Axogen reported Q4 2025 revenue of USD 59.9 million, up 21.3% YoY, and FY 2025 revenue of USD 225.2 million, up 20.2% YoY. Q4 2025 gross margin was 74.1% and FY 2025 gross margin was 75.8%, including USD 1.9 million of one-time costs tied to the FDA BLA approval of Avance, which the company said reduced gross margin by 3.3% in Q4 and 0.9% for the full year. Q4 2025 net loss was USD 13.2 million (diluted EPS: USD -0.28) and FY 2025 net loss was USD 15.7 million (diluted EPS: USD -0.34); adjusted net income was USD 3.5 million in Q4 (adjusted diluted EPS: USD 0.07) and USD 14.4 million for FY 2025 (adjusted diluted EPS: USD 0.29). Adjusted EBITDA was USD 6.5 million in Q4 (margin 10.9%) and USD 27.9 million in FY 2025 (margin 12.4%). Cash, cash equivalents, restricted cash and investments totaled USD 45.5 million at December 31, 2025, and operating cash flow was USD 6.0 million in Q4 and USD 5.7 million for FY 2025. For business updates, Axogen said Avance BLA was approved, making it the first and only FDA-approved biologic for peripheral nerve repair, with 12 years of U.S. market exclusivity. The company cited expanded coverage, adding 19.8 million lives and bringing commercial coverage to above 65%, and noted AAHS and ASRM position statements recognizing nerve allograft as a standard-of-care option. In market development, Axogen reported the prostate program surpassed 100 procedures across 10 sites with standardized surgical technique, and it expects meaningful clinical signals in 2H 2026. Commercially, it ended 2025 with 21 breast reps and 117 extremities reps and plans to grow to about 30 breast reps and about 130 extremity reps in 2026; it also reported 679 HiPo accounts and said 61% of growth came from HiPo accounts. For FY 2026, Axogen guided to revenue growth of at least 18% (USD 265.7 million), gross margin of 74% to 76%, and net free cash flow positive.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Axogen Inc. published the original content used to generate this news brief on February 24, 2026, and is solely responsible for the information contained therein.
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