• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI SuperconnectorNEW
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI SuperconnectorNEW
  • Settings
  • RSS Feeds
PublishGo to AppAI Superconnector
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI superconnector for talent & startupsNEW
    Legal
    Terms of usePrivacy policyCookie policy

    Artivion Reports Second Quarter 2025 Financial Results

    8/7/25 4:05:00 PM ET
    $AORT
    Medical/Dental Instruments
    Health Care
    Get the next $AORT alert in real time by email

    Second Quarter Highlights:

    • Achieved revenue of $113.0 million in the second quarter of 2025 versus $98.0 million in the second quarter of 2024, an increase of 15% on a GAAP basis and 14% on a non-GAAP constant currency basis
    • Net income was $1.3 million, or $0.03 per fully diluted share and non-GAAP net income was $10.7 million, or $0.24 per fully diluted share in the second quarter of 2025
    • Adjusted EBITDA increased 33% to $24.8 million in the second quarter of 2025 compared to $18.6 million in the second quarter of 2024
    • Exchanged $99.5 million in principal amount of outstanding convertible senior notes due July 1, 2025 for common stock, resulting in the effective retirement of previously issued notes
    • Received Investigational Device Exemption (IDE) approval from the U.S. Food and Drug Administration (FDA) to initiate the ARTIZEN pivotal trial evaluating the efficacy and safety of Arcevo LSA to replace the entire aortic arch for the treatment of acute and chronic arch pathologies

    ATLANTA, Aug. 7, 2025 /PRNewswire/ -- Artivion, Inc. (NYSE:AORT), a leading cardiac and vascular surgery company focused on aortic disease, today announced financial results for the second quarter ended June 30, 2025.

    (PRNewsfoto/Artivion, Inc.)

    "The second quarter was exceptionally strong as we made progress across each of our strategic initiatives while delivering 14% constant currency revenue growth. Revenue growth was driven by year-over-year growth in On-X of 24%, stent grafts of 24%, BioGlue of 4%, and Preservation Services of 3%, all compared to the second quarter of 2024. On a constant currency basis, year-over-year On-X, stent grafts, BioGlue and preservation services grew 24%, 22%, 4% and 3%, respectively. In addition to our strong revenue performance, adjusted EBITDA grew 33% this quarter over the same period last year, which we believe demonstrates our ability to scale the business and continue to expand adjusted EBITDA margins," said Pat Mackin, Chairman, President, and Chief Executive Officer.

    Mr. Mackin added, "In addition to our strong commercial results in which both On-X and stent grafts grew over 20% on a constancy currency basis, we achieved another significant milestone in our pipeline with the IDE approval to initiate our Arcevo LSA pivotal trial. We also significantly improved our capital structure by retiring all of our $100 million Convertible Senior Notes due July 1, 2025."

    Mr. Mackin concluded, "Given our strong second quarter performance and continued business momentum, we are raising the midpoints of our full year 2025 constant currency revenue and EBITDA guidance and remain confident in our ability to grow adjusted EBITDA at twice the rate of constant currency revenue growth."

    Second Quarter 2025 Financial Results

    Total revenues for the second quarter of 2025 were $113.0 million, an increase of 15% on a GAAP basis and 14% on a non-GAAP constant currency basis, both compared to the second quarter of 2024.

    Net income for the second quarter of 2025 was $1.3 million, or $0.03 per fully diluted common share, compared to net loss of $(2.1) million, or $(0.05) per fully diluted common share for the second quarter of 2024. Non-GAAP net income for the second quarter of 2025 was $10.7 million, or $0.24 per fully diluted common share, compared to non-GAAP net income of $2.9 million, or $0.07 per fully diluted common share for the second quarter of 2024. Non-GAAP net income for the second quarter of 2025 includes pretax gains related to foreign currency revaluation of $4.5 million.

    2025 Financial Outlook

    Artivion is raising the midpoint of its full year 2025 revenue guidance and now expects constant currency growth of 12% to 14%, compared to the previous range of 11% to 14%. The Company expects reported revenues to be in the range of $435 to $443 million compared to the previous range of $423 to $435 million, reflecting the strong second quarter constant currency growth, greater confidence in the overall growth outlook, and an adjustment to FX assumptions for the second half of the year.  The guidance range is also based on current estimates that full year 2025 currency impact will be approximately flat to 2024. 

    Additionally, Artivion is raising the midpoint of its adjusted EBITDA guidance and now expects growth of between 21% and 28% for the full year 2025 compared to 18% to 28% previously provided. Growth rates are compared to 2024. The Company expects adjusted EBITDA to be in the range of $86 to $91 million, compared to the previously articulated range of $84 to $91 million.

    The Company's financial performance for 2025 and future periods is subject to the risks identified below.

    Non-GAAP Financial Measures

    This press release contains non-GAAP financial measures, including non-GAAP revenue, non-GAAP net income, EBITDA, adjusted EBITDA, non-GAAP general, administrative, and marketing expenses, and free cash flows. Investors should consider this non-GAAP information in addition to, and not as a substitute for, financial measures prepared in accordance with US GAAP. In addition, this non-GAAP financial information may not be the same as similar measures presented by other companies. The Company's non-GAAP revenues are adjusted for the impact of changes in currency exchange. The Company's non-GAAP net income, EBITDA, adjusted EBITDA, general, administrative, and marketing, and free cash flows results primarily exclude (as applicable) depreciation and amortization expense, interest income and expense, non-cash compensation expense, loss or gain on foreign currency revaluation, income tax expense or benefit, business development, integration, and severance income or expense, losses on inducement/extinguishment of debt, non-cash interest expense, capital expenditures, and other non-recurring items.

