Axogen, Inc. (NASDAQ:AXGN), a global leader in developing and marketing innovative surgical solutions for peripheral nerve injuries, today announced preliminary unaudited fourth quarter and full-year 2024 key financials.
Preliminary Fourth Quarter and Year-End Key Business Highlights
- Fourth quarter revenue is expected to be approximately $49.4 million, which represents a 15.1% increase over the fourth quarter of 2023 driven by solid performance across the product portfolio.
- Full-year 2024 revenue is expected to be approximately $187.3 million, which represents a 17.8% increase over the full-year of 2023.
- Our positive performance reflects continued improvements in the execution of our commercial strategies, including a focus on high-potential accounts in Extremities and OMF-Head & Neck applications, adoption of Axogen's complete peripheral nerve surgical algorithm across all procedures, and continued adoption of Resensation® as an expectation for post mastectomy breast reconstruction procedures.
- We expect full year gross margin to be above 75.5%.
- Total balance of cash, cash equivalents and investments on December 31, 2024, is expected to be approximately $39.5 million, representing an increase of approximately $2.5 million over that balance at the end of 2023.
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