Artivion (AORT) FY2018 results: revenue $263 million, up 38.6% on the year
Artivion, Inc. (AORT) reported revenue of $263 million for fiscal 2018, the year ended 31 December 2018, up 38.6% on the year before. Net income was -$3 million, and diluted earnings per share $-0.08. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$263 million
+38.6% on the year
FY2011FY2018
Operating margin
3.5%
4.2% a year earlier
FY2011FY2018
Net income
-$3 million
FY2011FY2018
Diluted EPS
-$0.08
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
263
190
180
+38.6%
Cost of revenue
89.9
61.1
61.5
+47.2%
Gross profit
173
129
119
+34.5%
Gross margin
65.8%
67.8%
65.9%
Research and development
23.1
19.5
13.4
+18.7%
Selling, general and administrative
141
101
91.5
+38.9%
Operating income
9.3
8.0
21.8
+16.8%
Operating margin
3.5%
4.2%
12.1%
Interest expense
15.8
4.9
3.0
+222.4%
Pre-tax income
-6.4
3.6
18.4
Income tax
-3.6
-0.1
7.6
Effective tax rate
n/a
-4.0%
41.5%
Net income
-2.8
3.7
10.8
Net margin
-1.1%
2.0%
6.0%
Diluted EPS
-$0.08
$0.11
$0.32
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
9.9
10.8
19.7
-8.5%
Capital expenditure
5.8
6.6
6.2
-12.8%
Free cash flow
4.1
4.2
13.5
-1.8%
Free cash flow margin
1.6%
2.2%
7.5%
Cash from investing
-6.7
-171
-78.9
Cash from financing
-2.6
143
73.4
Depreciation and amortisation
18.1
9.7
8.4
+85.7%
Share-based compensation
6.3
6.9
6.3
-8.6%
Dividend per share
$0.00
$0.00
$0.00
Diluted shares, weighted
36m
34m
33m
+6.6%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
275
277
209
-0.7%
Debt
217
219
71.6
-0.9%
Operating lease liabilities
0.0
n/a
n/a
Finance lease liabilities
5.9
n/a
n/a
Other liabilities
73.2
93.7
35.6
-21.9%
Total liabilities and equity
571
590
316
-3.2%
Fixed assets
31.0
33.6
18.5
-7.6%
Goodwill
189
188
78.3
+0.3%
Intangible assets
118
130
1.0
-9.3%
Cash and equivalents
41.5
40.0
56.6
+3.8%
Receivables
47.1
47.5
27.8
-0.9%
Inventory
45.5
46.7
26.3
-2.6%
Other assets
99.0
103
108
-4.1%
Total assets
571
590
316
-3.2%
10-K for the year ended 31 December 2018, filed 26 February 2019: the filing.