CoverageForm 410-K10-Q8-K13D13G13F

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.

Price · AXGN

Income Statement

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Revenue$225.21M$187.34M$159.01M$138.58M$127.36M$112.30M
Cost of Revenue$57.85M$45.36M$31.14M$24.15M$22.93M$21.58M
Gross Profit$167.35M$141.98M$127.87M$114.44M$104.43M$90.72M
R&D$32.88M$27.77M$28.33M$27.16M$24.18M$17.85M
SG&A$44.58M$39.04M$34.94M$36.76M$32.34M$26.40M
Total Operating Expenses$175.20M$145.26M$149.34M$144.14M$129.84M$113.90M
D&A$6.66M$6.47M$4.22M$1.53M$2.72M$1.51M
Operating Income($7.85M)($3.29M)($21.46M)($29.71M)($25.42M)($23.18M)
Interest Expense$7.70M$8.21M$2.83M$624.0K$1.36M$1.05M
Income Tax$0$0$0$0$0$0
Net Income($15.70M)($9.96M)($21.72M)($28.95M)($26.98M)($23.79M)
EPS - Basic($0.34)($0.23)($0.51)($0.69)($0.60)-
EPS - Diluted($0.34)($0.23)($0.51)($0.69)($0.60)-

Balance Sheet

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Cash & Equivalents$35.55M$27.55M$31.02M$15.28M$32.76M$48.77M
Accounts Receivable$26.17M$24.11M$25.15M$22.19M$18.16M$17.62M
Inventory$42.37M$33.18M$23.02M$18.91M$16.69M$12.53M
Accounts Payable$2.89M$8.01M$11.77M$8.96M$5.92M$4.60M
Current Assets$120.42M$99.22M$88.00M$98.08M$127.05M$145.25M
Total Assets$221.69M$203.73M$196.83M$195.39M$208.02M$201.38M
Current Liabilities$23.56M$30.61M$30.43M$23.75M$24.29M$22.83M
Long-term Debt$48.39M$47.50M$46.60M$45.71M$44.82M$32.03M
Total Liabilities$92.84M$99.82M$101.16M$94.39M$95.47M$78.23M
Stockholders' Equity$128.85M$103.91M$95.67M$101.00M$112.55M$123.15M
Retained Earnings($306.96M)($291.26M)($281.30M)($259.58M)($230.63M)($203.65M)

Cash Flow

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Operating Cash Flow$812.0K$4.54M($5.72M)($16.07M)($13.40M)($9.63M)
Investing Cash Flow($5.32M)($10.30M)$19.25M($3.20M)($23.65M)($16.96M)
Financing Cash Flow$10.50M$2.29M$1.95M$1.79M$20.45M$40.47M
CapEx$3.75M$3.10M$13.87M$20.08M$27.81M$21.91M
Free Cash Flow($2.93M)$1.43M($19.59M)($36.14M)($41.22M)($31.53M)

Ratios

MetricFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Profitability
Gross margin74.3%75.8%80.4%82.6%82.0%80.8%
Operating margin-3.5%-1.8%-13.5%-21.4%-20.0%-20.6%
EBITDA margin-0.5%1.7%-10.8%-20.3%-17.8%-19.3%
Net margin-7.0%-5.3%-13.7%-20.9%-21.2%-21.2%
Free cash flow margin-1.3%0.8%-12.3%-26.1%-32.4%-28.1%
FCF / Net income0.19-0.140.901.251.531.33
R&D / Revenue14.6%14.8%17.8%19.6%19.0%15.9%
SG&A / Revenue19.8%20.8%22.0%26.5%25.4%23.5%
Effective tax rate------
Return on assets-7.1%-4.9%-11.0%-14.8%-13.0%-11.8%
Return on equity-12.2%-9.6%-22.7%-28.7%-24.0%-19.3%
Return on invested capital-3.5%-1.7%-11.9%-16.0%-12.8%-11.8%
Liquidity
Current ratio5.113.242.894.135.236.36
Quick ratio3.312.162.143.334.545.81
Cash ratio1.510.901.020.641.352.14
Leverage
Debt / Equity0.380.460.490.450.400.26
Debt / Assets0.220.230.240.230.220.16
Debt / EBITDA-14.94----
Interest coverage-1.0x-0.4x-7.6x-47.6x-18.7x-22.0x
Equity multiplier1.721.962.061.931.851.64
Liabilities / Assets0.420.490.510.480.460.39
Efficiency
Asset turnover1.020.920.810.710.610.56
Inventory turnover1.371.371.351.281.371.72
Days sales outstanding42d47d58d58d52d57d
Days inventory outstanding267d267d270d286d266d212d
Days payable outstanding18d64d138d135d94d78d
Cash conversion cycle292d250d190d209d223d191d
Valuation
P / E------
P / B11.7x7.0x3.1x4.2x3.3x-
P / S6.7x3.9x1.8x3.0x2.9x-
EV / EBITDA-235.6x----
Growth
Revenue growth (YoY)20.2%17.8%14.7%8.8%13.4%5.2%
Revenue CAGR (3y)17.6%13.7%12.3%9.1%14.9%22.9%
Revenue CAGR (5y)14.9%11.9%13.6%18.1%25.4%32.7%
Gross profit growth (YoY)17.9%11.0%11.7%9.6%15.1%1.5%
Operating income growth (YoY)-138.8%84.7%27.8%-16.9%-9.6%26.2%
Net income growth (YoY)-57.6%54.1%25.0%-7.3%-13.4%18.4%
EPS growth (YoY)-47.8%54.9%26.1%-15.0%--
EPS CAGR (3y)------
EPS CAGR (5y)------
FCF growth (YoY)--45.8%12.3%-30.7%-28.5%
FCF CAGR (5y)------
Book value growth (YoY)24.0%8.6%-5.3%-10.3%-8.6%-6.8%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-12-31.

Geographic

$225.21M total
US$222.44M · 98.8%
Non Us$2.77M · 1.2%

Stability scores

Altman Z′

FY 2025 · bankruptcy risk

0.63
Distress

Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.

Piotroski F-score

FY 2025 · 9-point quality

4/9
Neutral
  • Net income positive
  • Operating cash flow positive
  • ROA improved YoY
  • Cash flow > net income
  • Long-term debt decreased
  • Current ratio improved
  • No share dilution
  • Gross margin improved
  • Asset turnover improved

Peer comparison

Same SIC group: Electromedical & Electrotherapeutic Apparatus

CompanyRevenue (last FY)Net marginROE
BLFS---1.2%
OM$119.48M-68.3%-64.3%
ITGR$1.85B5.5%5.9%
TMDX$605.49M31.4%40.2%
MDT---

Comparing Axogen against the 5 most active filers in the same SIC group.

Dividends

$0.00/share trailing 12 months

Ex-datePer share
Jan 27, 2010$1.0000
Feb 23, 2005$0.0600