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Artivion, Inc. (AORT) stock

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NYSE: AORT NYSE Health Care Equipment Next results ~November 5, 2026

C Fundamentals grade

Artivion, Inc. is a US-listed company in the health care equipment industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$13

Valuation models combined (2)

Base case. Range ~$12–$14. Weighted average of 2 models (forward price-to-earnings vs peers, forward price-to-sales vs peers).

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Artivion, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Artivion files

Where Artivion stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $471m, up 16.4% on a year earlier, slower than the 17.6% growth a quarter earlier. Free-cash-flow margin fell to -1.9% from 1.9% a year earlier. The diluted share count is up 21.0% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 7 financial-health checks. Our price-to-sales vs peers value is $9.63 a share, against a share price of $23.35.

Source: 10-Q filed August 7, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Artivion, Inc.'s trailing-twelve-month revenue grew 16.4% year on year, with a free-cash-flow margin of -1.9%.

Current signal Capital expenditure surging: TTM capex grew 324% year over year and now absorbs 10.8% of revenue.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 16.4% over the last 12 months, against a median of 9.1% for health care equipment companies we cover.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Burning cash. Free cash flow was -1.9% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 21.0% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 49% and a beta of 0.2 against the S&P 500.
  • Insiders selling. 8 insiders sold $21M of stock over the past 365 days and none bought (24% under pre-set trading plans).
  • Below peers: days sales outstanding. Days sales outstanding of 76 days ranks 91 of 118 health care equipment companies we cover (median 57 days).

Latest results: FY2026 Q2

Filed August 7, 2026
Earnings per share
$0.13 against an average estimate of $0.10: beat by 34.5%
Revenue
$126m, up 11.3% on a year earlier
Share reaction
+3.6% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Guidance given
revenue $480m to $496m (full year 2026); adjusted EBITDA $92m to $99m (full year 2026)
Next report
November 5, 2026; average EPS estimate $0.07

Artivion's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+4.4%
  • 1 week+2.6%
  • 1 month+5.7%
  • This year-48.3%
  • 1 year-48.0%
  • 5 years+10.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$471M
Operating margin
4.4%
Net margin
-0.7%
EPS (TTM, diluted)
$-0.06

Growth

Revenue growth
+16.4%
Change in growth rate
−1.2 pts
Share count change
+21.0%

Cash

Free cash flow (TTM)
-$9.2M
FCF margin
-1.9%
Stock pay % of revenue
5.7%

Earnings

Last results
August 6, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Insider trade
  2. Results
  3. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Artivion, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Our value per share comes from a discounted-cash-flow model of Artivion, Inc.'s free cash flow after stock-based pay ( $4.6M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Artivion, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9%: the 10-year Treasury yield (4.9%) plus a beta of 0.91 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$4.5 ~$1.4–$6.6 Left out: out of range vs price (0.19x)
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$12 ~$11–$19 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$14 ~$15–$52 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$13 ~$12–$14 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Artivion, Inc. with Health Care Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$10.78$19.15$19.15$28.38$27.09$23.61$20.35$12.12$17.88$28.59$45.61$23.58
Market value$308m$629m$654m$1.0bn$1.0bn$894m$793m$485m$728m$1.2bn$2.2bn$1.2bn
+ Net debt (− = net cash)−$38m$17m$189m$184m$189m$239m$263m$275m$253m$267m$155m$293m
Enterprise value$270m$645m$843m$1.2bn$1.2bn$1.1bn$1.1bn$761m$982m$1.5bn$2.3bn$1.5bn
Multiples
Price / sales 2.1x3.5x3.4x3.9x3.7x3.5x2.7x1.5x2.1x3.1x4.9x2.5x
Price / earnings 76.8x58.3x176.6x—n/m—————n/m—
Price / free cash flow 38.7x46.5x156.9xn/m132.3x177.3x——80.3x107.8xn/m—
EV / EBITDA 24.1x21.4x47.6x44.4x34.4x48.9x32.9x26.6x34.1x23.1x41.0x32.5x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

39 /100

Weak moat

How hard Artivion's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 1 / 20

    Cash operating profit has been a median 2.8% of total assets over 9 years.

