Organogenesis Holdings Inc. announced net revenue of $115.2 million for the third quarter of 2024, marking a 6% increase compared to $108.5 million in the third quarter of 2023. This growth was primarily driven by a 7% increase in Advanced Wound Care product revenue, reaching $108.0 million.
The company reported a net income of $12.3 million, or $0.09 per share, for Q3 2024, a substantial increase from $3.2 million, or $0.02 per share, in the prior year's quarter. Adjusted net income also saw a significant rise of 143% to $12.9 million.
Organogenesis updated its full-year 2024 guidance, projecting net revenue between $470 million and $485 million, an increase from the previous range. Adjusted EBITDA guidance was also raised to $45 million to $55 million, reflecting confidence in continued operational performance.
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