Earnings Releases·Oct 28, 2026, 7:04 AM ET

Axogen, Inc. — Third Quarter 2026 Earnings Summary

Q3 2026 revenue rose 26.2% to $75.8 million, while adjusted net income and adjusted EBITDA increased to $13.1 million and $13.4 million, respectively, compared to $6.1 million and $9.2 million in Q3 2025.
Full-year 2026 revenue guidance was raised to at least $290 million (including $7 million from the BioCircuit acquisition), with expectations for positive free cash flow and gross margins of at least 73%.
The company eliminated all long-term debt, reducing it from $48.4 million to zero, and completed the acquisition of BioCircuit Technologies, Inc. on October 1, 2026.
Cash and investments increased by $236.7 million to $350.1 million following a public offering that generated $225 million in net proceeds, with $200 million allocated to the BioCircuit transaction.
Commercial payer coverage for Avance reached approximately 96% of covered lives in the U.S., and prostate market development is scheduled to commence in 2027.