AxoGen (AXGN) AI Stock Analysis

• Market Cap: $503.72M
• Dividend Yield: N/A
• Average Volume (3M): 612.33K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.04
• Revenue Growth: 18.81%
• EPS Growth: 67.41%
• Country: US
• Employees: 451
• Sector: Healthcare
• Sector Strength: 39
• Industry: Medical - Devices
• EPS (TTM): -0.02
• Shares Outstanding: 45,544,044
• 10 Day Avg. Volume: 742,308
• 30 Day Avg. Volume: 612,327
• PEG Ratio: 3.48
• Price to Book (P/B): 4.16
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -11.25
• Enterprise Value/Market Cap: 1.33
• Enterprise Value/Revenue: 0.91
• Enterprise Value/Gross Profit: 4.64
• Enterprise Value/Ebitda: 46.37
• 1Y Price Target: $24.00
• Price Target Upside: 119.58% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5

• Rating: 59 Neutral
• Price Target: $10.50 ▼(-3.93%Downside)

AxoGen's overall stock score reflects a company in transition. Strong revenue growth and strategic advancements, noted in the earnings call, are key positives. However, ongoing profitability challenges, reflected in the financial performance and valuation scores, weigh on the overall assessment. Technical indicators suggest caution, with the stock showing a bearish trend.

Positive Factors

Product Demand

HPAs performed well during the quarter with +5% year-over-year active HPA growth and +24% year-over-year HPA productivity growth, suggesting robust demand for the AXGN portfolio of products.

Revenue Growth

Management noted +17% y/y revenue growth was driven by enhanced sales productivity and commercial execution, which provides incremental confidence in the +15-20% LRP revenue CAGR.

Negative Factors

Financial Performance

Lower-than-expected gross and Adjusted EBITDA in 1Q25 margin may prompt investor questions.

Stock Valuation

AXGN now trades at a discount to its 5-year average and its small-cap growth peers due to peer group compression and lower gross margin trends.

AxoGen Business Overview & Revenue Model

Company Description

AxoGen, Inc., together with its subsidiaries, develops and markets surgical solutions for physical damage or transection to peripheral nerves. The company's products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed peripheral nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments. Its products also comprise Axoguard Nerve Cap, a porcine submucosa ECM product that is used to protect a peripheral nerve end, as well as separates the nerve from the surrounding environment to reduce the development of symptomatic or painful neuroma; and Avive Soft Tissue Membrane, a processed human umbilical cord membrane that can be used as a resorbable soft tissue covering to separate tissues in the surgical bed. In addition, the company offers AxoTouch two point discriminator, a tool that is used for measuring the innervation density of surface area of the skin. It provides its products to hospitals, surgery centers, and military hospitals plastic reconstructive surgeons, orthopedic and plastic hand surgeons, and various oral and maxillofacial surgeons in the United States, Canada, Germany, the United Kingdom and other European countries, South Korea, and internationally. AxoGen, Inc. is headquartered in Alachua, Florida.

How the Company Makes Money

AxoGen generates revenue primarily through the sale of its nerve repair products to hospitals and surgical centers. The company markets its products directly to healthcare providers, leveraging a specialized sales force to promote the adoption of its solutions in nerve repair surgeries. Key revenue streams include the sales of Avance Nerve Graft, which is the flagship product, as well as AxoGuard Nerve Connector and AxoGuard Nerve Protector. AxoGen's earnings are bolstered by its strategic partnerships with medical institutions and its investment in clinical research to validate the efficacy of its products. The company also benefits from its proprietary processing methodologies and technologies, which enhance its competitive position in the nerve repair market.

AxoGen Financial Statement Overview

Summary

AxoGen is experiencing revenue growth and improved cash flows, but profitability remains a challenge. Despite strong gross margins and a conservative balance sheet, ongoing net losses and a negative ROE highlight the need for strategic improvements.

Income Statement

AxoGen has shown a consistent revenue growth trend with a 13.6% increase from 2023 to TTM and a 19.3% increase from 2022 to 2023. Gross profit margins have been strong at approximately 74.2% in TTM. However, the company remains unprofitable with negative net and EBIT margins, indicating ongoing operational challenges.

