AXGN · Axogen, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $61.46M | - | $60.08M | $56.66M | $48.56M | - | $48.64M | $47.91M | $41.38M | - |
| Cost of Revenue | $15.27M | - | $14.09M | $14.64M | $13.63M | - | $12.21M | $12.57M | $8.76M | - |
| Gross Profit | $46.19M | - | $45.99M | $42.02M | $34.93M | - | $36.44M | $35.34M | $32.62M | - |
| R&D | $7.52M | - | $7.57M | $6.85M | $6.09M | - | $7.00M | $6.66M | $7.41M | - |
| SG&A | $12.87M | - | $10.84M | $9.69M | $9.46M | - | $10.83M | $9.42M | $9.96M | - |
| Total Operating Expenses | $49.02M | - | $44.08M | $40.35M | $36.59M | - | $36.75M | $35.77M | $37.18M | - |
| D&A | $1.60M | - | $1.64M | $1.66M | $1.73M | - | $1.65M | $1.66M | $1.52M | - |
| Operating Income | ($2.83M) | - | $1.91M | $1.67M | ($1.66M) | - | ($316.0K) | ($428.0K) | ($4.56M) | - |
| Interest Expense | $694.0K | - | $1.76M | $1.98M | $2.33M | - | $1.89M | $2.19M | $2.33M | - |
| Income Tax | $0 | - | $0 | $0 | $0 | - | - | - | - | - |
| Net Income | ($19.58M) | - | $708.0K | $579.0K | ($3.83M) | - | ($1.86M) | ($1.92M) | ($6.63M) | - |
| EPS - Basic | ($0.38) | - | $0.02 | $0.01 | ($0.08) | - | ($0.04) | ($0.04) | ($0.15) | - |
| EPS - Diluted | ($0.38) | - | $0.01 | $0.01 | ($0.08) | - | ($0.04) | ($0.04) | ($0.15) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $82.65M | $35.55M | $23.90M | $20.04M | $18.10M | $27.55M | $18.66M | $19.19M | $15.71M | $31.02M |
| Accounts Receivable | $28.31M | $26.17M | $30.77M | $28.03M | $26.30M | $24.11M | $24.63M | $25.15M | $24.21M | $25.15M |
| Inventory | $46.07M | $42.37M | $40.58M | $36.77M | $35.50M | $33.18M | $29.36M | $28.02M | $27.64M | $23.02M |
| Accounts Payable | - | $2.89M | - | - | - | $8.01M | - | - | - | $11.77M |
| Current Assets | $184.71M | $120.42M | $114.46M | $103.42M | $93.07M | $99.22M | $86.25M | $82.26M | $78.66M | $88.00M |
| Total Assets | $289.49M | $221.69M | $216.40M | $205.45M | $196.16M | $203.73M | $191.99M | $188.93M | $186.52M | $196.83M |
| Current Liabilities | $26.01M | $23.56M | $28.01M | $24.98M | $21.75M | $30.61M | $23.03M | $23.41M | $22.93M | $30.43M |
| Long-term Debt | $0 | $48.39M | $48.16M | $47.94M | $47.72M | $47.50M | $47.27M | $47.05M | $46.83M | $46.60M |
| Total Liabilities | $44.68M | $92.84M | $95.59M | $93.18M | $90.80M | $99.82M | $92.58M | $93.25M | $93.36M | $101.16M |
| Stockholders' Equity | $244.81M | $128.85M | $120.81M | $112.28M | $105.36M | $103.91M | $99.41M | $95.69M | $93.16M | $95.67M |
| Retained Earnings | ($326.55M) | ($306.96M) | ($293.81M) | ($294.51M) | ($295.09M) | ($291.26M) | ($291.71M) | ($289.85M) | ($287.93M) | ($281.30M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.56M | - | - | - | ($13.18M) | - | - | - | ($12.27M) | - |
| Investing Cash Flow | ($15.96M) | - | - | - | $1.34M | - | - | - | ($3.25M) | - |
| Financing Cash Flow | $59.51M | - | - | - | $2.38M | - | - | - | $204.0K | - |
| CapEx | $2.79M | - | - | - | $256.0K | - | - | - | $924.0K | - |
| Free Cash Flow | ($1.22M) | - | - | - | ($13.44M) | - | - | - | ($13.19M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 75.2% | - | 76.6% | 74.2% | 71.9% | - | 74.9% | 73.8% | 78.8% | - |
| Operating margin | -4.6% | - | 3.2% | 3.0% | -3.4% | - | -0.6% | -0.9% | -11.0% | - |
| EBITDA margin | -2.0% | - | 5.9% | 5.9% | 0.1% | - | 2.8% | 2.6% | -7.3% | - |
| Net margin | -31.9% | - | 1.2% | 1.0% | -7.9% | - | -3.8% | -4.0% | -16.0% | - |
