AxoGen (NASDAQ:AXGN) Announces Earnings Results

AxoGen (NASDAQ:AXGN) announced its earnings results on Tuesday. The medical equipment provider reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.36), Zacks reports. AxoGen had a negative net margin of 0.98% and a negative return on equity of 1.90%. The business had revenue of $59.90 million during the quarter, compared to analysts’ expectations of $59.90 million.

Here are the key takeaways from AxoGen’s conference call:

• Strong 2025 financial performance — Q4 revenue $59.9M (+21.3% YoY) and FY revenue $225.2M (+20.2%), adjusted EBITDA up 41% to $27.9M, cash increased $6M, and the company generated positive cash flow while using $133.3M raised to retire its term loan and strengthen the balance sheet.
• Regulatory milestone — FDA BLA approval for Avance in December 2025 (first/only FDA‑approved biologic for peripheral nerve discontinuities with 12 years exclusivity) which management says enables payer engagement, prioritized clinical studies, and manufacturing scale efforts.
• Commercial momentum and runway — expanded sales force (breast to 21 reps with plan for ~30, extremities to 117 reps with plan for ~130), 679 active high‑potential accounts driving 61% of revenue growth, and continued surgeon education programs to support adoption.
• Near‑term margin and expense headwinds — Q4 net loss of $13.2M (versus prior year income) driven in part by $7.2M of one‑time stock‑based compensation tied to the BLA, materially higher R&D and S&M spend in Q4, and expected gross‑margin pressure in 2Q/H2 2026 as biologic mix increases before projected improvement in 2027.
• Reimbursement and new indications remain promising but early — commercial coverage rose to >65% (≈19.8M lives) and CMS added an outpatient payment classification improving economics, while prostate work (100+ procedures at 10 sites) may produce clinical signals in H2 2026 but is not expected to materially contribute revenue in 2026.

AxoGen Stock Down 8.1%

AxoGen stock opened at $32.50 on Wednesday. The stock’s 50 day moving average price is $33.09 and its 200 day moving average price is $24.85. AxoGen has a 1-year low of $9.22 and a 1-year high of $36.00. The company has a market cap of $1.50 billion, a PE ratio of -650.00 and a beta of 1.00. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.09 and a quick ratio of 2.64.

Insider Transactions at AxoGen

In other AxoGen news, Director Joseph A. Tyndall sold 25,108 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $30.98, for a total value of $777,845.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Johnson sold 23,693 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $31.24, for a total transaction of $740,169.32. Following the completion of the sale, the director owned 13,141 shares of the company’s stock, valued at $410,524.84. This trade represents a 64.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 301,680 shares of company stock valued at $9,174,052 in the last three months. Insiders own 2.78% of the company’s stock.

Institutional Investors Weigh In On AxoGen

A number of institutional investors and hedge funds have recently modified their holdings of AXGN. Royal Bank of Canada raised its stake in shares of AxoGen by 14.2% during the 1st quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock worth $704,000 after buying an additional 4,723 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of AxoGen by 45.3% during the first quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider’s stock worth $442,000 after purchasing an additional 7,453 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of AxoGen by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock valued at $466,000 after purchasing an additional 1,057 shares during the period. Jones Financial Companies Lllp increased its stake in AxoGen by 104,810.0% in the first quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider’s stock valued at $194,000 after purchasing an additional 10,481 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in AxoGen by 37.3% in the second quarter. JPMorgan Chase & Co. now owns 379,070 shares of the medical equipment provider’s stock valued at $4,113,000 after purchasing an additional 103,072 shares during the last quarter. Institutional investors and hedge funds own 80.29% of the company’s stock.

AxoGen News Roundup

Here are the key news stories impacting AxoGen this week:

• Positive Sentiment: Company raised FY‑2026 revenue guidance to about $265.7M versus Street revenue near $258.5M, signaling stronger top‑line growth ahead; management also outlined strategy on the earnings call. MarketBeat Earnings Report
• Positive Sentiment: Analyst upgrade/target change: Citizens JMP raised its price target from $34 to $42 and kept a “market outperform” view, which could support upside if sentiment improves. Benzinga Note
• Positive Sentiment: Earnings‑call commentary and press materials emphasized continued revenue growth and strategic initiatives (commercial execution, product adoption), which underpins the raised guidance. Yahoo Finance Highlights
• Neutral Sentiment: Full earnings‑call transcripts and slide deck are available for investors to parse details on margin drivers and cadence; these materials may clarify timing of margin improvement. Seeking Alpha Transcript
• Negative Sentiment: Reported EPS of $0.07 missed some consensus figures (MarketBeat/Street ~$0.08; Zacks noted a larger gap vs its $0.14 estimate), which disappointed some investors and can pressure near‑term sentiment. Zacks Earnings Miss
• Negative Sentiment: Profitability remains weak: reported negative net margin (~‑0.98%) and negative ROE (~‑1.9%), keeping the stock’s valuation and path to sustained profitability under scrutiny. MarketBeat Metrics

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AXGN. Mizuho initiated coverage on AxoGen in a research report on Monday, December 1st. They issued an “outperform” rating and a $40.00 price target on the stock. Citizens Jmp boosted their target price on AxoGen from $34.00 to $42.00 and gave the company a “market outperform” rating in a report on Tuesday. Citigroup restated an “outperform” rating on shares of AxoGen in a research note on Tuesday. Jefferies Financial Group lifted their price objective on shares of AxoGen from $29.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of AxoGen in a research report on Monday, December 29th. Ten analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.67.

About AxoGen

AxoGen, Inc is a Florida-based medical technology company that develops and commercializes surgical solutions for peripheral nerve damage. Founded in 2002 and headquartered in Alachua, Florida, the company focuses on restoring nerve function and improving patient outcomes through innovative biologic and engineered products. AxoGen’s offerings address a range of traumatic and iatrogenic injuries, offering alternatives to traditional nerve autografts.

The company’s core product portfolio includes the Avance® Nerve Graft, a decellularized human nerve allograft designed to bridge nerve gaps without the need for a secondary harvest site, and the Axoguard® Nerve Connector and Protector devices, which facilitate nerve coaptation and protect repaired sites from surrounding scar tissue.