Press release
Organogenesis Holdings Inc. Reports Preliminary Financial Results for Fourth Quarter and Fiscal Year 2020
CANTON, Mass., Jan. 13, 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., Jan. 13, 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 preliminary financial results for the three months and twelve months ended December 31, 2020. Fourth Quarter 2020 Preliminary Financial Results Summary: Net revenue of between $104.6 million and $106.0 million for the three months ended December 31, 2020, up 40% to 42% compared to net revenue of $74.6 million for the three months ended December 31, 2019. Net revenue is based upon:○ Net revenue from Advanced Wound Care products of between $92.0 million and $93.2 million, up 45% to 47% year-over-year.○ Net revenue from Surgical & Sports Medicine products of between $12.6 million and $12.8 million, up 12% to 14% year-over-year.Net revenue from the sale of PuraPly products of between $43.8 million and $44.6 million for the three months ended December 31, 2020, up 10% to 12% year-over-year.The Company expects to report positive GAAP net income and positive Adjusted EBITDA for the three months ended December 31, 2020. Fiscal Year 2020 Preliminary Financial Results Summary: Net revenue of between $336.1 million and $337.5 million for the twelve months ended December 31, 2020, up approximately 29% compared to net revenue of $261 million for the twelve months ended December 31, 2019.Net revenue is based upon:○ Net revenue from Advanced Wound Care products of between $293.0 million and $294.2 million, up approximately 33% year-over-year.○ Net revenue from Surgical & Sports Medicine products of between $43.1 million and $43.3 million, up 7% to 8% year-over-year.Net revenue from the sale of PuraPly products of between $145.8 million and $146.6 million for the twelve months ended December 31, 2020, up 15% to 16% year-over-year.The Company expects to report positive GAAP net income and positive Adjusted EBITDA for the full fiscal year 2020 period. Forward-Looking StatementsThis release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to expectations or forecasts of future events. Forward-looking statements may be identified by the use of words suc...