  • Pricing power 20 / 20

    Gross margin has been a median 65.7%, moving by 1.1 percentage points (standard deviation) across 10 years.

  • Durability 4 / 20

    Operating margin has been a median 4.0%; its worst year was 1.1%.

  • Cash conversion 7 / 20

    Free cash flow was positive in 6 of 10 years, at a median 1.2% of revenue.

  • Discipline 8 / 20

    The diluted share count rose 29.2% over five years; stock-based pay has been a median 3.9% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, after the close. Analysts expect revenue of $121m and EPS of $0.07 (range $0.03 to $0.11) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.40 −37% $491m +11%
Next $0.75 +88% $544m +11%

Next year's EPS estimate has moved +3.9% in 90 days, across 6 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −9.9% on 90 days ago. In the last 30 days, 0 analysts raised Artivion, Inc.'s forecast and 1 cut it.

Consensus EPS forecast Artivion, Inc., last 90 days
$0.30 $0.40 $0.50 $0.60 $0.70 $0.80 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.44 Current fiscal year, 60 days ago: $0.40 Current fiscal year, 30 days ago: $0.40 Current fiscal year, 7 days ago: $0.40 Current fiscal year, Now: $0.40 $0.40 Next fiscal year, 90 days ago: $0.72 Next fiscal year, 60 days ago: $0.75 Next fiscal year, 30 days ago: $0.75 Next fiscal year, 7 days ago: $0.75 Next fiscal year, Now: $0.75 $0.75

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.44$0.72
60 days ago $0.40$0.75
30 days ago $0.40$0.75
7 days ago $0.40$0.75
Now $0.40$0.75

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.10 $0.13 +34.5%
Mar 2026 $0.12 $0.08 −35.1%
Dec 2025 $0.18 $0.17 −3.4%
Sept 2025 $0.15 $0.16 +5.3%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 6, 2026
  • revenue full year 2026 $480m to $496m Non-GAAP Maintained
    “Artivion is reiterating its expectations for revenue for the full year 2026 to be in the range of $480 to $496 million, representing growth of 7% to 11% on an adjusted constant currency basis compared to 2025 adjusted revenue 1 .” source
  • adjusted EBITDA full year 2026 $92m to $99m Non-GAAP Maintained
    “Artivion is reiterating its full year 2026 adjusted EBITDA to be in the range of $92 to $99 million.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Artivion, Inc.'s revenue by +11.5% next year and +13.5% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+9.8%, weight 64%) and the company's own record (+14.6%, weight 36%) . How the weights are set.

Analyst recommendations

9 analysts, Oct 2026
Buy9100%
Hold00%
Sell00%

Monthly trend

  1. Oct 2026279
  2. Sep 2026268
  3. Aug 2026268
  4. Jul 2026268

Counts of recommendations published by analysts covering Artivion, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
9.2%
of tradable shares
Days to cover
6.21
at average volume
Short interest, 1 month
+14%
to October 15, 2026
Held by institutions
96%
of shares
Held by insiders
4.3%
of shares
Employees
1,800
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −48.0%

$45.37 on October 31, 2025 to $23.58

ThenNowEffect
Revenue (last 12 months) $405m $471m +16.4%
P/S multiple 4.6x 2.5x −46.0%
Share count 41m 50m −17.3%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +65.7%

$14.23 on November 3, 2023 to $23.58

ThenNowEffect
Revenue (last 12 months) $329m $471m +43.4%
P/S multiple 1.7x 2.5x +42.6%
Share count 40m 50m −19.0%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
AORT−14%−40%+48%+60%+60%−48%
Industry peers (median)−7%−37%−9%−20%−16%−13%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
AORT33%42%67%50%50%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
AORT−46%−57%−30%−15%−30%−56%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 72% from September 25, 2018 to October 24, 2022. Getting back needed a 257% gain, reached on August 8, 2025, 1019 days after the low.

