ARTIVION INC
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
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FY2024 · Filed Feb 28, 2025
AORT$20.47-0.8%Stored close · as of Nov 10, 2026
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Item 8. CONSOLIDATED STATEMENTS OF CASH FLOWS
Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Net cash flows from operating activities: | |||
| Net loss | $(13,359) | $(30,690) | $(19,192) |
| Adjustments to reconcile net loss to net cash from operating activities: | |||
| Depreciation and amortization | 24,205 | 23,076 | 22,442 |
| Non-cash compensation | 14,242 | 14,422 | 12,344 |
| Non-cash lease expense | 4,915 | 4,541 | 4,666 |
| Write-down of inventories and deferred preservation costs | 4,434 | 4,785 | 4,374 |
| Non-cash interest expense | 3,866 | 1,858 | 1,832 |
| Deferred income taxes | (1,511) | (1,385) | (1,717) |
| Change in fair value of contingent consideration | (11,010) | 23,490 | (9,000) |
| Endospan fair value adjustments | 4,329 | 5,000 | — |
| Loss on extinguishment of debt | 3,669 | — | — |
| Gain on sale of non-financial assets | — | (14,250) | — |
| Other | 5,699 | 1,358 | 2,268 |
| Changes in operating assets and liabilities: | |||
| Receivables | (15,395) | (4,050) | (13,340) |
| Inventories and deferred preservation costs | (6,137) | (14,360) | (8,404) |
| Prepaid expenses and other assets | (5,209) | 535 | (2,234) |
| Accounts payable, accrued expenses, and other liabilities | 9,498 | 4,495 | 808 |
| Net cash flows provided by (used in) operating activities | 22,236 | 18,825 | (5,153) |
| Net cash flows from investing activities: | |||
| Capital expenditures | (11,188) | (9,752) | (10,715) |
| Payments under Endospan agreements | (17,000) | (5,000) | — |
| Proceeds from sale of non-financial assets, net | — | 14,250 | — |
| Net cash flows used in investing activities | (28,188) | (502) | (10,715) |
| Net cash flows from financing activities: | |||
| Proceeds from issuance of long-term debt | 184,000 | — | — |
| Proceeds from revolving credit facility | 28,500 | — | — |
| Repayment of debt | (211,831) | (2,772) | (2,753) |
| Proceeds from exercise of stock options and issuance of common stock | 5,728 | 3,955 | 3,368 |
| Payment of debt issuance costs | (2,544) | (249) | — |
| Proceeds from financing insurance premiums | — | 3,558 | — |
| Principal payments on short-term notes payable | (1,027) | (2,531) | — |
| Redemption and repurchase of stock to cover tax withholdings | — | (559) | (1,795) |
| Other | (623) | (537) | (459) |
| Net cash flows provided by (used in) financing activities | 2,203 | 865 | (1,639) |
| Effect of exchange rate changes on cash and cash equivalents | (1,728) | 401 | 1,848 |
| (Decrease) increase in cash and cash equivalents | (5,477) | 19,589 | (15,659) |
| Cash and cash equivalents, beginning of year | 58,940 | 39,351 | 55,010 |
| Cash and cash equivalents, end of year | $53,463 | $58,940 | $39,351 |
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