    The Company generally uses non-GAAP financial measures to facilitate management's review of the operational performance of the Company and as a basis for strategic planning. Company management believes that these non-GAAP presentations provide useful information to investors regarding unusual non-operating transactions, the operating expense structure of the Company's existing and acquired operations, without regard to its on-going efforts to acquire additional complementary products and businesses, and the transaction and integration expenses incurred in connection with recently acquired and divested product lines, and the operating expense structure excluding fluctuations resulting from foreign currency revaluation and non-cash compensation expense. The Company believes it is useful to exclude certain expenses and revenues because such amounts in any specific period may not directly correlate to the underlying performance of its business operations or can vary significantly between periods as a result of factors such as impact of recent acquisitions, non-cash expense related to amortization of previously acquired tangible and intangible assets, and any related adjustments to their carrying values. The Company has adjusted for the impact of changes in currency exchange from certain revenues to evaluate comparable product growth rates on a constant currency basis. The Company does, however, expect to incur similar types of expenses and currency exchange impacts in the future, and this non-GAAP financial information should not be viewed as a statement or indication that these types of expenses will not recur. Company management encourages investors to review the Company's consolidated financial statements and publicly filed reports in their entirety, including the reconciliation of GAAP to non-GAAP financial measures.

    The Company's adjusted EBITDA expectations for fiscal 2025 exclude potential charges or gains that may be recorded during the fiscal year, relating to, among other things, non-cash compensation; business development, integration, and severance income or expense; losses on inducement/extinguishment of debt; and foreign currency revaluations. The Company does not attempt to provide reconciliations of forward-looking adjusted EBITDA to the comparable GAAP measure because the impact and timing of these potential charges or gains are inherently uncertain and difficult to predict and are unavailable without unreasonable efforts. In addition, the Company believes such reconciliations would imply a degree of precision and certainty that could be confusing to investors. Such items could have a material impact on GAAP measures of the Company's financial performance.

    Webcast and Conference Call Information

    The Company will hold a teleconference call and live webcast on August 7, 2025, at 4:30 p.m. ET to discuss the results, followed by a question-and-answer session. To participate in the conference call dial 862-298-0702 a few minutes prior to 4:30 p.m. ET. The teleconference replay will be available approximately one hour following the completion of the event and can be accessed by calling (toll free) 877-660-6853 or 201-612-7415. The conference number for the replay is 13754541.

    The live webcast and replay can be accessed by going to the Investors section of the Artivion website at www.Artivion.com and selecting the heading Webcasts & Presentations.

    About Artivion, Inc.

    Headquartered in suburban Atlanta, Georgia, Artivion, Inc., is a medical device company focused on developing simple, elegant solutions that address cardiac and vascular surgeons' most difficult challenges in treating patients with aortic diseases. Artivion's four major groups of products include: aortic stent grafts, surgical sealants, On-X mechanical heart valves, and implantable cardiac and vascular human tissues. Artivion markets and sells products in more than 100 countries worldwide. For additional information about Artivion, visit our website, www.Artivion.com.

    Forward-Looking Statements

    Statements made in this press release that look forward in time or that express management's beliefs, expectations, or hopes are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the views of management at the time such statements are made. These statements include, but are not limited to, our beliefs and expectations about our revenue, year-over-year growth and growth drivers, earnings, currency impacts, and other financial measures and related information; our anticipated capital needs and capital structure; our beliefs about our competitive advantages and market opportunities; the expected impact on our business of the dynamic trade policy and tariff environment; our expected product mix and business strategy; anticipated quarterly fluctuations in our business; the benefits of receiving IDE approval to initiate our Arcevo LSA pivotal trial; the expected benefits from retiring our Convertible Senior Notes due July 1, 2025; our ability to scale our business and expand adjusted EBITDA margins; that our revenues for the full year 2025 will be in the range of $435 to $443 million, representing revenue growth of between 12% to 14% compared to 2024 on a constant currency basis; and that we expect non-GAAP adjusted EBITDA to increase between 21% and 28% for the full year 2025 compared to 2024, resulting in non-GAAP adjusted EBITDA in the range of $86 to $91 million in 2025. These forward-looking statements are subject to a number of risks, uncertainties, estimates and assumptions that may cause actual results to differ materially from current expectations, including, but not limited to, the unpredictability of the timing and outcome of regulatory decisions and other regulatory developments; risks relating to our international operations; the benefits anticipated from our 2024 credit facility, the Ascyrus Medical LLC transaction and Endospan agreements, and our operational improvements in our tissue and stent graft business may not be achieved at all or at the levels we anticipate or had originally anticipated; the benefits anticipated from our clinical trials and regulatory approvals may not be achieved or achieved on our anticipated timelines; the uncertainty regarding potential unknown or future impacts of the November 2024 cybersecurity incident; and the benefits anticipated from our expansion into APAC and LATAM may not be achieved or achieved on our anticipated timelines. These risks and uncertainties include the risk factors detailed in our Securities and Exchange Commission filings, including our Form 10-K for the year ended December 31, 2025, and our Form 10-Q for the quarter ended June 30, 2025. Artivion does not undertake to update its forward-looking statements, whether as a result of new information, future events, or otherwise.

