AXGN - Earnings call 4 2023

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Operator

Hello, and welcome to the AxoGen, Inc. 2023 Fourth Quarter and Full Year Financial Results Conference Call and Webcast. [Operator Instructions]

As a reminder, this conference is being recorded.

to President, call Finance pleasure Harold to my Vice Tamayo, and now turn over the It's Investor Relations. now may you begin. Harold,

Harold D. Tamayo

Thank morning, you, good Kevin, everyone. and

by Zaderej, Officer Joining our Chairman, Karen financial question-and-answer analysis discuss and will a and and Naor, is Nir today's quarter me Officer. our Karen performance the the year on Chief Financial guidance Chief President; year, and outlook of full Executive discuss and will Nir call an followed AxoGen's session. for XXXX, provide

is being on call the broadcast Today's which live is the AxoGen via available of webcast, Investors section website.

end section a replay of the will Investors website the company's the www.axogeninc.com. at in Following live the of be call, available

call, growth including Before expand pain marketing and applications with make nerve started, accounts, we to core footprint, expectations categories, and expand accounts, treatment our core remind emergent get OMF like anticipate penetration company conference of forward-looking opportunities the new breast, products. projections surgical with for associated I'd statements, this revenue our you trauma, our ability regarding to and of will during that

biologics as Our application Nerve of the the launch complete for expectations submission our regarding statements well the of the Graft, of regarding for statement as of the Avance BLA. our approved timing Avive+, timing license timing

the is expectation and product reference expected as Graft that designation. market designated Our assuming of be approved Nerve the Avance will exclusivity such BLA

continue sheet our flow that belief sufficient will and balance be breakeven through to profitability. Our cash to bridge longer-term to

and balance ample towards operating work to allow breakeven, continue support towards towards flow trends as our that provide maintain sheet and we belief us is will that will Our position trending we a strong profitability. expectation leverage cash

products. reflected to processes issues, such on adoption and Forward-looking uncertainties and and and are and the risks the and hospital product current uncertainties, subject our are not staffing awareness company's regulatory guarantees as statements and surgeon risks periodic and not and including reports of in limitation, annual market future performance without are assumptions of approvals, based beliefs

representative are by they statements law. responsibility and publicly statements. forward-looking date forward-looking as required any no We as to as revise assume only update the applicable of or made The are said

reconciliation for and today's presentation of of the reference press the a website. measures, release Investors addition, on our non-GAAP please company's corporate In section

Now to I call would like the to Karen? over Karen. turn

Karen Zaderej

financial And you today thank Thank as Fourth for XXXX Harold. us our you, Year we joining results. all Quarter and discuss Full

by and by solid back key XXXX the estimate we half focused of trauma and was execution execution, XXXX, XXXX. $XXX year team. XX% from to compared grew Full digits, million, a revenue year revenue we XXXX innovation from of above and period, accomplishments, in emergent revenue this our the entered strategy, commercialization that In grew with XX.X% mid-single XXXX XXXX. sales commercial and fueled a the procedures strong during increase a scheduled compared as saw in to improved period we procedures our was same

regarding specific of our hospitals on the assumptions subject account such, are practices the sales categories surgeon data available estimates assumptions. based these received reminder, and reps received as from a As of and and and data procedure information, and limitations are to

clinical as our ongoing with we they of engagement long-term appreciative execution patient progress drive growth, education feedback AxoGuard innovation our We're integrate and continue pleased and We're protection to as as leveraging more surgeon adoption activation. will confident products surgeon data, algorithm, of their applications into nerve will nerve with nerve help We're HA+ differentiated AxoGuard HA+ compared expand injuries. finding and classic. AxoGuard protection patients that to the and

and a nerve which we be the Avive+ of surgical temporary tissue Avive+ functions treatment believe will the protection Tissue strengthen offering Section phase emergent trauma will second tissue Matrix, protection be pain. for nerve as protection, for a commercially available a our and of supporting further as product healing We with of Soft resorbable XXX is quarter our the Additionally, we're providing during injuries. separation Avive+ continuing regulated to will and barrier, XXXX. position critical product in nerve anticipate in that expand protection nerve

early new patients the to for the In XX% mastectomy launched Resensation with have We're will pleased the XX% their technique. our approach this breast feedback neurotization our restoration, technique reconstruction. programs, XXXX, we surgeon also positive this to implant-based could to who believe reconstruction innovative breast This patients. educational allow following and all engagement, from opportunity reconstruction. of adoption technique more choose and an of women sensory We for additional apply an

publication In important Nerve demonstrated an as pool results, this play gap the length in clinical The the This supporting RECON published especially Journal Avance of continues clinical returned Graft superiority adds addition Surgery. to found strong and the a of analysis degree authors' adopter recoveries and includes of Hand supporting the literature of evidence study a Graft. functional We and decision-making, August, was with Nerve X was which greater to middle that that Avance of the conduits, Level in believe Avance efficacy surgeon published role of surgeons. evidence study increased.

