10-Q Filing

AXOGEN, INC. CIK: 805928 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0001558370-15-002338`
Period End Date	20150930
Filing Date	20151105
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	axgn-20150930.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`	$94.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$166.00K	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`	$8.22M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$29.94M	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 issued	`CommonStockSharesIssued`	29.84M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of approximately $166,000 and $94,000, respectively	`AccountsReceivableNetCurrent`	$4.64M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of approximately $166,000 and $94,000, respectively	`AccountsReceivableNetCurrent`	$2.87M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	19.49M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	29.84M	shares	Point-in-time
Inventory	`InventoryNet`	$3.21M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	19.49M	shares	Point-in-time
Inventory	`InventoryNet`	$3.70M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$109.37K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$290.23K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$38.57M	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`	$830.08K	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$635.35K	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`	$877.26K	USD	Point-in-time
Total Assets	`Assets`	$40.91M	USD	Point-in-time
Total Assets	`Assets`	$16.40M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$4.09M	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`	$4.10M	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`	$25.54M	USD	Point-in-time
Long Term Deferred Revenue	`DeferredRevenueNoncurrent`	$99.19K	USD	Point-in-time
Long Term Deferred Revenue	`DeferredRevenueNoncurrent`	$115.38K	USD	Point-in-time
Total liabilities	`Liabilities`	$27.65M	USD	Point-in-time
Total liabilities	`Liabilities`	$29.74M	USD	Point-in-time
Common stock, $.01 par value; 50,000,000 shares authorized; 29,844,503 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; 29,844,503 and 19,488,814 shares issued and outstanding	`CommonStockValue`	$298.44K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$78.68M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$110.74M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-90.12M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-99.86M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$-11.25M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$11.18M	USD	Point-in-time
Total Liabilities and Shareholders' equity	`LiabilitiesAndStockholdersEquity`	$16.40M	USD	Point-in-time
Total Liabilities and Shareholders' equity	`LiabilitiesAndStockholdersEquity`	$40.91M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$4.67M	USD	1 Quarter
Revenues	`Revenues`	$8.15M	USD	1 Quarter
Revenues	`Revenues`	$12.02M	USD	3 Qtrs
Revenues	`Revenues`	$19.52M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$1.41M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$896.18K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$2.49M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$3.43M	USD	3 Qtrs
Gross profit	`GrossProfit`	$6.74M	USD	1 Quarter
Gross profit	`GrossProfit`	$16.09M	USD	3 Qtrs
Gross profit	`GrossProfit`	$3.78M	USD	1 Quarter
Gross profit	`GrossProfit`	$9.54M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$3.25M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$14.26M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$5.51M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$9.33M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$2.05M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$681.23K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.34M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$936.01K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.21M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$5.25M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.65M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.10M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$16.63M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$5.58M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$22.70M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$8.66M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.61M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.92M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.80M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-7.09M	USD	3 Qtrs
Interest expense	`InterestExpense`	$3.96M	USD	3 Qtrs
Interest expense	`InterestExpense`	$1.38M	USD	1 Quarter
Interest expense	`InterestExpense`	$3.06M	USD	3 Qtrs
Interest expense	`InterestExpense`	$1.04M	USD	1 Quarter
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$96.38K	USD	3 Qtrs
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$31.42K	USD	1 Quarter
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$55.22K	USD	1 Quarter
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$158.65K	USD	3 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$27.02K	USD	3 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-4.89K	USD	3 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$12.64K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$417.00	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-3.13M	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-4.13M	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.44M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.06M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-9.74M	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-3.24M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-2.98M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-11.22M	USD	3 Qtrs
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.44M	shares	3 Qtrs
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.47M	shares	1 Quarter
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	24.78M	shares	3 Qtrs
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	26.84M	shares	1 Quarter
Loss Per Common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.11	USD	1 Quarter
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`	$-0.19	USD	1 Quarter
Loss Per Common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.39	USD	3 Qtrs

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-9.74M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-3.24M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.98M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.22M	USD	3 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$111.39K	USD	3 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$142.04K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$34.01K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$11.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$33.47K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$11.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$158.65K	USD	3 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$96.38K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$1.03M	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$701.70K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$334.59K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$227.55K	USD	1 Quarter
Stock grants	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$60.12K	USD	3 Qtrs
Interest added to note	`PaidInKindInterest`	$2.81M	USD	3 Qtrs
Interest added to note	`PaidInKindInterest`	$451.59K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.77M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$849.34K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$488.13K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-52.32K	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-195.80K	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$180.86K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.66M	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-63.85K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-16.19K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-10.71K	USD	3 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-8.79M	USD	3 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-8.02M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$353.09K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$342.88K	USD	3 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$39.45K	USD	3 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$92.18K	USD	3 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-382.33K	USD	3 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-445.28K	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$134.67K	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$164.63K	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$30.97M	USD	3 Qtrs
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$180.14K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$134.67K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$30.96M	USD	3 Qtrs
Net increase/(decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$21.72M	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`	$8.22M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$29.94M	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, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.22M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$29.94M	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 paid for interest	`InterestPaid`	$1.15M	USD	3 Qtrs
Cash paid for interest	`InterestPaid`	$1.95M	USD	3 Qtrs

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