AXGN

Axogen, Inc. Health Care Electromedical & Electrotherapeutic Apparatus Russell 3000

$49.37Close $2.3BMarket cap $22.22 – $51.7352-week range Late-januaryNext report · estimated

Stage 2 Leader 26th of 68

Highlights

Strengths

In a stage-2 uptrend all 8 trend conditions pass
Leading the market RS 90 · stronger than 90% of stocks over 12 months
Near its high 5% below its 52-week high
Earnings growing EPS +163% year on year, faster than the quarter before (+499 pts)

Price

Filing Results Screen pick 52-week high and low Adjusted prices

Key figures

FY to Dec 31, 2025 · filed Oct 28, 2026

Off 12-month high 5%

1wk 29.7% price change

1mo 17.8% price change

12-month return 118% market up 11% · its own up 111%

F-score 5 / 9 Mixed

Altman Z 14.54 Low risk

P/E — price / earnings

PEG — P/E / EPS growth

P/B 18.1× price / book

Earnings yield 0.3% EBIT / enterprise value

Cheaper than 18% of the market · expensive

Revenue growth 20% year on year

EPS growth 163% latest quarter · +499 pts

Sales growth 26% latest quarter · +3 pts

ROE 13% return on equity

Free cash margin 1% -$2.9M FCF

D/E 0.38 long-term debt / equity

Net debt / EBITDA —

Interest cover —EBIT / interest

Piotroski tests

not yet profitable on its assets
profitability slipped from last year
issued more shares
gross margin narrowed
generating cash from operations
profits backed by cash
reduced long-term debt
short-term liquidity improved
assets working harder

Trade setup

ATR% 4.8% $2.38 a day · 2×ATR $44.61

RS 90 / 99 vs the universe

Trend 8 / 8 trend template

Relative volume 1.2× vs 50-day average

Up/down volume 0.97 50 sessions

Implied move — no scheduled report

Trend template · 8 of 8

Screen verdict

1 of 3 screens

Stage 2 Leader in mixed conditions
- RS 90
- Trend 8/8
- Off 12-month high 5%
- EPS growth +163% (accel +499 pts)
- Sales growth +26% (accel +3 pts)
- Altman Z 14.54 (low risk)

Warning signs

2 flagged

Shareholders diluted The share count rose 6.9% over the year, from 44m to 47m shares. Each existing share owns a smaller fraction of the company than it did a year ago.
Gross margin narrowing Gross margin fell from 75.8% to 74.3%. The company is keeping less of each dollar of sales than it did a year ago.

Last reported Oct 28, 2026

Last shock Sep 10, 2026-11% in one session3.4× volumeon an SEC filing+18% since

Financials

6 fiscal years · from filings

Revenue What customers paid the company over its fiscal year, before any cost, as filed in its annual report. The change is against the year before. Methodology $225.2M +20% on FY2024

Net income Profit left after every cost, interest and tax for the year. A column below the line is a loss. Methodology -$15.7M

Free cash flow Cash from running the business less what it spent on equipment and buildings: the cash a year actually left behind, which profit alone does not show. Not shown for banks and insurers, whose cash moves with their loans. Methodology -$2.9M down to a loss

Margins Each as a share of revenue. Gross: left after the direct cost of what was sold. Net: left after every cost. Free cash: free cash flow over revenue. A margin rising over years means the business keeps more of each dollar it sells. Methodology

Gross 74%
Net -7%
Free cash -1%

Cash and long-term debt Cash on the balance sheet at the year's end beside debt due after a year. Net cash is cash less that debt; net debt is the shortfall. Debt some filers do not tag shows as a gap, not as zero. Methodology $12.8M net debt

Cash
Long-term debt

Shares outstanding Shares in issue at the year's end. A rising count means each share owns a smaller slice of the company (stock pay, share sales); a falling one, buybacks. The chart's scale is fitted to the count, so a small change looks large: read the percentage. Methodology 47.20m +16.2% since FY2020

	FY2020Dec 31, 2020	FY2021Dec 31, 2021	FY2022Dec 31, 2022	FY2023Dec 31, 2023	FY2024Dec 31, 2024	FY2025Dec 31, 2025
Revenue	$112.3M	$127.4M	$138.6M	$159.0M	$187.3M	$225.2M
Gross margin	81%	82%	79%	77%	76%	74%
Operating income	-$23.2M	-$25.4M	-$29.7M	-$21.5M	-$3.3M	-$7.8M
Net income	-$23.8M	-$27.0M	-$28.9M	-$21.7M	-$10.0M	-$15.7M
Net margin	-21%	-21%	-21%	-14%	-5%	-7%
Earnings per share	-$0.60	-$0.65	-$0.69	-$0.51	-$0.23	-$0.34
Free cash flow	-$31.5M	-$41.2M	-$36.1M	-$19.6M	$1.4M	-$2.9M
Free cash margin	-28%	-32%	-26%	-12%	1%	-1%
Cash	$48.8M	$32.8M	$15.3M	$31.0M	$27.6M	$35.5M
Long-term debt	$32.0M	$44.8M	$45.7M	$46.6M	$47.5M	$48.4M
Shareholders' equity	$123.1M	$112.5M	$101.0M	$95.7M	$103.9M	$128.8M
Shares outstanding	40.62m	41.74m	42.45m	43.12m	44.15m	47.20m

Filings

SEC EDGAR

Filed	Report	Period to	Lag
Oct 28, 2026	Quarterly ↗	Sep 30, 2026	28d
Jul 29, 2026	Quarterly ↗	Jun 30, 2026	29d
Apr 28, 2026	Quarterly ↗	Mar 31, 2026	28d
Feb 24, 2026	Annual ↗	Dec 31, 2025	55d
Oct 29, 2025	Quarterly ↗	Sep 30, 2025	29d
Aug 5, 2025	Quarterly ↗	Jun 30, 2025	36d
May 8, 2025	Quarterly ↗	Mar 31, 2025	38d
Feb 26, 2025	Annual ↗	Dec 31, 2024	57d
Nov 7, 2024	Quarterly ↗	Sep 30, 2024	38d
Aug 8, 2024	Quarterly ↗	Jun 30, 2024	39d
May 2, 2024	Quarterly ↗	Mar 31, 2024	32d
Mar 5, 2024	Annual ↗	Dec 31, 2023	65d

Current reports

Filed	Disclosed
Oct 28, 2026	Results · Regulation FD ↗
Oct 1, 2026	Regulation FD ↗
Sep 10, 2026	Material agreement · Regulation FD · Other events ↗
Jul 29, 2026	Results · Regulation FD ↗
Jun 23, 2026	Shareholder vote ↗
Apr 28, 2026	Results · Regulation FD ↗
Feb 24, 2026	Results · Regulation FD ↗
Jan 23, 2026	Material agreement · Other events ↗
Jan 12, 2026	Results · Regulation FD ↗
Dec 5, 2025	Director or officer change ↗
Dec 4, 2025	Regulation FD · Other events ↗
Oct 29, 2025	Results · Regulation FD ↗