Organogenesis Q2 revenue up 11% but net loss $17M on $22.8M impairment and write-downs

Organogenesis Holdings Inc.

2024-Q2 EPS reported -$0.14 revenue$240,210,000

Net revenue $130.2M (+11% YoY); Advanced Wound Care $123.2M (+12%), Surgical & Sports Med $7.0M (-3%).
Net loss $17.0M ($0.13/sh) vs net income $5.3M Q2 2023; included $18.8M impairment and $4.0M software write-down.
Adjusted EBITDA essentially flat at $15.6M; adjusted net income fell to $0.2M from $6.1M.
FY2024 revenue guidance reaffirmed $445-$470M; net loss guided $(27)-$(12)M; Adj. EBITDA $16-$35M.
Cash $90.5M, debt $63.5M; management cites near-term variability in skin substitutes market.

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