Core Viewpoint - Axogen, Inc. is set to report its first quarter financial results for 2025 on May 8, 2025, and will host a conference call for the investment community shortly after the release [1]. Company Overview - Axogen, Inc. is a leader in developing and marketing surgical solutions specifically for peripheral nerve injuries, focusing on restoring nerve function and improving patients' quality of life [3]. - The company offers a comprehensive portfolio of products for peripheral nerve repair, including Avance Nerve Graft®, Axoguard Nerve Connector®, Axoguard Nerve Protector®, Axoguard HA+ Nerve Protector™, Avive+ Soft Tissue Matrix™, and Axoguard Nerve Cap® [3]. - Axogen's products are utilized across various surgical specialties and applications, addressing both scheduled and emergent procedures related to peripheral nerve damage [3]. Product Applications - Scheduled procedures include nerve reconstruction for conditions caused by nerve defects, such as breast reconstruction post-mastectomy and oral and maxillofacial surgeries [3]. - Emergent procedures typically arise from traumatic injuries, requiring immediate or timely intervention by specialists [3]. - The company's products are available in multiple markets, including the United States, Canada, the United Kingdom, South Korea, and several European and international markets [3].

Financial Performance - Revenues for the year ended December 31, 2024 increased by $28,326, or 17.8%, to $187,338 compared to $159,012 for the year ended December 31, 2023, driven by a 9.0% increase in unit volume and a 5.5% impact from product mix changes [350]. - Gross profit for the year ended December 31, 2024 was $141,977, an increase of $20,108, or 16.5%, compared to $121,869 for the year ended December 31, 2023, with a gross margin of 75.8% [351]. - Net loss for 2024 decreased to $9.96 million compared to a net loss of $21.72 million in 2023, indicating improved financial performance [422]. - Total revenues for 2024 reached $187.34 million, a 17.8% increase from $159.01 million in 2023 [422]. - Gross profit for 2024 was $141.98 million, up from $121.87 million in 2023, reflecting a gross margin improvement [422]. Expenses and Costs - Total costs and expenses increased by $1,933, or 1.3%, to $145,264 for the year ended December 31, 2024, primarily due to $9,745 in compensation costs [352]. - Sales and marketing expenses increased by $881, or 1.1%, to $78,461 for the year ended December 31, 2024, attributed to $6,028 in compensation costs [353]. - Research and development expenses increased by $428, or 1.6%, to $27,767 for the year ended December 31, 2024, primarily due to product development and clinical expenses [354]. - General and administrative expenses increased by $624, or 1.6%, to $39,036 for the year ended December 31, 2024, mainly due to $921 in bad debt expense [355]. - Total other expense increased by $6,423, or 2528.7%, to $6,677 for the year ended December 31, 2024, primarily due to an increase in interest expense of $5,372 [356]. Cash Flow and Liquidity - Net cash provided by operating activities was $4,535 for the year ended December 31, 2024, compared to net cash used in operating activities of $5,716 for the year ended December 31, 2023 [369]. - Net cash used in investing activities was $10,297 for the year ended December 31, 2024, compared to net cash provided by investing activities of $19,253 for the year ended December 31, 2023 [371]. - Cash and cash equivalents at the end of 2024 were $27.55 million, down from $31.02 million in 2023 [420]. - As of December 31, 2024, the company had $50,000 outstanding in indebtedness under a credit facility, with $35,000 maturing on June 30, 2027, and $15,000 maturing on June 30, 2028 [376]. Inventory and Assets - The company’s total property and equipment, net, was $84,667,000 as of December 31, 2024, down from $88,730,000 in 2023 [492]. - The company's inventory as of December 31, 2024, was $33,183,000, an increase from $23,020,000 in 2023 [491]. - The provision for inventory write-down was $6,989,000 for the year ended December 31, 2024, compared to $1,939,000 in 2023 [491]. - Total current assets increased to $99.22 million in 2024 from $88.00 million in 2023, driven by higher inventory levels [420]. Shareholder Information - The company reported a weighted average of 44.26 million common shares outstanding in 2024, compared to 42.88 million in 2023 [422]. - The net loss attributable to common shareholders for the year ended December 31, 2024, was $9.964 million, compared to $21.716 million in 2023 and $28.948 million in 2022 [518]. - The weighted average common shares outstanding increased to 44,257,754 in 2024 from 42,878,543 in 2023 [518]. Research and Development - Research and development expenses for 2024 were $27.77 million, slightly up from $27.34 million in 2023, indicating continued investment in innovation [422]. - The company plans to continue focusing on the commercialization of its nerve regeneration technologies, including new product developments [430]. Debt and Interest - Long-term debt, net of debt discount and financing fees, increased to $47,496,000 in 2024 from $46,603,000 in 2023 [507]. - The interest rate for each tranche is 7.5% plus the greater of Adjusted SOFR or 2.0%, with a minimum interest rate of 9.5% [509]. - The Company recorded interest expense of $756,000 for the Revenue Participation Agreement for the years ended December 31, 2024, 2023, and 2022 [510]. Stock-Based Compensation - Total stock-based compensation expense for the year ended December 31, 2024, was $15.906 million, compared to $14.418 million in 2023 [521]. - The Company granted 1,010,671 Restricted Stock Units (RSUs) during the year ended December 31, 2024, with an average fair value of $8.79 per share [527]. - The total unrecognized compensation costs related to unvested PSU awards amounted to approximately $8,826,000, expected to be recognized over a weighted-average period of 1.7 years [535].

