Press release
Organogenesis Holdings Inc. Reports First Quarter 2020 Financial Results
CANTON, Mass., May 11, 2020 (GLOBE NEWSWIRE) -- Organogenesis Holdings Inc. (Nasdaq: ORGO), a leading regenerative medicine company focused on the
About this update from Organogenesis Holdings Inc.
[{"type":"text","content":"CANTON, Mass., May 11, 2020 (GLOBE NEWSWIRE) -- Organogenesis Holdings Inc. (Nasdaq: ORGO), a leading regenerative medicine company focused on the development, manufacture, and commercialization of product solutions for the Advanced Wound Care and Surgical & Sports Medicine markets, today reported financial results for the three months ended March 31, 2020. \n First Quarter 2020 Financial Summary: Net revenue of $61.7 million for the first quarter of 2020, up 8% compared to net revenue of $57.1 million for the first quarter of 2019. Net revenue comprised: Net revenue from Advanced Wound Care products for the first quarter of 2020 of $51.3 million, up 7% from the first quarter of 2019.Net revenue from Surgical & Sports Medicine products for the first quarter of 2020 of $10.4 million, up 13% from the first quarter of 2019. Net revenue from the sale of PuraPly products of $32.5 million for the first quarter of 2020, up 28% from the first quarter of 2019.Net revenue from the sale of non-PuraPly commercially available products of $28.7 million, which excludes net revenue from the sale of Affinity, decreased 4% as compared to net revenue from the sale of non-PuraPly commercially available products in the first quarter of 2019. Net revenue from the sale of non-PuraPly products (including limited Affinity sales) of $29.2 million for the first quarter of 2020, down 8% from the first quarter of 2019.Net loss of $16.3 million for the first quarter of 2020, compared to a net loss of $15.7 million for the first quarter of 2019.Adjusted EBITDA loss of $13.1 million for the first quarter of 2020, compared to Adjusted EBITDA loss of $9.4 million for the first quarter of 2019. First Quarter 2020 and Recent Highlights: On March 25, 2020, the Company announced that it would sponsor a WoundSource webinar, “Taking Control of the Wound Healing Environment” led by Alisha Oropallo, MD, FACS, Medical Director of the Comprehensive Wound Healing Center and Hyperbarics at Northwell Health. The webinar comes as part of the WoundSource Practice Accelerator series, which is sponsored by PuraPly Antimicrobial® for the month of March 2020.On April 13, 2020, the Company announced it will support a series of five virtual education events geared toward clinicians and other advanced wound care and surgical & sports medicine stakeholders during the month of April. T...