AORTMEDIUM SIGNALFINANCIAL10-K

AORT demonstrates strong operational improvement with substantially higher operating cash flow and improved capital structure through debt reduction and equity expansion.

The company's operating cash flow grew substantially year-over-year while management successfully reduced total debt by nearly one-third, indicating improved operational efficiency and financial discipline. The 14% increase in outstanding shares alongside the significant equity expansion suggests potential equity financing activity that strengthened the balance sheet.

Comparing 2026-02-18 vs 2025-02-28View on EDGAR →
FINANCIAL ANALYSIS

AORT delivered robust financial performance with revenue growing 18% and operating cash flow substantially higher at $39.9M versus $22.2M in the prior year. The company meaningfully strengthened its capital structure by reducing total debt from $314.3M to $215.1M while expanding stockholders' equity by 62% to $448.2M. Higher SG&A expenses and increased interest expense reflect business expansion investments, while growing inventory levels suggest preparation for continued revenue growth.

FINANCIAL STATEMENT CHANGES
Operating Cash Flow
Cash Flow
+79.3%
$22.2M$39.9M

Operating cash flow surged 79.3% — exceptional cash generation, highest quality earnings signal.

Stockholders Equity
Balance Sheet
+62.3%
$276.2M$448.2M

Equity base grew 62.3% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Current Liabilities
Balance Sheet
+52%
$66.8M$101.6M

Current liabilities surged 52% — significant near-term obligations; verify ability to meet short-term debt.

Interest Expense
P&L
+38.8%
$18.2M$25.3M

Interest expense surged 38.8% — significant debt increase or rising rates materially impacting earnings.

Total Debt
Balance Sheet
-31.6%
$314.3M$215.1M

Debt reduced 31.6% — deleveraging strengthens balance sheet and reduces financial risk.

SG&A Expense
P&L
+24.8%
$181.5M$226.5M

SG&A increased modestly — likely reflects growth-related hiring or sales expansion investment.

Current Assets
Balance Sheet
+23.4%
$290.1M$358.1M

Current assets grew 23.4% — improving short-term liquidity or inventory/receivables build.

Cash & Equivalents
Balance Sheet
+21.4%
$53.5M$64.9M

Cash grew 21.4% — improving liquidity position supports investment and shareholder returns.

Revenue
P&L
+18%
$253.2M$298.8M

Revenue growing 18% — solid top-line momentum, watch margins for quality of growth.

Inventory
Balance Sheet
+15.9%
$79.8M$92.4M

Inventory built 15.9% — monitor whether demand supports this build or if write-downs may follow.

LANGUAGE CHANGES
NEW — 2026-02-18
PRIOR — 2025-02-28
ADDED
As of February 13, 2026 the number of outstanding shares of Common Stock of the registrant was 47,883,897 .
Abdominal stent grafts include our E-xtra Design Engineering, E-nside TM , Artivex TM , E-tegra TM , E-ventus TM BX, Tuva TM BX, and E-liac TM products.
Surgical sealants include BioGlue Surgical Adhesive ( BioGlue ) products.
Recent real-world data presented at the 2024 AATS showed five-year outcomes for 229 On-X aortic heart valve patients managed at a low INR of 1.5-2.0 (after 3 months standard therapy) reduces risk of major bleeding by 87% with no increase in thromboembolic events and no valve thrombosis when compared to standard INR of 2.0-3.0.
Thoracic Stents and Stent Grafts E-vita Open NEO The E-vita Open NEO is the next generation of the E-vita Open Plus hybrid stent graft, with an updated delivery system and improved handling.
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REMOVED
As of February 21, 2025 the number of outstanding shares of Common Stock of the registrant was 42,047,888 .
Abdominal stent grafts include our E-xtra Design Engineering (including Artivex TM ), E-nside TM , E-tegra TM , E-ventus TM BX, Tuva BX, and E-liac TM products.
Surgical sealants include our BioGlue Surgical Adhesive products ( BioGlue ).
On January 1, 2022 we converted our state of incorporation from Florida to Delaware, and on January 18, 2022 we changed our name from CryoLife, Inc.
Our common stock is listed on the New York Stock Exchange under the symbol of AORT and traded under the symbol CRY prior to January 24, 2022.
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