10-Q Filing

AXOGEN, INC. CIK: 805928 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001104659-14-032636`
Period End Date	20140331
Filing Date	20140430
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	axgn-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 32 Cash Flow Statement 46

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$59.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$54.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.20M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.81M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.07M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	17.34M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of approximately $54,000 and $58,000, respectively	`AccountsReceivableNetCurrent`	$1.89M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	17.45M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of approximately $54,000 and $58,000, respectively	`AccountsReceivableNetCurrent`	$1.97M	USD	Point-in-time
Inventory	`InventoryNet`	$3.47M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	17.34M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	17.45M	shares	Point-in-time
Inventory	`InventoryNet`	$3.40M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$195.49K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$296.72K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$25.66M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$22.43M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$381.69K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$543.23K	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$570.40K	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$567.79K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNoncurrentNet`	$1.02M	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNoncurrentNet`	$1.07M	USD	Point-in-time
Total Assets	`Assets`	$24.57M	USD	Point-in-time
Total Assets	`Assets`	$27.68M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.91M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.08M	USD	Point-in-time
Current Deferred Revenue	`DeferredRevenueCurrent`	$14.12K	USD	Point-in-time
Current Deferred Revenue	`DeferredRevenueCurrent`	$14.12K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.92M	USD	Point-in-time
Note Payable - Revenue Interest Purchase Agreement	`LongTermNotesPayable`	$25.36M	USD	Point-in-time
Note Payable - Revenue Interest Purchase Agreement	`LongTermNotesPayable`	$26.26M	USD	Point-in-time
Long Term Deferred Revenue	`DeferredRevenueNoncurrent`	$82.31K	USD	Point-in-time
Long Term Deferred Revenue	`DeferredRevenueNoncurrent`	$85.88K	USD	Point-in-time
Total liabilities	`Liabilities`	$28.26M	USD	Point-in-time
Total liabilities	`Liabilities`	$27.55M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $.01 par value; 50,000,000 shares authorized; 17,445,968 and 17,339,561 shares issued and outstanding	`CommonStockValue`	$173.40K	USD	Point-in-time
Common stock, $.01 par value; 50,000,000 shares authorized; 17,445,968 and 17,339,561 shares issued and outstanding	`CommonStockValue`	$174.46K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$72.78M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$72.37M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-72.41M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-76.65M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$-3.69M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$136.63K	USD	Point-in-time
Total Liabilities and Shareholders' equity	`LiabilitiesAndStockholdersEquity`	$27.68M	USD	Point-in-time
Total Liabilities and Shareholders' equity	`LiabilitiesAndStockholdersEquity`	$24.57M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$3.14M	USD	1 Quarter
Revenues	`Revenues`	$2.14M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$560.24K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$701.30K	USD	1 Quarter
Gross profit	`GrossProfit`	$1.58M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.44M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$2.72M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.89M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$812.62K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$406.94K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.89M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.61M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$5.43M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$3.91M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.99M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.32M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.07M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.19M	USD	1 Quarter
Interest expense - deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$51.22K	USD	1 Quarter
Interest expense - deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$44.22K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-2.12K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-5.89K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-1.25M	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-1.11M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.44M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.24M	USD	1 Quarter
Net loss available to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-4.24M	USD	1 Quarter
Net loss available to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.44M	USD	1 Quarter
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.12M	shares	1 Quarter
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.38M	shares	1 Quarter
Loss Per Common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.31	USD	1 Quarter
Loss Per Common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.24	USD	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.44M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.24M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$33.94K	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$23.14K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$14.69K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$10.96K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$44.22K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$51.22K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$259.91K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$257.54K	USD	1 Quarter
Stock grants	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$60.12K	USD	1 Quarter
Interest added to note	`PaidInKindInterest`	$858.15K	USD	1 Quarter
Interest added to note	`PaidInKindInterest`	$891.85K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$129.05K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$71.46K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$67.66K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$269.14K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-45.22K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-101.23K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-60.81K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-175.20K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-3.57K	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-3.15M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.65M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$26.01K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$195.48K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$31.41K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$8.35K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-57.42K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-203.83K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.65K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$92.42K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.65K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$92.42K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.71M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.26M	USD	1 Quarter
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$11.20M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$13.91M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$16.81M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$20.07M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.20M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.91M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.81M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$20.07M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$303.92K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$172.53K	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.