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Sep 30, 2021
Organogenesis Q3 2021 Earnings Report
Organogenesis reported third quarter 2021 financial results, with revenue up 13% year-over-year and net income of $12.6 million.
Key Takeaways
Organogenesis Holdings Inc. reported a 13% increase in net revenue for the third quarter of 2021, reaching $113.8 million. Net income was $12.6 million, and adjusted EBITDA was $21.7 million. The company reaffirmed its full-year revenue guidance.
Net revenue increased by 13% to $113.8 million compared to Q3 2020.
Advanced Wound Care product revenue increased by 19% to $107.3 million.
Surgical & Sports Medicine product revenue decreased by 41% to $6.4 million.
Net income was $12.6 million, a decrease compared to $20.8 million in Q3 2020.
Revenue by Segment
Forward Guidance
For the twelve months ended December 31, 2021, the Company now expects net revenue of between $458 million and $470 million.
Positive Outlook
- Net revenue of between $458 million and $470 million, representing an increase of approximately 35% to 39% year-over-year
- Net revenue from Advanced Wound Care products of between $425 million and $434 million, representing an increase of approximately 44% to 47% year-over-year
- Net revenue from the sale of PuraPly products of between $196 million and $204 million, representing an increase of approximately 33% to 39% year-over-year
- GAAP net income positive for the twelve months ended December 31, 2021.
- Adjusted EBITDA positive for the twelve months ended December 31, 2021.
Challenges Ahead
- Net revenue from Surgical & Sports Medicine products of between $33 million and $36 million, representing a decrease of approximately 18% to 24% year-over-year
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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