AXGN at a glance
Axogen, Inc. (AXGN, SEC CIK 805928) filed its latest 10-K annual report on February 24, 2026, a 10-Q quarterly report on July 29, 2026, an 8-K current report on October 1, 2026 and Form 4 insider filings as recently as September 4, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Axogen, Inc. (AXGN) reported revenue of $225.2 million (up 20.2% from FY2024) and a net loss of $15.7 million. Diluted EPS was -$0.34.
- As of June 30, 2026, 32 institutional investment managers tracked by SignalX reported holding Axogen, Inc. (AXGN) shares worth $890.0 million in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by TYNDALL JOSEPH A. on September 2, 2026 of 3,500 shares at $49.70 per share.
- In the last 90 days, AXGN insiders reported 0 open-market purchases ($0) and 4 open-market sales ($4.7M) on Form 4, a net sale of $4.7M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $225.2M
- +20.2% vs prior year
- Insiders · 90 days
- 0 buys · 4 sells
- Net −$4.7M
- 13F holders
- 32 funds
- $890.0M · +3 vs prior quarter
- Latest 8-K
- Oct 1, 2026
- Item 7.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: Development and commercialization of innovative peripheral nerve regeneration and repair technologies
- New product: FDA-approved Avance® acellular nerve scaffold (December 3, 2025), launching Q2 2026, replacing Avance® Nerve Graft
- Strategic shift: Transition of Avance Products from Section 361 human tissue to licensed biologic under Section 351 with post-marketing study commitments
- Quantitative highlight: Avance Nerve Graft with 17+ years clinical use and over 120,000 implants, US peripheral nerve injury TAM estimated at >$5.6 billion
- Noteworthy fact: Launch of Avive+ Soft Tissue Matrix in June 2024, an amniotic membrane allograft under FDA HCT/P regulations subject to future oversight changes
Risk Factors
- Regulatory risk: FDA accelerated approval of Avance Products contingent on confirmatory trials with milestones through 2031; failure may cause withdrawal or restrictions
- Operational risk: Avance manufacturing relies on variable donated cadaveric tissue, causing potential lot failures, product recalls, and supply shortages
- Geopolitical/macroeconomic risk: Healthcare reimbursement uncertainty; CMS reimbursement changes in 2026 increased outpatient nerve repair payments by 96%-221%, impacting commercial payor coverage
- Competitive risk: Market acceptance dependent on overcoming surgeon concerns of allograft disease transmission and competing surgical techniques
- Financial risk: Dependence on six products, with Avance generating ~60% revenue; disruption in Avance sales could materially impact financials
Management Discussion & Analysis
- Revenue $225.2M, up 20.2% YoY from $187.3M driven by unit volume, price, and product mix changes
- Gross margin 74.3% vs 75.8% YoY, gross profit $167.4M up 17.9% from $142.0M, impacted by $1.9M one-time FDA BLA costs
- Sales & marketing best performer: $97.7M (+24.6%), R&D $32.9M (+18.4%), G&A $44.6M (+14.2%)
- Cash, cash equivalents, restricted cash, and investments $45.5M up $6.0M YoY; $133.3M net proceeds from Jan 2026 equity raise, $69.7M used to repay term loan
- 2026 outlook positive: new Level 3 nerve procedure code boosts reimbursement 35-40%, expanded insurance coverage to 19.8M lives, FDA approval dependency noted as key risk
AI summary of the AXGN 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Quarterly revenue $69,731, up 23.1% YoY from $56,662, driven by higher unit volume and pricing
- Gross margin 72.7% vs 74.2% YoY; operating margin (3.1%) vs 3.0%
- Broad-based market growth, including Extremities, Oral Maxillofacial & Head and Neck, and Breast
- Cash, equivalents and investments $111,412 vs $41,528 at December 31, 2025, following $133,252 offering proceeds
- Operating cash flow $8,786 vs $(5,449) YoY; $69,707 Credit Facility payoff and $7,000 Trace Biosciences investment