    Contacts:

    Artivion

    Gilmartin Group LLC

    Lance A. Berry

    Brian Johnston / Laine Morgan

    Executive Vice President &

    Phone: 332-895-3222

    Chief Financial Officer

    [email protected]

    Phone: 770-419-3355



     

    Artivion, Inc. and Subsidiaries

    Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)

    In Thousands, Except Per Share Data

    (Unaudited)

    ‌



    Three Months Ended

    June 30,



    Six Months Ended

    June 30,



    2025



    2024



    2025



    2024

    Revenues:















    Products

    $          87,444



    $          73,210



    $        166,242



    $        144,324

    Preservation services

    25,528



    24,809



    45,708



    51,126

    Total revenues

    112,972



    98,019



    211,950



    195,450

    ‌















    Cost of products and preservation services:















    Products

    28,315



    24,545



    53,578



    48,295

    Preservation services

    11,545



    10,150



    21,683



    20,885

    Total cost of products and preservation services

    39,860



    34,695



    75,261



    69,180

    ‌















    Gross margin

    73,112



    63,324



    136,689



    126,270

    ‌















    Operating expenses:















    General, administrative, and marketing

    57,665



    49,320



    112,369



    80,009

    Research and development

    7,063



    7,497



    13,791



    14,443

    Total operating expenses

    64,728



    56,817



    126,160



    94,452

    ‌















    Operating income

    8,384



    6,507



    10,529



    31,818

    ‌















    Interest expense

    7,270



    8,304



    14,933



    16,130

    Interest income

    (68)



    (353)



    (212)



    (727)

    Losses on inducement/extinguishment of debt

    2,664



    —



    2,664



    3,669

    Other (income) expense, net

    (4,964)



    983



    (8,043)



    2,392

    ‌















    Income (loss) before income taxes

    3,482



    (2,427)



    1,187



    10,354

    Income tax expense (benefit)

    2,137



    (306)



    347



    4,942

    ‌















    Net income (loss)

    $            1,345



    $          (2,121)



    $                840



    $            5,412

    ‌















    Income (loss) per share:















    Basic

    $               0.03



    $             (0.05)



    $               0.02



    $               0.13

    Diluted

    $               0.03



    $             (0.05)



    $               0.02



    $               0.13

    ‌















    Weighted-average common shares outstanding:















    Basic

    44,296



    41,683



    43,270



    41,487

    Diluted

    45,378



    41,683



    44,503



    42,405

    ‌















    Net income (loss)

    $            1,345



    $          (2,121)



    $                840



    $            5,412

    Other comprehensive income (loss):















    Foreign currency translation adjustments, net of tax

    15,768



    (2,323)



    22,099



    (3,851)

    Comprehensive income (loss)

    $          17,113



    $          (4,444)



    $          22,939



    $            1,561

     

    Artivion, Inc. and Subsidiaries

    Condensed Consolidated Balance Sheets

    In Thousands

    ‌



    June 30,

    2025



    December 31,

    2024



    (Unaudited)





    ASSETS







    Current assets:







    Cash and cash equivalents

    $              53,476



    $              53,463

    Trade receivables, net

    91,440



    79,462

    Other receivables

    9,810



    6,431

    Inventories

    86,723



    79,766

    Deferred preservation costs

    52,817



    51,701

    Prepaid expenses and other

    24,554



    19,257

    Total current assets

    318,820



    290,080



    ‌





    Goodwill

    253,802



    240,958

    Acquired technology, net

    129,257



    128,051

    Operating lease right-of-use assets, net

    39,690



    39,726

    Property and equipment, net

    40,086



    36,403

    Other intangibles, net

    29,183



    28,332

    Deferred tax assets, net

    693



    1,068

    Other long-term assets

    26,856



    24,483

    Total assets

    $            838,387



    $            789,101

    ‌







    LIABILITIES AND STOCKHOLDERS' EQUITY







    Current liabilities:







    Accounts payable

    $              19,426



    $              17,971

    Accrued compensation

    15,896



    18,342

    Accrued expenses

    11,381



    11,834

    Accrued interest

    5,706



    8,170

    Taxes payable

    2,849



    2,934

    Accrued procurement fees

    2,569



    1,704

    Current maturities of operating leases

    4,956



    4,489

    Current portion of finance lease obligations

    710



    601

    Current portion of long-term debt

    73



    195

    Other current liabilities

    3,104



    583

    Total current liabilities

    66,670



    66,823

    ‌







    Long-term debt, net

    215,538



    314,152

    Contingent consideration

    52,670



    52,880

    Non-current maturities of operating leases

    39,409



    39,988

    Deferred tax liabilities, net

    23,455



    20,183

    Deferred compensation liability

    8,730



    7,977

    Non-current finance lease obligations

    3,055



    2,833

    Other long-term liabilities

    8,958



    8,065

    Total liabilities

    $            418,485



    $            512,901

    ‌







    Commitments and contingencies







    ‌







    Stockholders' equity:







