Filing Flows › Axogen (AXGN) › Q3 2025
Axogen (AXGN) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 29, 2025
Axogen (AXGN) reported revenue of $60.1M for the third quarter 2025 (Q3 2025), +24% from a year earlier and +6% from the quarter before. Operating margin was 3.2%, net earnings $708K (1.2% of revenue).
Axogen, Q3 2025: revenue $60.1M (+24% year over year), operating margin 3.2%, net earnings $708K, operating cash flow $3.2M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $60.1M | +6% | +24% |
| Gross profit | $46.0M | +9% | +26% |
| Operating profit | $1.9M | +14% | — |
| Net earnings | $708K | +22% | — |
| Operating cash flow | $3.2M | -58% | -17% |
| Free cash flow | $1.7M | -76% | -48% |
What changed
Revenue was $60.1M in Q3 2025, up 24% year over year and up 6% from the previous quarter.
Gross margin was 76.6%, up 1.6 points from a year earlier. Operating profit was $1.9M, a 3.2% margin (up 3.8 points year over year). Operating expenses grew 20% against revenue growth of 24%. The fastest-growing cost line was Sales & marketing (+36%). Net earnings were $708K. The effective tax rate was 0.0%.
Operating cash flow was $3.2M (down 17% year over year), 455% of net earnings. Non-cash charges added back $1.7M of depreciation and amortization and $5.4M of share-based compensation. Working capital and other items used $4.6M. Capital expenditures of $1.5M left free cash flow of $1.7M.
Questions
What was Axogen's revenue in the third quarter 2025?
Axogen (AXGN) reported revenue of $60.1M for the third quarter 2025 (Q3 2025), +24% from a year earlier and +6% from the quarter before.
Was Axogen profitable in the third quarter 2025?
Operating profit was $1.9M (3.2% of revenue) and net earnings $708K.
Source: Axogen 10-Q on SEC EDGAR.