$37.39

-2.53 (-6.34%)

Weekly Expected Move ±8.2%

$31 $34 $37 $40 $44

NASDAQ · Healthcare · Medical - Devices · Tech Score Sell · Power 36 · $2.0B mcap · 52M float · 2.35% daily turnover · Short 67% of daily vol

Edge Score

Quantitative competitive moat analysis scoring five pillars of durable advantage — cost leadership, brand intangibles, switching costs, network effects, and efficient scale — using industry percentile rankings on a 0–100 scale.

WEAK EDGE

49.1 / 100

NoneWeakNarrowWide

Primary source: Cost Advantage · ROIC: -5.6% · 5Y Avg: -22.0%

Cost Advantage ★

Intangibles

Switching Cost

Network Effect

Scale

The Edge Score quantifies a company's competitive moat using five pillars: Cost Advantage (20%, operating margin and SG&A efficiency vs industry peers), Intangible Assets (25%, gross margin premium, R&D intensity, brand pricing power), Switching Costs (25%, revenue stability, earnings consistency, customer retention proxied by operating leverage), Network Effects (15%, revenue growth with expanding margins, market share dominance), and Efficient Scale (15%, market concentration, ROIC sustainability). Each pillar is scored 0–100 using industry percentile rankings, then weighted into a composite. Wide ≥ 70, Narrow ≥ 55, Weak ≥ 40, None < 40. AXGN shows a Weak competitive edge (49.1/100) — limited structural advantages that may face competitive pressure. The primary source of advantage is Cost Advantage. Negative ROIC of -5.6% indicates the company is currently destroying value, though this may reflect a growth investment phase.

Analyst Insights

Wall Street analyst consensus based on price targets and buy/sell/hold recommendations from institutional research coverage over the trailing 12 months.

Analyst Price Targets

$53

Low

$55

Avg Target

$60

High

Based on 6 analysts since Jul 29, 2026 earnings

Analyst Recommendations

Strong Buy: 0Buy: 17Hold: 3Sell: 0Strong Sell: 0

Rating Summary

ConsensusBuy

Avg Target$54.83

Analysts6

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-10-01	Truist Financial	Ravi Misra	$60	$53	-7	+26.4%	$41.92
2026-09-25	Raymond James	Jayson Bedford	$48	$53	+5	+22.3%	$43.32
2026-08-26	Truist Financial	—	$55	$60	+5	+20.2%	$49.93
2026-07-30	H.C. Wainwright	Yi Chen	$50	$53	+3	+28.1%	$41.37
2026-07-30	Truist Financial	—	Initiated	$55	—	+32.9%	$41.37
2026-07-29	Jefferies	—	$36	$55	+19	+32.9%	$41.37
2026-04-29	Raymond James	—	$41	$48	+7	+14.9%	$41.79
2026-04-29	Canaccord Genuity	Caitlin Roberts	$45	$50	+5	+19.1%	$41.99
2026-04-29	H.C. Wainwright	—	$39	$50	+11	+19.1%	$41.99
2026-04-24	Canaccord Genuity	—	$37	$45	+8	+20.3%	$37.41
2026-02-23	Raymond James	Jayson Bedford	$36	$41	+5	+17.1%	$35.00
2026-02-19	Wells Fargo	—	Initiated	$40	—	+13.5%	$35.25
2025-12-05	H.C. Wainwright	—	$26	$39	+13	+15.7%	$33.70
2025-12-05	Canaccord Genuity	—	$27	$37	+10	+12.6%	$32.85
2025-12-04	Raymond James	Jayson Bedford	Initiated	$36	—	+8.5%	$33.19
2025-12-04	Lake Street	Frank Takkinen	Initiated	$40	—	+24.6%	$32.10
2025-12-04	Jefferies	—	Initiated	$36	—	+27.1%	$28.33
2025-12-01	Mizuho Securities	—	Initiated	$40	—	+39.6%	$28.65
2025-10-30	H.C. Wainwright	—	$25	$26	+1	+13.7%	$22.86
2025-10-30	Canaccord Genuity	—	Initiated	$27	—	+21.3%	$22.25
2025-10-30	JMP Securities	—	Initiated	$34	—	+52.8%	$22.25
2025-09-30	H.C. Wainwright	Yi Chen	Initiated	$25	—	+44.8%	$17.26

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

D+

Oct 02, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. AXGN receives an overall rating of D+. Areas of concern: DCF (1/5), ROE (1/5), ROA (1/5), D/E (2/5), P/E (1/5), P/B (1/5).

