Filing Flows › Axogen (AXGN) › Q3 2026 › vs Q3 2025
Axogen (AXGN) Q3 2026 vs Q3 2025 (year over year)
Axogen's revenue rose $15.8M (+26%) from $60.1M in Q3 2025 to $75.8M in Q3 2026. Gross margin 74.8% against 76.6% (-1.7 pts).
Axogen, Q3 2026: revenue $75.8M (+26% year over year), operating margin 1.3%, net earnings $2.3M, operating cash flow $16.5M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 74.8% | 76.6% | -1.7 pts |
| Operating margin | 1.3% | 3.2% | -1.9 pts |
| Net margin | 3.1% | 1.2% | +1.9 pts |
| Free cash flow margin | 20.0% | 2.8% | +17.1 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $75.8M | $60.1M | $15.8M | +26% |
| Gross profit | $56.7M | $46.0M | $10.7M | +23% |
| Cost of revenue | $19.1M | $14.1M | $5.0M | +36% |
| Other income, net | $1.4M | −$1.2M | $2.6M | — |
| Operating profit | $955K | $1.9M | −$957K | -50% |
| Operating expenses | $55.8M | $44.1M | $11.7M | +27% |
| Pre-tax earnings | $2.3M | $708K | $1.6M | +230% |
| Research & development | $8.9M | $7.6M | $1.4M | +18% |
| Sales & marketing | $30.4M | $25.7M | $4.7M | +18% |
| General & admin | $16.5M | $10.8M | $5.6M | +52% |
| Net earnings | $2.3M | $708K | $1.6M | +230% |
| Depreciation & amortization | $1.7M | $1.7M | −$36K | -2% |
| Share-based compensation | $8.8M | $5.4M | $3.4M | +62% |
| Working capital & other | $3.7M | −$4.6M | $8.4M | — |
| Operating cash flow | $16.5M | $3.2M | $13.3M | +413% |
| Free cash flow (OCF − capex) | $15.1M | $1.7M | $13.4M | +789% |
| Capital expenditures | $1.4M | $1.5M | −$128K | -8% |
Questions
How much did Axogen's revenue grow year over year in Q3 2026?
Axogen's revenue rose $15.8M (+26%) from $60.1M in Q3 2025 to $75.8M in Q3 2026. Gross margin 74.8% against 76.6% (-1.7 pts).