    Preferred stock $0.01 par value per share, 5,000 shares authorized, no shares issued

    —



    —

    Common stock $0.01 par value per share, 75,000 shares authorized, 48,592 and 43,432 shares

    issued as of June 30, 2025 and December 31, 2024, respectively

    486



    434

    Additional paid-in capital

    497,318



    376,607

    Retained deficit

    (60,426)



    (61,266)

    Accumulated other comprehensive loss

    (2,828)



    (24,927)

    Treasury stock, at cost, 1,487 shares as of June 30, 2025 ‎and December 31, 2024

    (14,648)



    (14,648)

    Total stockholders' equity

    419,902



    276,200

    ‌







    Total liabilities and stockholders' equity

    $            838,387



    $            789,101

     

    Artivion, Inc. and Subsidiaries

    Condensed Consolidated Statement of Cash Flows

    In Thousands

    (Unaudited)

    ‌



    Six Months Ended

    June 30,



    2025



    2024

    Net cash flows from operating activities:







    Net income

    $                 840



    $              5,412

    ‌







    Adjustments to reconcile net income to net cash from operating activities:







    Depreciation and amortization

    10,984



    11,800

    Non-cash compensation

    14,167



    7,730

    Non-cash lease expense

    2,510



    3,897

    Write-down of inventories and deferred preservation costs

    2,379



    1,508

    Deferred income taxes

    (231)



    994

    Change in fair value of contingent consideration

    (210)



    (15,680)

    Losses on inducement/extinguishment of debt

    2,664



    3,669

    Other

    (7,423)



    1,178

    Changes in operating assets and liabilities:







    Receivables

    (9,660)



    (6,446)

    Inventories and deferred preservation costs

    (5,521)



    (2,165)

    Prepaid expenses and other assets

    (6,215)



    (5,224)

    Accounts payable, accrued expenses, and other liabilities

    (6,226)



    (6,031)

    Net cash flows (used in) provided by operating activities

    (1,942)



    642

    ‌







    Net cash flows from investing activities:







    Capital expenditures

    (6,925)



    (6,124)

    Net cash flows used in investing activities

    (6,925)



    (6,124)

    ‌







    Net cash flows from financing activities:







    Proceeds from issuance of long-term debt

    —



    190,000

    Proceeds from revolving credit facility

    —



    30,000

    Repayment of debt

    (134)



    (211,688)

    Proceeds from exercise of stock options and issuance of common stock

    4,459



    3,587

    Payment of debt issuance costs

    —



    (10,044)

    Proceeds from financing insurance premiums

    3,117



    —

    Principal payments on short-term notes payable

    (554)



    (1,027)

    Other

    (353)



    (272)

    Net cash flows provided by financing activities

    6,535



    556

    ‌







    Effect of exchange rate changes on cash and cash equivalents

    2,345



    1,005

    Increase (decrease) in cash and cash equivalents

    13



    (3,921)

    ‌







    Cash and cash equivalents beginning of period

    53,463



    58,940

    Cash and cash equivalents end of period

    $           53,476



    $           55,019

     

    Artivion, Inc. and Subsidiaries

    Financial Highlights

    In Thousands

    (Unaudited)

    ‌



    Three Months Ended

    June 30,



    Six Months Ended

    June 30,



    2025



    2024



    2025



    2024

    Products:















    Aortic stent grafts

    $             39,841



    $             32,190



    $             76,443



    $             64,293

    On-X

    25,572



    20,645



    47,146



    40,326

    Surgical sealants

    19,288



    18,545



    37,394



    35,526

    Other

    2,743



    1,830



    5,259



    4,179

    Total products

    87,444



    73,210



    166,242



    144,324

    ‌















    Preservation services

    25,528



    24,809



    45,708



    51,126

    Total revenues

    $         112,972



    $           98,019



    $           211,950



    $           195,450

    ‌















    North America

    57,569



    48,662



    105,362



    99,590

    Europe, the Middle East, and Africa

    38,713



    34,145



    75,758



    67,733

    Asia Pacific

    11,131



    9,653



    19,345



    17,262

    Latin America

    5,559



    5,559



    11,485



    10,865

    Total revenues

    $         112,972



    $           98,019



    $         211,950



    $         195,450

     

    Artivion, Inc. and Subsidiaries

    Reconciliation of GAAP to Non-GAAP

    Revenues 

    $ In Thousands

    (Unaudited)

    ‌



    Revenues for the

    Three Months Ended

    June 30,



    Percent

    Change

    From Prior

    Year



    2025



    2024





    US GAAP



    US GAAP



    Exchange Rate Effect



    Constant Currency



    Constant Currency

    Products:



















    Aortic stent grafts

    $           39,841



    $           32,190



    $                 584



    $           32,774



    22 %

    On-X

    25,572



    20,645



    41



    20,686



    24 %

    Surgical sealants

    19,288



    18,545



    61



    18,606



    4 %

    Other

    2,743



    1,830



    4



    1,834



    50 %

    Total products

    87,444



    73,210



    690



    73,900



    18 %

    ‌



















    Preservation services

    25,528



    24,809



    (17)



    24,792



    3 %

    Total

    $         112,972



    $           98,019



    $                 673



    $           98,692



    14 %

    ‌



















    North America

    57,569



    48,662



    (46)



