Axogen, Inc. (AXGN) on Tuesday reported financial results for the first quarter ended March 31, 2026, reflecting 26.6% revenue growth. In addition, the firm raised its full-year 2026 revenue guidance.
Following the news, AXGN is surging 9.02%, at $42.94.
Axogen develops and commercialises technologies for peripheral nerve regeneration and repair.
For the first quarter of 2026, net loss expanded to $19.58 million, or $0.38 per share, compared to $3.83 million, or $0.08 per share, in the prior year.
Adjusted net income was $4.1 million or $0.07 per share, compared to an adjusted net loss of $0.9 million, or $0.02 per share a year ago.
Revenue increased 26.6% to $61.46 million from $48.56 million in the prior year.
As of March 31, 2026, the firm had cash and cash equivalents, restricted cash, and investments of $103.6 million.
Looking ahead, the firm raised its revenue guidance to at least 20%, or $270 million, for the full year, up from at least 18%, or $265.7 million, expected earlier.
"We are pleased with our first-quarter revenue performance and the progress we're making across each of Axogen's strategic plan priorities," said Michael Dale, President and CEO of Axogen.
AXGN has traded between $9.22 and $45.75 over the last year. AXGN closed Monday's trade at $39.39.
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