Axogen Q3 Revenue Up 26.2% to $75.8M; Full-Year Guidance Raised to at Least $290M
AXGN has more than doubled off its 52-week low of $17.14 on elevated volume (2.0× avg).
Summary
Axogen reported Q3 2026 revenue of $75.8 million (+26.2%) and raised full-year guidance to at least $290 million, or at least 29% growth. It also said it will begin prostate market development in 2027, with details due November 9.
Key Events · Earnings and Guidance · AXGN
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Q3 Revenue Grows 26.2% to $75.8M
Revenue rose to $75.8 million from $60.1 million a year earlier; gross margin was 74.8% versus 76.6%.
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Full-Year Guidance Raised to at Least $290M
Management now expects at least 29% growth, including at least $7 million from BioCircuit; organic revenue is guided to at least $283 million, or at least 26% growth.
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Profitability and Cash Position Strengthen
Q3 net income was $2.3 million ($0.04 per diluted share) and adjusted EBITDA was $13.4 million. Cash, restricted cash and investments reached $350.1 million at September 30, 2026, with no long-term debt.
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Prostate Market Entry Set for 2027
Axogen will begin prostate market development in 2027 and will host a prostate-focused investor call on November 9, 2026 to present clinical outcomes and market research.
Analysis · AXGN · Industrial Applications And Services
Axogen beat its own trajectory and raised full-year revenue guidance to at least $290 million, roughly 29% growth, versus the at-least-24% growth it guided to with Q2. The quarter itself was solid: revenue of $75.8 million, gross margin of 74.8%, and $2.3 million of GAAP net income, with adjusted EBITDA of $13.4 million. The balance sheet is transformed — $350.1 million of cash and investments after the September offering and the $200 million BioCircuit close, and no long-term debt. The new item is prostate: management will start developing that market in 2027 and holds a dedicated investor call on November 9, 2026 to present the clinical outcomes behind the decision. The main caveat is margin: gross margin slipped 1.8 points year over year to 74.8%, and the full-year floor is at least 73%.
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At the time of this filing, AXGN was trading at $40.00 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $2.2B. The 52-week trading range was $17.14 to $52.91. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.