    48,616



    18 %

    Europe, the Middle East, and Africa

    38,713



    34,145



    1,091



    35,236



    10 %

    Asia Pacific

    11,131



    9,653



    —



    9,653



    15 %

    Latin America

    5,559



    5,559



    (372)



    5,187



    7 %

    Total

    $         112,972



    $           98,019



    $                 673



    $           98,692



    14 %

    ‌



    Revenues for the

    Six Months Ended

    June 30,



    Percent

    Change

    From Prior

    Year



    2025



    2024





    US GAAP



    US GAAP



    Exchange Rate Effect



    Constant Currency



    Constant Currency

    Products:



















    Aortic stent grafts

    $           76,443



    $           64,293



    $               (724)



    $           63,569



    20 %

    On-X

    47,146



    40,326



    (231)



    40,095



    18 %

    Surgical sealants

    37,394



    35,526



    (256)



    35,270



    6 %

    Other

    5,259



    4,179



    —



    4,179



    26 %

    Total products

    166,242



    144,324



    (1,211)



    143,113



    16 %

    ‌



















    Preservation services

    45,708



    51,126



    (84)



    51,042



    -10 %

    Total

    $         211,950



    $         195,450



    $            (1,295)



    $         194,155



    9 %



    ‌

















    North America

    105,362



    99,590



    (198)



    99,392



    6 %

    Europe, the Middle East, and Africa

    75,758



    67,733



    (119)



    67,614



    12 %

    Asia Pacific

    19,345



    17,262



    —



    17,262



    12 %

    Latin America

    11,485



    10,865



    (978)



    9,887



    16 %

    Total

    $         211,950



    $         195,450



    $            (1,295)



    $         194,155



    9 %

     

    Artivion, Inc. and Subsidiaries

    Reconciliation of GAAP to Non-GAAP

    General, Administrative, and Marketing Expense, EBITDA, Adjusted EBITDA, and Free Cash Flows

    In Thousands

    (Unaudited)

    ‌



    Three Months Ended

    June 30,



    Six Months Ended

    June 30,



    2025



    2024



    2025



    2024

    Reconciliation of G&A expenses, GAAP to adjusted G&A, non-GAAP:















    General, administrative, and marketing expense, GAAP

    $     57,665



    $     49,320



    $   112,369



    $     80,009

      Business development, integration, and severance expense (income)

    3,050



    2,033



    266



    (15,354)

    Cybersecurity incident

    1,243



    —



    5,693



    —

    Adjusted G&A, non-GAAP

    $     53,372



    $     47,287



    $   106,410



    $     95,363

    ‌



    Three Months Ended

    June 30,



    Six Months Ended

    June 30,



    2025



    2024



    2025



    2024

    Reconciliation of net income (loss), GAAP and EBITDA, non-GAAP to adjusted EBITDA, non-GAAP:















    Net income (loss), GAAP

    $       1,345



    $     (2,121)



    $           840



    $       5,412

    Adjustments:















    Interest expense

    7,270



    8,304



    14,933



    16,130

    Interest income

    (68)



    (353)



    (212)



    (727)

    Income tax expense (benefit)

    2,137



    (306)



    347



    4,942

    Depreciation and amortization expense

    5,538



    5,891



    10,984



    11,800

    EBITDA, non-GAAP

    16,222



    11,415



    26,892



    37,557

    ‌















    Non-cash compensation

    6,122



    4,252



    14,167



    7,730

      Business development, integration, and severance expense (income)

    2,568



    2,033



    (489)



    (15,354)

    Cybersecurity incident

    1,683



    —



    6,429



    —

    Losses on inducement/extinguishment of debt

    2,664



    —



    2,664



    3,669

    (Gain) loss on foreign currency revaluation

    (4,495)



    943



    (7,351)



    2,353

















    Adjusted EBITDA, non-GAAP

    $     24,764



    $     18,643



    $     42,312



    $     35,955





    Three Months Ended

    June 30,



    Six Months Ended

    June 30,



    2025



    2024



    2025



    2024

    Reconciliation of cash flows from operating activities, GAAP to free cash flows, non-GAAP:















    Net cash flows provided by (used in) operating activities

    15,011



    6,135



    $     (1,942)



    $           642

    Capital expenditures

    (3,287)



    (2,513)



    (6,925)



    (6,124)

    Free cash flows, non-GAAP

    $     11,724



    $       3,622



    $     (8,867)



    $     (5,482)

     

    Artivion Inc. and Subsidiaries

    Reconciliation of GAAP to Non-GAAP

    Net Income and Diluted Income Per Common Share

    In Thousands, Except Per Share Data

    (Unaudited)

    ‌



    Three Months Ended

    June 30,



    Six Months Ended

    June 30,



    2025



    2024



    2025



    2024

    GAAP:















    Income (loss) before income taxes

    $      3,482



    $    (2,427)



    $       1,187



    $     10,354

    Income tax expense (benefit)

    2,137



    (306)



    347



    4,942

    Net income (loss)

    $      1,345



    $    (2,121)



    $          840



    $       5,412

    ‌‌















    Diluted income (loss) per common share

    $        0.03



    $      (0.05)



