10-Q Filing

AXOGEN, INC. CIK: 805928 Q3 2014

Filing Information

Form Type	10-Q
Accession Number	`0001104659-14-080372`
Period End Date	20140930
Filing Date	20141113
Fiscal Year	2014
Fiscal Period	Q3
XBRL Instance	axgn-20140930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 60 Cash Flow Statement 53

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$69.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$59.00K	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`	$13.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.80M	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`	$22.59M	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 $69,000 and $59,000, respectively	`AccountsReceivableNetCurrent`	$2.74M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of approximately $69,000 and $59,000, respectively	`AccountsReceivableNetCurrent`	$1.89M	USD	Point-in-time
Inventory	`InventoryNet`	$3.35M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	17.34M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	17.47M	shares	Point-in-time
Inventory	`InventoryNet`	$3.40M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$100.92K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$296.72K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.99M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$25.66M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$613.17K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$381.69K	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$576.38K	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$570.40K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNoncurrentNet`	$914.93K	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`	$20.10M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.02M	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`	$2.03M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.10M	USD	Point-in-time
Note Payable - Revenue Interest Purchase Agreement	`LongTermNotesPayable`	$28.17M	USD	Point-in-time
Note Payable - Revenue Interest Purchase Agreement	`LongTermNotesPayable`	$25.36M	USD	Point-in-time
Long Term Deferred Revenue	`DeferredRevenueNoncurrent`	$85.88K	USD	Point-in-time
Long Term Deferred Revenue	`DeferredRevenueNoncurrent`	$75.17K	USD	Point-in-time
Total liabilities	`Liabilities`	$27.55M	USD	Point-in-time
Total liabilities	`Liabilities`	$30.28M	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; 17,466,381 and 17,339,561 shares issued and outstanding	`CommonStockValue`	$174.66K	USD	Point-in-time
Common stock, $.01 par value; 50,000,000 shares authorized; 17,466,381 and 17,339,561 shares issued and outstanding	`CommonStockValue`	$173.40K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$73.26M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$72.37M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-83.62M	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`	$-10.19M	USD	Point-in-time
Total Liabilities and Shareholders' equity	`LiabilitiesAndStockholdersEquity`	$27.68M	USD	Point-in-time
Total Liabilities and Shareholders' equity	`LiabilitiesAndStockholdersEquity`	$20.10M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$2.96M	USD	1 Quarter
Revenues	`Revenues`	$4.67M	USD	1 Quarter
Revenues	`Revenues`	$12.02M	USD	3 Qtrs
Revenues	`Revenues`	$7.96M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$1.84M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$650.21K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$2.49M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$896.18K	USD	1 Quarter
Gross profit	`GrossProfit`	$2.31M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.78M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.12M	USD	3 Qtrs
Gross profit	`GrossProfit`	$9.54M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$9.33M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$3.25M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$2.76M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$7.18M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$2.05M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.50M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$681.23K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$593.64K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.23M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.24M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.65M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$5.25M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$16.63M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$12.91M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$5.58M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$4.58M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.80M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-7.09M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.28M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.79M	USD	3 Qtrs
Interest expense	`InterestExpense`	$3.96M	USD	3 Qtrs
Interest expense	`InterestExpense`	$1.38M	USD	1 Quarter
Interest expense	`InterestExpense`	$3.51M	USD	3 Qtrs
Interest expense	`InterestExpense`	$1.21M	USD	1 Quarter
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$158.65K	USD	3 Qtrs
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$61.22K	USD	1 Quarter
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$146.65K	USD	3 Qtrs
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$55.22K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-696.00	USD	3 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-4.89K	USD	3 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$32.00	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$417.00	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.44M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.28M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-3.65M	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-4.13M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-11.22M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-3.24M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.45M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-3.55M	USD	1 Quarter
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.47M	shares	1 Quarter
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.44M	shares	3 Qtrs
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	12.21M	shares	3 Qtrs
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	14.32M	shares	1 Quarter
Loss Per Common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.86	USD	3 Qtrs
Loss Per Common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.64	USD	3 Qtrs
Loss Per Common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.25	USD	1 Quarter
Loss Per Common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.19	USD	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-11.22M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-3.24M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.45M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-3.55M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$111.39K	USD	3 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$60.87K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$33.47K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$44.18K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$11.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$15.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$158.65K	USD	3 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$146.65K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$227.55K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$534.67K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$701.70K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$142.20K	USD	1 Quarter
Stock grants	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$60.12K	USD	3 Qtrs
Interest added to note	`PaidInKindInterest`	$2.75M	USD	3 Qtrs
Interest added to note	`PaidInKindInterest`	$2.81M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$690.13K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$849.34K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-52.32K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$308.95K	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-9.82K	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-195.80K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-63.85K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-162.63K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-10.71K	USD	3 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-8.06M	USD	3 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-8.02M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$342.88K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$66.56K	USD	3 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$39.45K	USD	3 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$50.26K	USD	3 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-116.83K	USD	3 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-382.33K	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$16.78M	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$134.67K	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$73.02K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$16.86M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$134.67K	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.68M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-8.27M	USD	3 Qtrs
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$13.91M	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`	$11.80M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$22.59M	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`	$20.07M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.80M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$22.59M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$749.86K	USD	3 Qtrs
Cash paid for interest	`InterestPaid`	$1.15M	USD	3 Qtrs

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