Organogenesis Q2 revenue $117.3M (-3% YoY); withdraws FY2023 guidance on Medicare LCDs

Organogenesis Holdings Inc.

2023-Q2 EPS reported $0.02 revenue$224,958,000

Net revenue of $117.3M, down 3% YoY from $121.4M; net income $5.3M vs $8.7M.
Adjusted net income $6.1M, adjusted EBITDA $15.4M; both down YoY.
Withdrew FY2023 guidance due to Medicare LCDs from Novitas, First Coast Services, CGS limiting DFU/VLU coverage to only Apligraf and Dermagraft effective Sept 17, 2023.
Cash and equivalents $89.5M, debt $69.0M as of June 30.
Company engaging with relevant parties regarding LCDs; uncertain impact on revenue outlook.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Organogenesis Holdings Inc. reported the fiscal second quarter ended June 30, 2023 results: revenue $117.3 million, net income $5.3 million, or $0.04 per share, EPS $0.04 per share.

Period: the fiscal second quarter ended June 30, 2023
Revenue: $117.3 million
Net income: $5.3 million, or $0.04 per share
EPS: $0.04 per share
Result: reported results

Exact text from the filing

& Sports Medicine markets, today reported financial results for the second quarter ended June 30th, 2023. Second Quarter 2023 Financial Results Summary: • Net revenue of $117.3 million for the second quarter of 2023, a decrease of $4.1 million compared to net revenue of $121.4 million for the second quarter of 2022. Net revenue for the second quarter of 2023

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Source: SEC EDGAR

accession 0000950170-23-040643

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