AXGN Axogen, Inc. - Common Stock
NASDAQ · Health Care · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Jul 29, 2026
$37.39
· of 52w range
· above low
· to high
$15.2752w low
$52.9152w high
Market Cap (MRQ)
$2.01B
P/E (TTM)
-55.0
EPS (TTM)
$-0.68
Revenue (TTM)
$251M
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52W Range
$15–$53
Analyst Rating
BUY
Price Target
$54
P/E
-55.0
ROE
-18.2%
Net Profit Margin
-13.4%
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AXGN Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$37.39
Market Cap (MRQ)
$2.01B
P/E (TTM)
-55.0
EPS (TTM)
$-0.68
Revenue (TTM)
$251M
ROE (TTM)
-18.2%
Debt/Equity (MRQ)
0.0
52W Range
$15–$53
AXGN Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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Stock splits
| Ex-date | Split | Type |
|---|---|---|
| July 11, 1994 | 21-for-20 | Forward |
| July 12, 1993 | 21-for-20 | Forward |
| July 10, 1992 | 21-for-20 | Forward |
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$225M2016-12-31 → 2025-12-31
EPS$-0.342019-12-31 → 2025-12-31
Free Cash Flow$-3M2016-12-31 → 2025-12-31
Net margin-13.4%2016-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | AXGN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | -55.05Y avg ≈-42.0 | ≈-42.0 | · | · | |
| P/S (TTM) | 8.05Y avg ≈3.9 | ≈3.9 | 3.4 | Overvalued | |
| P/B (MRQ) | 7.85Y avg ≈6.4 | ≈6.4 | 4.0 | Overvalued | |
| EV / EBITDA (TTM) | -297.85Y avg ≈-275.9 | ≈-275.9 | · | · | |
| Price / FCF (TTM) | 233.35Y avg ≈-11.0 | ≈-11.0 | · | · | |
| Price / Cash Flow (TTM) | 133.35Y avg ≈495.6 | ≈495.6 | 24.4 | Overvalued | |
| EV / Revenue (TTM) | 7.55Y avg ≈3.9 | ≈3.9 | · | · | |
| EV / FCF (TTM) | 220.45Y avg ≈-9.1 | ≈-9.1 | · | · | |
| Price / Tangible Book (MRQ) | 8.15Y avg ≈6.2 | ≈6.2 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | AXGN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Gross Margin (TTM) | 74.6%5Y avg ≈78.1% | ≈78.1% | 72.1% | Top tier | |
| Operating Margin (TTM) | -5.1%5Y avg ≈-9.7% | ≈-9.7% | 3.0% | Weak | |
| EBITDA Margin (TTM) | -2.5%5Y avg ≈-7.4% | ≈-7.4% | 3.0% | Weak | |
| Net Profit Margin (TTM) | -13.4%5Y avg ≈-11.8% | ≈-11.8% | 3.0% | Weak | |
| ROA (TTM) | -13.1%5Y avg ≈-9.2% | ≈-9.2% | -0.86% | Weak | |
| ROE (TTM) | -18.2%5Y avg ≈-17.2% | ≈-17.2% | -1.1% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | AXGN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 0.05Y avg ≈0.4 | ≈0.4 | 0.1 | Low debt | |
| Current Ratio (MRQ) | 6.65Y avg ≈4.1 | ≈4.1 | 4.5 | Strong liquidity | |
| Quick Ratio (MRQ) | 4.85Y avg ≈2.7 | ≈2.7 | 2.9 | Strong liquidity | |
| Long-Term Debt / Equity (MRQ) | 0.05Y avg ≈0.4 | ≈0.4 | 0.1 | Low debt |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | AXGN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 20.2%5Y avg ≈15.0% | ≈15.0% | · | · | |
| Revenue CAGR 3Y | 17.6%5Y avg ≈14.5% | ≈14.5% | · | · | |
| Revenue CAGR 5Y | 14.9% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | AXGN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 1.15Y avg ≈0.9 | ≈0.9 | 0.6 | Top tier | |
| Inventory Turnover | 1.55Y avg ≈1.6 | ≈1.6 | 1.6 | In line | |
| Receivables Turnover | 9.05Y avg ≈7.6 | ≈7.6 | 8.1 | Top tier | |
| Revenue / Employee | ≈$362.1K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Annualized Payout≈$1.00
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Jan 27, 2010 | $1.00 | USD | ≈22.2% |
| Feb 23, 2005 | $0.06 | USD | ≈2.6% |
| Jul 10, 1992 | $0.04 | USD | ≈0.50% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-18.3%
Next Report
Oct 27, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 12, 2026 | $0.12 | $0.12 | -3.1% |
| March 31, 2026 | May 6, 2026 | $0.07 | $0.07 | -4.5% |
| Dec. 31, 2025 | $0.07 | $0.10 | -29.4% | |
| Sept. 30, 2025 | $0.12 | $0.07 | 64.2% | |
| June 30, 2025 | $0.12 | $0.06 | 85.8% | |
| March 31, 2025 | $-0.02 | $0.02 | -222.7% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $225M | $187M | $159M | $139M | $127M | $112M | $107M | $84M | $60M | $41M | $27M | $17M | |
| Cost of Revenue | $58M | $45M | $37M | $30M | $23M | $22M | $17M | $13M | $9M | $6M | $5M | $3M | |
| Gross Profit | $167M | $142M | $122M | $109M | $104M | $91M | $89M | $71M | $51M | $35M | $22M | $13M | |
| R&D Expense | $33M | $28M | $27M | $26M | $24M | $18M | $18M | $12M | $7M | $4M | $3M | $3M | |
| SG&A Expense | $45M | $39M | $38M | $41M | $32M | $26M | $31M | $23M | $15M | $10M | $8M | $7M | |
| Operating Expenses | $175M | $145M | $143M | $139M | $130M | $114M | $121M | $92M | $59M | $43M | $32M | $23M | |
| Operating Income | $-8M | $-3M | $-21M | $-30M | $-25M | $-23M | $-31M | $-20M | $-8M | $-8M | $-9M | $-10M | |
