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Axogen, Inc. (AXGN) Financials

AXGN
Trailing 12 months to June 30, 2026
Revenue $251.2M +23.6% YoY
Net Income -$33.5M -619.5% YoY
EPS (Diluted) -$0.68 -580.0% YoY
Free Cash Flow $8.6M +74.0% YoY
Market Cap $2.1B as of Oct 10, 2026
Price / Sales 8.4x on $251.2M revenue, trailing 12 months to June 30, 2026
Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to June 30, 2026
Price / Book 8.3x on $256.3M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 29, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the AXGN SEC filings page.

Axogen, Inc. (AXGN) reported $251.2M in revenue over the twelve months to Jun 30, 2026, up 23.6% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI AXGN FY2025

Revenue has expanded rapidly, but margin compression and inventory buildup keep growth from becoming dependable cash generation.

Revenue rose from $159M in FY2023 to $225M in FY2025, while inventory increased from $23.0M to $42.4M. That mismatch helps explain why operating cash flow was only $0.8M in FY2025 despite a net loss of $15.7M: expansion is absorbing cash through working capital rather than funding itself.

Gross margin narrowed from 82.0% in FY2021 to 74.3% in FY2025, so additional sales are carrying less gross contribution. Operating margin nevertheless improved from -20.0% to -3.5%, showing that expense absorption has narrowed losses overall, although the improvement was not consistent year to year.

Leverage eased: debt-to-equity declined from 0.5x in FY2023 to 0.4x in FY2025, indicating expansion has not been financed primarily by heavier balance-sheet leverage. The current ratio reached 5.1x in FY2025, so reported short-term assets materially exceeded current obligations even as operating cash generation remained thin.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity CashFlow Returns 53 / 100
Financial Health Score 53/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Axogen, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
30

Axogen, Inc. has an operating margin of -3.5%, meaning the company loses $3 on every $100 of revenue. This results in a profitability score of 30/100. This is down from -1.8% the prior year.

Growth
81

Axogen, Inc.'s revenue surged 20.2% year-over-year to $225.2M, reflecting rapid business expansion. This strong growth earns a score of 81/100.

Leverage
65

Axogen, Inc. carries a low D/E ratio of 0.38, meaning only $0.38 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 65/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
92

With a current ratio of 5.11, Axogen, Inc. holds $5.11 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 92/100.

Cash Flow
19

While Axogen, Inc. generated $812K in operating cash flow, capex of $3.7M consumed most of it, leaving -$2.9M in free cash flow. This results in a low score of 19/100, reflecting heavy capital investment rather than weak cash generation.

Returns
31

Axogen, Inc. posts a -12.2% return on equity (ROE), meaning it loses $12 for every $100 of shareholders' equity. This results in a returns score of 31/100. This is down from -9.6% the prior year.

Altman Z-Score Safe
13.18

Axogen, Inc. scores 13.18, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($2.1B) relative to total liabilities ($92.8M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral
5/9

Axogen, Inc. passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Mixed
N/A

Axogen, Inc. reported a net loss of $15.7M while generating $812K in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.

Interest Coverage At Risk
N/A

Axogen, Inc. reported an operating loss of $7.8M against $7.7M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

Revenue
$69.7M
YoY+23.1%
QoQ+13.5%
5Y CAGR+15.7%
10Y CAGR+21.0%

Axogen, Inc. generated $69.7M in revenue in Q2 2026. This represents an increase of 23.1% from the same quarter a year earlier. Against the prior quarter it is up 13.5%.

EBITDA
-$438K
YoY-112.9%
QoQ+64.3%

Axogen, Inc.'s EBITDA was -$438K in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 112.9% from the same quarter a year earlier. Against the prior quarter it is up 64.3%.

Net Income
-$1.5M
YoY-361.8%
QoQ+92.3%

Axogen, Inc. reported -$1.5M in net income in Q2 2026. This represents a decrease of 361.8% from the same quarter a year earlier. Against the prior quarter it is up 92.3%.

EPS (Diluted)
-$0.03
YoY-400.0%
QoQ+92.1%

Axogen, Inc. earned -$0.03 per diluted share (EPS) in Q2 2026. This represents a decrease of 400.0% from the same quarter a year earlier. Against the prior quarter it is up 92.1%.

Cash & Balance Sheet

Free Cash Flow
$6.3M
YoY-9.7%
QoQ+617.0%

Axogen, Inc. generated $6.3M in free cash flow in Q2 2026, representing cash available after capex. This represents a decrease of 9.7% from the same quarter a year earlier. Against the prior quarter it is up 617.0%.

Cash & Debt
$94.6M
YoY+372.0%
QoQ+14.4%
5Y CAGR+12.2%
10Y CAGR+17.9%

Axogen, Inc. held $94.6M in cash against $0 in long-term debt as of Q2 2026.

