Axogen vs Skinhealth Systems
Skinhealth Systems is the larger business, with $301m of revenue in fiscal 2025 against $225m for Axogen (1.3 times as much). Axogen grew faster (20.2% against -10.0%). Skinhealth Systems kept more of each dollar of sales as profit: a net margin of -3.2% against -7.0%. Axogen carries less debt relative to equity (37.6% against 596.8%).
| Latest fiscal year | AxogenAXGN, 2025 | Skinhealth SystemsSKIN, 2025 |
|---|---|---|
| Revenue | $225m | $301m |
| Revenue growth | 20.2% | -10.0% |
| Net income | −$15.7m | −$9.5m |
| Operating margin | -3.5% | -6.9% |
| Net margin | -7.0% | -3.2% |
| Return on equity | -13.5% | -16.9% |
| Free cash flow | −$2.9m | $37.2m |
| Cash | $35.5m | $233m |
| Total debt | $48.4m | $364m |
| Debt to equity | 37.6% | 596.8% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | $0 |
| Employees | 622 | 613 |
| Market value | $2.95bn | $1.35bn |
| Price vs our value range | — | Above our value range |
| Moat score | 31 (Weak) | 34 (Weak) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 0 sales |