AxoGen Inc

NASDAQ:AXGNUnited States

Nov 7, 2024

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• -- Earnings Flash (AXGN) AXOGEN Reports Q3 EPS $0.07, from 7:16AM ET on Thursday Nov 07, 2024 by MT Newswires

  7:16AM ET on Thursday Nov 07, 2024 by MT Newswires
  Companies Mentioned: AXGN
  07:16 AM EST, 11/07/2024 (MT Newswires) -- ...

• -- Earnings Flash (AXGN) AXOGEN Reports Q3 Revenue $48.6M, from 7:16AM ET on Thursday Nov 07, 2024 by MT Newswires

  7:16AM ET on Thursday Nov 07, 2024 by MT Newswires
  Companies Mentioned: AXGN
  07:16 AM EST, 11/07/2024 (MT Newswires) -- ...

• Axogen, Inc Reports Third Quarter 2024 Financial Results and Provides BLA Update, from 7:00AM ET on Thursday Nov 07, 2024 by Dow Jones

  7:00AM ET on Thursday Nov 07, 2024 by Dow Jones
  Companies Mentioned: AXGN
  diluted 43,882,110 43,022,328 43,610,481 42,821,284 ========== ========== ========== ========== Loss per common share -- basic and diluted $ (0.04) $ (0.10) $ (0.24) $ (0.42) Non cash stock-based compensation expense $ 0.11 $ 0.11 $ 0.29 $ 0.31 Adjusted net income (loss) per common share - basis and diluted - non GAAP $ 0.07 $ 0.01 $ 0.05 $ (0.11) ========== ========== ========== ========== AXOGEN, INC. CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (unaudited) (In thousands, except per share) Common Stock ------------------ Additional Total Paid-in Accumulated Shareholders' Shares Amount Capital Deficit Equity ---------- ------ ------------ ------------- ----------------- Three Months Ended September 30, 2024 Balance at June 30, 2024 43,824,738 $ 438 $ 385,101 $ (289,852) 95,687 Net loss -- -- -- (1,858) (1,858) Stock-based compensation -- -- 5,004 -- 5,004 Issuance of restricted and performance stock units 112,185 1 (1) -- -- Exercise of stock options and employee stock purchase plan 65,400 1 573 -- 574 ---------- ----- ------- -------- ---------- Balance at September 30, 2024 44,002,323 $ 440 $ 390,677 $ (291,710) 99,407 ========== ===== ======= ======== ========== Nine Months Ended September 30, 2024 Balance at December 31, 2023 43,124,496 $ 431 $ 376,530 $ (281,296) $ 95,665,197 Net loss -- -- -- (10,414) (10,414) Stock-based compensation -- -- 12,830 -- 12,830 Issuance of restricted and performance stock units 695,571 7 (7) -- -- Exercise of stock options and employee stock purchase plan 182,256 2 1,324 -- 1,326 ---------- ----- ------- -------- ---------- Balance at September 30, 2024 44,002,323 $ 440 $ 390,677 $ (291,710) $ 99,407 ========== ===== ======= ======== ---------- Three Months Ended September 30, 2023 Balance at June 30, 2023 42,979,541 $ 430 $ 370,036 $ (273,314) 97,152 Net loss -- -- -- (4,089) (4,089) Stock-based compensation -- -- 4,747 -- 4,747 Issuance of restricted and performance stock units 59,858 -- -- -- -- Exercise of stock options and employee stock purchase plan -- -- -- -- -- ---------- ----- ------- -------- ---------- Balance at September 30, 2023 43,039,399 $ 430 $ 374,783 $ (277,403) $ 97,810 ========== ===== ======= ======== ========== Nine Months Ended September 30, 2023 Balance at December 31, 2022 42,445,517 $ 424 $ 360,155 $ (259,580) $ 100,999 Net loss -- -- -- (17,823) (17,823) Stock-based compensation -- -- 13,091 -- 13,091 Issuance of restricted and performance stock units 356,236 4 (4) -- -- Exercise of stock options and employee stock purchase plan 237,646 2 1,541 -- 1,543 ---------- ----- ------- -------- ---------- Balance at September 30, 2023 43,039,399 $ 430 $ 374,783 $ (277,403) $ 97,810 ========== ===== ======= ======== ========== AXOGEN, INC. Condensed Consolidated Statements of Cash Flows (unaudited) Nine Months Ended ---------------------------- ---------------------------------------------- September 30, 2024 September 30, 2023 ---------------------- ---------------------- Cash flows from operating activities: Net loss $ (10,414) $ (17,823) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation 4,831 2,660 Amortization of right-of-use assets 889 826 Amortization of intangible assets 202 214 Amortization of debt discount and deferred financing fees 669 666 Provision for (recovery of) bad debt 604 (311) Change in fair value of derivatives (542) (649) Investment (gains) loss (95) (660) Share-based compensation 12,830 13,091 Change in operating assets and liabilities: Accounts receivable (85) (766) Inventory (6,343) (4,114) Prepaid expenses and other 1,189 (623) Accounts payable and accrued expenses (7,125) 3,012 Operating lease obligations (1,303) (1,012) Cash paid for interest portion of finance leases (2) (2) Other liabilities 495 (14) -------------- -------------- Net cash used in operating activities $ (4,200) $ (5,505) -------------- -------------- Cash flows from investing activities: Purchase of property and equipment $ (2,431) $ (12,409) Purchase of investments (5,773) (10,203) Proceeds from sale of investments -- 42,874 Cash payments for intangible assets (1,280) (732) -------------- -------------- Net cash (used in) provided by investing activities $ (9,484) $ 19,530 -------------- -------------- Cash flows from financing activities: Cash paid for debt portion of finance leases $ (6) $ (7) Proceeds from exercise of stock options and ESPP stock purchases 1,326 1,543 -------------- -------------- Net cash provided by financing activities $ 1,320 $ 1,536 -------------- -------------- Net (decrease) increase in cash, cash equivalents, and restricted cash (12,364) 15,561 Cash, cash equivalents, and restricted cash, beginning of period 37,026 21,535 -------------- -------------- Cash, cash equivalents, and restricted cash, end of period $ 24,662 $ 37,096 ============== ==============
  

• *DJ Axogen 3Q Loss/Shr 4c >AXGN, from 7:00AM ET on Thursday Nov 07, 2024 by Dow Jones

  7:00AM ET on Thursday Nov 07, 2024 by Dow Jones
  Companies Mentioned: AXGN