Axogen, Inc.
AXGN · Electromedical & Electrotherapeutic Apparatus · 53.2M shares · +2%/yr ↑ shares · EDGAR filings ↗
Reference price $42.60 · est. market cap ~$2.3B — last insider sale, 2026-05-08 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C66Axogen — nerve-repair medtech nearing breakeven, well-funded.
Strengths
- High gross margin (74%, 74th pct), revenue +20%
- Very strong liquidity (current 5.1); cash runway 100th pct
- Loss narrowing (net income +58%)
Risks
- Still operating at a net loss
- Commercialization/adoption pace risk
- Reimbursement and competition
Notable findings
- Net lossNet loss (net margin -7.0%)
- Cash burnNegative free cash flow (-2.9M)
- Insider sellingInsider selling — 8 open-market sale(s) by 7 insider(s) (cluster of 7 insiders, ~$2M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
74.3%
Operating margin
-3.5%
Net margin
-7.0%
Return on equity
-12.2%
Return on assets
-7.1%
ROIC
-3.5%
Revenue growth (QoQ)
2.6%
Debt / equity
0.4×
Current ratio
5.1×
Free cash flow
-$3M
EBITDA
-$1M
Tangible book value
$122M
Cash & investments
$42M
Cash runway
57q
Stock comp / revenue
13.4%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-19 | JOHNSON JOHN | Option exercise | 14K | — |
| 2026-06-19 | Wendell Amy McBride | Option exercise | 14K | — |
| 2026-06-19 | Levine Alan M | Option exercise | 14K | — |
| 2026-06-19 | Weiler Kathy Johnson | Option exercise | 14K | — |
| 2026-06-19 | THOMAS PAUL | Option exercise | 19K | — |
| 2026-06-19 | TYNDALL JOSEPH A. | Option exercise | 14K | — |
| 2026-06-19 | Burke William P. Mr. | Option exercise | 14K | — |
| 2026-05-08 | Wendell Amy McBride | Option exercise | 1.6K | $14.85 |
| 2026-05-08 | Wendell Amy McBride | Sell | 1.6K | $42.60 |
| 2026-05-07 | JOHNSON JOHN | Option exercise | 11K | $7.04 |
| 2026-05-07 | JOHNSON JOHN | Sell | 11K | $43.26 |
| 2026-05-07 | Weiler Kathy Johnson | Option exercise | 16K | $6.95 |
| 2026-05-07 | Weiler Kathy Johnson | Sell | 16K | $44.09 |
| 2026-05-07 | Kemp Jens | Sell | 4.0K | $43.44 |
| 2026-05-07 | Hartley Lindsey Marie | Option exercise | 2.5K | $8.20 |
| 2026-05-07 | Hartley Lindsey Marie | Sell | 478 | $43.67 |
| 2026-05-07 | Hartley Lindsey Marie | Option exercise | 3.0K | $8.27 |
| 2026-05-07 | Hartley Lindsey Marie | Sell | 573 | $43.67 |
| 2026-05-07 | Quackenbush Doris | Sell | 3.9K | $43.51 |
| 2026-03-16 | DeVinney Erick Wayne | Option exercise | 6.4K | — |
| 2026-03-16 | DeVinney Erick Wayne | Tax withheld | 2.9K | $32.84 |
| 2026-03-16 | DeVinney Erick Wayne | Option exercise | 12K | — |
| 2026-03-16 | DeVinney Erick Wayne | Sell | 5.2K | $32.84 |
