Axogen, Inc. reported fourth quarter 2024 revenue of $49.4 million, representing a 15.1% increase compared to the fourth quarter of 2023. Full-year 2024 revenue reached $185.2 million, an increase of 17.8% over full-year 2023.
The company achieved a gross margin of 76.1% in Q4 2024, up from 75.8% in the prior year period, with the full-year gross margin at 75.4%. Axogen reported net income of $0.45 million, or $0.01 per share, for Q4 2024, a significant improvement from a net loss of $1.9 million, or $0.05 per share, in Q4 2023.
For the full year 2024, the net loss improved to $10.1 million, or $0.24 per share, compared to $18.9 million, or $0.46 per share, in 2023. Axogen ended the year with $29.9 million in cash, cash equivalents, and investments.
Axogen reiterated its full-year 2025 revenue growth guidance in the range of 15% to 17% and maintained its gross margin expectation of 73% to 75%. The company also reaffirmed its expectation to be net cash flow positive for the full year 2025, demonstrating confidence in its financial outlook.
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