AxoGen, Inc. (AXGN) Income Statement
AXGN 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsAXGN revenue and net income
Where AXGN's revenue goes
2025Each bar shows an amount and its share of revenue. AXGN kept −7.0% of revenue as net income.
AXGN profit margins
AXGN growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +20.2% | +17.6% | +14.9% | +23.5% |
| Gross profit | +17.9% | +15.4% | +13.0% | +22.2% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | +123.1% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
AXGN quarterly EPS vs estimates
AxoGen beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: October 28, 2026 (estimate $-0.03).
AXGN income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $225.2M | $187.3M | $159.0M | $138.6M | $127.4M | $112.3M | $106.7M | $83.9M | $60.4M | $41.1M |
| Cost of revenue | $57.9M | $45.4M | $37.1M | $29.8M | $22.9M | $21.6M | $17.3M | $12.9M | $9.3M | $6.5M |
| Gross profit | $167.4M | $142.0M | $121.9M | $108.8M | $104.4M | $90.7M | $89.4M | $71.0M | $51.1M | $34.6M |
| Research & development | $32.9M | $27.8M | $27.3M | $25.6M | $24.2M | $17.8M | $17.5M | $11.8M | $6.7M | $4.2M |
| Sales, general & admin | $142.3M | $117.5M | $116.0M | $112.9M | $105.7M | $96.1M | $103.3M | $79.7M | $52.4M | $38.6M |
| Total operating expenses | $175.2M | $145.3M | $143.3M | $138.5M | $129.8M | $113.9M | $120.8M | $91.5M | $59.1M | $42.8M |
| Operating income | −$7.8M | −$3.3M | −$21.5M | −$29.7M | −$25.4M | −$23.2M | −$31.4M | −$20.5M | −$8.0M | −$8.1M |
| Interest income | — | — | — | — | — | — | $2.4M | $317,000 | $2.5M | $6.3M |
| Interest expense | $7.7M | $8.2M | $2.8M | $624,000 | $1.4M | $1.1M | $40,000 | $1.2M | $2.5M | $6.3M |
| Income before taxes | −$15.7M | −$10.0M | −$21.7M | −$28.9M | −$27.0M | −$23.8M | −$29.1M | −$22.4M | −$10.4M | −$14.4M |
| Income taxes | — | — | $5.4M | −$1.6M | $1.1M | $1.0M | −$13,000 | $661,000 | $2.5M | $6.3M |
| Net income | −$15.7M | −$10.0M | −$21.7M | −$28.9M | −$27.0M | −$23.8M | −$29.1M | −$22.4M | −$10.4M | −$14.4M |
| EBITDA | $192,000 | $6.1M | −$13.3M | −$23.5M | −$20.9M | −$19.3M | −$26.2M | −$20.3M | −$7.4M | −$7.7M |
| EPS (diluted) | $0.29 | $0.13 | −$0.18 | −$0.30 | −$0.34 | −$0.38 | −$0.42 | −$0.44 | −$0.30 | −$0.39 |
| Gross margin | 74.3% | 75.8% | 76.6% | 78.5% | 82.0% | 80.8% | 83.7% | 84.6% | 84.6% | 84.3% |
| Operating margin | −3.5% | −1.8% | −13.5% | −21.4% | −20.0% | −20.6% | −29.4% | −24.4% | −13.2% | −19.8% |
| Net margin | −7.0% | −5.3% | −13.7% | −20.9% | −21.2% | −21.2% | −27.3% | −26.7% | −17.3% | −35.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $69.7M | $61.5M | $59.9M | $60.1M | $56.7M | $48.6M | $49.4M | $48.6M | $47.9M | $41.4M | $42.9M | $41.3M |
| Cost of revenue | $19.1M | $15.3M | $15.5M | $14.1M | $14.6M | $13.6M | $11.8M | $12.2M | $12.6M | $8.8M | $9.2M | $9.6M |
| Gross profit | $50.7M | $46.2M | $44.4M | $46.0M | $42.0M | $34.9M | $37.6M | $36.4M | $35.3M | $32.6M | $33.8M | $31.7M |
| Research & development | $8.6M | $7.5M | $12.4M | $7.6M | $6.9M | $6.1M | $6.7M | $7.0M | $6.7M | $7.4M | $7.3M | $6.7M |
| Sales, general & admin | $44.2M | $41.5M | $41.8M | $36.5M | $33.5M | $30.5M | $28.9M | $29.8M | $29.1M | $29.8M | $29.7M | $29.0M |
