Organogenesis (US:ORGO) Globenewswireยท2025-05-08 20:05Core Viewpoint - Organogenesis Holdings Inc. reported a significant decline in net revenue for the first quarter of 2025, primarily due to a decrease in Advanced Wound Care product sales, while Surgical & Sports Medicine products showed growth. The company remains optimistic about its commercial strategy and ongoing product development, particularly the ReNu project [1][3][4]. Financial Performance - Net revenue for Q1 2025 was $86.7 million, down from $110.0 million in Q1 2024, representing a decrease of $23.3 million or 21% [4][7]. - Advanced Wound Care products generated $79.9 million in revenue, a decrease of 23% year-over-year, while Surgical & Sports Medicine products saw an increase to $6.8 million, up 11% [4][7]. - Gross profit for Q1 2025 was $63.0 million, or 73% of net revenue, compared to $81.3 million, or 74% of net revenue in Q1 2024, marking a decrease of $18.3 million or 23% [5]. - Operating expenses rose to $89.7 million, an increase of 5% from $85.1 million in Q1 2024, with R&D expenses decreasing by 17% to $10.6 million [6]. - The company reported a net loss of $18.8 million for Q1 2025, compared to a net loss of $2.1 million in Q1 2024, reflecting an increase in net loss of $16.7 million [9][10]. Cash Position - As of March 31, 2025, the company had $110.5 million in cash and cash equivalents, down from $136.2 million at the end of 2024, with no outstanding debt [11]. Guidance for Fiscal Year 2025 - The company reaffirmed its revenue guidance for 2025, expecting net revenue between $480.0 million and $535.0 million, which represents a year-over-year change of roughly flat to an increase of 11% [12][14]. - Expected net revenue from Advanced Wound Care products is projected to be between $450.0 million and $500.0 million, while Surgical & Sports Medicine products are expected to generate between $30.0 million and $35.0 million [14].