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Jason Bedford

Research Analyst at Raymond James & Associates, Inc.

Jason Bedford's questions to Axogen (AXGN) leadership

Question · Q4 2025

Jason Bedford asked if AxoGen's 2026 growth guidance assumes any direct step-up in growth related to the BLA approval, particularly in light of physician training metrics. He also inquired whether the universe of 780 high potential accounts could expand beyond its current size in the future.

Answer

CEO Michael Dale clarified that the BLA approval was an assumed part of the strategic plan, and therefore, the growth implicit in the guidance is based on that existing assumption, not an explicit step-up. Rick Ditto confirmed that the universe of high potential accounts is expected to grow in the future as AxoGen increases its target indications and procedures, causing the high potential algorithm to evolve.

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