Price behaviour

52-week range
$20.10 – $47.63
From 52-week high
−50.5%
vs 50-day average
−0.8%
vs 200-day average
−19.5%
Volatility (1 year)
49%
Beta vs S&P 500
0.22

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±11.0%
After a week
7 up, 5 down
typical move ±12.9%
After a month
5 up, 7 down
typical move ±16.3%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 +3.6% +0.5% +8.6% −2.3%
May 7, 2026 −26.8% +0.5% −34.0% −41.3%
February 12, 2026 −8.7% −1.5% −4.4% −6.7%
November 6, 2025 −3.5% −1.0% −2.0% −5.2%
August 7, 2025 +26.9% +0.7% +33.1% +34.6%
May 5, 2025 +17.5% −1.4% +23.3% +22.8%
February 24, 2025 −9.6% −1.0% −11.1% −12.7%
November 7, 2024 −2.5% +1.2% −8.3% −1.5%
August 8, 2024 −1.2% +2.8% +0.4% −3.2%
May 6, 2024 +13.6% +1.1% +10.8% +12.0%
February 15, 2024 +7.1% +0.2% +15.4% +13.4%
November 2, 2023 +10.5% +2.8% +3.6% +40.5%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Artivion, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Artivion, Inc.
$300M $350M $400M $450M $500M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $339.7M Revenue (TTM), FY23 Q4: $354M Revenue (TTM), FY24 Q1: $368.2M Revenue (TTM), FY24 Q2: $377M Revenue (TTM), FY24 Q3: $384.9M Revenue (TTM), FY24 Q4: $388.5M Revenue (TTM), FY25 Q1: $390.1M Revenue (TTM), FY25 Q2: $405M Revenue (TTM), FY25 Q3: $422.6M Revenue (TTM), FY25 Q4: $441.3M Revenue (TTM), FY26 Q1: $458.7M Revenue (TTM), FY26 Q2: $471.5M $471.5M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $339.7M
FY23 Q4 $354M
FY24 Q1 $368.2M
FY24 Q2 $377M
FY24 Q3 $384.9M
FY24 Q4 $388.5M
FY25 Q1 $390.1M
FY25 Q2 $405M
FY25 Q3 $422.6M
FY25 Q4 $441.3M
FY26 Q1 $458.7M
FY26 Q2 $471.5M
Revenue growth, TTM YoY Artivion, Inc.
0% 5% 10% 15% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 8.3% Revenue growth, TTM YoY, FY23 Q4: 12.8% Revenue growth, TTM YoY, FY24 Q1: 15.1% Revenue growth, TTM YoY, FY24 Q2: 14.7% Revenue growth, TTM YoY, FY24 Q3: 13.3% Revenue growth, TTM YoY, FY24 Q4: 9.8% Revenue growth, TTM YoY, FY25 Q1: 5.9% Revenue growth, TTM YoY, FY25 Q2: 7.4% Revenue growth, TTM YoY, FY25 Q3: 9.8% Revenue growth, TTM YoY, FY25 Q4: 13.6% Revenue growth, TTM YoY, FY26 Q1: 17.6% Revenue growth, TTM YoY, FY26 Q2: 16.4% 16.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 8.3%
FY23 Q4 12.8%
FY24 Q1 15.1%
FY24 Q2 14.7%
FY24 Q3 13.3%
FY24 Q4 9.8%
FY25 Q1 5.9%
FY25 Q2 7.4%
FY25 Q3 9.8%
FY25 Q4 13.6%
FY26 Q1 17.6%
FY26 Q2 16.4%
Operating margin (TTM) Artivion, Inc.
0% 5% 10% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 2.0% Operating margin (TTM), FY23 Q4: 1.6% Operating margin (TTM), FY24 Q1: 9.5% Operating margin (TTM), FY24 Q2: 9.0% Operating margin (TTM), FY24 Q3: 10.2% Operating margin (TTM), FY24 Q4: 10.0% Operating margin (TTM), FY25 Q1: 4.0% Operating margin (TTM), FY25 Q2: 4.3% Operating margin (TTM), FY25 Q3: 6.1% Operating margin (TTM), FY25 Q4: 7.6% Operating margin (TTM), FY26 Q1: 8.2% Operating margin (TTM), FY26 Q2: 4.4% 4.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 2.0%
FY23 Q4 1.6%
FY24 Q1 9.5%
FY24 Q2 9.0%
FY24 Q3 10.2%
FY24 Q4 10.0%
FY25 Q1 4.0%
FY25 Q2 4.3%
FY25 Q3 6.1%
FY25 Q4 7.6%
FY26 Q1 8.2%
FY26 Q2 4.4%
FCF margin (TTM) Artivion, Inc.
-2% 0% 2% 4% 6% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -0.9% FCF margin (TTM), FY23 Q4: 2.6% FCF margin (TTM), FY24 Q1: 2.4% FCF margin (TTM), FY24 Q2: 2.1% FCF margin (TTM), FY24 Q3: 2.7% FCF margin (TTM), FY24 Q4: 2.8% FCF margin (TTM), FY25 Q1: -0.1% FCF margin (TTM), FY25 Q2: 1.9% FCF margin (TTM), FY25 Q3: 4.1% FCF margin (TTM), FY25 Q4: 0.2% FCF margin (TTM), FY26 Q1: 3.2% FCF margin (TTM), FY26 Q2: -1.9% -1.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -0.9%
