AxoGen Inc. (AXGN) shares plummeted 29.71% 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 significant drop reflects investors' concerns over the company's mixed performance and unexpected leadership change.

The medical technology company, which specializes in peripheral nerve repair, 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 worries, AxoGen announced that Lindsey Hartley would 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 combination of disappointing earnings results and the sudden CFO transition appears to have significantly shaken investor confidence, leading to the sharp pre-market decline.