10-Q Filing

AXOGEN, INC. CIK: 805928 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001558370-17-007934`
Period End Date	20170930
Filing Date	20171101
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	axgn-20170930.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`	$272.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$335.00K	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$25.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$30.01M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.04M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	33.01M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of approximately $335,000 and $272,000, respectively	`AccountsReceivableNetCurrent`	$8.05M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	33.39M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of approximately $335,000 and $272,000, respectively	`AccountsReceivableNetCurrent`	$10.20M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	33.39M	shares	Point-in-time
Inventory	`InventoryNet`	$6.70M	USD	Point-in-time
Inventory	`InventoryNet`	$5.46M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	33.01M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$511.80K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$571.91K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$39.51M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$44.04M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.49M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.76M	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$951.47K	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$828.98K	USD	Point-in-time
Total Assets	`Assets`	$46.36M	USD	Point-in-time
Total Assets	`Assets`	$42.23M	USD	Point-in-time
Borrowings under revolving loan agreement	`LinesOfCreditCurrent`	$4.03M	USD	Point-in-time
Borrowings under revolving loan agreement	`LinesOfCreditCurrent`	$4.00M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$7.07M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$7.00M	USD	Point-in-time
Current maturities of long term obligations	`LongTermDebtCurrent`	$21.60K	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`	$43.58K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.14M	USD	Point-in-time
Long Term Obligations, net of current maturities and deferred financing fees	`LongTermDebtNoncurrent`	$20.36M	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`	$105.26K	USD	Point-in-time
Deferred revenue, noncurrent	`DeferredRevenueNoncurrent`	$76.03K	USD	Point-in-time
Deferred revenue, noncurrent	`DeferredRevenueNoncurrent`	$92.22K	USD	Point-in-time
Total liabilities	`Liabilities`	$31.68M	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; 33,393,804 and 33,008,865 shares issued and outstanding	`CommonStockValue`	$333.94K	USD	Point-in-time
Common stock, $0.01 par value per share; 50,000,000 shares authorized; 33,393,804 and 33,008,865 shares issued and outstanding	`CommonStockValue`	$330.09K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$132.47M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$136.05M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-125.83M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-117.88M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$10.55M	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`	$42.23M	USD	Point-in-time

Income Statement 62 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$16.05M	USD	1 Quarter
Revenues	`Revenues`	$29.70M	USD	3 Qtrs
Revenues	`Revenues`	$43.46M	USD	3 Qtrs
Revenues	`Revenues`	$11.21M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$2.50M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$6.70M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$1.70M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$4.64M	USD	3 Qtrs
Gross profit	`GrossProfit`	$36.76M	USD	3 Qtrs
Gross profit	`GrossProfit`	$13.54M	USD	1 Quarter
Gross profit	`GrossProfit`	$25.06M	USD	3 Qtrs
Gross profit	`GrossProfit`	$9.51M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$20.08M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$9.47M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$7.09M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$27.52M	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`	$4.73M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.80M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.78M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.48M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$10.66M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$7.36M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$15.04M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$42.90M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$10.69M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$30.47M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-6.14M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.50M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.41M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.18M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.09M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.64M	USD	3 Qtrs
Interest expense	`InterestExpense`	$577.94K	USD	1 Quarter
Interest expense	`InterestExpense`	$3.99M	USD	Annual
Interest expense	`InterestExpense`	$3.26M	USD	3 Qtrs
Interest expense	`InterestExpense`	$5.39M	USD	Annual
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$136.71K	USD	3 Qtrs
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$31.75K	USD	1 Quarter
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$95.25K	USD	3 Qtrs
Interest expense-deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$46.11K	USD	1 Quarter
Other (expense)	`OtherNonoperatingIncomeExpense`	$-25.39K	USD	3 Qtrs
Other (expense)	`OtherNonoperatingIncomeExpense`	$-2.80K	USD	1 Quarter
Other (expense)	`OtherNonoperatingIncomeExpense`	$-22.87K	USD	3 Qtrs
Other (expense)	`OtherNonoperatingIncomeExpense`	$-1.60K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.12M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-3.37M	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-625.65K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.80M	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-7.95M	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-8.78M	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-2.12M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-2.31M	USD	1 Quarter
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	30.15M	shares	1 Quarter
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	33.29M	shares	1 Quarter
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	33.15M	shares	3 Qtrs
Weighted Average Common Shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	30.08M	shares	3 Qtrs
Loss Per Common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.24	USD	3 Qtrs
Loss Per Common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.29	USD	3 Qtrs
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`	$-0.08	USD	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-7.95M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-8.78M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.12M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.31M	USD	1 Quarter
Depreciation	`Depreciation`	$263.13K	USD	3 Qtrs
Depreciation	`Depreciation`	$346.84K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$48.05K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$19.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$60.46K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$16.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$95.25K	USD	3 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$136.71K	USD	3 Qtrs
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$83.73K	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`	$2.49M	USD	3 Qtrs
Interest added to note payable	`PaidInKindInterest`	$199.12K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.23M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.30M	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$1.24M	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$1.04M	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$60.11K	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$260.79K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$70.36K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$864.27K	USD	3 Qtrs
Deferred liabiliies	`IncreaseDecreaseInDeferredLiabilities`	$5.73K	USD	3 Qtrs
Deferred liabiliies	`IncreaseDecreaseInDeferredLiabilities`	$99.37K	USD	3 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.78M	USD	3 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-8.19M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$616.43K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$612.97K	USD	3 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$157.49K	USD	3 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$182.95K	USD	3 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-770.47K	USD	3 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-799.38K	USD	3 Qtrs
Borrowings on revolving loan	`ProceedsFromLinesOfCredit`	$41.55M	USD	3 Qtrs
Payments on revolving loan	`RepaymentsOfLinesOfCredit`	$41.58M	USD	3 Qtrs
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$15.59K	USD	3 Qtrs
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$29.47K	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$645.86K	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.09M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$645.86K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.02M	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.97M	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-9.91M	USD	3 Qtrs
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$25.91M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$16.00M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$30.01M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$22.04M	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`	$16.00M	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`	$22.04M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$1.63M	USD	3 Qtrs
Cash paid for interest	`InterestPaidNet`	$3.03M	USD	3 Qtrs

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