Rating Change History

Date	From	To
2026-10-01	C-	D+
2026-05-04	D+	C-
2026-04-01	C-	D+
2026-02-24	D+	C-
2026-01-13	C-	D+
2026-01-03	D+	C-

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 36 Grade D

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

100

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. AXGN scores highest in Safety (100/100) and lowest in Cash Flow (19/100). A grade of D flags significant fundamental concerns across multiple dimensions.

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

30.17

Safe Zone

Piotroski F-Score

4/9

✗ ✓ ✗ ✓ ✓ ✓ ✗ ✗ ✗

Beneish M-Score

-2.87

Unlikely Manipulator

Ohlson O-Score

-8.51

Bankruptcy prob: 0.0%

Low Risk

Credit Rating

Score: 70.5/100

Trend: Improving

Earnings Quality

—

OCF/NI: -0.28x

Accruals: -16.8%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. AXGN scores 30.17, placing it in the Safe Zone (safe > 2.99, distress < 1.81). Bankruptcy is statistically unlikely within the next two years. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. AXGN scores 4/9, indicating moderate financial health — some areas of strength offset by weaknesses in others. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. AXGN's score of -2.87 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. AXGN's implied 0.0% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. AXGN receives an estimated rating of A (score: 70.5/100), with a improving trend.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

-55.41x

PEG

0.26x

P/S

8.00x

P/B

7.78x

P/FCF

975.35x

P/OCF

264.35x

EV/EBITDA

-161.75x

EV/Revenue

9.51x

EV/EBIT

-110.79x

EV/FCF

945.86x

Earnings Yield

-1.36%

FCF Yield

0.10%

Shareholder Yield

0.00%

Graham Number

—

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. AXGN currently has negative earnings — the P/E ratio is not meaningful.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

1.000

NI / EBT

Interest Burden

1.556

EBT / EBIT

EBIT Margin

-0.086

EBIT / Rev

Asset Turnover

0.984

Rev / Assets

Equity Multiplier

1.385

Assets / Equity

ROE

-18.2%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. AXGN's ROE of -18.2% is driven by Asset Turnover (0.984), indicating efficient use of assets to generate revenue. A tax burden ratio of 1.00 indicates minimal tax leakage — the company retains over 90% of pre-tax earnings.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Two adjustments we make, and why. Growth is capped at 15%. Graham defined g as expected growth over the next seven to ten years, not last year's rate. Across US companies since 1994 the median realized 7-year EPS growth is 5–8% regardless of how fast a company grew beforehand, and of 4,457 company-quarters that grew faster than 200%, none sustained it. Uncapped, the formula assigned fair multiples in the hundreds to companies that had never held that rate — and scored worse than simply reading the P/E. Capped, it carries real information. The verdict has three states, not two. Tested over 377,249 stock-months, this ratio only separates outcomes at its extremes: below 0.25 beat the universe by 1.3 points a year, above 3.0 lagged by 2.7, and everything in between sat inside a one-point band. Rather than call two-thirds of the market "undervalued" on a threshold of 1.0, we say Neutral where the model cannot tell — which is most of the time.

Adj. Growth Rate

0.00%

Fair P/E

8.50x

Intrinsic Value

—

Price/Value

—

Margin of Safety

—

Premium

—

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1800 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$37.39

Median 1Y

$33.73

5th Pctile

$11.89

95th Pctile

$96.91

Ann. Volatility

64.7%

Analyst Target

$54.83

25th–75th percentile 5th–95th percentile Median path Historical Analyst target

Executive Compensation

C-suite compensation breakdown including salary, stock awards, options, and incentive pay. The CEO-to-employee pay ratio and Gini coefficient measure pay distribution fairness.

C-Suite Compensation

Executive	Salary	Stock	Total
Michael Dale CEO and President	$775,865	$7,342,895	$9,047,454
Marc Began GC ecutive Vice President and GC	$439,051	$2,290,750	$3,063,430
Jens Kemp Marketing keting Officer	$395,205	$1,582,700	$2,279,206
Erick DeVinney Innovation vation Officer	$414,607	$1,582,700	$2,261,741
Lindsey Hartley CFO	$395,065	$1,302,420	$1,935,226
Nir Naor Former CFO	$228,186	$—	$271,544

CEO Pay Ratio

40:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $9,047,454

Avg Employee Cost (SGA/emp): $228,805

Employees: 622

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Workforce efficiency metrics measuring revenue, profit, and R&D spend per employee — key indicators of operational leverage and human capital productivity.