| 2026-03-16 | Hartley Lindsey Marie | Option exercise | 4.0K | — |
| 2026-03-16 | Hartley Lindsey Marie | Tax withheld | 1.6K | $32.84 |
| 2026-03-16 | Hartley Lindsey Marie | Option exercise | 5.0K | — |
| 2026-03-16 | Hartley Lindsey Marie | Tax withheld | 2.0K | $32.84 |
| 2026-03-01 | Began Marc A | Option exercise | 11K | — |
| 2026-03-01 | Kemp Jens | Tax withheld | 3.0K | $30.65 |
| 2026-03-01 | DeVinney Erick Wayne | Tax withheld | 11K | $30.65 |
| 2026-03-01 | Began Marc A | Tax withheld | 4.4K | $30.65 |
| 2026-02-26 | DeVinney Erick Wayne | Tax withheld | 11K | $31.90 |
| 2026-02-26 | Began Marc A | Grant | 34K | — |
| 2026-02-26 | Began Marc A | Tax withheld | 8.8K | $31.90 |
| 2026-02-26 | Kemp Jens | Grant | 51K | — |
| 2026-02-26 | Hartley Lindsey Marie | Grant | 17K | — |
| 2026-02-26 | Hartley Lindsey Marie | Tax withheld | 6.6K | $31.90 |
| 2026-02-26 | Kemp Jens | Tax withheld | 15K | $31.90 |
| 2026-02-26 | DeVinney Erick Wayne | Grant | 34K | — |
| 2026-02-22 | Hartley Lindsey Marie | Grant | 18K | — |
| 2026-02-22 | Hartley Lindsey Marie | Tax withheld | 6.7K | $35.38 |
| 2025-12-16 | Wendell Amy McBride | Option exercise | 20K | $6.30 |
| 2025-12-16 | Wendell Amy McBride | Option exercise | 18K | $7.04 |
| 2025-12-16 | Wendell Amy McBride | Sell | 5.0K | $29.31 |
| 2025-12-16 | Wendell Amy McBride | Sell | 20K | $29.31 |
| 2025-12-16 | Wendell Amy McBride | Sell | 18K | $29.31 |
| 2025-12-16 | Weiler Kathy Johnson | Option exercise | 22K | $6.95 |
| 2025-12-16 | Weiler Kathy Johnson | Option exercise | 18K | $7.04 |
| 2025-12-16 | Wendell Amy McBride | Option exercise | 5.0K | $8.95 |
| 2025-12-16 | Weiler Kathy Johnson | Sell | 18K | $29.55 |
| 2025-12-16 | Weiler Kathy Johnson | Sell | 22K | $29.55 |
| 2025-12-16 | Weiler Kathy Johnson | Sell | 6.6K | $29.55 |
| 2025-12-15 | Hartley Lindsey Marie | Sell | 15K | $29.86 |
| 2025-12-15 | Hartley Lindsey Marie | Option exercise | 15K | $8.27 |
| 2025-12-11 | Began Marc A | Sell | 13K | $30.00 |
| 2025-12-10 | DALE MICHAEL D | Sell | 25K | $30.00 |
| 2025-12-09 | TYNDALL JOSEPH A. | Sell | 11K | $30.98 |
| 2025-12-09 | JOHNSON JOHN | Option exercise | 8.5K | $6.30 |
| 2025-12-09 | JOHNSON JOHN | Sell | 8.5K | $29.98 |
| 2025-12-09 | JOHNSON JOHN | Sell | 13K | $29.98 |
| 2025-12-09 | DALE MICHAEL D | Sell | 61K | $31.21 |
| 2025-12-09 | TYNDALL JOSEPH A. | Option exercise | 14K | $7.04 |
| 2025-12-09 | TYNDALL JOSEPH A. | Option exercise | 11K | $10.95 |
| 2025-12-09 | TYNDALL JOSEPH A. | Sell | 14K | $30.98 |
| 2025-12-09 | DeVinney Erick Wayne | Sell | 20K | $31.21 |
| 2025-12-09 | Kemp Jens | Sell | 8.2K | $31.21 |
