2023 Q1 Form 10-K Financial Statement

#000080592823000020 Filed on March 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $36.66M $36.16M $138.6M
YoY Change 18.24% 14.67% 8.81%
Cost Of Revenue $6.709M $6.957M $24.15M
YoY Change 20.97% 13.94% 5.3%
Gross Profit $29.96M $29.21M $114.4M
YoY Change 17.65% 14.85% 9.59%
Gross Profit Margin 81.7% 80.76% 82.58%
Selling, General & Admin $30.62M $28.00M $117.0M
YoY Change 0.36% 14.39% 10.71%
% of Gross Profit 102.21% 95.88% 102.23%
Research & Development $6.679M $6.811M $27.16M
YoY Change 6.44% 8.08% 12.33%
% of Gross Profit 22.3% 23.32% 23.73%
Depreciation & Amortization $709.0K $712.0K $2.827M
YoY Change 0.71% -0.56% 3.9%
% of Gross Profit 2.37% 2.44% 2.47%
Operating Expenses $37.30M $34.82M $144.1M
YoY Change 1.4% 13.09% 11.01%
Operating Profit -$7.341M -$5.608M -$29.71M
YoY Change -35.15% 4.76% 16.88%
Interest Expense $16.00K $326.0K $624.0K
YoY Change -95.48% 56.73% -53.98%
% of Operating Profit
Other Income/Expense, Net $267.0K -$133.0K $759.0K
YoY Change -272.26% -5.67% -148.37%
Pretax Income -$7.074M -$5.415M -$28.95M
YoY Change -38.35% 2.44% 7.27%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$7.074M -$5.415M -$28.95M
YoY Change -38.35% 2.44% 7.27%
Net Earnings / Revenue -19.29% -14.97% -20.89%
Basic Earnings Per Share -$0.17 -$0.69
Diluted Earnings Per Share -$0.17 -$0.13 -$0.69
COMMON SHARES
Basic Shares Outstanding 42.60M shares 42.29M shares 42.08M shares
Diluted Shares Outstanding 42.57M shares 42.08M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $37.87M $48.79M $48.79M
YoY Change -43.83% -41.98% -41.98%
Cash & Equivalents $7.707M $15.28M $15.28M
Short-Term Investments $30.16M $33.51M $33.51M
Other Short-Term Assets $8.705M $8.195M $8.195M
YoY Change -3.99% 1.35% 1.35%
Inventory $19.85M $18.91M $18.91M
Prepaid Expenses
Receivables $22.28M $22.19M $22.19M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $88.70M $98.08M $98.08M
YoY Change -21.14% -22.81% -22.81%
LONG-TERM ASSETS
Property, Plant & Equipment $96.92M $93.66M $93.66M
YoY Change 17.67% 48.95% 19.9%
Goodwill
YoY Change
Intangibles $3.858M $3.649M
YoY Change 20.94% 27.63%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $100.8M $97.31M $97.31M
YoY Change 17.8% 20.18% 20.18%
TOTAL ASSETS
Total Short-Term Assets $88.70M $98.08M $98.08M
Total Long-Term Assets $100.8M $97.31M $97.31M
Total Assets $189.5M $195.4M $195.4M
YoY Change -4.32% -6.07% -6.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $20.19M $8.964M $8.964M
YoY Change -3.28% 51.34% 51.34%
Accrued Expenses $1.043M $1.303M $14.78M
YoY Change -49.49% -92.9% -19.49%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $7.000K $7.000K $7.000K
YoY Change -12.5% -22.22% -22.22%
Total Short-Term Liabilities $21.24M $23.75M $23.75M
YoY Change -7.44% -2.22% -2.22%
LONG-TERM LIABILITIES
Long-Term Debt $45.93M $45.71M $45.73M
YoY Change 1.98% 1.99% 2.02%
Other Long-Term Liabilities $24.78M $24.91M $24.91M
YoY Change -5.38% -5.51%
Total Long-Term Liabilities $45.93M $45.71M $70.64M
YoY Change 1.98% 1.99% -0.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.24M $23.75M $23.75M
Total Long-Term Liabilities $45.93M $45.71M $70.64M
Total Liabilities $91.96M $94.39M $94.39M
YoY Change -2.35% -1.14% -1.14%
SHAREHOLDERS EQUITY
Retained Earnings -$266.7M -$259.6M
YoY Change 10.14% 12.55%
Common Stock $364.2M $360.6M
YoY Change 5.26% 5.07%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $97.51M $101.0M $101.0M
YoY Change
Total Liabilities & Shareholders Equity $189.5M $195.4M $195.4M
YoY Change -4.32% -6.07% -6.07%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$7.074M -$5.415M -$28.95M
YoY Change -38.35% 2.44% 7.27%
Depreciation, Depletion And Amortization $709.0K $712.0K $2.827M
YoY Change 0.71% -0.56% 3.9%
Cash From Operating Activities -$7.423M $1.362M -$16.07M
YoY Change -32.83% -189.96% 19.85%
INVESTING ACTIVITIES
Capital Expenditures $4.304M $6.769M $20.08M
YoY Change -14.55% -193.69% -27.81%
Acquisitions
YoY Change
Other Investing Activities $3.771M $5.560M $18.05M
YoY Change -332.2% -187.42% 279.98%
Cash From Investing Activities -$786.0K -$1.209M -$3.200M
YoY Change -89.15% -91.1% -86.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $633.0K 813.0K $1.794M
YoY Change 566.32% -22.05% -91.23%
NET CHANGE
Cash From Operating Activities -$7.423M 1.362M -$16.07M
Cash From Investing Activities -$786.0K -1.209M -$3.200M
Cash From Financing Activities $633.0K 813.0K $1.794M
Net Change In Cash -$7.576M 966.0K -$17.47M
YoY Change -58.37% -106.87% 5.24%
FREE CASH FLOW
Cash From Operating Activities -$7.423M $1.362M -$16.07M
Capital Expenditures $4.304M $6.769M $20.08M
Free Cash Flow -$11.73M -$5.407M -$36.14M
YoY Change -27.11% -194.68% -12.31%

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CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
112550000 usd
CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
15591000 usd
CY2022 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
0 usd
CY2022 axgn Stock Issued During Period Value Stock Options Exercised And Employee Stock Purchase Plan
StockIssuedDuringPeriodValueStockOptionsExercisedAndEmployeeStockPurchasePlan
1806000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-28948000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
100999000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-28948000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-26985000 usd
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-23786000 usd
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2827000 usd
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2744000 usd
CY2020 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1530000 usd
CY2022 axgn Right Of Use Asset Amortization
RightOfUseAssetAmortization
1761000 usd
CY2021 axgn Right Of Use Asset Amortization
RightOfUseAssetAmortization
1795000 usd
CY2020 axgn Right Of Use Asset Amortization
RightOfUseAssetAmortization
1777000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