| Free cash flow margin | -2.0% | - | - | - | -27.7% | - | - | - | -31.9% | - |
| FCF / Net income | 0.06 | - | - | - | 3.50 | - | - | - | 1.99 | - |
| R&D / Revenue | 12.2% | - | 12.6% | 12.1% | 12.5% | - | 14.4% | 13.9% | 17.9% | - |
| SG&A / Revenue | 20.9% | - | 18.0% | 17.1% | 19.5% | - | 22.3% | 19.7% | 24.1% | - |
| Effective tax rate | - | - | 0.0% | 0.0% | - | - | - | - | - | - |
| Return on assets | -6.8% | - | 0.3% | 0.3% | -2.0% | - | -1.0% | -1.0% | -3.6% | - |
| Return on equity | -8.0% | - | 0.6% | 0.5% | -3.6% | - | -1.9% | -2.0% | -7.1% | - |
| Return on invested capital | -0.9% | - | 1.1% | 1.0% | -0.9% | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 7.10 | 5.11 | 4.09 | 4.14 | 4.28 | 3.24 | 3.74 | 3.51 | 3.43 | 2.89 |
| Quick ratio | 5.33 | 3.31 | 2.64 | 2.67 | 2.65 | 2.16 | 2.47 | 2.32 | 2.23 | 2.14 |
| Cash ratio | 3.18 | 1.51 | 0.85 | 0.80 | 0.83 | 0.90 | 0.81 | 0.82 | 0.69 | 1.02 |
| Leverage | ||||||||||
| Debt / Equity | 0.00 | 0.38 | 0.40 | 0.43 | 0.45 | 0.46 | 0.48 | 0.49 | 0.50 | 0.49 |
| Debt / Assets | 0.00 | 0.22 | 0.22 | 0.23 | 0.24 | 0.23 | 0.25 | 0.25 | 0.25 | 0.24 |
| Debt / EBITDA | - | - | 13.55 | 14.40 | 712.18 | - | 35.33 | 38.28 | - | - |
| Interest coverage | -4.1x | - | 1.1x | 0.8x | -0.7x | - | -0.2x | -0.2x | -2.0x | - |
| Equity multiplier | 1.18 | 1.72 | 1.79 | 1.83 | 1.86 | 1.96 | 1.93 | 1.97 | 2.00 | 2.06 |
| Liabilities / Assets | 0.15 | 0.42 | 0.44 | 0.45 | 0.46 | 0.49 | 0.48 | 0.49 | 0.50 | 0.51 |
| Efficiency | ||||||||||
| Asset turnover | 0.21 | - | 0.28 | 0.28 | 0.25 | - | 0.25 | 0.25 | 0.22 | - |
| Inventory turnover | 0.33 | - | 0.35 | 0.40 | 0.38 | - | 0.42 | 0.45 | 0.32 | - |
| Days sales outstanding | 168d | - | 187d | 181d | 198d | - | 185d | 192d | 214d | - |
| Days inventory outstanding | 1101d | - | 1051d | 917d | 951d | - | 878d | 814d | 1152d | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | 1784.0x | 1085.0x | - | - | - | - | - | - |
| P / B | 7.0x | - | 7.2x | 4.6x | 7.9x | - | 6.2x | 3.3x | 3.7x | - |
| P / S | 27.8x | - | 14.6x | 9.2x | 17.2x | - | 12.6x | 6.6x | 8.4x | - |
| EV / EBITDA | - | - | 253.2x | 164.8x | 12923.8x | - | 481.2x | 280.2x | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 26.6% | - | 23.5% | 18.3% | 17.4% | - | 17.9% | 25.6% | 12.9% | - |
| Revenue CAGR (3y) | 18.8% | - | 17.6% | 18.0% | 16.1% | - | 16.0% | 12.6% | 10.1% | - |
| Revenue CAGR (5y) | 14.6% | - | 12.4% | 20.7% | 14.9% | - | 11.2% | 12.4% | 12.2% | - |
| Gross profit growth (YoY) | 32.2% | - | 26.2% | 18.9% | 7.1% | - | 9.7% | 14.3% | 8.9% | - |
| Operating income growth (YoY) | -70.5% | - | - | - | 63.6% | - | 92.1% | 93.8% | 37.9% | - |
| Net income growth (YoY) | -410.8% | - | - | - | 42.2% | - | 54.6% | 71.2% | 6.2% | - |
| EPS growth (YoY) | -375.0% | - | - | - | 46.7% | - | 60.0% | 75.0% | 11.8% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 90.9% | - | - | - | -1.9% | - | - | - | -12.5% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 132.3% | 24.0% | 21.5% | 17.3% | 13.1% | 8.6% | 1.6% | -1.5% | -4.5% | -5.3% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Geographic
$225.21M totalUS$222.44M · 98.8%
Non Us$2.77M · 1.2%
Peer comparison
Same SIC group: Electromedical & Electrotherapeutic Apparatus
Comparing Axogen against the 5 most active filers in the same SIC group.
Dividends
$0.00/share trailing 12 months
| Ex-date | Per share |
|---|---|
| Jan 27, 2010 | $1.0000 |
| Feb 23, 2005 | $0.0600 |