AxoGen (NASDAQ:AXGN) Releases Quarterly Earnings Results, Misses Estimates By $0.36 EPS

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

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 Price Performance

NASDAQ:AXGN opened at $33.54 on Tuesday. The firm’s fifty day moving average is $33.02 and its two-hundred day moving average is $24.72. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -665.56 and a beta of 1.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.64 and a current ratio of 4.09. AxoGen has a one year low of $9.22 and a one year high of $36.00.

Insiders Place Their Bets

In other news, Director Joseph A. Tyndall sold 25,108 shares of the company’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $30.98, for a total value of $777,845.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Amy Mcbride Wendell sold 43,684 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $29.31, for a total value of $1,280,378.04. Following the sale, the director directly owned 93,826 shares in the company, valued at approximately $2,750,040.06. This trade represents a 31.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 301,680 shares of company stock worth $9,174,052. 2.78% of the stock is currently owned by company insiders.

Institutional Trading of AxoGen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AXGN. Royal Bank of Canada increased its holdings in AxoGen by 14.2% in the first quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock valued at $704,000 after buying an additional 4,723 shares in the last quarter. AQR Capital Management LLC grew its position in shares of AxoGen by 45.3% during the 1st quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider’s stock valued at $442,000 after acquiring an additional 7,453 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of AxoGen by 4.4% in the 1st 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 in the last quarter. Jones Financial Companies Lllp raised its holdings in AxoGen by 104,810.0% in the 1st quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider’s stock worth $194,000 after purchasing an additional 10,481 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in AxoGen by 37.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 379,070 shares of the medical equipment provider’s stock worth $4,113,000 after purchasing an additional 103,072 shares during the period. Institutional investors and hedge funds own 80.29% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on AXGN shares. Jefferies Financial Group raised their price target on shares of AxoGen from $29.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Wall Street Zen upgraded AxoGen from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AxoGen in a research report on Monday, December 29th. Citizens Jmp boosted their price target on AxoGen from $34.00 to $42.00 and gave the company a “market outperform” rating in a research note on Tuesday. Finally, Mizuho assumed coverage on AxoGen in a research note on Monday, December 1st. They issued an “outperform” rating and a $40.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.