grafts include our E-vita® Open NEO, E-vita Open Plus, Arcevo™ LSA Hybrid Stent Graft System ("Arcevo LSA"), the Ascyrus Medical Dissection Stent ("AMDS") hybrid prosthesis, the NEXUS ONETM ("NEXUS ONE"), NEXUS DUOTM ("NEXUS DUO"), and NEXUS TRETM ("NEXUS TRE") aortic arch stent graft systems (the "NEXUS family of products"), and E-vita Thoracic 3G products. Abdominal stent grafts include our E-xtra Design Engineering, E-nsideTM, ArtivexTM, E-tegraTM, E-ventusTM BX, TuvaTM BX, and E-liacTM products. Surgical sealants include BioGlue® Surgical Adhesive ("BioGlue") products. In addition to these four major product families, we sell or distribute PhotoFix® bovine surgical patches ("PhotoFix") and CardioGenesis® cardiac laser therapy (prior to our abandonment of the business as of June 30, 2023). We began to manufacture and supply PerClot® hemostatic powder ("PerClot") during the second quarter of 2023 (as part of the Transitional Manufacturing and Supply Agreement ("TMSA") of the Baxter Transaction).

Last close 22.98 2026-10-26
Market cap $1.12B 2026-06-30 share count
52-week range 19.16 - 48.25

Valuation FY2025 figures against the last close

P/S2.5x
P/E109.4x
P/FCF1,335.4x
EV/EBITDA22.6x
Dividend yield—
Diluted EPS0.21

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • International
  • US
Revenue by geography, 2 categories over 3 years. The same figures are in the table below. FY2025 International, FY2025: 227.3M (51.5%) 51% International US, FY2025: 214.1M (48.5%) 49% US FY2024 International, FY2024: 198.5M (51.1%) 51% US, FY2024: 190M (48.9%) 49% FY2023 International, FY2023: 174.5M (49.3%) 49% US, FY2023: 179.5M (50.7%) 51%
Region FY2025FY2024FY2023
International $227.3M $198.5M $174.5M
US $214.1M $190.0M $179.5M

As the company reported it, from the “Segment and Geographic Information (Schedule Of Net Revenues By Geographic Location) (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Revenue by segment

  • North America
  • Emea
  • Apac
  • Latam
Revenue by segment, 4 categories over 3 years. The same figures are in the table below. FY2025 North America, FY2025: 221.7M (50.2%) 50% North America Emea, FY2025: 151.4M (34.3%) 34% Emea Apac, FY2025: 44.2M (10.0%) 10% Apac Latam, FY2025: 24M (5.4%) 5% Latam FY2024 North America, FY2024: 197.9M (50.9%) 51% Emea, FY2024: 131.5M (33.8%) 34% Apac, FY2024: 37.2M (9.6%) 10% Latam, FY2024: 21.9M (5.6%) 6% FY2023 North America, FY2023: 187.6M (53.0%) 53% Emea, FY2023: 114.8M (32.4%) 32% Apac, FY2023: 33.6M (9.5%) 9% Latam, FY2023: 18M (5.1%) 5%
Segment FY2025FY2024FY2023
North America $221.7M $197.9M $187.6M
Emea $151.4M $131.5M $114.8M
Apac $44.2M $37.2M $33.6M
Latam $24.0M $21.9M $18.0M

