Press release
Organogenesis Holdings Inc. Reports Fourth Quarter and Fiscal Year 2021 Financial Results; Introduces Fiscal Year 2022 Guidance
CANTON, Mass., March 01, 2022 (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, 2022 (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, 2021 and introduced financial guidance for the fiscal year ending December 31, 2022. Fourth Quarter 2021 Financial Results Summary: Net revenue of $128.6 million for the fourth quarter of 2021, an increase of 20% (28% on an adjusted basis1) compared to net revenue of $106.8 million for the fourth quarter of 2020. Net revenue for the fourth quarter of 2021 consists of: Net revenue from Advanced Wound Care products of $121.4 million, an increase of 30% from the fourth quarter of 2020.Net revenue from Surgical & Sports Medicine products of $7.2 million, a decrease of 45% from the fourth quarter of 2020. Net revenue from the sale of PuraPly products of $62.6 million for the fourth quarter of 2021, an increase of 38% from the fourth quarter of 2020.Net revenue from the sale of non-PuraPly products of $66.0 million, an increase of 7% from the fourth quarter of 2020.Net income of $51.7 million for the fourth quarter of 2021, compared to a net income $18.3 million for the fourth quarter of 2020, an increase of $33.4 million. Adjusted net income of $54.0 million for the fourth quarter of 2021, compared to an adjusted net income of $19.5 million for the fourth quarter of 2020, an increase of $34.4 millionAdjusted EBITDA of $26.3 million for the fourth quarter of 2021, compared to Adjusted EBITDA of $24.9 million for the fourth quarter of 2020, an increase of $1.5 million. Fiscal Year 2021 Financial Summary: Net revenue of $468.1 million for the year ended December 31, 2021, an increase of 38% (45% on an adjusted basis2), compared to net revenue of $338.3 million for the year ended December 31, 2020. Net revenue for the year ended December 31, 2021 consists of: Net revenue from Advanced Wound Care products of $430.8 million, an increase of 46% year-over-year.Net revenue from Surgical & Sports Medicine products of $37.2 million, a decrease of 15% year-over-year. Net revenue from the sale of PuraPly products of $198.5 million for the year ended December 31, 2021, an increase...