Axogen Posts 4c Q3 EPS, Revenue Up 26% to $75.8M, Lifts Full-Year Outlook
AXGN has more than doubled off its 52-week low of $17.14 on elevated volume (2.0× avg).
Summary
Axogen reported third-quarter EPS of 4 cents alongside revenue of $75.8 million, up 26.2% year over year, and adjusted EBITDA of $13.4 million. That tops the $69.7 million booked in Q2 and keeps the company ahead of the at-least-24% growth pace it guided to in July. Management raised full-year revenue guidance to at least $290 million. The quarter also marks the first period including BioCircuit Technologies, the $200 million sutureless nerve repair acquisition that closed October 1st and was funded by a $208.7 million offering at $42.50 a share. Profitability at 4 cents a share is the notable swing after operating expenses pushed Q2 to a small loss.
At the time of this announcement, AXGN was trading at $43.69 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $2.2B. The 52-week trading range was $17.14 to $52.91. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.