Employees

622

+37.6% YoY

Revenue / Employee

$362,071

Rev: $225,208,000

Profit / Employee

$-25,246

NI: $-15,703,000

SGA / Employee

$228,805

Avg labor cost proxy

R&D / Employee

$52,870

Innovation spend

Scaling Efficiency

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
ROE	-23.4%	-22.9%	-28.4%	-28.7%	-26.6%	-27.1%	-24.4%	-23.6%	-23.3%	-22.1%	-22.3%	-17.2%	-14.5%	-10.0%	-7.2%	-4.5%	-1.9%	-13.5%	-18.0%	-18.2%	-18.21%
ROA	-13.7%	-13.2%	-16.1%	-15.6%	-14.2%	-14.4%	-12.7%	-12.1%	-11.9%	-11.1%	-11.3%	-8.7%	-7.4%	-5.0%	-3.7%	-2.4%	-1.0%	-7.4%	-13.0%	-13.1%	-13.15%
ROIC	-21.7%	-20.9%	-22.0%	-21.3%	-19.3%	-19.6%	-16.9%	-15.0%	-14.9%	-12.7%	-10.2%	-6.6%	-4.7%	-1.9%	-0.2%	0.9%	2.0%	-5.5%	-3.9%	-5.6%	-5.58%
ROCE	-13.8%	-13.9%	-17.4%	-17.8%	-16.4%	-16.5%	-14.4%	-13.9%	-13.2%	-11.3%	-9.9%	-5.7%	-3.6%	-1.0%	0.6%	1.8%	7.5%	0.2%	-6.4%	-7.9%	-7.86%
Gross Margin	83.2%	82.8%	82.1%	81.8%	83.3%	83.0%	81.7%	77.7%	76.8%	78.7%	78.8%	73.8%	74.9%	76.1%	71.9%	74.2%	76.6%	74.1%	75.2%	72.7%	72.67%
Operating Margin	-21.4%	-17.0%	-36.5%	-23.0%	-13.1%	-15.5%	-20.0%	-18.1%	-9.8%	-7.4%	-11.0%	-0.9%	-0.6%	4.1%	-3.4%	3.0%	3.2%	-16.3%	-4.6%	-3.1%	-3.09%
Net Margin	-22.9%	-16.8%	-37.0%	-22.5%	-11.7%	-15.0%	-19.3%	-17.5%	-9.9%	-9.1%	-16.0%	-4.0%	-3.8%	0.9%	-7.9%	1.0%	1.2%	-22.0%	-31.9%	-2.2%	-2.17%
EBITDA Margin	-17.8%	-13.4%	-32.0%	-18.2%	-8.1%	-11.7%	-15.9%	-14.3%	-4.5%	-0.5%	-5.8%	4.9%	4.1%	8.4%	0.6%	7.7%	21.1%	-14.2%	-27.3%	-3.1%	-3.09%
FCF Margin	-25.9%	-33.5%	-35.1%	-35.4%	-30.2%	-26.1%	-22.0%	-17.7%	-15.4%	-12.7%	-13.4%	-8.6%	-5.5%	0.0%	0.1%	2.1%	1.3%	-1.5%	3.8%	1.0%	1.01%
OCF Margin	-7.1%	-10.5%	-10.7%	-14.5%	-14.1%	-11.6%	-8.6%	-4.4%	-2.7%	-3.6%	-6.4%	-3.9%	-2.4%	2.4%	1.9%	3.5%	3.0%	0.4%	6.5%	3.7%	3.71%
ROE 3Y Avg	snapshot only																				-11.51%
ROE 5Y Avg	snapshot only																				-17.96%
ROA 3Y Avg	snapshot only																				-7.34%
ROIC 3Y Avg	snapshot only																				-9.57%
ROIC Economic	snapshot only																				-3.74%
Cash ROA	snapshot only																				3.06%
Cash ROIC	snapshot only																				5.13%
CROIC	snapshot only																				1.39%
NOPAT Margin	snapshot only																				-4.04%
Pretax Margin	snapshot only																				-13.36%
R&D / Revenue	snapshot only																				14.35%
SGA / Revenue	snapshot only																				65.32%
SBC / Revenue	snapshot only																				14.99%