FY23 Q4 2.6%
FY24 Q1 2.4%
FY24 Q2 2.1%
FY24 Q3 2.7%
FY24 Q4 2.8%
FY25 Q1 -0.1%
FY25 Q2 1.9%
FY25 Q3 4.1%
FY25 Q4 0.2%
FY26 Q1 3.2%
FY26 Q2 -1.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 112 117 120 132 141 145 146 180 190 263 276 253 299 314 354 389 441 471
Gross profit 70 68 76 85 90 91 91 119 129 173 183 168 198 203 229 249 284 304
EBITDA 19 14 17 18 20 15 11 30 18 27 35 23 32 29 29 63 56 45
Operating income 14 10 12 13 14 9 5 22 8 9 17 2 8 6 6 39 34 21
Net income 9 4 7 8 16 7 4 11 4 −3 2 −17 −15 −19 −31 −13 10 −3
Diluted EPS $0.30 $0.14 $0.26 $0.28 $0.57 $0.25 $0.14 $0.32 $0.11 −$0.08 $0.05 −$0.44 −$0.38 −$0.48 −$0.75 −$0.32 $0.21 −$0.06
Growth (year on year)
Revenue — +4.4% +2.6% +10.1% +6.9% +2.8% +0.9% +23.6% +5.2% +38.6% +5.1% −8.3% +18.0% +5.0% +12.8% +9.8% +13.6% +16.4%
EBITDA — −26.4% +20.3% +9.9% +7.8% −24.4% −24.5% +169.3% −41.3% +54.7% +29.0% −34.5% +38.6% −10.8% +0.6% +118.9% −10.9% +10.3%
Operating income — −31.9% +18.0% +8.3% +9.6% −36.0% −39.4% +307.5% −63.5% +16.8% +83.0% −85.7% — −23.6% — — −13.2% +17.4%
Net income — −54.6% +86.9% +7.8% +103.5% −54.7% −45.3% +169.1% −65.6% — — — — — — — — —
Diluted EPS — −53.3% +85.7% +7.7% +103.6% −56.1% −44.0% +128.6% −65.6% — — — — — — — — —
Margins
Gross margin 62.5% 58.6% 63.4% 64.5% 64.2% 63.1% 62.2% 65.9% 67.8% 65.8% 66.3% 66.3% 66.1% 64.5% 64.7% 64.0% 64.4% 64.4%
EBITDA margin 16.8% 11.8% 13.9% 13.9% 14.0% 10.3% 7.7% 16.7% 9.3% 10.4% 12.8% 9.1% 10.7% 9.1% 8.1% 16.2% 12.7% 9.6%
Operating margin 13.0% 8.5% 9.7% 9.6% 9.8% 6.1% 3.7% 12.1% 4.2% 3.5% 6.2% 1.0% 2.7% 2.0% 1.6% 10.0% 7.6% 4.4%
Net margin 7.8% 3.4% 6.2% 6.0% 11.5% 5.1% 2.7% 6.0% 2.0% −1.1% 0.6% −6.6% −5.0% −6.1% −8.7% −3.4% 2.2% −0.7%
Free-cash-flow margin 13.3% 16.0% 11.9% 12.1% 8.8% 2.6% 5.5% 7.5% 2.2% 1.6% 2.8% 2.0% −5.2% −5.1% 2.6% 2.8% 0.2% −1.9%
Cash flow
Cash from operations 17 21 17 19 17 8 11 20 11 10 16 12 −3 −5 19 22 40 42
Capital spending 2 2 3 3 4 4 3 6 7 6 8 7 13 11 10 11 39 51
Free cash flow 15 19 14 16 12 4 8 14 4 4 8 5 −16 −16 9 11 1 −9
Stock-based pay 2 3 3 3 3 3 5 6 7 6 9 7 11 12 14 14 24 27
Free cash flow after stock pay 12 16 11 13 9 0 3 7 −3 −2 −1 −2 −26 −28 −5 −3 −24 −36
Balance sheet
Cash 30 35 22 13 38 33 38 57 40 41 34 61 55 39 59 53 65 77
Total debt 0 0 0 0 0 0 0 74 229 226 223 300 318 315 312 320 220 370
Net debt (negative = net cash) −30 −35 −22 −13 −38 −33 −38 17 189 184 189 239 263 275 253 267 155 293
Diluted shares 28m 28m 28m 27m 28m 28m 29m 33m 34m 36m 38m 38m 39m 40m 41m 42m 47m 50m
Returned to shareholders
Dividends — — — 1 3 3 3 — — — — — — — — — — —
Buybacks 0 6 3 3 2 6 — — — — — — — — — — — —
Total returned 0 6 3 5 4 9 3 — — — — — — — — — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 7 checks passed · June 30, 2026
What it owns · $1.1bn
Short-term assets $371mLonger-term assets $701m
What it owes, and who funded it · $1.1bn
Short-term liabilities $107mLonger-term liabilities $519mShareholders' equity $446m
  • Short-term assets cover short-term liabilities $371m of assets due within a year against $107m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $371m short-term assets against $519m of longer-dated liabilities.
  • More cash than debt $77m of cash against $363m of debt.
  • Debt below 40% of shareholders' equity Debt is 82% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 102% to 82% over five years.
  • A year's operating cash flow covers at least 20% of debt $42m of operating cash flow against $363m of debt.
  • Operating profit covers interest at least five times over Operating income of $21m against $24m of interest.

