10-Q Filing

AXOGEN, INC. CIK: 805928 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001104659-15-034272`
Period End Date	20150331
Filing Date	20150505
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	axgn-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 30 Cash Flow Statement 48

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$94.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$101.00K	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
Common stock, Par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.81M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$19.26M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.22M	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
Accounts receivable, net of allowance for doubtful accounts of approximately $101,000 and $94,000, respectively	`AccountsReceivableNetCurrent`	$2.87M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	24.93M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	19.49M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of approximately $101,000 and $94,000, respectively	`AccountsReceivableNetCurrent`	$3.16M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	5.44M	shares	Point-in-time
Inventory	`InventoryNet`	$3.34M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	24.93M	shares	Point-in-time
Inventory	`InventoryNet`	$3.21M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	19.49M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$259.95K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$109.37K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$26.02M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$14.41M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$583.42K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$619.03K	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$597.45K	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$577.17K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNoncurrentNet`	$793.50K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNoncurrentNet`	$939.89K	USD	Point-in-time
Total Assets	`Assets`	$28.14M	USD	Point-in-time
Total Assets	`Assets`	$16.40M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$3.42M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.43M	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`	$2.45M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.44M	USD	Point-in-time
Note Payable - Revenue Interest Purchase Agreement	`LongTermNotesPayable`	$25.27M	USD	Point-in-time
Note Payable - Revenue Interest Purchase Agreement	`LongTermNotesPayable`	$25.09M	USD	Point-in-time
Long Term Deferred Revenue	`DeferredRevenueNoncurrent`	$115.38K	USD	Point-in-time
Long Term Deferred Revenue	`DeferredRevenueNoncurrent`	$109.98K	USD	Point-in-time
Total liabilities	`Liabilities`	$27.65M	USD	Point-in-time
Total liabilities	`Liabilities`	$28.82M	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; 24,926,014 and 19,488,814 shares issued and outstanding	`CommonStockValue`	$194.89K	USD	Point-in-time
Common stock, $.01 par value; 50,000,000 shares authorized; 24,926,014 and 19,488,814 shares issued and outstanding	`CommonStockValue`	$249.26K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$92.76M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$78.68M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-93.69M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-90.12M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$-680.50K	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$-11.25M	USD	Point-in-time
Total Liabilities and Shareholders' equity	`LiabilitiesAndStockholdersEquity`	$28.14M	USD	Point-in-time
Total Liabilities and Shareholders' equity	`LiabilitiesAndStockholdersEquity`	$16.40M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$3.14M	USD	1 Quarter
Revenues	`Revenues`	$4.95M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$701.30K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$982.88K	USD	1 Quarter
Gross profit	`GrossProfit`	$2.44M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.97M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$2.72M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$3.93M	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	$812.62K	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	$671.04K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.91M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.89M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$6.51M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$5.43M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.99M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.54M	USD	1 Quarter
Interest expense	`InterestExpense`	$994.75K	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`	$33.75K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-3.00K	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`	$-1.03M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-3.58M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-4.24M	USD	1 Quarter
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	22.52M	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`	$-0.16	USD	1 Quarter
Loss Per Common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.24	USD	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.58M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.24M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$33.94K	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$41.90K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$10.96K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$11.77K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$33.75K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$51.22K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$368.25K	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`	$891.85K	USD	1 Quarter
Interest added to note	`PaidInKindInterest`	$183.27K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$71.46K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$289.28K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$67.66K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$124.28K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-101.23K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$150.58K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$992.08K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-175.20K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-3.57K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-5.40K	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-3.15M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.51M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.29K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$195.48K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$8.35K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$32.05K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-38.34K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-203.83K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$92.42K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$13.77M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$180.14K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$92.42K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$13.59M	USD	1 Quarter
Net increase/(decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$11.04M	USD	1 Quarter
Net increase/(decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.26M	USD	1 Quarter
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$16.81M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$19.26M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$8.22M	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`	$16.81M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$19.26M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.22M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$20.07M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$803.61K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$303.92K	USD	1 Quarter

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