Axonics Reports Preliminary 4Q23 and Fiscal Year 2023 Revenue

Axonics, Inc. (Nasdaq: AXNX), a global medical technology company that is developing and commercializing novel products for the treatment of bladder and bowel dysfunction, today reported preliminary unaudited revenue for the fourth quarter and fiscal year ended December 31, 2023.

“The continued strong performance of Axonics reflects the physician community’s preference and enthusiasm for our best-in-class incontinence products,” said Raymond W. Cohen, chief executive officer. “Revenue grew 27% in 4Q23 and 34% in FY23, driven by higher utilization and share of wallet at existing customers and the onboarding of new accounts. In 2023, our team is humbled and gratified that clinicians used Axonics therapies to treat approximately 100,000 incontinence patients globally.”

The preliminary revenue results below are unaudited and remain subject to adjustment. Axonics will provide complete financial results in its Form 10-K filing in February.

4Q23 Revenue

• Total company net revenue is expected to be $109.3 to $109.7 million, an increase of 27% compared to the prior year period.
  • Sacral neuromodulation revenue is expected to be $88.3 to $88.5 million, an increase of 26% compared to the prior year period.
  • Bulkamid revenue is expected to be $21.0 to $21.2 million, an increase of 35% compared to the prior year period.

Fiscal Year 2023 Revenue

• Total company net revenue is expected to be approximately $366.1 million, an increase of 34% compared to fiscal year 2022.
  • Sacral neuromodulation revenue is expected to be approximately $291.7 million, an increase of 31% compared to fiscal year 2022.
  • Bulkamid revenue is expected to be approximately $74.4 million, an increase of 44% compared to fiscal year 2022.

J.P. Morgan Healthcare Conference

Due to the pending transaction with Boston Scientific Corporation (NYSE: BSX) that was announced this morning, Axonics will no longer be participating in the J.P. Morgan healthcare conference.

About Axonics

Axonics is a global medical technology company that is developing and commercializing novel products for adults with bladder and bowel dysfunction. Axonics recently ranked No. 2 on the 2023 Financial Times ranking of the fastest growing companies in the Americas after being ranked No. 1 in 2022.

Axonics sacral neuromodulation systems provide adults with overactive bladder and/or fecal incontinence with long-lived, easy to use, safe, clinically effective therapy. In addition, the company’s best-in-class urethral bulking hydrogel, Bulkamid, provides safe and durable symptom relief to women with stress urinary incontinence. In the U.S., moderate to severe urinary incontinence affects an estimated 28 million women and fecal incontinence affects an estimated 19 million adults. For more information, visit www.axonics.com.