Valuation

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
P/E Ratio	-23.65	-14.40	-10.44	-10.87	-17.46	-14.59	-16.39	-16.68	-9.26	-13.54	-16.40	-19.14	-43.00	-79.50	-116.75	-106.12	-390.53	-97.82	-54.34	-73.44	-55.409
P/S Ratio	5.11	3.05	2.61	2.68	3.76	3.05	2.79	2.65	1.41	1.85	2.13	1.82	3.40	4.23	4.30	2.43	3.81	6.82	7.18	9.81	8.003
P/B Ratio	5.68	3.45	3.20	3.38	4.96	4.18	4.13	4.03	2.20	3.07	3.75	3.31	6.19	7.62	7.94	4.41	6.78	11.92	6.98	9.61	7.783
P/FCF	-19.72	-9.10	-7.42	-7.58	-12.42	-11.68	-12.66	-14.95	-9.20	-14.61	-15.86	-21.18	-62.15	72010.11	4569.80	116.21	287.05	-468.58	191.34	975.35	975.352
P/OCF	—	—	—	—	—	—	—	—	—	—	—	—	—	174.67	230.89	68.85	125.82	1891.62	109.88	264.35	264.350
EV/EBITDA	-30.14	-17.80	-13.04	-13.78	-22.29	-18.81	-22.01	-22.92	-14.04	-24.93	-40.34	-171.50	384.58	136.14	100.45	48.63	39.61	172.22	-199.93	-161.75	-161.752
EV/Revenue	4.93	2.92	2.65	2.80	3.90	3.18	2.95	2.87	1.60	2.09	2.45	2.11	3.65	4.42	4.54	2.59	3.96	6.75	6.92	9.51	9.512
EV/EBIT	-24.63	-14.51	-11.06	-11.68	-18.50	-15.59	-17.56	-18.25	-10.96	-17.60	-24.82	-39.20	-108.84	-470.33	913.71	161.78	60.18	3354.72	-97.74	-110.79	-110.792
EV/FCF	-19.04	-8.71	-7.55	-7.90	-12.89	-12.20	-13.38	-16.21	-10.43	-16.52	-18.20	-24.55	-66.63	75210.47	4823.21	123.79	298.31	-463.60	184.40	945.86	945.857
Earnings Yield	-4.2%	-6.9%	-9.6%	-9.2%	-5.7%	-6.9%	-6.1%	-6.0%	-10.8%	-7.4%	-6.1%	-5.2%	-2.3%	-1.3%	-0.9%	-0.9%	-0.3%	-1.0%	-1.8%	-1.4%	-1.36%
FCF Yield	-5.1%	-11.0%	-13.5%	-13.2%	-8.1%	-8.6%	-7.9%	-6.7%	-10.9%	-6.8%	-6.3%	-4.7%	-1.6%	0.0%	0.0%	0.9%	0.3%	-0.2%	0.5%	0.1%	0.10%
PEG Ratio	snapshot only																				0.263
Price/Tangible Book	snapshot only																				9.907
EV/OCF	snapshot only																				256.356
EV/Gross Profit	snapshot only																				12.759
Shareholder Yield	snapshot only																				0.00%

