Press release
Organogenesis Holdings Inc. Reports Fourth Quarter 2022 and Fiscal Year 2022 Financial Results; Introduces Fiscal Year 2023 Guidance
CANTON, Mass., March 01, 2023 (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., March 01, 2023 (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 fourth quarter and the year ended December 31, 2022. Fourth Quarter 2022 Financial Results Summary: Net revenue of $115.5 million for the fourth quarter of 2022, a decrease of 10% compared to net revenue of $127.9 million for the fourth quarter of 2021. Net revenue for the fourth quarter of 2022 consists of: Net revenue from Advanced Wound Care products of $108.8 million, a decrease of 10% from the fourth quarter of 2021.Net revenue from Surgical & Sports Medicine products of $6.7 million, a decrease of 6% from the fourth quarter of 2021.Net revenue from the sale of PuraPly products of $56.8 million, a decrease of 9% from the fourth quarter of 2021.Net revenue from the sale of non-PuraPly products of $58.7 million, a decrease of 10% from the fourth quarter of 2021. Net income of $7.5 million for the fourth quarter of 2022, compared to a net income of $51.0 million for the fourth quarter of 2021, a decrease of $43.5 million.Adjusted net income1 of $8.9 million for the fourth quarter of 2022, compared to an adjusted net income of $54.0 million for the fourth quarter of 2021, a decrease of $45.1 million.Adjusted EBITDA of $14.1 million for the fourth quarter of 2022, compared to Adjusted EBITDA of $26.3 million for the fourth quarter of 2021, a decrease of $12.3 million. Fiscal Year 2022 Financial Results Summary: Net revenue of $450.9 million for the year ended December 31, 2022, a decrease of 4% compared to net revenue of $467.4 million for the year ended December 31, 2021. Net revenue for the year ended December 31, 2022 consists of: Net revenue from Advanced Wound Care products of $422.2 million, a decrease of 2% year-over-year.Net revenue from Surgical & Sports Medicine products of $28.7 million, a decrease of 23% year-over-year.Net revenue from the sale of PuraPly products of $242.7 million, an increase of 22% year-over-year.Net revenue from the sale of non-PuraPly products of $208.2 million, a decrease of 23% year-over-year. Net income of $15.5 million for the year ended December 31, 2022, compared to a ...