10-K · February 26, 2026
Organogenesis closed 2025 with record fourth-quarter revenue of $225,607,000 and strong Q4 operating margin (28.1%) and free cash flow ($35.0M), driving full-year revenue of approximately $565.0M. The company is…
Earnings analysis · 10-Q
ORGO earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Organogenesis experienced a significant decline in Q1 2026, with total revenue of $37.2 million, down 57% from $86.7 million in Q1 2025, and an increased net loss of $53.2 million compared to a loss of $18.8 million a…
Read full summary
Organogenesis experienced a significant decline in Q1 2026, with total revenue of $37.2 million, down 57% from $86.7 million in Q1 2025, and an increased net loss of $53.2 million compared to a loss of $18.8 million a year earlier. Adjusted EBITDA also worsened, reflecting operational challenges and declining sales. The company has revised its fiscal year 2026 revenue guidance downward to a range of $270 million to $310 million, indicating continuing market pressures.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.44
What stood out
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Q1 Revenue Plummets
Total revenue of $37.2 million in Q1 2026, down 57% from $86.7 million in Q1 2025.
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Increased Losses
Net loss of $53.2 million in Q1 2026 compared to $18.8 million in Q1 2025.
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Deteriorating Gross Profit
Gross profit fell to $10.5 million from $63.0 million, an 83% decrease.
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Improved Operating Cash Flow
Operating cash flow for Q1 2026 was positive at $21.1 million, a turnaround from -$19.9 million in Q1 2025.
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Strengthened Cash Position
Cash and cash equivalents increased to $91.4 million as of March 31, 2026, despite losses.
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Research Spend Increases
R&D expenses rose 42% to $15.2 million, reflecting investment in product development.
What to watch
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Regulatory Environment Challenges
Changed Medicare reimbursement policies led to a significant year-over-year decline in revenue, impacting product utilization.
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Market Confusion from LCD Changes
Withdrawal of Local Coverage Determinations (LCDs) disrupted market dynamics, contributing to a 63% decline in Advanced Wound Care revenue.
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Liquidity Risks
Potential inability to secure additional funding could affect ongoing operational and capital needs.
Management's outlook
Guidance indicates potential decline of 45% to 52% compared to FY2025.
Earlier filings 4
10-Q · May 8, 2025
Organogenesis reported a disappointing first quarter for 2025, with revenues dropping by 21.1% to $86.7 million compared to $109.9 million in the prior year. The company also faced increases in operating losses and…
10-Q · November 12, 2024
Organogenesis reported Q3 net revenue of $115.177M, up $6.646M (≈6.1%) versus Q3 2023, with gross profit rising to $88.381M and diluted EPS of $0.09 (Q3 2023: $0.02). Operating income declined to $6.242M from $8.050M…
10-Q · May 10, 2023
Organogenesis Holdings Inc. reported Q1 2023 results showing a significant increase in revenue and a smaller loss compared to both the prior quarter and the prior year. Revenue surged to $107.64 million, up 10.4% from…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.