Shares of AxoGen (NASDAQ: AXGN), a leading medical technology company focused on peripheral nerve repair, plummeted by 7.96% on November 7, 2024, despite the company reporting solid third-quarter results and maintaining its full-year guidance.

AxoGen's third-quarter revenue grew by 17.9% year-over-year to $48.6 million, exceeding analysts' expectations of $47.07 million. The company attributed the robust revenue growth to improved sales productivity and commercial execution across its entire portfolio of nerve repair and protection applications.

Notably, AxoGen reported an adjusted net income of $3.1 million, or $0.07 per share, significantly higher than the adjusted net loss of $0.7 million, or $0.01 per share, in the same period last year. This also surpassed analysts' estimates of $0.01 per share.