Leverage & Solvency

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Current Ratio	5.78	5.23	4.90	4.52	4.35	4.13	4.18	3.60	3.28	2.89	3.43	3.51	3.74	3.24	4.28	4.14	4.09	5.11	7.10	6.60	6.597
Quick Ratio	5.12	4.54	4.14	3.71	3.54	3.33	3.24	2.71	2.42	2.14	2.23	2.32	2.47	2.16	2.65	2.67	2.64	3.31	5.33	5.04	5.039
Debt/Equity	0.60	0.60	0.71	0.71	0.71	0.67	0.69	0.69	0.69	0.72	0.74	0.75	0.69	0.66	0.65	0.61	0.56	0.15	0.08	0.08	0.078
Net Debt/Equity	-0.20	-0.15	0.06	0.14	0.19	0.18	0.24	0.34	0.29	0.40	0.55	0.53	0.45	0.34	0.44	0.29	0.27	-0.13	-0.25	-0.29	-0.291
Debt/Assets	0.33	0.32	0.37	0.37	0.37	0.35	0.35	0.35	0.35	0.35	0.37	0.38	0.36	0.34	0.35	0.33	0.31	0.09	0.07	0.07	0.066
Debt/EBITDA	-3.30	-3.23	-2.83	-2.79	-3.08	-2.88	-3.47	-3.64	-3.88	-5.20	-6.97	-33.42	40.15	11.30	7.79	6.29	3.16	2.18	-2.51	-1.36	-1.358
Net Debt/EBITDA	1.07	0.80	-0.23	-0.56	-0.81	-0.80	-1.19	-1.77	-1.66	-2.87	-5.19	-23.54	25.85	5.79	5.28	2.98	1.49	-1.85	7.53	5.04	5.044
Interest Coverage	-12.71	-17.97	-22.86	-30.09	-42.51	-42.60	-74.30	-103.30	-22.45	-6.66	-3.14	-1.30	-0.73	-0.21	0.12	0.41	0.87	0.03	-1.15	-1.71	-1.708
Equity Multiplier	1.82	1.85	1.91	1.93	1.93	1.93	1.94	1.97	1.99	2.06	2.00	1.97	1.93	1.96	1.86	1.83	1.79	1.72	1.18	1.19	1.190
Cash Ratio	snapshot only																				3.114
Debt Service Coverage	snapshot only																				-1.170
Cash to Debt	snapshot only																				4.713
FCF to Debt	snapshot only																				0.126
Defensive Interval	snapshot only																				234.7 days

Efficiency & Turnover

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Asset Turnover	0.64	0.62	0.64	0.63	0.66	0.69	0.74	0.76	0.78	0.81	0.87	0.91	0.94	0.94	1.02	1.03	1.05	1.06	0.98	0.98	0.984
Inventory Turnover	1.68	1.57	1.51	1.38	1.36	1.36	1.36	1.36	1.47	1.62	1.52	1.63	1.63	1.61	1.59	1.61	1.55	1.53	1.46	1.52	1.520
Receivables Turnover	6.88	7.12	6.63	6.65	6.71	6.87	7.06	7.05	6.82	6.72	7.04	7.43	7.55	7.61	7.70	7.64	7.75	8.96	8.72	8.08	8.082
Payables Turnover	4.62	4.36	1.55	1.58	1.65	3.24	1.23	2.52	1.30	3.27	3.57	3.70	1.83	4.59	5.11	2.35	5.12	14.45	2.73	2.50	2.498
DSO	53	51	55	55	54	53	52	52	53	54	52	49	48	48	47	48	47	41	42	45	45.2 days
DIO	218	233	241	265	269	269	269	268	249	225	241	224	224	226	229	226	236	238	250	240	240.1 days
DPO	79	84	235	232	222	113	296	145	281	112	102	99	200	80	71	155	71	25	134	146	146.1 days
Cash Conversion Cycle	192	200	61	88	102	210	24	175	21	168	190	175	73	195	205	119	211	254	158	139	139.2 days
Fixed Asset Turnover	snapshot only																				2.611
Operating Cycle	snapshot only																				285.3 days
Cash Velocity	snapshot only																				2.656
Capital Intensity	snapshot only																				1.214

Growth (YoY)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue	18.8%	13.4%	6.9%	-1.8%	4.4%	8.8%	13.3%	15.4%	13.7%	14.7%	13.5%	17.3%	18.8%	17.8%	18.8%	17.2%	18.7%	20.2%	22.4%	23.6%	23.57%
Net Income	-11.7%	-13.4%	-42.9%	-43.5%	-4.0%	-7.3%	22.8%	25.8%	19.4%	25.0%	13.3%	29.5%	38.4%	54.1%	66.3%	71.8%	85.3%	-57.6%	-3.4%	-6.2%	-6.19%
EPS	-8.0%	-10.1%	-39.1%	-40.4%	-2.2%	-5.1%	24.2%	27.3%	20.9%	26.3%	14.6%	30.9%	39.6%	58.9%	67.8%	73.0%	86.0%	-61.4%	-2.8%	-5.2%	-5.15%
FCF	7.9%	-34.5%	-37.1%	-72.0%	-21.9%	15.4%	28.9%	42.4%	42.3%	44.3%	30.8%	42.9%	57.7%	1.0%	1.0%	1.3%	1.3%	-299.0%	47.8%	-40.7%	-40.68%
EBITDA	0.8%	-8.4%	-54.1%	-66.5%	-11.6%	-12.2%	25.4%	28.8%	25.8%	43.1%	48.6%	88.4%	1.1%	1.5%	1.9%	6.1%	11.5%	45.2%	-1.9%	-2.4%	-2.36%
Op. Income	-0.8%	-9.6%	-46.1%	-58.1%	-15.8%	-16.9%	15.7%	21.0%	18.9%	27.8%	27.4%	50.6%	64.4%	84.7%	97.9%	1.1%	1.5%	-1.4%	-22.2%	-8.5%	-8.50%
OCF Growth	snapshot only																				29.68%
Asset Growth	snapshot only																				48.39%
Equity Growth	snapshot only																				1.28%
Debt Growth	snapshot only																				-70.57%
Shares Change	snapshot only																				16.96%

