10-Q Filing

AXOGEN, INC. CIK: 805928 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001558370-18-007981`
Period End Date	20180930
Filing Date	20181029
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	axgn-20180930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 62 Cash Flow Statement 70

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$737.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$461.00K	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`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$30.01M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$25.63M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.04M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.51M	USD	Point-in-time
Investments	`ShortTermInvestments`	$100.74M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	38.67M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	34.35M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	34.35M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	38.67M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $737,000 and $461,000, respectively	`AccountsReceivableNetCurrent`	$13.99M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $737,000 and $461,000, respectively	`AccountsReceivableNetCurrent`	$11.06M	USD	Point-in-time
Inventory	`InventoryNet`	$10.95M	USD	Point-in-time
Inventory	`InventoryNet`	$7.32M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$853.38K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$1.48M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$152.79M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$55.74M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$7.67M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.20M	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$936.99K	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$1.20M	USD	Point-in-time
Total assets	`Assets`	$58.87M	USD	Point-in-time
Total assets	`Assets`	$161.66M	USD	Point-in-time
Borrowings under revolving loan agreement	`LinesOfCreditCurrent`	$4.00M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$11.96M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$8.95M	USD	Point-in-time
Current maturities of long term obligations	`LongTermDebtCurrent`	$735.02K	USD	Point-in-time
Current maturities of long term obligations	`LongTermDebtCurrent`	$35.96K	USD	Point-in-time
Contract liabilities, current	`ContractWithCustomerLiabilityCurrent`	$22.54K	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`	$12.02M	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`	$38.31K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$95.51K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$76.00K	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityNoncurrent`	$48.69K	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityNoncurrent`	$68.63K	USD	Point-in-time
Total liabilities	`Liabilities`	$33.69M	USD	Point-in-time
Total liabilities	`Liabilities`	$12.18M	USD	Point-in-time
Common stock, $0.01 par value per share; 100,000,000 shares authorized; 38,672,216 and 34,350,329 shares issued and outstanding	`CommonStockValue`	$386.72K	USD	Point-in-time
Common stock, $0.01 par value per share; 100,000,000 shares authorized; 38,672,216 and 34,350,329 shares issued and outstanding	`CommonStockValue`	$343.50K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$153.17M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$294.59M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-128.33M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-145.50M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$25.18M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$149.48M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$58.87M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$161.66M	USD	Point-in-time

Income Statement 62 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$43.46M	USD	3 Qtrs
Revenues	`Revenues`	$16.05M	USD	1 Quarter
Revenues	`Revenues`	$22.66M	USD	1 Quarter
Revenues	`Revenues`	$60.50M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$9.28M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$6.70M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$2.50M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$3.46M	USD	1 Quarter
Gross profit	`GrossProfit`	$19.20M	USD	1 Quarter
Gross profit	`GrossProfit`	$36.76M	USD	3 Qtrs
Gross profit	`GrossProfit`	$51.22M	USD	3 Qtrs
Gross profit	`GrossProfit`	$13.54M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$41.15M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$27.52M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$14.65M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$9.47M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$7.97M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$3.31M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.80M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$4.73M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$10.66M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$16.75M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.78M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.07M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$42.90M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$65.87M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$24.03M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$15.04M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.83M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.50M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.14M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-14.64M	USD	3 Qtrs
Investment income	`InvestmentIncomeNonoperating`	$883.66K	USD	3 Qtrs
Investment income	`InvestmentIncomeNonoperating`	$727.12K	USD	1 Quarter
Interest expense	`InterestExpenseNet`	$577.94K	USD	1 Quarter
Interest expense	`InterestExpenseNet`	$1.64M	USD	3 Qtrs
Interest expense	`InterestExpenseNet`	$-5.96K	USD	1 Quarter
Interest expense	`InterestExpenseNet`	$1.12M	USD	3 Qtrs
Interest expense deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$136.71K	USD	3 Qtrs
Interest expense deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$46.11K	USD	1 Quarter
Interest expense deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$81.33K	USD	3 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-2.19M	USD	3 Qtrs
Other expense	`OtherNonoperatingExpense`	$1.60K	USD	1 Quarter
Other expense	`OtherNonoperatingExpense`	$25.39K	USD	3 Qtrs
Other expense	`OtherNonoperatingExpense`	$126.00	USD	1 Quarter
Other expense	`OtherNonoperatingExpense`	$15.60K	USD	3 Qtrs
Total other expense	`NonoperatingIncomeExpense`	$732.95K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-1.80M	USD	3 Qtrs
Total other expense	`NonoperatingIncomeExpense`	$-625.65K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-2.52M	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-2.12M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-4.10M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-7.95M	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-17.17M	USD	3 Qtrs
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	33.15M	shares	3 Qtrs
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	38.50M	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`	36.58M	shares	3 Qtrs
Loss per common share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	1 Quarter
Loss per common share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.47	USD	3 Qtrs
Loss per common share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.24	USD	3 Qtrs
Loss per common share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.11	USD	1 Quarter

