2020 Q4 Form 10-K Financial Statement

#000080592821000044 Filed on March 01, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2020 2019 Q4
Revenue $32.50M $112.3M $28.16M
YoY Change 15.39% 5.24% 20.18%
Cost Of Revenue $6.120M $21.58M $5.430M
YoY Change 12.71% 24.39% 32.44%
Gross Profit $27.03M $90.72M $23.28M
YoY Change 16.11% 1.52% 17.62%
Gross Profit Margin 83.19% 80.78% 82.67%
Selling, General & Admin $26.82M $96.06M $25.24M
YoY Change 6.26% -6.97% 18.05%
% of Gross Profit 99.22% 105.88% 108.41%
Research & Development $4.930M $17.85M $4.910M
YoY Change 0.41% 1.9% 28.87%
% of Gross Profit 18.24% 19.67% 21.09%
Depreciation & Amortization $560.0K $1.507M $330.0K
YoY Change 69.7% 61.52% 50.0%
% of Gross Profit 2.07% 1.66% 1.42%
Operating Expenses $31.75M $113.9M $30.15M
YoY Change 5.31% -5.69% 19.69%
Operating Profit -$4.718M -$23.18M -$6.869M
YoY Change -31.31% -26.19% 27.27%
Interest Expense -$610.0K $1.054M $430.0K
YoY Change -241.86% 2535.0% -32.81%
% of Operating Profit
Other Income/Expense, Net -$20.00K -$604.0K -$50.00K
YoY Change -60.0% -126.6% 400.0%
Pretax Income -$6.010M -$23.80M -$7.040M
YoY Change -14.63% -18.21% 34.61%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$6.010M -$23.79M -$7.038M
YoY Change -14.61% -18.36% 34.72%
Net Earnings / Revenue -18.5% -21.18% -24.99%
Basic Earnings Per Share -$0.60
Diluted Earnings Per Share -$149.3K -$0.60 -$178.3K
COMMON SHARES
Basic Shares Outstanding 40.13M 39.97M shares 39.47M
Diluted Shares Outstanding 39.97M shares

Balance Sheet

Concept 2020 Q4 2020 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $104.0M $104.0M $96.50M
YoY Change 7.77% 7.77% -17.24%
Cash & Equivalents $48.77M $48.80M $35.72M
Short-Term Investments $55.20M $55.20M $60.80M
Other Short-Term Assets $11.10M $11.10M $7.700M
YoY Change 44.16% 44.16% 10.0%
Inventory $12.53M $12.50M $13.86M
Prepaid Expenses
Receivables $17.62M $17.60M $16.94M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $145.3M $145.3M $135.0M
YoY Change 7.58% 7.63% -10.55%
LONG-TERM ASSETS
Property, Plant & Equipment $38.40M $54.10M $14.89M
YoY Change 157.93% 198.9% 85.18%
Goodwill
YoY Change
Intangibles $2.054M $1.515M
YoY Change 35.58%
Long-Term Investments
YoY Change
Other Assets $0.00
YoY Change
Total Long-Term Assets $56.13M $56.10M $19.62M
YoY Change 186.06% 186.22% 112.82%
TOTAL ASSETS
Total Short-Term Assets $145.3M $145.3M $135.0M
Total Long-Term Assets $56.13M $56.10M $19.62M
Total Assets $201.4M $201.4M $154.6M
YoY Change 30.22% 30.27% -3.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.597M $4.600M $8.262M
YoY Change -44.36% -44.58% 82.91%
Accrued Expenses $18.20M $18.20M $12.60M
YoY Change 44.44% 44.44% 48.24%
Deferred Revenue $14.00K $14.00K
YoY Change 0.0% -22.22%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $1.736M
YoY Change -100.0% 6100.0%
Total Short-Term Liabilities $22.83M $22.80M $20.88M
YoY Change 9.34% 9.09% 60.07%
LONG-TERM LIABILITIES
Long-Term Debt $32.03M $32.00M $0.00
YoY Change -100.0%
Other Long-Term Liabilities $3.000K $23.40M $15.00K
YoY Change -80.0% 1362.5% -78.57%
Total Long-Term Liabilities $32.03M $55.40M $15.00K
YoY Change 213433.33% 3362.5% -85.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.83M $22.80M $20.88M
Total Long-Term Liabilities $32.03M $55.40M $15.00K
Total Liabilities $78.23M $78.20M $22.49M
YoY Change 247.85% 247.56% 70.5%
SHAREHOLDERS EQUITY
Retained Earnings -$203.6M -$179.9M
YoY Change 13.22% 19.33%
Common Stock $326.8M $312.0M
YoY Change 4.74% 4.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $123.1M $123.1M $132.2M
YoY Change
Total Liabilities & Shareholders Equity $201.4M $201.4M $154.6M
YoY Change 30.22% 30.27% -3.45%

Cashflow Statement

Concept 2020 Q4 2020 2019 Q4
OPERATING ACTIVITIES
Net Income -$6.010M -$23.79M -$7.038M
YoY Change -14.61% -18.36% 34.72%
Depreciation, Depletion And Amortization $560.0K $1.507M $330.0K
YoY Change 69.7% 61.52% 50.0%
Cash From Operating Activities $2.830M -$9.626M -$3.330M
YoY Change -184.98% -51.56% -33.0%
INVESTING ACTIVITIES
Capital Expenditures -$3.300M $21.91M -$1.160M
YoY Change 184.48% 369.66% 404.35%
Acquisitions
YoY Change
Other Investing Activities -$16.06M $5.630M $14.74M
YoY Change -208.96% -82.68% 67.88%
Cash From Investing Activities -$19.35M -$16.96M $13.58M
YoY Change -242.49% -162.2% 58.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $3.500M
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change
Cash From Financing Activities 4.510M $40.47M 910.0K
YoY Change 395.6% 904.07% -16.51%
NET CHANGE
Cash From Operating Activities 2.830M -$9.626M -3.330M
Cash From Investing Activities -19.35M -$16.96M 13.58M
Cash From Financing Activities 4.510M $40.47M 910.0K
Net Change In Cash -12.01M $13.89M 11.16M
YoY Change -207.62% 21.48% 138.97%
FREE CASH FLOW
Cash From Operating Activities $2.830M -$9.626M -$3.330M
Capital Expenditures -$3.300M $21.91M -$1.160M
Free Cash Flow $6.130M -$31.53M -$2.170M
YoY Change -382.49% 28.51% -54.22%

Facts In Submission

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CY2020 us-gaap Gains Losses On Extinguishment Of Debt
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0 USD
CY2019 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2018 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-2186000 USD