Shares Outstanding
54M
YoY+16.8%
QoQ+1.1%
5Y CAGR+5.4%
10Y CAGR+6.0%

Axogen, Inc. had 54M shares outstanding in Q2 2026. This represents an increase of 16.8% from the same quarter a year earlier. Against the prior quarter it is up 1.1%.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin
72.7%
YoY-1.5pp
QoQ-2.5pp
5Y change-6.2pp
10Y change-12.5pp

Axogen, Inc.'s gross margin was 72.7% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 1.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.5 percentage points.

Operating Margin
-3.1%
YoY-6.0pp
QoQ+1.5pp
5Y change+18.2pp

Axogen, Inc.'s operating margin was -3.1% in Q2 2026, reflecting core business profitability. This is down 6.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.5 percentage points.

Net Margin
-2.2%
YoY-3.2pp
QoQ+29.7pp
5Y change+21.3pp
10Y change+24.8pp

Axogen, Inc.'s net profit margin was -2.2% in Q2 2026, showing the share of revenue converted to profit. This is down 3.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 29.7 percentage points.

Return on Equity
-0.6%
YoY-1.1pp
QoQ+7.4pp
5Y change+6.1pp
10Y change+99.8pp

Axogen, Inc.'s ROE was -0.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 1.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 7.4 percentage points.

Capital Allocation

R&D Spending
$8.6M
YoY+25.3%
QoQ+14.3%
5Y CAGR+8.5%

Axogen, Inc. invested $8.6M in research and development in Q2 2026. This represents an increase of 25.3% from the same quarter a year earlier. Against the prior quarter it is up 14.3%.

Capital Expenditures
$893K
YoY+23.7%
QoQ-68.0%
5Y CAGR-35.2%
10Y CAGR+32.4%

Axogen, Inc. invested $893K in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 23.7% from the same quarter a year earlier. Against the prior quarter it is down 68.0%.

Share Buybacks

Not reported for Q2 2026.

AXGN Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AXGN quarterly income statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Revenue$69.7M+23.1%$61.5M+26.6%$59.9M+21.3%$60.1M+23.5%$56.7M+18.3%$48.6M+17.4%$49.4M+15.1%$48.6M+17.9%
Cost of Revenue$19.1M+30.1%$15.3M+12.0%$15.5M+31.0%$14.1M+15.4%$14.6M+16.5%$13.6M+55.6%$11.8M+8.5%$12.2M+27.6%
Gross Profit$50.7M+20.6%$46.2M+32.2%$44.4M+18.2%$46.0M+26.2%$42.0M+18.9%$34.9M+7.1%$37.6M+17.3%$36.4M+14.9%
R&D Expenses$8.6M+25.3%$7.5M+23.4%$12.4M+84.6%$7.6M+8.1%$6.9M+2.9%$6.1M-17.8%$6.7M-6.6%$7.0M+4.5%
SG&A Expenses$13.4M+38.4%$12.9M+36.1%$14.6M+65.3%$10.8M0.0%$9.7M+2.9%$9.5M-5.0%$8.8M+11.3%$10.8M+9.8%
Operating Income-$2.2M-228.9%-$2.8M-70.5%-$9.8M-584.5%$1.9M+705.1%$1.7M+490.7%-$1.7M+63.6%$2.0M+163.1%-$316K+92.1%
EBITDA-$438K-112.9%-$1.2M-1932.8%-$8.3M-336.1%$3.6M+159.6%$3.4M+160.2%$67K+102.2%$3.5M+297.3%$1.4M+150.1%
Interest Expense$1K-99.9%$694K-69.2%$1.7M-4.7%$1.8M-7.2%$2.0M-9.5%$2.3M-3.3%$1.8M-2.3%$1.9M+128.9%
Income Tax$0$0$0$0$0$0$0$0
Net Income-$1.5M-361.8%-$19.6M-410.8%-$13.2M-3023.6%$708K+138.1%$579K+130.1%-$3.8M+42.2%$450K+111.6%-$1.9M+54.6%
EPS (Basic)-$0.03-400.0%-$0.38-375.0%-$0.28-2900.0%$0.02+150.0%$0.01+125.0%-$0.08+46.7%$0.01+111.1%-$0.04+60.0%
EPS (Diluted)-$0.03-400.0%-$0.38-375.0%-$0.28-2900.0%$0.01$0.01+125.0%-$0.08+46.7%$0.01+111.1%-$0.04+60.0%
Diluted Shares (Avg)53M+11.2%52M+14.1%N/A49M48M+9.8%45M+4.6%N/A44M+2.0%

