Organon & Co. · Q1 2024 earnings

Briefing

Organon reported a solid start to the year, delivering 2024 financial targets and staying true to its mission of improving women's health.

Organon reported a revenue increase of 5% on an as-reported basis and 7% ex-FX, with Women's Health and Biosimilars showing strong growth. The company remains confident in delivering its third year of revenue growth on a constant currency basis and full-year non-GAAP Adjusted EBITDA margins in line with last year, or better.

• Total revenue was $1,622 million, a 5% increase as-reported and 7% increase ex-FX compared to Q1 2023.
• Women’s Health revenue increased 11% as-reported and 12% ex-FX, driven by Nexplanon growth.
• Biosimilars revenue grew 46% as-reported and ex-FX, driven by Ontruzant.
• Non-GAAP Adjusted EBITDA margin was 33.2% compared to 33.7% in Q1 2023.

Headline financials

Revenue & EPS history

Full year 2024 financial guidance is presented on a non-GAAP basis, except revenue. Organon does not provide GAAP financial measures on a forward-looking basis because the company cannot predict with reasonable certainty and without unreasonable effort, the ultimate outcome of legal proceedings, unusual gains and losses, the occurrence of matters creating GAAP tax impacts, and acquisition-related expenses.