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Avanos Medical, Inc., a medical technology company, provides medical device solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers digestive health products, such as Mic-Key enteral feeding tubes, Corpak patient feeding solutions, and NeoMed neonatal and pediatric feeding solutions. The company also provides non-opioid pain solutions, including surgical pain and recovery products, which comprise ON-Q and ambIT surgical pain pump, Game Ready cold, and compression therapy systems. In addition, it offers interventional pain solutions, which provide minimally invasive pain-relieving therapies, such as COOLIEF chronic pain products; and Trident and Esentec RFA radiofrequency ablation products to treat chronic pain conditions. The company markets its products directly to hospitals and other healthcare providers, healthcare facilities, and other end-user customers, as well as through third-party wholesale distributors. Avanos Medical, Inc. was formerly known as Halyard Health, Inc. and changed its name to Avanos Medical, Inc. in June 2018. The company was incorporated in 2014 and is headquartered in Alpharetta, 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 | $701M | $-20M | $-73M | $43M | -9.4% | 1.9% | -81.4% |
| 2024 | $688M | $-346M | $-392M | $83M | -47.3% | 2.2% | 534.5% |
| 2023 | $673M | $53M | $-62M | $15M | -5.0% | -1.6% | -222.4% |
| 2022 | $684M | $84M | $51M | $72M | 3.9% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 684.10 | 673.30 | 687.80 | 701.20 |
| Operating Revenue | - | 684.10 | 673.30 | 687.80 | 701.20 |
| Cost Of Revenue | - | 289.90 | 293.60 | 306.50 | 347.30 |
| Gross Profit | - | 394.20 | 379.70 | 381.30 | 353.90 |
| Operating Expense | - | 358.70 | 375.50 | 340.80 | 338.50 |
| Research And Development | - | 29.20 | 27.20 | 26.20 | 23.30 |
| Selling General And Administration | - | 326.50 | 335 | 318.50 | 315.60 |
| Total Expenses | - | 648.60 | 669.10 | 647.30 | 685.80 |
| Operating Income | - | 35.50 | 4.20 | 40.50 | 15.40 |
| Total Operating Income As Reported | - | 35.50 | 4.20 | -396.20 | -61.60 |
| EBITDA | - | 84.40 | 53.20 | -345.60 | -19.50 |
| Normalized EBITDA | - | 84.40 | 53.20 | 91.10 | 57.50 |
| EBIT | - | 36.70 | 7.10 | -391.10 | -58.40 |
| Interest Income | - | 1.20 | 2.90 | 5.10 | 3.20 |
| Interest Expense | - | 10 | 15 | 12.20 | 7.80 |
| Net Interest Income | - | -8.80 | -12.10 | -7.10 | -4.60 |
| Other Income Expense | - | - | - | -436.70 | -77 |
| Interest Income Non Operating | - | 1.20 | 2.90 | 5.10 | 3.20 |
| Interest Expense Non Operating | - | 10 | 15 | 12.20 | 7.80 |
| Net Non Operating Interest Income Expense | - | -8.80 | -12.10 | -7.10 | -4.60 |
| Pretax Income | - | 26.70 | -7.90 | -403.30 | -66.20 |
| Tax Provision | - | 5.20 | 2 | -17 | 6.70 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | -18.41 | -16.17 |
| Net Income Continuous Operations | - | 21.50 | -9.90 | -386.30 | -72.90 |
| Net Income From Continuing And Discontinued Operation | - | 50.50 | -61.80 | -392.10 | -72.90 |
| Net Income From Continuing Operation Net Minority Interest | - | 21.50 | -9.90 | -386.30 | -72.90 |
| Net Income | - | 50.50 | -61.80 | -392.10 | -72.90 |
| Net Income Common Stockholders | - | 50.50 | -61.80 | -392.10 | -72.90 |
| Net Income Including Noncontrolling Interests | - | 50.50 | -61.80 | -392.10 | -72.90 |
| Normalized Income | - | 21.50 | -9.90 | 31.99 | -12.07 |
| Diluted NI Availto Com Stockholders | - | 50.50 | -61.80 | -392.10 | -72.90 |
| Basic Average Shares | - | 46.90 | 46.60 | 46 | 46.30 |
| Diluted Average Shares | - | 47.30 | 46.60 | 46 | 46.30 |
| Reconciled Depreciation | - | 47.70 | 46.10 | 45.50 | 38.90 |
| Reconciled Cost Of Revenue | - | 289.90 | 293.60 | 306.50 | 347.30 |
| Total Unusual Items | - | 0 | 0 | -436.70 | -77 |
| Total Unusual Items Excluding Goodwill | - | 0 | 0 | -436.70 | -77 |
| Net Income Discontinuous Operations | - | 29 | -51.90 | -5.80 | 0 |
| Special Income Charges | - | 0 | 0 | -436.70 | -77 |
| Impairment Of Capital Assets | - | 0 | 0 | 436.70 | 77 |
| Other Operating Expenses | - | 3 | 13.30 | -3.90 | -0.40 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Avanos Medical, Inc.this co. | AVNS | $1.2B | - | 1.50 | -9.4% | - |
| IRADIMED CORPORATION | IRMD | $1.2B | 53.21 | 12.64 | 23.8% | 41.92 |
| CareDx, Inc. | CDNA | $1.2B | -55.93 | 3.94 | -7.0% | -248.15 |
| Kestra Medical Technologies, Ltd. | KMTS | $1.2B | -10.49 | 5.81 | -55.4% | -10.21 |
| AMN Healthcare Services, Inc. | AMN | $1.2B |
| - |
| - |
| - |
| - |
| - |
| - |
| 1.85 |
| -14.9% |
| 19.35 |
| Schrödinger, Inc. | SDGR | $1.2B | -11.47 | 3.25 | -28.4% | -6.61 |
| Wave Life Sciences Ltd. | WVE | $1.2B | - | 2.26 | -39.4% | - |
| Zenas BioPharma, Inc. | ZBIO | $1.2B | -3.07 | 4.79 | -156.0% | -2.84 |
| Absci Corporation | ABSI | $1.1B | -9.94 | 6.04 | -60.8% | -10.95 |
| Peer Median | - | -10.21 | 4.37 | -33.9% | -6.61 | |