Avanos Medical, Inc. is a medical technology company making clinical medical devices. The company consists of two franchises – Pain Management and Chronic Care – that address reducing the use of opioids while helping patients recover faster and preventing infection.3 Its shares trade on NYSE under the symbol AVNS.1Wikipedia text CC BY-SA 4.0
Avanos Medical, Inc. is a medical technology company making clinical medical devices. The company consists of two franchises – Pain Management and Chronic Care – that address reducing the use of opioids while helping patients recover faster and preventing infection.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Revenue101112139$701.2M in 2025+1% since 2019Gross profit101112139$353.9M in 2025−12% since 2019Operating income101112139-$61.6M in 2025+11% since 2019Net income101112139-$72.9M in 2025+59% since 2019
Revenue141516$182.2M in Q1 FY2026+4% since Q2 FY2025Gross profit141516$94.2M in Q1 FY2026+2% since Q2 FY2025Operating income141516$8.9M in Q1 FY2026Net income141516$5.1M in Q1 FY2026
Total assets17101112139$1.1B in 2025−40% since 2019Total liabilities17101112139$295.5M in 2025−45% since 2019Shareholders’ equity1112139$778.2M in 2025−39% since 2019Cash17101112139$89.8M in 2025−56% since 2019Long-term debt181011139$90.3M in 2025−64% since 2019
Total assets141516$1.1B in Q1 FY2026+1% since Q2 FY2025Total liabilities141516$268.0M in Q1 FY2026+2% since Q2 FY2025Shareholders’ equity141516$782.1M in Q1 FY2026+1% since Q2 FY2025Cash141516$65.6M in Q1 FY2026−27% since Q2 FY2025Long-term debt141516$87.3M in Q1 FY2026−9% since Q2 FY2025
Avanos Medical sits at the top of its group. 32 entities, 18 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Avanos Medical (Shanghai) Co., Ltd. Subsidiary · China
Avanos Medical (Thailand) Limited Subsidiary · Thailand
Avanos Medical Australia Pty Ltd. Subsidiary · Australia
Avanos Medical Belgium Subsidiary · Zaventem, Belgium
Avanos Medical Belgium BVBA Subsidiary · Belgium
Avanos Medical Brasil Consultoria Ltda. Subsidiary · Brazil
Avanos Medical Brasilia, LLC Subsidiary · Delaware, United States
Avanos Medical Canada Inc. Subsidiary · Canada
Avanos Medical Deutschland GmbH Subsidiary · Germany
Avanos Medical France SAS Subsidiary · France
Avanos Medical India Private Limited Subsidiary · India
Avanos Medical International, Inc. Subsidiary · Delaware, United States
Avanos Medical Japan, Inc. Subsidiary · Delaware, United States
Avanos Medical Japan, Inc. (Japanese Branch) Subsidiary · Japan
Avanos Medical Mexico, S. de R.L. de C.V. Subsidiary · Mexico
Avanos Medical Nederland B.V. Subsidiary · Netherlands
Avanos Medical Portugal Lda. Subsidiary · Portugal
Avanos Medical Sales, LLC Subsidiary · North Carolina, United States
Avanos Medical Sao Paulo, LLC Subsidiary · Delaware, United States
Avanos Medical Singapore Pte. Ltd. Subsidiary · Singapore
Avanos Medical South Africa (Pty) Ltd. Subsidiary · South Africa
Avanos Medical Sverige AB Subsidiary · Sweden
Avanos Medical UK Limited Subsidiary · United Kingdom
Avent Holdings, LLC Subsidiary · Delaware, United States
Avent Investment, LLC Subsidiary · Delaware, United States
and 6 more
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Avanos Medical reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
We own or lease operating facilities located throughout the world that handle manufacturing production, assembly, research, quality assurance testing, distribution and packaging of our products. We believe our facilities are suitable and adequate for our present operations. We lease our principal executive offices that are located in Alpharetta, Georgia. The locations of our principal medical device production facilities owned or leased by us around the world are as follows:
Avanos Medical also manufactures and distributes Eternal Access System to help healthcare providers to fit feeding tubes into a patient safely - that is the Cortak 2.
They describe Cortrak 2 system as "a time-saving solution that benefits nurses of all levels, dieticians, and GI and ICU doctors."
In April 2022, it was reported that a voluntary field correction had been issued by the company for a vital hospital tool that could have led to injury or even death.
Avanos sells its brands and products in more than 90 countries and operates 8 principal medical device production facilities – generating approximately $612 million in net revenue.
In April 2026, Avanos agreed to be acquired by affiliates of American Industrial Partners. The acquisition was completed in July 2026.
