AXGNAxogen, Inc.
Electromedical & Electrotherapeutic Apparatus
- Revenue
- $225M
- 20% YoY
- Operating margin
- -3.5%
- 99% YoY
- EBITDA
- −$1M
- 137% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- −$281M net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCFired13% of revenueOver 10% of revenue
- Payouts exceed cash flowClear0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear0% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $127M | $139M | $159M | $187M | $225M | 20% |
| Operating income | −$25M | −$30M | −$21M | −$3M | −$8M | 139% |
| Net income | −$27M | −$29M | −$22M | −$10M | −$16M | 58% |
| Operating cash flow | −$13M | −$16M | −$6M | $5M | $812K | 82% |
| Capex | $28M | $20M | $14M | $3M | $4M | 21% |
| Stock-based comp | $11M | $16M | $14M | $16M | $30M | 89% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $174K · 1
- Net
- −$174K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 183 | 125 |
| FY2024 | — | — | 92 | 93 |
| FY2023 | — | — | 39 | 96 |
| FY2022 | — | — | 55 | 89 |
| FY2021 | — | — | 52 | 100 |