ORGO earnings analysis
What we found in ORGO's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Q1 Revenue Plummets
- Total revenue of $37.2 million in Q1 2026, down 57% from $86.7 million in Q1 2025.
- Increased Losses
- Net loss of $53.2 million in Q1 2026 compared to $18.8 million in Q1 2025.
- Deteriorating Gross Profit
- Gross profit fell to $10.5 million from $63.0 million, an 83% decrease.
- 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.
- Strengthened Cash Position
- Cash and cash equivalents increased to $91.4 million as of March 31, 2026, despite losses.
- Research Spend Increases
- R&D expenses rose 42% to $15.2 million, reflecting investment in product development.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Regulatory Environment Challenges
- Changed Medicare reimbursement policies led to a significant year-over-year decline in revenue, impacting product utilization.
- Market Confusion from LCD Changes
- Withdrawal of Local Coverage Determinations (LCDs) disrupted market dynamics, contributing to a 63% decline in Advanced Wound Care revenue.
- Liquidity Risks
- Potential inability to secure additional funding could affect ongoing operational and capital needs.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.44
- Gross margin
- 28.11%
- Operating margin
- -184.4%
- Segment
- Advanced Wound Care: $29.5M, down 63% Y/Y
- Segment
- Surgical & Sports Medicine: $6.8M, flat
What they said about what is next.
Guidance indicates potential decline of 45% to 52% compared to FY2025.
The filing reads worse than the one before it.
What came before.
- 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…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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