Feb 26, 2025Reported quarterly or annual results71
Oct 30, 2024Reported quarterly or annual results72
Jul 31, 2024Reported quarterly or annual results73
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
292 filings to the SEC since October 2021: 5 annual reports, 14 quarterly reports, 62 major events, 134 insider forms, 37 large holders, 40 other. The latest 20:
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
From the cover page of the 10-K filed Feb 24, 2026 (Section 12(b) of the Exchange Act).19
Risk factors and legal proceedings
The risks Avanos Medical names in Item 1A of its 10-K filed Feb 24, 2026: 38 risks under these headings, as written.19
Risks Related to our Business and Industry
We face strong competition. Our failure to compete effectively could have a material adverse effect on our business.
We may not be successful in developing, acquiring or marketing competitive products and technologies.
We cannot guarantee that any of our strategic acquisitions, investments or alliances will be successful.
We may be unable to attract and retain key employees necessary to be competitive.
We rely on the proper function, security and availability of our information technology systems and data, as well as those of third parties, to operate our business, and a breach of our information technology systems, could have a material adverse effect on our business.
Our failure to effectively integrate AI into our information technology systems and operations could have a material adverse effect on our business.
We may be unable to protect our intellectual property rights or may infringe the intellectual property rights of others.
Our business and operations are subject to risks related to global climate change.
Our customers depend on third-party coverage and reimbursements. The failure of healthcare programs to provide coverage and reimbursement, or reductions in levels of reimbursement, could have a material adverse effect on our business.
A pandemic or other public health emergency could adversely impact our business operations, financial condition, results of operations and cash flows.
An inability to obtain key components, raw materials or manufactured products from third parties may have a material adverse effect on our business.
The other 27 risks
An interruption in our ability to manufacture products may have a material adverse effect on our business.
We may not successfully execute on or achieve the expected benefits of our restructuring initiative.
We may not achieve the expected benefits of our divestiture activities.
Ongoing regional conflicts and the related implications could have a material adverse effect on our business and results of operations.
Supply chain disruptions could have a material adverse effect on our business.
Our business, operating results, and cash flows have been affected and may continue to be adversely affected by inflationary pressures.
The adoption and interpretation of tax laws may have a material adverse effect on our business.
We face significant uncertainty in the healthcare industry due to government healthcare reform and legislative changes in the United States and elsewhere.
We are subject to extensive government regulation, which may require us to incur significant expenses to ensure compliance.
We are subject to healthcare fraud and abuse laws and regulations that could result in significant liability, require us to change our business practices or restrict our operations in the future.
We must obtain clearance or approval from the appropriate regulatory authorities prior to introducing a new product or a modification to an existing product. The regulatory clearance process may result in substantial costs, delays and limitations on the types and uses of products we can bring to market, any of which could have a material adverse effect on our business.
We are subject to risks related to our manufacturing operations in Mexico.
We may incur product liability losses, litigation liability, product recalls, safety alerts or regulatory action associated with our products which could be costly and disruptive to our business.
Economic conditions have affected and may continue to adversely affect our business, results of operations, financial condition and cash flows.
Currency exchange rate fluctuations could have a material adverse effect on our business and results of operations.
We are exposed to price fluctuations of key commodities, which may negatively impact our results of operations.
Cost-containment efforts of our customers, healthcare purchasing groups, third-party payors and governmental organizations could adversely affect our sales and profitability.
We are subject to political, economic and regulatory risks associated with doing business outside of the United States.
The tariffs imposed to date, and the imposition of new or additional tariffs by the United States, along with retaliatory tariffs and other trade restrictions imposed by other countries, could have a material adverse effect on our business, financial condition, results of operations and cash flows.
We may need additional financing in the future to meet our capital needs or to make acquisitions and such financing may not be available on favorable terms, if at all.
Events in the banking industry and the associated macroeconomic impacts may have a material adverse effect on our business operations, financial condition, results of operations and cash flows.
Any non-cash impairment of our long-lived assets, including intangible assets and goodwill, could have a material adverse impact on our results of operations.
Risks Related to Ownership of Avanos Common Stock
We cannot guarantee that our stock price will not decline or fluctuate significantly.
We have no present intention to pay dividends on Avanos common stock.
The percentage of ownership of existing stockholders in Avanos may be diluted in the future.
Certain provisions of our certificate of incorporation may make it difficult for stockholders to initiate litigation against us in a favorable forum for disputes with us or our directors or officers.
Certain provisions of our certificate of incorporation and by-laws and of Delaware law may make it difficult for stockholders to change the composition of our Board of Directors and may discourage hostile takeover attempts which some of our stockholders may consider to be beneficial.
Legal proceedings
We are subject to various legal proceedings, claims and governmental inspections, audits or investigations pertaining to issues such as contract disputes, product liability, tax matters, patents and trademarks, advertising, governmental regulations, employment and other matters. At present, although the results of litigation and claims cannot be predicted with certainty, we believe that the ultimate resolution of any pending legal proceeding to which we are a party will not have a material adverse effect on our business, financial condition, results of operations or liquidity. See “Commitments and Contingencies” in Note 15 to the consolidated financial statements in Item 8 of this Form 10-K for a description of current legal matters.
