Axogen, inc. (AXGN)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Cash flows from operating activities:
Net loss

-8,192

-7,038

-5,571

-7,022

-9,504

-5,229

-4,102

-7,427

-5,639

-2,498

-2,124

-2,060

-3,762

-5,626

-2,305

-2,802

-3,676

-3,611

-2,978

-3,190

-3,575

-6,491

-3,238

-3,741

-4,239

-4,108

-3,552

-3,457

-3,437

-4,042

-2,236

-1,029

-2,109

-2,136

-3,113

-1,677

-2,291

Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation

307

302

192

228

211

199

200

195

180

141

128

109

108

98

95

88

78

61

54

45

41

42

43

33

33

18

18

19

23

41

44

46

55

58

67

72

75

Amortization of right-of-use assets

470

469

461

454

437

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of intangible assets

36

34

33

30

26

18

19

20

20

18

18

18

23

26

16

16

16

11

11

10

11

11

11

11

10

14

14

14

14

-117

181

34

29

30

13

12

10

Amortization of deferred financing costs

-

-

-

-

-

0

0

20

61

109

46

46

44

29

31

32

30

31

31

31

33

40

55

52

51

32

61

41

44

284

22

22

22

22

169

-27

1,059

Amortization of debt discount

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

124

12

12

12

12

0

2

8

Provision for bad debt

22

664

9

-175

16

554

168

73

57

139

-16

65

34

-0

32

-32

80

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for inventory write-down

924

1,931

51

-539

444

466

295

228

354

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in investment gains and losses

49

15

355

308

294

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Share-based compensation

556

2,920

2,395

2,674

2,315

1,625

2,211

2,041

1,729

1,117

919

724

848

343

293

569

182

285

334

328

368

254

227

216

257

137

142

132

259

16

149

171

157

152

37

30

30

Stock grant for service

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

60

-

-

-

-

-

-

-

-

-

-

-

-

Interest added to note payable

-

-

-

-

-

-

-

-

-

-

-

-

-

1,724

12

115

71

10

110

157

183

2,211

931

987

891

1,031

948

945

858

-

-

-

-

-

-

-

-

Change in fair value of warrant liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

57

-119

Change in operating assets and liabilities:
Accounts receivable

-3,902

2,156

-825

917

-112

1,885

1,799

665

759

1,003

761

1,103

366

1,046

964

749

588

265

804

676

289

164

216

561

71

212

324

236

129

124

63

-31

96

259

-99

123

85

Inventory

1,626

2,110

147

-72

1,582

1,499

1,562

1,857

1,091

1,055

713

1,134

391

1,276

184

270

581

232

161

202

124

-132

-64

-55

67

-61

-115

155

269

428

254

341

365

98

-294

84

-30

Prepaid expenses and other

2,024

-438

-213

-471

1,783

-432

170

-48

502

281

-13

-164

237

-173

70

-83

274

134

49

-18

150

8

-44

-50

-101

119

50

-14

-45

-21

-161

130

106

-86

-29

129

-32

Accounts payable and accrued expenses

-1,903

1,632

472

-345

1,161

706

2,166

1,080

-241

1,856

14

397

-341

2,546

665

143

55

-537

678

-15

992

562

-218

330

-175

593

-270

169

-60

-383

159

197

-78

-72

-82

802

-146

Operating lease obligations

472

497

430

423

423

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for interest portion of finance leases

-

1

1

1

1

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contract and other liabilities

-3

-7

-11

-10

-2

-18

-17

-18

-13

-29

-5

18

86

12

2

9

-5

-5

-5

-5

-5

40

-3

-3

-3

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in operating activities

-8,052

-3,330

-1,864

-5,811

-8,867

-4,976

-2,966

-4,076

-5,844

-1,048

-2,161

-2,073

-3,954

-1,455

-2,376

-2,796

-4,609

-4,261

-2,779

-3,497

-2,513

-2,431

-2,299

-2,569

-3,150

-2,383

-2,897

-2,512

-2,651

-3,373

-1,823

-985

-2,478

-2,188

-2,428

-1,305

-1,156

Cash flows from investing activities:
Purchase of property and equipment

5,021

988

1,991

1,207

478

230

5,398

294

360

488

249

268

98

318

156

53

402

55

220

126

6

199

59

87

195

112

21

19

26

11

6

1

29

-

-

-

-

Purchase of investments

11,760

16,760

20,172

35,228

48,914

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of investments

25,450

31,500

23,200

41,700

57,171

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash payments for intangible assets

119

166

116

271

9

1

60

119

141

4

29

68

84

68

60

11

85

54

38

22

32

12

9

21

8

14

11

7

31

-3

33

7

41

23

19

7

17

Net cash provided by investing activities

8,550

13,586

921

4,994

7,770

8,544

-105,823

-413

-501

-492

-279

-336

-183

-386

-216

-65

-488

-110

-258

-148

-38

-211

-68

-109

-203

-127

-32

-26

-57

-7

-39

-9

-70

-36

7,173

-7

-17

Cash flows from financing activities:
Payments for repurchase of common stock for employee tax withholding

639

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2

17,200

-1

13,772

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Borrowing on revolving loan

-

-

-

-

-

0

0

10,107

16,146

16,045

15,433

14,872

11,247

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on revolving loan and prepayment penalties

-

-

-

-

-

0

0

14,326

16,163

16,045

15,263

15,018

11,295

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of long-term debt and prepayment penalties

-

-

-

-

-

10

11

22,489

3

5

7

3

5

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for debt portion of finance leases

5

5

7

10

7

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt issuance costs

-

-

-

-

-

-

-

-

-

-

0

3

26

-

-

-

-

-0

0

0

180

-

-

-

-

-

-

-

-

-

-

-

-

132

219

45

37

Proceeds from exercise of stock options

316

860

627

2,183

332

1,106

867

1,492

419

348

448

519

117

432

322

186

136

-

-

-

-

1

0

41

92

0

39

31

1

-15

21

9

0

-

-

-

-

Merger

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-0

0

0

-

-

-

-

Net cash provided by /( used for) financing activities

-328

913

620

2,173

325

1,097

856

107,490

399

16,006

611

366

36

15,853

322

186

136

345

17,350

12

13,591

-943

0

41

92

-6

16,823

31

1

12,843

1,669

-7

0

-110

3,550

2,956

-37

Net increase / (decrease) in cash, cash equivalents, and restricted cash

170

11,169

-323

1,356

-772

4,665

-107,933

103,002

-5,947

14,465

-1,829

-2,043

-4,100

14,011

-2,269

-2,675

-4,960

-4,025

14,312

-3,632

11,039

-3,586

-2,367

-2,637

-3,261

-2,516

13,893

-2,507

-2,706

9,462

-193

-1,003

-2,548

-2,334

8,295

1,643

-1,212

Supplemental disclosures of cash flow activity:
Cash paid for interest

11

3

6

11

14

3

-6

751

577

566

573

553

505

2,737

1,067

1,063

900

1,576

299

846

803

2,757

490

360

303

280

291

285

172

201

170

151

125

1,641

-1,009

213

184

Supplemental disclosure of non-cash investing and financing activities:
Acquisition of fixed assets in accounts payable and accrued expenses

3,674

2,528

117

-379

946

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Right-of-use asset and operating lease liability (Adoption of ASC 842)

120

0

0

-592

618

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-