On October 28, 2026, Axogen, Inc. (NASDAQ: AXGN) reported its third quarter 2026 financial results and provided updated guidance for the full year. The company reported revenue of $75.8 million for the third quarter, an increase of 26.2% compared to the same period in 2025. Net income for the quarter was $2.3 million, or $0.04 per share, compared to $0.7 million, or $0.01 per share, in the prior year.
Axogen raised its full-year 2026 revenue guidance to at least $290 million, representing growth of at least 29%. This guidance includes at least $7 million in revenue from the recently completed BioCircuit acquisition. Excluding BioCircuit, the company expects organic revenue to be at least $283 million, representing growth of at least 26%. The company also expects gross margin to be at least 73% and positive free cash flow for the full year.
In other business developments, Axogen completed the acquisition of BioCircuit Technologies, Inc. on October 1, 2026. The company raised capital through an upsized public offering, selling 5,646,500 shares of common stock and receiving $225 million in net proceeds. Of these proceeds, $200 million was used to fund the BioCircuit acquisition, $1.9 million was used for transaction expenses, and the remainder was retained for general corporate purposes.
As of September 30, 2026, the company reported cash and cash equivalents, restricted cash, and investments totaling $350.1 million. This represents a significant increase from $113.4 million as of June 30, 2026. Axogen management also announced plans to initiate market development for the Prostate segment beginning in 2027.
