Artivion (AORT) Q3 FY2026 earnings: revenue $124 million, up 9.2% on the year

Artivion, Inc. (AORT) reported revenue of $124 million for Q3 FY2026, the quarter ended 30 September 2026, up 9.2% on the same quarter a year earlier. Net income was -$8 million, and diluted earnings per share $-0.16. The figures are the company's own, from the 10-Q it filed with the SEC on 6 November 2026.

Revenue

$124 million

+9.2% on the year · -1.6% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

2.4%

11.1% a year earlier

Q4 FY2024Q3 FY2026

Net income

-$8 million

Q4 FY2024Q3 FY2026

Diluted EPS

-$0.16

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 kept.

Revenue grew 9 percent: Revenue was $123.8 million, up 9% on a GAAP basis and 9% in constant currency, from $113.4 million a year earlier. On-X was the lead growth product.
Adjusted EBITDA down 8 percent: Adjusted EBITDA was $22.5 million, against $24.6 million. Operating income was $2.9 million, compared with $12.5 million a year earlier.
On-X growth led revenue: On-X revenue was $30.3 million, up 13% in constant currency from $26.8 million a year earlier.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	124	126	113	-1.6%	+9.2%
Cost of revenue	47.8	45.2	39.0	+5.7%	+22.6%
Gross profit	76.0	80.5	74.4	-5.6%	+2.1%
Gross margin	61.4%	64.0%	65.6%
Research and development	9.8	9.1	8.1	+8.3%	+21.4%
Selling, general and administrative	63.2	79.8	57.3	-20.8%	+10.4%
Operating income	2.9	-8.4	12.5		-76.5%
Operating margin	2.4%	-6.7%	11.1%
Interest expense	8.5	7.3	6.1	+17.4%	+39.2%
Pre-tax income	-5.9	-11.7	7.1
Income tax	2.0	1.8	0.6	+10.8%	+262.1%
Effective tax rate	n/a	n/a	7.9%
Net income	-7.9	-13.5	6.5
Net margin	-6.4%	-10.7%	5.7%
Diluted EPS	-$0.16	-$0.28	$0.13

$ 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

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	-4.6	-1.3	22.3
Capital expenditure	13.0	10.7	4.6	+21.1%	+182.3%
Free cash flow	-17.6	-12.0	17.7
Free cash flow margin	-14.2%	-9.6%	15.6%
Cash from investing	-13.0	-129	-4.6
Cash from financing	-11.3	152	2.3
Depreciation and amortisation	7.3	6.7	5.7	+8.8%	+28.5%
Share-based compensation	6.2	8.2	6.1	-23.8%	+1.5%
Diluted shares, weighted	49m	49m	49m	+0.4%	-0.1%
Shares outstanding at period end	49m	49m	47m	+0.1%	+3.0%

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

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	446	446	439	+0.2%	+1.8%
Debt	364	363	215	+0.1%	+69.3%
Operating lease liabilities	34.7	35.8	38.4	-3.1%	-9.7%
Finance lease liabilities	2.6	2.8	2.9	-8.1%	-10.6%
Other liabilities	195	224	163	-13.2%	+19.6%
Total liabilities and equity	1,042	1,072	858	-2.8%	+21.5%
Fixed assets	81.7	73.7	40.7	+10.9%	+100.8%
Goodwill	345	350	254	-1.4%	+35.8%
Intangible assets	146	149	126	-2.3%	+15.3%
Cash and equivalents	48.4	77.3	73.4	-37.4%	-34.1%
Receivables	94.9	97.9	88.1	-3.1%	+7.7%
Inventory	107	103	90.5	+3.6%	+18.2%
Other assets	219	220	184	-0.6%	+18.9%
Total assets	1,042	1,072	858	-2.8%	+21.5%

Questions

What was Artivion's revenue in Q3 FY2026?

Artivion (AORT) reported revenue of $124 million for Q3 FY2026, the quarter ended 30 September 2026, up 9.2% on the same quarter a year earlier.

How much did Artivion earn in Q3 FY2026?

Net loss for Q3 FY2026 was $8 million, and the diluted loss per share $0.16.