| Interest Expense | · | · | $3M | $624.0K | $1M | $1M | $40.0K | $1M | $2M | $5M | $4M | $7M | |
| Other Non-op | $167.0K | $-199.0K | $-437.0K | $-230.0K | $-278.0K | $-38.0K | $2M | $-2M | $-2M | $-6M | $26.8K | $3.1K | |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Income | $-16M | $-10M | $-22M | $-29M | $-27M | $-24M | $-29M | $-22M | $-10M | $-14M | $-13M | $-18M | |
| EPS (Basic) | $-0.34 | $-0.23 | $-0.51 | $-0.69 | $-0.65 | $-0.60 | $-0.74 | · | · | · | · | · | |
| EPS (Diluted) | $-0.34 | $-0.23 | $-0.51 | $-0.69 | $-0.65 | $-0.60 | $-0.74 | · | · | · | · | · | |
| Shares (Basic) | 46,050,266 | 44,257,754 | 42,878,543 | 42,083,125 | 41,214,889 | 39,966,937 | 39,235,000 | · | · | · | · | · | |
| Shares (Diluted) | 46,050,266 | 44,257,754 | 42,878,543 | 42,083,125 | 41,214,889 | 39,966,937 | 39,235,000 | · | · | · | · | · | |
| EBITDA | $-1M | $3M | $-17M | · | $-25M | $-23M | · | · | $-8M | $-8M | $-9M | $-10M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $36M | $28M | $31M | $15M | $33M | $49M | $36M | $24M | $37M | $30M | $26M | $8M | |
| Short-term Investments | $6M | $6M | $0 | $34M | $51M | $55M | $61M | $92M | · | · | · | · | |
| Receivables | $26M | $24M | $25M | $22M | $18M | $18M | $17M | $15M | $11M | $8M | $5M | $3M | |
| Inventory | $42M | $33M | $23M | $19M | $17M | $13M | $14M | $12M | $7M | $5M | $4M | $3M | |
| Prepaid Expense | $6M | $2M | $3M | $2M | $2M | $4M | $2M | $1M | $853.0K | $511.8K | $424.9K | $109.4K | |
| Current Assets | $120M | $99M | $88M | $98M | $127M | $145M | $135M | $151M | $56M | $44M | $35M | $14M | |
| PP&E (Net) | · | · | · | · | $63M | $38M | $15M | $8M | $2M | $1M | $970.9K | $619.0K | |
| PP&E (Gross) | · | · | · | · | $70M | $43M | $19M | $11M | · | · | · | · | |
| Accum. Depreciation | · | · | · | · | $8M | $5M | $4M | $3M | $2M | $2M | $2M | $2M | |
| Intangibles | $7M | $6M | $5M | $4M | $3M | $2M | $2M | $1M | $937.0K | $829.0K | $678.1K | $577.2K | |
| Other Non-current Assets | $0 | · | · | · | · | $0 | · | · | · | · | · | · | |
| Total Assets | $222M | $204M | $197M | $195M | $208M | $201M | $155M | $160M | $59M | $46M | $37M | $16M | |
| Accounts Payable | $21M | $8M | $12M | $9M | $6M | $5M | $8M | $5M | $3M | $4M | $2M | $1M | |
| Current Liabilities | $24M | $31M | $30M | $24M | $24M | $23M | $21M | $13M | $14M | $11M | $4M | $2M | |
| Capital Leases | $17M | $19M | $21M | $20M | $21M | $21M | $2M | · | · | · | · | · | |
| Other Non-current Liabilities | $141.0K | $94.0K | $0 | · | $0 | $3.0K | $15.0K | $70.0K | $95.0K | · | · | · | |
| Total Liabilities | $93M | $100M | $101M | $94M | $95M | $78M | $22M | $13M | $34M | $31M | $29M | $28M | |
| Long-term Debt | $48M | $47M | $47M | $46M | $45M | $32M | $0 | $63.0K | $21M | $20M | · | · | |
| Total Debt | $48M | $47M | $47M | · | $45M | $32M | · | · | $21M | $20M | $26M | $25M | |
| Common Stock | $472.0K | $441.0K | $431.0K | $424.0K | $417.0K | $406.0K | $396.0K | $389.0K | $343.0K | $330.1K | $299.8K | $194.9K | |
| Retained Earnings | $-307M | $-291M | $-281M | $-260M | $-231M | $-204M | $-180M | $-151M | $-128M | $-118M | $-103M | $-90M | |
| Stockholders' Equity | $129M | $104M | $96M | $101M | $113M | $123M | $132M | $147M | $25M | $15M | $8M | $-11M | |
| Liabilities + Equity | $222M | $204M | $197M | $195M | $208M | $201M | $155M | $160M | $59M | $46M | $37M | $16M | |
| Shares Outstanding | 47,199,797 | 44,148,836 | 43,124,496 | 42,445,517 | 41,737,000 | 40,619,000 | 39,590,000 | 38,901,000 | 34,350,000 | 33,009,000 | 29,985,000 | 19,488,814 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $7M | $6M | $4M | $3M | $3M | $2M | · | · | · | · | · | $153.7K | |
| Stock-based Comp | $30M | $16M | $14M | $16M | $11M | $8M | $10M | $8M | $4M | $1M | $1M | $956.4K | |
| Amort. of Intangibles | $315.0K | $267.0K | $273.0K | $265.0K | $202.0K | $153.0K | $123.0K | $77.0K | $79.0K | $75.0K | $45.8K | $45.2K | |
| Other Non-cash | $-20M | $-8M | $-3M | · | · | · | · | · | · | · | · | $6M | |
| Operating Cash Flow | $812.0K | $5M | $-6M | $-16M | $-13M | $-10M | $-20M | $-18M | $-9M | $-11M | $-13M | $-10M | |
| CapEx | $4M | $3M | $14M | $20M | $28M | $22M | $5M | $6M | $1M | $931.0K | $408.8K | $542.0K | |
| Investing Cash Flow | $-5M | $-10M | $19M | $-3M | $-24M | $-17M | $27M | $-98M | $-1M | $-1M | $-555.5K | · | |
| Debt Issued | · | · | $0 | $0 | $15M | $35M | $0 | $0 | · | · | · | · | |
| Net Debt Issued | · | · | $0 | · | $15M | $35M | · | · | $-20.9K | $-2M | · | $-2M | |
| Stock Issued | · | · | · | $0 | $0 | $4M | $0 | $133M | $16M | $19M | $31M | $2M | |
