ARTIVION INC Reports Second Quarter Earnings Results for Fiscal Year 2023
August 18, 2023
🌥️Earnings Overview
For the second quarter of fiscal year 2023, ARTIVION INC ($NYSE:AORT) reported total revenue of USD 89.2 million, which marked an 11.1% increase from the same period in the prior year. Net income was USD -3.4 million compared to a net loss of -4.3 million in the same quarter of fiscal year 2022.
Market Price
The stock opened up at $17.0 and closed at $16.8, a decrease of 1.7% from the prior closing price of 17.1. Additionally, ARTIVION INC decreased its operating expenses by 4%, leading to improved profitability. The company’s stock price remains volatile however, as investors continue to wait for an upturn in the company’s fortunes in coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Artivion Inc. More…
| Total Revenues | Net Income | Net Margin |
| 328.72 | -28.4 | -11.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Artivion Inc. More…
| Operations | Investing | Financing |
| 4.51 | -1.49 | 2.8 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Artivion Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 777.86 | 495.35 | 6.91 |
Key Ratios Snapshot
Some of the financial key ratios for Artivion Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.4% | -28.6% | 0.5% |
| FCF Margin | ROE | ROA |
| -1.9% | 0.4% | 0.1% |
Analysis
GoodWhale has analyzed the wellbeing of ARTIVION INC. According to our Star Chart classification system, ARTIVION INC is a ‘rhino’ type of company, indicating it has achieved moderate revenue or earnings growth. This type of company may be of interest to investors looking for a balanced return on their investment. ARTIVION INC is strong in some areas and weaker in others. Our analysis shows that they are medium in terms of both growth and profitability, but weak in terms of assets and dividends. Despite this imbalance, their overall health score is still 5/10, indicating that they may be able to pay off debt and fund future operations. More…
Peers
The company has a strong market presence in Europe and North America. Artivion Inc competes with BICO Group AB, IVF Hartmann Holding AG, and Bioventus Inc. in the global IVF market.
– BICO Group AB ($OTCPK:CLLKF)
BICO Group AB is a Swedish company that provides healthcare and hygiene products. The company has a market cap of 215.89M as of 2022 and a Return on Equity of 0.14%. BICO Group AB’s products include medical gloves, face masks, and disinfectants. The company’s products are used in hospitals, clinics, and by consumers.
– IVF hartmann Holding AG ($LTS:0QQM)
As of 2022, hartmann Holding AG has a market cap of 268.8M and a Return on Equity of 4.11%. The company is engaged in the production of medical and hygiene products.
– Bioventus Inc ($NASDAQ:BVS)
Bioventus Inc is a medical device company that focuses on the development and commercialization of products for the orthopedic market. The company has a market cap of 423.63M as of 2022 and a Return on Equity of -5.08%. Bioventus was founded in 2006 and is headquartered in Durham, NC.
Summary
Investors are generally positive on the financial performance of ARTIVION INC in the second quarter of 2023. Revenue for the period was up 11.1% year-over-year, while net income swung from a loss to a small profit of -3.4 million. Despite the challenging economic conditions brought about by the pandemic, ARTIVION INC appears to have maintained a healthy level of growth and profitability. Going forward, investors will be looking to see if ARTIVION INC can continue to demonstrate positive financial performance in the coming quarters.
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