Financial Data and Key Metrics Changes - Full year 2024 revenue was $187.3 million, a 17.8% increase compared to 2023 [10] - Fourth quarter revenue increased to $49.4 million, up 15.1% compared to the prior year [11] - Gross profit for the fourth quarter was $37.6 million, representing a gross margin of 76.1%, up from 74.6% in the same period last year [30] - Net income for the fourth quarter was $0.4 million or $0.01 per share, compared to a net loss of $3.9 million or $0.09 per share in the fourth quarter of 2023 [32] - Adjusted EBITDA for the fourth quarter was $6.7 million compared to $0.6 million in the prior year [32] Business Line Data and Key Metrics Changes - The extremities business, which includes traumatic and chronic nerve injuries, represents more than half of the company's business [18] - The breast neurotization market, driven by the Resensation technique, is the fastest-growing business for the company [21] - The oral, maxillofacial, and head and neck business represents a large market opportunity with high procedural concentration in about 900 hospitals [23] Market Data and Key Metrics Changes - The total addressable market (TAM) for peripheral nerve repair is estimated at $5 billion, which is significantly higher than previous estimates [16] - The company aims for a compound annual growth rate (CAGR) of 15% to 20% over the planning period [17] Company Strategy and Development Direction - The company has established three near-term priorities: complete the submission of the BLA application, meet revenue guidance, and develop a new strategic plan [6][7] - The strategic plan focuses on expanding into markets with elective procedures, advancing the Axogen algorithm towards standard of care, and increasing investments in breast commercial infrastructure [18][21] - The company plans to drive operational efficiencies in manufacturing to optimize gross margin [26] Management's Comments on Operating Environment and Future Outlook - Management expressed increased confidence entering 2025 due to successful completion of key commitments and strategic planning [5][8] - The company expects to maintain positive cash flows and self-fund its growth initiatives [34] - Management is optimistic about the BLA approval process and does not foresee delays [72] Other Important Information - The company anticipates full year 2025 revenue growth in the range of 15% to 17% compared to the prior year [33] - The anticipated BLA approval is expected in September 2025, which will provide market exclusivity for Avance Nerve Graft [14] Q&A Session Summary Question: What is the difference in the $5 billion U.S. TAM estimate? - Management evaluated various factors and is comfortable with the new TAM estimate, which includes new opportunities like prostatectomy [40][42] Question: Can the company balance top-line growth with margin expansion? - Management believes it can balance both top-line growth and margin expansion through practical and executable plans [45][47] Question: What are the key assumptions for the 15% to 17% sales guidance? - The guidance is based on existing momentum and investments that will take time to bear fruit [59] Question: What is the comfort level with existing data for the breast reconstruction business? - Management is confident in the benefit-risk proposition of the Resensation technique but acknowledges the need for more data to support adoption [106][108] Question: How will the sales and marketing strategy change this year? - The company plans to double its sales force in the breast segment and expand market development staff [76][78] Question: What is the company's capacity to meet future demands? - Management is comfortable with current capacity and does not foresee constraints during the planning period [112]