| Net Stock Activity | · | · | · | · | $0 | $4M | · | · | $16M | $19M | $31M | $2M | |
| Financing Cash Flow | $10M | $2M | $2M | $2M | $20M | $40M | $4M | $110M | $17M | $16M | $31M | · | |
| Net Change in Cash | $6M | $-3M | $15M | $-17M | $-17M | $14M | $11M | $-6M | $6M | $4M | $18M | $-12M | |
| Free Cash Flow | $-3M | $1M | $-20M | · | $-41M | $-32M | · | · | $-10M | $-12M | $-13M | $-11M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 74.3% | 75.8% | 80.4% | · | 82.0% | 80.8% | · | · | 84.6% | 84.3% | 82.3% | 79.5% | |
| Operating Margin | -3.5% | -1.8% | -13.5% | · | -20.0% | -20.6% | · | · | -13.2% | -19.8% | -33.9% | -58.3% | |
| Net Margin | -7.0% | -5.3% | -13.7% | · | -21.2% | -21.2% | · | · | -17.3% | -35.1% | -48.9% | -105.3% | |
| EBITDA Margin | -0.53% | 1.7% | -10.8% | · | -20.0% | -20.6% | · | · | -13.2% | -19.8% | -33.9% | -57.4% | |
| ROA | -7.4% | -5.0% | -11.1% | · | -13.2% | -13.4% | · | · | -19.9% | -34.7% | -49.5% | -80.3% | |
| ROE | -13.0% | -9.8% | -22.4% | · | -23.7% | -19.4% | · | · | -52.1% | -124.7% | 875.8% | 318.8% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.1 | 3.2 | 2.9 | · | 5.2 | 6.4 | · | · | 4.1 | 4.0 | 9.4 | 5.9 | |
| Quick Ratio | 2.9 | 1.9 | 1.8 | · | 4.2 | 5.3 | · | · | 3.5 | 3.4 | 8.3 | 4.5 | |
| Debt / Equity | 0.4 | 0.5 | 0.5 | · | 0.4 | 0.3 | · | · | 0.8 | 1.4 | 3.1 | -2.2 | |
| LT Debt / Equity | 0.4 | 0.5 | 0.5 | · | 0.4 | 0.3 | · | · | 0.8 | 1.4 | 3.1 | -2.2 | |
| Interest Coverage | · | · | -7.6 | · | -18.7 | -22.0 | · | · | -3.6 | -1.5 | -2.3 | -1.4 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 1.1 | 0.9 | 0.8 | · | 0.6 | 0.6 | · | · | 1.1 | 1.0 | 1.0 | 0.8 | |
| Inventory Turnover | 1.5 | 1.6 | 1.5 | · | 1.6 | 1.6 | · | · | 1.5 | 1.4 | 1.4 | 1.0 | |
| Receivables Turnover | 9.0 | 7.6 | 6.7 | · | 7.1 | 6.5 | · | · | 6.3 | 6.4 | 7.1 | 7.1 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $2.73 | $2.35 | $2.22 | · | $2.70 | $3.03 | · | · | $0.73 | $0.45 | $0.27 | $-0.58 | |
| Revenue / Share | $4.89 | $4.23 | $3.71 | · | $3.09 | · | · | · | · | · | · | · | |
| Cash Flow / Share | $0.02 | $0.10 | $-0.13 | · | $-0.33 | · | · | · | · | · | · | · | |
| Cash / Share | $0.75 | $0.62 | $0.72 | · | $0.78 | $1.20 | · | · | $1.06 | $0.91 | $0.86 | $0.42 | |
| EPS (TTM) | $-0.34 | $-0.23 | $-0.51 | $-0.69 | $-0.65 | $-0.60 | $-0.74 | · | · | · | · | · |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 20.2% | 17.8% | 14.7% | 8.8% | 13.4% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 17.6% | 13.7% | 12.3% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 14.9% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $225M | $187M | $159M | $139M | $127M | $112M | $107M | $84M | $60M | $41M | $27M | $17M | |
| Net Income TTM | $-16M | $-10M | $-22M | $-29M | $-27M | $-24M | $-29M | $-22M | $-10M | $-14M | $-13M | $-18M | |
| Market Cap | $1.54B | $728M | $295M | · | $391M | $727M | · | · | $972M | $297M | $150M | $70M | |
| Enterprise Value | $1.55B | $742M | $310M | · | $352M | $655M | · | · | $956M | $287M | $150M | $87M | |
| P/E | -96.3 | -71.7 | -13.4 | -14.5 | -14.4 | -29.8 | -24.2 | · | · | · | · | · | |
| P/S | 6.9 | 3.9 | 1.9 | · | 3.1 | 6.5 | · | · | 16.1 | 7.2 | 5.5 | 4.2 | |
| P/B | 12.0 | 7.0 | 3.1 | · | 3.5 | 5.9 | · | · | 38.6 | 19.9 | 18.3 | -6.2 | |
| P / Tangible Book | 12.7 | 7.4 | 3.2 | 4.4 | 3.6 | 6.0 | · | · | · | · | · | · | |
| P / Cash Flow | 1902.5 | 160.4 | -51.5 | · | -29.2 | -75.5 | · | · | -105.2 | -26.5 | -11.5 | -6.7 | |
| P / FCF | -526.7 | 507.4 | -15.0 | · | -9.5 | -23.1 | · | · | -94.0 | -24.4 | -11.1 | -6.4 | |
| EV / EBITDA | -1305.1 | 233.2 | -18.0 | · | -13.8 | -28.3 | · | · | -120.3 | -35.3 | -16.1 | -9.0 | |
| EV / FCF | -529.1 | 517.1 | -15.8 | · | -8.5 | -20.8 | · | · | -92.5 | -23.6 | -11.1 | -7.9 | |
| EV / Revenue | 6.9 | 4.0 | 2.0 | · | 2.8 | 5.8 | · | · | 15.8 | 7.0 | 5.5 | 5.2 | |
| Earnings Yield | -1.0% | -1.4% | -7.5% | -6.9% | -6.9% | -3.4% | -4.1% | · | · | · | · | · |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $70M | $61M | $60M | $60M | $57M | $49M | $49M | $49M | $48M | $41M | $43M | $41M | $38M | $37M | $36M | $37M | |
| Cost of Revenue | $19M | $15M | $15M | $14M | $15M | $14M | $12M | $12M | $13M | $9M | $11M | $10M | $9M | $8M | $12M | $6M | |
| Gross Profit | $51M | $46M | $44M | $46M | $42M | $35M | $38M | $36M | $35M | $33M | $32M | $32M | $30M | $28M | $24M | $31M | |
| R&D Expense | $9M | $8M | $12M | $8M | $7M | $6M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $6M | $5M | $7M | |
| SG&A Expense | $13M | $13M | $15M | $11M | $10M | $9M | $9M | $11M | $9M | $10M | $8M | $10M | $11M | $10M | $13M | $9M | |
