Quarterly ResultApr 28, 2026, 07:07 AM
AXGN Q1 Revenue +26.6% to $61.5M; Raises FY26 Guidance to $270M
AI Summary
Axogen, Inc. reported strong first-quarter 2026 financial results, with revenue increasing 26.6% year-over-year to $61.5 million. The company achieved positive adjusted net income of $4.1 million and significantly improved its adjusted EBITDA to $5.7 million. Following this performance, Axogen raised its full-year 2026 revenue guidance to at least 20% growth, targeting $270 million, and expects to be free cash flow positive for the year. The company also strengthened its balance sheet by closing a public offering that generated $133.3 million in net proceeds, which was used to repay a $69.7 million loan facility.
Key Highlights
- AXGN Q1 2026 revenue was $61.5M, a 26.6% increase YoY.
- Gross margin improved to 75.2% in Q1 2026 from 71.9% in Q1 2025.
- Net loss for Q1 2026 was $19.6M, or $0.38 per share.
- Adjusted net income was $4.1M, or $0.07 per share, for Q1 2026.
- Adjusted EBITDA was $5.7M for Q1 2026, up from $2.9M in Q1 2025.
- Cash and equivalents increased by $58.1M to $103.6M as of March 31, 2026.
- Company raised full-year 2026 revenue guidance to at least 20% growth, or $270M.
- Closed an upsized public offering yielding $133.3M net proceeds; $69.7M used to repay Oberland loan.