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Robust 218-patient RCT demonstrates statistically superior frequency of wound closure at 12 weeks compared to standard of care (p=.04) Organogenesis believes published study satisfies requirements for Medicare coverage under proposed Local Coverage Determination (LCDs) CANTON, Mass., Oct. 01, 2024 (GLOBE NEWSWIRE) -- Organogenesis Holdings Inc. (Nasdaq: ORGO), a leading regenerative medicine company focused on the development, manufacture, and commercialization of product solutions for the Advanced Wound Ca ...

CANTON, Mass., Sept. 04, 2024 (GLOBE NEWSWIRE) -- Organogenesis Holdings Inc. (Nasdaq: ORGO), a leading regenerative medicine company focused on the development, manufacture, and commercialization of product solutions for the Advanced Wound Care and Surgical & Sports Medicine markets, today announced that management will participate in the following upcoming investor conferences: The Morgan Stanley Global Healthcare Conference at the New York Marriott Marquis in New York, NY Management will participate in i ...

Organogenesis Holdings, Inc. (NASDAQ:ORGO) Q2 2024 Earnings Conference Call August 8, 2024 5:00 PM ET Company Participants Gary Gillheeney - President, Chief Executive Officer & Chair Dave Francisco - Chief Financial Officer Conference Call Participants Ryan Zimmerman - BTIG Brooks O'Neill - Lake Street Drew Ranieri - Morgan Stanley Matthew Park - Cantor Fitzgerald Operator Please stand by. Welcome ladies and gentlemen to the Second Quarter 2024 Earnings Conference Call for Organogenesis Holdings Inc. At th ...

Organogenesis (ORGO) came out with a quarterly loss of $0.13 per share versus the Zacks Consensus Estimate of a loss of $0.02. This compares to earnings of $0.04 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -550%. A quarter ago, it was expected that this regenerative medicine company would post a loss of $0.03 per share when it actually produced a loss of $0.02, delivering a surprise of 33.33%. Over the last four quarters, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, $0.0001 par value ORGO Nasdaq Capital Market FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-37906 ORGANOGENESI ...

