10-Q Filing

AXOGEN, INC. CIK: 805928 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001558370-17-005717`
Period End Date	20170630
Filing Date	20170802
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	axgn-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 55 Income Statement 62 Cash Flow Statement 55

Balance Sheet 55 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$351.00K	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`	$23.87M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.27M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$25.91M	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of approximately $351,000 and $272,000, respectively	`AccountsReceivableNetCurrent`	$8.05M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	33.01M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	33.18M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of approximately $351,000 and $272,000, respectively	`AccountsReceivableNetCurrent`	$9.42M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	33.01M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	33.18M	shares	Point-in-time
Inventory	`InventoryNet`	$5.46M	USD	Point-in-time
Inventory	`InventoryNet`	$6.30M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$511.80K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$585.09K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$44.04M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$40.18M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.49M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.64M	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$828.98K	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$940.59K	USD	Point-in-time
Total Assets	`Assets`	$46.36M	USD	Point-in-time
Total Assets	`Assets`	$42.77M	USD	Point-in-time
Borrowings under revolving loan agreement	`LinesOfCreditCurrent`	$3.83M	USD	Point-in-time
Borrowings under revolving loan agreement	`LinesOfCreditCurrent`	$4.03M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$7.06M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$7.00M	USD	Point-in-time
Current maturities of long term obligations	`LongTermDebtCurrent`	$24.95K	USD	Point-in-time
Current maturities of long term obligations	`LongTermDebtCurrent`	$20.90K	USD	Point-in-time
Deferred revenue, current	`DeferredRevenueCurrent`	$33.28K	USD	Point-in-time
Deferred revenue, current	`DeferredRevenueCurrent`	$39.40K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.95M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.08M	USD	Point-in-time
Long Term Obligations, net of current maturities and deferred financing fees	`LongTermDebtNoncurrent`	$20.31M	USD	Point-in-time
Long Term Obligations, net of current maturities and deferred financing fees	`LongTermDebtNoncurrent`	$20.27M	USD	Point-in-time
Deferred lease	`DeferredRentCreditNoncurrent`	$109.33K	USD	Point-in-time
Deferred revenue, noncurrent	`DeferredRevenueNoncurrent`	$81.42K	USD	Point-in-time
Deferred revenue, noncurrent	`DeferredRevenueNoncurrent`	$92.22K	USD	Point-in-time
Total liabilities	`Liabilities`	$31.44M	USD	Point-in-time
Total liabilities	`Liabilities`	$31.46M	USD	Point-in-time
Common stock, $0.01 par value per share; 50,000,000 shares authorized; 33,184,710 and 33,008,865 shares issued and outstanding	`CommonStockValue`	$331.85K	USD	Point-in-time
Common stock, $0.01 par value per share; 50,000,000 shares authorized; 33,184,710 and 33,008,865 shares issued and outstanding	`CommonStockValue`	$330.09K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$134.68M	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`	$-123.71M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$14.92M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$11.31M	USD	Point-in-time
Total Liabilities and Shareholders' equity	`LiabilitiesAndStockholdersEquity`	$46.36M	USD	Point-in-time
Total Liabilities and Shareholders' equity	`LiabilitiesAndStockholdersEquity`	$42.77M	USD	Point-in-time

Income Statement 62 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$18.49M	USD	2 Qtrs
Revenues	`Revenues`	$10.38M	USD	1 Quarter
Revenues	`Revenues`	$15.17M	USD	1 Quarter
Revenues	`Revenues`	$27.41M	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$2.28M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$1.53M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$4.19M	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$2.94M	USD	2 Qtrs
Gross profit	`GrossProfit`	$8.85M	USD	1 Quarter
Gross profit	`GrossProfit`	$15.55M	USD	2 Qtrs
Gross profit	`GrossProfit`	$12.89M	USD	1 Quarter
Gross profit	`GrossProfit`	$23.22M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$9.44M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$18.05M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$12.99M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$6.78M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.93M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$936.82K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.92M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.52M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.88M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.38M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.88M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$2.74M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$19.78M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$27.86M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$10.45M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$14.34M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.61M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.65M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-4.23M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.45M	USD	1 Quarter
Interest expense	`InterestExpense`	$554.38K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.06M	USD	2 Qtrs
Interest expense	`InterestExpense`	$1.16M	USD	1 Quarter
Interest expense	`InterestExpense`	$2.17M	USD	2 Qtrs
Interest expense	`InterestExpense`	$3.99M	USD	Annual
Interest expense	`InterestExpense`	$5.39M	USD	1 Quarter
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$46.11K	USD	1 Quarter
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$90.60K	USD	2 Qtrs
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$63.51K	USD	2 Qtrs
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$32.70K	USD	1 Quarter
Other (expense)	`OtherNonoperatingIncomeExpense`	$-617.00	USD	1 Quarter
Other (expense)	`OtherNonoperatingIncomeExpense`	$-20.07K	USD	2 Qtrs
Other (expense)	`OtherNonoperatingIncomeExpense`	$-23.79K	USD	2 Qtrs
Other (expense)	`OtherNonoperatingIncomeExpense`	$-14.03K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.18M	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.20M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-614.53K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-2.25M	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-2.06M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-6.48M	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-5.82M	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-2.80M	USD	1 Quarter
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	33.08M	shares	2 Qtrs
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	30.08M	shares	1 Quarter
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	33.12M	shares	1 Quarter
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	30.04M	shares	2 Qtrs
Loss Per Common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.18	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`	$-0.06	USD	1 Quarter
Loss Per Common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.22	USD	2 Qtrs

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.06M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.48M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-5.82M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.80M	USD	1 Quarter
Depreciation	`Depreciation`	$167.59K	USD	2 Qtrs
Depreciation	`Depreciation`	$217.88K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$16.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$41.71K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$32.03K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$19.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$63.51K	USD	2 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$90.60K	USD	2 Qtrs
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$99.83K	USD	2 Qtrs
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$48.60K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$752.79K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.57M	USD	2 Qtrs
Interest added to note payable	`PaidInKindInterest`	$187.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.47M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.34M	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$852.36K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$845.26K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$190.59K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$73.29K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$198.71K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$55.67K	USD	2 Qtrs
Deferred liabiliies	`IncreaseDecreaseInDeferredLiabilities`	$104.66K	USD	2 Qtrs
Deferred liabiliies	`IncreaseDecreaseInDeferredLiabilities`	$3.68K	USD	2 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-7.41M	USD	2 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-6.03M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$456.91K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$366.89K	USD	2 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$153.32K	USD	2 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$97.34K	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-554.25K	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-520.21K	USD	2 Qtrs
Borrowings on revolving loan	`ProceedsFromLinesOfCredit`	$26.12M	USD	2 Qtrs
Payments on revolving loan	`RepaymentsOfLinesOfCredit`	$26.31M	USD	2 Qtrs
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$8.57K	USD	2 Qtrs
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$29.47K	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$636.84K	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$323.51K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$323.51K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$403.54K	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.64M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.14M	USD	2 Qtrs
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$23.87M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$18.27M	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`	$30.01M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$23.87M	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`	$25.91M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$30.01M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$1.96M	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	$1.06M	USD	2 Qtrs

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