NasdaqGS:AXNX

Stock Analysis Report

Axonics Modulation Technologies

Executive Summary

Axonics Modulation Technologies, Inc., a medical technology company, focuses on the design, development, and commercialization of sacral neuromodulation solutions (SNM) solutions.

Snowflake

Fundamentals

High growth potential with adequate balance sheet.


Similar Companies

Share Price & News

How has Axonics Modulation Technologies's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

2.0%

AXNX

1.7%

US Medical Equipment

2.3%

US Market


1 Year Return

n/a

AXNX

10.1%

US Medical Equipment

5.6%

US Market

Return vs Industry: Insufficient data to determine how AXNX performed against the US Medical Equipment industry.

Return vs Market: Insufficient data to determine how AXNX performed against the US Market.


Shareholder returns

AXNXIndustryMarket
7 Day2.0%1.7%2.3%
30 Day-34.8%-1.7%-1.0%
90 Day-45.7%-1.7%-0.7%
1 Yearn/a11.0%10.1%7.9%5.6%
3 Yearn/a70.4%65.2%45.6%36.3%
5 Yearn/a128.5%103.2%65.8%47.6%

Price Volatility Vs. Market

How volatile is Axonics Modulation Technologies's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Axonics Modulation Technologies undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: AXNX ($20.48) is trading below our estimate of fair value ($53.1)

Significantly Undervalued: AXNX is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: AXNX is unprofitable, so we can't compare its PE Ratio to the Medical Equipment industry average.

PE vs Market: AXNX is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

Low PEG Ratio: Insufficient data to calculate AXNX's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: AXNX is overvalued based on its PB Ratio (5.1x) compared to the US Medical Equipment industry average (3.7x).


Next Steps

Future Growth

How is Axonics Modulation Technologies forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

67.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AXNX is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2.7%).

Earnings vs Market: AXNX is forecast to become profitable over the next 3 year, which is considered above average market growth.

High Growth Earnings: AXNX's loss is forecast to worsen by 0% next year.

Revenue vs Market: AXNX's revenue (52.4% per year) is forecast to grow faster than the US market (7.3% per year).

High Growth Revenue: AXNX's revenue (52.4% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: AXNX is forecast to be unprofitable in 3 years.


Next Steps

Past Performance

How has Axonics Modulation Technologies performed over the past 5 years?

-100.0%

Last years earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: AXNX is unprofitable, and there is insufficient past data to establish if their past 5-year earnings growth rate was positive.

Accelerating Growth: Unable to compare AXNX's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: AXNX is unprofitable, making it difficult to compare its past year earnings growth to the Medical Equipment industry (28.2%).


Return on Equity

High ROE: AXNX has a negative Return on Equity (-43.18%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: AXNX is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: AXNX is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is Axonics Modulation Technologies's financial position?


Financial Position Analysis

Short Term Liabilities: AXNX's short term assets ($138.0M) exceeds its short term liabilities ($11.3M)

Long Term Liabilities: AXNX's short term assets (138.0M) exceeds its long term liabilities (20.7M)


Debt to Equity History and Analysis

Debt Level: AXNX's debt to equity ratio (17.4%) is considered satisfactory

Reducing Debt: Insufficient data to determine if AXNX's debt to equity ratio has reduced over the past 5 years.


Balance Sheet

Inventory Level: AXNX has a low level of unsold assets or inventory.

Debt Coverage by Assets: AXNX's debt is covered by short term assets (assets are 6.936520x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: AXNX has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if AXNX has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

What is Axonics Modulation Technologies's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.5%markettop25%3.8%industryaverage1.2%forecastin3Years0%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate AXNX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate AXNX's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if AXNX's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if AXNX's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of AXNX's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of Axonics Modulation Technologies's salary, the management and board of directors tenure and is there insider trading?

2.0yrs

Average management tenure


CEO

Ray Cohen (60yo)

6yrs

Tenure

US$1,401,908

Compensation

Mr. Raymond W. Cohen has been the Chief Executive Officer and Director of Axonics Modulation Technologies, Inc. since October 2013. Mr. Cohen has extensive international medical device experience, holding  ...


CEO Compensation Analysis

Compensation vs. Market: Insufficient data to establish whether Ray's total compensation is reasonable compared to companies of similar size in the US market.

Compensation vs Earnings: Ray's compensation has increased whilst the company is unprofitable.


