AxoGen (NASDAQ:AXGN) shares spike +23% after hours following the announcement of higher revenue guidance for third quarter.
The company says it now expects Q3 revenue to be “at least” $30M, above the market estimate of $23.04M. AxoGen initially expected its Q3 revenue to remain below the prior-year levels of $28.6M.
Upside on quarterly revenue guidance points to the lower than expected impact of regional COVID-19 resurgence on the incidence of trauma and surgical procedure, told AxoGen. “The company has benefited from a catch-up of previously deferred procedures during the third quarter, primarily in July and August.”
Q3 2020 result is scheduled to be announced on October 29, after the market close.
See Q2 earnings call presentation
https://seekingalpha.com/news/3614396-axogen-raises-q3-revenue-guidance-stock-up-23-ah
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