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Dec 31, 2020
Organogenesis Q4 2020 Earnings Report
Reported financial results for Q4 and Fiscal Year 2020 and introduced fiscal year 2021 guidance.
Key Takeaways
Organogenesis Holdings Inc. reported a strong fourth quarter with a 43% increase in net revenue compared to the same period last year. Net income increased by $22.9 million, and adjusted EBITDA saw a significant rise of $24.1 million.
Net revenue for the fourth quarter of 2020 was $106.8 million, a 43% increase compared to $74.6 million for the fourth quarter of 2019.
Advanced Wound Care products revenue increased by 48% to $93.6 million.
Surgical & Sports Medicine products revenue increased by 17% to $13.2 million.
Net income for the fourth quarter of 2020 was $18.5 million, compared to a net loss of $4.4 million for the fourth quarter of 2019.
Revenue by Segment
Forward Guidance
The Company expects net revenue of between $390 million and $405 million for the twelve months ended December 31, 2021, representing an increase of approximately 15% to 20% year-over-year. The company also expects to have positive GAAP net income and Adjusted EBITDA for the full year 2021 period.
Positive Outlook
- Net revenue of between $390 million and $405 million, representing an increase of approximately 15% to 20% year-over-year
- Net revenue from Advanced Wound Care products of between $362 million and $375 million, representing an increase of approximately 23% to 27% 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 $28 million and $30 million, representing a decrease of approximately 31% to 36% year-over-year
- Net revenue from the sale of PuraPly products of between $139 million and $147 million, representing a decrease of approximately 0% to 6% year-over-year
Historical Earnings Impact
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Avg. Return Before/After Earnings
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