| Operating Expenses | $53M | $49M | $54M | $44M | $40M | $37M | $36M | $37M | $36M | $37M | $35M | $36M | $37M | $36M | $30M | $36M | |
| Operating Income | $-2M | $-3M | $-10M | $2M | $2M | $-2M | $2M | $-316.0K | $-428.0K | $-5M | $-3M | $-4M | $-7M | $-7M | $-6M | $-5M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $2M | · | $827.0K | $148.0K | $16.0K | · | $61.0K | |
| Other Non-op | $-145.0K | $23.0K | $0 | $25.0K | $179.0K | $-37.0K | $-45.0K | $-48.0K | $1.0K | $-107.0K | $-73.0K | $-6.0K | $-277.0K | $-81.0K | $-133.0K | $-57.0K | |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | · | · | · | · | · | · | |
| Net Income | $-2M | $-20M | $-13M | $708.0K | $579.0K | $-4M | $450.0K | $-2M | $-2M | $-7M | $-4M | $-4M | $-7M | $-7M | $-5M | $-4M | |
| EPS (Basic) | $-0.03 | $-0.38 | $-0.29 | $0.02 | $0.01 | $-0.08 | $0.00 | $-0.04 | $-0.04 | $-0.15 | $-0.08 | $-0.10 | $-0.16 | $-0.17 | $-0.14 | $-0.10 | |
| EPS (Diluted) | $-0.03 | $-0.38 | $-0.28 | $0.01 | $0.01 | $-0.08 | $0.00 | $-0.04 | $-0.04 | $-0.15 | $-0.08 | $-0.10 | $-0.16 | $-0.17 | $-0.14 | $-0.10 | |
| Shares (Basic) | 53,339,258 | 51,591,504 | · | 46,494,598 | 46,063,092 | 45,204,076 | · | 43,882,110 | 43,713,313 | 43,233,149 | · | 43,022,328 | 42,862,384 | 42,571,021 | · | 42,220,519 | |
| Shares (Diluted) | 53,339,258 | 51,591,504 | · | 49,088,436 | 47,980,830 | 45,204,076 | · | 43,882,110 | 43,713,313 | 43,233,149 | · | 43,022,328 | 42,862,384 | 42,571,021 | · | 42,220,519 | |
| EBITDA | $-2M | $-1M | · | $2M | $2M | $67.0K | · | $-316.0K | $-428.0K | $-3M | · | $-4M | $-7M | $-7M | · | $-5M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $95M | $83M | $36M | $24M | $20M | $18M | $28M | $19M | $19M | $16M | · | $31M | $23M | $8M | · | $14M | |
| Short-term Investments | $17M | $19M | $6M | $12M | $10M | $4M | $6M | $6M | $2M | $2M | · | $1M | $11M | $30M | · | $39M | |
| Receivables | $34M | $28M | $26M | $31M | $28M | $26M | $24M | $25M | $25M | $24M | · | $23M | $22M | $22M | · | $21M | |
| Inventory | $47M | $46M | $42M | $41M | $37M | $36M | $33M | $29M | $28M | $28M | · | $23M | $21M | $20M | · | $19M | |
| Prepaid Expense | $6M | $7M | $6M | $3M | $3M | $3M | $2M | $2M | $2M | $3M | · | $3M | $3M | $2M | · | $3M | |
| Current Assets | $200M | $185M | $120M | $114M | $103M | $93M | $99M | $86M | $82M | $79M | · | $87M | $86M | $89M | · | $102M | |
| Intangibles | $8M | $7M | $7M | $6M | $6M | $6M | $6M | $5M | $5M | $5M | · | $4M | $4M | $4M | · | $3M | |
| Other Non-current Assets | $729.0K | $192.0K | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Total Assets | $305M | $289M | $222M | $216M | $205M | $196M | $204M | $192M | $189M | $187M | · | $195M | $192M | $189M | · | $196M | |
| Accounts Payable | $28M | $24M | $3M | $26M | $23M | $20M | $8M | $21M | $22M | $21M | · | $26M | $23M | $20M | · | $22M | |
| Current Liabilities | $30M | $26M | $24M | $28M | $25M | $22M | $31M | $23M | $23M | $23M | · | $27M | $24M | $21M | · | $24M | |
| Capital Leases | $18M | $18M | $17M | $17M | $18M | $19M | $19M | $20M | $20M | $21M | · | $20M | $20M | $20M | · | $21M | |
| Other Non-current Liabilities | $141.0K | $140.0K | $141.0K | $141.0K | $141.0K | $141.0K | $94.0K | $94.0K | $94.0K | · | · | · | · | · | · | · | |
| Total Liabilities | $49M | $45M | $93M | $96M | $93M | $91M | $100M | $93M | $93M | $93M | · | $97M | $94M | $92M | · | $94M | |
| Long-term Debt | · | · | $48M | $48M | $48M | $48M | $47M | $47M | $47M | $47M | · | $46M | $46M | $46M | · | $45M | |
| Total Debt | $0 | $0 | · | $48M | $48M | $48M | · | $47M | $47M | $47M | · | $46M | $46M | $46M | · | $45M | |
| Common Stock | $537.0K | $532.0K | $472.0K | $461.0K | $457.0K | $455.0K | $441.0K | $440.0K | $438.0K | $437.0K | · | $430.0K | $430.0K | $428.0K | · | $423.0K | |
| Retained Earnings | $-328M | $-327M | $-307M | $-294M | $-295M | $-295M | $-291M | $-292M | $-290M | $-288M | · | $-277M | $-273M | $-267M | · | $-254M | |
| Stockholders' Equity | $256M | $245M | $129M | $121M | $112M | $105M | $104M | $99M | $96M | $93M | $96M | $98M | $97M | $98M | $101M | $101M | |
| Liabilities + Equity | $305M | $289M | $222M | $216M | $205M | $196M | $204M | $192M | $189M | $187M | · | $195M | $192M | $189M | · | $196M | |
| Shares Outstanding | 53,656,293 | 53,153,471 | 47,199,797 | 46,117,283 | 45,765,290 | 45,512,623 | 44,148,836 | 44,002,323 | 43,824,738 | 43,687,729 | 43,124,496 | 43,039,399 | 42,979,541 | 42,809,994 | 42,445,000 | 42,272,223 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $797.0K | $709.0K | $645.0K | $764.0K | |
| Stock-based Comp | $9M | $7M | $17M | $5M | $5M | $3M | $3M | $5M | $4M | $4M | $1M | $5M | $5M | $3M | $4M | $4M | |
