Axogen
Supplies nerve grafts and protective implants for surgical peripheral nerve repair.
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Profile
Sells processed nerve allografts and porcine extracellular-matrix devices that bridge, connect, wrap, and protect damaged peripheral nerves, plus an amniotic soft-tissue barrier. Revenue comes almost entirely from U.S. surgical customers, with Avance contributing most sales and carrying ongoing FDA confirmatory-study obligations.
Develops and commercializes a focused portfolio for surgical repair of damaged peripheral nerves. Avance is an acellular human nerve allograft used to bridge nerve gaps; Axoguard Nerve Connector, Axoguard Nerve Protector, Axoguard HA+ Nerve Protector, and Axoguard Nerve Cap connect, wrap, or protect nerves, while Avive+ Soft Tissue Matrix separates and protects tissues around the surgical bed.
Concentrates commercial execution on U.S. hospitals and surgeons serving extremity, oral maxillofacial and head-and-neck, and breast procedures, pairing a direct sales force and surgeon education with clinical research. Products reach Canada and parts of Europe, but nearly all revenue comes from the United States. Avance generates most revenue and depends on donated human tissue. It is now sold as an FDA-licensed biologic, with continued approval for some indications tied to confirmatory studies.
Company facts
Categories
Key statistics
Year to date +66.2% · Average volume (30d) 999.8K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 26, 2026 | Truist Financial | Target | $55 | $60 | |
| Jul 30, 2026 | H.C. Wainwright | Reiterate | Buy | $50 | $53 |
| Jul 30, 2026 | Truist Financial | Target | $55 | ||
| Jul 29, 2026 | Jefferies | Reiterate | Buy | $36 | $55 |
| Apr 29, 2026 | Raymond James | Target | $41 | $48 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | $0.12 | $0.12 | −1.2% | $67.1M | $69.7M | +3.9% | +0.53% |
| Apr 28, 2026Q1 FY26 | $0.12 | $0.07 | −41.7% | $57.8M | $61.5M | +6.2% | −0.52% |
| Feb 24, 2026Q4 FY25 | $0.09 | $0.07 | −21.2% | $59.0M | $59.9M | +1.5% | −3.94% |
| Oct 29, 2025Q3 FY25 | $0.09 | $0.12 | +33.3% | $59.9M | $60.1M | +0.3% | +1.93% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $48.6M | $56.7M | $60.1M | $59.9M | $61.5M | $69.7M | |
| Gross profit | $34.9M | $42.0M | $46.0M | $44.4M | $46.2M | $50.7M | |
| Operating income | −$1.7M | $1.7M | $1.9M | −$9.8M | −$2.8M | −$2.2M | |
| Net income | −$3.8M | $579.0K | $708.0K | −$13.2M | −$19.6M | −$1.5M | |
| Diluted EPS | −$0.08 | $0.01 | $0.01 | −$0.28 | −$0.38 | −$0.03 | |
| Gross margin | 71.9% | 74.2% | 76.6% | 74.1% | 75.2% | 72.7% | |
| Operating margin | -3.4% | 3.0% | 3.2% | -16.3% | -4.6% | -3.1% |
Fiscal years (4-quarter sums)FY21 $127.4M · FY22 $138.6M · FY23 $159.0M · FY24 $187.3M · FY25 $225.2M
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $94.6M · Total debt $20.1M · Total assets $304.9M · Shareholders' equity $256.3M
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 53.76M · Float 52.20M · 97.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 4.42M | 8.22% | 13F | Aug 7, 2026 |
| First Light Asset Management, LLC | 2.75M | 5.11% | 13F | Aug 14, 2026 |
| Morgan Stanley | 2.75M | 5.11% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 2.26M | 4.20% | 13F | Aug 13, 2026 |
| Polar Capital Holdings PLC | 1.50M | 2.79% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 11, 2026 | Amy McBride Wendell | director | −13,353 | $48.42 |
| Aug 10, 2026 | Marc A. Began | officer: EVP & General Counsel | −67,500 | $47.35 |
| Aug 7, 2026 | Kathy Johnson Weiler | director | −14,150 | $45.30 |
| May 8, 2026 | Amy McBride Wendell | director | −1,647 | $42.60 |
| May 7, 2026 | Doris Quackenbush | officer: Sales VP | −3,878 | $43.51 |
Peers
- Integra LifeSciences
Collagen conduit and wrap products overlap nerve repair.
- Optical Cable
Remplir targets US peripheral nerve repair procedures.
- Baxter International
Synovis Nerbridge conduit overlaps nerve reconstruction.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Axogen | $52.49 | +1.90% | $2.77B | — | 86.9 | 11.0 | +23.1% |
| Integra LifeSciences | $16.89 | 0.00% | $1.31B | — | 6.6 | 0.8 | +0.8% |
| Optical Cable | $13.74 | +1.55% | $119.6M | 116.1 | 17.8 | 1.5 | +26.6% |
| Baxter International | $26.30 | +0.65% | $13.51B | — | 12.5 | 1.2 | +5.3% |
| Median | 116.1 | 12.5 | 1.2 | +5.3% |