Axogen Inc. reported a 25.6% increase in revenue for the second quarter of 2024. This substantial growth reflects the company's continued commercial momentum in the peripheral nerve repair market.
The company also raised its full-year guidance, signaling confidence in its ongoing performance and market penetration. This upward revision provides investors with a more positive outlook on Axogen's financial trajectory for the remainder of the year.
Despite these positive developments, Axogen noted that it faced margin pressures during the quarter. These pressures were attributed to costs associated with the startup of a new facility, indicating investments in future operational capabilities.
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