cost compelling the package the of X clinicians studies and the of both In payers. for and analysis, cost-effectiveness evidence the meta premier these study U.S. payers combination comparison with recent analysis, a provide publications all

During This into capacity. our Nerve This and Xx the our completed for year, the growth providing facility facility designed our validation new long-term new for facility near support will was previous Avance expansion, Ohio. we Graft. Dayton, transitioned also processing BLA and

quarter results. grew Now by from to mid-single estimate revenue XX.X% turning total quarter. increased last year. year. We fourth trauma the emergent revenue of approximately quarter to that the We're to represented $XX.X Revenue digits and performance during from to compared million last the half our pleased compared with our

following or completed initial referred injury. a trauma As present emergent in by and injuries are either These days an generally to immediately results a procedures reminder, from few initially a that the specialist ER. typically within

believe approximately represented procedures of half also total revenue. We scheduled

the category that more grew we During quarter, the XX% estimate versus prior this than year.

seeking procedures condition defect a the maxillofacial characterized caused a reconstruction surgical a surgical removal reconstruction. reminder, breast relief following following as neuroma, of procedures nerve scheduled as mastectomy, or nerve is nerve include patient As procedures such where reconstruction and mandible nerve and procedure. a by a painful These a generally are oral of decompression, a

patients, Strength in activation of effective this and for category programs. clinical quality improved patient data, education of outcomes reflects implementation the to provide opportunity life surgeon compelling

growth accounts significant footprint. see where today's our As into mentioned core strategy going opportunity in deeper continues be we expand press our on release, focused to to

defined those use generating than by months. these XX approximately productivity force of $XXX,XXX Accounts our from products represent within our Core are direct was As of expanded adoption over the driven increased in more XX% Revenues revenue cases revenue. Core primarily as a sales Growth as reminder, Accounts and gain trailing of Accounts. they deeper Core total surgeon

fourth the ago ended quarter year direct and from sequentially. We sales XXX with representatives, flat X% up a

continue add levels. approach sales will evaluate territories their reps and targeted as We to

direct agencies is sales Our of sales total force XX% supplemented by our approximately that independent revenue. represent

in by products. across all and growth applications. the was products from were pleased We new and broad-based QX, contributions innovation new applications In

of of both awareness use raise continue AxoGuard and nerve expanded HA+ scheduled and We emergent need the protection across saw to procedures. for

We reconstruction in trained breast of number surgeon and surgical this expanded neurotization strong new teams the patient also implant-based saw application. and important in and interest

body our on updates of to on evidence. Moving clinical growing

Over years, quality investments the evidence the safety repair significant of economics we've demonstrate performance, nerve develop to our to clinical utility made and solutions.

terminated positive XXX we progressing we AxoGuard This from Our post-marketing endpoint end of Nerve have symptomatic scale. for At study announced quarter, standard care to of as of study, analog the and by the neurectomy REPOSE breast, OMF nerve January, with end met the are active results expected. the neuroma peer-reviewed its pain. Cap. of line protection clinical reduction top of pain as neurectomy including the trauma, clinical programs publications, comparing visual measured and the primary This

standard surgeon study neurectomy. addition, total follow-up, In that that care reported an Nerve the will the statistical findings believe full in clinical compared important decision superiority to the Cap AxoGuard subjects demonstrated of over reduction found the for course making. We XX-month by play role in as pain investigators these of

for pre-BLA recently of with be the the interactions and FDA. with the FDA the We meeting for aligned filing the in have submission mid-XXXX. on modules a We're approval content to XXXX, by turning now We've potential Now positive productive BLA Graft. QX the Nerve of our the to with and submission. completed process completed encouraged Avance rolling in anticipate

the a reminder, to product will from BLA Avance Graft product. a Nerve a XXX complete regulatory transition biological a approval tissue XXX As of

well mission are over product to Importantly, launch, of we for designated Nerve repair of market innovate I Graft forward and since repair. of we implanted Avance revolutionizing biosimilars, the to developing as team, will potential years our large continue continuing nerve XX providing lead With peripheral reference proud and believe Avance in nerve our XXX,XXX the exclusivity. I'm be of and positioned science the look market. to

of Now I'll and guidance. a financial call review to our to Nir provide the highlights turn Nir? over

