Artivion
AORTNYSEUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $20.47 Prior regular-session close from the quote source.
- $20.05–$20.73 Regular-session low and high so far today.
- 646.2K Regular-session shares traded · Nov 11, 4:00 PM ET.
- Feb 11 projected Projected for 2027-02-11 from the company’s own results filings (SEC 8-K Item 2.02). The company has not confirmed the date.
- $19.16–$48.25 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own AORT if its specialized aortic-surgery devices and implantable tissues remain surgeon-critical enough to keep growing while scale finally converts that growth into cash and GAAP earnings.
AORT price history
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Investment thesis
What must happen next
Surgeon and hospital reliance on Artivion’s specialized aortic-surgery devices and implantable tissues continues to convert aortic-disease procedure demand into company revenue.StrengtheningMateriality: High
GAAP annual revenue increased from $313.8 million in FY2022 to $354.0 million in FY2023, $388.5 million in FY2024, and $441.3 million in FY2025. If this holds, Artivion remains a growth medical-technology business; if it breaks, the rest of the margin and cash-flow thesis loses its demand base.
Watch: Medtronic, Terumo Aortic, W. L. Gore, Edwards Lifesciences, or another competitor gains surgeon preference or hospital-contract share in aortic repair.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual revenue increased from $313.8 million in FY2022 to $354.0 million in FY2023, $388.5 million in FY2024, and $441.3.
Open source ↗Artivion’s differentiated role in critical aortic implants and human-tissue processing preserves pricing and mix enough to keep gross profit expanding as revenue grows.StrengtheningMateriality: High
GAAP annual gross profit increased from $202.5 million in FY2022 to $229.2 million in FY2023, $248.8 million in FY2024, and $284.2 million in FY2025. Gross profit is the pool from which R&D, sales investment, regulatory compliance, debt service, and shareholder value must be funded.
Watch: Hospital purchasing groups force price concessions on aortic surgical products or tissue implants.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual gross profit increased from $202.5 million in FY2022 to $229.2 million in FY2023, $248.8 million in FY2024, and.
Open source ↗The fixed infrastructure needed to sell, manufacture, process, and regulate cardiac and vascular implants becomes more productive as Artivion scales, allowing growth to translate into higher operating profit rather than being absorbed by expenses.HoldingMateriality: Medium
GAAP annual operating income improved from $6.2 million in FY2022 and $5.7 million in FY2023 to $38.9 million in FY2024. This is the bridge from an attractive niche medical-technology revenue story to real equity value creation.
Watch: Salesforce expansion, clinical education, R&D, or regulatory spending continues to rise faster than product gross profit.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating income improved from $6.2 million in FY2022 and $5.7 million in FY2023 to $38.9 million in FY2024.
Open source ↗Recurring procedure-driven demand and high gross profit increasingly convert into operating cash flow, giving Artivion internal funding for innovation, capacity, and balance-sheet improvement.StrengtheningMateriality: Medium
GAAP annual operating cash flow improved from negative $5.2 million in FY2022 to positive $18.8 million in FY2023, $22.2 million in FY2024, and $39.9 million in FY2025. If cash conversion holds, the business can compound with less dependence on external capital; if it fails, growth may require dilution or leverage.
Watch: Inventory builds, receivable delays, or hospital payment pressure consume cash as revenue grows.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating cash flow improved from negative $5.2 million in FY2022 to positive $18.8 million in FY2023, $22.2 million.
Open source ↗Management continues using improving profitability and cash generation to reduce financial risk, preserving flexibility in a regulated niche where quality, R&D, and supply reliability require investment.StrengtheningMateriality: Medium
Total liabilities declined from $512.9 million at FY2024 year-end to $436.6 million at FY2025 year-end. Lower balance-sheet pressure increases the value of future growth to common shareholders and reduces the risk that a setback forces unfavorable financing.
Watch: Artivion takes on material acquisition debt or refinancing risk before operating cash flow is large enough to support it.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Total liabilities declined from $512.9 million at FY2024 year-end to $436.6 million at FY2025 year-end.
Open source ↗
Full investment case & evidence
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Original research
Surgeon and hospital reliance on Artivion’s specialized aortic-surgery devices and implantable tissues continues to convert aortic-disease procedure demand into company revenue. If this holds, Artivion remains a growth medical-technology business; if it breaks, the rest of the margin and cash-flow thesis loses its demand base.