From Artivion, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+21.0%
year over year
R&D spending
7.4%
of revenue
Sales & admin spending
54.0%
of revenue
Days sales outstanding
76 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in health care equipment
Last 12 months unless stated AORT ARAY ATRC BVS INMD TCMD Median
Revenue, last 12 months $471m $402m $570m $586m $370m $356m $99m
Revenue growth, last 12 months 16.4% −12.3% 13.9% 3.9% −6.2% 14.4% 9.2%
Revenue growth, 3-year average 12.8% −3.5% 15.9% 5.2% — 9.6% 13.5%
Revenue growth, latest quarter 11.3% −20.9% 12.8% 2.7% — 7.1% 10.2%
Gross margin 64.4% 27.6% 76.3% 68.7% 78.5% 77.0% 61.2%
Operating margin 4.4% −6.6% 2.3% 9.7% 23.0% 9.4% −8.5%
Operating margin, 3-year average 5.9% −1.6% −4.2% 4.4% 28.9% 8.1% −17.9%
Net margin −0.7% −12.2% 1.9% 9.8% 25.3% 6.7% −12.0%
Cash from operations / revenue 8.8% −1.7% 11.4% 14.9% 23.0% 9.0% −1.9%
Free-cash-flow margin −1.9% −3.2% 9.3% 14.5% 22.7% 8.1% −3.9%
Free-cash-flow margin, 3-year average 0.7% −2.3% 3.3% 9.7% 32.8% 11.6% −7.0%
Stock pay / revenue 5.7% 1.6% 8.3% 2.8% 3.0% 2.5% 6.1%
Change in share count 21.0% 4.9% 2.4% 6.2% −18.8% −1.7% 4.0%