    $         0.02



    $         0.13

















    Diluted weighted-average common shares outstanding

    45,378



    41,683



    44,503



    42,405

    ‌















    Reconciliation of income (loss) before income taxes, GAAP to adjusted income, non-GAAP:















    Income (loss) before income taxes, GAAP:

    $      3,482



    $    (2,427)



    $       1,187



    $     10,354

    Adjustments:















     Amortization expense

    3,427



    3,793



    6,815



    7,660

     Business development, integration, and severance expense (income)

    2,568



    2,033



    (489)



    (15,354)

     Non-cash interest expense

    485



    484



    1,028



    1,064

     Cybersecurity incident

    1,683



    —



    6,429



    —

     Losses on inducement/extinguishment of debt

    2,664



    —



    2,664



    3,669

     Adjusted income before income taxes, non-GAAP

    14,309



    3,883



    17,634



    7,393

    ‌















    Income tax expense calculated at a tax rate of 25%

    3,577



    970



    4,408



    1,848

     Adjusted net income, non-GAAP

    $    10,732



    $      2,913



    $     13,226



    $       5,545

    ‌















    Reconciliation of diluted income (loss) per common share, GAAP to adjusted diluted income per common share, non-GAAP:















    Diluted income (loss) per common share, GAAP:

    $        0.03



    $      (0.05)



    $         0.02



    $         0.13

    Adjustments:















     Amortization expense

    0.07



    0.09



    0.15



    0.18

     Business development, integration, and severance expense (income)

    0.06



    0.05



    (0.01)



    (0.36)

     Non-cash interest expense

    0.01



    0.01



    0.02



    0.02

     Cybersecurity incident

    0.03



    —



    0.14



    —

     Losses on inducement/extinguishment of debt

    0.06



    —



    0.06



    0.09

     Tax effect of non-GAAP adjustments

    (0.06)



    (0.04)



    (0.09)



    0.01

     Effect of 25% tax rate

    0.04



    0.01



    0.01



    0.06

    Adjusted diluted income per common share, non-GAAP

    $        0.24



    $        0.07



    $         0.30



    $         0.13

    ‌















    Reconciliation of diluted weighted-average common shares outstanding GAAP to diluted weighted-average common shares outstanding, non-GAAP:















    Diluted weighted-average common shares outstanding, GAAP:

    45,378



    41,683



    44,503



    42,405

    Adjustments:















     Effect of dilutive stock options and awards

    —



    941



    —



    —

     Diluted weighted-average common shares outstanding, non-GAAP

    45,378



    42,624



    44,503



    42,405

     

    Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/artivion-reports-second-quarter-2025-financial-results-302524685.html

    SOURCE Artivion, Inc.

    Get the next $AORT alert in real time by email

    Crush Q3 2025 with the Best AI Superconnector

    Stay ahead of the competition with Standout.work - your AI-powered talent-to-startup matching platform.

    AI-Powered Inbox
    Context-aware email replies
    Strategic Decision Support
    Get Started with Standout.work

    Recent Analyst Ratings for
    $AORT

    DatePrice TargetRatingAnalyst
    8/13/2025$38.79Buy → Neutral
    Ladenburg Thalmann
    6/17/2025$35.00Buy
    Canaccord Genuity
    10/23/2024$33.00Mkt Outperform
    JMP Securities
    9/27/2022$32.00 → $28.00Buy
    Lake Street
    8/8/2022$32.00Buy
    Lake Street
    3/3/2022$30.00Buy
    Stifel
    2/18/2022$39.00 → $30.00Buy
    Needham
    More analyst ratings

    $AORT
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    View All

    Artivion downgraded by Ladenburg Thalmann with a new price target

    Ladenburg Thalmann downgraded Artivion from Buy to Neutral and set a new price target of $38.80

    8/13/25 8:00:59 AM ET
    $AORT
    Medical/Dental Instruments
    Health Care

    Canaccord Genuity initiated coverage on Artivion with a new price target

    Canaccord Genuity initiated coverage of Artivion with a rating of Buy and set a new price target of $35.00

    6/17/25 7:48:51 AM ET
    $AORT
    Medical/Dental Instruments
    Health Care

    JMP Securities initiated coverage on Artivion with a new price target

    JMP Securities initiated coverage of Artivion with a rating of Mkt Outperform and set a new price target of $33.00

    10/23/24 6:17:27 AM ET
    $AORT
    Medical/Dental Instruments
    Health Care

    $AORT
    FDA approvals

    Live FDA approvals issued by the Food and Drug Administration and FDA breaking news

    View All

    May 23, 2023 - FDA Roundup: May 23, 2023

    For Immediate Release: May 23, 2023 Today, the U.S. Food and Drug Administration is providing an at-a-glance summary of news from around the agency:  On Monday, the FDA and the Veterans Health Administration announced a new collaboration to jointly develop emergency preparedness and response tools and protocols intended to help increase medical product manufacturing capacity and flexibility, and improve resilie

    5/23/23 4:06:19 PM ET
    $AORT
    Medical/Dental Instruments
    Health Care

    $AORT
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    View All

    Director Semedo Anthony B. bought $53,140 worth of shares (2,100 units at $25.30), increasing direct ownership by 4% to 35,659 units (SEC Form 4)

    4 - ARTIVION, INC. (0000784199) (Issuer)

    3/5/25 4:01:01 PM ET
    $AORT
    Medical/Dental Instruments
    Health Care

    $AORT
    SEC Filings

    View All

    Artivion Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits

    8-K - ARTIVION, INC. (0000784199) (Filer)

    8/11/25 1:18:02 PM ET
    $AORT
    Medical/Dental Instruments
    Health Care

    SEC Form S-8 filed by Artivion Inc.