CY2020 us-gaap Provision For Doubtful Accounts
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-105000 USD
CY2019 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
514000 USD
CY2018 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
852000 USD
CY2020 us-gaap Inventory Write Down
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2242000 USD
CY2019 us-gaap Inventory Write Down
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1887000 USD
CY2018 us-gaap Inventory Write Down
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1343000 USD
CY2020 us-gaap Unrealized Gain Loss On Investments
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47000 USD
CY2019 us-gaap Increase Decrease In Inventories
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3767000 USD
CY2018 us-gaap Unrealized Gain Loss On Investments
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721000 USD
CY2020 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-117000 USD
CY2019 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
0 USD
CY2018 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
0 USD
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
8470000 USD
CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
10304000 USD
CY2018 us-gaap Share Based Compensation
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7606000 USD
CY2020 us-gaap Increase Decrease In Accounts Receivable
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635000 USD
CY2019 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2136000 USD
CY2018 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5108000 USD
CY2020 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
910000 USD
CY2018 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
6009000 USD
CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2524000 USD
CY2019 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
661000 USD
CY2018 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
192000 USD
CY2020 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
4958000 USD
CY2019 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2920000 USD
CY2018 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
3711000 USD
CY2020 us-gaap Operating Lease Payments
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1086000 USD
CY2019 us-gaap Operating Lease Payments
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1773000 USD
CY2018 us-gaap Operating Lease Payments
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0 USD
CY2020 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
3000 USD
CY2019 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
4000 USD
CY2018 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
0 USD
CY2020 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-12000 USD
CY2019 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-30000 USD
CY2018 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-66000 USD
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
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-9626000 USD
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-19872000 USD
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
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-17862000 USD
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
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21905000 USD
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4664000 USD
CY2018 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6282000 USD
CY2020 us-gaap Payments To Acquire Investments
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77806000 USD
CY2019 us-gaap Payments To Acquire Investments
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121074000 USD
CY2018 us-gaap Payments To Acquire Investments
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114736000 USD
CY2020 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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83440000 USD
CY2019 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
153571000 USD
CY2018 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
23146000 USD
CY2020 us-gaap Payments To Acquire Intangible Assets
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692000 USD
CY2019 us-gaap Payments To Acquire Intangible Assets
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562000 USD
CY2018 us-gaap Payments To Acquire Intangible Assets
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321000 USD
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
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CY2019 us-gaap Net Cash Provided By Used In Investing Activities
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27271000 USD
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
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CY2020 us-gaap Proceeds From Issuance Of Long Term Debt
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35000000 USD
CY2019 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
CY2018 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
CY2020 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
7820000 USD
CY2018 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
0 USD
CY2019 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