AXGN Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AXGN quarterly balance sheet
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Total Assets$304.9M+48.4%$289.5M+47.6%$221.7M+8.8%$216.4M+12.7%$205.5M+8.7%$196.2M+5.2%$203.7M+3.5%$192.0M-1.4%
Current Assets$200.4M+93.8%$184.7M+98.5%$120.4M+21.4%$114.5M+32.7%$103.4M+25.7%$93.1M+18.3%$99.2M+12.7%$86.3M-1.4%
Cash & Equivalents$94.6M+372.0%$82.7M+356.8%$35.5M+29.0%$23.9M+28.1%$20.0M+4.4%$18.1M+15.2%$27.6M-11.2%$18.7M-40.0%
Short-Term Investments$16.8M+70.3%$18.9M+376.9%$6.0M+0.9%$11.9M+102.6%$9.9M+408.5%$4.0M+106.8%$5.9M$5.9M+292.8%
Inventory$47.3M+28.7%$46.1M+29.8%$42.4M+27.7%$40.6M+38.2%$36.8M+31.3%$35.5M+28.5%$33.2M+44.1%$29.4M+27.6%
Accounts Receivable$34.1M+21.8%$28.3M+7.7%$26.2M+8.6%$30.8M+25.0%$28.0M+11.4%$26.3M+8.6%$24.1M-4.1%$24.6M+5.9%
Long-Term Investments$0$0$0$0$0$0$0$0
Total Liabilities$48.6M-47.8%$44.7M-50.8%$92.8M-7.0%$95.6M+3.3%$93.2M-0.1%$90.8M-2.7%$99.8M-1.3%$92.6M-4.4%
Current Liabilities$30.4M+21.6%$26.0M+19.6%$23.6M-23.0%$28.0M+21.6%$25.0M+6.7%$21.7M-5.2%$30.6M+0.6%$23.0M-13.6%
Non-Current Liabilities$18.2M-73.3%$18.7M-73.0%$69.3M+0.1%$67.6M-2.8%$68.2M-2.3%$69.1M-1.9%$69.2M-2.2%$69.5M-0.9%
Long-Term Debt$0-100.0%$0-100.0%$48.4M+1.9%$48.2M+1.9%$47.9M+1.9%$47.7M+1.9%$47.5M+1.9%$47.3M+1.9%
Total Equity$256.3M+128.2%$244.8M+132.3%$128.8M+24.0%$120.8M+21.5%$112.3M+17.3%$105.4M+13.1%$103.9M+8.6%$99.4M+1.6%
Retained Earnings-$328.1M-11.4%-$326.5M-10.7%-$307.0M-5.4%-$293.8M-0.7%-$294.5M-1.6%-$295.1M-2.5%-$291.3M-3.5%-$291.7M-5.2%

Not reported in any period shown, so not listed: Goodwill.

AXGN Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AXGN quarterly cash flow statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Operating Cash Flow$7.2M-6.6%$1.6M+111.9%$3.0M-65.2%$3.2M-17.4%$7.7M+85.6%-$13.2M-7.4%$8.7M+4239.8%$3.9M+139.9%
Depreciation & Amortization$1.7M-0.3%$1.6M-7.2%$1.6M-0.2%$1.7M+0.6%$1.7M-0.6%$1.7M+13.7%$1.6M+5.0%$1.7M+40.4%
Stock-Based CompensationN/A$6.8M+135.2%N/A$5.4M+8.4%$5.2M+32.3%$2.9M-25.8%N/A$5.0M+5.4%
Capital Expenditures$893K+23.7%$2.8M+989.5%$1.2M+86.1%$1.5M+154.6%$722K-20.7%$256K-72.3%$670K-54.2%$597K-83.8%
Free Cash Flow$6.3M-9.7%-$1.2M+90.9%$1.8M-77.8%$1.7M-48.5%$7.0M+115.3%-$13.4M-1.9%$8.1M+581.8%$3.3M+260.1%
Investing Cash Flow$500K+107.2%-$16.0M-1292.2%$4.0M+597.2%-$3.8M+25.0%-$6.9M-463.4%$1.3M+141.2%-$813K-193.5%-$5.0M-183.4%
Financing Cash Flow$4.2M+262.7%$59.5M+2398.1%$4.6M+370.7%$2.4M+318.5%$1.2M+112.7%$2.4M+1067.6%$970K+132.1%$572K+11340.0%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