Growth (CAGR)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue 3Y	18.3%	14.9%	12.3%	10.1%	9.5%	9.1%	10.2%	12.8%	12.1%	12.3%	11.2%	9.9%	12.1%	13.7%	15.2%	16.6%	17.0%	17.6%	18.2%	19.3%	19.30%
Revenue 5Y	27.9%	25.4%	23.0%	20.7%	19.5%	18.1%	17.1%	15.9%	14.5%	13.6%	12.7%	12.5%	12.1%	11.9%	12.6%	14.5%	14.7%	14.9%	14.9%	14.0%	13.98%
EPS 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EPS 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EBITDA 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EBITDA 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Gross Profit 3Y	17.1%	13.7%	11.0%	9.3%	8.8%	8.6%	10.0%	13.1%	11.7%	11.3%	9.6%	7.6%	9.5%	10.8%	11.5%	12.6%	13.2%	13.5%	14.5%	15.9%	15.86%
Gross Profit 5Y	27.3%	24.7%	22.1%	20.1%	19.0%	17.5%	16.5%	15.0%	13.1%	12.0%	10.9%	10.5%	10.0%	9.7%	10.1%	12.6%	13.0%	13.0%	13.0%	11.8%	11.82%
Op. Income 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Op. Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
OCF 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
OCF 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Assets 3Y	9.1%	9.1%	7.3%	7.8%	8.2%	8.1%	9.4%	4.1%	0.1%	-0.8%	-1.9%	-3.5%	-2.9%	-0.7%	-0.3%	1.6%	3.4%	4.3%	15.2%	16.7%	16.74%
Assets 5Y	46.8%	35.0%	35.6%	35.6%	35.9%	27.1%	28.0%	3.6%	3.8%	4.2%	3.1%	3.8%	4.5%	5.7%	6.2%	3.9%	2.2%	1.9%	8.0%	7.7%	7.69%
Equity 3Y	-8.3%	-8.5%	-9.6%	-9.7%	-9.2%	-8.6%	-7.7%	-6.7%	-7.0%	-8.1%	-8.0%	-6.9%	-4.8%	-2.6%	0.5%	3.4%	6.0%	8.5%	35.9%	38.2%	38.17%
Book Value 3Y	-10.5%	-10.6%	-11.8%	-11.7%	-11.3%	-10.7%	-9.9%	-9.0%	-9.2%	-10.1%	-9.8%	-8.8%	-6.6%	-7.3%	-2.1%	0.6%	3.1%	4.8%	27.5%	28.5%	28.45%
Dividend 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Growth Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue Stability	0.98	0.97	0.96	0.94	0.95	0.96	0.97	0.95	0.99	0.99	0.99	0.93	0.94	0.94	0.94	0.96	0.95	0.95	0.92	0.89	0.894
Earnings Stability	0.86	0.64	0.67	0.69	0.78	0.59	0.34	0.18	0.16	0.00	0.12	0.29	0.47	0.55	0.52	0.65	0.69	0.54	0.03	0.02	0.024
Margin Stability	0.98	0.98	0.98	0.98	0.98	0.98	0.99	0.98	0.98	0.97	0.97	0.97	0.96	0.96	0.95	0.96	0.96	0.96	0.95	0.95	0.952
Rev. Growth Consistency	1.00	1.00	1.00	0.00	1.00	1.00	1.00	0.50	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.000
Earn. Growth Consistency	0.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.00	0.00	0.00	0.000
FCF Positive Streak	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1	1	0
Earnings Persistence	0.95	0.95	0.83	0.83	0.98	0.97	0.91	0.90	0.92	0.90	0.95	0.88	0.85	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.500
Earnings Smoothness	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
ROE Trend	-0.04	-0.03	-0.10	-0.10	-0.06	-0.07	-0.01	0.01	0.02	0.04	0.05	0.10	0.12	0.16	0.17	0.17	0.17	0.04	0.02	-0.02	-0.024
Gross Margin Trend	-0.00	-0.00	-0.01	0.01	0.01	0.01	0.01	-0.01	-0.03	-0.04	-0.04	-0.05	-0.05	-0.05	-0.06	-0.05	-0.03	-0.03	-0.01	-0.01	-0.010
FCF Margin Trend	0.03	-0.08	-0.08	-0.07	-0.01	0.05	0.09	0.10	0.13	0.17	0.15	0.18	0.17	0.19	0.18	0.15	0.12	0.05	0.10	0.04	0.043
Sustainable Growth Rate	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Internal Growth Rate	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Cash Flow Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
OCF/Net Income	0.33	0.50	0.43	0.59	0.66	0.55	0.51	0.28	0.18	0.26	0.50	0.40	0.31	-0.46	-0.51	-1.54	-3.10	-0.05	-0.49	-0.28	-0.278
FCF/OCF	3.67	3.19	3.28	2.44	2.14	2.25	2.56	4.05	5.65	3.52	2.08	2.23	2.24	0.00	0.05	0.59	0.44	-4.04	0.57	0.27	0.271
FCF/Net Income	snapshot only																				-0.075
CapEx/Revenue	18.8%	23.0%	24.4%	20.9%	16.1%	14.5%	13.4%	13.3%	12.6%	9.1%	7.0%	4.8%	3.0%	2.4%	1.8%	1.4%	1.7%	1.8%	2.8%	2.7%	2.70%
CapEx/Depreciation	snapshot only																				1.000
Accruals Ratio	-0.09	-0.07	-0.09	-0.06	-0.05	-0.06	-0.06	-0.09	-0.10	-0.08	-0.06	-0.05	-0.05	-0.07	-0.06	-0.06	-0.04	-0.08	-0.19	-0.17	-0.168
Sloan Accruals	snapshot only																				0.332
Cash Flow Adequacy	snapshot only																				1.372

