Congratulations on Strong Q1?
Net revenue of $107.6 million for the first quarter of 2023, an increase of $10.5 million compared to net revenue of $97.1 million.
Worth noting, Selling, general, and administrative expenses were $73.8 million for the first quarter of 2023, compared to $63.6 million in the first quarter of 2022, an increase of $10.3 million, or 16%.
So essentially ORGO Spent +$10.3 Million to Bring in +$10.5 Million.
Net loss of $3.0 million for the first quarter of 2023, compared to a net loss of $0.9 million for the first quarter of 2022, an increase of $2.1 million.
Cash on hand decreased by around $14 Million.
New Guidance for 2023 is Net revenue between $454 million and $466 million.
For Reference 2021 Net Revenue was $468.1 million. So ORGO Does Not anticipate beating their 2021 Numbers.
For Further Reference:
Q1 2023 $107.6 Millions
Q1 2022 $97,117 Million
Q1 2021 $102.6 million
Q4 2022 $115.5 million
Q4 2021 $128.6 million
At the end of the call, it seems the analysis was curious if Organogenesis can even afford to finish the ReNu Studies at the current run rate.
Q2 is going to be very telling. Gary Doesn't seem too confident on another strong quarter. I'm guessing April wasn't a great month.
Net revenue of $107.6 million for the first quarter of 2023, an increase of $10.5 million compared to net revenue of $97.1 million.
Worth noting, Selling, general, and administrative expenses were $73.8 million for the first quarter of 2023, compared to $63.6 million in the first quarter of 2022, an increase of $10.3 million, or 16%.
So essentially ORGO Spent +$10.3 Million to Bring in +$10.5 Million.
Net loss of $3.0 million for the first quarter of 2023, compared to a net loss of $0.9 million for the first quarter of 2022, an increase of $2.1 million.
Cash on hand decreased by around $14 Million.
New Guidance for 2023 is Net revenue between $454 million and $466 million.
For Reference 2021 Net Revenue was $468.1 million. So ORGO Does Not anticipate beating their 2021 Numbers.
For Further Reference:
Q1 2023 $107.6 Millions
Q1 2022 $97,117 Million
Q1 2021 $102.6 million
Q4 2022 $115.5 million
Q4 2021 $128.6 million
At the end of the call, it seems the analysis was curious if Organogenesis can even afford to finish the ReNu Studies at the current run rate.
Q2 is going to be very telling. Gary Doesn't seem too confident on another strong quarter. I'm guessing April wasn't a great month.