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Dec 31, 2019
Axogen Q4 2019 Earnings Report
Axogen reported a 20% increase in net sales, reaching $28.1 million, but experienced a widened net loss compared to Q4 2018.
Key Takeaways
Axogen, Inc. reported solid revenue growth in Q4 2019, with net sales increasing by 20% compared to the same quarter in 2018. However, the company's net loss also increased during the quarter. The company is focused on rebalancing its commercial operation toward extremity trauma.
Net sales increased by 20% to $28.1 million.
Gross margin was 82.7%, a slight decrease from 84.4% in Q4 2018.
Net loss was $7.0 million, or $0.18 per share, compared to a net loss of $5.2 million, or $0.13 per share, in Q4 2018.
Active accounts increased by 12% to 797.
Axogen
Axogen
Forward Guidance
Axogen anticipates 2020 revenue to be in the range of $124 million to $128 million. The company expects gross margin to remain above 80% and operating margin to see moderate improvement year over year. The number of direct sales representatives is expected to increase to between approximately 126 and 131.
Positive Outlook
- 2020 revenue will be in the range of $124 million to $128 million
- Gross margin is expected to remain above 80%
- Operating margin will see moderate improvement year over year
- Direct sales representatives expected to increase to between approximately 126 and 131
- RECON Study enrollment will be completed by the end of June 2020
Challenges Ahead
- No specific negative guidance was provided in the text.
- No specific negative guidance was provided in the text.
- No specific negative guidance was provided in the text.
- No specific negative guidance was provided in the text.
- No specific negative guidance was provided in the text.