Nir Naor

participate very I'm company. call. meeting story first of months great my the the team. Thank excited the people and you, AxoGen Karen. to about very in X been ramping I'm happy the and It's on up potential

to results. the financial moving And

a with XX.X% X.X% For from volume, total million, increase This XX.X% increase estimate a to revenue XXXX. estimate approximately represented mid-single last this that of a growth We of quarter, We year. scheduled from growth total grew digits is to half reached mix quarter unit $XX.X procedures half favorability, of price. in fourth X.X% the our added and compared revenue and represented revenue [indiscernible] trauma revenue attributed emergent for approximately revenue. that in

the During than estimate category year. more versus grew that this the prior we quarter, XX%

recorded down is facility. from profit Our year. This costs This driven of same quarter the XX% processing represents new an tissue million, quarter associated the fourth period with from in was $XX gross last gross at change the margin XX.X%, the $XX.X million starting XXXX. in our of increase by the mainly for

in operating total for XXXX. $XX.X X.X% $XX Our of to the from up increased million QX expenses by million, quarter

and expenses by quarter for million. fourth the Specifically, $XX.X marketing our to grew sales XX.X%

to as total fourth decreased revenue Sales in of force improved quarter a and marketing productivity. sales as expenses XX% XXXX of the saw from XX.X% we percentage

and driven to the Research by BLA. related to XXXX, by million development from X.X% $X.X costs expenses in $X.X million increased

previous XX.X% quarter As year. the a expenses percentage reduced the to in from revenues, last of total XX%, of R&D down total

million administrative XX.X% our forfeitures $X.X QX departure in the stock $X.X General driven of of to mainly by million com decreased and XXXX, expenses of XXXX due in to from QX from executives by company.

ended per compared with fourth net to of million or share, a quarter of in loss share or $X.XX $X.X a net $X.X the quarter per loss XXXX. $X.XX million The of

$X.X of million loss per recorded a loss share, quarter, $X.X an the year, net million to period shift share $X.XX translating last for of costs. in or adjusted adjusted same from severance onetime in However, part an per $X.XX the roughly driven we net by

$X.X Adjusted quarter to EBITDA EBITDA of prior was fourth adjusted compared $X.X million year. the in an million loss

XX, balance equivalents $XX December to $XX.X of million quarter. third As cash, of end our was and cash of the compared million at the investments

Turning guidance. now to our

our we guidance press today's release, in are outlined As XXXX. issuing full year for

revenue XX%. $XXX to expect in growth to an represents the approximately range annual of million, million We to rate be of $XXX which XX%

margin utilization and be full improved processing of of benefit gross for our Avance to of facility capacity gross in we the anticipate XX% we Additionally, future, sales the range new margin increases. XX%. to year to volume expect our In as the from

with we're performance. pleased summary, our quarter fourth in And

flow productivity our cash We strategies, improve continue innovation, execute will and drive and towards to our breakeven investment profitability.

open time, questions. for this to line like Kevin? And we'd the

Operator

[Operator coming from is Chris first Pasquale from question Nephron. today Our Instructions]

Christopher Pasquale

portfolio? Avive+ Karen, how there off is of do that Is And same market. relatively incremental ramp reason think you quickly? $X won't how much it to level to any that annualizing your cannibalistic million to existing to pulled before sales close Avive at that about the versus was think you in

Karen Zaderej

Yes.

