Artivion (AORT) FY2020 results: revenue $253 million, down 8.3% on the year
Artivion, Inc. (AORT) reported revenue of $253 million for fiscal 2020, the year ended 31 December 2020, down 8.3% on the year before. Net income was -$17 million, and diluted earnings per share $-0.44. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2021.
Revenue
$253 million
-8.3% on the year
FY2013FY2020
Operating margin
1.0%
6.2% a year earlier
FY2013FY2020
Net income
-$17 million
FY2013FY2020
Diluted EPS
-$0.44
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
253
276
263
-8.3%
Cost of revenue
85.4
93.2
89.9
-8.3%
Gross profit
168
183
173
-8.3%
Gross margin
66.3%
66.3%
65.8%
Research and development
24.2
23.0
23.1
+5.4%
Selling, general and administrative
141
143
141
-1.3%
Operating income
2.4
17.0
9.3
-85.7%
Operating margin
1.0%
6.2%
3.5%
Interest expense
16.7
14.9
15.8
+12.1%
Pre-tax income
-17.2
1.6
-6.4
Income tax
-0.5
-0.1
-3.6
Effective tax rate
n/a
-4.6%
n/a
Net income
-16.7
1.7
-2.8
Net margin
-6.6%
0.6%
-1.1%
Diluted EPS
-$0.44
$0.05
-$0.08
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
12.4
15.8
9.9
-21.8%
Capital expenditure
7.3
8.1
5.8
-9.2%
Free cash flow
5.0
7.8
4.1
-35.0%
Free cash flow margin
2.0%
2.8%
1.6%
Cash from investing
-73.1
-23.9
-6.7
Cash from financing
93.6
-1.5
-2.6
Depreciation and amortisation
20.7
18.3
18.1
+13.1%
Share-based compensation
6.9
8.8
6.3
-21.4%
Dividend per share
n/a
$0.00
$0.00
Diluted shares, weighted
38m
38m
36m
+0.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
329
286
275
+15.1%
Debt
292
216
217
+35.2%
Operating lease liabilities
14.0
17.9
0.0
-21.7%
Finance lease liabilities
5.3
5.4
5.9
-2.1%
Other liabilities
150
80.9
73.2
+85.1%
Total liabilities and equity
789
606
571
+30.3%
Fixed assets
33.1
32.1
31.0
+2.9%
Goodwill
260
187
189
+39.3%
Intangible assets
186
115
118
+61.2%
Cash and equivalents
61.4
33.8
41.5
+81.9%
Receivables
46.0
52.9
47.1
-13.2%
Inventory
73.0
53.1
45.5
+37.6%
Other assets
130
132
99.0
-1.4%
Total assets
789
606
571
+30.3%
10-K for the year ended 31 December 2020, filed 23 February 2021: the filing.