Axogen raised its annual revenue forecast on October 28 after reporting higher third-quarter sales and earnings, according to the nerve-repair products company's results release.
Revenue for the quarter ended September 30 reached $75.8 million, up 26.2% from $60.1 million a year earlier. Gross margin declined to 74.8% from 76.6%.
Net income was $2.3 million, or four cents per share, compared with $700,000, or one cent per share. Adjusted net income rose to $13.1 million from $6.1 million; adjusted earnings were 21 cents per share, compared with 12 cents.
Axogen now forecasts at least $290 million in 2026 revenue, representing growth of at least 29%. That includes at least $7 million from BioCircuit, which it acquired on October 1.
Excluding that acquisition, Axogen projects at least $283 million in organic revenue, or growth of at least 26%. It maintained expectations for a gross margin of at least 73% and positive annual free cash flow.
These are company financial results and forecasts. Adjusted earnings exclude specified items and supplement standard accounting measures.
Sources: Axogen third-quarter results release.