Dividends & Buybacks

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Dividend Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Dividend/Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Payout Ratio	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF Payout Ratio	—	—	—	—	—	—	—	—	—	—	—	—	—	0.0%	0.0%	0.0%	0.0%	—	0.0%	0.0%	0.00%
Total Payout Ratio	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Div. Increase Streak	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Chowder Number	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Buyback Yield	0.1%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Net Buyback Yield	-0.6%	-0.3%	-0.3%	-0.5%	-0.4%	-0.4%	-0.6%	-0.7%	-1.1%	-0.7%	-0.4%	-0.4%	-0.2%	-0.2%	-0.5%	-0.9%	-0.6%	-0.5%	-8.4%	-5.6%	-5.63%
Total Shareholder Return	-0.6%	-0.3%	-0.3%	-0.5%	-0.4%	-0.4%	-0.6%	-0.7%	-1.1%	-0.7%	-0.4%	-0.4%	-0.2%	-0.2%	-0.5%	-0.9%	-0.6%	-0.5%	-8.4%	-5.6%	-5.63%

DuPont Factors

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Tax Burden (NI/EBT)	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.000
Interest Burden (EBT/EBIT)	1.08	1.05	1.04	1.03	1.02	1.02	1.01	1.01	1.04	1.15	1.32	1.77	2.36	5.66	-7.42	-1.43	-0.15	-34.66	1.87	1.56	1.556
EBIT Margin	-0.20	-0.20	-0.24	-0.24	-0.21	-0.20	-0.17	-0.16	-0.15	-0.12	-0.10	-0.05	-0.03	-0.01	0.00	0.02	0.07	0.00	-0.07	-0.09	-0.086
Asset Turnover	0.64	0.62	0.64	0.63	0.66	0.69	0.74	0.76	0.78	0.81	0.87	0.91	0.94	0.94	1.02	1.03	1.05	1.06	0.98	0.98	0.984
Equity Multiplier	1.70	1.74	1.77	1.84	1.87	1.89	1.92	1.95	1.96	1.99	1.97	1.97	1.96	2.01	1.93	1.90	1.85	1.83	1.39	1.38	1.385

