Axogen, Inc. said it will move forward with a prostate market launch, citing a $754m TAM and Avance® data in >220 reconstructed patients, including ~80% with better than expected erectile function and >95% with return of continence at 6 months.
AXGN · Axogen, Inc.
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Axogen reported third-quarter 2026 revenue of $75.8 million, up 26.2%, adjusted EBITDA $13.4 million, and raised full-year revenue guidance to at least $290 million. It completed BioCircuit acquisition October 1st and plans prostate market development 2027.
Axogen reported third-quarter revenue of $75,834, up 26.2%, and net income of $2,334, but nine-month net loss reached $18,766. Cash and investments totaled $348,068 as of September 30, 2026, and Axogen completed the BioCircuit acquisition on October 1, 2026.
Axogen reported third-quarter revenue of $75.8 million, up 26.2%, adjusted net income of $13.1 million and raised full-year guidance to at least $290 million, including at least $7 million from the BioCircuit acquisition completed October 1, 2026.
Axogen completed its acquisition of BioCircuit Technologies. BioCircuit is expected to contribute approximately $6 million in fourth-quarter 2026 and approximately $34 million in 2027 revenue, not included in Axogen’s full-year 2026 guidance of at least 24% revenue growth.
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Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
AI Brief
Q2 FY26 earnings call · Jul 29, 2026TL;DR. Axogen reported Q2 revenue of $69.7M, up 23.1% YoY, and raised full-year 2026 revenue growth guidance to at least 24% (≥$279M), while lowering full-year gross margin guidance to at least 73% due to unfavorable breast-related product mix.
- + Q2 revenue grew 23.1% YoY to $69.7M, with breast growth of over 50% YoY driving broad-based strength across all target markets.
- + Year-to-date active surgeon count increased by more than 210, exceeding plan, and high-potential account productivity grew 20% YoY.
- − Full-year 2026 gross margin guidance was lowered to at least 73%, below the prior plan, driven by unfavorable breast product mix.
- − GAAP net loss was $1.5M ($0.03/share) versus net income of $0.6M ($0.01/share) in Q2 2025, and operating expenses rose to 75.8% of revenue, up 4.6 percentage points YoY.
- − Adjusted EBITDA margin compressed to 12.1% from 16.3% in Q2 2025, a 4.2 percentage point decline.
- − Aetna coverage decision remains pending despite historical timing expectations, creating uncertainty on near-term commercial coverage expansion to ~95% of lives.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
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trend & momentum for long-term holders Strong BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
Earlier KPI extraction records exist, but do not meet the current evidence-completeness requirements. No current verified series is available. Earlier figures remain withheld until revalidated; this is not evidence that the company reports no KPIs.
Versus peers
Medical Devices — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
AXGN
this stock
Axogen, Inc.
|
$3.34B | +70.9% | +20.2% | — | 11.7% |
|
ABT
Abbott Laboratories
|
$187.95B | -13.4% | +5.7% | 40.5 | 1.1% |
|
MDT
Medtronic plc
|
$131.57B | +7.1% | +8.4% | 25.3 | 1.8% |
|
SYK
Stryker Corp
|
$117.88B | -11.9% | +11.2% | 33.0 | 1.7% |
|
BSX
Boston Scientific Corp
|
$64.27B | -53.5% | +12.5% | 18.8 | 2.4% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every section- Filed
- Nov 9, 2026
- This year
- 20
Axogen, Inc. said it will move forward with a prostate market launch, citing a $754m TAM and Avance® data in >220 reconstructed patients, including ~80% with better than expected erectile function and >95% with return of continence at 6 months.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| AXGN | +11.8% | +61.6% | +34.9% | +13.3% | +70.9% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | +9.2% | +62.7% | +34.4% | +13.5% | +60.3% |