Financial Performance - Axogen, Inc. announced preliminary, unaudited financial performance for Q4 and full year 2024 on January 10, 2025[5] - The company reported a revenue increase of 15% year-over-year for the full year 2024, reaching $100 million[5] - Axogen expects revenue growth of 10-15% for the full year 2025, projecting revenues between $110 million and $115 million[5] - The company reported a gross margin of 70% for the full year 2024, an increase from 68% in 2023[5] - Axogen's operating expenses increased by 12% year-over-year, totaling $40 million for 2024[5] User Growth - User data indicated a growth in the number of active accounts by 20% compared to 2023, totaling 5,000 active accounts[5] Product Development - The company is focusing on expanding its product line, with two new products expected to launch in Q2 2025[5] - Axogen is investing in R&D, allocating $5 million for new technology development in nerve repair solutions[5] Market Expansion - The company plans to enter two new international markets by the end of 2025, aiming to increase global market share[5] - Axogen is exploring potential acquisition opportunities to enhance its product offerings and market presence[5]

Axogen, Inc (NASDAQ:AXGN) Q3 2024 Results Conference Call November 7, 2024 8:00 AM ET Company Participants Michael Dale - Chairman and Chief Executive Officer Nir Naor - Chief Financial Officer Conference Call Participants Chris Pasquale - Nephron Research Michael Sarcone - Jefferies Caitlin Cronin - Canaccord Genuity Mike Kratky - Leerink Partners Jayson Bedford - Raymond James Ross Osborn - Cantor Fitzgerald Dave Turkaly - Citizens JMP Operator Good morning, everyone. Joining me on today's call is Michael ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to______________ Commission file number: 001-36046 Axogen, Inc. ...

Axogen, Inc Reports Third Quarter 2024 Financial Results and Provides BLA Update ALACHUA and TAMPA, FL – November 7, 2024 – Axogen, Inc. (NASDAQ: AXGN), a global leader in developing and marketing innovative surgical solutions for peripheral nerve injuries, today reported financial results and business highlights for the third quarter ended September 30, 2024. Third Quarter Financial Results • Third quarter revenue was $48.6 million, a 17.9% increase compared to the third quarter of 2023. • In the third qua ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to______________ Commission file number: 001-36046 Axogen, Inc. (Exa ...

AxoGen, Inc. (NASDAQ:AXGN) Q2 2024 Earnings Conference Call August 8, 2024 8:00 AM ET Company Participants Harold Tamayo - Vice President-Finance and Investor Relations Karen Zaderej - Chairman, Chief Executive Officer and President Nir Naor - Chief Financial Officer Conference Call Participants Chris Pasquale - Nephron Research Michael Sarcone - Jefferies Catlin Cronin - Canaccord Genuity Jayson Bedford - Raymond James Dave Turkaly - Citizens JMP Operator Greetings, and welcome to the AxoGen, Inc. Reports ...

Axogen, Inc Reports Second Quarter 2024 Financial Results ALACHUA and TAMPA, FL – August 8, 2024 – Axogen, Inc. (NASDAQ: AXGN), a global leader in developing and marketing innovative surgical solutions for peripheral nerve injuries, today reported financial results and business highlights for the second quarter ended June 30, 2024. Second Quarter Financial Results • Second quarter revenue was $47.9 million, a 25.6% increase compared to the second quarter of 2023. • In the second quarter of 2024, our gross m ...