Axogen

Axogen helps people regain feeling after nerve injuries. The company makes biological grafts to repair damaged nerves. These products help surgeons fix nerves without extra surgery.

Fixing the Body's Wiring

• Avance Nerve Graft: Processed human nerve tissue used to bridge gaps in severed nerves; eliminates the need for a second surgical site.
• Axoguard Nerve Connector: Pig-tissue sleeve that helps surgeons reconnect nerves without tension; provides a flexible bridge for healing.
• Axoguard Nerve Protector: Biological wrap that shields damaged nerves and prevents them from sticking to surrounding soft tissue.
• Axoguard Nerve Cap: Small cover for nerve ends designed to prevent painful growths called neuromas from developing.
• Avive Soft Tissue Matrix: Human umbilical cord membrane used to separate and protect tissues during the healing phase of surgery.

Strategic Steps Forward

• Completed a public offering of 4.6 million shares in January 2026 to raise $133.3 million.
• Repaid a credit facility with Oberland Capital in January 2026 to eliminate long-term debt.
• Secured positive coverage from Cigna and Elevance Health for its peripheral nerve repair solutions.
• Received FDA approval for the Avance biologics license in December 2025 for adult and pediatric patients.
• Benefited from a new Level 3 Nerve Procedure Code that increased facility reimbursement rates in January 2026.

Why Axogen Stands Out

Axogen focuses exclusively on peripheral nerve regeneration and repair. It manages its own processing and distribution facilities in Ohio and Texas to control its biological supply chain.

By the Numbers

• Revenue was $61.5 million in Q1 2026, up 26.6% from Q1 2025.
• Gross profit reached $46.2 million in Q1 2026, up 32.2% year-over-year.
• Net loss reached $19.6 million in Q1 2026, worsened from $3.8 million in Q1 2025.
• Operating cash flow was $1.6 million in Q1 2026, improved from a $13.2 million loss in Q1 2025.

The Evolution of Axogen

Axogen has transitioned from a development-stage firm to a commercial leader in the nerve repair market. By securing FDA approvals and broader insurance coverage, the company is scaling its biological solutions for traumatic injuries.