EarningsQ2 2026 Earnings Report
DE:LT3 Q2 2026 EPS Results
Actual EPS€0.11
Consensus EPS€0.11
Beat/MissMissed by -<€0.01
One Year Ago EPS€0.11
DE:LT3 Q2 2026 Revenue Results
Actual Revenue€62.24M
Expected Revenue€59.89M
Beat/MissBeat by +€2.35M
YoY Revenue Growth+23.06%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeBefore Open
Conference CallWednesday, July 29, 2026
DE:LT3 Upcoming Earnings
AxoGen's next earnings date is estimated for November 10, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:LT3 Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented strong operational and commercial momentum: robust revenue growth (Q2 +23.1%), a pronounced acceleration in the Breast market (YTD +47%) that materially expanded Avance volume and adoption, growing active surgeon and account metrics, cash balance strength and raised revenue guidance. Offsetting this optimism are near-term margin pressures driven by an accelerated shift in product mix toward longer, higher-cost Avance grafts, increased operating expenses tied to commercial investment, and pending payer decisions (notably Aetna) that could further accelerate adoption but remain unquantified. Management outlined actionable plans (pricing and production efficiency initiatives) but emphasized these will take time to influence 2026 results. Overall, positives (strong top-line, guidance raise, evidence progress, healthy cash position and commercial momentum) outweigh the manageable operational and margin challenges disclosed.Company Guidance
Top-Line Growth
Q2 2026 revenue of $69.7M, up 23.1% year-over-year; full-year 2026 revenue guidance raised to at least $279M, implying at least 24% growth for the year.
Breast Market Acceleration
Breast revenue up ~47% year-to-date, drove approximately two-thirds of Q2 growth; roughly 215 active breast programs (up >40 year-over-year) and ~560 active breast surgeons (up ~150 year-over-year).
Avance Product Momentum
Avance represented 65% of total revenue in Q2 (63% year-to-date), up from ~60% in 2025, reflecting continued strong demand and adoption of the Avance product algorithm.
Commercial Expansion and Productivity
Commercial organization of 172 sales reps, market development managers and regional directors (added 15 YTD). High-potential accounts (690 active) represent 60% of revenue and delivered 51% of growth year-to-date; active surgeon count increased by more than 210 YTD.
Profitability and Cash Position
Adjusted net income of $7.3M and adjusted EBITDA of $8.4M for Q2; cash, cash equivalents, restricted cash and investments totaled $113.4M as of June 30, 2026. Generated $4.1M of free cash flow through the first half and expect to be free cash flow positive for full-year 2026.
Evidence and Clinical Progress
Positive REPOSE randomized study results supporting nerve protection (favorable signals on pain burden, medication reliance and recovery outcomes). RESTORE (Avance vs autograft) activated first U.S. site and is screening patients; Embrace (breast neurotization study) on track for initiation later this year.
Payer Coverage Progress
Commercial payer coverage for Avance at ~86% of U.S. commercial lives; if Aetna issues a favorable decision, management expects near-universal commercial coverage in existing U.S. markets (~95% of commercial lives).
Strategic Investment and R&D
Acquired a minority stake in Trace Biosciences (Nervetrace imaging technology) to complement Axogen's platform and support future clinical imaging capabilities; continued investments in R&D (R&D expense +25.3% YoY) to support evidence generation and innovation.
DE:LT3 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed