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MARKETS / NASDAQ / AXGN
NASDAQ · ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS · LARGE CAP

Axogen, Inc. AXGN

16 fiscal years on record · USD · FY2025 reported · SEC filings only
$225.2M
▲ 20.2% YoY
$-15.7M
$-2.9M
▼ 304.5% YoY
In brief

What this company does

Axogen, Inc. offers a portfolio of products for peripheral nerve repair, including Avance, an acellular nerve scaffold approved by the FDA for the treatment of patients with sensory, mixed and motor peripheral nerve discontinuities, and Avance Nerve Graft, a processed human nerve allograft used to bridge severed peripheral nerves. Its products are currently available in the United States, Canada, Germany, the United Kingdom, Spain and several other countries. In 2023, the company transferred Avance Nerve Graft tissue processing and packaging to its Axogen Processing Center facility, a 107,000 square foot building on approximately 8.5 acres of land located in Vandalia, Ohio. As of December 31, 2025, it had 138 direct sales professionals in the United States, and its direct sales force was supplemented by independent sales agencies that represented approximately 8% of its total revenue. As of December 31, 2025, the company had 622 employees, substantially all of whom were full-time.

Written from the business description in Axogen, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 24 February 2026. Every sentence was checked against that document before publication.

Growth
USD 225.2M
Revenue, FY2025 · full 16-year series below
Revenue $M Net income $M
FY2025 · Revenue 225.2 · Net income -15.7
80M160M-10M-20M201020122014201620182020202220242025
Compound annual growth
+17.6%
+14.9%
+23.5%
+33.3%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +14.9% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−7 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -3.5% · Net -7.0%
-50%-100%-150%201020122014201620182020202220242025
ROE
FY2025 · ROE -13.5%
-200%-400%201020122014201620182020202220242025

Each USD of equity lost 13 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -2.9
-20M-40M201020122014201620182020202220242025

Total assetsUSD 221.7M
EquityUSD 128.8M
CashUSD 35.5M
Gross debtUSD 48.4M
Net debtUSD 12.8M
Current ratio5.11×

Net debt stands at 10% of equity.

The 16-year record
16 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022202120202019201820172016201520142013201220112010
Revenue $B0.20.20.20.10.10.10.10.10.10.00.00.00.00.00.00.0
Operating income $B−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
EBITDA $B−0.00.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
Income tax $B0.00.00.00.00.00.00.00.00.00.00.00.00.0−0.0··
Net income $B−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
Free cash flow $B−0.00.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0·
EPS, diluted $−0.34−0.23−0.51−0.69−0.65−0.60−0.74−0.60−0.31−0.47−0.51−0.99−1.08−0.85−2.77−8.35
Dividend / sh $················
Payout %················
ROE %−13.5−10.0−22.1−27.1−22.9−18.6−20.9−26.0−52.1−124.7···−581.0··
Shares out B0.050.040.040.040.040.040.040.040.030.030.030.020.020.010.010.00

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 79 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 16 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityElectromedical & Electrotherapeutic Apparatus
Listed onNASDAQ
Incorporated inMinnesota
Fiscal year endsDecember 31
Data on record since2009

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