10-Q Filing

AXOGEN, INC. CIK: 805928 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001558370-18-003532`
Period End Date	20180331
Filing Date	20180430
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	axgn-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 30 Cash Flow Statement 53

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$461.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$513.00K	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`	$30.56M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.51M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$30.01M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	34.35M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $513,000 and $461,000, respectively	`AccountsReceivableNetCurrent`	$11.77M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	34.67M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $513,000 and $461,000, respectively	`AccountsReceivableNetCurrent`	$11.06M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	34.67M	shares	Point-in-time
Inventory	`InventoryNet`	$7.32M	USD	Point-in-time
Inventory	`InventoryNet`	$8.05M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	34.35M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$853.38K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$1.36M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$55.74M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$51.73M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.20M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.38M	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$936.99K	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$1.06M	USD	Point-in-time
Total assets	`Assets`	$58.87M	USD	Point-in-time
Total assets	`Assets`	$55.17M	USD	Point-in-time
Borrowings under revolving loan agreement	`LinesOfCreditCurrent`	$3.98M	USD	Point-in-time
Borrowings under revolving loan agreement	`LinesOfCreditCurrent`	$4.00M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$8.71M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$8.95M	USD	Point-in-time
Current maturities of long term obligations	`LongTermDebtCurrent`	$2.84M	USD	Point-in-time
Current maturities of long term obligations	`LongTermDebtCurrent`	$735.02K	USD	Point-in-time
Contract liabilities, current	`ContractWithCustomerLiabilityCurrent`	$32.14K	USD	Point-in-time
Contract liabilities, current	`ContractWithCustomerLiabilityCurrent`	$31.67K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.72M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$15.57M	USD	Point-in-time
Long Term Obligations, net of current maturities and deferred financing fees	`LongTermDebtNoncurrent`	$19.81M	USD	Point-in-time
Long Term Obligations, net of current maturities and deferred financing fees	`LongTermDebtNoncurrent`	$17.76M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$95.51K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$89.01K	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityNoncurrent`	$68.63K	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityNoncurrent`	$61.98K	USD	Point-in-time
Total liabilities	`Liabilities`	$33.48M	USD	Point-in-time
Total liabilities	`Liabilities`	$33.69M	USD	Point-in-time
Common stock, $0.01 par value per share; 50,000,000 shares authorized; 34,669,276 and 34,350,329 shares issued and outstanding	`CommonStockValue`	$343.50K	USD	Point-in-time
Common stock, $0.01 par value per share; 50,000,000 shares authorized; 34,669,276 and 34,350,329 shares issued and outstanding	`CommonStockValue`	$346.69K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$153.17M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$155.31M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-128.33M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-133.97M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$21.69M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$25.18M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$58.87M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$55.17M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$12.24M	USD	1 Quarter
Revenues	`Revenues`	$17.26M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$1.92M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$2.71M	USD	1 Quarter
Gross profit	`GrossProfit`	$10.33M	USD	1 Quarter
Gross profit	`GrossProfit`	$14.55M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$8.61M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$12.47M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.06M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.41M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.50M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$5.01M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$19.54M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$13.53M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.99M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.20M	USD	1 Quarter
Interest expense	`InterestExpense`	$507.55K	USD	1 Quarter
Interest expense	`InterestExpense`	$585.62K	USD	1 Quarter
Interest expense - deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$44.49K	USD	1 Quarter
Interest expense - deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$60.66K	USD	1 Quarter
Other expense	`OtherNonoperatingExpense`	$9.75K	USD	1 Quarter
Other expense	`OtherNonoperatingExpense`	$235.00	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-561.79K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-646.52K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-3.76M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-5.64M	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`	34.52M	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`	$-0.16	USD	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.76M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.64M	USD	1 Quarter
Depreciation	`Depreciation`	$179.94K	USD	1 Quarter
Depreciation	`Depreciation`	$108.36K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$23.19K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$19.60K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$60.66K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$44.49K	USD	1 Quarter
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$34.75K	USD	1 Quarter
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$56.84K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.73M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$848.59K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$758.95K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$366.47K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$391.89K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$736.99K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$501.88K	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`	$-241.38K	USD	1 Quarter
Contract and other liabilities	`IncreaseDecreaseInContractWithCustomerLiability`	$-12.68K	USD	1 Quarter
Contract and other liabilities	`IncreaseDecreaseInContractWithCustomerLiability`	$86.46K	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.84M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.95M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$98.39K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$360.22K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$84.90K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$140.95K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-183.29K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-501.18K	USD	1 Quarter
Borrowing on revolving loan	`ProceedsFromLinesOfCredit`	$11.25M	USD	1 Quarter
Borrowing on revolving loan	`ProceedsFromLinesOfCredit`	$16.15M	USD	1 Quarter
Payments on revolving loan	`RepaymentsOfLinesOfCredit`	$16.16M	USD	1 Quarter
Payments on revolving loan	`RepaymentsOfLinesOfCredit`	$11.30M	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$5.16K	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$3.17K	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$26.43K	USD	1 Quarter
Proceeds from exercise of stock options and warrants	`ProceedsFromStockOptionsExercised`	$418.69K	USD	1 Quarter
Proceeds from exercise of stock options and warrants	`ProceedsFromStockOptionsExercised`	$117.02K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$398.71K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$36.73K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.95M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.10M	USD	1 Quarter
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$30.56M	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`	$36.51M	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`	$30.56M	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`	$36.51M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$30.01M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$505.02K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$576.86K	USD	1 Quarter

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