We is previously Just to for going that that we into had it's we've an product that help temporary we of ramp product Avive they barrier, launched immediate product want some we don't we a quarters. an it their to in nerve -- which tool Avive from an very important prior back segment few algorithm. so up, launched the the of have regulatory get be they to classifications pop are think something do remind this that's people going important that Avive a anxious to move Avive+ and this to who as used to of don't used overplay think that was changes I surgeons. I part because withdrew surgeons completely as into treatment next because protection Avive+, and FDA,

business to into continue going growth think more but the to revenue. in that it size be just than of that us ramp help I'd and won't to protection So complement it's we immediately have cautious up continue say protection allow overall see that to I and

cannibalization. Avive when There tool market. had is no the another to Surgeons had on to some they longer turn

So do think Avive were try business products and there will of us. other business still be a for their to using some protection cannibalization But we some where provide the alternatives most be surgeons will of the new nerves. our for

So cannibalization, new. it be it some will while will be -- there predominantly will

Christopher Pasquale

the question XXXX. us Nir, The a margins back of looks half what company you a gross cadence sense Can second? the whether And assuming bit some XX% the what like just were you during facility. ago. about then XX%, see first give the And the the enjoyed versus year pathway a lower new that's a guidance of is thinking. than margin related to little we I'm to

Nir Naor

the one, we long-term very It and the is important basically previous total last which It is processing this potential an milestone our of the capacity. one margin. BLA. So yes, as for good indeed, transitioned we end for the facility running for is designed of drivers fully is which the lower has of so Xx margin, short to it's new fraction said, And mentioned, term, that a year. its capacity, and at in long-term is growth for

about give That benefits of guidance wanted and confident And learning other fully with. we to we're feel it efficiencies. various the said, that ramping up, capacity we

of be the the the is side on higher and Nonetheless, we later then probably long the the year. expect average. half our higher expect from year the benefit And sales, versus this margin first half We term, margin definitely, lower to capacity the in to utilization. of production higher

Christopher Pasquale

Sorry.

we then sequential the dip confirm, a gross second should margin to rebound? and in half a through expect Not first just decreases So year? half

Nir Naor

previous old an the the mean, Right. was selling produced basically, we're which prior in facility. I inventory, --

I said all XX% is new the in second those XX%, for the was be the improvement expectation why we longer guidance bit And facility. definitely year, for impacts, the might said, learning this a of term. lower. our But as So year a again, we're -- of to clear total with

Operator

Mike from Next Jefferies. question is coming from Sarcone

Michael Sarcone

high about XX% the the to I start utilization you baked what's of ends in and to at guess range? and terms on in, can low just guidance, the scenarios health talk care XX%, of environment just the

Karen Zaderej

Yes.

predominantly with looking driven sales to through see team. measured existing we're growth So continuing year, at improvements the by our productivity

not so the same number So reps, our sales down of big think but in growth about driven expansion and up in of team, real or in Core it that few, maybe as by a a the driving it's a productivity, same of Accounts. side, focus

thinking a we out this strategy. in and And our overall build taken we're that's have measured approach to That's we that out. continuing So how we think is drawn about what growth. our think

Michael Sarcone

out the nontrauma? break us think growth us that for provide Okay. that? and And you I thinking of trauma XXXX help between emergent you scheduled about can on guess, you're differential any Can how color in or

Karen Zaderej

process the very and call an hampered very a the trauma, unscheduled we well, every it's just nature large that a by month. Well, market, we've fact think in talked don't the given about in of it's conversion surgeons as trauma take before, procedure, day it's

surgeon more those practice that help a they scheduled, amount of over plan technology, can a new change the be the greater we frame a reach cases adoption growth adopt number so very that growth procedures, to in and their they're but with patterns longer discrete will be work surgeons steps. In And time. with paced in of think with a through fact to scheduled those trauma them to having time you the continue continued as of by the nature

you and the can we cases So in trauma. than be adoption more scheduled what rapid think see process

those So it's a guidance. blend is of our up X overall that what made

Michael Sarcone

in. And I just through elaborate one thinking Can maybe maybe could if seasonality just sales last about squeeze you're the on you how year? and one cadence

Karen Zaderej

Great Yes. question.

has time a past, the the are is active. talked periods trauma during more where as in about we've -- people So peak

to trauma, our cadence a as there saw where a jump was up. so was business big originally second first And you quarter, quarter

was then of then another was fourth third there basically sequentially, to and in down jump the up. to first quarter the year. next quarter, to flat again, down quarter quarter, And flat Second into it

Scheduled cadence. cases follow don't that

to some reconstruction, seeing women seasonality, not will their where shifts prefer reconstruction of and heavy cadence most slight scheduled in A elective that like have during for be our other you're scheduled tend cases end period. procedures, So to breast breast difference be where the driven, the year. they nuance many holiday towards little

will beginning push bit year. and the procedures, -- it But in throughout little the more scheduled slope the steady a of end the elective then the towards lighter and be see through a year a most of year you'll of the at

So we and quarter-to-quarter as again, to we're scheduled going time shifts over the cadence balance in between some cases. trauma see

Operator

today from is Kratky Leerink question Next coming from Mike Partners.

