Press release
Organogenesis Holdings Inc. Reports Fourth Quarter and Fiscal Year 2019 Financial Results; Introduces Fiscal Year 2020 Revenue Guidance
CANTON, Mass., March 09, 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., March 09, 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 its fourth quarter and fiscal year ended December 31, 2019 and introduced revenue guidance expectations for fiscal year ended December 31, 2020.\n Fourth Quarter 2019 Financial Summary: Net revenue of $74.6 million for the fourth quarter of 2019, up 17% compared to net revenue of $63.6 million for the fourth quarter of 2018. Net revenue comprised: -- Net revenue from Advanced Wound Care products of $63.4 million, up 16% from the fourth quarter of 2018. -- Net revenue from Surgical & Sports Medicine products of $11.3 million, up 25% from the fourth quarter of 2018.Net revenue from the sale of PuraPly products of $39.9 million for the fourth quarter of 2019, up 40% from the fourth quarter of 2018.Net revenue from the sale of non-PuraPly commercially available products, which excludes net revenue from the sale of Affinity, increased 18% as compared to net revenue from the sale of non-PuraPly commercially available products in the fourth quarter of 2018. Net revenue from the sale of non-PuraPly products of $34.7 million for the fourth quarter of 2019, down 1% from the fourth quarter of 2018.Net loss was $4.4 million for the fourth quarter of 2019, compared to a net loss of $9.3 million for the fourth quarter of 2018.Adjusted EBITDA income of $0.8 million for the fourth quarter of 2019, compared to Adjusted EBITDA loss of $0.1 million for the fourth quarter of 2018. Fiscal Year 2019 Financial Summary: Net revenue of $261.0 million for the year ended December 31, 2019, up 35% compared to net revenue of $193.4 million for the year ended December 31, 2018. Net revenue comprised: -- Net revenue from Advanced Wound Care products of $220.7 million, up 34% year-over-year. -- Net revenue from Surgical & Sports Medicine products of $40.2 million, up 38% year-over-year.Net revenue from the sale of PuraPly products of $126.8 million for the year ended December 31, 2019, up 82% year-over-year.Net revenue from the sale of non-PuraPly commercially available products, which excludes net revenue from the sale of Affinity, increased ...