Financial Performance - Net revenue for Q2 2024 was $130.2 million, an increase of $12.9 million or 11% compared to Q2 2023 revenue of $117.3 million[3] - The company reported a net loss of $17.0 million for Q2 2024, a decrease of $22.4 million compared to net income of $5.3 million in Q2 2023[3] - Adjusted net income for Q2 2024 was $0.2 million, down from $6.1 million in Q2 2023, representing a 97% decrease[8] - For the first half of 2024, net revenue was $240.2 million, a 7% increase from $225.0 million in the first half of 2023[9] - The company expects 2024 net revenue guidance between $445.0 million and $470.0 million, representing a year-over-year increase of approximately 3% to 9%[12] - Net revenue for the three months ended June 30, 2024, was $130,234,000, representing an increase from $117,316,000 in the same period of 2023, a growth of approximately 11.6%[15] - Gross profit for the six months ended June 30, 2024, was $182,316,000, compared to $172,035,000 for the same period in 2023, reflecting a year-over-year increase of about 6.0%[15] - The company reported a net loss of $17,043,000 for the three months ended June 30, 2024, compared to a net income of $5,316,000 in the same period of 2023[15] - Net income for June 2024 was a loss of $19,143 thousand, compared to a profit of $2,347 thousand in June 2023[16] Operating Expenses - Operating expenses for Q2 2024 were $114.9 million, an increase of 41% from $81.3 million in Q2 2023[7] - Total operating expenses for the three months ended June 30, 2024, were $114,928,000, up from $81,255,000 in the prior year, indicating a significant increase of approximately 41.3%[15] - R&D expenses rose to $15.6 million in Q2 2024, a 42% increase from $10.9 million in Q2 2023[7] - Total depreciation and amortization expenses increased to $6,438 thousand in June 2024 from $4,922 thousand in June 2023[16] Cash and Liquidity - The company had $90.5 million in cash and cash equivalents as of June 30, 2024, down from $104.3 million at the end of 2023[9] - Cash and cash equivalents decreased to $89,902,000 as of June 30, 2024, from $103,840,000 at the end of 2023, a decline of about 13.4%[14] - Cash flows from operating activities resulted in a net cash used of $5,424 thousand for June 2024, down from a net cash provided of $3,569 thousand in June 2023[16] - Cash paid for interest was $2,744 thousand in June 2024, compared to $2,608 thousand in June 2023[16] - Cash, cash equivalents, and restricted cash at the end of the period were $90,477 thousand, up from $89,508 thousand at the end of June 2023[16] - The company used $4,102 thousand in investing activities for purchases of property and equipment in June 2024, down from $15,061 thousand in June 2023[16] Assets and Liabilities - Accounts receivable increased to $105,945,000 as of June 30, 2024, compared to $81,999,000 at the end of 2023, representing a rise of approximately 29.2%[14] - Total current liabilities rose to $85,727,000 as of June 30, 2024, compared to $80,509,000 at the end of 2023, an increase of about 6.8%[14] - The accumulated deficit increased to $(60,114,000) as of June 30, 2024, from $(40,971,000) at the end of 2023, indicating a worsening of approximately 46.8%[14] - Total assets decreased to $443,163,000 as of June 30, 2024, from $460,025,000 at the end of 2023, a decline of approximately 3.7%[14] Impairments and Provisions - The company reported a significant impairment of $18,842 thousand related to a purchased building and associated unfinished construction work[19] - The company has incurred impairment charges of $19,000 related to buildings and improvements, and $4,000 for write-downs of capitalized software costs[21] - The company recorded a provision for credit losses of $2,032 thousand in June 2024, compared to $190 thousand in June 2023[16] Future Outlook and Risks - The company faces significant competition and rapid technological changes that could impact its business and financial condition[23] - The company is focused on expanding its product offerings in the advanced wound care and surgical & sports medicine markets[24] - The company has outlined risks related to changes in coverage and reimbursement levels for its products, which could affect future revenue[23] - The company is working on obtaining regulatory approval for new products, including ReNu, which is critical for its commercialization strategy[23] - The company has incurred losses in the current and prior periods and may continue to do so in the future[23] Adjusted Metrics - Adjusted EBITDA for Q2 2024 was $15.6 million, a slight increase of $0.2 million or 1% from $15.4 million in Q2 2023[8] - Adjusted EBITDA for the three months ended June 30, 2024, was $15,649 thousand, compared to $15,403 thousand for the same period in 2023[18] - Non-GAAP operating income for the six months ended June 30, 2024, was $6,792 thousand, compared to $9,985 thousand for the same period in 2023[20] - Adjusted EBITDA for the year is projected to be $16,000, while for the first half of 2024, it is projected at $35,000[21] - The company expects an adjusted net income (loss) of $(8,000) for the year ending December 31, 2024, compared to an adjusted net income of $7,000 for the first half of 2024[22]

On track to submit ReNu BLA by the end of 2025 Enrollment in second Phase 3 complete; significantly ahead of expectations Subgroup analysis demonstrated most severe (KL4) subjects responded comparably to moderate (KL3) CANTON, Mass., Aug. 08, 2024 (GLOBE NEWSWIRE) -- Organogenesis Holdings Inc. (Nasdaq: ORGO), a leading regenerative medicine company focused on the development, manufacture, and commercialization of product solutions for the Advanced Wound Care and Surgical and Sports Medicine markets, today ...

CANTON, Mass., July 15, 2024 (GLOBE NEWSWIRE) -- Organogenesis Holdings Inc. (Nasdaq: ORGO), a leading regenerative medicine company focused on the development, manufacture, and commercialization of product solutions for the Advanced Wound Care and Surgical & Sports Medicine markets, today announced that second quarter of fiscal year 2024 financial results will be reported after the market closes on Thursday, August 8th. Management will host a conference call at 5:00 p.m. Eastern Time on August 8th to discu ...

CANTON, Mass., June 06, 2024 (GLOBE NEWSWIRE) -- Organogenesis Holdings Inc. (Nasdaq: ORGO), a leading regenerative medicine company focused on the development, manufacture, and commercialization of product solutions for the Advanced Wound Care and Surgical & Sports Medicine markets, today announced that management will participate in the Truist Securities MedTech Conference, which is being held at the InterContinental Boston in Boston, MA on Tuesday, June 18th. Management will participate in 1x1 meetings. ...