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
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.