Company Analysis

Axogen, Inc. (AXGN)

Nasdaq: AXGN · Electromedical & Electrotherapeutic Apparatus · Alachua, FL · filing with the SEC since 1995
Grade6.1
◀ Past 6.4● Present 6.6▶ Future 5.1
1 est.

The grade of Axogen, Inc.

Nine metrics read from its own filings, by tense
Headline grade
6.1/10
◀ Past6.430% of the headline
● Present6.640% of the headline
▶ Future5.130% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

6.4/1030% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
5.7/10

Has it survived what it has been through?

1 warning event since 2017; the latest 2018-03-13.

weight 33% of this tense · 57th percentile among 27 sector filers · read for itself

From the record

Axogen, Inc.'s filings since 2017 show 1 warning event: an auditor change (8-K item 4.01, the latest 2018-03-13) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
6.5/10

What has it actually done, year after year?

+20.8% a year over 10 filed years; profitable in 0 of 10.

weight 45% of this tense · 65th percentile among 25 sector filers · read for its customers

From the record

Axogen, Inc.'s 10 filed years say what it did: revenue went from $41 million in fiscal 2016 to $225 million in fiscal 2025, up 20.8% a year; it rose in 9 of 9 years; it never fell from a peak; net income was positive in 0 of 10 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span20.8%top 41% of its family
  • the share of years revenue rosetop 14% of its family
  • the share of filed years with a profitbottom 29% of its family
  • the deepest fall from a revenue peak0.0%top 14% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
7.2/10

How has it treated the people who own it?

SI estimate 7.2/10, confidence 35 of 100 (one part).

weight 22% of this tense · 72nd percentile among 27 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, the share count over the years, which ranks in the top 28% of 27 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
one part: the share count over the years, the one part on file, ranked among 27 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Axogen, Inc.'s shareholder treatment is put at 7.2 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the top 28% of 27 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

6.6/1040% of the headline grade · 3 of 3 filed

Financial health

as filed
7.0/10

Is it financially healthy right now?

ROE -12%: lost 12¢ per shareholder dollar. Leverage 42%: owes 42¢ per asset dollar.

weight 45% of this tense · 70th percentile among 27 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Axogen, Inc. lost about 12 cents for every dollar of shareholders' money, and gross profitability: its products earned about 75 cents per dollar of everything the company owns. Leverage: it owed about 42 cents per dollar of assets, and net share issuance: its share count grew 4.1% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 43% of its family
  • return on equitytop 30% of its family
  • gross profit against assetstop 15% of its family
  • the share count against the year beforetop 31% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
7.2/10

How strong is its position in its industry?

top 28% of 24 in its family; net margin -7%.

weight 33% of this tense · 72nd percentile among 24 sector filers · read for its customers

From the record

Axogen, Inc.'s standing among 24 graded names in its industry family: revenue of $225 million in fiscal 2025 ranks in the top 27% by size; a net margin of -7% ranks in the top 31%; revenue growth of 17.6% a year over the last 3 filed years ranks in the top 26% (its annual reports).

What it rests on

  • revenue against the family$225Mtop 27% of its family
  • net margin-7.0%top 31% of its family
  • three-year revenue growth17.6%top 26% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
4.6/10

What are the people in charge doing?

bottom 46% of 19 in its family for leadership; chief executive since 2024.

weight 22% of this tense · 46th percentile among 19 sector filers · read for its shareholders

From the record

Axogen, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Dale, Michael D (Chief Executive Officer, as filed), filing under that title since 2024-08-09, 2.3 years (bottom 47% of its family); the 13 officers and directors filing in the last fifteen months have been on the record a median of 3.9 years (top 50%); 9 officer or director changes were reported on Form 8-K since 2023-11-13, against the 13 people in charge now (bottom 42%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge9 in three years among 13 peoplebottom 42% of its family
  • the median years the people in charge have filed3.9 yearstop 50% of its family
  • the chief executive's years on the record2.3 yearsbottom 47% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

5.1/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
5.2/10

How much room does it have to grow?

top 48% of 23 in its family for room to expand.

weight 45% of this tense · 52nd percentile among 23 sector filers · read for itself

From the record

Axogen, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $36 million against debt of $48 million leaves -5.8% of its assets as net cash, bottom 17% of its family; cash from operations less capital spending is -1.3% of revenue (top 37%); a gross margin of 74.3% (top 28%); research spending of 14.6% of revenue (top 43%) (its annual report).

What it rests on

  • cash less debt against assets-5.8%bottom 17% of its family
  • cash from operations less capital spending against revenue-1.3%top 37% of its family
  • gross margin74.3%top 28% of its family
  • research spending against revenue14.6%top 43% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
4.4/10

What could actually drive growth from here?

bottom 44% of 25 in its family for growth drivers.

weight 33% of this tense · 44th percentile among 25 sector filers · read for its customers

From the record

Axogen, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 17.6% a year over the last three filed years against 20.8% over all 10, slowing (bottom 41% of its family); the newest year grew 20.2% (top 41%); research spending grew 8.7% a year (top 38%); capital spending grew -42.9% a year (bottom 15%) (its annual reports). Axogen, Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • three-year growth against the whole span-3.2 points a yearbottom 41% of its family
  • the newest year's revenue growth20.2%top 41% of its family
  • three-year growth of research spending8.7%top 38% of its family
  • three-year growth of capital spending-42.9%bottom 15% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
5.9/10

Did its newest year beat what its own record pointed to?

top 41% of 20 in its family for expectations against reality.

weight 22% of this tense · 59th percentile among 20 sector filers · read for its shareholders

From the record

Axogen, Inc.'s newest year against its own record: revenue of $225 million in fiscal 2025 came in 3.4% above the $218 million its prior three years' pace pointed to (top 45% of its family); net income of $16 million against a prior three-year average of $20 million (top 30%); a net margin of -7% against -13.3% before (top 47%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace3.4%top 45% of its family
  • net income against the prior three years' average+22%top 30% of its family
  • net margin against its prior average+6.3 pointstop 47% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton AXGN · research, not advice