Strong Revenue Growth in Q4
Organogenesis delivered sales results above the high end of the guidance range, growing 27% in the fourth quarter of fiscal year 2024.
Advanced Wound Care Performance
Advanced Wound Care net revenue for the fourth quarter was $119 million, up 27% year-over-year.
Improvement in Gross Profit and Operating Income
Gross profit for the fourth quarter was $96 million, or 75.5% of net revenue, compared to 72.1% last year. Operating income for the fourth quarter was $10.2 million compared to an operating loss of $1.3 million last year.
Successful Funding and Debt Reduction
The private placement of Series A convertible preferred stock provided $122.7 million, which was used to pay off $66.6 million in long-term debt.
ReNu Program Progress
Completed enrollment in the second Phase 3 clinical trial for ReNu with expectations for a BLA submission by the end of 2025.