Short answer
ARTIVION, INC. (AORT) filed its fiscal 2025 10-K annual report with the SEC on Feb 18, 2026. It reported revenue of $441M (+13.6% year over year) and net income of $10M.
- Top risk flagged: Regulatory risk: Italian medical device overpayment repayment exposure $2.3M for 2019–2025 period under Ministerial Decree, potential further government assessment
FY2025 key financial metrics · XBRL
- Revenue
- $441M
- +13.6% YoY
- Net income
- $10M
- +173.1% YoY
- Operating margin
- 7.6%
- −2.4 pp YoY
- Gross margin
- 64.4%
- +0.4 pp YoY
- EPS (diluted)
- $0.21
- +165.6% YoY
- ROE
- 2.2%
- +7.0 pp YoY
- Operating cash flow
- $40M
- +79.3% YoY
Source: XBRL data from the ARTIVION, INC. (AORT) FY2025 10-K on SEC EDGAR. USD.
ARTIVION, INC. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Manufacturer and distributor of medical devices and implantable human tissues for cardiac and vascular surgery, focusing on aortic disease treatment
- New product launch: Arcevo™ LSA Hybrid Stent Graft System introduced in EMEA and APAC in 2025, with US PMA trial ongoing, plus PerClot® hemostatic powder manufacturing started Q2 2023
- Strategic shift: Expanded global reach with new international markets including China and Brazil, enhanced pipeline with next-generation devices like Arcevo LSA and NEO EDE custom version
- Quantitative metric: FDA granted humanitarian device exemption for AMDS hybrid prosthesis in Dec 2024 enabling limited US commercial distribution before full PMA approval expected in 2026
- Noteworthy fact: CMS created a new unique DRG procedure code for AMDS effective Oct 1, 2025, reflecting recognition of its distinct hospital resource use for complex aortic arch repair
Management Discussion & Analysis
- Revenue $441.3M in 2025, up 14% YoY from $388.5M in 2024; constant currency increase 13%
- Gross margin 64% in 2025, flat YoY despite 14% gross margin dollar growth to $284.2M
- Best segment: Aortic stent grafts $159.4M +29% YoY; Worst: Preservation services $95.5M -3% YoY
- Operating expenses increased 25% to $226.5M driven by sales/marketing and cybersecurity costs; R&D up 9% to $31.0M
- Cash & equivalents $64.9M at year-end; $220M nominal debt outstanding; no specific buyback or dividend data given
- Management notes ongoing seasonality, cybersecurity incident impacts in 2024; AMDS product commercial launch in US anticipated in 2026
Risk Factors
- Regulatory risk: Italian medical device overpayment repayment exposure $2.3M for 2019–2025 period under Ministerial Decree, potential further government assessment
- Geopolitical risk: NEXUS products solely made in Israel amid Middle East conflicts, risking supply disruption from war, sanctions, or export controls
- Operational risk: Single-source suppliers for BioGlue components and On-X grafts could halt manufacturing if suppliers face issues, risking product availability
- Competitive risk: Facing competition from Baxter, J&J’s Ethicon, Medtronic, Abbott with greater resources and stronger regulatory approval track records
- Financial risk: Acquisition-related impairments including Endospan loan and option write-downs affecting market value and risking future goodwill impairments
Generated from the filing text; verify against the original. How to read a 10-K
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.