| Total operating expenses | $52.8M | $49.0M | $54.2M | $44.1M | $40.3M | $36.6M | $35.6M | $36.8M | $35.8M | $37.2M | $37.0M | $35.7M |
| Operating income | −$2.2M | −$2.8M | −$9.8M | $1.9M | $1.7M | −$1.7M | $2.0M | −$316,000 | −$428,000 | −$4.6M | −$3.2M | −$4.0M |
| Interest expense | $1,000 | $694,000 | $1.7M | $10.2M | $2.0M | $2.2M | $1.8M | $1.9M | $2.2M | $2.3M | $1.8M | $827,000 |
| Income before taxes | −$1.5M | −$19.6M | −$13.2M | $708,000 | $579,000 | −$3.8M | $450,000 | −$1.9M | −$1.9M | −$6.6M | −$3.9M | −$4.1M |
| Income taxes | — | — | — | — | — | — | — | −$1.9M | — | $1.9M | −$328,000 | $821,000 |
| Net income | −$1.5M | −$19.6M | −$13.2M | $708,000 | $579,000 | −$3.8M | $450,000 | −$1.9M | −$1.9M | −$6.6M | −$3.9M | −$4.1M |
| EBITDA | −$4,000 | −$16.8M | −$8.5M | $12.8M | $4.4M | $298,000 | $4.2M | $2.0M | $2.3M | −$2.4M | −$197,000 | −$1.9M |
| EPS (diluted) | −$0.03 | $0.07 | $0.07 | $0.12 | $0.12 | −$0.02 | $0.07 | $0.07 | $0.05 | −$0.06 | −$0.06 | $0.01 |
| Gross margin | 72.7% | 75.2% | 74.1% | 76.6% | 74.2% | 71.9% | 76.1% | 74.9% | 73.8% | 78.8% | 78.7% | 76.8% |
| Operating margin | −3.1% | −4.6% | −16.3% | 3.2% | 3.0% | −3.4% | 4.1% | −0.6% | −0.9% | −11.0% | −7.4% | −9.8% |
| Net margin | −2.2% | −31.9% | −22.0% | 1.2% | 1.0% | −7.9% | 0.9% | −3.8% | −4.0% | −16.0% | −9.1% | −9.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in AXGN's financial statements (latest annual report filed February 24, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
AXGN financial results
In fiscal year 2025 (ended December 31, 2025), AxoGen reported revenue of $225.2 million, up 20.2% from the year before. It had a net loss of $15.7 million, a net profit margin of −7.0%. Diluted earnings per share came to $0.29. Over five years revenue grew at an average rate of 14.9% a year.
See the AXGN stock overview for the latest quote and news, or the AXGN chart for price history and technical indicators.
AXGN income statement FAQ
What is AxoGen's annual revenue?
AxoGen reported total revenue of $225.2 million for fiscal year 2025, which ended on December 31, 2025. That was up 20.2% from $187.3 million the previous year.
Is AxoGen profitable?
No. AxoGen reported a net loss of $15.7 million in fiscal 2025, a net profit margin of −7.0%; its operating margin was −3.5%.
What is AxoGen's gross margin?
AxoGen's gross margin was 74.3% in fiscal 2025: for every $100 of revenue, AxoGen kept $74 after the direct cost of its products and services.
How much does AxoGen spend on research and development?
AxoGen spent $32.9 million on research and development in fiscal 2025, 14.6% of revenue.
How fast is AxoGen growing?
Revenue grew 14.9% a year on average over the last five fiscal years, from $112.3 million to $225.2 million.
What are AxoGen's earnings per share?
AxoGen earned $0.29 per diluted share in fiscal 2025, compared with $0.13 a year earlier.
When will AxoGen report its next earnings?
AxoGen is expected to report results for the quarter ending September 30, 2026 on October 28, 2026 before the market opens.
When does AxoGen's fiscal year end?
AxoGen's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 24, 2026.