10-Q Filing

AXOGEN, INC. CIK: 805928 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0001558370-16-009067`
Period End Date	20160930
Filing Date	20161102
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	axgn-20160930.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`	$249.00K	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$29.94M	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 issued	`CommonStockSharesIssued`	29.98M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of approximately $249,000 and $192,000 respectively	`AccountsReceivableNetCurrent`	$4.78M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.21M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of approximately $249,000 and $192,000 respectively	`AccountsReceivableNetCurrent`	$7.00M	USD	Point-in-time
Inventory	`InventoryNet`	$3.93M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	29.98M	shares	Point-in-time
Inventory	`InventoryNet`	$4.97M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	30.21M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$685.71K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$424.93K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$28.66M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$35.05M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$970.87K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.32M	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$787.52K	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$678.08K	USD	Point-in-time
Total Assets	`Assets`	$36.70M	USD	Point-in-time
Total Assets	`Assets`	$30.77M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$4.56M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$3.70M	USD	Point-in-time
Current deferred revenue	`DeferredRevenueCurrent`	$36.03K	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`	$4.60M	USD	Point-in-time
Note Payable - Revenue Interest Purchase Agreement	`LongTermNotesPayable`	$24.70M	USD	Point-in-time
Note Payable - Revenue Interest Purchase Agreement	`LongTermNotesPayable`	$25.00M	USD	Point-in-time
Long Term Deferred Revenue	`DeferredRevenueNoncurrent`	$77.61K	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`	$29.67M	USD	Point-in-time
Common stock, $0.01 par value per share; 50,000,000 shares authorized; 30,209,036 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; 30,209,036 and 29,984,591 shares issued and outstanding	`CommonStockValue`	$302.09K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$111.37M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$113.06M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-103.47M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-112.26M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$8.20M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$1.10M	USD	Point-in-time
Total Liabilities and Shareholders' equity	`LiabilitiesAndStockholdersEquity`	$36.70M	USD	Point-in-time
Total Liabilities and Shareholders' equity	`LiabilitiesAndStockholdersEquity`	$30.77M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$19.52M	USD	3 Qtrs
Revenues	`Revenues`	$29.70M	USD	3 Qtrs
Revenues	`Revenues`	$11.21M	USD	1 Quarter
Revenues	`Revenues`	$8.15M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$1.41M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$4.64M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$3.43M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$1.70M	USD	1 Quarter
Gross profit	`GrossProfit`	$25.06M	USD	3 Qtrs
Gross profit	`GrossProfit`	$6.74M	USD	1 Quarter
Gross profit	`GrossProfit`	$9.51M	USD	1 Quarter
Gross profit	`GrossProfit`	$16.09M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$14.26M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$7.09M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$20.08M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$5.51M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.34M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$3.03M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.12M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$936.01K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.10M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$7.36M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$2.48M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.21M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$8.66M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$30.47M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$10.69M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$22.70M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.18M	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`	$-5.41M	USD	3 Qtrs
Interest expense	`InterestExpense`	$1.09M	USD	1 Quarter
Interest expense	`InterestExpense`	$3.06M	USD	3 Qtrs
Interest expense	`InterestExpense`	$1.04M	USD	1 Quarter
Interest expense	`InterestExpense`	$3.26M	USD	3 Qtrs
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$95.25K	USD	3 Qtrs
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$31.42K	USD	1 Quarter
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$31.75K	USD	1 Quarter
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$96.38K	USD	3 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-2.80K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$27.02K	USD	3 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-22.87K	USD	3 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$12.64K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-3.37M	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.06M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.12M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-3.13M	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-2.98M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-9.74M	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-2.31M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-8.78M	USD	3 Qtrs
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	24.78M	shares	3 Qtrs
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	30.15M	shares	1 Quarter
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	30.08M	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`	$-0.39	USD	3 Qtrs
Loss Per Common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	1 Quarter
Loss Per Common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.29	USD	3 Qtrs

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.98M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.74M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.31M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.78M	USD	3 Qtrs
Depreciation	`Depreciation`	$142.04K	USD	3 Qtrs
Depreciation	`Depreciation`	$263.13K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$34.01K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$16.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$11.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$48.05K	USD	3 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$96.38K	USD	3 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$95.25K	USD	3 Qtrs
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$80.93K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.05M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.03M	USD	3 Qtrs
Interest added to note payable	`PaidInKindInterest`	$451.59K	USD	3 Qtrs
Interest added to note payable	`PaidInKindInterest`	$199.12K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.30M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.77M	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$1.04M	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$488.13K	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$180.86K	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$260.79K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.66M	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$864.27K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-16.19K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$5.73K	USD	3 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-8.79M	USD	3 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-9.78M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$612.97K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$353.09K	USD	3 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$92.18K	USD	3 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$157.49K	USD	3 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-770.47K	USD	3 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-445.28K	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$30.97M	USD	3 Qtrs
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$180.14K	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$164.63K	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$645.86K	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$645.86K	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$30.96M	USD	3 Qtrs
Net increase / (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-9.91M	USD	3 Qtrs
Net increase / (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$21.72M	USD	3 Qtrs
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$16.00M	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`	$8.22M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$25.91M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.00M	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`	$8.22M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$25.91M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$3.03M	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.