| 2025-12-09 | Began Marc A | Sell | 9.3K | $31.21 |
| 2025-12-09 | THOMAS PAUL | Sell | 21K | $29.61 |
| 2025-12-08 | JOHNSON JOHN | Sell | 12K | $31.26 |
| 2025-12-08 | JOHNSON JOHN | Option exercise | 12K | $6.30 |
| 2025-12-08 | JOHNSON JOHN | Sell | 12K | $31.22 |
| 2025-12-08 | Hartley Lindsey Marie | Option exercise | 20K | $15.22 |
| 2025-12-08 | Hartley Lindsey Marie | Option exercise | 5.0K | $8.20 |
| 2025-12-08 | Hartley Lindsey Marie | Sell | 12K | $31.56 |
| 2025-12-08 | Hartley Lindsey Marie | Sell | 2.9K | $31.56 |
| 2025-12-04 | DeVinney Erick Wayne | Grant | 40K | — |
| 2025-12-04 | Began Marc A | Grant | 22K | — |
| 2025-12-04 | Kemp Jens | Grant | 22K | — |
| 2025-12-04 | DALE MICHAEL D | Grant | 150K | — |
| 2025-11-11 | Burke William P. Mr. | Option exercise | 3.6K | $8.14 |
| 2025-11-11 | Burke William P. Mr. | Sell | 3.6K | $24.02 |
| 2025-11-10 | Burke William P. Mr. | Option exercise | 19K | $8.14 |
| 2025-11-10 | Burke William P. Mr. | Sell | 19K | $24.01 |
| 2025-11-06 | Burke William P. Mr. | Option exercise | 5.3K | $8.14 |
| 2025-11-06 | Burke William P. Mr. | Sell | 5.3K | $24.01 |
| 2025-11-05 | Burke William P. Mr. | Option exercise | 11K | $8.14 |
| 2025-11-05 | Burke William P. Mr. | Sell | 11K | $24.05 |
| 2025-10-30 | Burke William P. Mr. | Option exercise | 18K | $7.04 |
| 2025-10-30 | Burke William P. Mr. | Sell | 18K | $23.00 |
| 2025-10-29 | Burke William P. Mr. | Option exercise | 20K | $6.30 |
| 2025-10-29 | Burke William P. Mr. | Sell | 20K | $19.15 |
| 2025-10-29 | Burke William P. Mr. | Option exercise | 20K | $8.14 |
| 2025-10-29 | Burke William P. Mr. | Sell | 20K | $22.00 |
| 2025-10-22 | Burke William P. Mr. | Sell | 1.5K | $18.02 |
| 2025-10-06 | Burke William P. Mr. | Sell | 736 | $18.00 |
| 2025-10-03 | Burke William P. Mr. | Sell | 7.6K | $18.21 |
| 2025-10-03 | Burke William P. Mr. | Sell | 15K | $18.21 |
| 2025-10-02 | Burke William P. Mr. | Sell | 2.4K | $18.01 |
| 2025-10-02 | Burke William P. Mr. | Sell | 7.6K | $18.01 |
| 2025-09-16 | DeVinney Erick Wayne | Sell | 1.1K | $16.29 |
| 2025-09-13 | DeVinney Erick Wayne | Grant | 2.5K | — |
| 2025-06-10 | TYNDALL JOSEPH A. | Sell | 27K | $10.72 |
| 2025-06-10 | TYNDALL JOSEPH A. | Option exercise | 7.6K | $6.30 |
| 2025-06-10 | TYNDALL JOSEPH A. | Option exercise | 4.0K | $7.04 |
| 2025-06-09 | Burke William P. Mr. | Sell | 4.1K | $10.61 |
| 2025-06-09 | NEELS GUIDO J | Sell | 4.1K | $10.61 |
| 2025-06-09 | JOHNSON JOHN | Sell | 4.1K | $10.61 |
| 2025-06-09 | Weiler Kathy Johnson | Sell | 4.1K | $10.61 |
| 2025-06-09 | Levine Alan M | Sell | 4.1K | $10.61 |
