Artivion, Inc. manufactures, processes, and distributes medical devices and implantable human tissues worldwide. The company offers On-X prosthetic aortic and mitral heart valves; On-X ascending aortic prosthesis; CarbonAid CO2 diffusion catheters; Chord-X ePTFE sutures; pyrolytic carbon coating services; E-vita Open NEO, a hybrid stent graft; Arcevo, an LSA hybrid stent graft system; AMDS hybrid prosthesis; and NEXUS ONE, an endovascular stent graft system. It also provides NEXUS DUO, an aortic arch system; NEXUS TRE, a custom-made three branch graft; E-vita thoracic 3G, a stent graft system; E-xtra Design Engineering, a range of stent graft systems for the treatment of aortic vascular diseases, such as TAAA and Artivex; E-nside, a multibranch stent graft system; E-tegra, an AAA stent graft system; E-ventus BX and Tuva BX balloon-expandable peripheral stent grafts; and E-liac, a stent graft used to treat aneurysmal iliac arteries. In addition, the company offers synthetic vascular grafts that are used in open aortic and peripheral vascular surgical procedures; BioGlue, a surgical sealant; CryoValve SG pulmonary heart valve; CryoPatch SG pulmonary cardiac patch; SynerGraft, a decellularization technology; vascular preservation services; and PhotoFix, a bovine pericardial patch fixated. It markets its products and preservation services primarily to physicians through a direct sales team to hospitals and other healthcare facilities. The company was formerly known as CryoLife, Inc. and changed its name to Artivion, Inc. in January 2022. Artivion, Inc. was incorporated in 1984 and is headquartered in Kennesaw, Georgia.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $441M | $64M | $10M | $1M | 2.2% | 13.6% | -173.1% |
| 2024 | $389M | $51M | $-13M | $11M | -4.8% | 9.8% | -56.5% |
| 2023 | $354M | $27M | $-31M | $9M | -10.9% | 12.8% | 59.9% |
| 2022 | $314M | $26M | $-19M | $-16M | -6.7% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 313.79 | 354 | 388.54 | 441.33 |
| Operating Revenue | - | 313.79 | 354 | 388.54 | 441.33 |
| Cost Of Revenue | - | 111.27 | 124.83 | 139.76 | 157.10 |
| Gross Profit | - | 202.52 | 229.18 | 248.78 | 284.23 |
| Operating Expense | - | 196.32 | 237.68 | 209.91 | 257.48 |
| Research And Development | - | 38.88 | 28.71 | 28.45 | 30.99 |
| Selling General And Administration | - | 157.44 | 208.98 | 181.46 | 226.49 |
| Total Expenses | - | 307.59 | 362.51 | 349.66 | 414.58 |
| Operating Income | - | 6.20 | -8.51 | 38.87 | 26.74 |
| Total Operating Income As Reported | - | 6.20 | 5.74 | 38.87 | 33.74 |
| EBITDA | - | 25.68 | 26.79 | 50.97 | 63.82 |
| Normalized EBITDA | - | 25.68 | 12.54 | 54.64 | 59.48 |
| EBIT | - | 3.24 | 3.71 | 26.76 | 41.36 |
| Interest Income | - | 0.15 | 1.08 | 1.47 | 0.76 |
| Interest Expense | - | 18.22 | 25.30 | 34.28 | 26.58 |
| Net Interest Income | - | -18.08 | -24.22 | -32.81 | -25.82 |
| Other Non Operating Income Expenses | - | -3.11 | -3.11 | -9.91 | 9.52 |
| Other Income Expense | - | -3.11 | 11.14 | -13.58 | 13.85 |
| Interest Income Non Operating | - | 0.15 | 1.08 | 1.47 | 0.76 |
| Interest Expense Non Operating | - | 18.22 | 25.30 | 34.28 | 26.58 |
| Net Non Operating Interest Income Expense | - | -18.08 | -24.22 | -32.81 | -25.82 |
| Pretax Income | - | -14.98 | -21.59 | -7.51 | 14.78 |
| Tax Provision | - | 4.21 | 9.10 | 5.84 | 5.01 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 2.99 | -0.77 | 1.47 |
| Net Income Continuous Operations | - | -19.19 | -30.69 | -13.36 | 9.77 |
| Net Income From Continuing And Discontinued Operation | - | -19.19 | -30.69 | -13.36 | 9.77 |
| Net Income From Continuing Operation Net Minority Interest | - | -19.19 | -30.69 | -13.36 | 9.77 |
| Net Income | - | -19.19 | -30.69 | -13.36 | 9.77 |
| Net Income Common Stockholders | - | -19.09 | -30.57 | -13.34 | 9.76 |
| Net Income Including Noncontrolling Interests | - | -19.19 | -30.69 | -13.36 | 9.77 |
| Normalized Income | - | -19.19 | -41.95 | -10.46 | 6.90 |
| Diluted NI Availto Com Stockholders | - | -19.09 | -30.57 | -13.34 | 9.76 |
| Basic Average Shares | - | 40.03 | 40.74 | 41.68 | 45.34 |
| Diluted Average Shares | - | 40.03 | 40.74 | 41.68 | 47.16 |
| Reconciled Depreciation | - | 22.44 | 23.08 | 24.20 | 22.46 |
| Reconciled Cost Of Revenue | - | 111.27 | 124.83 | 139.76 | 157.10 |
| Total Unusual Items | - | 0 | 14.25 | -3.67 | 4.34 |
| Total Unusual Items Excluding Goodwill | - | 0 | 14.25 | -3.67 | 4.34 |
| Special Income Charges | - | 0 | 14.25 | -3.67 | 4.34 |
| Other Special Charges | - | - | - | 3.67 | 2.66 |
| Gain On Sale Of Ppe | - | 0 | 14.25 | 0 | 7 |
| Otherunder Preferred Stock Dividend | - | -0.10 | -0.12 | -0.02 | 0.01 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Artivion, Inc.this co. | AORT | $1.0B | 103.65 | 2.26 | 2.2% | 18.87 |
| Collegium Pharmaceutical, Inc. | COLL | $1.1B | 16.86 | 3.51 | 20.8% | 4.10 |
| CONMED Corporation | CNMD | $1.1B | 22.48 | 1.02 | 4.6% | 10.49 |
| Azenta, Inc. | AZTA | $1.1B | -18.88 | 0.61 | -3.2% | 20.85 |
| The Pennant Group, Inc. | PNTG | $1.0B | 35.40 | 3.15 |
| - |
| - |
| - |
| - |
| 8.9% |
| 24.38 |
| QuidelOrtho Corporation | QDEL | $1.0B | -0.92 | 0.54 | -58.9% | -7.68 |
| EyePoint, Inc. | EYPT | $1.0B | -4.43 | 3.36 | -75.8% | -4.13 |
| Corvus Pharmaceuticals, Inc. | CRVS | $986M | -64.49 | 16.10 | -25.0% | -22.91 |
| InnovAge Holding Corp. | INNV | $977M | -32.24 | 4.16 | -12.9% | -102.40 |
| Peer Median | - | -2.68 | 3.25 | -8.1% | -0.01 | |