Axogen, Inc.
AXGN- Exchange
- Nasdaq
- Industry
- Electromedical & Electrotherapeutic Apparatus
- SEC CIK
- 0000805928
In the last 90 days, Axogen, Inc. insiders filed 0 open-market purchases and 1 sale; 255 institutions reported holding it in 13F filings for Q2 2026, worth $2.43B in total; no superinvestor holds it.
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Oct 29, 2026, 1:11 AM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Net loss for FY2025: $15.7M (7.0% of revenue).
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jan 12, 2026 | Jan 10, 2025 | Jan 4, 2024 | Jan 9, 2023 | Jan 10, 2022 |
| Revenue | $225.2M | $187.3M | $159.0M | $138.6M | $127.4M |
| Cost of revenue | $57.9M | $45.4M | $31.1M | $24.1M | $22.9M |
| Gross profit | $167.4M | $142.0M | $127.9M | $114.4M | $104.4M |
| Research and development | $32.9M | $27.8M | $28.3M | $27.2M | $24.2M |
| Selling, general and administrative | $44.6M | $39.0M | $34.9M | $36.8M | $32.3M |
| Operating income | -$7.85M | -$3.29M | -$21.5M | -$29.7M | -$25.4M |
| Interest expense | – | – | $2.83M | $624.0K | $1.36M |
| Income tax | $0 | $0 | $0 | $0 | $0 |
| Net income | -$15.7M | -$9.96M | -$21.7M | -$28.9M | -$27.0M |
| EPS, basic | $-0.34 | $-0.23 | $-0.51 | $-0.69 | $-0.65 |
| EPS, diluted | $-0.34 | $-0.23 | $-0.51 | $-0.69 | $-0.65 |
| Weighted shares, basic | 46.1M | 44.3M | 42.9M | 42.1M | 41.2M |
| Weighted shares, diluted | 46.1M | 44.3M | 42.9M | 42.1M | 41.2M |
| Margins and growth | |||||
| Gross margin | 74.3% | 75.8% | 80.4% | 82.6% | 82.0% |
| Operating margin | -3.5% | -1.8% | -13.5% | -21.4% | -20.0% |
| Net margin | -7.0% | -5.3% | -13.7% | -20.9% | -21.2% |
| Revenue growth, year over year | +20.2% | +17.8% | +14.7% | +8.8% | +13.4% |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jan 12, 2026 | Jan 10, 2025 | Jan 4, 2024 | Jan 9, 2023 | Jan 10, 2022 |
| Cash and equivalents | $35.5M | $27.6M | $31.0M | $15.3M | $32.8M |
| Short-term investments | $5.98M | $5.93M | $0 | $33.5M | $51.3M |
| Accounts receivable | $26.2M | $24.1M | $25.1M | $22.2M | $18.2M |
| Inventory | $42.4M | $33.2M | $23.0M | $18.9M | $16.7M |
| Total current assets | $120.4M | $99.2M | $88.0M | $98.1M | $127.0M |
| Property, plant and equipment | – | – | – | – | $62.9M |
| Intangible assets | $6.75M | $5.58M | $4.53M | $3.65M | $2.86M |
| Total assets | $221.7M | $203.7M | $196.8M | $195.4M | $208.0M |
| Accounts payable | $2.89M | $8.01M | $11.8M | $8.96M | $5.92M |
| Total current liabilities | $23.6M | $30.6M | $30.4M | $23.8M | $24.3M |
| Long-term debt | $48.4M | $47.5M | $46.6M | $45.7M | $44.8M |
| Total liabilities | $92.8M | $99.8M | $101.2M | $94.4M | $95.5M |
| Shareholders' equity | $128.8M | $103.9M | $95.7M | $101.0M | $112.5M |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jan 12, 2026 | Jan 10, 2025 | Jan 4, 2024 | Jan 9, 2023 | Jan 10, 2022 |
| Operating cash flow | $812.0K | $4.54M | -$5.72M | -$16.1M | -$13.4M |
| Capital expenditures | $3.75M | $3.10M | $13.9M | $20.1M | $27.8M |
| Free cash flow | -$2.93M | $1.43M | -$19.6M | -$36.1M | -$41.2M |
| Depreciation and amortization | $6.66M | $6.47M | $4.22M | $2.83M | – |
| Stock-based compensation | $30.1M | $15.9M | $14.4M | $15.6M | $10.9M |
| Investing cash flow | -$5.32M | -$10.3M | $19.3M | -$3.20M | -$23.6M |
| Financing cash flow | $10.5M | $2.29M | $1.95M | $1.79M | $20.5M |
| Net change in cash | $5.99M | -$3.47M | $15.5M | -$17.5M | -$16.6M |
| Ratio | |||||
| Stock-based compensation, % of revenue | 13.4% | 8.5% | 9.1% | 11.3% | 8.6% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
| Cover date | Shares outstanding | Change in a year | Filing |
|---|---|---|---|
| Oct 26, 2026 | 59.7M | +29.5% | SEC |
| Jul 27, 2026 | 53.8M | +16.8% | SEC |
| Apr 24, 2026 | 53.2M | +16.8% | SEC |
| Feb 20, 2026 | 51.9M | +17.0% | SEC |
| Oct 27, 2025 | 46.1M | +4.8% | SEC |
| Jul 31, 2025 | 46.0M | +5.0% | SEC |
| May 5, 2025 | 45.5M | +4.2% | SEC |
| Feb 19, 2025 | 44.3M | +2.6% | SEC |
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.