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Side-by-side financial comparison of Adagio Medical Holdings, Inc. (ADGM) and ARTIVION, INC. (AORT). Click either name above to swap in a different company.
Adagio Medical Holdings, Inc. produced more free cash flow last quarter ($-3.5M vs $-7.9M).
Adagio Medical Holdings, Inc. is a medical technology company focused on developing and commercializing innovative cryoablation platforms for treating cardiac arrhythmias, most notably atrial fibrillation. Its solutions are designed for electrophysiology clinicians, with primary commercial operations across North America and Europe, focused on improving safety and outcomes for patients living with heart rhythm disorders.
Artivion, Inc. is a distributor of cryogenically preserved human tissues for cardiac and vascular transplant applications and develops medical devices. Among its products are human heart valves, which are treated to remove excess cellular material and antigens, and BioGlue surgical adhesive.
ADGM vs AORT — Head-to-Head
Income Statement — Q3 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $0 | $116.0M |
| Net Profit | $-10.1M | $2.4M |
| Gross Margin | — | 63.1% |
| Operating Margin | — | 9.2% |
| Net Margin | — | 2.1% |
| Revenue YoY | — | 19.2% |
| Net Profit YoY | -380.6% | 114.7% |
| EPS (diluted) | $-0.66 | $0.06 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $116.0M | ||
| Q3 25 | $0 | $113.4M | ||
| Q2 25 | — | $113.0M | ||
| Q1 25 | — | $99.0M | ||
| Q4 24 | — | $97.3M | ||
| Q3 24 | $132.0K | $95.8M | ||
| Q2 24 | $254.0K | $98.0M | ||
| Q1 24 | — | $97.4M |
| Q4 25 | — | $2.4M | ||
| Q3 25 | $-10.1M | $6.5M | ||
| Q2 25 | — | $1.3M | ||
| Q1 25 | — | $-505.0K | ||
| Q4 24 | — | $-16.5M | ||
| Q3 24 | $3.6M | $-2.3M | ||
| Q2 24 | $-5.7M | $-2.1M | ||
| Q1 24 | — | $7.5M |
| Q4 25 | — | 63.1% | ||
| Q3 25 | — | 65.6% | ||
| Q2 25 | — | 64.7% | ||
| Q1 25 | — | 64.2% | ||
| Q4 24 | — | 63.2% | ||
| Q3 24 | -213.6% | 63.7% | ||
| Q2 24 | -168.5% | 64.6% | ||
| Q1 24 | — | 64.6% |
| Q4 25 | — | 9.2% | ||
| Q3 25 | — | 11.1% | ||
| Q2 25 | — | 7.4% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | -3352.3% | 4.6% | ||
| Q2 24 | -2621.7% | 6.6% | ||
| Q1 24 | — | 26.0% |
| Q4 25 | — | 2.1% | ||
| Q3 25 | — | 5.7% | ||
| Q2 25 | — | 1.2% | ||
| Q1 25 | — | -0.5% | ||
| Q4 24 | — | -16.9% | ||
| Q3 24 | 2731.8% | -2.4% | ||
| Q2 24 | -2257.5% | -2.2% | ||
| Q1 24 | — | 7.7% |
| Q4 25 | — | $0.06 | ||
| Q3 25 | $-0.66 | $0.13 | ||
| Q2 25 | — | $0.03 | ||
| Q1 25 | — | $-0.01 | ||
| Q4 24 | — | $-0.40 | ||
| Q3 24 | $0.02 | $-0.05 | ||
| Q2 24 | $-7.35 | $-0.05 | ||
| Q1 24 | — | $0.18 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.7M | $64.9M |
| Total DebtLower is stronger | $21.2M | $215.1M |
| Stockholders' EquityBook value | $-1.3M | $448.2M |