265000 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
202000 usd
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
153000 usd
CY2022 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
891000 usd
CY2021 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
831000 usd
CY2020 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
232000 usd
CY2022 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0 usd
CY2021 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0 usd
CY2020 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-3000 usd
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
612000 usd
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-41000 usd
CY2020 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-105000 usd
CY2022 us-gaap Inventory Write Down
InventoryWriteDown
1769000 usd
CY2021 us-gaap Inventory Write Down
InventoryWriteDown
3314000 usd
CY2020 us-gaap Inventory Write Down
InventoryWriteDown
2242000 usd
CY2022 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
228000 usd
CY2021 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-68000 usd
CY2020 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
47000 usd
CY2022 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
1044000 usd
CY2021 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-28000 usd
CY2020 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-117000 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
15591000 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
10919000 usd
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
8470000 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
4639000 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
499000 usd
CY2020 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
635000 usd
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
3656000 usd
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
7478000 usd
CY2020 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
910000 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
84000 usd
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-2435000 usd
CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2524000 usd
CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
660000 usd
CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-270000 usd
CY2020 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
4958000 usd
CY2022 axgn Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
1841000 usd
CY2021 axgn Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
463000 usd
CY2020 axgn Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
1086000 usd
CY2022 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
2000 usd
CY2021 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
2000 usd
CY2020 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
3000 usd
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
0 usd
CY2021 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-3000 usd
CY2020 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-12000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-16066000 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-13405000 usd
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-9626000 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
20078000 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
27811000 usd
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
21905000 usd
CY2022 axgn Proceeds From Grantors Investing Activities
ProceedsFromGrantorsInvestingActivities
0 usd
CY2021 axgn Proceeds From Grantors Investing Activities
ProceedsFromGrantorsInvestingActivities
950000 usd
CY2020 axgn Proceeds From Grantors Investing Activities
ProceedsFromGrantorsInvestingActivities
0 usd
CY2022 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
39247000 usd
CY2021 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
68699000 usd
CY2020 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
77806000 usd
CY2022 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
57300000 usd
CY2021 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
72500000 usd
CY2020 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
83440000 usd
CY2022 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
1175000 usd
CY2021 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
589000 usd
CY2020 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
692000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3200000 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-23649000 usd
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-16963000 usd
CY2022 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 usd
CY2021 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
15000000 usd
CY2020 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
35000000 usd
CY2022 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
0 usd
CY2021 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
0 usd
CY2020 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
7820000 usd
CY2022 us-gaap Repayments Of Debt
RepaymentsOfDebt
0 usd
CY2021 us-gaap Repayments Of Debt
RepaymentsOfDebt
0 usd
CY2020 us-gaap Repayments Of Debt
RepaymentsOfDebt
7820000 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
CY2020 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
3500000 usd
CY2022 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 usd
CY2021 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 usd
CY2020 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
642000 usd
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
12000 usd
CY2021 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
15000 usd
CY2020 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
14000 usd
CY2022 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
1806000 usd
CY2021 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
5467000 usd
CY2020 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
3300000 usd
CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 usd
CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 usd
