10-Q Filing

AXOGEN, INC. CIK: 805928 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001558370-15-001476`
Period End Date	20150630
Filing Date	20150806
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	axgn-20150630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 60 Cash Flow Statement 55

Balance Sheet 52 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$148.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$94.00K	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`	$20.07M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.62M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.22M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.17M	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`	5.44M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	24.93M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of approximately $101,000 and $94,000, respectively	`AccountsReceivableNetCurrent`	$3.84M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	19.49M	shares	Point-in-time
Inventory	`InventoryNet`	$3.54M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	19.49M	shares	Point-in-time
Inventory	`InventoryNet`	$3.21M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	24.93M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$241.11K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$109.37K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$23.24M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$14.41M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$619.03K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$663.91K	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$608.54K	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$577.17K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNoncurrentNet`	$908.68K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNoncurrentNet`	$793.50K	USD	Point-in-time
Total Assets	`Assets`	$25.42M	USD	Point-in-time
Total Assets	`Assets`	$16.40M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.43M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$3.41M	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`	$3.42M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.45M	USD	Point-in-time
Note Payable - Revenue Interest Purchase Agreement	`LongTermNotesPayable`	$25.09M	USD	Point-in-time
Note Payable - Revenue Interest Purchase Agreement	`LongTermNotesPayable`	$25.43M	USD	Point-in-time
Long Term Deferred Revenue	`DeferredRevenueNoncurrent`	$115.38K	USD	Point-in-time
Long Term Deferred Revenue	`DeferredRevenueNoncurrent`	$104.59K	USD	Point-in-time
Total liabilities	`Liabilities`	$27.65M	USD	Point-in-time
Total liabilities	`Liabilities`	$28.95M	USD	Point-in-time
Common stock, $.01 par value; 50,000,000 shares authorized; 24,932,392 and 19,488,814 shares issued and outstanding	`CommonStockValue`	$249.32K	USD	Point-in-time
Common stock, $.01 par value; 50,000,000 shares authorized; 24,932,392 and 19,488,814 shares issued and outstanding	`CommonStockValue`	$194.89K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$78.68M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$93.10M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-90.12M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-96.88M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$-3.53M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$-11.25M	USD	Point-in-time
Total Liabilities and Shareholders' equity	`LiabilitiesAndStockholdersEquity`	$25.42M	USD	Point-in-time
Total Liabilities and Shareholders' equity	`LiabilitiesAndStockholdersEquity`	$16.40M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$11.37M	USD	2 Qtrs
Revenues	`Revenues`	$7.35M	USD	2 Qtrs
Revenues	`Revenues`	$6.42M	USD	1 Quarter
Revenues	`Revenues`	$4.21M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$1.04M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$2.02M	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`	$3.33M	USD	1 Quarter
Gross profit	`GrossProfit`	$9.35M	USD	2 Qtrs
Gross profit	`GrossProfit`	$5.76M	USD	2 Qtrs
Gross profit	`GrossProfit`	$5.38M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$4.81M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$8.74M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$6.08M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$3.35M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.41M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.37M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$555.76K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$736.40K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.71M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.98M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.89M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.61M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$5.62M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$11.05M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$14.04M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$7.53M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.29M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.30M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.70M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.15M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.02M	USD	1 Quarter
Interest expense	`InterestExpense`	$2.58M	USD	2 Qtrs
Interest expense	`InterestExpense`	$2.02M	USD	2 Qtrs
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`	$64.96K	USD	2 Qtrs
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$103.43K	USD	2 Qtrs
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$31.21K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$588.00	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-5.30K	USD	2 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$14.38K	USD	2 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$17.38K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.44M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.04M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-2.69M	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-2.07M	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-3.19M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-3.74M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-7.98M	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-6.77M	USD	2 Qtrs
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.46M	shares	1 Quarter
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	24.93M	shares	1 Quarter
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.42M	shares	2 Qtrs
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	23.73M	shares	2 Qtrs
Loss Per Common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.13	USD	1 Quarter
Loss Per Common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.29	USD	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`	$-0.21	USD	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.19M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.74M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.98M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-6.77M	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$67.89K	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$87.61K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$11.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$11.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$22.71K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$22.10K	USD	2 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$64.96K	USD	2 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$103.43K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$328.38K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$474.14K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$216.60K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$696.62K	USD	2 Qtrs
Stock grants	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$60.12K	USD	2 Qtrs
Interest added to note	`PaidInKindInterest`	$1.88M	USD	2 Qtrs
Interest added to note	`PaidInKindInterest`	$340.87K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$633.25K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$965.72K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$12.00K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$326.34K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$131.74K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-151.74K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$976.93K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$155.11K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-10.79K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-7.14K	USD	2 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-6.01M	USD	2 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-5.72M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$283.48K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$132.49K	USD	2 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$54.08K	USD	2 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$30.30K	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-186.57K	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-313.78K	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$14.07K	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$134.36K	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$13.77M	USD	2 Qtrs
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$180.14K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$134.36K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$13.60M	USD	2 Qtrs
Net increase/(decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.90M	USD	2 Qtrs
Net increase/(decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.41M	USD	2 Qtrs
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$20.07M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$15.62M	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`	$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`	$15.62M	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`	$14.17M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$1.65M	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	$664.55K	USD	2 Qtrs

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