LivaNova (LIVN) FY2024 results: revenue $1.3 billion, up 8.7% on the year

LivaNova plc (LIVN) reported revenue of $1.3 billion for fiscal 2024, the year ended 31 December 2024, up 8.7% on the year before. Net income was $63 million, up 260.4%, and diluted earnings per share $1.16. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2025.

Revenue

$1.3 billion

+8.7% on the year

FY2017FY2024

Operating margin

10.3%

-5.9% a year earlier

FY2017FY2024

Net income

$63 million

+260.4% on the year

FY2017FY2024

Diluted EPS

$1.16

+262.5% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	1,253	1,154	1,022	+8.7%
Cost of revenue	400	398	315	+0.6%
Gross profit	853	756	707	+12.9%
Gross margin	68.1%	65.5%	69.2%
Research and development	183	194	156	-5.8%
Selling, general and administrative	509	503	469	+1.2%
Operating income	129	-68.5	-76.8
Operating margin	10.3%	-5.9%	-7.5%
Interest expense	63.1	58.9	48.2	+7.2%
Pre-tax income	88.3	-81.2	-75.1
Income tax	25.1	-98.9	11.1
Effective tax rate	28.4%	n/a	n/a
Net income	63.2	17.5	-86.2	+260.4%
Net margin	5.0%	1.5%	-8.4%
Diluted EPS	$1.16	$0.32	-$1.61	+262.5%

$ 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	FY2024	FY2023	FY2022	On the year
Operating cash flow	183	74.9	69.9	+144.3%
Capital expenditure	47.1	35.0	26.5	+34.7%
Free cash flow	136	39.9	43.4	+240.4%
Free cash flow margin	10.8%	3.5%	4.2%
Cash from investing	-48.2	-40.3	-38.4
Cash from financing	18.6	21.5	280	-13.7%
Depreciation and amortisation	42.3	50.2	n/a	-15.7%
Share-based compensation	33.9	36.4	44.8	-6.7%
Diluted shares, weighted	55m	54m	53m	+0.7%
Shares outstanding at period end	54m	54m	54m	+0.8%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	1,320	1,278	1,208	+3.3%
Debt	627	586	539	+7.0%
Operating lease liabilities	40.1	45.4	29.5	-11.6%
Other liabilities	519	521	519	-0.3%
Total liabilities and equity	2,506	2,430	2,295	+3.2%
Fixed assets	170	154	147	+10.4%
Goodwill	750	783	769	-4.2%
Intangible assets	237	261	369	-9.1%
Investments	25.1	n/a	n/a
Cash and equivalents	429	267	214	+60.9%
Receivables	193	215	183	-10.2%
Inventory	148	148	129	-0.2%
Other assets	554	602	484	-7.9%
Total assets	2,506	2,430	2,295	+3.2%

10-K for the year ended 31 December 2024, filed 25 February 2025: the filing.