The following is a summary of the AxoGen, Inc. (AXGN) Q1 2024 Earnings Call Transcript:

Financial Performance:

• AxoGen reported a Q1 revenue increase of 12.9% to $41.4 million compared to last year.

• Gross profit for the quarter was $32.6 million, an increase from $28.5 million recorded last year.

• This represents a gross margin of 78.8%, up from 77.7% last year.

• The net loss for the quarter was $6.6 million.

Business Progress:

• AxoGen plans to submit a Biologics License Application (BLA) for Avance nerve graft by Q3 2024, with potential approval in mid 2025.

• The company introduced new products to the protection space and Resensation technique for implant-based breast neurotization.

• Continued expansion of nerve protection offerings with Avive+ Soft Tissue Matrix is underway.

• AxoGen is driving sales productivity and penetrating high potential accounts across multiple surgeon specialties.

• Increasing demand and interest in AxoGen's Resensation technique and growth in breast neurotization have been observed.

• The company has begun to see migration of procedures into ambulatory surgery centers due to improved reimbursement structures.

More details: AxoGen IR

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