Michael Kratky

on Great alignment And ultimate the could driving to Avance factors utilization? hearing approval are which KOLs extent really and been that? that the you've what agency to drive BLA key BLA. on see having the What's physicians from the the latest that are higher

Karen Zaderej

really long Well, the excited our on It's about to for move a stage us. of continuing getting the submission forward we're in final process BLA. been to

had we laid we forward. the out very for meeting a clear as that a us path with FDA we think productive go So

just So to yes, post-BLA. the our we commercialization are turning to submission, our not sights but

that the Look, helpful we of nerve really regulatory it they as, But data, from standardization, a a middle accounts again, drive use particular and publication, surgeons the that with especially product and product. the adopters care they about protection to then classification be their more premium think, algorithm. to continue RECON surgeon do about in standpoint, care standard a will becoming

with listed is Avance as the be that think that to make the sure again, helpful continue to and as data will we also on work having nonexperimental payers' algorithms. payers We BLA,

grow. So recent that will we in -- the surgeons continue we're the we can of getting their step decision-making. so data, helpful it continue publication make which choice to this wanting be think make that actually was actually they sure sees But informed to as to an first RECON clinical

Michael Kratky

Got one. it. makes just that separate Yes, maybe then sense. one And

You that momentum curious that of Would additional procedures seen could that the some if of you've XXXX? so some procedures great XQ. early far you whether scheduled which in driving be within And saw growth color in category growth? continue were on provide some a in

Karen Zaderej

I areas our script, the Well, application grew. all mentioned all -- of in

really So with of all and the our we across areas pleased of products. were all

wasn't us for it's it out So grow -- this one expansion continued really hit, market. as And growth we've and into QX. for enthusiasm and continue we've entered here to develop in that to seen

Operator

Next Cronin question from is Caitlin Genuity. coming Canaccord from

Caitlin Cronin

a Congrats quarter. on great

reason XXXX could Just start the seems year-over-year guidance, kind up. deceleration tick at the of do with that? even procedure midpoint, to it mix scheduled between like And emergent Any a to trend scheduled time? has to for over imply it really seemed and think you where growth though seems trauma

Karen Zaderej

think at but year, out and we're momentum we take looked measured of We not overall a looking the on taking coming Well, really our this think approach. year approach a to just guidance. again, measured them, great had the about I total at

how so the of we behind And year, far, our we're so skis on it. been get this. that the over was saw out thinking but to the beginning not Again, wanting pleased we've

Caitlin Cronin

the sense. end did for Active And year? Accounts Makes Okay. where

Karen Zaderej

the Account Can somebody Active for number me. up pull

those we'll Active the our into So comes we Core get out. it's Accounts. that's we're generally because Core of revenue Accounts. the that But where on deck it from, the and course of be Accounts focusing in But generally majority from Core will Accounts grow are focusing

thinking Active go in focus sure Accounts. Accounts. make or and care take can to that feeder on can we important our become bigger $XXX,XXX deeper of these how be that have Core it's we about a of we is that to to But accounts real so So pool those continue standard

product surgeon threshold. Account target but it says be and in orders who has got It only in remember, what through means a the we that use the or If for focus months. had you Basically you've X some back to small started pretty is it way, a Active low us. the an not XX past you're may a is committee, account

had we Active X,XXX Accounts. So

very from base. continue drive good to we Accounts as So Core a build build those to pool bigger and have a we

Operator

Next coming JMP. today Citizens question is from Turkaly Dave from

David Turkaly

little them of are kind are I Core that like provide XXX additional if at X When are using the popular and product of the of -- is or accounts just look as procedures common wondered trauma there scheduled, the you you them well may how as detail. how or a many Accounts, doing how AxoGen more how that? us than many

Karen Zaderej

Yes.

