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Artivion cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$17.6M in Q3 2026 · −$44.4M over twelve months

Operating cash flow−$4.6M
Capital spending−$13.0M
Free cash flow−$17.6M
Cash conversion cycle237 days

Analysis

In Q3 2026, Artivion generated −$4.6M of operating cash flow and spent $13.0M on capital projects, leaving free cash flow of −$17.6M. That is $35.2M less than in Q3 2025 ($17.7M).

Over the twelve months to Sep 30, 2026, operating cash flow was $14.9M; the largest uses were other investing ($124M), capital spending ($59.3M), other financing ($9.3M); besides operations, cash came from net borrowing (+) / repaid (−) ($146M), shares issued ($7.6M); the cash balance fell by $25.0M.

Operating cash flow was −$4.6M against net income of −$7.9M. The largest differences: payables −$17.1M, depreciation & amortization +$7.3M, stock-based pay +$6.2M.

Its cash conversion cycle was 237 days (receivables 72 + inventory 202 − payables 37).

Free cash flow

Artivion: free cash flow by quarterArtivion: free cash flow by quarter$8.7MQ4 2024−$20.6MQ1 2025$11.7MQ2 2025$17.7MQ3 2025−$7.9MQ4 2025−$6.8MQ1 2026−$12.0MQ2 2026−$17.6MQ3 2026
Operating cash flow less capital spending.
Artivion: operating cash flow against capital spendingArtivion: operating cash flow against capital spendingOperating cash flowCapital spending$10.1M$1.4MQ4 2024−$17.0M$3.6MQ1 2025$15.0M$3.3MQ2 2025$22.3M$4.6MQ3 2025$19.6M$27.5MQ4 2025$1.2M$8.0MQ1 2026−$1.3M$10.7MQ2 2026−$4.6M$13.0MQ3 2026
Latest (Q3 2026): Operating cash flow −$4.6M, Capital spending $13.0M.

Capital allocation, year by year

Artivion: where the cash came from (up) and went (down), by fiscal yearArtivion: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY2021: Operating cash flow −$2.6MFY2021: Net borrowing −$3.6MFY2021: Shares issued $3.8MFY2021: Asset sales $19.0MFY2021: Capital spending −$13.1M$22.8MFY2021FY2022: Operating cash flow −$5.2MFY2022: Net borrowing −$3.3MFY2022: Shares issued $3.4MFY2022: Capital spending −$10.7M$3.4MFY2022FY2023: Operating cash flow $18.8MFY2023: Net borrowing −$2.5MFY2023: Shares issued $4.0MFY2023: Asset sales $14.2MFY2023: Capital spending −$9.8M$37.0MFY2023FY2024: Operating cash flow $22.2MFY2024: Net borrowing −$981KFY2024: Shares issued $5.7MFY2024: Capital spending −$11.2M$28.0MFY2024FY2025: Operating cash flow $39.9MFY2025: Net borrowing −$699KFY2025: Shares issued $13.1MFY2025: Asset sales $5.0MFY2025: Capital spending −$39.0M$58.0MFY2025
Over these 5 years operating cash flow totalled $73.2M; the largest uses were capital spending ($83.8M) and net borrowing ($11.1M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$48.4M
Debt$364M
Net debt$315M
Cash runway8 months

Artivion is burning cash: its operations consume cash, a free cash flow of −$70.3M a year at the current rate against $48.4M of cash and investments: a runway of about 8 months before any new financing.

Where the cash came from and went

Artivion: sources (+) and uses (−) of cash, Q3 2026Artivion: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$28.9MCapital spending−$13.0MOther financing−$11.9MOperating cash flow−$4.6MShares issued$1.5MNet borrowing (+) / repaid (−)−$869KExchange rates−$67K
Artivion: sources (+) and uses (−) of cash, TTM to Q3 2026Artivion: sources (+) and uses (−) of cash, TTM to Q3 2026Net borrowing (+) / repaid (−)$146MOther investing−$124MCapital spending−$59.3MCash drawn (+) / kept (−)$25.0MOperating cash flow$14.9MOther financing−$9.3MShares issued$7.6MExchange rates−$487K

From profit to cash

Artivion: net income to operating cash flow, Q3 2026Artivion: net income to operating cash flow, Q3 2026Net income−$7.9MDepreciation & amortization$7.3MStock-based pay$6.2MDeferred taxes$586KReceivables$3.9MPayables−$17.1MPrepaid and other assets$760KOperating cash flow−$4.6M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20267220237237
Q2 20266920339232
Q1 20267021038242
Q4 20257119635232
Q3 20257320942240
Q2 20257219336229
Q1 20257620638244
Q4 20247321137246

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$4.6M−$13.0M−$869K$1.5M$28.9M−$17.6M
Q2 2026−$1.3M−$10.7M−$863K$1.4M−$21.6M−$12.0M
Q1 2026$1.2M−$8.0M−$577K$1.2M$9.1M−$6.8M
Q4 2025$19.6M−$27.5M−$858K$3.5M$8.5M−$7.9M
Q3 2025$22.3M−$4.6M−$914K$5.2M−$19.9M$17.7M
Q2 2025$15.0M−$3.3M−$622K$278K−$15.8M$11.7M
Q1 2025−$17.0M−$3.6M−$66K$4.2M$15.8M−$20.6M
Q4 2024$10.1M−$1.4M—$443K$2.7M$8.7M

Artivion: income statement and cash flow

Artivion, Q3 2026: revenue $124M (+9% year over year), operating margin 2.4%. The chart follows the revenue to costs, profit and cash.

Artivion: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.