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Mar 31, 2023
Axogen Q1 2023 Earnings Report
Axogen's first quarter 2023 financial results were reported, demonstrating revenue growth and operational efficiency.
Key Takeaways
Axogen reported a net revenue of $36.7 million, an 18% increase over the first quarter of 2022. The company's gross margin was 81.7%. Net loss was $7.1 million, or $0.17 per share, while adjusted net loss was $4.1 million, or $0.10 per share.
Net revenue increased by 18% year-over-year to $36.7 million.
Gross margin was 81.7%.
Net loss improved to $7.1 million, or $0.17 per share.
Adjusted EBITDA loss decreased to $3.8 million.
Axogen
Axogen
Forward Guidance
Management continues to expect full-year 2023 revenue to be in the range of $154 million to $159 million. The Company continues to anticipate that gross margin will be reduced with the transition to its new processing facility and expects gross margins will return to approximately 80% by the fourth quarter of 2023.