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Mar 31, 2024
Organogenesis Q1 2024 Earnings Report
Organogenesis reported first quarter results with revenue exceeding guidance
Key Takeaways
Organogenesis Holdings Inc. reported a strong start to 2024, with first quarter revenue exceeding the high-end of revenue guidance. Net revenue increased by $2.3 million compared to the first quarter of 2023. The company is reaffirming its prior guidance for fiscal year 2024.
Net revenue for the first quarter of 2024 was $110.0 million, an increase of $2.3 million compared to the first quarter of 2023.
Net loss for the first quarter of 2024 was $2.1 million, compared to a net loss of $3.0 million for the first quarter of 2023.
Adjusted EBITDA was $2.6 million for the first quarter of 2024, compared to $3.8 million for the first quarter of 2023.
The Company had $89.3 million in cash, cash equivalents and restricted cash as of March 31, 2024.
Revenue by Segment
Forward Guidance
For the year ending December 31, 2024 the Company is reaffirming its prior guidance for fiscal year 2024.
Positive Outlook
- Net revenue between $445.0 million and $470.0 million, representing an increase of approximately 3% to 9% year-over-year, as compared to net revenue of $433.1 million for the year ended December 31, 2023.
- Net revenue from Advanced Wound Care products between $415.0 million and $435.0 million, an increase of 2% to 7% year-over-year as compared to net revenue of $405.5 million for the year ended December 31, 2023.
- Net revenue from Surgical & Sports Medicine products between $30.0 million and $35.0 million, an increase of 9% to 27% year-over-year as compared to net revenue of $27.6 million for the year ended December 31, 2023.
- Net (loss) income between ($10.6) million and $4.6 million and adjusted net (loss) income between ($8.1) million and $7.1 million.
- EBITDA between $5.8 million and $25.0 million and Adjusted EBITDA between $15.8 million and $35.0 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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