Filing Flows › Axogen (AXGN) › Q3 2026
Axogen (AXGN) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 28, 2026
Axogen (AXGN) reported revenue of $75.8M for the third quarter 2026 (Q3 2026), +26% from a year earlier and +9% from the quarter before. Operating margin was 1.3%, net earnings $2.3M (3.1% of revenue).
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 follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $75.8M | +9% | +26% |
| Gross profit | $56.7M | +12% | +23% |
| Operating profit | $955K | — | -50% |
| Net earnings | $2.3M | — | +230% |
| Operating cash flow | $16.5M | +129% | +413% |
| Free cash flow | $15.1M | +139% | +789% |
What changed
Revenue was $75.8M in Q3 2026, up 26% year over year and up 9% from the previous quarter.
Gross margin was 74.8%, down 1.7 points from Q3 2025. Operating profit was $1.0M, a 1.3% margin (down 1.9 points year over year). Operating profit fell $1.0M even though revenue rose $15.8M versus Q3 2025, so costs grew faster than sales. Operating expenses grew 27% against revenue growth of 26%. The fastest-growing cost line was General & admin (+52%). Net earnings were $2.3M, up 230% year over year. The effective tax rate was 0.0%. Non-operating items added $1.4M, 59% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $16.5M (up 413% year over year), 708% of net earnings. Non-cash charges added back $1.7M of depreciation and amortization and $8.8M of share-based compensation. Working capital and other items added $3.7M. Capital expenditures of $1.4M left free cash flow of $15.1M.
Questions
What was Axogen's revenue in the third quarter 2026?
Axogen (AXGN) reported revenue of $75.8M for the third quarter 2026 (Q3 2026), +26% from a year earlier and +9% from the quarter before.
Was Axogen profitable in the third quarter 2026?
Operating profit was $955K (1.3% of revenue) and net earnings $2.3M.
Source: Axogen 10-Q on SEC EDGAR.