10-Q Filing

AXOGEN, INC. CIK: 805928 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001558370-17-003525`
Period End Date	20170331
Filing Date	20170504
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	axgn-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 55 Income Statement 32 Cash Flow Statement 51

Balance Sheet 55 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$307.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$272.00K	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`	$30.01M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.95M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$25.91M	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`	33.06M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of approximately $307,000 and $272,000 respectively	`AccountsReceivableNetCurrent`	$8.38M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of approximately $307,000 and $272,000 respectively	`AccountsReceivableNetCurrent`	$8.05M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	33.01M	shares	Point-in-time
Inventory	`InventoryNet`	$5.46M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	33.06M	shares	Point-in-time
Inventory	`InventoryNet`	$5.85M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	33.01M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$749.44K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$511.80K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$44.04M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$40.90M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.48M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.49M	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$828.98K	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$890.69K	USD	Point-in-time
Total Assets	`Assets`	$46.36M	USD	Point-in-time
Total Assets	`Assets`	$43.27M	USD	Point-in-time
Borrowings under revolving loan agreement	`LinesOfCreditCurrent`	$4.03M	USD	Point-in-time
Borrowings under revolving loan agreement	`LinesOfCreditCurrent`	$3.98M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$7.00M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$6.66M	USD	Point-in-time
Current maturities of long term obligations	`LongTermDebtCurrent`	$20.90K	USD	Point-in-time
Current maturities of long term obligations	`LongTermDebtCurrent`	$22.91K	USD	Point-in-time
Deferred revenue, current	`DeferredRevenueCurrent`	$33.28K	USD	Point-in-time
Deferred revenue, current	`DeferredRevenueCurrent`	$35.25K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.69M	USD	Point-in-time
Long Term Obligations, net of current maturities and deferred financing fees	`LongTermDebtNoncurrent`	$20.27M	USD	Point-in-time
Long Term Obligations, net of current maturities and deferred financing fees	`LongTermDebtNoncurrent`	$20.28M	USD	Point-in-time
Deferred lease	`DeferredRentCreditNoncurrent`	$89.89K	USD	Point-in-time
Deferred revenue, noncurrent	`DeferredRevenueNoncurrent`	$92.22K	USD	Point-in-time
Deferred revenue, noncurrent	`DeferredRevenueNoncurrent`	$86.82K	USD	Point-in-time
Total liabilities	`Liabilities`	$31.15M	USD	Point-in-time
Total liabilities	`Liabilities`	$31.44M	USD	Point-in-time
Common stock, $0.01 par value per share; 50,000,000 shares authorized; 33,063,960 and 33,008,865 shares issued and outstanding	`CommonStockValue`	$330.09K	USD	Point-in-time
Common stock, $0.01 par value per share; 50,000,000 shares authorized; 33,063,960 and 33,008,865 shares issued and outstanding	`CommonStockValue`	$330.64K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$133.44M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$132.47M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-117.88M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-121.65M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$12.12M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$14.92M	USD	Point-in-time
Total Liabilities and Shareholders' equity	`LiabilitiesAndStockholdersEquity`	$46.36M	USD	Point-in-time
Total Liabilities and Shareholders' equity	`LiabilitiesAndStockholdersEquity`	$43.27M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$8.11M	USD	1 Quarter
Revenues	`Revenues`	$12.24M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$1.92M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$1.41M	USD	1 Quarter
Gross profit	`GrossProfit`	$10.33M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.71M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$8.61M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$6.21M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.41M	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`	$3.50M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$13.53M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$9.33M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.62M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.20M	USD	1 Quarter
Interest expense	`InterestExpense`	$507.55K	USD	1 Quarter
Interest expense	`InterestExpense`	$5.39M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$3.99M	USD	Annual
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$44.49K	USD	1 Quarter
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$30.81K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-9.75K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-19.45K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-561.79K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.05M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-3.76M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-3.68M	USD	1 Quarter
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	33.03M	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`	$-0.11	USD	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.76M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.68M	USD	1 Quarter
Depreciation	`Depreciation`	$78.86K	USD	1 Quarter
Depreciation	`Depreciation`	$108.36K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$16.02K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$23.19K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$44.49K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$30.81K	USD	1 Quarter
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$80.65K	USD	1 Quarter
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$34.75K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$848.59K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$182.96K	USD	1 Quarter
Interest added to note payable	`PaidInKindInterest`	$71.95K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$366.47K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$588.24K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$581.98K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$391.89K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$274.11K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$237.63K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-341.90K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$55.48K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$86.46K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-5.40K	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-3.95M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-4.61M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$402.93K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$98.39K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$85.42K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$84.90K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-488.34K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-183.29K	USD	1 Quarter
Borrowings on revolving loan	`ProceedsFromLinesOfCredit`	$11.25M	USD	1 Quarter
Payments on revolving loan	`RepaymentsOfLinesOfCredit`	$11.30M	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$5.16K	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$26.43K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$117.02K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$136.70K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$36.73K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$136.70K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.10M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.96M	USD	1 Quarter
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$30.01M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$20.95M	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`	$25.91M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$30.01M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$20.95M	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`	$25.91M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$900.41K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$505.02K	USD	1 Quarter

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