When did Artivion report Q3 FY2026 results?

Artivion filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 6 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023 †	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	79.4	77.2	80.3	76.8	79.4	83.2	89.3	87.9	93.7	97.4	98.0	95.8	97.3	99.0	113	113	116	116	126	124
Cost of revenue	28.0	26.5	28.2	28.1	28.5	29.5	31.2	31.6	32.6	34.5	34.7	34.8	35.8	35.4	39.9	39.0	42.8	40.9	45.2	47.8
Gross profit	51.4	50.7	52.2	48.7	50.9	53.7	58.1	56.3	61.1	62.9	63.3	61.0	61.5	63.6	73.1	74.4	73.1	75.4	80.5	76.0
Gross margin	65%	66%	65%	63%	64%	65%	65%	64%	65%	65%	65%	64%	63%	64%	65%	66%	63%	65%	64%	61%
R&D	9.5	10.1	8.6	11.8	8.3	7.2	7.4	6.4	7.6	6.9	7.5	6.6	7.4	6.7	7.1	8.1	9.1	8.8	9.1	9.8
SG&A	51.3	39.0	39.0	41.1	38.5	50.4	57.2	51.1	50.3	30.7	49.3	50.0	51.4	54.7	57.7	57.3	56.8	60.8	79.8	63.2
Operating income	-9.3	1.6	4.5	-4.1	4.1	-3.9	7.7	-1.2	3.2	25.3	6.5	4.4	2.7	2.1	8.4	12.5	10.7	5.8	-8.4	2.9
Operating margin	-12%	2%	6%	-5%	5%	-5%	9%	-1%	3%	26%	7%	5%	3%	2%	7%	11%	9%	5%	-7%	2%
Interest expense	3.9	3.9	4.1	4.8	5.4	6.1	6.4	6.6	6.2	7.8	8.3	8.4	9.7	7.7	7.3	6.1	5.5	5.4	7.3	8.5
Pre-tax income	-16.1	-2.4	-3.3	-12.5	3.3	-8.9	-2.7	-9.4	-0.6	12.8	-2.4	-1.3	-16.6	-2.3	3.5	7.1	6.5	0.3	-11.7	-5.9
Tax rate	n/a	n/a	n/a	n/a	34%	n/a	n/a	n/a	n/a	41%	n/a	n/a	n/a	n/a	61%	8%	63%	-318%	n/a	n/a
Net income	-20.1	-3.4	-4.3	-13.7	2.2	-13.5	-3.4	-9.8	-4.0	7.5	-2.1	-2.3	-16.5	-0.5	1.3	6.5	2.4	1.4	-13.5	-7.9
Net margin	-25%	-4%	-5%	-18%	3%	-16%	-4%	-11%	-4%	8%	-2%	-2%	-17%	-1%	1%	6%	2%	1%	-11%	-6%
Diluted EPS	-$0.50	-$0.08	-$0.11	-$0.34	$0.05	-$0.33	-$0.08	-$0.24	-$0.10	$0.18	-$0.05	-$0.05	-$0.39	-$0.01	$0.03	$0.13	$0.05	$0.03	-$0.28	-$0.16
Operating cash flow	0.7	-0.6	-8.3	4.0	-0.2	-6.2	6.9	7.2	10.8	-5.5	6.1	11.5	10.1	-17.0	15.0	22.3	19.6	1.2	-1.3	-4.6
Capital expenditure	2.6	2.2	1.8	2.9	2.1	2.8	1.8	1.5	1.9	3.6	2.5	3.6	1.4	3.6	3.3	4.6	27.5	8.0	10.7	13.0
Free cash flow	-1.9	-2.8	-10.1	1.1	-2.3	-9.0	5.1	5.8	8.9	-9.1	3.6	7.8	8.7	-20.6	11.7	17.7	-7.9	-6.8	-12.0	-17.6
Shares outstanding	40m	40m	40m	40m	42m	42m	42m	43m	41m	42m	42m	42m	42m	43m	47m	47m	48m	49m	49m	49m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	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 its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 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.

10-Q for the period ended 30 September 2026, filed 6 November 2026: the filing.