AXGN · 10-Q · 2026Q1 · Full report

Outstanding Indebtedness

Axogen, Inc. · 2026-04-28 · Importance 71 · Surprise 60

On January 23, 2026 the company completed an upsized public offering that generated net proceeds of $133,252 (amounts in thousands), from which $69,707 was used to fully repay and terminate the company’s Credit Facility on January 28, 2026. The Company recognized a loss on extinguishment of debt of $16,849 (amounts in thousands), which was the primary driver of a $14,579 increase in other expense, net for the quarter. Interest expense decreased by $1,556 in the period, and investment income increased by $496, reflecting changes after refinancing and the shift in the capital structure. The repayment and extinguishment materially changed the company’s indebtedness profile and liquidity position in Q1 2026.

Key facts

• Other expense, net increased $14,579, or 670.9%, to $16,752 for the three months ended March 31, 2026 compared to $2,173 for the three months ended March 31, 2025
• Loss on extinguishment of debt was $(16,849) in the three months ended March 31, 2026
• The increase in other expense, net was primarily due to a loss on extinguishment of debt of $16,849, partially offset by a decrease of $1,556 in interest expense and an increase of $496 in investment income
• Interest expense was $(2,250) for the three months ended March 31, 2025
• Interest expense was $(694) for the three months ended March 31, 2026
• Change in fair value of debt derivative liabilities was $(158) for the three months ended March 31, 2025

Impact estimates