Overview

• Regenerative medicine firm's Q1 revenue missed expectations as it fell 58% yr/yr, driven by lower wound care sales

• Adjusted net loss widened sharply from prior year

• Company expects 2026 revenue to decline 45%-52% from prior year

Outlook

• Organogenesis sees 2026 net revenue between $270 mln and $310 mln

• Company expects sequential revenue improvement in Q2, but at a more measured rate

• Organogenesis continues to expect strong sequential revenue growth in H2 2026, but low-end guidance assumes prolonged market headwinds

Result Drivers

• ADVANCED WOUND CARE DECLINE - Revenue drop driven by a 63% decrease in Advanced Wound Care product sales

• INVENTORY WRITE-DOWNS & RESTRUCTURING - Inventory write-downs due to regulatory changes and restructuring charges contributed to losses

Company press release: ID:nGNX2kjT9W

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Net product revenue	Miss	$36.3 mln	$43.30 mln (1 Analyst)
Q1 EPS		-$0.44
Q1 Adjusted Net Income	Miss	-$43.7 mln	-$40.50 mln (1 Analyst)
Q1 Net Income		-$53.2 mln
Q1 Adjusted EBITDA	Miss	-$48.2 mln	-$31.40 mln (1 Analyst)
Q1 Operating Income		-$68.9 mln

Analyst Coverage

• The one available analyst rating on the shares is "strong buy"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy."

• Wall Street's median 12-month price target for Organogenesis Holdings Inc is $8.00, about 212.5% above its May 6 closing price of $2.56

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