A maker of surgical products that repair damaged peripheral nerves, Axogen's lineup includes the Avance Nerve Graft (processed human nerve tissue) and the Axoguard line of porcine-based connectors, protectors, and caps used by surgeons to restore feeling and movement. The business grew out of technology licensed from the University of Florida and took its current form after a 2011 merger, with the FDA approving Avance as a licensed biologic in 2025. A neat quirk: before Avance, the standard repair often meant cutting a healthy nerve from elsewhere in the patient's own body, so the fix created a new injury.
Axogen reports Q2 2026 revenue of $69.7M, up 23.1%, and raises full-year revenue guidance to at least $279M.
Second quarter 2026 revenue was $69.7 million, a 23.1% increase from $56.7 million in Q2 2025.
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Gross margin was 72.7% in Q2 2026, down from 74.2% in Q2 2025, due to product mix changes from accelerating Breast growth.
Net loss was $1.5 million ($0.03 per share) in Q2 2026, compared to net income of $0.6 million ($0.01 per share) in Q2 2025.
Adjusted net income was $7.3 million ($0.12 per share) in Q2 2026, up from $5.7 million ($0.12 per share) in Q2 2025.
The company raised its full-year 2026 revenue guidance to at least 24% growth, or at least $279 million, with gross margin of at least 73% and positive free cash flow.
2.02 Results of Operations and Financial Condition · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits
Axogen shareholders elect eight directors and approve auditor ratification and executive compensation at 2026 annual meeting.
Axogen, Inc. held its 2026 annual meeting of shareholders on June 23, 2026, with 45,364,808 shares present out of 53,177,824 outstanding as of the April 24, 2026 record date.
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All eight director nominees were elected to one-year terms expiring at the 2027 annual meeting, with vote totals ranging from 36,268,710 to 39,293,341 for each nominee.
Shareholders ratified the appointment of Deloitte & Touche LLP as the independent auditor for fiscal year 2026, with 45,296,698 votes for, 51,604 against, and 16,506 abstentions.
The advisory (non-binding) vote on named executive officer compensation was approved, with 38,606,031 votes for, 1,419,784 against, and 37,559 abstentions.
The report was filed under Item 5.07 to disclose the final voting results of the three proposals submitted to shareholders.
5.07 Submission of Matters to a Vote of Security Holders
Axogen reports Q1 2026 revenue of $61.5M, up 26.6%, and raises full-year revenue guidance to at least $270M.
First quarter 2026 revenue was $61.5 million, a 26.6% increase from $48.6 million in Q1 2025.
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Gross margin improved to 75.2% in Q1 2026 from 71.9% in Q1 2025.
Net loss for Q1 2026 was $19.6 million, or $0.38 per share, compared to a net loss of $3.8 million, or $0.08 per share, in Q1 2025.
Adjusted net income was $4.1 million, or $0.07 per share, in Q1 2026, versus an adjusted net loss of $0.9 million, or $0.02 per share, in Q1 2025.
Company raised full-year 2026 revenue guidance to at least 20% growth, or $270 million, and expects gross margin of 74% to 76% and positive free cash flow.
2.02 Results of Operations and Financial Condition · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits
Axogen prices upsized $124 million public offering of 4 million shares at $31.00 per share
Axogen entered into an underwriting agreement with Wells Fargo Securities and Mizuho Securities to sell 4,000,000 shares of common stock at $31.00 per share, with gross proceeds of approximately $124 million.
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The underwriters have a 30-day option to purchase up to an additional 600,000 shares.
The offering is expected to close on January 23, 2026, subject to customary closing conditions.
Axogen expects to use a significant portion of net proceeds to repay its term loan facility with Oberland Capital, with a payoff amount of approximately $69.7 million due on or before February 15, 2026.
The offering was made under an automatic shelf registration statement on Form S-3ASR that became effective on January 21, 2026.
1.01 Entry into a Material Definitive Agreement · 8.01 Other Events · 9.01 Financial Statements and Exhibits
Axogen CFO Lindsey Hartley receives compensation increase and new non-compete agreement
Her annual base salary will increase by 7%.
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On December 3, 2025, Axogen's Compensation Committee approved amendments to CFO Lindsey Hartley's compensation, effective January 1, 2026.
Her target bonus opportunity under the annual incentive program will rise from 50% to 60% of base salary.
Axogen and Hartley entered an Amended and Restated Confidentiality, Intellectual Property, Non-Competition and Non-Solicitation Agreement effective December 5, 2025, including a two-year post-employment non-competition covenant.
All other terms of her employment agreement remain unchanged.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits
FDA approves Axogen's Biologics License Application for Avance nerve allograft
Avance is indicated for adult and pediatric patients aged 1 month or older with sensory, mixed, and motor peripheral nerve discontinuities.
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On December 3, 2025, Axogen announced FDA approval of its Biologics License Application for Avance (acellular nerve allograft-arwx).
Indications for sensory nerve discontinuities >25mm and mixed/motor nerve discontinuities were approved under FDA's Accelerated Approval pathway, contingent on confirmatory studies.
Commercial availability of the licensed Avance product is expected early in the second quarter of 2026; it remains available under the current tissue framework until then.
The approval shifts Avance from a human tissue product classification to a biologic regulatory framework.
7.01 Regulation FD Disclosure · 8.01 Other Events · 9.01 Financial Statements and Exhibits