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Sep 30, 2024
Organogenesis Q3 2024 Earnings Report
Reported financial results for the third quarter ended September 30, 2024.
Key Takeaways
Organogenesis Holdings Inc. reported a net revenue of $115.2 million for Q3 2024, a 6% increase compared to Q3 2023. Net income increased by $9.1 million to $12.3 million. The company updated its revenue guidance for the year ending December 31, 2024, expecting net revenue between $455.0 million and $480.0 million.
Net revenue for Q3 2024 was $115.2 million, up 6% year-over-year.
Advanced Wound Care products revenue increased by 7% compared to Q3 2023.
Net income for Q3 2024 increased to $12.3 million, compared to $3.2 million in Q3 2023.
The company expects net revenue between $455.0 million and $480.0 million for the year ending December 31, 2024.
Organogenesis
Organogenesis
Organogenesis Revenue by Segment
Revenue by Segment
Advanced Wound Care Revenue
CapyFin.comSurgical & Sports Medicine Revenue
CapyFin.com Forward Guidance
The Company is updating its prior revenue guidance and updating its profitability guidance for the year ending December 31, 2024.
Positive Outlook
- Net revenue between $455.0 million and $480.0 million, representing an increase of approximately 5% to 11% year-over-year.
- Net revenue from Advanced Wound Care products between $429.0 million and $452.0 million, an increase of 6% to 11% year-over-year.
Challenges Ahead
- Net loss between $12.3 million and $0.6 million.
- EBITDA between $(1.3) million and $14.4 million.
- Net revenue from Surgical & Sports Medicine products between $26.0 million and $28.0 million, a decrease of 7% to 0% year-over-year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income