AxoGen ( (AXGN) ) has released its Q3 earnings. Here is a breakdown of the information AxoGen presented to its investors.
Axogen, Inc. is a leading company dedicated to the development and commercialization of technologies for peripheral nerve regeneration and repair, offering a comprehensive portfolio of products aimed at restoring nerve function and improving the quality of life for patients. In its latest earnings report for the third quarter of 2024, Axogen reported a significant revenue increase of 17.9% compared to the same period last year, reaching $48.6 million. Despite a decrease in gross margin to 74.9%, the company achieved an adjusted net income of $3.1 million, showing a notable improvement from the previous year’s adjusted net loss.
The company’s EBITDA also saw a substantial rise to $6.5 million, and its cash and investments grew to $30.5 million by the end of September. Axogen highlighted the broad-based revenue growth across its nerve repair and protection applications, demonstrating enhanced commercial execution. Additionally, the FDA’s acceptance of Axogen’s Biologics License Application for the Avance Nerve Graft marks a crucial step forward, with a review goal date set for September 2025.
Looking ahead, Axogen maintains its full-year revenue guidance between $182 million and $186 million, expecting to hit the higher end of its gross margin forecast. The company also projects being net cash flow positive from April through the year’s end, reflecting confidence in its strategic direction and market potential.