they all use because most penetrated So that than be in our of and to -- answer that it's going algorithms. some the products X things. Accounts are Look, most use those all they of our of it's product, hard of all to of Core not more fully but applications

and there's So we that, there's of but I one thing, by -- -- mean, trauma types remember in a of that trauma. trauma, different a call lot lot

become sort of only. Core So Accounts are work focus want a and motor of standard that that Core way complex stage in their are penetration. procedures injuries a those of mixed initially in most early up Core and across There that a Accounts of injuries continue stair trauma And adopt That's why accounts of at adoption. to process Accounts Accounts. There we step and our are we some to only. some are will scheduled short an care Core digital on to think are surgeon nerve

to continue one it out of other all one across surgeons so the is to the is And in who to what a Account, takes then about be a to is revenue. applications. will become it foothold rep's you generally $XXX,XXX expand surgeon get with still job And That's -- Core surgeon.

to but from can I lot there. be and one threshold takes surgeon call, because trauma like the so a there said, it Core And got Account, can Account, Core we a opportunity could is $XXX,XXX, that of that build be only a there be

David Turkaly

I on we're into for of I looking adjusted Nir. maybe assume progress directionally? as in make comment probably direction. Any help great. Congrats what to trending what wondering but loss for or maybe like any bottom not would think be EBITDA EBITDA line. sort on there you that one was I that next maybe 'XX year, on might was full the if the positive look the guess, year, then And you can compared

Nir Naor

Yes. I couple the is specific yes, those say of mean, at. be and and the operational a we scale, would things Revenue -- But figures. are I leverage economies that of I of would the growth benefit most thing. looking this I think important

to continued resource In and focus better on productivity. addition allocation, sales that, force

to that, bit In we a of that couple EBITDA Avance one over $X rolled but for past royalties balance, the one, and them the of addition tailwinds, paying in on they of off is have a the couple of grown at million the end impacting the the years XXXX, cash been other XXXX.

line. this improvement when to are So it when at looking last the be of to those at levers bottom sort I would looking year the you're from that year comes high-level

Operator

question [Operator Instructions] Ross Our coming from next Cantor Fitzgerald. is Osborn from

Ross Osborn

of walk you prepared versus offering. those So seeing through types you your in of cases new AxoGuard classic mentioned used in use being cases? Could HA+ some us maybe remarks, just

Karen Zaderej

Sure.

AxoGuard things slippery One really layers excited the HA+ gliding the is surface. HA we're provide about of a

that you slippery bend a when around your So extremities helps you or to a going nerve about where need is move, layer large when and think joint.

free move through attachments surface to and be can that sure gliding can knees, important those remains across smoothly areas and joint. where make nerve that elbows, So hips, from all that the are

HA+. big great a And surgeons we areas one so AxoGuard the that's see really of the application for that seeing

some want have getting very feedback So be we to about and in product. they're positive the applications it, those gliding how continue they that surface where in see interested to great some seeing areas using

Ross Osborn

Okay. OpEx. Great. on us, for just maybe And lastly then

puts So any it R&D us sounds year marketing this walk like of please? reps. And higher, in would or new through and takes sales you initiatives? line, us the also expanded maybe on But minimal terms remind

Karen Zaderej

to close XXX stay or stay it Yes. XXX few to will it number a from We will close that, a very sales number that reps that -- the up we think from of maybe number. rep but very down as

things, here talked In which shortly. up about new of Avive+, terms the be we've already coming again, will

we'll product, have nerve a new So in parts different to protection. continuing of focus

looking opportunity expansive term in anything several for application aren't all the launch the body work here nerve are nerves are repair because and run continued doing of development big over see at types pretty many in we the new areas a short a injured of is procedures. application, We and but that in in

so medical affairs techniques team and have nerve we And areas. focuses on really expansion new looking in advanced a repair at that

to for anything point, and into. have to at say continues So don't some that areas team is our you that confirmed I this want promising I work new it area, a R&D us to tell expansion see but to on look

Operator

closing comments. back Karen for any Thank or you. over session. We've reached floor the the end of our question-and-answer further I'd like turn to to

Karen Zaderej

thank you. Well,

our the conclude to your pivotal look to sharing our for staff progress future. to we continued you exceptional my with As in our today, been milestones want their express and all the has and the efforts, team I and attention contributions. The forward dedication for call, today's discussed of earnings we achieving we appreciation participants in

Operator

conclude That today's you. teleconference does webcast. Thank

have disconnect your this wonderful may You time, thank a your at participation you line day. We for today. and

AxoGen (AXGN) 5 Mar 242023 Q4 Earnings call transcript