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 announced it ranked No. 4 on the Deloitte Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 28th year.
Companies were ranked based on the percentage growth in their revenue from 2018 to 2021. Axonics reported $180.3 million of revenue in fiscal year 2021 compared to $707,000 in fiscal year 2018, representing a growth rate of 25,401%.
This is the second year in a row of Axonics being ranked in the top 5 fastest growing companies in North America. Last year, Axonics ranked No. 1 on the 2021 Deloitte Technology Fast 500.
Raymond W. Cohen, chief executive officer of Axonics, said, “Axonics is proud to be recognized as one of the fastest growing companies in North America. The strong growth of Axonics is a testament to the mission-driven culture of the company, the dedication of our employees, and our commitment to continuous innovation. We have built a company that values diversity, quality, integrity, and teamwork. We remain focused on increasing awareness for Axonics’ best-in-class incontinence solutions, which have the potential to significantly improve the quality of life for millions of adults with bladder and bowel dysfunction.”
“This year’s Technology Fast 500 list is a true reflection of some of today’s most determined and inspiring pioneers who have prospered by anticipating what’s next, understanding what’s needed to succeed and driving creativity forward,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s audit and assurance practice. “Representing all facets of technology, the winners have shown they not only have the vision but can also expertly manage their companies through rapid growth. We congratulate each winner on their impressive achievements.”
About the 2022 Deloitte Technology Fast 500
Now in its 28th year, the Deloitte Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2018 to 2021.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
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. 1 on the 2022 Financial Times ranking of the 500 fastest growing companies in the Americas and No. 4 on the 2022 Deloitte Technology Fast 500.
Axonics sacral neuromodulation (SNM) systems provide adults suffering from 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 (SUI). Overactive bladder affects an estimated 87 million adults in the U.S. and Europe, with an additional 40 million adults estimated to suffer from fecal incontinence. SUI affects an estimated 29 million women in the U.S. alone. Axonics’ clinically proven products are offered at hundreds of medical centers across the U.S. and abroad. Reimbursement coverage is well established in the U.S. and is a covered service in most European countries. For more information, visit www.axonics.com.
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"The strong growth of Axonics is a testament to the mission-driven culture of the company, the dedication of our employees, and our commitment to continuous innovation."