As the company reported it, from the “Revenue Recognition (Schedule of Disaggregation of Revenue) (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $441.3M$388.5M$354.0M$313.8M$298.8M$253.2M$276.2M$262.8M$189.7M$180.4M
Cost of revenue $157.1M$139.8M$124.8M$111.3M$101.3M$85.4M$93.2M$89.9M$61.1M$61.5M
Gross profit $284.2M$248.8M$229.2M$202.5M$197.5M$167.8M$183.0M$173.0M$128.6M$118.9M
R&D $31.0M$28.5M$28.7M$38.9M$35.5M$24.2M$23.0M$23.1M$19.5M$13.4M
SG&A $226.5M$181.5M$209.0M$157.4M$169.8M$141.1M$143.0M$140.6M$101.2M$91.5M
Total operating expenses $257.5M$209.9M$237.7M$196.3M$205.3M$165.3M$166.0M$163.7M$120.7M$105.0M
Operating income $33.7M$38.9M$5.7M$6.2M$8.1M$2.4M$17.0M$9.3M$8.0M$21.8M
Interest expense $26.6M$34.3M$25.3M$18.2M$16.9M$16.7M$14.9M$15.8M$4.9M$3.0M
Pre-tax income $14.8M-$7.5M-$21.6M-$15.0M-$14.8M-$17.2M$1.6M-$6.4M$3.6M$18.4M
Income tax $5.0M$5.8M$9.1M$4.2M$7.0K$492.0K$76.0K$3.6M$143.0K$7.6M
Net income $9.8M-$13.4M-$30.7M-$19.2M-$14.8M-$16.7M$1.7M-$2.8M$3.7M$10.8M
EPS, basic 0.22-0.32-0.75-0.48-0.38-0.440.05-0.080.110.33
EPS, diluted 0.21-0.32-0.75-0.48-0.38-0.440.05-0.080.110.32
Shares, diluted (wtd. avg.) 47.2M41.7M40.7M40.0M39.0M37.9M37.9M36.4M34.2M32.8M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $64.9M$53.5M$58.9M$39.4M$55.0M$62.0M$34.3M$42.2M$40.8M$57.3M
Receivables $89.8M$79.5M$71.8M$61.8M$53.0M$46.0M$52.9M$47.1M$47.5M$27.8M
Inventory $92.4M$79.8M$82.0M$74.5M$77.0M$73.0M$53.1M$45.5M$46.7M$26.3M
Total current assets $358.1M$290.1M$280.7M$247.3M$247.7M$234.6M$187.4M$179.2M$179.3M$147.2M
Property, plant and equipment $65.0M$36.4M$38.4M$38.7M$37.5M$33.1M$32.1M$31.0M$33.6M$18.5M
Goodwill $254.1M$241.0M$247.3M$243.6M$250.0M$260.1M$186.7M$188.8M$188.3M$78.3M
Other intangibles $123.7M$128.1M$142.6M$151.3M$167.0M$186.1M$115.4M$118.2M$130.4M$1.0M
Total assets $884.8M$789.1M$792.4M$762.8M$793.1M$789.4M$605.7M$571.1M$589.7M$316.1M
Accounts payable $16.0M$18.0M$13.3M$12.0M$10.4M$9.6M$9.8M$7.5M$9.8M$5.7M
Short-term debt $0$195.0K$1.5M$1.6M$1.6M$1.2M$1.2M$1.2M$718.0K$4.6M
Total current liabilities $101.6M$66.8M$57.9M$49.7M$45.0M$60.5M$45.2M$34.5M$42.9M$30.1M
Long-term debt $215.1M$314.2M$305.5M$306.5M$307.5M$290.5M$214.6M$215.7M$218.2M$67.0M
Total liabilities $436.6M$512.9M$510.6M$478.5M$492.3M$460.7M$320.0M$296.0M$312.6M$107.2M
Retained earnings -$51.5M-$61.3M-$47.9M-$17.2M$2.0M$20.0M$36.7M$35.0M$37.6M$34.1M
Total equity $448.2M$276.2M$281.8M$284.3M$300.7M$328.7M$285.7M$275.1M$277.1M$209.0M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $39.9M$22.2M$18.8M-$5.2M-$2.6M$12.4M$15.8M$9.9M$10.8M$19.7M
Depreciation and amortisation $22.5M$24.2M$23.1M$22.4M$24.0M$20.7M$18.3M$18.1M$9.7M$8.4M
Stock-based compensation $24.4M$14.2M$14.4M$12.3M$10.7M$6.9M$8.8M$6.3M$6.9M$6.3M
Capital expenditure $39.0M$11.2M$9.8M$10.7M$13.1M$7.3M$8.1M$5.8M$6.6M$6.2M
Investing cash flow -$42.0M-$28.2M-$502.0K-$10.7M$5.7M-$73.1M-$23.9M-$6.7M-$171.0M-$78.9M
Financing cash flow $11.3M$2.2M$865.0K-$1.6M-$12.2M$93.6M-$1.5M-$2.6M$143.2M$73.4M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-009046.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -200M 0 200M 400M 600M Revenue, FY2016: 180.4M Gross profit, FY2016: 118.9M Net income, FY2016: 10.8M Revenue, FY2017: 189.7M Gross profit, FY2017: 128.6M Net income, FY2017: 3.7M Revenue, FY2018: 262.8M Gross profit, FY2018: 173M Net income, FY2018: -2.8M Revenue, FY2019: 276.2M Gross profit, FY2019: 183M Net income, FY2019: 1.7M Revenue, FY2020: 253.2M Gross profit, FY2020: 167.8M Net income, FY2020: -16.7M Revenue, FY2021: 298.8M Gross profit, FY2021: 197.5M Net income, FY2021: -14.8M Revenue, FY2022: 313.8M Gross profit, FY2022: 202.5M Net income, FY2022: -19.2M Revenue, FY2023: 354M Gross profit, FY2023: 229.2M Net income, FY2023: -30.7M Revenue, FY2024: 388.5M Gross profit, FY2024: 248.8M Net income, FY2024: -13.4M Revenue, FY2025: 441.3M Gross profit, FY2025: 284.2M Net income, FY2025: 9.8M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $180.4M $189.7M $262.8M $276.2M $253.2M $298.8M $313.8M $354.0M $388.5M $441.3M
Gross profit $118.9M $128.6M $173.0M $183.0M $167.8M $197.5M $202.5M $229.2M $248.8M $284.2M
Net income $10.8M $3.7M -$2.8M $1.7M -$16.7M -$14.8M -$19.2M -$30.7M -$13.4M $9.8M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Material agreement signed Item 1.01
  • Material agreement signed Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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