| Amort. of Intangibles | $111.0K | $101.0K | $94.0K | $88.0K | $66.0K | $67.0K | $64.0K | $65.0K | $76.0K | $62.0K | $59.0K | $70.0K | $73.0K | $71.0K | $67.0K | $66.0K | |
| Other Non-cash | · | $13M | · | · | · | $-14M | · | · | · | $-11M | · | · | · | $-4M | · | · | |
| Operating Cash Flow | $7M | $2M | $3M | $3M | $8M | $-13M | $9M | $4M | $4M | $-12M | $-211.0K | $2M | $292.0K | $-7M | $1M | $-689.0K | |
| CapEx | $893.0K | $3M | $1M | $2M | $722.0K | $256.0K | $670.0K | $597.0K | $910.0K | $924.0K | $1M | $4M | $4M | $4M | $7M | $4M | |
| Investing Cash Flow | $500.0K | $-16M | $4M | $-4M | $-7M | $1M | $-813.0K | $-5M | $-1M | $-3M | $-277.0K | $6M | $14M | $-786.0K | $-1M | $3M | |
| Debt Issued | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Net Debt Issued | · | $-49M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Stock Issued | $0 | $134M | · | · | $0 | $0 | · | · | · | · | · | · | · | · | · | · | |
| Net Stock Activity | · | $134M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $4M | $60M | $5M | $2M | $1M | $2M | $970.0K | $572.0K | $544.0K | $204.0K | $418.0K | $5.0K | $898.0K | $633.0K | $813.0K | $215.0K | |
| Net Change in Cash | $12M | $45M | $12M | $2M | $2M | $-9M | $9M | $-527.0K | $3M | $-15M | $-70.0K | $8M | $16M | $-8M | $966.0K | $2M | |
| Free Cash Flow | · | $-1M | · | · | · | $-13M | · | · | · | $-13M | · | · | · | $-12M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 72.7% | 75.2% | · | 76.5% | 74.2% | 71.9% | · | 74.9% | 73.8% | 78.8% | · | 80.5% | 81.1% | 81.7% | · | 83.3% | |
| Operating Margin | -3.1% | -4.6% | · | 3.2% | 2.9% | -3.4% | · | -0.65% | -0.89% | -11.0% | · | -9.8% | -18.1% | -20.0% | · | -13.1% | |
| Net Margin | -2.2% | -31.9% | · | 1.2% | 1.0% | -7.9% | · | -3.8% | -4.0% | -16.0% | · | -9.9% | -17.5% | -19.3% | · | -11.7% | |
| EBITDA Margin | -3.1% | -2.0% | · | 3.2% | 2.9% | 0.14% | · | -0.65% | -0.89% | -7.3% | · | -9.8% | -18.1% | -18.1% | · | -13.1% | |
| ROA | -0.59% | -8.1% | · | 0.35% | 0.29% | -2.0% | · | -0.96% | -1.0% | -3.5% | · | -2.1% | -3.4% | -3.6% | · | -2.1% | |
| ROE | -0.82% | -11.2% | · | 0.64% | 0.56% | -3.9% | · | -1.9% | -2.0% | -7.0% | · | -4.1% | -6.7% | -7.0% | · | -4.0% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 6.6 | 7.1 | · | 4.1 | 4.1 | 4.3 | · | 3.7 | 3.5 | 3.4 | · | 3.3 | 3.6 | 4.2 | · | 4.4 | |
| Quick Ratio | 4.8 | 5.0 | · | 2.4 | 2.3 | 2.2 | · | 2.1 | 2.0 | 1.8 | · | 2.1 | 2.3 | 2.8 | · | 3.2 | |
| Debt / Equity | 0.0 | 0.0 | · | 0.4 | 0.4 | 0.5 | · | 0.5 | 0.5 | 0.5 | · | 0.5 | 0.5 | 0.5 | · | 0.4 | |
| LT Debt / Equity | 0.0 | 0.0 | · | 0.4 | 0.4 | 0.5 | · | 0.5 | 0.5 | 0.5 | · | 0.5 | 0.5 | 0.5 | · | 0.4 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -2.0 | · | -4.9 | -46.6 | -458.8 | · | -79.6 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | |
| Inventory Turnover | 0.5 | 0.4 | · | 0.4 | 0.5 | 0.4 | · | 0.5 | 0.5 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | |
| Receivables Turnover | 2.2 | 2.3 | · | 2.2 | 2.1 | 1.9 | · | 2.0 | 2.1 | 1.8 | · | 1.8 | 1.8 | 1.8 | · | 1.9 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $4.78 | $4.61 | · | $2.62 | $2.45 | $2.32 | · | $2.26 | $2.18 | $2.13 | · | $2.27 | $2.26 | $2.28 | · | $2.40 | |
| Revenue / Share | $1.31 | $1.19 | · | $1.22 | $1.18 | $1.07 | · | $1.11 | $1.10 | $0.96 | · | $0.96 | $0.89 | $0.86 | · | $0.88 | |
| Cash Flow / Share | · | $0.03 | · | · | · | $-0.29 | · | · | · | $-0.28 | · | · | · | $-0.17 | · | · | |
| Cash / Share | $1.76 | $1.55 | · | $0.52 | $0.44 | $0.40 | · | $0.42 | $0.44 | $0.36 | · | $0.72 | $0.54 | $0.18 | · | $0.34 | |
| EPS (TTM) | $-0.68 | $-0.64 | · | $-0.06 | $-0.11 | $-0.16 | · | $-0.31 | $-0.37 | $-0.49 | · | $-0.57 | $-0.57 | $-0.59 | · | $-0.68 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $251M | $238M | · | $215M | $203M | $195M | · | $181M | $173M | $164M | · | $152M | $148M | $144M | · | $134M | |
| Net Income TTM | $-34M | $-31M | · | $-2M | $-5M | $-7M | · | $-14M | $-17M | $-21M | · | $-23M | $-23M | $-25M | · | $-29M | |
| Market Cap | $2.48B | $1.76B | · | $823M | $497M | $842M | · | $617M | $317M | $353M | · | $215M | $392M | $405M | · | $504M | |
| Enterprise Value | $2.37B | $1.66B | · | $835M | $515M | $868M | · | $640M | $343M | $382M | · | $229M | $404M | $413M | · | $496M | |
| P/E | -67.9 | -51.8 | · | -297.3 | -98.6 | -115.6 | · | -45.2 | -19.6 | -16.5 | · | -8.8 | -16.0 | -16.0 | · | -17.5 | |
| P/S | 9.9 | 7.4 | · | 3.8 | 2.4 | 4.3 | · | 3.4 | 1.8 | 2.2 | · | 1.4 | 2.7 | 2.8 | · | 3.8 | |
| P/B | 9.7 | 7.2 | · | 6.8 | 4.4 | 8.0 | · | 6.2 | 3.3 | 3.8 | · | 2.2 | 4.0 | 4.1 | · | 5.0 | |
