Axonics Modulation Technologies Inc Stock Research

Market Summary

USD48.54-1.11

Market Closed

-2.24%

AXNX Alerts

1 major insider sales recently.
Big jump in Revenue (Y/Y)
Big jump in Earnings (Y/Y)
Losses in recent quarter

AXNX Stock Price

AXNX RSI Chart

AXNX Valuation

Market Cap

2.4B

Price/Earnings (Trailing)

-52.56

Price/Sales (Trailing)

8.22

EV/EBITDA

-59.11

Price/Free Cashflow

274.81

AXNX Price/Sales (Trailing)

AXNX Profitability

EBT Margin

-22.77%

Return on Equity

-10.47%

Return on Assets

-9.05%

Free Cashflow Yield

0.36%

AXNX Fundamentals

AXNX Revenue

Revenue (TTM)

295.9M

Revenue Y/Y

45.91%

Revenue Q/Q

-17.77%

AXNX Earnings

Earnings (TTM)

-46.3M

Earnings Y/Y

59.2%

Earnings Q/Q

-1.5K%

Price Action

52 Week Range

46.5779.92

(Low)(High)

Last 7 days

-3.6%

Last 30 days

-15.5%

Last 90 days

-15.4%

Trailing 12 Months

-3.0%

AXNX Financial Health

Current Ratio

7.13

Debt/Equity

2e-4

Debt/Cashflow

-181.46

AXNX Investor Care

Shares Dilution (1Y)

6.61%

Diluted EPS (TTM)

-0.97

Peers (Alternatives to Axonics Modulation Tech)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
SYK	110.8B	19.0B	-8.78%	16.43%	46.98	6.01	8.73%	30.37%
ISRG	107.5B	6.4B	4.05%	37.44%	81.96	16.72	8.89%	-20.19%
BSX	74.1B	13.0B	-0.08%	27.20%	106.12	5.84	7.26%	-32.95%
BDX	71.3B	18.8B	-6.73%	-3.13%	44.09	3.79	-1.96%	-15.83%
EW	49.7B	5.5B	-6.18%	-16.80%	33.38	9.03	2.68%	-3.23%
MID-CAP
SWAV	7.2T	557.2M	-1.64%	66.40%	82.2K	16.8K	86.42%	730.06%
PEN	11.7B	884.6M	7.85%	115.97%	1.8K	13.2	13.08%	200.12%
GMED	5.9B	1.1B	-8.20%	-19.98%	34.14	5.75	11.20%	53.04%
IRTC	3.6B	430.0M	-11.89%	-12.63%	-34.73	8.45	26.13%	15.73%
TNDM	1.7B	794.7M	-29.15%	-60.56%	-8.43	2.16	7.73%	-3556.34%
SMALL-CAP
ATEC	1.6B	389.0M	-3.76%	82.19%	-10.63	4.18	44.08%	6.96%
SILK	1.2B	150.7M	-30.80%	0.49%	-21.65	7.87	40.31%	1.80%
AVNS	1.1B	814.3M	-20.14%	-16.22%	24.47	1.34	6.96%	121.89%
CSII	839.3M	239.8M	0.70%	0.15%	-22.16	3.5	-4.74%	-31.15%

Financials for Axonics Modulation Tech

Income Statement (Last 12 Months)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	8.1%	295,932,000	273,702,000	240,919,000	217,448,000	194,337,000
Gross Profit	9.7%	216,923,000	197,665,000	170,089,000	150,023,000	128,561,000
Operating Expenses	3.8%	272,702,000	262,611,000	249,106,000	229,167,000	202,286,000
S&GA Expenses	6.1%	165,610,000	156,019,000	143,533,000	131,894,000	117,924,000
R&D Expenses	-9.2%	31,230,000	34,410,000	36,489,000	37,201,000	39,164,000
EBITDA	26.3%	-50,594,000	-68,627,000	-68,807,000	-66,975,000	-
EBITDA Margin	35.1%	-0.18	-0.28	-0.32	-0.34	-
Earnings Before Taxes	22.0%	-48,592,000	-62,316,000	-80,112,000	-80,062,000	-80,006,000
EBT Margin	31.5%	-0.23	-0.33	-0.37	-0.41	-
Interest Expenses	-100.0%	0.00	1,000	1,000	2,000	2,009,000
Net Income	22.5%	-46,278,000	-59,698,000	-75,530,000	-76,528,000	-80,233,000
Net Income Margin	30.4%	-0.22	-0.31	-0.35	-0.41	-
Free Cahsflow	106.1%	968,000	-15,910,000	-22,472,000	-33,319,000	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	1.0%	666	659	632	514	526
Current Assets	1.0%	470	465	449	313	307
Cash Equivalents	0.5%	240	239	241	203	213
Inventory	18.5%	66.00	56.00	58.00	58.00	62.00
Net PPE	3.2%	7.00	7.00	7.00	7.00	7.00
Goodwill	2.3%	97.00	94.00	87.00	95.00	103
Liabilities	-0.1%	89.00	89.00	83.00	76.00	62.00
Current Liabilities	1.4%	66.00	65.00	61.00	30.00	26.00
Shareholder's Equity	1.1%	577	570	550	438	463
Retained Earnings	-2.5%	-383	-374	-374	-358	-337
Additional Paid-In Capital	1.3%	982	970	961	821	812
Accumulated Depreciation	8.0%	7.00	7.00	6.00	-	-
Shares Outstanding	1.1%	50.00	50.00	49.00	47.00	47.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	262.8%	12.00	3.00	-12.94	-19.78	-30.89
Share Based Compensation	11.2%	36.00	32.00	30.00	29.00	27.00
Cashflow From Investing	0.8%	-119	-120	-111	-12.69	-2.43
Cashflow From Financing	0.4%	134	134	134	4.00	116

