Axogen Q1 2024 revenue $41.4M (+12.9% YoY); net loss narrows to $6.6M; adj EBITDA turns positive

Axogen, Inc.

2024-Q1 EPS reported -$0.15 revenue$41,378,000

Revenue $41.4M, up 12.9% YoY; gross margin improved to 78.8% from 77.7%.
Net loss $6.6M ($0.15/sh) vs $7.1M ($0.17/sh) in Q1 2023; adjusted net loss $2.7M ($0.06/sh).
Adjusted EBITDA positive at $1.0M vs loss of $3.8M in prior year.
Cash & investments $23.6M as of March 31, 2024, down from $37.0M at Dec 31, 2023.
Reaffirmed FY2024 revenue guidance $177M-$181M; gross margin 76%-79%; expects positive net cash flow Apr-Dec 2024.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Axogen, Inc. reported full year 2024 results: revenue 177 million to 181 million. Guidance reaffirmed.

Period: full year 2024
Revenue: 177 million to 181 million
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

We are maintaining our annual revenue guidance in the range of $177 million to $181 million, which represents a growth rate of approximately 11% to 14%.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Axogen, Inc. reported first quarter ended March 31, 2024 results: revenue 41.4 million, net income -6.6 million, EPS -0.15. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: 41.4 million
Net income: -6.6 million
EPS: -0.15
Guidance: reaffirmed
Result: reported results

Exact text from the filing

First quarter revenue was $41.4 million, a 12.9% increase compared to the first quarter of 2023.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Axogen, Inc. reported first quarter ended March 31, 2024 results: revenue 41.4 million, net income -6.6 million, EPS -0.15. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: 41.4 million
Net income: -6.6 million
EPS: -0.15
Guidance: reaffirmed
Result: reported results

Exact text from the filing

nerve injuries, today reported financial results and business highlights fo r the first quarter ended March 31, 2024. First Quarter Financial Results • First quarter revenue was $41.4 million, a 12.9% increase compared to the first quarter of 2023. • In the first quarter of 2024, our gross margin increased to 78.8%, up from 77.7%, as reclassified* in the same quarter

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Source: SEC EDGAR

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