Organogenesis Holdings ( (ORGO) ) has released its Q3 earnings. Here is a breakdown of the information Organogenesis Holdings presented to its investors.
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Organogenesis Holdings Inc. is a leading company in the regenerative medicine sector, specializing in advanced wound care and surgical and sports medicine solutions.
In its third-quarter 2024 financial results, Organogenesis reported a net revenue of $115.2 million, marking a 6% increase compared to the same period in 2023. This growth was primarily driven by a 7% rise in the Advanced Wound Care segment, while the Surgical & Sports Medicine segment experienced a modest 1% increase.
The company achieved a net income of $12.3 million, a significant improvement from the $3.2 million recorded in the third quarter of 2023. Despite this, there was a decrease in adjusted EBITDA, which fell to $13.4 million from the previous year’s $16.0 million. Operating expenses rose by 10%, driven by an increase in selling, general, and administrative expenses.
Looking ahead, Organogenesis is projecting net revenue growth between 5% and 11% for the year ending December 31, 2024. The company remains committed to working with policymakers to address spending while ensuring access to its therapies, indicating a cautiously optimistic outlook for future growth.