Risks for AXNX

What is the probability of a big loss on AXNX?

75.1%

Probability that Axonics Modulation Tech stock will be more than 20% underwater in next one year

56.4%

Probability that Axonics Modulation Tech stock will be more than 30% underwater in next one year.

44.0%

Probability that Axonics Modulation Tech stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does AXNX drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Axonics Modulation Tech was unfortunately bought at previous high price.

Drawdowns

Returns for AXNX

Cumulative Returns on AXNX

8.5%

3-Year Cumulative Returns

Which funds bought or sold AXNX recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-23	ROYCE & ASSOCIATES LP	reduced	-31.76	-2,150,570	3,164,480	0.03%
2023-05-22	AMERIPRISE FINANCIAL INC	reduced	-37.00	-14,875,900	18,160,100	0.01%
2023-05-22	PUTNAM INVESTMENTS LLC	added	0.33	-1,009,090	7,090,670	0.01%
2023-05-18	JPMORGAN CHASE & CO	added	9.68	-1,029,940	22,928,100	-%
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	reduced	-30.19	-2,888,000	4,500,000	0.01%
2023-05-17	Thrivent Financial for Lutherans	added	2.19	-1,501,000	12,340,000	0.03%
2023-05-17	Advisory Services Network, LLC	unchanged	-	-2,017	13,804	-%
2023-05-17	VIRGINIA RETIREMENT SYSTEMS ET AL	added	18.87	41,214	787,878	0.01%
2023-05-16	SUSQUEHANNA INTERNATIONAL GROUP, LLP	added	125	587,551	1,197,160	-%
2023-05-16	Rockefeller Capital Management L.P.	added	41.04	39,000	208,000	-%

Latest Funds Activity

Are funds buying AXNX calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own AXNX

No. of Funds

Axonics Modulation Tech News

Schedule 13G FIlings of Axonics Modulation Tech

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Mar 10, 2023	vanguard group inc	10.28%	5,092,888	SC 13G/A
Feb 09, 2023	fmr llc	-	0	SC 13G/A
Feb 09, 2023	vanguard group inc	9.82%	4,863,283	SC 13G/A
Jan 31, 2023	blackrock inc.	7.3%	3,630,843	SC 13G/A
Jun 06, 2022	cooperatieve gilde healthcare iv u.a.	0%	0	SC 13G/A
Feb 14, 2022	credit suisse ag/	4.90%	2,273,198	SC 13G/A
Feb 09, 2022	vanguard group inc	6.27%	2,902,696	SC 13G
Feb 09, 2022	fmr llc	-	0	SC 13G/A
Feb 03, 2022	blackrock inc.	7.6%	3,525,549	SC 13G/A
Apr 08, 2021	alfred e. mann foundation for scientific research	4.0%	1,602,970	SC 13G/A

AXNX Fair Value

Recent SEC filings of Axonics Modulation Tech

View All Filings

Date Filed	Form Type	Document
May 18, 2023	424B5	Prospectus Filed
May 18, 2023	8-K	Current Report
May 05, 2023	S-3ASR	S-3ASR
May 02, 2023	10-Q	Quarterly Report
May 01, 2023	8-K	Current Report
May 01, 2023	DEF 14A	DEF 14A
Apr 25, 2023	4	Insider Trading
Apr 24, 2023	4	Insider Trading
Apr 20, 2023	144	Notice of Insider Sale Intent
Apr 06, 2023	8-K	Current Report

