Organogenesis Q3 revenue down 7% to $108.5M; net income rises to $3.2M; guides FY rev down 1-4%

Organogenesis Holdings Inc.

2023-Q3 EPS reported $0.04 revenue$333,489,000

Net revenue $108.5M, down $8.3M YoY; Advanced Wound Care fell 7% to $101.4M; Surgical & Sports Med fell 2% to $7.2M.
Net income $3.2M ($0.02/sh) vs $0.2M ($0.00/sh) in Q3 2022; adjusted net income $5.3M vs $5.1M.
Adjusted EBITDA $16.0M, up 38% from $11.6M; operating income $8.1M vs $1.8M.
FY2023 guidance: net revenue $433-446M (down 1-4% YoY); net income $4-9M; adjusted net income $11-17M.
Revenue impacted by LCD withdrawal issues; profitability improved despite headwinds.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Organogenesis Holdings Inc. reported the third quarter ended September 30, 2023 results: revenue $108.5 million, net income $3.2 million, EPS $0.02 per share. Guidance reaffirmed.

Period: the third quarter ended September 30, 2023
Revenue: $108.5 million
Net income: $3.2 million
EPS: $0.02 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Net revenue of $108.5 million for the third quarter of 2023

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Source: SEC EDGAR

accession 0000950170-23-062041

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