0 USD
CY2020 us-gaap Repayments Of Debt
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7820000 USD
CY2019 us-gaap Repayments Of Debt
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0 USD
CY2018 us-gaap Repayments Of Debt
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0 USD
CY2020 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
3500000 USD
CY2019 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2018 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
132964000 USD
CY2020 us-gaap Payments Of Stock Issuance Costs
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642000 USD
CY2019 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
CY2018 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
257000 USD
CY2020 us-gaap Proceeds From Lines Of Credit
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0 USD
CY2019 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 USD
CY2018 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
26253000 USD
CY2020 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
CY2019 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
CY2018 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
30489000 USD
CY2020 us-gaap Repayments Of Long Term Debt
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0 USD
CY2019 us-gaap Repayments Of Long Term Debt
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0 USD
CY2018 us-gaap Repayments Of Long Term Debt
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22513000 USD
CY2020 us-gaap Finance Lease Principal Payments
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14000 USD
CY2019 us-gaap Finance Lease Principal Payments
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-29000 USD
CY2018 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
0 USD
CY2020 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3300000 USD
CY2019 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4002000 USD
CY2018 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3884000 USD
CY2020 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
670000 USD
CY2019 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
CY2018 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
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40474000 USD
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
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4031000 USD
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
109842000 USD
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
13885000 USD
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
11430000 USD
CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-6213000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
41724000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
30294000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36507000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
55609000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
41724000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
30294000 USD
CY2020 us-gaap Interest Paid Net
InterestPaidNet
822000 USD
CY2019 us-gaap Interest Paid Net
InterestPaidNet
34000 USD
CY2018 us-gaap Interest Paid Net
InterestPaidNet
1325000 USD
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1077000 USD
CY2019 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
3212000 USD
CY2018 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
335000 USD
CY2020 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
5250000 USD
CY2019 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
0 USD
CY2018 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
0 USD
CY2020 axgn Embedded Derivative Associated With The Long Term Debt
EmbeddedDerivativeAssociatedWithTheLongTermDebt
2563000 USD
CY2019 axgn Embedded Derivative Associated With The Long Term Debt
EmbeddedDerivativeAssociatedWithTheLongTermDebt
0 USD
CY2018 axgn Embedded Derivative Associated With The Long Term Debt
EmbeddedDerivativeAssociatedWithTheLongTermDebt
0 USD
CY2020 axgn Noncash Right Of Use Assets And Operating Lease Liability
NoncashRightOfUseAssetsAndOperatingLeaseLiability
14259000 USD
CY2019 axgn Noncash Right Of Use Assets And Operating Lease Liability
NoncashRightOfUseAssetsAndOperatingLeaseLiability
26000 USD
CY2018 axgn Noncash Right Of Use Assets And Operating Lease Liability
NoncashRightOfUseAssetsAndOperatingLeaseLiability
0 USD
CY2020 axgn Noncash Or Part Noncash Conversion Option
NoncashOrPartNoncashConversionOption
182000 USD
CY2019 axgn Noncash Or Part Noncash Conversion Option
NoncashOrPartNoncashConversionOption
0 USD
CY2018 axgn Noncash Or Part Noncash Conversion Option
NoncashOrPartNoncashConversionOption
0 USD
CY2020 us-gaap Basis Of Accounting
BasisOfAccounting
Basis of PresentationThe accompanying consolidated financial statements include the accounts of Axogen, Inc. (the “Company” or “Axogen”) and its wholly owned subsidiaries, Axogen Corporation (“AC”), Axogen Processing Corporation (“APC”) and Axogen Europe GmbH, as of December 31, 2020 and December 31, 2019 and for the three years ended December 31, 2020. The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. All intercompany accounts and transactions have been eliminated in consolidation.
