Axogen, Inc. Reports 2024 Fourth Quarter and Full-Year Financial Results

Core Insights - Axogen, Inc. reported strong financial results for Q4 and full-year 2024, with a focus on expanding its portfolio for peripheral nerve injuries [1][3][4] Financial Results - Q4 2024 revenue reached $49.4 million, marking a 15.1% increase from Q4 2023 [6] - Full-year 2024 revenue was $187.3 million, a 17.8% increase compared to $159.0 million in 2023 [7] - Gross margin for Q4 2024 was 76.1%, up from 74.6% in Q4 2023, while full-year gross margin was 75.8%, slightly down from 76.6% in 2023 [6][7] - Q4 2024 net income was $0.4 million, or $0.01 per share, compared to a net loss of $3.9 million, or $0.09 per share in Q4 2023 [6] - Full-year net loss for 2024 was $10.0 million, or $0.23 per share, an improvement from a net loss of $21.7 million, or $0.51 per share in 2023 [7] Operational Highlights - The company experienced broad-based revenue growth driven by improved commercial execution and new product adoption [7] - The FDA accepted the filing of the Biologics License Application for Avance Nerve Graft on November 1, 2024, with a PDUFA goal date set for September 5, 2025 [7] - An Investor Day is scheduled for March 4, 2025, to discuss strategic plans for 2025-2028 [7][8] Future Guidance - Axogen expects revenue growth in the range of 15% to 17% for 2025, with gross margin anticipated between 73% and 75% [9] - The company aims to achieve net cash flow positivity for the full year 2025 [9]