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Jun 30, 2024
Organogenesis Q2 2024 Earnings Report
Organogenesis reported an increase in revenue driven by Advanced Wound Care products, but experienced a net loss compared to net income in the same quarter last year.
Key Takeaways
Organogenesis Holdings Inc. reported second quarter 2024 financial results with net revenue of $130.2 million, an increase of $12.9 million compared to the second quarter of 2023. However, the company reported a net loss of $17.0 million, compared to net income of $5.3 million for the second quarter of 2023.
Net revenue increased by $12.9 million to $130.2 million compared to Q2 2023.
Advanced Wound Care products revenue increased by 12% compared to Q2 2023.
Surgical & Sports Medicine products revenue decreased by 3% compared to Q2 2023.
Net loss was $17.0 million, a decrease of $22.4 million compared to net income of $5.3 million in Q2 2023.
Revenue by Segment
Forward Guidance
The Company is reaffirming its prior revenue guidance and updating its profitability guidance.
Positive Outlook
- Net revenue between $445.0 million and $470.0 million, representing an increase of approximately 3% to 9% year-over-year.
- Net revenue from Advanced Wound Care products between $415.0 million and $435.0 million, an increase of 2% to 7% year-over-year.
- Net revenue from Surgical & Sports Medicine products between $30.0 million and $35.0 million, an increase of 9% to 27% year-over-year.
Challenges Ahead
- Net loss between $(27.0) million and $(12.0) million.
- Adjusted net income (loss) between $(8.0) million and $7.0 million.
- EBITDA between $(17.0) million and $2.0 million.
- Adjusted EBITDA between $16.0 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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