| P / Tangible Book | 10.0 | 7.4 | · | 7.2 | 4.7 | 8.5 | · | 6.5 | 3.5 | 4.0 | · | 2.3 | 4.2 | 4.3 | · | 5.1 | |
| P / Cash Flow | · | 1125.2 | · | · | · | -63.9 | · | · | · | -28.7 | · | · | · | -54.5 | · | · | |
| EV / Revenue | 9.4 | 7.0 | · | 3.9 | 2.5 | 4.5 | · | 3.5 | 2.0 | 2.3 | · | 1.5 | 2.7 | 2.9 | · | 3.7 | |
| Earnings Yield | -1.5% | -1.9% | · | -0.34% | -1.0% | -0.86% | · | -2.2% | -5.1% | -6.1% | · | -11.4% | -6.2% | -6.2% | · | -5.7% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $225M | $187M | $159M | $139M | $127M |
| Gross Margin % | 74.3% | 75.8% | 80.4% | · | 82.0% |
| Operating Margin % | -3.5% | -1.8% | -13.5% | · | -20.0% |
| Net Income | $-16M | $-10M | $-22M | $-29M | $-27M |
| Diluted EPS | $-0.34 | $-0.23 | $-0.51 | $-0.69 | $-0.65 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | 0.4 | 0.5 | 0.5 | · | 0.4 |
| Current Ratio | 5.1 | 3.2 | 2.9 | · | 5.2 |
| Quick Ratio | 2.9 | 1.9 | 1.8 | · | 4.2 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-3M | $1M | $-20M | · | $-41M |
Institutional owners (13F) 267 filers · $2.4B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
267
Value held
$2.4B
New positions
51
Exited positions
18
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 51 (0 vs prior Q) | 18 (-9 vs prior Q) | 107 (+23 vs prior Q) | 66 (+5 vs prior Q) | +763K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BlackRock, Inc. | $204,123,219 | 4,419,208 | 8.42% | Shares |
| First Light Asset Management, LLC | $126,946,795 | 2,748,361 | 5.24% | Shares |
| MORGAN STANLEY | $126,926,611 | 2,747,924 | 5.24% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $104,294,618 | 2,257,948 | 4.30% | Shares |
| VANGUARD GROUP INC | $93,933,627 | 2,869,955 | 3.87% | Shares |
| Polar Capital Holdings Plc | $69,322,968 | 1,500,822 | 2.86% | Shares |
| Artemis Investment Management LLP | $64,517,822 | 1,396,792 | 2.66% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $64,280,499 | 1,391,654 | 2.65% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $63,535,874 | 1,375,240 | 2.62% | Shares |
| CITADEL ADVISORS LLC | $62,856,784 | 1,360,831 | 2.59% | Shares |
| WASATCH ADVISORS LP | $61,534,006 | 1,857,350 | 2.54% | Shares |
| GOLDMAN SACHS GROUP INC | $58,269,562 | 1,261,519 | 2.40% | Shares |
| STATE STREET CORP | $57,590,662 | 1,246,821 | 2.38% | Shares |
| FMR LLC | $56,484,070 | 1,222,864 | 2.33% | Shares |
| Hood River Capital Management LLC | $49,288,056 | 1,067,072 | 2.03% | Shares |
| Assenagon Asset Management S.A. | $48,206,194 | 1,043,650 | 1.99% | Shares |
| RTW INVESTMENTS, LP | $46,724,695 | 1,011,576 | 1.93% | Shares |
| NEXT CENTURY GROWTH INVESTORS LLC | $40,302,899 | 872,546 | 1.66% | Shares |
| UBS Group AG | $38,624,494 | 836,209 | 1.59% | Shares |
| ARMISTICE CAPITAL, LLC | $35,797,250 | 775,000 | 1.48% | Shares |
| BAMCO INC /NY/ | $34,190,300 | 740,210 | 1.41% | Shares |
| ArrowMark Colorado Holdings LLC | $32,877,811 | 711,795 | 1.36% | Shares |
| Driehaus Capital Management LLC | $32,667,138 | 707,234 | 1.35% | Shares |
| DEUTSCHE BANK AG\ | $30,105,903 | 651,784 | 1.24% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $26,710,060 | 578,265 | 1.10% | Shares |
| Nuveen, LLC | $25,214,753 | 545,892 | 1.04% | Shares |
| Holocene Advisors, LP | $24,793,175 | 536,765 | 1.02% | Shares |
| NORTHERN TRUST CORP | $22,151,477 | 479,573 | 0.91% | Shares |
| Capricorn Fund Managers Ltd | $21,472,022 | 464,863 | 0.89% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $21,058,000 | 455,900 | 0.87% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $20,463,325 | 443,025 | 0.84% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $20,393,809 | 441,520 | 0.84% | Shares |
| TimesSquare Capital Management, LLC | $19,061,809 | 575,364 | 0.79% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $18,996,822 | 411,361 | 0.78% | Shares |
| OBERWEIS ASSET MANAGEMENT INC/ | $17,930,681 | 388,194 | 0.74% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $17,848,878 | 386,423 | 0.74% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $17,492,107 | 378,699 | 0.72% | Shares |
| FRED ALGER MANAGEMENT, LLC | $16,232,967 | 351,439 | 0.67% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $16,071,903 | 347,952 | 0.66% | Shares |
| HighMark Wealth Management LLC | $15,768,804 | 341,390 | 0.65% | Shares |
| First Eagle Investment Management, LLC | $15,754,346 | 341,077 | 0.65% | Shares |
| RAYMOND JAMES FINANCIAL INC | $15,550,371 | 336,662 | 0.64% | Shares |
| WCM INVESTMENT MANAGEMENT, LLC | $15,075,067 | 337,099 | 0.62% | Shares |
| TWO SIGMA INVESTMENTS, LP | $14,743,987 | 319,203 | 0.61% | Shares |
