AxoGen Inc. (AXGN) shares tumbled 5.98% in pre-market trading on Thursday following the release of its 2025 first-quarter financial results and the announcement of a Chief Financial Officer transition.

The company reported Q1 revenue of $48.6 million, slightly beating the analyst estimate of $48.3 million. However, AxoGen's bottom line fell short of expectations, with an adjusted net loss of $900,000 compared to the estimated profit of $37,000. The adjusted EBITDA of $2.9 million also missed the analyst forecast of $3.95 million.

Adding to investor concerns, AxoGen announced a leadership change, with Lindsey Hartley set to succeed Nir Naor as Chief Financial Officer effective May 12. While the company maintains its full-year revenue growth guidance of 15% to 17%, the mixed financial results and management transition appear to have shaken investor confidence, leading to the significant pre-market decline.