AXOGEN Sees 10.8% Year-Over-Year Increase in Total Revenue for Second Quarter of FY2023

August 10, 2023

☀️Earnings Overview

For the second quarter of their fiscal year 2023, AXOGEN ($NASDAQ:AXGN) reported total revenue of USD 38.2 million, a 10.8% increase compared to the same quarter of the previous year. This was accompanied by a net income of USD -6.7 million, representing an improvement over the figure for the previous year’s quarter, which was -7.7 million.

Analysis

GoodWhale has conducted an analysis of AXOGEN’s fundamentals using the Star Chart. The results of our analysis indicate that AXOGEN is strong in growth, medium in assets, and weak in dividend and profitability. This has classified it as a ‘cheetah’ type of company, meaning that it has achieved high revenue or earnings growth but is considered to be less stable due to lower profitability. This type of company may be attractive to investors looking for higher potential returns but are comfortable with taking on increased risk. Additionally, AXOGEN has an intermediate health score of 4/10 with regard to its cashflows and debt, indicating that it may be able to sustain operations in times of crisis. However, investors should still exercise caution and closely monitor the company’s performance before investing. More…

  • Risk Rating Analysis
  • Star Chart Analysis
  • Valuation Analysis
  • About the Company

  • AXOGEN_Sees_10.8_Year-Over-Year_Increase_in_Total_Revenue_for_Second_Quarter_of_FY2023″>Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for Axogen. More…

    Total Revenues Net Income Net Margin
    147.94 -23.47 -17.2%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for Axogen. More…

    Operations Investing Financing
    -6.46 15.3 2.56
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • Balance Sheet Snapshot

    Below shows the total assets, liabilities and book value per share for Axogen. More…

    Total Assets Total Liabilities Book Value Per Share
    191.64 94.49 2.26
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • Key Ratios Snapshot

    Some of the financial key ratios for Axogen are shown below. More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    12.8% -15.7%
    FCF Margin ROE ROA
    -18.3% -15.0% -7.6%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items




  • Peers

    The medical device industry is extremely competitive, with companies constantly vying for market share. This is especially true in the area of nerve repair, where Axogen Inc faces stiff competition from iRadimed Corp, Neovasc Inc, and PROCEPT BioRobotics Corp. While each company has its own unique product offerings, they all share one common goal: to provide the best possible products and services to their customers.

    – iRadimed Corp ($NASDAQ:IRMD)

    Radimed Corp is a medical device company that manufactures and markets products for the diagnosis and treatment of cardiovascular diseases. The company has a market cap of $355.34 million and a return on equity of 13.08%. Radimed’s products are used by cardiologists, radiologists, and vascular surgeons to diagnose and treat cardiovascular diseases. The company’s products include coronary stents, balloon catheters, and other devices.

    – Neovasc Inc ($TSX:NVCN)

    Neovasc Inc is a medical device company that develops, manufactures and markets cardiovascular products. Its products include the Tiara technology for the treatment of mitral valve disease and the Reducer device for the treatment of refractory angina. The company’s products are sold in the United States, Europe, Canada and Israel.

    – PROCEPT BioRobotics Corp ($NASDAQ:PRCT)

    PROCEPT BioRobotics Corp is a medical device company that focuses on the development of minimally invasive surgical solutions. The company has a market capitalization of 1.99 billion as of 2022 and a return on equity of -16.02%. The company’s products include the CorPath GRX System, which is a robot-assisted system that is used in interventional cardiology procedures, and the CorPath Vascular Stent System, which is used in the treatment of peripheral artery disease.

    Summary

    AXOGEN reported strong financial performance for their fiscal second quarter of 2023, with total revenue increasing 10.8% year-over-year to USD 38.2 million. Net income also improved from the prior year, decreasing from -7.7 million to -6.7 million. This positive financial performance shows promise for investors in AXOGEN, who are likely to be encouraged by the company’s growth and profitability. With further potential for growth, investors should continue to monitor the company’s performance and trends in the sector.

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