    S-8 - ARTIVION, INC. (0000784199) (Filer)

    8/8/25 2:27:57 PM ET
    $AORT
    Medical/Dental Instruments
    Health Care

    SEC Form 10-Q filed by Artivion Inc.

    10-Q - ARTIVION, INC. (0000784199) (Filer)

    8/8/25 11:30:09 AM ET
    $AORT
    Medical/Dental Instruments
    Health Care

    $AORT
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    View All

    President & CEO Mackin James P sold $528,988 worth of shares (12,500 units at $42.32), decreasing direct ownership by 1% to 852,783 units (SEC Form 4)

    4 - ARTIVION, INC. (0000784199) (Issuer)

    8/19/25 11:28:10 AM ET
    $AORT
    Medical/Dental Instruments
    Health Care

    SVP, General Counsel Holloway Jean F exercised 16,975 shares at a strike of $26.24 and sold $1,004,610 worth of shares (23,356 units at $43.01), decreasing direct ownership by 4% to 172,129 units (SEC Form 4)

    4 - ARTIVION, INC. (0000784199) (Issuer)

    8/14/25 9:58:42 AM ET
    $AORT
    Medical/Dental Instruments
    Health Care

    Chief Commercial Officer Davis John E exercised 10,802 shares at a strike of $26.24 and sold $471,756 worth of shares (10,802 units at $43.67) (SEC Form 4)

    4 - ARTIVION, INC. (0000784199) (Issuer)

    8/14/25 9:56:50 AM ET
    $AORT
    Medical/Dental Instruments
    Health Care

    $AORT
    Press Releases

    Fastest customizable press release news feed in the world

    View All

    Artivion Reports Second Quarter 2025 Financial Results

    Second Quarter Highlights: Achieved revenue of $113.0 million in the second quarter of 2025 versus $98.0 million in the second quarter of 2024, an increase of 15% on a GAAP basis and 14% on a non-GAAP constant currency basisNet income was $1.3 million, or $0.03 per fully diluted share and non-GAAP net income was $10.7 million, or $0.24 per fully diluted share in the second quarter of 2025Adjusted EBITDA increased 33% to $24.8 million in the second quarter of 2025 compared to $18.6 million in the second quarter of 2024Exchanged $99.5 million in principal amount of outstanding convertible senior notes due July 1, 2025 for common stock, resulting in the effective retirement of previously issued

    8/7/25 4:05:00 PM ET
    $AORT
    Medical/Dental Instruments
    Health Care

    Artivion to Participate in Upcoming Investor Conferences

    ATLANTA, July 30, 2025 /PRNewswire/ -- Artivion, Inc. (NYSE:AORT), a leading cardiac and vascular surgery company focused on aortic disease, today announced that it will participate in two upcoming investor conferences. Artivion's management team will present at the upcoming Canaccord Genuity 45th Annual Growth Conference on Wednesday, August 13, 2025 at the InterContinental Boston Hotel. The Company's presentation is scheduled to begin at 10:30 a.m. ET. A live webcast can be accessed through Artivion's website, www.artivion.com, on the Investors page.  An archived copy of the

    7/30/25 4:10:00 PM ET
    $AORT
    Medical/Dental Instruments
    Health Care

    Artivion Announces Release Date and Teleconference Call Details for Second Quarter 2025 Financial Results

    ATLANTA, July 24, 2025 /PRNewswire/ -- Artivion, Inc. (NYSE:AORT), a leading cardiac and vascular surgery company focused on aortic disease, announced today that second quarter 2025 financial results will be released on Thursday, August 7, 2025, after the market closes. On that day, the Company will hold a teleconference call and live webcast at 4:30 p.m. ET to discuss the results, followed by a question-and-answer session hosted by Pat Mackin, Chairman, President and Chief Executive Officer of Artivion. To listen to the live teleconference, please dial 862-298-0702 a few minu

    7/24/25 4:10:00 PM ET
    $AORT
    Medical/Dental Instruments
    Health Care

    $AORT
    Leadership Updates

    Live Leadership Updates

    View All

    Artivion Appoints Lance A. Berry as Executive Vice President, Chief Financial Officer; Announces Retirement of D. Ashley Lee, Chief Financial Officer

    Reaffirms Financial Guidance Provided on November 2, 2023 ATLANTA, Dec. 6, 2023 /PRNewswire/ -- Artivion, Inc. (NYSE:AORT), a leading cardiac and vascular surgery company focused on aortic disease today announced the appointment of Lance A. Berry as the Company's Chief Financial Officer, effective as of December 4, 2023. In this role, Mr. Berry joins Artivion's executive leadership team and replaces Mr. D. Ashley Lee, who will retire at the end of the year after a successful and long tenure with the Company and a distinguished career in the medical device industry. Artivion also reaffirmed its full-year 2023 financial guidance that was provided on November 2, 2023.

