Earnings Call Summary | Organogenesis(ORGO.US) Q4 2023 Earnings Conference
Earnings Call Summary | Organogenesis(ORGO.US) Q4 2023 Earnings Conference
The following is a summary of the Organogenesis Holdings, Inc. (ORGO) Q4 2023 Earnings Call Transcript:
以下是Organogenesis Holdings, Inc.（ORGO）2023年第四季度業績電話會議記錄摘要：
Financial Performance:
財務業績：
Organogenesis reported Q4 net revenue of $99.7 million, a decrease of 14% year-over-year.
Gross profit for the quarter equated to 72.1% of net revenue, down from 76.5% last year, with decreases attributed to shifts in product mix and pricing.
The company recorded an operating loss of $1.3 million and a net loss of $0.6 million.
Adjusted EBITDA for Q4 was down at $7.5 million, or 7.5% of net revenue, compared to $14.1 million last year.
2023 full-year revenue decreased by 4% to $433.1 million.
Cash and cash equivalents stand at $104.3 million, offset by $66.2 million in debt obligations as of 31 December 2023.
The company anticipates 2024 net revenue will range between $445 million and $470 million, marking an increase of 3% to 9% year-over-year.
Gross margins for 2024 are anticipated to return to around 76% to 77%.
Organogenesis公佈的第四季度淨收入爲9,970萬美元，同比下降14％。
該季度的毛利相當於淨收入的72.1％，低於去年的76.5％，下降歸因於產品組合和定價的變化。
該公司錄得130萬美元的營業虧損和60萬美元的淨虧損。
第四季度調整後的息稅折舊攤銷前利潤下降至750萬美元，佔淨收入的7.5％，而去年同期爲1,410萬美元。
2023 年全年收入下降了4％，至4.331億美元。
截至2023年12月31日，現金及現金等價物爲1.043億美元，被6,620萬美元的債務所抵消。
該公司預計，2024年的淨收入將在4.45億美元至4.7億美元之間，同比增長3％至9％。
預計2024年的毛利率將恢復到76％至77％左右。
Business Progress:
業務進展：
Increases in operating expenses are expected in 2024, primarily due to strategic investments in commercial initiatives and accelerated investments in clinical studies and regulatory-related spending.
New product lines, including a dehydrated, dual-layer product, are expected to drive growth and EBITDA.
Sales were at the lower end of Q4 guidance but are expected to rebound in 2024 after a series of challenges.
Long-term growth initiatives include a new licensing agreement with Vivex Biologics and ongoing clinical trials for ReNu.
Despite sales disruptions, the company noticed positive momentum in late 2023 and early 2024.
By 2025, the company expects to conclude Phase III clinical trials for ReNu, which could potentially be the only FDA-approved biologic intra-articular injection to alleviate severe osteoarthritis symptoms.
The 2024 fiscal year will also see the launch of two new products catering to the surgical sector.
預計2024年的運營支出將增加，這主要是由於對商業計劃的戰略投資以及對臨床研究和監管相關支出的投資加快。
包括脫水雙層產品在內的新產品線預計將推動增長和息稅折舊攤銷前利潤。
銷售額處於第四季度預期的低端，但在一系列挑戰之後，預計將在2024年反彈。
長期增長計劃包括與Vivex Biologics簽訂的新許可協議以及正在進行的ReNU臨床試驗。
儘管銷售中斷，但該公司在2023年底和2024年初仍出現積極勢頭。
該公司預計到2025年將完成ReNU的III期臨床試驗，這可能是唯一獲得美國食品藥品管理局批准的緩解嚴重骨關節炎症狀的生物關節內注射劑。
2024財年還將推出兩款面向外科領域的新產品。
More details: Organogenesis IR
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