Axonics, Inc. - AXNX STOCK NEWS

Axonics, Inc. (NASDAQ: AXNX) reports new findings on urinary incontinence (UI) prevalence in U.S. women, highlighting a surge to approximately 62%, affecting over 78 million women. This data, published in a peer-reviewed journal, shows a significant rise from earlier estimates (38%-53%). Factors like aging and obesity contribute to this increase. The company emphasizes the importance of routine UI screening and plans to launch a national advertising campaign to raise awareness about its treatments, including the rechargeable sacral neuromodulation system.

Axonics, Inc. (NASDAQ: AXNX) reported record quarterly revenue exceeding $50 million for the first time, with 4Q21 net revenue estimated between $52.9 and $53.3 million, a 53% increase year-over-year from $34.8 million. For fiscal year 2021, total company revenue is projected between $180.1 and $180.5 million, marking a 62% growth from $111.5 million in 2020. The company anticipates launching its recharge-free sacral neuromodulation system in 2022, signaling potential market leadership.

Axonics, a medical technology company, announced that CEO Raymond W. Cohen received the 2021 Lifetime Entrepreneurial Achievement Award from the Southern California Biomedical Council. This award highlights Cohen's contributions to the bioscience sector, including innovation and job creation. Axonics develops products for bladder and bowel dysfunction and manufactures locally in Irvine, California. The company addresses significant health issues affecting millions, including overactive bladder and fecal incontinence, and boasts established reimbursement coverage in the U.S. and Europe.

Axonics, Inc. (Nasdaq: AXNX) has been recognized as the fastest-growing company in the 2021 Deloitte Technology Fast 500, highlighting a staggering 87,037% revenue growth over three years. The company reported $111.5 million in revenue for FY 2020, up from $128,000 in FY 2017. CEO Raymond W. Cohen attributed this success to Axonics' mission-driven culture and continuous innovation in developing solutions for bladder and bowel dysfunction.

The Deloitte Fast 500 ranks companies based on fiscal year revenue growth, emphasizing their ability to adapt and thrive.

On November 17, 2021, Deloitte announced the North America Technology Fast 500, highlighting the fastest-growing tech companies from 2017 to 2020. Axonics, Inc. topped the list with an extraordinary growth rate of 87,037%. This ranking showcases a diverse array of sectors, with medical devices and software leading the charge. Overall, the Fast 500 companies exhibited impressive revenue growth, with a median increase of 521%. California's Silicon Valley remains a hub, contributing significantly to the rankings.

Axonics, Inc. (Nasdaq: AXNX), a medical technology company, will participate in the Piper Sandler Virtual Healthcare Conference on December 1, 2021. A pre-recorded fireside chat featuring Axonics senior management will be available on November 22, 2021, at 10:00 AM ET. Axonics specializes in innovative treatments for bladder and bowel dysfunction, with its rechargeable sacral neuromodulation system and the Bulkamid^® urethral bulking agent. The company’s products are widely offered in the U.S. and Europe, providing solutions for millions affected by these conditions.

Axonics, Inc. (AXNX) reported third-quarter 2021 net revenue of $46.9 million, reflecting a 33% increase from the prior year. Sacral neuromodulation (SNM) revenue reached $40.1 million, while Bulkamid generated $6.8 million. Despite the challenges posed by the Covid-19 Delta variant, the company noted significant demand for Bulkamid and positive feedback from 325 physicians trained in recent seminars. However, operating expenses rose to $47.7 million, resulting in a net loss of $17.3 million. Axonics adjusted its 2021 revenue guidance to $177 million, up 59% from 2020.

Axonics, Inc. (NASDAQ: AXNX) has been recognized as the fastest-growing publicly traded company in Orange County by the Orange County Business Journal. The company achieved a remarkable revenue increase from $3.3 million to $150.3 million over the past two years, showcasing a growth rate exceeding 4,500%. Axonics attributes its success to its mission-driven approach and innovation in incontinence solutions, currently employing over 550 staff. The company manufactures its products in Irvine, contributing positively to the local economy.

Axonics, Inc. (NASDAQ: AXNX) will release its third quarter 2021 financial results on November 4, 2021, after market close. Following the release, the company will conduct a conference call at 4:30 p.m. ET, accessible via phone and a live webcast. Axonics specializes in developing products for bladder and bowel dysfunction, including its rechargeable sacral neuromodulation system and Bulkamid^® for urinary incontinence. The company serves a significant market with overactive bladder affecting an estimated 87 million adults in the U.S. and Europe.