Median of all 134 companies we cover in health care equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

134 health care equipment companies
Measure Company Peer median Rank
Revenue growth Growth 16.4% 9.1% 43 of 129
Change in growth rate Growth -1.2pp -0.6pp 78 of 129
Gross margin Profitability 64.4% 61.9% 54 of 123
Operating margin Profitability 4.4% -8.3% 40 of 132
Net margin Profitability -0.7% -12.0% 46 of 133
Free-cash-flow margin Cash generation -1.9% -3.4% 57 of 128
Stock pay as % of revenue Cash generation 5.7% 6.1% 60 of 123
Long-term debt as % of assets Balance sheet 33.9% 24.2% 64 of 87
Change in share count Balance sheet 21.0% 3.3% 92 of 115
Days sales outstanding Balance sheet 76 days 57 days 91 of 118

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue YoY
Medical Devices $346M ▲ 19.2%
North America $222M ▲ 12.0%
Europe The Middle East and Africa Segments $151M ▲ 15.1%
Preservation Services $95.5M ▼ 2.9%
Asia Pacific $44.3M ▲ 18.9%
Latin America $24M ▲ 9.6%

These categories overlap or exclude eliminations, so shares aren't shown.

Products and services
Line of business Revenue Share YoY
Products $346M 78.4% ▲ 19.2%
Aortic Stent Grafts $159M 46.1% ▲ 29.5%
On X $102M 29.4% ▲ 21.1%
Surgical Sealants $76.6M 22.2% ▲ 3.7%
Other Products $8.1M 2.3% ▼ 12.5%
Preservation Services $95.5M 21.6% ▼ 2.9%
Geography
Region Revenue Share YoY
Outside the US $227M 51.5% ▲ 14.5%
United States $214M 48.5% ▲ 12.7%

From Artivion, Inc.'s 10-K filed February 18, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$1B
Institutions reporting
204
Shares held vs prior quarter
▲ 4.2%
Positions opened / closed
33 / 66

