Artivion, Inc. Files Q3 2024 10-Q Report

TL;DR

ARTIVION Q3 10-Q FILED - CHECK FINANCIALS

AI Summary

Artivion, Inc. filed its 10-Q for the period ending September 30, 2024. The company, formerly known as Cryolife Inc., reported financial results for the third quarter and the first nine months of the year. Key financial data and operational segments were detailed in the filing.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational details for Artivion, Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the healthcare sector can be subject to regulatory and market risks.

Key Numbers

• 2024-09-30 — Reporting Period End Date (The end date for the financial reporting period covered by this 10-Q.)
• 2024-11-08 — Filing Date (The date the 10-Q report was officially filed with the SEC.)

Key Players & Entities

• ARTIVION, INC. (company) — Filer
• 2024-09-30 (date) — Reporting Period End Date
• CRYOLIFE INC (company) — Former Company Name
• 1655 ROBERTS BOULEVARD N W (address) — Business Address
• KENNESAW (city) — Business Address City
• GA (state) — Business Address State
• 30144 (zip_code) — Business Address Zip

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value AORT New York Stock Exchange

Filing Documents

• aort-20240930.htm (10-Q) — 1464KB
• aort-20240930xex311.htm (EX-31.1) — 9KB
• aort-20240930xex312.htm (EX-31.2) — 9KB
• aort-20240930xex32.htm (EX-32) — 6KB
• 0000784199-24-000243.txt ( ) — 7670KB
• aort-20240930.xsd (EX-101.SCH) — 53KB
• aort-20240930_cal.xml (EX-101.CAL) — 85KB
• aort-20240930_def.xml (EX-101.DEF) — 240KB
• aort-20240930_lab.xml (EX-101.LAB) — 676KB
• aort-20240930_pre.xml (EX-101.PRE) — 467KB
• aort-20240930_htm.xml (XML) — 1054KB

– FINANCIAL INFORMATION

Part I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. 3 Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) 3 Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Cash Flows 5 Condensed Consolidated Statements of Stockholder s' Equity 6 Notes to Condensed Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. 27

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk. 40

Controls and Procedures

Item 4. Controls and Procedures. 40

– OTHER INFORMATION

Part II – OTHER INFORMATION 41

Legal Proceedings

Item 1. Legal Proceedings. 42

Risk Factors

Item 1A. Risk Factors. 42

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 57

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities. 57

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. 57

Other Information

Item 5. Other Information. 57

Exhibits

Item 6. Exhibits. 58

Signatures

Signatures 59 2 Table of Contents

– FINANCIAL INFORMATION

Part I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. Artivion, Inc. and Subsidiaries Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) In Thousands, Except Per Share Data (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenues: Products $ 71,244 $ 63,747 $ 215,568 $ 192,041 Preservation services 24,535 24,107 75,661 68,293 Total revenues 95,779 87,854 291,229 260,334 Cost of products and preservation services: Products 24,412 21,574 72,707 62,084 Preservation services 10,358 10,010 31,243 30,169 Total cost of products and preservation services 34,770 31,584 103,950 92,253 Gross margin 61,009 56,270 187,279 168,081 Operating expenses: General, administrative, and marketing 50,017 51,093 130,026 158,699 Research and development 6,605 6,421 21,048 21,062 Total operating expenses 56,622 57,514 151,074 179,761 Gain from sale of non-financial assets — — — ( 14,250 ) Operating income (loss) 4,387 ( 1,244 ) 36,205 2,570 Interest expense 8,405 6,603 24,535 19,055 Interest income ( 366 ) ( 339 ) ( 1,093 ) ( 679 ) Loss on extinguishment of debt — — 3,669 — Other (income) expense, net ( 2,386 ) 1,911 6 5,189 (Loss) income before income taxes ( 1,266 ) ( 9,419 ) 9,088 ( 20,995 ) Income tax expense 1,022 382 5,964 5,720 Net (loss) income $ ( 2,288 ) $ ( 9,801 ) $ 3,124 $ ( 26,715 ) (Loss) income per share: Basic $ ( 0.05 ) $ ( 0.24 ) $ 0.07 $ ( 0.65 ) Diluted $ ( 0.05 ) $ ( 0.24 ) $ 0.07 $ ( 0.65 ) Weighted-average common shares outstanding: Basic 41,844 40,881 41,607 40,691 Diluted 41,844 40,881 42,621 40,691 Net (loss) income $ ( 2,288 ) $ ( 9,801 ) $ 3,124 $ ( 26,715 ) Other comprehensive income (loss): Foreign currency translation adjustments 8,393 ( 7,070 ) 2,529 ( 1,423 ) Unrealized (loss) gain from foreign currency intra-entity loans, net of tax ( 2,060 ) 2,060 ( 47 ) 1,855 Comprehensive income (loss) $ 4,045 $ ( 14,811 ) $ 5,606 $ ( 26,283 ) See accompanying Notes t

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View this 10-Q filing on SEC EDGAR