Axogen (AXGN) Balance Sheet: Assets & Liabilities

Axogen (AXGN) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Axogen reported total assets of $221.69M and total liabilities of $92.84M. Shareholders' equity was $128.85M, up 24.0% from $103.91M a year earlier. Total debt stood at $67.63M against $35.55M in cash and short-term investments, a net debt position of $32.08M. That puts debt-to-equity at 0.52, compared with 0.48 a year earlier.

Axogen Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Axogen, Inc. (AXGN) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	35.55	27.55	31.02	15.28	32.76	48.77	35.72	24.29	36.51
Short-Term Investments	0.00	5.93	0.00	33.51	51.33	55.20	60.79	92.31	0.00
Cash & Short-Term Investments	35.55	33.48	31.02	48.79	84.09	103.97	96.51	116.61	36.51
Accounts Receivable	26.17	24.11	25.15	22.19	18.16	17.62	16.94	15.32	11.06
Inventory	42.37	33.18	23.02	18.91	16.69	12.53	13.86	11.98	7.32
Other Current Assets	16.33	8.45	2.81	8.20	8.11	4.05	7.71	7.05	1.71
Total Current Assets	120.42	99.22	88.00	98.08	127.05	145.25	135.02	150.95	55.74
Non-Current Assets
Property, Plant & Equipment (Net)	94.52	98.93	104.29	93.66	78.12	54.08	18.11	8.04	2.20
Intangible Assets	6.75	5.58	4.53	3.65	2.86	2.05	1.52	1.18	0.94
Other Non-Current Assets	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Non-Current Assets	101.27	104.51	108.82	97.31	80.98	56.13	19.62	9.22	3.13
Total Assets	221.69	203.73	196.83	195.39	208.02	201.38	154.64	160.17	58.87
Current Liabilities
Accounts Payable	2.89	28.64	11.77	22.44	5.92	4.60	8.26	4.52	3.24
Short-Term Debt	2.37	1.97	1.55	1.31	3.67	0.86	1.74	0.03	6.91
Accrued Liabilities	1.67	20.63	3.18	13.48	6.86	17.37	-	-	-
Deferred Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.02	0.03
Other Current Liabilities	18.30	20.63	17.11	13.48	14.70	17.37	10.87	8.48	9.71
Total Current Liabilities	23.56	30.61	30.43	23.75	24.29	22.83	20.88	13.04	13.72
Non-Current Liabilities
Long-Term Debt	65.26	47.50	46.60	45.71	65.62	34.52	3.19	0.04	19.91
Deferred Tax Liabilities	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.16
Other Non-Current Liabilities	4.03	2.49	2.99	4.52	5.56	0.00	-1.60	0.07	0.00
Total Non-Current Liabilities	69.28	69.21	70.73	70.64	71.18	55.40	1.61	0.15	19.97
Total Liabilities	92.84	99.82	101.16	94.39	95.47	78.23	22.49	13.19	33.69
Stockholders' Equity
Common Stock	0.47	0.44	0.43	0.42	0.42	0.41	0.40	0.39	0.34
Retained Earnings	-306.96	-291.26	-281.30	-259.58	-230.63	-203.65	-179.86	-150.73	-128.33
Accumulated Other Comprehensive Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-2.86	-2.29
Additional Paid-in Capital	435.34	394.73	376.53	360.16	342.77	326.39	311.62	297.32	153.17
Shares Outstanding	47.20	44.15	43.12	42.45	41.74	-	-	-	-
Total Stockholders' Equity	128.85	103.91	95.67	101.00	112.55	123.15	132.15	146.98	25.18
Total Liabilities & Equity	221.69	203.73	196.83	195.39	208.02	201.38	154.64	160.17	58.87

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Axogen Balance Sheet

How much debt does Axogen have?

Axogen had total debt of $67.63M as of Dec 31, 2025, against $35.55M in cash and short-term investments. Its debt-to-equity ratio was 0.52. Total debt was $49.47M a year earlier.

What are Axogen's total assets?

Axogen reported total assets of $221.69M as of Dec 31, 2025, up 8.8% from $203.73M a year earlier. Total liabilities were $92.84M.

What is Axogen's shareholders' equity?

Axogen's shareholders' equity was $128.85M as of Dec 31, 2025, or about $2.73 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition