Axogen, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $225.2M | $187.3M | $159.0M | $138.6M | $127.4M |
| Cost of revenue | $57.9M | $45.4M | $37.1M | $29.8M | $22.9M |
| Gross profit | $167.4M | $142.0M | $121.9M | $108.8M | $104.4M |
| Research and development | $32.9M | $27.8M | $27.3M | $25.6M | $24.2M |
| Operating income | -$7.8M | -$3.3M | -$21.5M | -$29.7M | -$25.4M |
| Interest expense | $7.7M | $8.2M | $2.8M | $624,000 | $1.4M |
| Income tax expense | $0 | $0 | $0 | $0 | $0 |
| Net income | -$15.7M | -$10.0M | -$21.7M | -$28.9M | -$27.0M |
| Balance Sheet | |||||
| Cash and equivalents | $35.5M | $27.6M | $31.0M | $15.3M | $32.8M |
| Current assets | $120.4M | $99.2M | $88.0M | $98.1M | $127.0M |
| Total assets | $221.7M | $203.7M | $196.8M | $195.4M | $208.0M |
| Current liabilities | $23.6M | $30.6M | $30.4M | $23.8M | $24.3M |
| Total liabilities | $92.8M | $99.8M | $101.2M | $94.4M | $95.5M |
| Stockholders' equity | $128.8M | $103.9M | $95.7M | $101.0M | $112.5M |
| Cash Flow Statement | |||||
| Cash from operations | $812,000 | $4.5M | -$5.7M | -$16.1M | -$13.4M |
| Depreciation and amortization | $6.7M | $6.5M | $4.2M | $2.8M | $2.7M |
| Stock-based compensation | $30.1M | $15.9M | $14.4M | $15.6M | $10.9M |
| Capital expenditure | $3.7M | $3.1M | $13.9M | $20.1M | $27.8M |
| Free cash flow | -$2.9M | $1.4M | -$19.6M | -$36.1M | -$41.2M |
| Impairments | $64,000 | $0 | $0 | — | — |
Shares outstanding 53.2M · Free float 91.9%
Annual filing data through FY ended December 31, 2025; float as of July 10, 2026.