| BANK OF AMERICA CORP /DE/ | $14,475,899 | 313,399 | 0.60% | Shares |
| MARSHALL WACE, LLP | $13,778,523 | 298,301 | 0.57% | Shares |
| NZS Capital, LLC | $12,848,672 | 278,170 | 0.53% | Shares |
| D. E. Shaw & Co., Inc. | $12,828,718 | 277,738 | 0.53% | Shares |
| FIRST TRUST ADVISORS LP | $12,525,065 | 271,164 | 0.52% | Shares |
| Stephens Investment Management Group LLC | $11,958,822 | 258,905 | 0.49% | Shares |
Activists & 5%+ owners 7 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| CHP II, L.P., CHP II Management, LLC, John K. Clarke, Brandon H. Hull, John J. Park ×2 filings | Feb. 4, 2016 | · | Initial filing | · | SEC |
| Utility Service Holding Company, Inc. | Aug. 21, 2014 | · | Initial filing | · | SEC |
| PDL BioPharma, Inc. | Aug. 19, 2013 | · | Initial filing | Passive investment | SEC |
| De Novo Ventures II, L.P., De Novo Management II, LLC | Oct. 11, 2011 | · | Initial filing | Passive investment | SEC |
| Ramanathan Periakaruppan | July 8, 2010 | · | Initial filing | Passive investment | SEC |
| Sanford M. Brink, Linda Kay Brink | July 10, 2009 | · | Initial filing | · | SEC |
| Larry Hopfenspirger | April 3, 2009 | · | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 53 insiders · 26 officers · 22 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| DALE MICHAEL D | Chief Executive Officer | Feb. 26, 2026 A | 63,537 | 0 | 2 | $-2,668,260 |
| Karen L. Zaderej | CEO | March 16, 2024 M | 1,143,788 | 0 | 0 | $0 |
| Timothy P Fitzgerald | CEO & President | March 12, 2004 A | · | 0 | 0 | $0 |
| Lindsey Marie Hartley | CFO | May 7, 2026 M | 65,146 | 0 | 5 | $-942,236 |
| Nir Naor | CFO | Jan. 6, 2025 F | 260,868 | 0 | 0 | $0 |
| Peter J Mariani | EVP & Chief Financial Officer | Dec. 11, 2023 S | 63,603 | 0 | 0 | $0 |
| Doris Quackenbush | Sales VP | May 7, 2026 S | 92,416 | 0 | 1 | $-168,732 |
| Jens Kemp | Chief Marketing Officer | May 7, 2026 S | 72,451 | 0 | 2 | $-428,309 |
| Erick Wayne Devinney | Chief Innovation Officer | March 16, 2026 M | 262,781 | 0 | 2 | $-780,584 |
| Angelo Scopelianos | Chief R&D Officer | March 16, 2024 M | 57,994 | 0 | 0 | $0 |
| Donovan Michael Patrick | VP Operations | March 16, 2024 M | 54,250 | 0 | 0 | $0 |
| Maria D. Martinez | Chief Human Resources Officer | Oct. 13, 2023 D | 30,476 | 0 | 0 | $0 |
| Bradley Ottinger | General Counsel and CCO | March 16, 2023 M | 23,627 | 0 | 0 | $0 |
| Isabelle Billet | Chief Strategy and BD Officer | Dec. 27, 2022 M | 25,065 | 0 | 0 | $0 |
| Eric Sandberg | Chief Commercial Officer | July 19, 2022 D | 16,081 | 0 | 0 | $0 |
| Mark Louis Friedman | VP Regulatory Affairs & Policy | March 16, 2022 A | 24,343 | 0 | 0 | $0 |
| David K Hansen | VP Finance & Treasurer | May 13, 2019 S | 25,588 | 0 | 0 | $0 |
| Jon S. Gingrich | Chief Commercial Officer | Feb. 15, 2019 F | 4,190 | 0 | 0 | $0 |
| Shawn F Mccarrey | SVP Sales | Aug. 7, 2018 M | 82,921 | 0 | 0 | $0 |
| Kevin Leach | Vice President Marketing | Dec. 18, 2017 A | 2,000 | 0 | 0 | $0 |
| John P Engels | VP | Oct. 7, 2016 P | 98,425 | 0 | 0 | $0 |
| Lee Robert Johnston Jr | Chief Finacial Officer | June 2, 2015 P | 25,000 | 0 | 0 | $0 |
| Jill F Schiaparelli | Chief Marketing Officer | Dec. 29, 2014 A | 12,750 | 0 | 0 | $0 |
| Bradley Jay Hedger | Vice President, Sales | Dec. 16, 2011 A | · | 0 | 0 | $0 |
| John D Legray | V.P.-Qual. Assur. & Reg. Aff. | March 12, 2004 A | · | 0 | 0 | $0 |
| Timothy R J Quinn | VP, Genl Mgr-Consumer Products | Jan. 24, 2004 J | · | 0 | 0 | $0 |
| Joseph A. Tyndall | Director | Sept. 2, 2026 S | 10,650 | 0 | 3 | $-951,796 |
| Alan M Levine | Director | June 24, 2026 A | 50,893 | 0 | 0 | $0 |
| William P. Mr. Burke | Director | June 24, 2026 A | 14,250 | 0 | 13 | $-2,821,521 |
| John Johnson | Director | June 24, 2026 A | 14,150 | 0 | 5 | $-1,868,337 |
| Paul Thomas | Director | June 24, 2026 A | 32,395 | 0 | 1 | $-633,624 |
| Guido J Neels | Director | June 9, 2025 S | 86,743 | 0 | 0 | $0 |
| Gregory Gene Freitag | Director | June 4, 2024 M | 283,498 | 0 | 0 | $0 |
| Mark Stephen Gold | Director | June 1, 2022 A | 305,475 | 0 | 0 | $0 |
| Quentin S. Blackford | Director | March 30, 2022 M | 27,335 | 0 | 0 | $0 |
| Jamie Mark Grooms | Director | Sept. 20, 2018 M | 18,693 | 0 | 0 | $0 |
| Lisa N Colleran | Director | July 9, 2018 A | · | 0 | 0 | $0 |
| Joseph M Mandato | Director | Aug. 9, 2016 S | 1,226,773 | 0 | 0 | $0 |
| John Frederick Harper | Director | Jan. 2, 2015 A | 214,094 | 0 | 0 | $0 |
| Elmer Salovich | Director | Feb. 18, 2011 A | · | 0 | 0 | $0 |
| Lowell Waldo Hellervik | Director | Jan. 26, 2011 A | · | 0 | 0 | $0 |
| Kevin Christopher Worms-Lynch | Director | Nov. 1, 2010 A | · | 0 | 0 | $0 |
