Axogen vs Cerus
Axogen and Cerus are similar in size: $225m and $234m of revenue in their latest fiscal years. Axogen grew faster (20.2% against 16.1%). Cerus kept more of each dollar of sales as profit: a net margin of -6.7% against -7.0%. Axogen carries less debt relative to equity (37.6% against 130.7%).
| Latest fiscal year | AxogenAXGN, 2025 | CerusCERS, 2025 |
|---|---|---|
| Revenue | $225m | $234m |
| Revenue growth | 20.2% | 16.1% |
| Net income | −$15.7m | −$15.6m |
| Operating margin | -3.5% | -3.7% |
| Net margin | -7.0% | -6.7% |
| Return on equity | -13.5% | -26.0% |
| Free cash flow | −$2.9m | $1.1m |
| Cash | $35.5m | $20.0m |
| Total debt | $48.4m | $84.0m |
| Debt to equity | 37.6% | 130.7% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | 622 | 275 |
| Market value | $2.95bn | $472m |
| Price vs our value range | — | — |
| Moat score | 31 (Weak) | 21 (Weak) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 25 sales |