AxoGen, Inc. Provides Preliminary Unaudited Earnings Guidance for the Fourth Quarter and Full Year Ended December 31, 2016; Reiterates 2017 Annual Revenue
January 09, 2017 at 07:00 am
AxoGen, Inc. provided preliminary unaudited earnings guidance for the fourth quarter and full year ended December 31, 2016. Fourth quarter revenue is expected to be at least $11.3 million, up 45% compared to the fourth quarter of 2015 revenue of $7.8 million.
Full year 2016 revenue is expected to be at least $41.0 million, up 50% compared to 2015 revenue of $27.3 million. Management increases its full year 2016 revenue guidance to at least $41.0 million from its previous estimate of over $40.0 million. Management reiterates its full year 2016 gross margin guidance to exceed 80%.
Management reiterates 2017 annual revenue will grow at least 40% over 2016 revenue and gross margins will remain above 80%.