Top buyers and sellers, Q2 2026: 116 institutions bought and 124 sold ; the biggest buyer was Ophir Asset Management Pty Ltd (+849K shares) and the biggest seller Next Century Growth Investors LLC (−1.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $150M 6.7M 14.4% ▲ 3.1%
Nomura Asset Management International Inc. $71.6M 3.2M 6.9% ▲ 29.7%
Morgan Stanley $57.5M 2.6M 5.5% ▲ 12.7%
Juniper Investment Company, LLC $45.4M 2.0M 4.4% ▲ 69.9%
Vanguard Capital Management LLC $45M 2.0M 4.3% ▲ 2.7%
FMR LLC $44.1M 2.0M 4.2% ▼ 24.0%
State Street Corp $41.8M 1.9M 4.0% ▲ 10.4%
Ophir Asset Management Pty Ltd $40.4M 1.8M 3.9% ▲ 89.3%
Perceptive Advisors LLC $39M 1.7M 3.7% ▲ 6.1%
Conestoga Capital Advisors, LLC $36.5M 1.6M 3.5% ▲ 38.1%
Wellington Management Group LLP $28.3M 1.3M 2.7% ▲ 9.0%
Geode Capital Management, LLC $25M 1.1M 2.4% ▼ 1.6%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Artivion, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $20.7M 64 trades by 8 insiders · 24% under pre-set plans
Net ▼ $20.7M net selling
Insider Date Trade Shares Price Value
Green Andrew M SVP, Regulatory and Quality September 10, 2026 Sell 11,480 $24.97 $286,656
Green Andrew M SVP, Regulatory and Quality September 3, 2026 Sell 1,493 $26.02 $38,848
Green Andrew M SVP, Regulatory and Quality September 2, 2026 Sell 6,510 $27.27 $177,528
Mackin James P President & CEO August 19, 2026 Sell 70,000 $28.96 $2M
Berry Lance A EVP, COO, CFO & Treasurer August 14, 2026 Sell 715 $28.55 $20,413
Green Andrew M SVP, Regulatory and Quality August 14, 2026 Sell 616 $28.55 $17,587
Holloway Jean F SVP, General Counsel August 12, 2026 Sell 977 $28.49 $27,835
Green Andrew M SVP, Regulatory and Quality June 11, 2026 Sell pre-set plan 14,001 $20.71 $289,961
Green Andrew M SVP, Regulatory and Quality June 11, 2026 Sell pre-set plan 30,000 $20.69 $620,700
Holloway Jean F SVP, General Counsel March 4, 2026 Sell 8,962 $38.00 $340,556
Mackin James P President & CEO March 3, 2026 Sell 17,887 $37.78 $675,771
Berry Lance A EVP, COO, CFO & Treasurer March 3, 2026 Sell 6,316 $37.78 $238,618

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 5 trades and filings

In the last 12 months, 1 member of Congress disclosed 2 purchases and 0 sales of Artivion, Inc. shares.

  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded August 20, 2026, filed September 10, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded July 16, 2026, filed September 4, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (partial), $1,001 - $15,000, traded October 9, 2025, filed November 18, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • February 12, 2026
  • November 6, 2025
  • August 7, 2025
  • May 5, 2025

Recent SEC filings

Data status

When each part of this page on Artivion, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Artivion, Inc. in brief

What does Artivion, Inc. do?
Artivion, Inc. is a US-listed company in the health care equipment industry. Its financial year ends in December.
What is Artivion, Inc.'s stock ticker?
Artivion, Inc. trades under the ticker AORT on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Artivion, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Artivion, Inc. reported revenue of $471M, 16.4% higher than a year earlier, according to its SEC filings.
What is Artivion, Inc.'s free cash flow?
Artivion, Inc.'s free-cash-flow margin is -1.9% of revenue over the trailing twelve months, ranking 57 of the 128 health care equipment companies we cover.
Who are Artivion, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Nomura Asset Management International Inc. and Morgan Stanley. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Artivion, Inc.'s market cap?
On November 2, 2026, Artivion, Inc.'s market capitalisation was about $1.2B and net debt of $293M. Market figures come from third-party market data and may be delayed.
How much debt does Artivion, Inc. have?
Artivion, Inc.'s debt-to-equity ratio is 81.6%, from its latest balance sheet (102.2% five years earlier). The financial health section below sets out its other solvency checks.
Who are Artivion, Inc.'s competitors?
In our Health Care Equipment peer group, the companies closest to Artivion, Inc. are Accuray Inc, Atricure, Inc., Bioventus Inc., Inmode Ltd. and Tactile Systems Technology Inc. The side-by-side comparison below sets their revenue, margins and growth against Artivion, Inc.'s.
Are insiders buying or selling Artivion, Inc. stock?
Over the last 12 months, Artivion, Inc.'s directors and officers reported 0 open-market purchases and 64 sales on Form 4. The insider trading page charts every trade.
When is Artivion, Inc.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Artivion, Inc. announces its own schedule.