- Axogen ( NASDAQ: AXGN ) reported Monday preliminary estimates for its second quarter with revenue up 2% Y/Y to $34.4M vs. consensus of $33.29M
- The growth in revenue is expected to be 8% when excluding the impact of $1.8M revenue of Avive Soft Tissue Membrane in the second quarter of 2021.
- The surgical solutions has reaffirmed its annual 2022 guidance of revenue to the range of $135-$142M vs. market consensus of $138.87M.
- In addition, the company told its current chief commercial officer Eric Sandberg will be leaving the organization effective July 19, 2022.
- “We are pleased with our performance in the second quarter, and we are encouraged by the strong underlying demand for our products. I would like to thank Eric and wish him well in his future endeavors,” said CEO Karen Zaderej.
- "We have a robust clinical portfolio, which was recently bolstered by the positive top-line results of our RECON study. We plan to leverage this data to drive increased surgeon engagement and adoption, while also supporting an accelerating pace of innovation of advanced nerve repair solutions,” Zaderej added.
- Final results are scheduled to be released on Aug. 3, 2022.
- Stock is up 0.5% in after hours trading.
- Earlier: Axogen stock rises 9% after Q1 revenue beat, outlook 'on track'
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Axogen estimates Q2 revenue above consensus, reaffirms guidance