Organogenesis (US:ORGO)2025-11-06 21:23Revenue Performance - Net product revenue for Q3 2025 was $150.5 million, an increase of $35.3 million or 31% compared to Q3 2024 revenue of $115.2 million[4] - Advanced Wound Care products generated $141.5 million in revenue, a 31% increase from $107.9 million in Q3 2024[4] - Surgical & Sports Medicine products revenue reached $9.0 million, reflecting a 25% increase from $7.2 million in Q3 2024[4] - Total revenue for the three months ended September 30, 2025, was $150,864, a 30.9% increase from $115,177 in the same period of 2024[25] - Net product revenue for the nine months ended September 30, 2025, was $337,959, compared to $355,387 for the same period in 2024, reflecting a decrease of 4.9%[25] Income and Earnings - Net income for Q3 2025 was $21.6 million, up from $12.3 million in Q3 2024, representing an increase of $9.2 million[9] - The company reported a net income of $21,567 for the three months ended September 30, 2025, compared to $12,331 for the same period in 2024, marking a 75.1% increase[25] - The company reported a basic net income per share of $0.11 for the three months ended September 30, 2025, compared to $0.09 for the same period in 2024[25] - Adjusted net income for Q3 2025 was $23,231,000, compared to $12,940,000 in Q3 2024, representing an increase of 80%[32] - Projected net income for 2025 is expected to be between $8,600,000 and $25,400,000[39] EBITDA and Financial Metrics - Adjusted EBITDA for Q3 2025 was $30.1 million, an increase of $16.7 million compared to $13.4 million in Q3 2024[10] - Adjusted EBITDA for Q3 2025 was $30,119,000, compared to $13,410,000 in Q3 2024, reflecting a significant increase[29] - Projected Adjusted EBITDA for the year ending December 31, 2025, ranges from $45,500,000 to $68,300,000[37] - Non-GAAP operating income for Q3 2025 was $23,007,000, compared to $7,076,000 in Q3 2024, showing a substantial improvement[34] Guidance and Projections - The company expects net product revenue for FY 2025 to be between $500.0 million and $525.0 million, a year-over-year increase of 4% to 9%[21] - Advanced Wound Care revenue guidance for FY 2025 is projected between $470.0 million and $490.0 million, an increase of 4% to 8% year-over-year[21] - Surgical & Sports Medicine revenue guidance for FY 2025 is estimated between $30.0 million and $35.0 million, reflecting a year-over-year increase of 6% to 23%[21] Expenses and Cash Flow - Operating expenses for Q3 2025 were $130.1 million, an increase of $21.2 million or 19% compared to Q3 2024[7] - Operating expenses for the three months ended September 30, 2025, totaled $130,137, up from $108,935 in the same period of 2024, representing an increase of 19.5%[25] - The company experienced a net cash used in operating activities of $49,729 for the nine months ended September 30, 2025, compared to a net cash provided of $3,271 for the same period in 2024[27] - Cash and cash equivalents decreased to $63,745 as of September 30, 2025, from $135,571 as of December 31, 2024, a decline of 53%[23] - As of September 30, 2025, the company had $64.4 million in cash and cash equivalents, down from $136.2 million at the end of 2024[19] Assets and Liabilities - Total assets increased to $509,827 as of September 30, 2025, compared to $497,886 as of December 31, 2024, an increase of 2.3%[23] - Total liabilities rose to $123,848 as of September 30, 2025, from $112,570 as of December 31, 2024, an increase of 10%[23] Restructuring and Fair Value - The company incurred a restructuring charge of $516,000 in Q3 2025, consistent with ongoing restructuring activities[30] - The fair value write-down for an asset held for sale was $922,000 in Q3 2025[32] Market and Competition - The company anticipates significant competition and rapid technological changes that may impact future performance[41] - The company is focused on expanding its product offerings in advanced wound care and surgical & sports medicine markets[42]