ARTIVION, INC.
For the period ended Dec 31, 2025. Filed Feb 18, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 18, 2026
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, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Net cash flows from operating activities: | |||
| Net income (loss) | $9,768 | $(13,359) | $(30,690) |
| Adjustments to reconcile net income (loss) to net cash from operating activities: | |||
| Depreciation and amortization | 22,458 | 24,205 | 23,076 |
| Non-cash compensation | 24,385 | 14,242 | 14,422 |
| Non-cash lease expense | 5,170 | 4,915 | 4,541 |
| Write-down of inventories and deferred preservation costs | 4,900 | 4,434 | 4,785 |
| Non-cash interest expense | 1,705 | 3,866 | 1,858 |
| Deferred income taxes | 37 | (1,511) | (1,385) |
| Change in fair value of contingent consideration | 7,700 | (11,010) | 23,490 |
| Endospan fair value adjustments | (2,337) | 4,329 | 5,000 |
| Losses on inducement/extinguishment of debt | 2,664 | 3,669 | — |
| Gain on sale of non-financial assets | (7,000) | — | (14,250) |
| Other | (7,409) | 5,699 | 1,358 |
| Changes in operating assets and liabilities: | |||
| Receivables | (7,269) | (15,395) | (4,050) |
| Inventories and deferred preservation costs | (15,277) | (6,137) | (14,360) |
| Prepaid expenses and other assets | (1,798) | (5,209) | 535 |
| Accounts payable, accrued expenses, and other liabilities | 2,183 | 9,498 | 4,495 |
| Net cash flows provided by operating activities | 39,880 | 22,236 | 18,825 |
| Net cash flows from investing activities: | |||
| Capital expenditures | (39,041) | (11,188) | (9,752) |
| Payments under Endospan agreements | (8,000) | (17,000) | (5,000) |
| Proceeds from sale of non-financial assets, net | 5,000 | — | 14,250 |
| Net cash flows used in investing activities | (42,041) | (28,188) | (502) |
| 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 | (210) | (211,831) | (2,772) |
| Proceeds from exercise of stock options and issuance of common stock | 13,074 | 5,728 | 3,955 |
| Payment of debt issuance costs | (1,750) | (2,544) | (249) |
| Proceeds from financing insurance premiums | 3,117 | — | 3,558 |
| Principal payments on short-term notes payable | (2,250) | (1,027) | (2,531) |
| Redemption and repurchase of stock to cover tax withholdings | — | — | (559) |
| Other | (699) | (623) | (537) |
| Net cash flows provided by financing activities | 11,282 | 2,203 | 865 |
| Effect of exchange rate changes on cash and cash equivalents | 2,324 | (1,728) | 401 |
| Increase (decrease) in cash and cash equivalents | 11,445 | (5,477) | 19,589 |
| Cash and cash equivalents, beginning of year | 53,463 | 58,940 | 39,351 |
| Cash and cash equivalents, end of year | $64,908 | $53,463 | $58,940 |
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