Quarterly ResultMay 7, 2026, 04:27 PM
Organogenesis Q1 Revenue Down 57%; Announces 10% Workforce Cut
AI Summary
Organogenesis Holdings Inc. reported a significant decline in total revenue for the first quarter of 2026, falling to $37.2 million from $86.7 million in the prior year. The company also experienced a widened net loss of $53.2 million, or $0.44 per share, compared to a net loss of $18.8 million, or $0.17 per share, in Q1 2025. In response to weakened financial performance, Organogenesis initiated a restructuring plan in March 2026, reducing its workforce by 10% and closing its St. Petersburg, Florida facility, incurring an $8.8 million charge.
Key Highlights
- Organogenesis initiated a restructuring plan in March 2026, cutting 88 employees (10% of workforce).
- Total revenue for Q1 2026 decreased 57.1% to $37.2 million from $86.7 million year-over-year.
- Net loss widened to $53.2 million, or $0.44 per share, from $18.8 million, or $0.17 per share.
- Advanced Wound Care net product revenue declined significantly to $29.5 million from $79.9 million.
- Restructuring charges totaled $8.8 million, including $4.9 million for intangible asset write-downs.
- Net cash provided by operating activities improved to $21.1 million from $(19.9) million used in Q1 2025.
Price Impact
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