Balance Sheet

The company shows a stable equity position with a debt-to-equity ratio of 0.20 in TTM, which is a significant improvement compared to previous periods. The equity ratio remains strong at 53.7% in TTM, suggesting a solid asset base. However, the negative ROE of -6.8% in TTM reflects ongoing profitability issues.

Cash Flow

AxoGen's cash flow situation is improving, with a positive free cash flow in TTM. The operating cash flow to net income ratio is negative due to persistent net losses, indicating cash flow challenges despite improved cash generation from operations. The free cash flow growth rate is encouraging, showing a turnaround from previous periods.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	194.52M	187.34M	159.01M	138.58M	127.36M	112.30M
Gross Profit	144.29M	141.98M	127.87M	114.44M	104.43M	90.72M
EBITDA	8.79M	6.08M	-13.33M	-23.47M	-20.89M	-19.27M
Net Income	-7.16M	-9.96M	-21.72M	-27.34M	-28.06M	-24.80M
Balance Sheet
Total Assets	196.16M	203.73M	196.83M	195.39M	208.02M	201.38M
Cash, Cash Equivalents and Short-Term Investments	18.10M	33.48M	31.02M	48.79M	84.09M	103.97M
Total Debt	20.73M	68.69M	69.29M	67.43M	67.45M	53.76M
Total Liabilities	90.80M	99.82M	101.16M	94.39M	95.47M	78.23M
Stockholders Equity	105.36M	103.91M	95.67M	101.00M	112.55M	123.15M
Cash Flow
Free Cash Flow	1.46M	11.00K	-20.63M	-37.32M	-41.80M	-32.22M
Operating Cash Flow	3.62M	4.54M	-5.72M	-16.07M	-13.40M	-9.63M
Investing Cash Flow	-5.71M	-10.30M	19.25M	-3.20M	-23.65M	-16.96M
Financing Cash Flow	4.47M	2.29M	1.95M	1.79M	20.45M	40.47M

AxoGen Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 10.93
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AXGN, the sentiment is Neutral. The current price of 10.93 is above the 20-day moving average (MA) of 10.30, below the 50-day MA of 12.04, and below the 200-day MA of 14.95, indicating a neutral trend. The MACD of -0.27 indicates Negative momentum. The RSI at 50.86 is Neutral, neither overbought nor oversold. The STOCH value of 90.32 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AXGN.

AxoGen Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SIBN	65 Neutral	$787.09M	―	-15.96%	―	22.60%	41.26%
AXGN	59 Neutral	$503.72M	―	-7.22%	―	18.81%	67.41%
CBLL	59 Neutral	$673.34M	―	26.25%	―	―	―
Sector *	52 Neutral	$7.50B	0.31	-61.87%	2.27%	17.10%	1.59%
BVS	50 Neutral	$576.65M	―	-19.79%	―	8.60%	-42.76%
OFIX	49 Neutral	$435.69M	―	-27.82%	―	5.85%	-8.92%
AVNS	48 Neutral	$572.50M	45.80	-36.78%	―	1.34%	-530.36%

AxoGen Corporate Events

AxoGen Holds Annual Shareholder Meeting with Key Votes

On June 18, 2025, AxoGen, Inc. held its annual meeting of shareholders where five proposals were voted on, including the election of eight directors, ratification of Deloitte & Touche LLP as auditors, approval of executive compensation, amendment of the long-term incentive plan, and the frequency of future votes on executive compensation. The outcomes of these votes are expected to influence the company’s governance and operational strategies, potentially impacting its market positioning and stakeholder engagement.

The most recent analyst rating on (AXGN) stock is a Buy with a $20.00 price target. To see the full list of analyst forecasts on AxoGen stock, see the AXGN Stock Forecast page.

AxoGen Expects Minimal Impact from New Tariffs

On April 2, 2025, President Donald J. Trump announced a plan to impose tariffs on imported goods into the United States. AxoGen, Inc. expects minimal impact from these tariffs and any retaliatory measures on its financials and business model, as the majority of its sales and manufacturing are domestic, and its reliance on imported materials is minimal.