Author: Vitaliy Dadalyan

Organogenesis Soars 38% On Q3 Revenue, Boosts Guidance

Shares of Organogenesis Holdings are surging 37.6% in pre-market trading as the company reported impressive preliminary numbers for the third quarter. The regenerative medicine company expects its 3Q revenue to grow between 54% and 56% Y/Y to the range of $99 million-$100 million.Organogenesis’ (ORGO) 3Q revenue is expected to be driven by a 63% to 64% rise in net revenue from Advanced Wound Care products to $88.5 million-$89.3 million and a 5% to 7% growth in Surgical & Sports Medicine products to $10.5 million-$10.7 million.The company now predicts full-year net revenue of $311 million-$314 million, reflecting growth of about 19% to 20% compared to the prior growth outlook of 5% to 6%. It expects to post positive GAAP net income and positive adjusted EBITDA in 3Q and full-year.Meanwhile, the company also disclosed that it acquired CPN Biosciences on Sept. 17. Organogenesis CEO Gary Gillheeney stated “CPN’s physician office management solution and...