10-Q Filing

AXOGEN, INC. CIK: 805928 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001558370-16-007237`
Period End Date	20160630
Filing Date	20160803
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	axgn-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 60 Cash Flow Statement 53

Balance Sheet 50 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$241.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$192.00K	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`	$18.27M	USD	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
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`	$15.62M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	29.98M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.13M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of approximately $241,000 and $192,000 respectively	`AccountsReceivableNetCurrent`	$4.78M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of approximately $241,000 and $192,000 respectively	`AccountsReceivableNetCurrent`	$6.07M	USD	Point-in-time
Inventory	`InventoryNet`	$4.79M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	30.13M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	29.98M	shares	Point-in-time
Inventory	`InventoryNet`	$3.93M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$615.51K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$424.93K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$29.75M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$35.05M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.26M	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`	$743.39K	USD	Point-in-time
Total Assets	`Assets`	$31.75M	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`	$3.89M	USD	Point-in-time
Current deferred revenue	`DeferredRevenueCurrent`	$28.59K	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`	$3.92M	USD	Point-in-time
Note Payable - Revenue Interest Purchase Agreement	`LongTermNotesPayable`	$24.95M	USD	Point-in-time
Note Payable - Revenue Interest Purchase Agreement	`LongTermNotesPayable`	$24.70M	USD	Point-in-time
Long Term Deferred Revenue	`DeferredRevenueNoncurrent`	$83.01K	USD	Point-in-time
Long Term Deferred Revenue	`DeferredRevenueNoncurrent`	$93.80K	USD	Point-in-time
Total liabilities	`Liabilities`	$28.96M	USD	Point-in-time
Total liabilities	`Liabilities`	$28.50M	USD	Point-in-time
Common stock, $0.01 par value per share; 50,000,000 shares authorized; 30,128,099 and 29,984,591 shares issued and outstanding	`CommonStockValue`	$299.85K	USD	Point-in-time
Common stock, $0.01 par value per share; 50,000,000 shares authorized; 30,128,099 and 29,984,591 shares issued and outstanding	`CommonStockValue`	$301.28K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$111.37M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$112.44M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-109.95M	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`	$2.79M	USD	Point-in-time
Total Liabilities and Shareholders' equity	`LiabilitiesAndStockholdersEquity`	$31.75M	USD	Point-in-time
Total Liabilities and Shareholders' equity	`LiabilitiesAndStockholdersEquity`	$36.70M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$18.49M	USD	2 Qtrs
Revenues	`Revenues`	$10.38M	USD	1 Quarter
Revenues	`Revenues`	$6.42M	USD	1 Quarter
Revenues	`Revenues`	$11.37M	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$1.04M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$1.53M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$2.94M	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$2.02M	USD	2 Qtrs
Gross profit	`GrossProfit`	$5.38M	USD	1 Quarter
Gross profit	`GrossProfit`	$9.35M	USD	2 Qtrs
Gross profit	`GrossProfit`	$15.55M	USD	2 Qtrs
Gross profit	`GrossProfit`	$8.85M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$6.78M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$4.81M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$12.99M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$8.74M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$736.40K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.92M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.41M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$936.82K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.98M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.74M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.88M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.89M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$10.45M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$19.78M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$7.53M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$14.04M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-4.70M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-4.23M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.15M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.61M	USD	1 Quarter
Interest expense	`InterestExpense`	$2.17M	USD	2 Qtrs
Interest expense	`InterestExpense`	$1.16M	USD	1 Quarter
Interest expense	`InterestExpense`	$2.02M	USD	2 Qtrs
Interest expense	`InterestExpense`	$1.02M	USD	1 Quarter
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$32.70K	USD	1 Quarter
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$64.96K	USD	2 Qtrs
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$31.21K	USD	1 Quarter
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$63.51K	USD	2 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$14.38K	USD	2 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-617.00	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$17.38K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-20.07K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.04M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-2.25M	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.20M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-2.07M	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-2.80M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-6.77M	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-3.19M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-6.48M	USD	2 Qtrs
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	24.93M	shares	1 Quarter
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	23.73M	shares	2 Qtrs
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	30.04M	shares	2 Qtrs
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	30.08M	shares	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`	$-0.09	USD	1 Quarter
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`	$-0.22	USD	2 Qtrs

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.80M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.77M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-3.19M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.48M	USD	2 Qtrs
Depreciation	`Depreciation`	$87.61K	USD	2 Qtrs
Depreciation	`Depreciation`	$167.59K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$11.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$32.03K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$16.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$22.71K	USD	2 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$63.51K	USD	2 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$64.96K	USD	2 Qtrs
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$48.60K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$696.62K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$752.79K	USD	2 Qtrs
Interest added to note payable	`PaidInKindInterest`	$340.87K	USD	2 Qtrs
Interest added to note payable	`PaidInKindInterest`	$187.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$965.72K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.34M	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$326.34K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$852.36K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$131.74K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$190.59K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$198.71K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$976.93K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-10.79K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$3.68K	USD	2 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-7.41M	USD	2 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-6.01M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$132.49K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$456.91K	USD	2 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$97.34K	USD	2 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$54.08K	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-186.57K	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-554.25K	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$13.77M	USD	2 Qtrs
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$180.14K	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$14.07K	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$323.51K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$323.51K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$13.60M	USD	2 Qtrs
Net increase / (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.64M	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`	$18.27M	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`	$15.62M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.27M	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`	$15.62M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$1.96M	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	$1.65M	USD	2 Qtrs

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