Wed, Feb 26, 9:12 PM (53 days ago)
**Axogen, Inc. (AXGN) 2024 Annual Financial Summary** For the fiscal year ended December 31, 2024, Axogen, Inc. reported revenues of $187,338, reflecting a 17.8% increase from $159,012 in 2023, primarily driven by a 9% increase in unit volume. Gross profit rose to $141,977, with a gross margin of 75.8%. Operating expenses totaled $145,264, leading to a net loss of $9,964, an improvement from a loss of $21,716 the previous year. The company’s focus on peripheral nerve repair technologies continues, with key products including Avance Nerve Graft and Axoguard series. Axogen is awaiting FDA approval for its BLA submission for Avance Nerve Graft, with a decision expected by September 2025. The company faces risks related to dependency on a limited product range (60% revenue from Avance), potential regulatory changes, and supply chain challenges. Cash and cash equivalents stood at $27,554, with a current asset surplus of $68,607. Future growth strategies include expanding market penetration in trauma centers and enhancing product awareness. The company remains committed to research and development, investing approximately $27.8 million in 2024. Overall, Axogen's financial condition shows positive trends despite ongoing operational challenges.