Key Highlights:

  • Revenue came in at.
  • Full Year Revenue Guidance totaled At least 24% growth or USD 279 million, raised from previous expectations based on commercial.
  • Breast Segment Revenue stood at Grew more than 50% year over year in the second quarter.
  • Extremities and OMF Segment Revenue was increased 15% combined through the first half of 2026.

Axogen, Inc. (NASDAQ:AXGN) is scheduled to report third quarter results on Wednesday, Oct. 28, before the market open. Consensus estimates call for adjusted earnings per share of USD 0.13 on revenue of USD 73.18 million, against a market capitalization of USD 2.23 billion.

In the most recently reported quarter, Revenue came in at.

Avance Revenue Contribution and Other Business Trends

Avance Revenue Contribution came in at Represented 65% of total second quarter revenue, an increase from approximately 60% in 2025 due to strong demand and adoption across target markets. Gross Margin totaled 72.7% for the quarter, a decrease from 74.2% last year caused by a shift in product mix toward longer Avance grafts used in breast procedures. Adjusted Net Income stood at USD 7.3 million or USD 0.12 per share, compared to USD 5.7 million or USD 0.12 per share in the prior year period. Adjusted EBITDA was reported at USD 8.4 million, representing a 12.1% margin, down from 16.3% last year due to increased compensation and investment in commercial expansion.

What Management Guided

Full Year Gross Margin Guidance came in at At least 73%, updated from previous plans due to the impact of the current breast product mix on manufacturing costs.

Cash and Investments and Capital Position

Cash and Investments came in at USD 113.4 million as of June 30, 2026, an increase of USD 9.8 million from the previous quarter reflecting the impact of recent common stock issuance. Active Breast Programs totaled 215 programs, an increase of more than 40 programs year over year reflecting focused market development efforts. Active Breast Surgeons stood at 560 surgeons, an increase of more than 150 surgeons year over year due to training initiatives and increasing patient awareness. Commercial Sales Force was reported at 172 representatives and managers at quarter end, including 15 additions year-to-date to expand market coverage. High Potential Accounts came in at 690 active accounts, contributing 60% of total revenue and 51% of year-to-date growth through the second quarter.

Account Productivity and Additional Detail

Account Productivity came in at 20% year-over-year growth in high potential accounts and 24% growth in accounts not classified as high potential. Active Surgeon Growth totaled More than 210 surgeons added year-to-date, exceeding the company's internal 2026 strategic targets. Professional Education stood at Trained 155 surgeons across nine programs year-to-date to drive broader clinical adoption of the nerve repair algorithm. Payer Coverage was reported at 86% of covered lives in the United States now have access to Avance, with Aetna currently reviewing its coverage policy. Free Cash Flow came in at USD 4.1 million generated in the first half of 2026, with the company maintaining expectations to remain free cash flow positive for the full year.

Figures to Follow in the Release

Investors can watch third quarter results against the figures management has already put on record, including the following: Full Year Revenue Guidance came in at At least 24% growth or USD 279 million, raised from previous expectations based on commercial execution momentum and sales force productivity.