Artivion (AORT) Q2 FY2026 earnings: revenue $126 million, up 11.3% on the year

Artivion, Inc. (AORT) reported revenue of $126 million for Q2 FY2026, the quarter ended 30 June 2026, up 11.3% on the same quarter a year earlier. Net income was -$14 million, and diluted earnings per share $-0.28. The figures are the company's own, from the 10-Q it filed with the SEC on 7 August 2026.

Revenue$126 millionup 11.3%

Net income-$14 million

Diluted EPS$-0.28

QuarterQ2 FY2026ended 30 June 2026

What management said

Guidance figures: 1 lowered, 2 kept.

Q2 2026 revenue grew 9% constant currency: Total Q2 revenue reached $125.8 million versus $113.0 million in Q2 2025, up 11% on a GAAP basis and 9% on a constant currency basis, driven primarily by On-X and stent grafts.
On-X revenue accelerated to 18% growth: On-X revenues grew 18% on a constant currency basis in Q2 to $30.5 million from $25.6 million in Q2 2025, continuing to gain share from both mechanical and bioprosthetic valves.
Stent graft revenue showed acceleration: Aortic stent graft revenues grew 12% on a constant currency basis to $46.4 million from $39.8 million, with acceleration noted including contribution from AMDS products.

Read the earnings call summary

The quarter, against the one before and a year earlier

Line	Q2 FY2026	Q1 FY2026	Q2 FY2025	Change on the year
Revenue	126	116	113	+11.3%
Cost of revenue	45.2	40.9	39.9	+13.5%
Gross profit	80.5	75.4	73.1	+10.1%
Gross margin	64.0%	64.9%	64.7%
Research and development	9.1	8.8	7.1	+28.2%
Selling, general and administrative	79.8	60.8	57.7	+38.4%
Operating income	-8.4	5.8	8.4	n/a
Operating margin	-6.7%	5.0%	7.4%
Interest expense	7.3	5.4	7.3	-0.2%
Pre-tax income	-11.7	0.3	3.5	n/a
Income tax	1.8	-1.1	2.1	-15.3%
Effective tax rate	n/a	-318.0%	61.4%
Net income	-13.5	1.4	1.3	n/a
Net margin	-10.7%	1.2%	1.2%
Diluted EPS	-$0.28	$0.03	$0.03	n/a

$ million except per share.

Free 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 and capital returned

Line	Q2 FY2026	Q1 FY2026	Q2 FY2025	Change on the year
Operating cash flow	-1.3	1.2	15.0	n/a
Capital expenditure	10.7	8.0	3.3	+227.0%
Free cash flow	-12.0	-6.8	11.7	n/a
Free cash flow margin	-9.6%	-5.9%	10.4%
Cash from investing	-129	-10.5	-3.3	n/a
Cash from financing	152	0.5	2.6	+5765.6%
Depreciation and amortisation	6.7	6.3	5.5	+21.8%
Share-based compensation	8.2	8.4	6.1	+33.4%
Diluted shares, weighted	49m	50m	45m	+7.0%
Shares outstanding at period end	49m	49m	47m	+3.3%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q2 FY2026	Q1 FY2026	Q2 FY2025	Change on the year
Shareholders' equity	446	450	420	+6.1%
Debt	363	215	216	+68.6%
Operating lease liabilities	35.8	34.2	39.4	-9.1%
Finance lease liabilities	2.8	3.0	3.1	-8.3%
Other liabilities	224	180	160	+39.8%
Total liabilities and equity	1,072	883	838	+27.9%
Fixed assets	73.7	67.7	40.1	+83.9%
Goodwill	350	252	254	+37.8%
Intangible assets	149	120	129	+15.5%
Cash and equivalents	77.3	55.8	53.5	+44.6%
Receivables	97.9	91.9	91.4	+7.1%
Inventory	103	98.0	86.7	+19.2%
Other assets	220	198	184	+20.1%
Total assets	1,072	883	838	+27.9%

Questions

What was Artivion's revenue in Q2 FY2026?

Artivion (AORT) reported revenue of $126 million for Q2 FY2026, the quarter ended 30 June 2026, up 11.3% on the same quarter a year earlier.

How much did Artivion earn in Q2 FY2026?

Net loss for Q2 FY2026 was $14 million, and the diluted loss per share $0.28.

When did Artivion report Q2 FY2026 results?

Artivion filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 7 August 2026.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	87.9	93.7	97.4	98.0	95.8	97.3	99.0	113	113	116	116	126
Cost of revenue	31.6	32.6	34.5	34.7	34.8	35.8	35.4	39.9	39.0	42.8	40.9	45.2
Gross profit	56.3	61.1	62.9	63.3	61.0	61.5	63.6	73.1	74.4	73.1	75.4	80.5
Gross margin	64%	65%	65%	65%	64%	63%	64%	65%	66%	63%	65%	64%
R&D	6.4	7.6	6.9	7.5	6.6	7.4	6.7	7.1	8.1	9.1	8.8	9.1
SG&A	51.1	50.3	30.7	49.3	50.0	51.4	54.7	57.7	57.3	56.8	60.8	79.8
Operating income	-1.2	3.2	25.3	6.5	4.4	2.7	2.1	8.4	12.5	10.7	5.8	-8.4
Operating margin	-1%	3%	26%	7%	5%	3%	2%	7%	11%	9%	5%	-7%
Interest expense	6.6	6.2	7.8	8.3	8.4	9.7	7.7	7.3	6.1	5.5	5.4	7.3
Pre-tax income	-9.4	-0.6	12.8	-2.4	-1.3	-16.6	-2.3	3.5	7.1	6.5	0.3	-11.7
Tax rate	n/a	n/a	41%	n/a	n/a	n/a	n/a	61%	8%	63%	-318%	n/a
Net income	-9.8	-4.0	7.5	-2.1	-2.3	-16.5	-0.5	1.3	6.5	2.4	1.4	-13.5
Net margin	-11%	-4%	8%	-2%	-2%	-17%	-1%	1%	6%	2%	1%	-11%
Diluted EPS	-$0.24	-$0.10	$0.18	-$0.05	-$0.05	-$0.39	-$0.01	$0.03	$0.13	$0.05	$0.03	-$0.28
Operating cash flow	7.2	10.8	-5.5	6.1	11.5	10.1	-17.0	15.0	22.3	19.6	1.2	-1.3
Capital expenditure	1.5	1.9	3.6	2.5	3.6	1.4	3.6	3.3	4.6	27.5	8.0	10.7
Free cash flow	5.8	8.9	-9.1	3.6	7.8	8.7	-20.6	11.7	17.7	-7.9	-6.8	-12.0
Shares outstanding	43m	41m	42m	42m	42m	42m	43m	47m	47m	48m	49m	49m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 June 2026, filed 7 August 2026, accession 0001628280-26-054746: the filing on EDGAR. All of Artivion, Inc.'s filings: EDGAR company page.

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