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Side-by-side financial comparison of Axogen, Inc. (AXGN) and RE/MAX Holdings, Inc. (RMAX). Click either name above to swap in a different company.

RE/MAX Holdings, Inc. is the larger business by last-quarter revenue ($71.1M vs $61.5M, roughly 1.2× Axogen, Inc.). RE/MAX Holdings, Inc. runs the higher net margin — 2.0% vs -31.9%, a 33.9% gap on every dollar of revenue. On growth, Axogen, Inc. posted the faster year-over-year revenue change (26.6% vs -1.8%). RE/MAX Holdings, Inc. produced more free cash flow last quarter ($33.5M vs $-1.4M). Over the past eight quarters, Axogen, Inc.'s revenue compounded faster (13.3% CAGR vs -4.7%).

Axogen is a developer of surgical solutions, including human tissue grafts, based in Alachua, Florida. Axogen products are designed to remedy peripheral nerve damage. In 2013 the company raised $18 million in its initial public offering (IPO). Axogen uses a cell graft technology AVANCE to mimic a human nerve. The company also creates nerve connectors and soft tissue membranes. The company reports sensory and movement recovery in 87 percent of patients with peripheral nerve injuries. Axogen is...

RE/MAX is an international real estate franchise operating in over 100 countries and territories that, in 2015, had over 100,000 agents in 6,800 offices.

AXGN vs RMAX — Head-to-Head

Bigger by revenue
RMAX
RMAX
1.2× larger
RMAX
$71.1M
$61.5M
AXGN
Growing faster (revenue YoY)
AXGN
AXGN
+28.4% gap
AXGN
26.6%
-1.8%
RMAX
Higher net margin
RMAX
RMAX
33.9% more per $
RMAX
2.0%
-31.9%
AXGN
More free cash flow
RMAX
RMAX
$34.9M more FCF
RMAX
$33.5M
$-1.4M
AXGN
Faster 2-yr revenue CAGR
AXGN
AXGN
Annualised
AXGN
13.3%
-4.7%
RMAX

Income Statement — Q1 FY2026 vs Q4 FY2025

Metric
AXGN
AXGN
RMAX
RMAX
Revenue
$61.5M
$71.1M
Net Profit
$-19.6M
$1.4M
Gross Margin
75.2%
Operating Margin
20.2%
13.1%
Net Margin
-31.9%
2.0%
Revenue YoY
26.6%
-1.8%
Net Profit YoY
-410.8%
-75.2%
EPS (diluted)
$-0.38

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
AXGN
AXGN
RMAX
RMAX
Q1 26
$61.5M
Q4 25
$59.9M
$71.1M
Q3 25
$60.1M
$73.2M
Q2 25
$56.7M
$72.8M
Q1 25
$48.6M
$74.5M
Q4 24
$49.4M
$72.5M
Q3 24
$48.6M
$78.5M
Q2 24
$47.9M
$78.5M
Net Profit
AXGN
AXGN
RMAX
RMAX
Q1 26
$-19.6M
Q4 25
$-13.2M
$1.4M
Q3 25
$708.0K
$4.0M
Q2 25
$579.0K
$4.7M
Q1 25
$-3.8M
$-2.0M
Q4 24
$450.0K
$5.8M
Q3 24
$-1.9M
$966.0K
Q2 24
$-1.9M
$3.7M
Gross Margin
AXGN
AXGN
RMAX
RMAX
Q1 26
75.2%
Q4 25
74.1%
Q3 25
76.6%
Q2 25
74.2%
Q1 25
71.9%
Q4 24
76.1%
Q3 24
74.9%
Q2 24
73.8%
Operating Margin
AXGN
AXGN
RMAX
RMAX
Q1 26
20.2%
Q4 25
-16.3%
13.1%
Q3 25
3.2%
25.0%
Q2 25
3.0%
19.3%
Q1 25
-3.4%
7.2%
Q4 24
4.1%
5.9%
Q3 24
-0.6%
19.4%
Q2 24
-0.9%
20.6%
Net Margin
AXGN
AXGN
RMAX
RMAX
Q1 26
-31.9%
Q4 25
-22.0%
2.0%
Q3 25
1.2%
5.4%
Q2 25
1.0%
6.4%
Q1 25
-7.9%
-2.6%
Q4 24
0.9%
8.0%
Q3 24
-3.8%
1.2%
Q2 24
-4.0%
4.7%
EPS (diluted)
AXGN
AXGN
RMAX
RMAX
Q1 26
$-0.38
Q4 25
$-0.28
Q3 25
$0.01
Q2 25
$0.01
Q1 25
$-0.08
Q4 24
$-0.00
Q3 24
$-0.04
Q2 24
$-0.04

