Filing Flows › Axogen (AXGN) › Q1 2026
Axogen (AXGN) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 28, 2026
Axogen (AXGN) reported revenue of $61.5M for the first quarter 2026 (Q1 2026), +27% from a year earlier and +3% from the quarter before. Operating margin was -4.6%, net loss $19.6M (31.9% of revenue).
Axogen, Q1 2026: revenue $61.5M (+27% year over year), operating margin -4.6%, net loss $19.6M, operating cash flow $1.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $61.5M | +3% | +27% |
| Operating profit | −$2.8M | — | — |
| Net earnings | −$19.6M | — | — |
| Operating cash flow | $1.6M | -48% | — |
What changed
Revenue was $61.5M in Q1 2026, up 27% year over year and up 3% from the previous quarter.
Gross margin was 75.2%, up 3.2 points from Q1 2025. Operating costs exceeded revenue by $2.8M, an operating margin of -4.6%. Operating expenses grew 34% against revenue growth of 27%. The fastest-growing cost line was General & admin (+36%). The quarter ended with a net loss of $19.6M, wider than the previous quarter's $13.2M loss. Net interest and other expense of $16.8M was the main reason.
Operating cash flow was $1.6M. Non-cash charges added back $1.7M of depreciation and amortization and $6.8M of share-based compensation. Working capital and other items added $12.6M. Capital expenditures of $2.8M exceeded it, leaving free cash flow of −$1.2M.
Questions
What was Axogen's revenue in the first quarter 2026?
Axogen (AXGN) reported revenue of $61.5M for the first quarter 2026 (Q1 2026), +27% from a year earlier and +3% from the quarter before.
Was Axogen profitable in the first quarter 2026?
Operating loss was $2.8M (-4.6% of revenue) and net loss $19.6M.
Source: Axogen 10-Q on SEC EDGAR.