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. 1 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 27th year.
Companies were ranked based on the percentage growth in their revenue from 2017 to 2020. Axonics reported $111.5 million of revenue in fiscal year 2020, compared to $128,000 in fiscal year 2017, representing a growth rate of 87,037%.
Raymond W. Cohen, chief executive officer of Axonics, said, “Axonics is proud to be recognized as the fastest growing company on the Deloitte Fast 500 List. 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 fast-growing company that values diversity, quality, thoughtful innovation, 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 suffering from bladder and bowel dysfunction.”
“Each year the Technology Fast 500 shines a light on leading innovators in technology and this year is no exception,” said Paul Silverglate, vice chair, Deloitte LLP and U.S. technology sector leader. “In the face of innumerable challenges resulting from the pandemic, the best and brightest were able to pivot, reinvent and transform and grow. We celebrate the winning organizations and especially the talented employees driving their success.”
About the 2021 Deloitte Technology Fast 500™
Now in its 27th 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 2017 to 2020.
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.
Based in Irvine, Calif., Axonics is a global medical technology company that is developing and commercializing novel products for the treatment of bladder and bowel dysfunction. The company’s rechargeable sacral neuromodulation (SNM) system provides adults suffering from overactive bladder and/or fecal incontinence with long-lived, easy to use, safe, clinically effective therapy. In addition, Axonics’ best-in-class urethral bulking agent, 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 20 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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"Axonics is proud to be recognized as the fastest growing company on the Deloitte Fast 500 List. The strong growth is a testament to the mission-driven culture of the company, the dedication of our employees, and our commitment to continuous innovation."