Latest Insider Trading transactions for AXNX

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-04-21	Dearen Danny L.	sold	-1,204,140	60.2069	-20,000	president & cfo
2023-04-21	Dearen Danny L.	acquired	187,422	14.19	13,208	president & cfo
2023-04-20	Dearen Danny L.	acquired	28,394	14.19	2,001	president & cfo
2023-04-20	Dearen Danny L.	sold	-120,073	60.0063	-2,001	president & cfo
2023-03-31	Dearen Danny L.	sold	-829,103	55.2735	-15,000	president & cfo
2023-03-31	Dearen Danny L.	acquired	240,031	16.0021	15,000	president & cfo
2023-02-21	Sama Rinda	sold	-191,750	56.53	-3,392	chief operating officer
2023-02-21	Sama Rinda	sold	-1,121,410	56.2705	-19,929	chief operating officer
2023-02-01	Ford Alfred J Jr	sold	-225,750	60.9311	-3,705	chief commercial officer
2023-02-01	Dearen Danny L.	sold	-197,782	60.9311	-3,246	president & cfo

About Axonics Modulation Tech

Raymond W. Cohen

www.axonicsmodulation.com

520

Axonics, Inc., a medical technology company, engages in the development and commercialization of sacral neuromodulation (SNM) systems. The company's SNM systems are used to treat patients with overactive bladder, including urinary urge incontinence and urinary urgency frequency, as well as fecal incontinence and non-obstructive urinary retention. Its proprietary rechargeable SNM System (r-SNM) delivers mild electrical pulses to the targeted sacral nerve to restore normal communication to and from the brain to reduce the symptoms of bladder and bowel dysfunction. The company also offers Bulkamid, a urethral bulking agent to treat female stress urinary incontinence. It sells its products through a direct salesforce and distributors in the United States, the United Kingdom, Germany, the Netherlands, Nordic countries, and internationally. The company was formerly known as Axonics Modulation Technologies, Inc. and changed its name to Axonics, Inc. in March 2021. Axonics, Inc. was incorporated in 2012 and is based in Irvine, California.

AXNX Income Statement

2023-03-31

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net revenue	$ 70,650	$ 48,420
Cost of goods sold	18,150	15,178
Gross profit	52,500	33,242
Operating expenses
Research and development	8,056	11,236
General and administrative	12,168	10,013
Sales and marketing	42,654	33,063
Amortization of intangible assets	2,222	2,463
Acquisition-related costs	1,766	0
Total operating expenses	66,866	56,775
Loss from operations	(14,366)	(23,533)
Other income (expense)
Interest and other income	3,628	43
Interest and other expense	683	(289)
Other income (expense), net	4,311	(246)
Loss before income tax benefit	(10,055)	(23,779)
Income tax benefit	(807)	(1,111)
Net loss	(9,248)	(22,668)
Foreign currency translation adjustment	3,071	(4,920)
Comprehensive loss	$ (6,177)	$ (27,588)
Net loss per share, basic (in USD per share)	$ (0.19)	$ (0.50)
Net loss per share, diluted (in USD per share)	$ (0.19)	$ (0.50)
Weighted-average shares used to compute basic net loss per share (in shares)	48,579,084	45,139,038
Weighted-average shares used to compute diluted net loss per share (in shares)	48,579,084	45,139,038

AXNX Balance Sheet

2023-03-31

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 240,105	$ 238,846
Short-term investments	116,957	118,365
Accounts receivable, net of allowance for credit losses of $322 and $321 at March 31, 2023 and December 31, 2022, respectively	40,200	44,817
Inventory, net	66,067	55,765
Prepaid expenses and other current assets	6,342	7,282
Total current assets	469,671	465,075
Property and equipment, net	7,017	6,798
Intangible assets, net	85,888	86,253
Other assets	6,534	6,813
Goodwill	96,581	94,414
Total assets	665,691	659,353
Current liabilities
Accounts payable	14,737	9,070
Accrued liabilities	6,640	6,520
Accrued compensation and benefits	8,836	15,495
Operating lease liability, current portion	1,557	1,562
Other current liabilities	34,400	32,600
Total current liabilities	66,170	65,247
Operating lease liability, net of current portion	7,178	7,555
Deferred tax liabilities, net	15,737	16,412
Total liabilities	89,085	89,214
Commitments and contingencies (Note 3)
Stockholders’ equity
Preferred stock, par value $0.0001 per share; 10,000,000 shares authorized, no shares issued and outstanding at March 31, 2023 and December 31, 2022	0	0
Common stock, par value $0.0001, 75,000,000 shares authorized at March 31, 2023 and December 31, 2022; 50,110,667 and 49,546,727 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively	5	5
Additional paid-in capital	982,189	969,545
Accumulated deficit	(383,512)	(374,264)
Accumulated other comprehensive loss	(22,076)	(25,147)
Total stockholders’ equity	576,606	570,139
Total liabilities and stockholders’ equity	$ 665,691	$ 659,353