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
AXGN
AXGN
RMAX
RMAX
Cash + ST InvestmentsLiquidity on hand
$82.7M
$118.7M
Total DebtLower is stronger
$432.2M
Stockholders' EquityBook value
$244.8M
$452.4M
Total Assets
$289.5M
$582.5M
Debt / EquityLower = less leverage
0.96×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AXGN
AXGN
RMAX
RMAX
Q1 26
$82.7M
Q4 25
$41.5M
$118.7M
Q3 25
$35.8M
$107.5M
Q2 25
$29.9M
$94.3M
Q1 25
$22.1M
$89.1M
Q4 24
$33.5M
$96.6M
Q3 24
$24.5M
$83.8M
Q2 24
$21.1M
$66.1M
Total Debt
AXGN
AXGN
RMAX
RMAX
Q1 26
Q4 25
$48.4M
$432.2M
Q3 25
$48.2M
$433.3M
Q2 25
$47.9M
$434.4M
Q1 25
$47.7M
$435.3M
Q4 24
$47.5M
$436.2M
Q3 24
$47.3M
$437.2M
Q2 24
$47.0M
$438.1M
Stockholders' Equity
AXGN
AXGN
RMAX
RMAX
Q1 26
$244.8M
Q4 25
$128.8M
$452.4M
Q3 25
$120.8M
$448.1M
Q2 25
$112.3M
$442.4M
Q1 25
$105.4M
$433.5M
Q4 24
$103.9M
$429.5M
Q3 24
$99.4M
$423.1M
Q2 24
$95.7M
$418.4M
Total Assets
AXGN
AXGN
RMAX
RMAX
Q1 26
$289.5M
Q4 25
$221.7M
$582.5M
Q3 25
$216.4M
$582.2M
Q2 25
$205.5M
$574.8M
Q1 25
$196.2M
$571.4M
Q4 24
$203.7M
$581.6M
Q3 24
$192.0M
$578.6M
Q2 24
$188.9M
$571.4M
Debt / Equity
AXGN
AXGN
RMAX
RMAX
Q1 26
Q4 25
0.38×
0.96×
Q3 25
0.40×
0.97×
Q2 25
0.43×
0.98×
Q1 25
0.45×
1.00×
Q4 24
0.46×
1.02×
Q3 24
0.48×
1.03×
Q2 24
0.49×
1.05×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
AXGN
AXGN
RMAX
RMAX
Operating Cash FlowLast quarter
$40.9M
Free Cash FlowOCF − Capex
$-1.4M
$33.5M
FCF MarginFCF / Revenue
-2.3%
47.1%
Capex IntensityCapex / Revenue
10.4%
Cash ConversionOCF / Net Profit
28.39×
TTM Free Cash FlowTrailing 4 quarters
$9.1M
$56.8M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AXGN
AXGN
RMAX
RMAX
Q1 26
Q4 25
$3.0M
$40.9M
Q3 25
$3.2M
$17.7M
Q2 25
$7.7M
$4.6M
Q1 25
$-13.2M
$5.7M
Q4 24
$8.7M
$59.7M
Q3 24
$3.9M
$17.6M
Q2 24
$4.2M
$15.9M
Free Cash Flow
AXGN
AXGN
RMAX
RMAX
Q1 26
$-1.4M
Q4 25
$1.8M
$33.5M
Q3 25
$1.7M
$16.4M
Q2 25
$7.0M
$2.9M
Q1 25
$-13.4M
$4.0M
Q4 24
$8.1M
$53.0M
Q3 24
$3.3M
$16.3M
Q2 24
$3.3M
$14.0M
FCF Margin
AXGN
AXGN
RMAX
RMAX
Q1 26
-2.3%
Q4 25
3.0%
47.1%
Q3 25
2.8%
22.4%
Q2 25
12.4%
4.0%
Q1 25
-27.7%
5.3%
Q4 24
16.3%
73.2%
Q3 24
6.8%
20.8%
Q2 24
6.8%
17.8%
Capex Intensity
AXGN
AXGN
RMAX
RMAX
Q1 26
Q4 25
2.1%
10.4%
Q3 25
2.5%
1.8%
Q2 25
1.3%
2.2%
Q1 25
0.5%
2.3%
Q4 24
1.4%
9.1%
Q3 24
1.2%
1.7%
Q2 24
1.9%
2.4%
Cash Conversion
AXGN
AXGN
RMAX
RMAX
Q1 26
Q4 25
28.39×
Q3 25
4.55×
4.45×
Q2 25
13.35×
0.97×
Q1 25
Q4 24
19.41×
10.28×
Q3 24
18.22×
Q2 24
4.29×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

AXGN
AXGN

Segment breakdown not available.

RMAX
RMAX

Franchising Segment$50.1M70%
Broker Fees$13.9M20%
Annual Dues$7.4M10%

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