10-Q Filing

AXOGEN, INC. CIK: 805928 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001558370-16-005287`
Period End Date	20160331
Filing Date	20160504
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	axgn-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 30 Cash Flow Statement 48

Balance Sheet 50 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$192.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$273.00K	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`	$19.26M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.22M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$25.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.95M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	29.98M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.04M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of approximately $273,000 and $192,000, respectively	`AccountsReceivableNetCurrent`	$4.78M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of approximately $273,000 and $192,000, respectively	`AccountsReceivableNetCurrent`	$5.29M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	30.04M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	29.98M	shares	Point-in-time
Inventory	`InventoryNet`	$3.93M	USD	Point-in-time
Inventory	`InventoryNet`	$4.52M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$424.93K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$699.04K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$35.05M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$31.45M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.29M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$970.87K	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$678.08K	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$747.48K	USD	Point-in-time
Total Assets	`Assets`	$33.50M	USD	Point-in-time
Total Assets	`Assets`	$36.70M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$3.70M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$3.75M	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`	$3.71M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.76M	USD	Point-in-time
Note Payable - Revenue Interest Purchase Agreement	`LongTermNotesPayable`	$24.80M	USD	Point-in-time
Note Payable - Revenue Interest Purchase Agreement	`LongTermNotesPayable`	$24.70M	USD	Point-in-time
Long Term Deferred Revenue	`DeferredRevenueNoncurrent`	$88.40K	USD	Point-in-time
Long Term Deferred Revenue	`DeferredRevenueNoncurrent`	$93.80K	USD	Point-in-time
Total liabilities	`Liabilities`	$28.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$28.66M	USD	Point-in-time
Common stock, $.01 par value; 50,000,000 shares authorized; 30,035,576 and 29,984,591 shares issued and outstanding	`CommonStockValue`	$300.36K	USD	Point-in-time
Common stock, $.01 par value; 50,000,000 shares authorized; 30,035,576 and 29,984,591 shares issued and outstanding	`CommonStockValue`	$299.85K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$111.37M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$111.69M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-107.15M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-103.47M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$8.20M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$4.84M	USD	Point-in-time
Total Liabilities and Shareholders' equity	`LiabilitiesAndStockholdersEquity`	$33.50M	USD	Point-in-time
Total Liabilities and Shareholders' equity	`LiabilitiesAndStockholdersEquity`	$36.70M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$4.95M	USD	1 Quarter
Revenues	`Revenues`	$8.11M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$1.41M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$982.88K	USD	1 Quarter
Gross profit	`GrossProfit`	$3.97M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.71M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$6.21M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$3.93M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$671.04K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$978.34K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.14M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.91M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$6.51M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$9.33M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.54M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.62M	USD	1 Quarter
Interest expense	`InterestExpense`	$994.75K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.00M	USD	1 Quarter
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$30.81K	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`	$-19.45K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.05M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.03M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-3.58M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-3.68M	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`	29.99M	shares	1 Quarter
Loss Per Common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.12	USD	1 Quarter
Loss Per Common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.16	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`	$-3.68M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$78.86K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$41.90K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$16.02K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$11.77K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$30.81K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$33.75K	USD	1 Quarter
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$80.65K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$368.25K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$182.96K	USD	1 Quarter
Interest added to note payable	`PaidInKindInterest`	$183.27K	USD	1 Quarter
Interest added to note payable	`PaidInKindInterest`	$71.95K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$588.24K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$289.28K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$124.28K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$581.98K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$150.58K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$274.11K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$55.48K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$992.08K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-5.40K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-5.40K	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-4.61M	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`	$402.93K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$32.05K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$85.42K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-38.34K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-488.34K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$13.77M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$180.14K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$136.70K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$136.70K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$13.59M	USD	1 Quarter
Net increase / (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.96M	USD	1 Quarter
Net increase / (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$11.04M	USD	1 Quarter
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`	$25.91M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$20.95M	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`	$25.91M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$20.95M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$900.41K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$803.61K	USD	1 Quarter

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