Per Share

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
EPS (Diluted TTM)	$-0.67	$-0.65	$-0.76	$-0.75	$-0.68	$-0.68	$-0.58	$-0.55	$-0.54	$-0.50	$-0.49	$-0.38	$-0.33	$-0.21	$-0.16	$-0.10	$-0.05	$-0.33	$-0.61	$-0.63	$-0.63
Book Value/Share	$2.78	$2.71	$2.48	$2.42	$2.40	$2.39	$2.29	$2.27	$2.27	$2.22	$2.15	$2.19	$2.27	$2.16	$2.33	$2.46	$2.63	$2.75	$4.75	$4.80	$4.80
Tangible Book/Share	$2.71	$2.65	$2.41	$2.34	$2.32	$2.30	$2.20	$2.17	$2.17	$2.12	$2.04	$2.08	$2.15	$2.05	$2.20	$2.33	$2.49	$2.60	$4.60	$4.66	$4.66
Revenue/Share	$3.09	$3.07	$3.05	$3.05	$3.17	$3.28	$3.39	$3.45	$3.54	$3.69	$3.79	$3.97	$4.12	$3.90	$4.30	$4.46	$4.68	$4.80	$4.62	$4.71	$4.71
FCF/Share	$-0.80	$-1.03	$-1.07	$-1.08	$-0.96	$-0.85	$-0.75	$-0.61	$-0.54	$-0.47	$-0.51	$-0.34	$-0.23	$0.00	$0.00	$0.09	$0.06	$-0.07	$0.17	$0.05	$0.05
OCF/Share	$-0.22	$-0.32	$-0.33	$-0.44	$-0.45	$-0.38	$-0.29	$-0.15	$-0.10	$-0.13	$-0.24	$-0.15	$-0.10	$0.09	$0.08	$0.16	$0.14	$0.02	$0.30	$0.17	$0.17
Cash/Share	$2.21	$2.03	$1.61	$1.38	$1.26	$1.15	$1.04	$0.81	$0.90	$0.72	$0.41	$0.48	$0.56	$0.70	$0.49	$0.79	$0.78	$0.76	$1.60	$1.77	$1.77
EBITDA/Share	$-0.51	$-0.50	$-0.62	$-0.62	$-0.55	$-0.55	$-0.45	$-0.43	$-0.40	$-0.31	$-0.23	$-0.05	$0.04	$0.13	$0.19	$0.24	$0.47	$0.19	$-0.16	$-0.28	$-0.28
Debt/Share	$1.67	$1.63	$1.75	$1.73	$1.71	$1.59	$1.58	$1.57	$1.57	$1.61	$1.60	$1.64	$1.57	$1.43	$1.51	$1.50	$1.48	$0.41	$0.40	$0.38	$0.38
Net Debt/Share	$-0.54	$-0.40	$0.14	$0.35	$0.45	$0.44	$0.54	$0.77	$0.67	$0.89	$1.19	$1.15	$1.01	$0.73	$1.03	$0.71	$0.70	$-0.35	$-1.20	$-1.40	$-1.40

Academic Models

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	30.166
Altman Z-Prime	snapshot only																				52.897
Piotroski F-Score	3	2	2	3	3	3	4	4	4	3	3	3	4	6	6	7	7	6	5	4	4
Beneish M-Score	-2.67	-2.59	-2.84	-2.57	-2.50	-2.47	-2.48	-2.71	-2.70	-2.59	-2.53	-2.40	-2.53	-2.70	-2.49	-2.56	-2.38	-2.68	-3.13	-2.87	-2.872
Ohlson O-Score	snapshot only																				-8.507
ROIC (Greenblatt)	snapshot only																				-8.10%
Net-Net WC	snapshot only																				$2.85
EVA	snapshot only																				$-28325020.00

Credit

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Credit Rating	snapshot only																				A
Credit Score	49.68	37.28	34.16	35.20	45.57	40.71	39.81	40.41	35.82	35.75	35.76	36.04	47.04	54.16	57.23	49.05	60.96	65.66	72.93	70.50	70.499
Credit Grade	snapshot only																				6
Credit Trend	snapshot only																				21.448
Implied Spread (bps)	snapshot only																				150.000
Industry Credit Rank	snapshot only																				67
Sector Credit Rank	snapshot only																				68

AXGN NASDAQ

Edge Score

Analyst Insights

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

Executive Compensation

C-Suite Compensation

CEO Pay Ratio

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Scaling Efficiency

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