What is Axogen's operating margin?

Axogen (AXGN) reported operating margin of -3.8% in Q1 2026.

What is the long-term trend for Axogen's operating margin?

Over 4 years (2020 to 2025), Axogen's operating margin has grown at a -35.9% compound annual growth rate (CAGR), from -20.6% to -3.5%.

What does operating margin mean?

Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

Axogen AXGN Operating margin

Operating margin at other companies

Baxter InternationalBAX

-2.7%—

StrykerSYK

19.7%+4.4pp

LeMaitre VascularLMAT

28.5%+5.1pp

MedtronicMDT

17.8%0.0pp

Other financials

Income statement

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Revenue$61.5M+26.6%

Gross profit$46.2M+32.2%

Operating income-$2.8M-70.5%

Net income-$19.6M-411%

EPS (diluted)-$0.38-375%

Balance sheet

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Cash & equivalents$84.7M+251%

Total debt$20.6M-69.8%

Total equity$244.8M+132%

Total assets$289.5M+47.6%

Cash flow

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Operating cash flow$1.6M+112%

CapEx$2.8M+989%

Free cash flow-$1.2M+90.9%

Valuation

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Market cap$2.38B+110%

Enterprise value$2.31B+91.4%

P/S10×+4.2×

Profitability

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Gross margin75%+0.8pp

Net margin-13.2%-22.8pp

FCF margin-12.9%-3.8pp

Returns & leverage

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Return on equity-18%-70.5pp

Debt / equity0.1×-0.6×

Current ratio7.1×+2.8×

Where this comes from

Calculated from Axogen’s reported figures.

operating income/total revenue=-3.8%

Based on trailing twelve months.

The official record: Axogen’s 10-Q, filed April 28, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Axogen's operating margin?: Axogen (AXGN) reported operating margin of -3.8% in Q1 2026.
What is the long-term trend for Axogen's operating margin?: Over 4 years (2020 to 2025), Axogen's operating margin has grown at a -35.9% compound annual growth rate (CAGR), from -20.6% to -3.5%.
What does operating margin mean?: Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.