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Dec 31, 2024
Organogenesis Q4 2024 Earnings Report
Organogenesis reported strong financial results for the fourth quarter of 2024, with significant increases in net revenue, net income, and Adjusted EBITDA compared to the previous year.
Key Takeaways
Organogenesis Holdings Inc. announced a robust fourth quarter for 2024, with net revenue reaching $126.7 million, a 27% increase from Q4 2023. The company also reported a net income of $7.7 million, a substantial improvement from a net loss in the prior year, and Adjusted EBITDA of $18.2 million, marking a 143% increase.
Net revenue for Q4 2024 increased by 27% to $126.7 million, driven by growth in both Advanced Wound Care and Surgical & Sports Medicine products.
The company achieved a net income of $7.7 million in Q4 2024, a significant turnaround from a net loss of $0.6 million in Q4 2023.
Adjusted EBITDA saw a substantial increase of 143% to $18.2 million in Q4 2024, reflecting improved operational performance.
Gross profit for Q4 2024 was $95.6 million, representing 75% of net revenue, up from 72% in Q4 2023.
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, 2025, Organogenesis expects net revenue between $480.0 million and $535.0 million, representing a range of roughly flat to an increase of approximately 11% year-over-year compared to 2024. Net income is projected between $9.5 million and $38.8 million, and Adjusted EBITDA between $43.6 million and $83.2 million.
Positive Outlook
- Projected net revenue growth of up to 11% year-over-year.
- Expected increase in net income, with a high end of $38.8 million.
- Anticipated growth in Adjusted EBITDA, with a high end of $83.2 million.
- Surgical & Sports Medicine products are expected to see an increase of 6% to 23% in net revenue.
- The company expects to meet a key strategic milestone in 2025 by delivering the ReNu BLA submission by the end of the year.
Challenges Ahead
- Net revenue from Advanced Wound Care products could potentially decrease by 1% year-over-year.
- The lower end of the net income guidance is $9.5 million, indicating potential for limited growth.
- The lower end of the Adjusted EBITDA guidance is $43.6 million, which is below the high end of the 2024 actual Adjusted EBITDA.
- The guidance assumes potential challenges in the market, as indicated by the 'difficult environment' mentioned in the summary.
- The company will continue to focus on collaborating with policy and law makers to address spending while ensuring access to therapies.
Revenue & Expenses
Visualization of income flow from segment revenue to net income