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.12M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.10M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.95M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-17.17M	USD	3 Qtrs
Depreciation	`Depreciation`	$129.00K	USD	1 Quarter
Depreciation	`Depreciation`	$200.00K	USD	1 Quarter
Depreciation	`Depreciation`	$346.84K	USD	3 Qtrs
Depreciation	`Depreciation`	$574.68K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$58.55K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$60.46K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$19.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$136.71K	USD	3 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$81.33K	USD	3 Qtrs
Loss on disposal of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-1.36K	USD	3 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-2.19M	USD	3 Qtrs
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$83.73K	USD	3 Qtrs
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$297.56K	USD	3 Qtrs
Provision for inventory write down	`InventoryWriteDown`	$319.00K	USD	1 Quarter
Provision for inventory write down	`InventoryWriteDown`	$999.70K	USD	3 Qtrs
Provision for inventory write down	`InventoryWriteDown`	$876.66K	USD	3 Qtrs
Provision for inventory write down	`InventoryWriteDown`	$295.00K	USD	1 Quarter
Change in net unrealized gains and losses	`ChangeInNetUnrealizedHoldingGainLoss`	$375.10K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$2.49M	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$5.98M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.23M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.22M	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$4.51M	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$2.24M	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$624.04K	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$60.11K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$3.00M	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$70.36K	USD	3 Qtrs
Contract and other liabilities	`IncreaseDecreaseInContractWithCustomerLiability`	$-48.58K	USD	3 Qtrs
Contract and other liabilities	`IncreaseDecreaseInContractWithCustomerLiability`	$99.37K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-12.89M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-8.19M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.05M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$616.43K	USD	3 Qtrs
Purchase of short-term investments	`PaymentsToAcquireShortTermInvestments`	$81.80M	USD	Point-in-time
Purchase of short-term investments	`PaymentsToAcquireShortTermInvestments`	$103.87M	USD	3 Qtrs
Sale of short-term investments	`ProceedsFromSaleOfShortTermInvestments`	$3.50M	USD	3 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$182.95K	USD	3 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$319.69K	USD	3 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-799.38K	USD	3 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-106.74M	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$132.96M	USD	3 Qtrs
Cash paid for equity offering	`PaymentsOfStockIssuanceCosts`	$256.77K	USD	3 Qtrs
Borrowing on revolving loan	`ProceedsFromLinesOfCredit`	$26.25M	USD	3 Qtrs
Borrowing on revolving loan	`ProceedsFromLinesOfCredit`	$41.55M	USD	3 Qtrs
Payments on revolving loan and prepayment penalties	`RepaymentsOfLinesOfCredit`	$41.58M	USD	3 Qtrs
Payments on revolving loan and prepayment penalties	`RepaymentsOfLinesOfCredit`	$30.49M	USD	3 Qtrs
Repayments of long-term debt and prepayment penalties	`RepaymentsOfLongTermDebt`	$15.59K	USD	3 Qtrs
Repayments of long-term debt and prepayment penalties	`RepaymentsOfLongTermDebt`	$22.50M	USD	3 Qtrs
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$29.47K	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.09M	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$2.78M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$108.75M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.02M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.97M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-10.88M	USD	3 Qtrs
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$30.01M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$25.63M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$22.04M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$36.51M	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`	$25.63M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$22.04M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$36.51M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$1.63M	USD	3 Qtrs
Cash paid for interest	`InterestPaidNet`	$1.32M	USD	3 Qtrs

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