CY2020 us-gaap Nature Of Operations
NatureOfOperations
Organization and Business<div style="margin-top:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Axogen is the leading company focused specifically on the science, development, and commercialization of the technologies for peripheral nerve regeneration and repair. Axogen is passionate about providing the opportunity to restore nerve function and quality of life for patients with peripheral nerve injuries. Axogen providing innovative, clinically proven and economically effective repair solutions for surgeons and health care providers. Peripheral nerves provide the pathways for both motor and sensory signals throughout the body. Every day, people suffer traumatic injuries or undergo surgical procedures that impact the function of their peripheral nerves. Physical damage to a peripheral nerve or the inability to properly reconnect peripheral nerves can result in the loss of muscle or organ function, the loss of sensory feeling, or the initiation of pain.</span></div><div style="margin-top:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Axogen’s platform for peripheral nerve repair features a comprehensive portfolio of products, including Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral nerves without the comorbidities associated with a second surgical site; Axoguard Nerve Connector, a porcine submucosa extracellular matrix (“ECM”) coaptation aid for tensionless repair of severed peripheral nerves; Axoguard Nerve Protector, a porcine submucosa ECM product used to wrap and protect damaged peripheral nerves and reinforce the nerve reconstruction while preventing soft tissue attachments; Axoguard</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Nerve Cap, a porcine submucosa ECM product used to protect a peripheral nerve end and separate the nerve from the surrounding environment to reduce the development of symptomatic or painful neuroma; and Avive Soft Tissue Membrane, a processed human umbilical cord intended for surgical use as a resorbable soft tissue conduit. Along with these core surgical products, Axogen also offers the Axotouch Two-Point Discriminator, used to measure the innervation density of any surface area of skin. The Company’s portfolio of products is available in the United States, Canada, Germany, United Kingdom, Spain, South Korea, and several other countries.</span></div><div style="margin-top:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Avance Nerve Graft and Avive Soft Tissue Membrane are processed in the United States by Axogen at its processing facility in Dayton, Ohio. Axoguard Nerve Cap is manufactured by Cook Biotech in the United States for sale by Axogen and Axoguard Nerve Connector and Axoguard Nerve Protector are manufactured in the United States by Cook Biotech and are distributed worldwide exclusively by Axogen. The Axotouch Two Point Discriminator is contract manufactured by Viron Technologies, LLC (doing business as Cybernetics Research Laboratories) (“CLR”) Tucson, Arizona. CRL supplies the Axotouch unpackaged and they are packaged at Axogen’s distribution facility in Burleson, Texas. Axogen maintains its corporate offices in Alachua, Florida and is the parent company of its wholly owned operating subsidiaries, AC, APC and Axogen Europe GmbH.</span></div>
CY2020Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
48267000 USD
CY2020Q4 us-gaap Restricted Cash
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6842000 USD
CY2019Q4 us-gaap Restricted Cash
RestrictedCash
6000000 USD
CY2019Q4 us-gaap Contract With Customer Liability Current
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14000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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41724000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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48767000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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35724000 USD
CY2020Q4 us-gaap Restricted Cash
RestrictedCash
6842000 USD
CY2019Q4 us-gaap Restricted Cash
RestrictedCash
6000000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
55609000 USD
CY2019Q4 us-gaap Accounts Receivable Billed For Long Term Contracts Or Programs
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16944000 USD
CY2019Q4 us-gaap Contract With Customer Liability Noncurrent
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15000 USD
axgn Increase Decrease In Contract Receivable
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1623000 USD
CY2018Q4 us-gaap Accounts Receivable Billed For Long Term Contracts Or Programs
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15321000 USD
CY2018Q4 us-gaap Contract With Customer Liability Current
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18000 USD
CY2018Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
42000 USD
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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1092000 USD
axgn Increase Decrease In Contract With Customer Liability Current
IncreaseDecreaseInContractWithCustomerLiabilityCurrent
-4000 USD
axgn Increase Decrease In Contract With Customer Liability Noncurrent
IncreaseDecreaseInContractWithCustomerLiabilityNoncurrent
-27000 USD
CY2019Q4 us-gaap Accounts Receivable Billed For Long Term Contracts Or Programs
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16944000 USD
CY2019Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
14000 USD