CY2020 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
670000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1794000 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
20452000 usd
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
40474000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-17472000 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-16602000 usd
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
13885000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
39007000 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
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21535000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
39007000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
55609000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
495000 usd
CY2020 us-gaap Interest Paid Net
InterestPaidNet
822000 usd
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
866000 usd
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1420000 usd
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1077000 usd
CY2022 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
0 usd
CY2021 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
0 usd
CY2020 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
5250000 usd
CY2022 axgn Embedded Derivative Associated With The Long Term Debt
EmbeddedDerivativeAssociatedWithTheLongTermDebt
0 usd
CY2021 axgn Embedded Derivative Associated With The Long Term Debt
EmbeddedDerivativeAssociatedWithTheLongTermDebt
3037000 usd
CY2020 axgn Embedded Derivative Associated With The Long Term Debt
EmbeddedDerivativeAssociatedWithTheLongTermDebt
2563000 usd
CY2022 axgn Noncash Right Of Use Assets And Operating Lease Liability
NoncashRightOfUseAssetsAndOperatingLeaseLiability
1018000 usd
CY2021 axgn Noncash Right Of Use Assets And Operating Lease Liability
NoncashRightOfUseAssetsAndOperatingLeaseLiability
1375000 usd
CY2020 axgn Noncash Right Of Use Assets And Operating Lease Liability
NoncashRightOfUseAssetsAndOperatingLeaseLiability
14259000 usd
CY2022 axgn Noncash Or Part Noncash Conversion Option
NoncashOrPartNoncashConversionOption
0 usd
CY2021 axgn Noncash Or Part Noncash Conversion Option
NoncashOrPartNoncashConversionOption
0 usd
CY2020 axgn Noncash Or Part Noncash Conversion Option
NoncashOrPartNoncashConversionOption
182000 usd
CY2022 us-gaap Noncash Or Part Noncash Acquisition Intangible Assets Acquired1
NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1
299000 usd
CY2021 us-gaap Noncash Or Part Noncash Acquisition Intangible Assets Acquired1
NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1
418000 usd
CY2020 us-gaap Noncash Or Part Noncash Acquisition Intangible Assets Acquired1
NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1
0 usd
CY2022 us-gaap Nature Of Operations
NatureOfOperations
Nature of Business     <span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Axogen, Inc. (together with its wholly-owned subsidiaries, the “Company”) was incorporated in Minnesota and is the leader in the science, development and commercialization of the technologies used for the peripheral nerve regeneration and repair. The Company's products include Avance</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;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 Graft, Axoguard Nerve Connector</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">,</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Axoguard Nerve Protector</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">,</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Axoguard Nerve Cap</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">® </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">and </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Axotouch</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Two-Point Discriminator</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is headquartered in Florida. The Company has processing, warehousing, and distribution facilities in Texas and Ohio.</span>The Company manages its operations as a single operating segment. Substantially all of the Company's assets are maintained in the United States. The Company derives substantially all of its revenues from sales to customers in the United States.
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span></div><div style="margin-top:10pt;text-align:justify;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 U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The significant estimates affecting the amounts reported or disclosed in the consolidated financial statements include the realizable value of inventories, the valuation of stock-based compensation and the valuation of derivative instruments and the fair value of debt instruments. Other estimates that affect the amounts reported or disclosed in the consolidated financial statements include the allowance for doubtful accounts, the useful life and recoverability of long-lived assets, incremental borrowing rates for operating leases, accounting for income taxes including the realizability of deferred tax assets and the related valuation allowance. The Company bases its estimates on historical and anticipated results, trends, and various other assumptions that management believes are reasonable under the circumstances, including assumptions as to future events. Actual results may differ from those estimates.</span></div>
CY2022 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
ReclassificationsCertain prior year amounts have been reclassified for consistency with the current year presentation. Specifically, finance lease right-of-use assets which were presented separately in 2021, and are now included in property and equipment. In addition, the debt derivative liability was included in net operating loss carryforwards in deferred assets in 2021, it is presented separately as debt derivative liability in deferred tax assets. See Note 12 - Income Taxes.