    12/6/23 4:15:00 PM ET
    $AORT
    Medical/Dental Instruments
    Health Care

    Sequana Medical announces results of Special General Meeting of Shareholders

    PRESS RELEASEREGULATED INFORMATION26 June 2023, 06:00 pm CEST Dr. Kenneth Macleod appointed as non-executive director Ghent, Belgium – 26 June 2023 – Sequana Medical NV (Euronext Brussels: SEQUA) (the "Company" or "Sequana Medical"), a pioneer in the treatment of fluid overload in liver disease, heart failure and cancer, today announces that all proposed resolutions submitted to the Special General Meeting of Shareholders were approved at the meeting held today at 09:00 am CEST. The items on the agenda of the meeting included the appointment of Dr. Kenneth Macleod as non-executive director of the Company and the approval in accordance with Article 7:151 of the Belgian Companies and Asso

    6/26/23 12:00:00 PM ET
    $AORT
    $PHAR
    Medical/Dental Instruments
    Health Care
    Biotechnology: Pharmaceutical Preparations

    Elizabeth Hoff Joins Artivion Board of Directors

    ATLANTA, Sept. 29, 2022 /PRNewswire/ -- Artivion, Inc. (NYSE:AORT), a leading cardiac and vascular surgery company focused on aortic disease, today announced the appointment of Elizabeth A. Hoff to its Board of Directors effective October 1, 2022. "We are excited to welcome Elizabeth to our Board of Directors," said Pat Mackin, Chairman, President, and Chief Executive Officer. "Elizabeth brings a wealth of knowledge in the medical device industry demonstrated by her tenure in the aortic space leading teams focused on the development and commercial launch of innovative healthca

    9/29/22 4:10:00 PM ET
    $AORT
    Medical/Dental Instruments
    Health Care

    $AORT
    Financials

    Live finance-specific insights

    View All

    Artivion Reports Second Quarter 2025 Financial Results

    Second Quarter Highlights: Achieved revenue of $113.0 million in the second quarter of 2025 versus $98.0 million in the second quarter of 2024, an increase of 15% on a GAAP basis and 14% on a non-GAAP constant currency basisNet income was $1.3 million, or $0.03 per fully diluted share and non-GAAP net income was $10.7 million, or $0.24 per fully diluted share in the second quarter of 2025Adjusted EBITDA increased 33% to $24.8 million in the second quarter of 2025 compared to $18.6 million in the second quarter of 2024Exchanged $99.5 million in principal amount of outstanding convertible senior notes due July 1, 2025 for common stock, resulting in the effective retirement of previously issued

    8/7/25 4:05:00 PM ET
    $AORT
    Medical/Dental Instruments
    Health Care

    Artivion Reports First Quarter 2025 Financial Results

    First Quarter Highlights: Achieved revenue of $99.0 million in the first quarter of 2025 versus $97.4 million in the first quarter of 2024, an increase of 2% on a GAAP basis and 4% on a non-GAAP constant currency basisNet loss was $(0.5) million, or $(0.01) per fully diluted share and non-GAAP net income was $2.5 million, or $0.06 per fully diluted share in the first quarter of 2025Adjusted EBITDA increased 1% to $17.5 million in the first quarter of 2025 compared to $17.3 million in the first quarter of 202430-day data from Endospan's NEXUS TRIOMPHE IDE trial presented at the AATS Annual Meeting demonstrated a 63% reduction in the major adverse event (MAE) rate compared with reference perf

    5/5/25 4:05:00 PM ET
    $AORT
    Medical/Dental Instruments
    Health Care

    Artivion Reports Fourth Quarter and Full Year 2024 Financial Results

    Fourth Quarter Highlights: Achieved revenue of $97.3 million in the fourth quarter of 2024 versus $93.7 million in the fourth quarter of 2023, an increase of 4% on a GAAP basis and 3% on a non-GAAP constant currency basisAchieved revenue of $388.5 million for the full year of 2024 versus $354.0 million for the full year of 2023, an increase of 10% on a GAAP basis and 9% on a non-GAAP constant currency basisNet loss was $(16.5) million, or $(0.39) per fully diluted share and non-GAAP net income was $0.2 million, or $0.00 per fully diluted share in the fourth quarter of 2024. For the full year, net loss was $(13.4) million, compared to a net loss of $(30.7) million in the 2023 fiscal yearAdju

    2/24/25 4:05:00 PM ET
    $AORT
    Medical/Dental Instruments
    Health Care

    $AORT
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    View All

    Amendment: SEC Form SC 13G/A filed by Artivion Inc.

    SC 13G/A - ARTIVION, INC. (0000784199) (Subject)

    11/8/24 10:29:29 AM ET
    $AORT
    Medical/Dental Instruments
    Health Care

    SEC Form SC 13G filed by Artivion Inc.

    SC 13G - ARTIVION, INC. (0000784199) (Subject)

    3/11/24 5:45:25 PM ET
    $AORT
    Medical/Dental Instruments
    Health Care

    SEC Form SC 13G/A filed by Artivion Inc. (Amendment)

    SC 13G/A - ARTIVION, INC. (0000784199) (Subject)

    2/14/24 6:18:56 AM ET
    $AORT
    Medical/Dental Instruments
    Health Care