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Jun 30, 2021
Axogen Q2 2021 Earnings Report
Axogen reported a strong second quarter with significant revenue growth and improved gross margin.
Key Takeaways
Axogen, Inc. reported a 52% increase in net revenue to $33.6 million for the second quarter of 2021, compared to $22.1 million in the second quarter of 2020. The company's gross margin improved to 78.9%, and the net loss was $7.9 million, or $0.19 per share.
Net revenue increased by 52% to $33.6 million compared to Q2 2020.
Gross margin improved to 78.9% compared to 74.7% in the prior year.
Net loss was $7.9 million, or $0.19 per share, compared to a net loss of $8.1 million, or $0.20 per share, in Q2 2020.
Cash, cash equivalents, and investments totaled $106.2 million as of June 30, 2021.
Axogen
Axogen
Forward Guidance
Management is updating financial guidance, expecting full-year 2021 revenue will be in the range of $134.5 million to $137.5 million versus the prior range of $133.0 million to $136.0 million. Additionally, management continues to expect full-year 2021 gross margin to remain above 80%.
Positive Outlook
- Full-year 2021 revenue expected to be in the range of $134.5 million to $137.5 million.
- Prior revenue guidance was $133.0 million to $136.0 million.
- Full-year 2021 gross margin expected to remain above 80%.