CY2022Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
15034000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
15284000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
32756000 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
6251000 usd
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
6251000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21535000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
39007000 usd
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration Risk</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Credit Risk</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash and cash equivalents, which are held at major financial institutions and trade receivables. </span></div>The Company's products are sold on an uncollateralized basis and on credit terms.
CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
4869000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
18905000 usd
CY2022 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
6155000 usd
CY2021 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
4277000 usd
CY2022 axgn Contributions To Charitable Organization
ContributionsToCharitableOrganization
700000 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
16693000 usd
CY2022 us-gaap Inventory Write Down
InventoryWriteDown
1769000 usd
CY2022 us-gaap Government Assistance Amount
GovernmentAssistanceAmount
158000 usd
CY2021 us-gaap Government Assistance Amount
GovernmentAssistanceAmount
1164000 usd
CY2020 us-gaap Government Assistance Amount
GovernmentAssistanceAmount
628000 usd
CY2021 us-gaap Inventory Write Down
InventoryWriteDown
3314000 usd
CY2020 us-gaap Inventory Write Down
InventoryWriteDown
2242000 usd
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
12651000 usd
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
11011000 usd
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1026000 usd
CY2021Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
813000 usd
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
5228000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
131000 usd
CY2021Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
110000 usd
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
89590000 usd
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
70536000 usd
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
10296000 usd
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FiniteLivedIntangibleAssetsAccumulatedAmortization
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5923000 usd
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9673000 usd
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20000 usd
CY2021 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
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FinanceLeaseRightOfUseAssetAmortization
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FinanceLeaseInterestExpense
2000 usd
CY2021 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
2000 usd
CY2020 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
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CY2021 us-gaap Operating Lease Cost
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CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
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ShortTermLeaseCost
116000 usd
CY2022 us-gaap Variable Lease Cost
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CY2021 us-gaap Variable Lease Cost
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CY2022 us-gaap Lease Cost
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CY2021 us-gaap Lease Cost
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CY2022Q4 us-gaap Operating Lease Right Of Use Asset
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CY2021Q4 us-gaap Operating Lease Right Of Use Asset
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CY2022Q4 axgn Lessee Operating And Financing Lease Liability To Be Paid Year One
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LesseeOperatingAndFinancingLeaseLiabilityToBePaidYearThree
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CY2022Q4 axgn Lessee Operating And Financing Lease Liability To Be Paid Year Four
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CY2022Q4 axgn Lessee Operating And Financing Lease Liability To Be Paid
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CY2022Q4 axgn Lessee Operating And Financing Lease Liability Undiscounted Excess Amount
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232000 usd
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42083125 shares
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P2Y4M24D
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47049000 usd
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DeferredTaxAssetsInventory
503000 usd
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DeferredTaxAssetsInventory
653000 usd
CY2022Q4 axgn Deferred Tax Assets Interest Limitation
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453000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
169000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
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CY2022Q4 axgn Deferred Tax Assets Lease Obligations
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CY2021Q4 axgn Deferred Tax Assets Lease Obligations
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CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
5274000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
3985000 usd
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
6357000 usd
CY2021Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
6000 usd
CY2022Q4 us-gaap Deferred Tax Assets Derivative Instruments
DeferredTaxAssetsDerivativeInstruments
1174000 usd
CY2021Q4 us-gaap Deferred Tax Assets Derivative Instruments
DeferredTaxAssetsDerivativeInstruments
-28000 usd
CY2022Q4 us-gaap Deferred Tax Assets Charitable Contribution Carryforwards
DeferredTaxAssetsCharitableContributionCarryforwards
203000 usd
CY2021Q4 us-gaap Deferred Tax Assets Charitable Contribution Carryforwards
DeferredTaxAssetsCharitableContributionCarryforwards
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CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Bonuses
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeBonuses
1010000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Bonuses
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeBonuses
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CY2022Q4 us-gaap Deferred Tax Assets Gross
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63049000 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
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58934000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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983000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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692000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets
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CY2021Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets
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CY2022Q4 axgn Deferred Tax Liabilities Right Of Use Asset
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3744000 usd
CY2021Q4 axgn Deferred Tax Liabilities Right Of Use Asset
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CY2022Q4 us-gaap Deferred Tax Liabilities Tax Deferred Income
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4000 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
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CY2021Q4 us-gaap Deferred Income Tax Liabilities
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CY2022Q4 axgn Deferred Tax Assets Liabilities
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58309000 usd
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CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
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CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.210
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Deductions
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CY2022Q4 us-gaap Operating Loss Carryforwards
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IncomeTaxExpenseBenefit
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CY2021 us-gaap Income Tax Expense Benefit
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