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Sep 30, 2022
Organogenesis Q3 2022 Earnings Report
Net revenue increased slightly, but net income and adjusted EBITDA decreased significantly due to a challenging environment in the physician office setting.
Key Takeaways
Organogenesis Holdings Inc. reported a 3% increase in net revenue for Q3 2022, reaching $116.9 million compared to $113.8 million in Q3 2021. However, net income decreased to $0.2 million from $12.6 million, and adjusted EBITDA decreased to $11.6 million from $21.7 million in the same period.
Net revenue increased by 3% to $116.9 million compared to Q3 2021.
Advanced Wound Care product revenue increased by 2% to $109.5 million.
Surgical & Sports Medicine product revenue increased by 15% to $7.3 million.
Net income decreased to $0.2 million compared to $12.6 million in Q3 2021.
Organogenesis
Organogenesis
Organogenesis Revenue by Segment
Revenue by Segment
Advanced Wound Care Revenue
CapyFin.comSurgical & Sports Medicine Revenue
CapyFin.com Forward Guidance
For the year ending December 31, 2022, the Company expects net revenue between $448 million and $465 million.
Positive Outlook
- Net revenue from Advanced Wound Care products of between $420 million and $432 million.
- Net revenue from the sale of PuraPly products of between $252 million and $260 million.
- Net income in a range of approximately $12 million to $20 million
- Adjusted net income in a range of approximately $22 million to $31 million.
- EBITDA in a range of approximately $31 million to $42 million
Challenges Ahead
- Net revenue of between $448 million and $465 million, representing a decrease of approximately 1% to 4% year-over-year
- Net revenue from Surgical & Sports Medicine products of between $28 million and $33 million, representing a decrease of approximately 11% to 25% year-over-year
- Adjusted EBITDA in a range of approximately $46 million to $58 million.
- Challenging environment in the physician office setting
- Continued competitive pressure from smaller amniotic players
Revenue & Expenses
Visualization of income flow from segment revenue to net income