Filing Flows › Axogen (AXGN) › How it makes money
How Axogen (AXGN) makes money
Axogen (AXGN) made $75.8M of revenue in the third quarter 2026 (Q3 2026), +26% from a year earlier. Of every dollar of revenue, 75¢ was left as gross profit, 1¢ was left as operating profit, 3¢ was left as net earnings.
Drawing the Sankey…
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $75.8M | 100.0% |
| Cost of revenue | $19.1M | 25.2% |
| Gross profit | $56.7M | 74.8% |
| Operating expenses | $55.8M | 73.6% |
| Operating profit | $955K | 1.3% |
| Net earnings | $2.3M | 3.1% |
| Operating cash flow | $16.5M | 21.8% |
| Free cash flow | $15.1M | 20.0% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $75.8M | +26% |
| Q2 2026 | $69.7M | +23% |
| Q1 2026 | $61.5M | +27% |
| Q4 2025 | $59.9M | +21% |
| Q3 2025 | $60.1M | +24% |
| Q2 2025 | $56.7M | +18% |
| Q1 2025 | $48.6M | +17% |
From Axogen's 10-Q filed Oct 28, 2026 (on EDGAR).
Questions
How does Axogen make money?
Axogen (AXGN) made $75.8M of revenue in the third quarter 2026 (Q3 2026), +26% from a year earlier. Of every dollar of revenue, 75¢ was left as gross profit, 1¢ was left as operating profit, 3¢ was left as net earnings.
What is Axogen's profit margin?
Net earnings were $2.3M, 3.1% of revenue, in the third quarter 2026; the operating margin was 1.3%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.