AxoGen, Inc. (AXGN) Stock

AxoGen, Inc. (AXGN) is a Healthcare stock trading at $46.45 (as of 2026-08-20), with a market capitalization of $2.50B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

AxoGen, Inc. develops and sells surgical products used in the repair of peripheral nerve injuries, including biologically derived grafts and extracellular matrix–based aids. Its offerings include nerve grafts and coaptation, protection, and separation products, as well as a processed human umbilical cord membrane used as a resorbable soft-tissue covering, for use by surgeons treating nerve damage or transection.

Understand AxoGen, Inc.: how it makes money

AxoGen develops and markets surgical solutions for peripheral nerve damage, selling products such as Avance Nerve Graft and AxoGuard nerve connector and protector to support peripheral nerve repair procedures and bridging severed nerves.

The profit engine is tied to commercial adoption, as shown by active account and payer coverage metrics that drive whether surgeons and hospitals use AxoGen's nerve graft and repair products in peripheral nerve procedures.

Business quality (Weak): High gross margin, but the business is still operating at a loss, and the latest operating metrics show signs of softer unit volume alongside ongoing efforts to grow active and payer-covered accounts.

Bull case

  • Commercial footprint is measurable through account expansion, with Active Accounts at 1006 and Core Accounts at 412: This suggests the company can track and potentially scale usage of its peripheral nerve repair products across clinical sites.
  • Strong gross margin profile (75.2%): Gross margin supports the idea that, when volume and operating efficiency improve, profitability could improve from current levels.

Bear case

  • Operating margin is negative (-4.6%): The company did not cover operating costs from the gross profit generated in the quarter.
  • Unit Volume Decrease is 4%: A decline in unit volume can weigh on revenue traction and make it harder to move from an operating loss toward sustained profitability.
  • Revenue from Avive is 0.0 billion in the provided segment candidates: This may indicate limited contribution from that named line in the latest period shown.
Valuation — source: SEC EDGAR (first-party)
Price$46.45
Market Cap$2.50B
Price / Book9.74
Price / Sales9.94
FCF Yield0.3%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$225.21M
Net Margin-7.0%
Revenue Growth (YoY)23.1%
EPS Growth (YoY)-400.0%
FCF Growth (YoY)-9.7%
Financial Health — source: SEC EDGAR
Altman Z-Score15.06 (safe)
Piotroski F-Score5/9 (moderate)
Valuation vs Sector & Industry
Sector P/E (Healthcare)21.6
Industry P/E (Medical Equipment)32.9
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderFirst Light Asset Management, LLC ($132.61M)
Institutional Holders Tracked10
Company
SectorHealthcare
IndustryMedical Equipment
CEOMichael D. Dale
Employees451
CountryUS
IPO Date1986-12-17

Related Companies (Business model: Medical Devices / Life Science Tools; 8 closest by market cap; US-domiciled)

  • Masimo Corporation (MASI)
  • Integer Holdings Corporation (ITGR)
  • TransMedics Group, Inc. (TMDX)
  • BioLife Solutions, Inc. (BLFS)
  • CONMED Corporation (CNMD)
  • CeriBell, Inc. (CBLL)
  • Electromed, Inc. (ELMD)
  • CapsoVision, Inc. (CV)
AXGN earnings history · AXGN institutional & insider holders · AXGN KPIs & operating metrics · AXGN financials · AXGN investor presentations & press releases · AXGN SEC filings · AXGN peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.