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Earnings Call Summary | AxoGen(AXGN.US) Q4 2023 Earnings Conference

moomoo AI ·  Mar 5 11:15  · Conference Call

The following is a summary of the AxoGen, Inc. (AXGN) Q4 2023 Earnings Call Transcript:

Financial Performance:

  • AxoGen reported a full year 2023 revenue of $159 million, up 14.7% from the previous year and Q4 2023 revenue of $42.9 million, up 18.7% from Q4 2022.

  • Gross margin for the quarter was 78.7%, a decrease from 83% in Q4 2022 due to costs associated with starting tissue processing at the new facility.

  • Net loss for Q4 2023 was $3.9 million or $0.09 per share, a reduction from a net loss of $5.4 million or $0.13 in Q4 2022.

Business Progress:

  • The company made significant strides in surgeon adoption of AxoGuard HA+ and anticipates expanded adoption of nerve protection products.

  • AxoGen plans to launch Avive+ Soft Tissue Matrix in Q2 2024.

  • The new processing facility in Dayton, Ohio, is fully operational and positioned to support long-term growth.

  • FDA filing for BLA anticipated to be completed in Q3 of 2024, with potential approval in mid-2025.

More details: AxoGen IR

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