CY2019Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
15000 USD
CY2020Q4 us-gaap Accounts Receivable Billed For Long Term Contracts Or Programs
AccountsReceivableBilledForLongTermContractsOrPrograms
17618000 USD
CY2020Q4 us-gaap Contract With Customer Liability Current
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14000 USD
CY2020Q4 us-gaap Contract With Customer Liability Noncurrent
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3000 USD
axgn Increase Decrease In Contract Receivable
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674000 USD
axgn Increase Decrease In Contract With Customer Liability Current
IncreaseDecreaseInContractWithCustomerLiabilityCurrent
0 USD
axgn Increase Decrease In Contract With Customer Liability Noncurrent
IncreaseDecreaseInContractWithCustomerLiabilityNoncurrent
-12000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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416000 USD
CY2020 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
17846000 USD
CY2019 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
17514000 USD
CY2018 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
11773000 USD
CY2020 us-gaap Share Based Compensation
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8470000 USD
CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
10304000 USD
CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
7606000 USD
CY2020 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Use of Estimates</span><span style="font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"/></div><div style="margin-top:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Management believes the critical accounting policies regarding revenue recognition, inventory and share-based employee compensation affect the Company's more significant judgments and estimates used in the preparation of the Company’s consolidated financial statements. Actual results could differ materially from those estimates.</span><span style="font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"/></div>
CY2020 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Reclassifications</span></div><div style="margin-top:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Contract liabilities, current" of $14 were reported in the Company's consolidated balance sheets as of December 31, 2019 have been combined into "Accounts payable and accrued expenses" in the Company's consolidated balance sheets to conform with the presentation as of December 31, 2020.</span></div>
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
8876000 USD
CY2019Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
10403000 USD
CY2020Q4 us-gaap Inventory Work In Process Net Of Reserves
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751000 USD
CY2019Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
730000 USD
CY2020Q4 us-gaap Inventory Raw Materials Net Of Reserves
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2902000 USD
CY2019Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
2728000 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
12529000 USD
CY2019Q4 us-gaap Inventory Net
InventoryNet
13861000 USD
CY2020 us-gaap Inventory Write Down
InventoryWriteDown
2242000 USD
CY2019 us-gaap Inventory Write Down
InventoryWriteDown
1887000 USD
CY2018 us-gaap Inventory Write Down
InventoryWriteDown
1343000 USD
CY2019Q4 axgn Prepaid Events Current
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110000 USD
CY2020Q4 us-gaap Prepaid Advertising
PrepaidAdvertising
587000 USD
CY2020Q4 us-gaap Prepaid Insurance
PrepaidInsurance
2596000 USD
CY2019Q4 us-gaap Prepaid Insurance
PrepaidInsurance
0 USD
CY2020Q4 axgn Stock Option Receivable Current
StockOptionReceivableCurrent
2000 USD
CY2019Q4 axgn Stock Option Receivable Current
StockOptionReceivableCurrent
244000 USD
CY2020Q4 us-gaap Insurance Receivable For Malpractice Current
InsuranceReceivableForMalpracticeCurrent
23000 USD
CY2019Q4 us-gaap Insurance Receivable For Malpractice Current
InsuranceReceivableForMalpracticeCurrent
98000 USD
CY2020Q4 axgn Prepaid Events Current
PrepaidEventsCurrent
203000 USD
CY2019Q4 us-gaap Prepaid Advertising
PrepaidAdvertising
227000 USD
CY2020Q4 axgn Prepaid Software License Current
PrepaidSoftwareLicenseCurrent
220000 USD
CY2019Q4 axgn Prepaid Software License Current
PrepaidSoftwareLicenseCurrent
207000 USD
CY2020Q4 axgn Prepaid Professional Fees Current
PrepaidProfessionalFeesCurrent
251000 USD
CY2019Q4 axgn Prepaid Professional Fees Current
PrepaidProfessionalFeesCurrent
433000 USD
CY2020Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
414000 USD
CY2019Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
387000 USD
CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4296000 USD
CY2019Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1706000 USD
CY2020Q4 us-gaap Prepaid Insurance
PrepaidInsurance
2596000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
43223000 USD
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
18651000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4825000 USD
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3764000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
38398000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14887000 USD
CY2020 us-gaap Depreciation
Depreciation
1507000 USD
CY2019 us-gaap Depreciation
Depreciation
933000 USD
CY2018 us-gaap Depreciation
Depreciation
774000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
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