Axogen Maintains FY23 Revenue Guidance $154M-$159M
Portfolio Pulse from Benzinga Newsdesk
Axogen has maintained its FY23 revenue guidance in the range of $154M-$159M, representing an annual growth of 11%-15%. However, the company expects a reduction in gross margin due to the transition to a new processing facility in Q3 and Q4, with full year 2023 gross margins projected at around 80%.
August 07, 2023 | 9:01 pm
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Axogen's FY23 revenue guidance remains unchanged, but gross margins are expected to decrease due to a transition to a new processing facility.
Axogen's revenue guidance for FY23 is positive, indicating expected growth. However, the anticipated reduction in gross margins due to the transition to a new processing facility could impact profitability, potentially offsetting the positive revenue outlook. This creates a neutral short-term impact on the stock.
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