AxoGen, Inc.

AXGN Healthcare Medical Devices

AxoGen, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $225.2 million, up 20.2% from fiscal 2024. In the quarter to June 2026, revenue grew 23.1%, EPS fell 400.0%, free cash flow fell 17.4% and total debt fell 72.6%, each against the same quarter a year earlier. Revenue growth for ten consecutive years.

34.62 1.01 −2.83%
Market cap
$2.1B
P/E
0.0×
Fwd P/E
−110×
Dividend yield
—
F-score
5/9
Altman Z
9.23
Beneish M
−2.73
Dividend safety
n/a

Insider Decisions trades per month

Total sells 18.01
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 2 13 — — 1 — 6 — — 3 1 —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 2,090.00
Revenue 251.17
Net Income (33.55)
Free Cash Flow 6.51
Net Debt (95.32)
Current Ratio 6.60 (at or above 1.5: strong)
Debt/Equity 0.07 (at or below 0.5: strong)
P/E ratio 0.00
Fwd P/E (110.00) (negative: loss-making)
P/S ratio 7.35
P/B ratio 7.21 (above 6: high)
Past 5Y EPS Growth —
This Y EPS Growth 56.52% (at or above 15%: strong)
Next Y EPS Growth 50.87% (at or above 15%: strong)
Next Y revenue growth 26.82% (at or above 10%: strong)
Next 5Y EPS Growth 50.64% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/S against its own 10 years 70.33%
10-year low 10-year high
P/B against its own 10 years 60.82%
10-year low 10-year high
EV/Sales against its own 10 years 68.08%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 37 39 46 113
Receivables 25 24 26 34
Inventory 23 33 42 47
Other — — — —
88 99 120 200
2023 2024 2025 Q'26
Payables 29 29 21 28
ST’ Debt — 2 2 —
Other — — — —
30 31 24 30

Compound Annual Growth %

10y 5y 3y
Sales 23.48% 14.93% 17.57%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 31.72% 0.91% 8.46%

Revenue $m

Mar Jun Sep Dec Year
’26 61 70 — — —
’25 49 57 60 60 225
’24 41 48 49 49 187
’23 37 38 41 43 159
’22 31 34 37 36 139
’21 31 34 31 32 127
’20 24 22 33 32 112
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 2 7 — — —
’25 (13) 8 3 3 1
’24 (12) 4 4 9 5
’23 (7) 0 2 0 (6)
’22 (11) (6) (1) 1 (16)
’21 (11) (1) 0 (2) (13)
’20 (8) (7) 3 3 (10)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (1) 5 — — —
’25 (14) 7 1 1 (5)
’24 (14) 3 3 8 0
’23 (12) (4) (2) (2) (21)
’22 (17) (10) (5) (5) (37)
’21 (14) (9) (10) (9) (42)
’20 (13) (15) (3) 0 (32)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 (0.38) (0.03) — — —
’25 (0.08) 0.01 0.01 (0.28) (0.34)
’24 (0.15) (0.04) (0.04) 0.01 (0.23)
’23 (0.17) (0.16) (0.10) (0.09) (0.51)
’22 (0.27) (0.18) (0.10) (0.13) (0.69)
’21 (0.16) (0.19) (0.17) (0.13) (0.65)
’20 (0.21) (0.20) (0.04) (0.15) (0.60)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 4.52 8.75 16.52 10.91 7.16 8.48 6.87 3.45 5.55 9.22

Analyst estimates 2026–2028

Powerpack
High 9.88 28.90 56.85 25.84 18.43 23.94 13.66 11.32 17.23 34.24
People
People Employees 146 199 297 394 368 451 396 428 452 622
Revenue/emp, $m 0.28 0.30 0.28 0.27 0.31 0.28 0.35 0.37 0.41 0.36
Income, $m
Income, $m Revenue 41 60 84 107 112 127 139 159 187 225
Gross margin, % 84.27 84.59 84.60 83.74 80.78 81.99 78.51 76.64 75.79 74.31
EBT (14) (10) (22) (29) (24) (27) (29) (22) (10) (16)
EBT margin, % (35.06) (17.29) (26.68) (27.30) (21.18) (21.19) (20.89) (13.66) (5.32) (6.97)
Net income (14) (10) (22) (29) (24) (27) (29) (22) (10) (16)
Depreciation 1 1 1 3 4 6 6 6 9 9
Per share, $
Per share, $ Revenue 1.34 1.81 2.26 2.72 2.81 3.09 3.29 3.71 4.23 4.89
Earnings (0.47) (0.31) (0.60) (0.74) (0.60) (0.65) (0.69) (0.51) (0.23) (0.34)
Cash flow (0.37) (0.28) (0.48) (0.51) (0.24) (0.33) (0.38) (0.13) 0.10 0.02
Capex (0.04) (0.04) (0.18) (0.13) (0.57) (0.69) (0.50) (0.35) (0.10) (0.12)
Free cash flow (0.40) (0.32) (0.66) (0.64) (0.81) (1.01) (0.89) (0.48) 0.00 (0.10)
Book value 0.49 0.76 3.96 3.37 3.08 2.73 2.40 2.23 2.35 2.80
Shares, m 31 33 37 39 40 41 42 43 44 46
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
P/S 6.65 15.41 9.04 6.58 6.37 3.03 3.00 1.86 3.89 6.69
P/B 18.31 36.99 5.16 5.31 5.81 3.43 4.12 3.10 7.02 11.70
EV/Sales 6.51 15.22 7.58 5.65 5.86 2.85 3.09 2.06 4.05 6.79
EV/FCF (21.59) (87.32) (26.00) (24.02) (20.43) (8.69) (11.47) (15.90) 68,961.14 (319.81)
Cash, $m
Cash, $m Operating cash flow (11) (9) (18) (20) (10) (13) (16) (6) 5 1
Capex (1) (1) (7) (5) (23) (28) (21) (15) (5) (6)
Free cash flow (12) (11) (24) (25) (32) (42) (37) (21) 0 (5)
Balance, $m
Balance, $m Working capital 33 42 138 114 122 103 74 58 69 97
Total debt 24 25 0 3 54 67 67 68 69 68
Net debt (6) (12) (122) (99) (57) (23) 12 31 29 22
Shareholders’ equity 15 25 147 132 123 113 101 96 104 129
Returns, %
Returns, % ROA (34.70) (19.85) (20.45) (18.51) (13.36) (13.18) (14.35) (11.07) (4.98) (7.38)
ROIC (55.12) (37.30) (52.30) (59.53) (21.92) (17.72) (16.37) (10.61) (1.54) (3.25)
ROE (124.68) (52.09) (26.02) (20.88) (18.63) (22.90) (27.11) (22.08) (9.99) (13.49)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

AxoGen, Inc. vs peers in Medical Devices (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
NEOG Neogen Corporation $2.7B — (loss-making) — (loss-making) +6.51% (above 0%: growing) n/m +135.75% (above 0%: growing) 47.35% (0.81%) Compare
TMDX TransMedics Group, Inc. $2.7B 16.0× 34.1× +20.70% (above 0%: growing) −59.22% (below 0%: shrinking) −87.62% (below 0%: shrinking) 59.59% 12.50% Compare
UFPT UFP Technologies, Inc. $2.3B 31.2× 23.6× +15.07% (above 0%: growing) +20.63% (above 0%: growing) −35.77% (below 0%: shrinking) 29.27% 16.15% Compare
BFLY Butterfly Network, Inc. $2.1B — (loss-making) — (loss-making) +39.47% (above 0%: growing) n/m −113.85% (below 0%: shrinking) 71.41% (41.90%) Compare
AXGN AxoGen, Inc. $2.1B — (loss-making) — (loss-making) +23.06% (above 0%: growing) n/m −17.36% (below 0%: shrinking) 72.67% (3.09%)
INSP Inspire Medical Systems, Inc. $2.0B 14.8× 93.5× −7.60% (below 0%: shrinking) n/m +322.84% (above 0%: growing) 85.48% (0.26%) Compare
ESTA Establishment Labs Holdings Inc. $1.8B — (loss-making) — (loss-making) +31.66% (above 0%: growing) n/m +2.75% (above 0%: growing) 70.64% (6.35%) Compare
ATEC Alphatec Holdings, Inc. $1.7B — (loss-making) — (loss-making) +15.07% (above 0%: growing) n/m −146.87% (below 0%: shrinking) 72.17% (0.89%) Compare
NVCR NovoCure Limited $1.7B — (loss-making) — (loss-making) +15.60% (above 0%: growing) n/m +105.68% (above 0%: growing) 77.61% (5.75%) Compare
Median of peers $2.1B 16.0× 34.1× +15.34% — −16.51% 71.03% (0.85%)

All 149 Medical Devices stocks →

AxoGen, Inc. (AXGN) key facts

  • Strength: AxoGen, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $225.2 million, up 20.2% from fiscal 2024.
  • AxoGen, Inc. (AXGN) is a Medical Devices company in the Healthcare sector, listed on Nasdaq.
  • As of October 16, 2026, AXGN traded at $34.62, a market capitalization of $2.1 billion.
  • Return on equity was −13.5% and debt-to-equity 0.07.
  • Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 9.23 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

AxoGen, Inc. (AXGN) Latest News

28 Apr

Impact 4 · transcript
Impact 4 · transcript
Impact 4 ·

22 Apr

Impact 4 · transcript
stockrow.com/AXGN · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com