10-Q Filing

AXOGEN, INC. CIK: 805928 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001104659-14-056392`
Period End Date	20140630
Filing Date	20140804
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	axgn-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 64 Cash Flow Statement 52

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$58.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$61.00K	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`	$14.17M	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`	$20.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.69M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of approximately $61,000 and $58,000, respectively	`AccountsReceivableNetCurrent`	$1.89M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	17.47M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	17.34M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of approximately $61,000 and $58,000, respectively	`AccountsReceivableNetCurrent`	$2.53M	USD	Point-in-time
Inventory	`InventoryNet`	$3.40M	USD	Point-in-time
Inventory	`InventoryNet`	$3.41M	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
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$296.72K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$144.97K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$25.66M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$20.25M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$381.69K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$597.28K	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$570.40K	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$578.60K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNoncurrentNet`	$970.15K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNoncurrentNet`	$1.07M	USD	Point-in-time
Total Assets	`Assets`	$27.68M	USD	Point-in-time
Total Assets	`Assets`	$22.40M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.08M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.24M	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`	$2.25M	USD	Point-in-time
Note Payable - Revenue Interest Purchase Agreement	`LongTermNotesPayable`	$27.24M	USD	Point-in-time
Note Payable - Revenue Interest Purchase Agreement	`LongTermNotesPayable`	$25.36M	USD	Point-in-time
Long Term Deferred Revenue	`DeferredRevenueNoncurrent`	$78.74K	USD	Point-in-time
Long Term Deferred Revenue	`DeferredRevenueNoncurrent`	$85.88K	USD	Point-in-time
Total liabilities	`Liabilities`	$27.55M	USD	Point-in-time
Total liabilities	`Liabilities`	$29.57M	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; 17,466,091 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; 17,466,091 and 17,339,561 shares issued and outstanding	`CommonStockValue`	$174.66K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$72.37M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$73.04M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-80.39M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-72.41M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$136.63K	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$-7.18M	USD	Point-in-time
Total Liabilities and Shareholders' equity	`LiabilitiesAndStockholdersEquity`	$22.40M	USD	Point-in-time
Total Liabilities and Shareholders' equity	`LiabilitiesAndStockholdersEquity`	$27.68M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$7.35M	USD	2 Qtrs
Revenues	`Revenues`	$2.86M	USD	1 Quarter
Revenues	`Revenues`	$4.21M	USD	1 Quarter
Revenues	`Revenues`	$5.01M	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$633.29K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$1.19M	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$887.82K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$1.59M	USD	2 Qtrs
Gross profit	`GrossProfit`	$2.23M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.33M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.76M	USD	2 Qtrs
Gross profit	`GrossProfit`	$3.81M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$3.35M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$4.42M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$2.53M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$6.08M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$905.26K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.37M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$498.32K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$555.76K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.71M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.40M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.61M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.00M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$5.62M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$8.33M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$11.05M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$4.42M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.19M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.52M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-5.29M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.30M	USD	1 Quarter
Interest expense	`InterestExpense`	$2.29M	USD	2 Qtrs
Interest expense	`InterestExpense`	$2.58M	USD	2 Qtrs
Interest expense	`InterestExpense`	$1.22M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.39M	USD	1 Quarter
Interest expense - deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$52.22K	USD	1 Quarter
Interest expense - deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$41.22K	USD	1 Quarter
Interest expense - deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$103.43K	USD	2 Qtrs
Interest expense - deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$85.43K	USD	2 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$1.39K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-728.00	USD	2 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$588.00	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-5.30K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-2.38M	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.26M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-2.69M	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.44M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-7.98M	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-3.46M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-3.74M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-6.90M	USD	2 Qtrs
Net loss available to shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-7.98M	USD	2 Qtrs
Net loss available to shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-6.90M	USD	2 Qtrs
Net loss available to shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.74M	USD	1 Quarter
Net loss available to shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.46M	USD	1 Quarter
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.14M	shares	1 Quarter
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.46M	shares	1 Quarter
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.13M	shares	2 Qtrs
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.42M	shares	2 Qtrs
Loss Per Common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.46	USD	2 Qtrs
Loss Per Common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.62	USD	2 Qtrs
Loss Per Common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.21	USD	1 Quarter
Loss Per Common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.31	USD	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-7.98M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-3.46M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.74M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.90M	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$67.89K	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$42.81K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$15.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$22.10K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$29.41K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$11.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$85.43K	USD	2 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$103.43K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$474.14K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$392.47K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$132.56K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$216.60K	USD	1 Quarter
Stock grants	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$60.12K	USD	2 Qtrs
Interest added to note	`PaidInKindInterest`	$1.88M	USD	2 Qtrs
Interest added to note	`PaidInKindInterest`	$1.80M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$633.25K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$365.44K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$424.67K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$12.00K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-151.74K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-59.93K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$155.11K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$108.19K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-7.14K	USD	2 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-5.72M	USD	2 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-5.16M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$45.31K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$283.48K	USD	2 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$39.06K	USD	2 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$30.30K	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-84.38K	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-313.78K	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$33.39K	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$134.36K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$33.39K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$134.36K	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.21M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.90M	USD	2 Qtrs
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$14.17M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$20.07M	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`	$8.69M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.17M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$20.07M	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`	$8.69M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$664.55K	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	$458.39K	USD	2 Qtrs

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