Artivion’s differentiated role in critical aortic implants and human-tissue processing preserves pricing and mix enough to keep gross profit expanding as revenue grows. Gross profit is the pool from which R&D, sales investment, regulatory compliance, debt service, and shareholder value must be funded.
The fixed infrastructure needed to sell, manufacture, process, and regulate cardiac and vascular implants becomes more productive as Artivion scales, allowing growth to translate into higher operating profit rather than being absorbed by expenses. This is the bridge from an attractive niche medical-technology revenue story to real equity value creation.
Recurring procedure-driven demand and high gross profit increasingly convert into operating cash flow, giving Artivion internal funding for innovation, capacity, and balance-sheet improvement. If cash conversion holds, the business can compound with less dependence on external capital; if it fails, growth may require dilution or leverage.
Management continues using improving profitability and cash generation to reduce financial risk, preserving flexibility in a regulated niche where quality, R&D, and supply reliability require investment. Lower balance-sheet pressure increases the value of future growth to common shareholders and reduces the risk that a setback forces unfavorable financing.
All standing thesis claims
Original report summary
its specialized aortic-surgery devices and implantable tissues remain surgeon-critical enough to keep growing while scale finally converts that growth into cash and GAAP earnings.
Bull case and bear case
Bull case and bear case for Artivion
Where the evidence on Artivion stands: Holding on the latest evidence (Nov 9, 2026). Of its 5 thesis points, 4 strengthening and 1 holding.
Bull case: what the evidence supports
Surgeon and hospital reliance on Artivion’s specialized aortic-surgery devices and implantable tissues continues to convert aortic-disease procedure demand into company revenue.
Artivion’s differentiated role in critical aortic implants and human-tissue processing preserves pricing and mix enough to keep gross profit expanding as revenue grows.
The fixed infrastructure needed to sell, manufacture, process, and regulate cardiac and vascular implants becomes more productive as Artivion scales, allowing growth to translate into higher operating profit rather than being absorbed by expenses.
Recurring procedure-driven demand and high gross profit increasingly convert into operating cash flow, giving Artivion internal funding for innovation, capacity, and balance-sheet improvement.
Management continues using improving profitability and cash generation to reduce financial risk, preserving flexibility in a regulated niche where quality, R&D, and supply reliability require investment.
Bear case: what would count against it
Medtronic, Terumo Aortic, W. L. Gore, Edwards Lifesciences, or another competitor gains surgeon preference or hospital-contract share in aortic repair.
Hospital purchasing groups force price concessions on aortic surgical products or tissue implants.
Salesforce expansion, clinical education, R&D, or regulatory spending continues to rise faster than product gross profit.
Thesis-Break Engine
Thesis-break watch · Artivion
No break has crossed Artivion’s thesis. Its break conditions are checked against every new filing as it lands.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedReported results of operations (earnings release).
Artivion filed an SEC 8-K on 2026-11-05: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
Artivion filed an SEC 8-K on 2026-08-06: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedRegulation FD disclosure.
Artivion filed an SEC 8-K on 2026-05-18: Regulation FD disclosure. It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Medtronic, Terumo Aortic, W. L. Gore, Edwards Lifesciences, or another competitor gains surgeon preference or hospital-contract share in aortic repair.
- Hospital purchasing groups force price concessions on aortic surgical products or tissue implants.
- Salesforce expansion, clinical education, R&D, or regulatory spending continues to rise faster than product gross profit.
- Inventory builds, receivable delays, or hospital payment pressure consume cash as revenue grows.
- Artivion takes on material acquisition debt or refinancing risk before operating cash flow is large enough to support it.
AORT news
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Financial statements
AORT income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
AORT: quick answers
- When does Artivion (AORT) report earnings next?
- Artivion's next results are projected for February 11, 2027, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on November 5, 2026. Earnings calendar
- What is AORT's short interest?
- As of October 30, 2026, 3.4M AORT shares were sold short, 6.99% of its shares outstanding, down 8.6% from the count before. At the stock's average daily volume that is 7.2 days to cover. FINRA publishes the count twice a month. AORT short interest history
- Have members of Congress traded AORT?
- Reports made public in the last 90 days disclose 3 trades in AORT by 2 filers: 2 purchases and 1 sale. They are filed under the STOCK Act by members of Congress, the President and senior officials. Every disclosed AORT trade