- Headwinds: macroeconomic instability, geopolitical tensions and potential trade-war disruption could cause revenue fluctuations
Risk Factors
- No material changes to risk factors disclosed in Axogen’s 2025 Form 10-K
- Investment risk: potential material harm to business, financial condition, and results
- Market risk: adverse developments could reduce common-stock trading price
- Investor loss risk: shareholders could lose part or all of their investment
AI summary of the AXGN 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 7.01: Regulation FD Disclosure
- Axogen completed its previously announced acquisition of BioCircuit Technologies on October 1, 2026
- Transaction shifts from announced deal to executed ownership, enabling integration and realization of strategic benefits
Item EX-99.1: Item EX-99.1
- Acquisition of BioCircuit Technologies completed, adding NerveTape™, the first FDA-cleared sutureless peripheral nerve repair device
- BioCircuit expected to contribute approximately $6 million revenue in fourth-quarter 2026 and $34 million in 2027
Item EX-99.1: Item EX-99.1
- $200M cash acquisition of BioCircuit, subject to customary adjustments and $1.0M post-closing holdback
- NerveTape™ adds the first FDA-approved sutureless peripheral nerve repair device, broadening Axogen’s addressable market
Item 7.01: Regulation FD Disclosure
- Exhibits 99.1–99.3 furnished under Regulation FD, making accompanying disclosures publicly available
- Materials not deemed filed under Exchange Act Section 18, limiting liability exposure
Item 1.01: Entry into a Material Definitive Agreement
- $200.0M cash acquisition of BioCircuit, adding NerveTape and ConformaWrap peripheral-nerve repair products
- Funding planned through public offering of 4,910,000 shares at $42.50, with 736,500-share overallotment option
Item 7.01: Regulation FD Disclosure
- Corrected investor presentation furnished as Exhibit 99.2 under Regulation FD
- Amendment supersedes the previously furnished investor presentation
Item 1.01: Entry into a Material Definitive Agreement
- Merger Agreement with BioCircuit filed for investor access, signaling a proposed strategic transaction
- Agreement language limits reliance on representations, warranties and covenants as factual descriptions
Item EX-99.1: Item EX-99.1
- Planned $200M cash acquisition of BioCircuit Technologies, subject to customary adjustments and closing conditions
- BioCircuit contributes ~$24M annualized Q2 2026 revenue, $11M 2025 revenue, ~80% gross margins, and $11M standalone EBITDA
AI summaries of AXGN 8-K current reports filed with the SEC. What 8-K item codes mean
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| TYNDALL JOSEPH A. | Sell | Sep 2, 2026 | 3,500 | $49.70 |
| Wendell Amy McBride | M | Aug 11, 2026 | 13,353 | $14.85 |
| Wendell Amy McBride | Sell | Aug 11, 2026 | 13,353 | $48.42 |
| Wendell Amy McBride | M | Aug 11, 2026 | 13,353 | - |
| Began Marc A | Sell | Aug 10, 2026 | 67,500 | $47.34 |
| Began Marc A | M | Aug 10, 2026 | 67,500 | - |
| Began Marc A | M | Aug 10, 2026 | 67,500 | $8.16 |
| Weiler Kathy Johnson | Sell | Aug 7, 2026 | 14,150 | $45.30 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $187.3M | $225.2M |
| Gross Profit | - | $142.0M | $167.4M |
| Operating Income | - | -$3.3M | -$7.8M |
| Net Income | - | -$10.0M | -$15.7M |
| Gross Margin | - | 75.8% | 74.3% |
| Op. Margin | - | -1.8% | -3.5% |
| Net Margin | - | -5.3% | -7.0% |
| Balance Sheet | |||
| Total Assets | $196.8M | $203.7M | $221.7M |
| Equity | $95.7M | $103.9M | $128.8M |
| ROE | - | -9.6% | -12.2% |
| Per Share | |||
| EPS | - | $-0.23 | $-0.34 |
| Cash Flow | |||
| Operating CF | - | $4.5M | $812K |
| CapEx | - | $3.1M | $3.7M |
Source: XBRL data in Axogen, Inc. (AXGN)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate AXGN share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 32 | $890.0M |
