Axogen, inc. (AXGN)
CashFlow / TTM
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

-27,823

-29,135

-27,326

-25,857

-26,262

-22,397

-19,666

-17,688

-12,321

-10,445

-13,573

-13,754

-14,496

-14,411

-12,395

-13,069

-13,457

-13,356

-16,236

-16,495

-17,046

-17,710

-15,328

-15,642

-15,358

-14,556

-14,490

-13,174

-10,746

-9,417

-7,512

-8,389

-9,037

-9,219

0

0

0

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

1,029

933

830

838

805

774

716

645

559

488

445

412

391

362

324

283

240

203

184

173

161

153

129

104

90

79

102

128

155

187

204

228

254

273

0

0

0

Amortization of right-of-use assets

1,854

1,821

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of intangible assets

133

123

107

93

83

77

77

77

75

79

87

84

82

75

59

55

50

45

45

45

46

45

48

51

55

59

-73

92

112

127

275

108

85

67

0

0

0

Amortization of deferred financing costs

-

-

-

-

-

81

190

236

262

246

166

152

138

125

126

126

124

127

137

160

181

199

190

196

185

178

431

392

374

352

90

237

186

1,223

0

0

0

Amortization of debt discount

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

161

49

36

27

23

0

0

0

Provision for bad debt

520

514

404

563

811

852

437

253

245

223

82

131

34

80

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for inventory write-down

2,367

1,887

422

666

1,433

1,343

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in investment gains and losses

727

972

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Share-based compensation

8,545

10,304

9,009

8,825

8,192

7,606

7,098

5,806

4,489

3,609

2,835

2,210

2,055

1,390

1,331

1,372

1,131

1,316

1,285

1,178

1,067

956

838

753

669

671

551

558

597

495

631

519

377

250

0

0

0

Stock grant for service

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

60

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Interest added to note payable

-

-

-

-

-

-

-

-

-

-

-

-

-

1,924

209

307

350

461

2,663

3,484

4,313

5,022

3,841

3,858

3,817

3,783

0

0

0

-

-

-

-

-

-

-

-

Change in fair value of warrant liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-62

0

0

0

Change in operating assets and liabilities:
Accounts receivable

-1,654

2,136

1,865

4,489

4,237

5,108

4,226

3,189

3,628

3,236

3,278

3,481

3,127

3,349

2,568

2,408

2,335

2,036

1,935

1,346

1,231

1,014

1,061

1,170

844

902

814

553

285

252

387

225

380

368

0

0

0

Inventory

3,811

3,767

3,156

4,571

6,500

6,009

5,565

4,716

3,994

3,295

3,515

2,986

2,122

2,313

1,269

1,246

1,178

720

355

129

-128

-184

-113

-165

45

247

737

1,107

1,293

1,390

1,060

510

253

-142

0

0

0

Prepaid expenses and other

902

661

667

1,050

1,473

192

905

722

606

342

-113

-30

50

87

395

374

439

315

189

96

64

-187

-76

17

53

109

-31

-243

-97

53

-11

120

118

-20

0

0

0

Accounts payable and accrued expenses

-144

2,920

1,994

3,688

5,113

3,711

4,861

2,710

2,027

1,927

2,617

3,267

3,013

3,411

326

339

181

1,117

2,217

1,320

1,665

498

529

477

316

430

-546

-116

-87

-105

206

-35

568

500

0

0

0

Operating lease obligations

1,822

1,773

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for interest portion of finance leases

-

4

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contract and other liabilities

-31

-30

-41

-47

-55

-66

-77

-65

-29

70

111

118

109

18

0

-7

-21

-21

24

25

27

29

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in operating activities

-19,057

-19,872

-21,518

-22,620

-20,885

-17,862

-13,934

-13,130

-11,127

-9,238

-9,644

-9,858

-10,581

-11,237

-14,043

-14,446

-15,147

-13,051

-11,221

-10,742

-9,814

-10,451

-10,402

-11,001

-10,944

-10,444

-11,435

-10,361

-8,834

-8,661

-7,476

-8,081

-8,400

-7,079

0

0

0

Cash flows from investing activities:
Purchase of property and equipment

9,207

4,664

3,906

7,313

6,400

6,282

6,540

1,392

1,366

1,105

934

840

626

931

668

733

805

408

552

391

352

542

455

416

348

178

77

62

45

48

0

0

0

-

-

-

-

Purchase of investments

83,920

121,074

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of investments

121,850

153,571

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash payments for intangible assets

672

562

397

341

189

321

324

293

243

187

251

281

225

226

212

190

200

146

104

75

75

52

54

56

42

65

46

68

69

78

105

92

92

68

0

0

0

Net cash provided by investing activities

28,051

27,271

22,229

-84,515

-89,922

-98,193

-107,229

-1,685

-1,609

-1,292

-1,185

-1,122

-851

-1,157

-880

-923

-1,005

-555

-656

-466

-428

-594

-509

-473

-390

-243

-124

-131

-114

-127

-155

7,057

7,059

7,112

0

0

0

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

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

30,968

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Borrowing on revolving loan

-

-

-

-

-

26,253

42,298

57,732

62,497

57,599

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on revolving loan and prepayment penalties

-

-

-

-

-

30,489

46,534

61,798

62,491

57,624

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of long-term debt and prepayment penalties

-

-

-

-

-

22,513

22,508

22,504

18

21

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for debt portion of finance leases

27

29

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt issuance costs

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

180

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

434

0

0

0

Proceeds from exercise of stock options

3,986

4,002

4,248

4,488

3,797

3,884

3,126

2,708

1,735

1,434

1,517

1,391

1,058

1,078

0

0

0

-

-

-

-

135

134

174

164

73

57

39

17

15

0

0

0

-

-

-

-

Merger

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

-

-

-

-

Net cash provided by /( used for) financing activities

3,378

4,031

4,215

4,451

109,768

109,842

124,751

124,507

17,384

17,022

16,868

16,579

16,399

16,499

991

18,019

17,845

31,301

30,011

12,661

12,690

-808

128

16,952

16,941

16,851

29,700

14,546

14,507

14,505

1,552

3,432

6,396

6,358

0

0

0

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

12,372

11,430

4,926

-102,684

-1,038

-6,213

3,587

109,691

4,645

6,492

6,037

5,597

4,965

4,105

-13,932

2,650

1,693

17,693

18,132

1,452

2,447

-11,853

-10,783

5,477

5,607

6,162

18,141

4,053

5,558

5,716

-6,080

2,409

5,055

6,391

0

0

0

Supplemental disclosures of cash flow activity:
Cash paid for interest

31

34

34

22

762

1,325

1,888

2,467

2,269

2,198

4,369

4,863

5,373

5,769

4,608

3,840

3,622

3,525

4,707

4,897

4,412

3,912

1,435

1,236

1,161

1,030

951

830

696

649

2,088

908

970

1,029

0

0

0

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

5,940

3,212

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-472

26

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-