Organogenesis Holdings Inc · Q4 2023 earnings

Briefing

Reported financial results for the fourth quarter and the year ended December 31, 2023.

Organogenesis Holdings Inc. reported a net revenue of $99.7 million for Q4 2023, a 14% decrease compared to Q4 2022. The company experienced a net loss of $0.6 million, contrasting with a net income of $7.5 million in the same quarter of the previous year. Despite challenges, Organogenesis is implementing commercial support programs and anticipates a return to revenue growth through customer value demonstration and new product launches.

• Net revenue for Q4 2023 was $99.7 million, a 14% decrease compared to $115.5 million in Q4 2022.
• Advanced Wound Care product revenue decreased by 14% to $93.2 million.
• Surgical & Sports Medicine product revenue decreased by 3% to $6.5 million.
• Net loss was $0.6 million, compared to a net income of $7.5 million in Q4 2022.

Headline financials

Revenue & EPS history

For the year ending December 31, 2024, the Company expects net revenue to be between $445.0 million and $470.0 million, representing an increase of approximately 3% to 9% year-over-year. They also anticipate a net income (loss) between ($10.6) million and $4.6 million and adjusted net income (loss) between ($8.1) million and $7.1 million. Furthermore, they expect EBITDA between $5.8 million and $25.0 million and Adjusted EBITDA between $15.8 million and $35.0 million.