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Sep 30, 2023
Organogenesis Q3 2023 Earnings Report
Reported a decrease in revenue but significant improvements in operating profitability and generated strong adjusted EBITDA and cash flow compared to the prior year period.
Key Takeaways
Organogenesis Holdings Inc. reported a decrease in net revenue for Q3 2023, with $108.5 million compared to $116.9 million in Q3 2022. However, the company saw improvements in operating profitability and generated strong adjusted EBITDA and cash flow compared to the prior year period. Net income increased to $3.2 million from $0.2 million year-over-year.
Net revenue of $108.5 million, a decrease of $8.3 million compared to Q3 2022.
Advanced Wound Care products revenue was $101.4 million, a 7% decrease from Q3 2022.
Surgical & Sports Medicine products revenue was $7.2 million, a 2% decrease from Q3 2022.
Net income of $3.2 million, compared to net income of $0.2 million for Q3 2022.
Revenue by Segment
Forward Guidance
For the year ending December 31, 2023, the Company expects net revenue between $433 million and $446 million, representing a decrease of approximately 1% to 4% year-over-year. Net income between $4 million and $9 million and adjusted net income between $11 million and $17 million. EBITDA between $26 million and $37 million and Adjusted EBITDA between $40 million and $51 million.
Positive Outlook
- Net revenue from Advanced Wound Care products between $406 million and $418 million.
- Net revenue from Surgical & Sports Medicine products between $27 million and $29 million.
- Net income between $4 million and $9 million
- Adjusted net income between $11 million and $17 million.
- EBITDA between $26 million and $37 million
Challenges Ahead
- Net revenue between $433 million and $446 million, representing a decrease of approximately 1% to 4% year-over-year.
- Net revenue from Advanced Wound Care products a decrease of 1% to 4% year-over-year
- Net revenue from Surgical & Sports Medicine products an approximately 6% decrease to 0% increase 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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