| Timothy Michael Heaney | Director | Nov. 1, 2010 A | · | 0 | 0 | $0 |
| Sanford M Brink | Director | Nov. 1, 2010 A | · | 0 | 0 | $0 |
| Andrew C Rollwagen | Director | Sept. 26, 2008 A | · | 0 | 0 | $0 |
| Daniel C Sigg | Director | Sept. 26, 2008 A | · | 0 | 0 | $0 |
| Judd A Berlin | Director | Sept. 26, 2008 A | · | 0 | 0 | $0 |
| Essex Woodlands Fund IX, L.P. | 10% owner | Nov. 20, 2017 S | 3,711,111 | 0 | 0 | $0 |
| Larry Hopfenspirger | 10% owner | Sept. 28, 2011 P | 426,066 | 0 | 0 | $0 |
| Amy Mcbride Wendell | · | Aug. 11, 2026 M | 107,976 | 0 | 5 | $-1,997,092 |
| Marc A Began | · | Aug. 10, 2026 M | 50,135 | 0 | 3 | $-3,881,676 |
| Kathy Johnson Weiler | · | Aug. 7, 2026 S | 0 | 0 | 5 | $-2,740,198 |
| Robert James Rudelius | · | Sept. 3, 2020 A | 48,183 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 35 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| IBRN · iShares Trust | 2.27% | 4,054 SH | Sept. 11, 2026 | Daily |
| PTH · Invesco Exchange-Traded Fund Trust | 2.19% | 158,276 SH | Oct. 2, 2026 | Daily |
| HTEC · EXCHANGE TRADED CONCEPTS TRUST | 1.77% | 28,991 NS | July 31, 2026 | N-PORT |
| FYC · First Trust Exchange-Traded AlphaDE… | 0.49% | 151,989 NS | July 31, 2026 | N-PORT |
| SAWS · ETF Series Solutions | 0.47% | 877 NS | July 31, 2026 | N-PORT |
| DWAS · Invesco Exchange-Traded Fund Trust … | 0.41% | 41,834 SH | Oct. 2, 2026 | Daily |
| IHI · iShares Trust | 0.34% | 254,705 SH | Sept. 11, 2026 | Daily |
| ESSC · Strategy Shares | 0.27% | 2,271 NS | July 31, 2026 | N-PORT |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.17% | 56,658 NS | July 31, 2026 | N-PORT |
| NUSC · Nushares ETF Trust | 0.16% | 47,431 NS | July 31, 2026 | N-PORT |
| VFMO · VANGUARD WELLINGTON FUND | 0.15% | 65,979 SH | Aug. 19, 2026 | Daily |
| IWO · iShares Trust | 0.14% | 493,504 SH | Sept. 11, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.14% | 56,448 SH | Aug. 19, 2026 | Daily |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.10% | 13,770 NS | July 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.07% | 1,348,635 SH | Sept. 11, 2026 | Daily |
| RSSL · Global X Funds | 0.07% | 25,203 NS | July 31, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.07% | 303,149 SH | Aug. 19, 2026 | Daily |
| ISCG · iShares Trust | 0.07% | 15,992 SH | Sept. 11, 2026 | Daily |
| ESML · iShares Trust | 0.05% | 31,309 SH | Sept. 11, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.04% | 147,823 NS | July 31, 2026 | N-PORT |
| FHLC · FIDELITY COVINGTON TRUST | 0.03% | 23,427 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.03% | 609,572 SH | Aug. 19, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.03% | 148,329 SH | Aug. 19, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.02% | 14,924 SH | Oct. 2, 2026 | Daily |
| WSML · iShares Trust | 0.02% | 2,945 SH | Sept. 11, 2026 | Daily |
| DFSU · Dimensional ETF Trust | 0.00% | 2,496 NS | July 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 73,165 SH | Sept. 11, 2026 | Daily |
| DFUS · Dimensional ETF Trust | 0.00% | 15,118 NS | July 31, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 11,272 SH | Sept. 11, 2026 | Daily |
| DFAU · Dimensional ETF Trust | 0.00% | 5,335 NS | July 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 13,881 NS | July 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 918 NS | July 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,596,639 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 4,360 SH | Aug. 19, 2026 | Daily |
| ISCB · iShares Trust | · | 2,291 SH | Sept. 11, 2026 | Daily |
AXGN Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 16 analysts
BUY
Median target
$54.00
+44.4%
4 25.0%
Strong Buy
11 68.8%
Buy
1 6.2%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
10 analysts · 2026-10-02Mean target $53.70 +43.6%
← Below all targets
Current price $37.39
Low$48.00
Mean$53.70
High$58.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| AXGN | $1.54B | -96.3 | 20.2% | -7.0% | -13.0% | 74.3% |
| ASST | · | -0.1 | 1217.5% | · | · | · |
| CHRN | $2.67B | -51.0 | -15.1% | -70.3% | -53.2% | · |
| TMDX | $4.17B | 25.0 | 37.1% | 31.4% | 48.1% | 59.9% |
| ATRC | $1.97B | -164.8 | 14.9% | -2.1% | -2.4% | 75.0% |
| BFLY | · | -12.3 | 19.0% | -79.0% | -35.9% | 46.9% |
| INSP | $2.64B | 18.9 | 13.6% | 16.0% | 19.9% | 85.4% |
| LMAT | $1.85B | 32.2 | 13.5% | 23.1% | 15.3% | 71.5% |
| KMTS | $1.21B | -8.5 | 59.0% | -138.4% | -62.1% | 51.4% |
| OMCL | $2.04B | 1132.5 | 6.5% | 0.17% | 0.16% | 42.5% |
| ATEC | $3.16B | -21.9 | 24.9% | -18.8% | -792.1% | 69.6% |
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Source: SEC 10-Q filed Jul 29, 2026