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Mar 31, 2021
Axogen Q1 2021 Earnings Report
Axogen reported a 28% increase in revenue compared to Q1 2020.
Key Takeaways
Axogen, Inc. reported first quarter 2021 financial results with a 28% increase in net revenue to $31.0 million compared to the first quarter of 2020. The company's gross margin was 83.3%, and the net loss was $6.7 million, or $0.16 per share.
Net revenue was $31.0 million, a 28% increase compared to Q1 2020.
Gross margin was 83.3% compared to 80.1% in Q1 2020.
Net loss was $6.7 million, or $0.16 per share, compared to a net loss of $8.2 million, or $0.21 per share, in Q1 2020.
Active accounts were 919, an 11% increase compared to 825 in Q1 2020.
Axogen
Axogen
Forward Guidance
Management reinitiated financial guidance and believes that full-year 2021 revenue will be in the range of $133 million to $136 million. Additionally, full-year 2021 gross margin is expected to remain above 80%.
Positive Outlook
- Full-year 2021 revenue is expected to be in the range of $133 million to $136 million.
- Full-year 2021 gross margin is expected to remain above 80%.