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Mar 31, 2023
Organogenesis Q1 2023 Earnings Report
Reported first quarter financial results, showing revenue increase driven by Advanced Wound Care products, but net loss compared to the previous year.
Key Takeaways
Organogenesis Holdings Inc. reported a net revenue increase of 11% to $107.6 million for Q1 2023, driven by Advanced Wound Care products, which increased by 12%. However, the company experienced a net loss of $3.0 million, compared to a net loss of $0.9 million in Q1 2022.
Net revenue increased by 11% to $107.6 million compared to Q1 2022.
Advanced Wound Care products revenue increased by 12% to $100.9 million.
Surgical & Sports Medicine products revenue decreased by 4% to $6.7 million.
Net loss was $3.0 million, compared to a net loss of $0.9 million in Q1 2022.
Revenue by Segment
Forward Guidance
For the year ending December 31, 2023, the company expects net revenue between $454 million and $466 million, representing an increase of approximately 1% to 3% year-over-year. Net income is projected between $3 million and $11 million, with adjusted net income between $8 million and $16 million. EBITDA is expected to be between $28 million and $39 million, and Adjusted EBITDA between $38 million and $49 million.
Positive Outlook
- Net revenue between $454 million and $466 million, representing an increase of approximately 1% to 3% year-over-year
- Net revenue from Advanced Wound Care products between $424 million and $432 million, an increase of 0% to 2% year-over-year
- Net revenue from Surgical & Sports Medicine products between $30 million and $34 million, an increase of approximately 5% to 19% year-over-year
- Net income between $3 million and $11 million
- Adjusted net income between $8 million and $16 million
Challenges Ahead
- EBITDA between $28 million and $39 million
- Adjusted EBITDA between $38 million and $49 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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