Management Age and Tenure

2.0yrs

Average Tenure

48yo

Average Age

Experienced Management: AXNX's management team is not considered experienced ( 2 years average tenure), which suggests a new team.


Board Age and Tenure

0.9yrs

Average Tenure

59yo

Average Age

Experienced Board: AXNX's board of directors are not considered experienced ( 0.9 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: AXNX insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$106,43906 Aug 19
Raymond Cohen
EntityIndividual
Role
Chief Executive Officer
CEO & Director
Shares3,500
Max PriceUS$30.41
SellUS$213,98903 Jul 19
Michael Williamson
EntityIndividual
Role
Chief Legal Officer
Senior VP
Shares5,000
Max PriceUS$43.00
BuyUS$74,24001 Jul 19
Nancy Snyderman
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares2,000
Max PriceUS$37.12
SellUS$180,06119 Jun 19
Michael Williamson
EntityIndividual
Role
Chief Legal Officer
Senior VP
Shares5,000
Max PriceUS$36.01
BuyUS$12,999,99002 Nov 18
Andera Partners
EntityCompany
Shares866,666
Max PriceUS$15.00
BuyUS$12,999,99002 Nov 18
Gilde Healthcare Partners B.V.
EntityCompany
Shares866,666
Max PriceUS$15.00
BuyUS$7,999,99502 Nov 18
Longitude Capital Management Co., LLC
EntityCompany
Shares533,333
Max PriceUS$15.00
BuyUS$1,999,99502 Nov 18
Cormorant Asset Management, LLC
EntityCompany
Shares133,333
Max PriceUS$15.00

Ownership Breakdown


Management Team

  • Ray Cohen (60yo)

    CEO & Director

    • Tenure: 6yrs
    • Compensation: US$1.40m
  • Prabodh Mathur (59yo)

    Chief Product Development Officer

    • Tenure: 5.4yrs
  • Dan Dearen (56yo)

    President & CFO

    • Tenure: 1.2yrs
    • Compensation: US$524.00k
  • Al Ford (48yo)

    Chief Commercial Officer

    • Tenure: 1.9yrs
  • Michael Williamson (48yo)

    Senior VP

    • Tenure: 0yrs
  • Jay Jiang (46yo)

    Chief Technology Officer

    • Tenure: 6yrs
  • Karen Noblett (56yo)

    Chief Medical Officer

    • Tenure: 2yrs
    • Compensation: US$202.56k
  • John Woock (36yo)

    Chief Marketing Officer

    • Tenure: 1.3yrs
  • Rinda Sama (40yo)

    Chief Operating Officer

    • Tenure: 1.2yrs
    • Compensation: US$605.57k

Board Members

  • Mike Carrel (48yo)

    Independent Director

    • Tenure: 0.7yrs
  • Ray Cohen (60yo)

    CEO & Director

    • Tenure: 6yrs
    • Compensation: US$1.40m
  • Juliet Bakker (57yo)

    Independent Director

    • Tenure: 1.6yrs
    • Compensation: US$91.24k
  • Nancy Snyderman (66yo)

    Independent Director

    • Tenure: 0.5yrs
  • Erik Amble (67yo)

    Independent Director

    • Tenure: 5.6yrs
    • Compensation: US$89.57k
  • Raphaël Wisniewski (48yo)

    Independent Chairman of the Board

    • Tenure: 0yrs
    • Compensation: US$11.67k
  • Bob McNamara (62yo)

    Independent Director

    • Tenure: 0.9yrs
    • Compensation: US$91.57k
  • Jane Kiernan (58yo)

    Independent Director

    • Tenure: 0.5yrs

Company Information

Axonics Modulation Technologies, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Axonics Modulation Technologies, Inc.
  • Ticker: AXNX
  • Exchange: NasdaqGS
  • Founded: 2012
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Market Cap: US$584.188m
  • Shares outstanding: 28.52m
  • Website: https://www.axonicsmodulation.com

Number of Employees


Location

  • Axonics Modulation Technologies, Inc.
  • 26 Technology Drive
  • Irvine
  • California
  • 92618
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AXNXNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDOct 2018
0I3DB (Deutsche Boerse AG)YesCommon StockDEEUROct 2018

Biography

Axonics Modulation Technologies, Inc., a medical technology company, focuses on the design, development, and commercialization of sacral neuromodulation solutions (SNM) solutions. The SNM therapy is primar ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/18 00:50
End of Day Share Price2019/10/17 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.