| 2025-06-09 | Wendell Amy McBride | Sell | 4.1K | $10.61 |
| 2025-05-22 | TYNDALL JOSEPH A. | Sell | 7.2K | $11.20 |
| 2025-05-22 | TYNDALL JOSEPH A. | Option exercise | 13K | $6.30 |
| 2025-05-22 | TYNDALL JOSEPH A. | Sell | 13K | $11.20 |
| 2025-05-19 | TYNDALL JOSEPH A. | Sell | 2.5K | $11.63 |
| 2025-03-19 | DeVinney Erick Wayne | Sell | 15K | $17.50 |
| 2025-03-16 | DeVinney Erick Wayne | Option exercise | 6.4K | — |
| 2025-03-16 | DeVinney Erick Wayne | Option exercise | 3.0K | — |
| 2025-03-16 | DeVinney Erick Wayne | Option exercise | 23K | — |
| 2025-03-04 | Began Marc A | Tax withheld | 5.9K | $18.36 |
| 2025-03-04 | DeVinney Erick Wayne | Tax withheld | 8.3K | $18.35 |
| 2025-03-04 | Kemp Jens | Tax withheld | 4.0K | $18.36 |
| 2025-03-03 | Wendell Amy McBride | Sell | 5.0K | $20.02 |
| 2025-03-01 | Began Marc A | Option exercise | 22K | — |
| 2025-02-28 | DeVinney Erick Wayne | Option exercise | 25K | — |
| 2025-02-25 | Began Marc A | Tax withheld | 814 | $16.50 |
| 2025-02-25 | Kemp Jens | Tax withheld | 814 | $16.49 |
| 2025-02-25 | Kemp Jens | Tax withheld | 814 | $16.49 |
| 2025-02-25 | DeVinney Erick Wayne | Tax withheld | 972 | $16.50 |
| 2025-02-22 | Kemp Jens | Option exercise | 2.5K | — |
| 2025-02-22 | DeVinney Erick Wayne | Grant | 2.5K | — |
| 2025-02-22 | Began Marc A | Grant | 2.5K | — |
| 2025-02-22 | Kemp Jens | Option exercise | 2.5K | — |
| 2025-01-06 | Naor Nir | Tax withheld | 39K | $15.22 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-23 | Shareholder vote | filing ↗ |
| 2026-04-28 | ResultsReg FDExhibits | filing ↗ |
| 2026-02-24 | ResultsReg FDExhibits | filing ↗ |
| 2026-01-23 | Material agreementOtherExhibits | filing ↗ |
| 2026-01-12 | ResultsReg FDExhibits | filing ↗ |
| 2025-12-05 | Exec/director changeExhibits | filing ↗ |
| 2025-12-04 | Reg FDOtherExhibits | filing ↗ |
| 2025-10-29 | ResultsReg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-23 | 2026-06-23 | 0000805928-26-000081 ↗ |
| 8-K | 2026-04-28 | 2026-04-28 | 0000805928-26-000051 ↗ |
| 10-Q | 2026-04-28 | 2026-03-31 | 0000805928-26-000053 ↗ |
| 10-K | 2026-02-24 | 2025-12-31 | 0000805928-26-000031 ↗ |
| 8-K | 2026-02-24 | 2026-02-24 | 0000805928-26-000028 ↗ |
| 8-K | 2026-01-23 | 2026-01-21 | 0000805928-26-000026 ↗ |
| 8-K | 2026-01-12 | 2026-01-12 | 0000805928-26-000004 ↗ |
| 8-K | 2025-12-05 | 2025-12-03 | 0000805928-25-000146 ↗ |
| 8-K | 2025-12-04 | 2025-12-03 | 0000805928-25-000140 ↗ |
| 8-K | 2025-10-29 | 2025-10-29 | 0000805928-25-000128 ↗ |
| 10-Q | 2025-10-29 | 2025-09-30 | 0000805928-25-000130 ↗ |
| 8-K | 2025-08-25 | 2025-08-22 | 0000805928-25-000112 ↗ |