10-Q Filing

AXOGEN, INC. CIK: 805928 Q3 2013

Filing Information

Form Type	10-Q
Accession Number	`0001193125-13-418550`
Period End Date	20130930
Filing Date	20131030
Fiscal Year	2013
Fiscal Period	Q3
XBRL Instance	axgn-20130930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 68 Cash Flow Statement 55

Balance Sheet 48 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	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`	$8.19M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	11.12M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.59M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	17.34M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.45M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	17.34M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.74M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.05M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	11.12M	shares	Point-in-time
Inventory	`InventoryNet`	$3.15M	USD	Point-in-time
Inventory	`InventoryNet`	$3.46M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$187.26K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$177.44K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$18.30M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$27.96M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$114.23K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$108.53K	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$579.82K	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$573.73K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNoncurrentNet`	$1.11M	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNoncurrentNet`	$1.25M	USD	Point-in-time
Total Assets	`Assets`	$20.23M	USD	Point-in-time
Total Assets	`Assets`	$29.76M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.32M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.48M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.48M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.32M	USD	Point-in-time
Note Payable - Revenue Interest Purchase Agreement	`LongTermNotesPayable`	$21.58M	USD	Point-in-time
Note Payable - Revenue Interest Purchase Agreement	`LongTermNotesPayable`	$24.33M	USD	Point-in-time
Total liabilities	`Liabilities`	$25.65M	USD	Point-in-time
Total liabilities	`Liabilities`	$23.06M	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; 17,339,271 and 11,122,573 shares issued and outstanding	`CommonStockValue`	$111.23K	USD	Point-in-time
Common stock, $.01 par value; 50,000,000 shares authorized; 17,339,271 and 11,122,573 shares issued and outstanding	`CommonStockValue`	$173.39K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$54.91M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$72.24M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-68.30M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-57.85M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$4.11M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$-2.83M	USD	Point-in-time
Total liabilities and Shareholders' equity	`LiabilitiesAndStockholdersEquity`	$29.76M	USD	Point-in-time
Total liabilities and Shareholders' equity	`LiabilitiesAndStockholdersEquity`	$20.23M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$5.65M	USD	3 Qtrs
Revenues	`Revenues`	$7.96M	USD	3 Qtrs
Revenues	`Revenues`	$1.98M	USD	1 Quarter
Revenues	`Revenues`	$2.96M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$650.21K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$542.24K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$1.48M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$1.84M	USD	3 Qtrs
Gross profit	`GrossProfit`	$4.16M	USD	3 Qtrs
Gross profit	`GrossProfit`	$1.44M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.12M	USD	3 Qtrs
Gross profit	`GrossProfit`	$2.31M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.70M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$4.91M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$2.76M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$7.18M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$593.64K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.05M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$390.39K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.50M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$4.24M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.77M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.39M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.23M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$9.73M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$3.48M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$12.91M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$4.58M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.79M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.04M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.57M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.28M	USD	1 Quarter
Interest expense	`InterestExpense`	$395.77K	USD	3 Qtrs
Interest expense	`InterestExpense`	$3.51M	USD	3 Qtrs
Interest expense	`InterestExpense`	$145.43K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.21M	USD	1 Quarter
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$154.95K	USD	3 Qtrs
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$146.65K	USD	3 Qtrs
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$60.01K	USD	1 Quarter
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$61.22K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-696.00	USD	3 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$32.00	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$11.62K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$9.29K	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-193.82K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-3.65M	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-541.42K	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.28M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-6.11M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.24M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.55M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-10.45M	USD	3 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	$-736.43K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.24M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.38M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-3.55M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.45M	USD	3 Qtrs
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesBasicAndDilutedOutstanding`	11.10M	shares	1 Quarter
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesBasicAndDilutedOutstanding`	12.21M	shares	3 Qtrs
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesBasicAndDilutedOutstanding`	14.32M	shares	1 Quarter
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesBasicAndDilutedOutstanding`	11.08M	shares	3 Qtrs
Loss Per Common share-basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.20	USD	1 Quarter
Loss Per Common share-basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.49	USD	3 Qtrs
Loss Per Common share-basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.86	USD	3 Qtrs
Loss Per Common share-basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.25	USD	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.24M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.38M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-3.55M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.45M	USD	3 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$145.89K	USD	3 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$60.87K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$15.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$44.18K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$36.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$245.00K	USD	3 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$68.14K	USD	3 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$146.65K	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$36.81K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$171.02K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$478.70K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$142.20K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$534.67K	USD	3 Qtrs
Interest added to note	`InterestExpenseMediumTermNotes`	$2.75M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$690.13K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$127.89K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$962.13K	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`	$75.23K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$278.39K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-162.63K	USD	3 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-8.06M	USD	3 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.29M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$37.43K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$66.56K	USD	3 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$50.26K	USD	3 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$82.29K	USD	3 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-119.72K	USD	3 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-116.83K	USD	3 Qtrs
Proceeds from issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$1.75M	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$16.70M	USD	Point-in-time
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$16.78M	USD	3 Qtrs
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$118.48K	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$73.02K	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$30.74K	USD	3 Qtrs
Payment of fractional shares from Merger	`PaymentsOfMergerRelatedCostsFinancingActivities`	$58.00	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.66M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$16.86M	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`	$-3.75M	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`	$8.19M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$22.59M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$4.45M	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`	$8.19M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$22.59M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.45M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$447.14K	USD	3 Qtrs
Cash paid for interest	`InterestPaid`	$749.86K	USD	3 Qtrs

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