Press release
Organogenesis Holdings Inc. Reports Fourth Quarter and Fiscal Year 2020 Financial Results; Introduces Fiscal Year 2021 Guidance
CANTON, Mass., March 16, 2021 (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 16, 2021 (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 and twelve months ended December 31, 2020 and introduced financial guidance expectations for fiscal year ended December 31, 2021. Fourth Quarter 2020 Financial Results Summary: Net revenue of $106.8 million for the fourth quarter of 2020, up 43% compared to net revenue of $74.6 million for the fourth quarter of 2020. Net revenue is based upon: Net revenue from Advanced Wound Care products for the fourth quarter of 2020 of $93.6 million, an increase of 48% from the fourth quarter of 2019.Net revenue from Surgical & Sports Medicine products for the fourth quarter of 2020 of $13.2 million, an increase of 17% from the fourth quarter of 2019. Net revenue from the sale of PuraPly products of $45.3 million for the fourth quarter of 2020, an increase of 13% from the fourth quarter of 2019.Net revenue from the sale of non-PuraPly products of $61.5 million, an increase of 77% from the fourth quarter of 2019.Net income of $18.5 million for the fourth quarter of 2020, compared to a net loss of $4.4 million for the fourth quarter of 2019, an increase of $22.9 million.Adjusted EBITDA of $24.9 million for the fourth quarter of 2020, compared to Adjusted EBITDA of $0.8 million for the fourth quarter of 2019, an increase of $24.1 million. Fiscal Year 2020 Financial Summary: Net revenue of $338.3 million for the year ended December 31, 2020, up 30% compared to net revenue of $261.0 million for the year ended December 31, 2019. Net revenue is based upon: Net revenue from Advanced Wound Care products of $294.6 million, up 33% year-over-year. Net revenue from Surgical & Sports Medicine products of $43.7 million, up 9% year-over-year. Net revenue from the sale of PuraPly products of $147.3 million for the year ended December 31, 2020, up 16% year-over-year.Net revenue from the sale of non-PuraPly products of $191.0 million for the year ended December 31, 2020, up 42% year-over-year.Net income of $17.9 million for the year ended December 31, 2020, compared to a net loss of $40.5 million for the year ended December 31, 2019.A...