| Q1 2026 | 29 | $569.9M |
| Q4 2025 | 25 | $494.1M |
| Q3 2025 | 26 | $241.0M |
| Q2 2025 | 28 | $151.3M |
| Q1 2025 | 26 | $204.7M |
| Q4 2024 | 21 | $112.2M |
| Q3 2024 | 16 | $68.7M |
- Citadel Advisors LLC+1.12M (+455%)
- T. Rowe Price Group+967.3K (+1905%)
- Goldman Sachs Group+678.6K (+116%)
- BlackRock+548.4K (+14%)
- Raymond James Financial+234.8K (+231%)
- Millennium Management−760.0K (-97%)
- Morgan Stanley−375.1K (-12%)
- Two Sigma Investments−362.9K (-53%)
- Dimensional Fund Advisors−171.8K (-29%)
- Bank of America Corp−153.4K (-33%)
- Blackstone Group+15.5K
- Marex Group plc+10.1K
- Mangrove Partners+5.0K
Source: 13F-HR filings on SEC EDGAR (aggregated from 203 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
AXGN filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 8-K | Oct 1, 2026 | - | Analysis | - |
| 8-K | Sep 10, 2026 | - | Analysis | - |
| 8-K | Sep 10, 2026 | - | Analysis | - |
| 4 | Sep 4, 2026 | - | - | - |
| 4 | Aug 12, 2026 | - | - | - |
| 4 | Aug 12, 2026 | - | - | - |
| 4 | Aug 11, 2026 | - | - | - |
| 10-Q | Jul 29, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Jul 29, 2026 | - | Analysis | - |
| 4 | Jun 26, 2026 | - | - | - |
| 4 | Jun 26, 2026 | - | - | - |
| 4 | Jun 26, 2026 | - | - | - |
| 4 | Jun 26, 2026 | - | - | - |
| 4 | Jun 26, 2026 | - | - | - |
| 4 | Jun 26, 2026 | - | - | - |
| 4 | Jun 26, 2026 | - | - | - |
| 4 | Jun 23, 2026 | - | - | - |
| 4 | Jun 23, 2026 | - | - | - |
| 4 | Jun 23, 2026 | - | - | - |
| 4 | Jun 23, 2026 | - | - | - |
| 8-K | Jun 23, 2026 | - | Analysis | - |
| 4 | Jun 23, 2026 | - | - | - |
| 4 | Jun 23, 2026 | - | - | - |
| 4 | Jun 23, 2026 | - | - | - |
| 4 | May 12, 2026 | - | - |
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AXGN SEC filings: frequently asked questions
Are AXGN insiders buying or selling?
In the last 90 days, Axogen, Inc. (AXGN) officers, directors and 10% owners reported no open-market purchases and 4 open-market sales worth $4.7 million by 4 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold AXGN stock?
As of June 30, 2026, the largest Axogen, Inc. (AXGN) holders among the 13F filers tracked by SignalX were BlackRock ($204.1 million), Morgan Stanley ($126.9 million), Vanguard Capital Management LLC ($104.3 million), Citadel Advisors LLC ($62.9 million), Goldman Sachs Group ($58.3 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was AXGN's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Axogen, Inc. (AXGN) reported revenue of $225.2 million (up 20.2% from FY2024) and a net loss of $15.7 million. Diluted EPS was -$0.34. The figures come from the XBRL data in the 10-K.
What are the main risks in AXGN's latest 10-K?
In the 10-K filed February 24, 2026, Axogen, Inc. (AXGN) flagged: Regulatory risk: FDA accelerated approval of Avance Products contingent on confirmatory trials with milestones through 2031; failure may cause withdrawal or restrictions. Operational risk: Avance manufacturing relies on variable donated cadaveric tissue, causing potential lot failures, product recalls, and supply shortages. (AI summary of the Risk Factors section.)
What did AXGN report in its latest 8-K?
Axogen, Inc. (AXGN) filed an 8-K on October 1, 2026 reporting Item 7.01 (Regulation FD Disclosure). Axogen completed its previously announced acquisition of BioCircuit Technologies on October 1, 2026.
What are the latest AXGN SEC filings?
Axogen, Inc. (AXGN) filed its latest 10-K annual report on February 24, 2026, a 10-Q quarterly report on July 29, 2026, an 8-K current report on October 1, 2026 and a Form 4 insider filing on September 4, 2026.
What is AXGN's SEC CIK number?
Axogen, Inc. (AXGN)'s SEC Central Index Key (CIK) is 805928. EDGAR lists every AXGN filing under that number.
Ask anything about AXGN
The research agent reads AXGN's filings, financials, insider trades and 13F holders, then answers with sources.