| Total Assets | $31.5M | $884.8M |
| Debt / EquityLower = less leverage | — | 0.48× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $64.9M | ||
| Q3 25 | $4.7M | $73.4M | ||
| Q2 25 | — | $53.5M | ||
| Q1 25 | — | $37.7M | ||
| Q4 24 | — | $53.5M | ||
| Q3 24 | $28.3M | $56.2M | ||
| Q2 24 | — | $55.0M | ||
| Q1 24 | — | $51.1M |
| Q4 25 | — | $215.1M | ||
| Q3 25 | $21.2M | $214.9M | ||
| Q2 25 | — | $215.6M | ||
| Q1 25 | — | $314.7M | ||
| Q4 24 | — | $314.3M | ||
| Q3 24 | $13.8M | $314.0M | ||
| Q2 24 | — | $313.6M | ||
| Q1 24 | — | $313.3M |
| Q4 25 | — | $448.2M | ||
| Q3 25 | $-1.3M | $438.7M | ||
| Q2 25 | — | $419.9M | ||
| Q1 25 | — | $294.3M | ||
| Q4 24 | — | $276.2M | ||
| Q3 24 | $76.6M | $304.7M | ||
| Q2 24 | $-140.5M | $295.1M | ||
| Q1 24 | — | $295.0M |
| Q4 25 | — | $884.8M | ||
| Q3 25 | $31.5M | $857.7M | ||
| Q2 25 | — | $838.4M | ||
| Q1 25 | — | $791.2M | ||
| Q4 24 | — | $789.1M | ||
| Q3 24 | $107.2M | $803.1M | ||
| Q2 24 | $-140.5M | $789.5M | ||
| Q1 24 | — | $784.0M |
| Q4 25 | — | 0.48× | ||
| Q3 25 | — | 0.49× | ||
| Q2 25 | — | 0.51× | ||
| Q1 25 | — | 1.07× | ||
| Q4 24 | — | 1.14× | ||
| Q3 24 | 0.18× | 1.03× | ||
| Q2 24 | — | 1.06× | ||
| Q1 24 | — | 1.06× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-3.0M | $19.6M |
| Free Cash FlowOCF − Capex | $-3.5M | $-7.9M |
| FCF MarginFCF / Revenue | — | -6.9% |
| Capex IntensityCapex / Revenue | — | 23.7% |
| Cash ConversionOCF / Net Profit | — | 8.06× |
| TTM Free Cash FlowTrailing 4 quarters | — | $839.0K |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $19.6M | ||
| Q3 25 | $-3.0M | $22.3M | ||
| Q2 25 | — | $15.0M | ||
| Q1 25 | — | $-17.0M | ||
| Q4 24 | — | $10.1M | ||
| Q3 24 | $-6.4M | $11.5M | ||
| Q2 24 | — | $6.1M | ||
| Q1 24 | — | $-5.5M |
| Q4 25 | — | $-7.9M | ||
| Q3 25 | $-3.5M | $17.7M | ||
| Q2 25 | — | $11.7M | ||
| Q1 25 | — | $-20.6M | ||
| Q4 24 | — | $8.7M | ||
| Q3 24 | $-6.9M | $7.8M | ||
| Q2 24 | — | $3.6M | ||
| Q1 24 | — | $-9.1M |
| Q4 25 | — | -6.9% | ||
| Q3 25 | — | 15.6% | ||
| Q2 25 | — | 10.4% | ||
| Q1 25 | — | -20.8% | ||
| Q4 24 | — | 9.0% | ||
| Q3 24 | -5254.5% | 8.2% | ||
| Q2 24 | — | 3.7% | ||
| Q1 24 | — | -9.3% |
| Q4 25 | — | 23.7% | ||
| Q3 25 | — | 4.1% | ||
| Q2 25 | — | 2.9% | ||
| Q1 25 | — | 3.7% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | 437.9% | 3.8% | ||
| Q2 24 | — | 2.6% | ||
| Q1 24 | — | 3.7% |
| Q4 25 | — | 8.06× | ||
| Q3 25 | — | 3.42× | ||
| Q2 25 | — | 11.16× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -1.76× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -0.73× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADGM
Segment breakdown not available.
AORT
| Aortic Stent Grafts | $43.3M | 37% |
| On X | $27.8M | 24% |
| Preservation Services | $24.1M | 21% |
| Surgical Sealants | $20.3M | 18% |
| Other Products | $463.0K | 0% |
