Axogen, Inc. reported second quarter 2025 revenue of $56.7 million, an 18.3% increase compared to the second quarter of 2024. This robust growth was driven by double-digit sales increases across all major clinical markets, including extremities, oral and maxillofacial, head and neck, and breast surgery.
The company achieved net income of $0.6 million in Q2 2025, a notable improvement from a net loss of $1.9 million in the prior year period. Adjusted EBITDA for the quarter increased by 66.1% year-over-year, reaching $9.3 million, reflecting improved profitability and operating leverage.
Axogen raised its full-year 2025 revenue guidance to 'at least 17%' growth, or revenue of 'at least $219 million,' up from previous guidance. The company reiterated its gross margin guidance of 73% to 75% for the full year, acknowledging a temporary 1% impact from one-time BLA approval costs.
The company ended the quarter with $35.9 million in cash and investments and expects to be net cash flow positive for the full year 2025. Progress was also reported on the Avance Nerve Graft BLA review, which remained on track for a September 2025 decision, and commercial payer coverage for nerve repair expanded to over 55% of insured Americans.
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