AXGN Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AXGN quarterly financial ratios
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Gross Margin72.7%-1.5pp75.2%+3.2pp74.1%-1.9pp76.5%+1.6pp74.2%+0.4pp71.9%-6.9pp76.0%+1.4pp74.9%-1.9pp
Operating Margin-3.1%-6.0pp-4.6%-1.2pp-16.3%-20.4pp3.2%+3.8pp2.9%+3.8pp-3.4%+7.6pp4.1%+11.5pp-0.7%+9.1pp
Net Margin-2.2%-3.2pp-31.9%-24.0pp-22.0%-22.9pp1.2%+5.0pp1.0%+5.0pp-7.9%+8.1pp0.9%+10.0pp-3.8%+6.1pp
Return on Equity-0.6%-1.1pp-8.0%-4.4pp-10.2%-10.6pp0.6%+2.5pp0.5%+2.5pp-3.6%+3.5pp0.4%+4.5pp-1.9%+2.3pp
Return on Assets-0.5%-0.8pp-6.8%-4.8pp-5.9%-6.2pp0.3%+1.3pp0.3%+1.3pp-1.9%+1.6pp0.2%+2.2pp-1.0%+1.1pp
Current Ratio6.60+2.5x7.10+2.8x5.11+1.9x4.09+0.3x4.14+0.6x4.28+0.8x3.24+0.3x3.74+0.5x
Debt-to-Equity0.00-0.4x0.00-0.5x0.38-0.1x0.40-0.1x0.43-0.1x0.450.0x0.460.0x0.480.0x
Asset Turnover0.230.0x0.210.0x0.270.0x0.280.0x0.280.0x0.250.0x0.240.0x0.250.0x
FCF Margin9.1%-3.3pp-2.0%+25.7pp3.0%-13.3pp2.8%-4.0pp12.4%+5.6pp-27.7%+4.2pp16.3%+20.2pp6.8%+11.8pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company Fiscal year Revenue Net income Net margin Market cap Health score
Axogen, Inc. AXGN FY2025 $225.2M -$15.7M -7.0% $2.1B 53/100
SI-BONE, Inc. SIBN FY2025 $200.9M -$18.9M -9.4% $868.1M 53/100
Tandem Diabetes Care, Inc. TNDM FY2025 $1.0B -$204.7M -20.2% $1.1B 40/100
iRadimed Corporation IRMD FY2025 $83.8M $22.5M 26.8% $1.1B 86/100
Orthofix Medical Inc. OFIX FY2025 $822.3M -$92.2M -11.2% $373.5M 43/100
Avanos Medical, Inc. AVNS FY2025 $701.2M -$72.9M -10.4% $1.2B 44/100

Frequently Asked Questions

What is Axogen, Inc.'s annual revenue?

Axogen, Inc. (AXGN) reported $225.2M in total revenue for fiscal year 2025. This represents a 20.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Axogen, Inc.'s revenue growing?

Axogen, Inc. (AXGN) revenue grew by 20.2% year-over-year, from $187.3M to $225.2M in fiscal year 2025.

Is Axogen, Inc. profitable?

No, Axogen, Inc. (AXGN) reported a net income of -$15.7M in fiscal year 2025, with a net profit margin of -7.0%.

Axogen, Inc. (AXGN) reported diluted earnings per share of -$0.34 for fiscal year 2025. This represents a -47.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Axogen, Inc. (AXGN) had EBITDA of -$1.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Axogen, Inc. (AXGN) had $35.5M in cash and equivalents against $48.4M in long-term debt.

Axogen, Inc. (AXGN) had a gross margin of 74.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Axogen, Inc. (AXGN) had an operating margin of -3.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Axogen, Inc. (AXGN) had a net profit margin of -7.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Axogen, Inc. (AXGN) has a return on equity of -12.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Axogen, Inc. (AXGN) recorded an outflow of $2.9M in free cash flow during fiscal year 2025. This represents a -304.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Axogen, Inc. (AXGN) generated $812K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Axogen, Inc. (AXGN) had $221.7M in total assets as of fiscal year 2025, including both current and long-term assets.

Axogen, Inc. (AXGN) invested $3.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Axogen, Inc. (AXGN) invested $32.9M in research and development during fiscal year 2025.

Axogen, Inc. (AXGN) had 52M shares outstanding as of fiscal year 2025.

Axogen, Inc. (AXGN) had a current ratio of 5.11 as of fiscal year 2025, which is generally considered healthy.

Axogen, Inc. (AXGN) had a debt-to-equity ratio of 0.38 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Axogen, Inc. (AXGN) had a return on assets of -7.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Axogen, Inc. (AXGN) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $2.1B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Axogen, Inc. (AXGN) trades at 8.4x sales, its market capitalization divided by revenue of $251.2M revenue, trailing 12 months to June 30, 2026. The market capitalization is $2.1B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Axogen, Inc. (AXGN) has an Altman Z-Score of 13.18, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Axogen, Inc. (AXGN) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Axogen, Inc. (AXGN) reported a net loss of $15.7M while generating $812K in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Axogen, Inc. (AXGN) reported an operating loss of $7.8M against $7.7M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Axogen, Inc. (AXGN) scores 53 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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