Organogenesis (ORGO) 10-Q 9 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Aug. 01, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Document Transition Report	false
Entity Registrant Name	ORGANOGENESIS HOLDINGS INC.
Entity Central Index Key	0001661181
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Trading Symbol	ORGO
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Address, State or Province	MA
Title of 12(b) Security	Class A Common Stock, $0.0001 par value
Security Exchange Name	NASDAQ
Document Quarterly Report	true
Entity Common Stock, Shares Outstanding		131,311,852
Securities Act File Number	001-37906
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	85 Dan Road
Entity Address, City or Town	Canton
Entity Address, Postal Zip Code	02021
Entity Tax Identification Number	98-1329150
City Area Code	781
Local Phone Number	575-0775

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 88,917	$ 102,478
Restricted cash	591	812
Accounts receivable, net	93,615	89,450
Inventory, net	25,364	24,783
Prepaid expenses and other current assets	7,948	5,086
Total current assets	216,435	222,609
Property and equipment, net	111,825	102,463
Intangible assets, net	18,330	20,789
Goodwill	28,772	28,772
Operating lease right-of-use assets, net	43,544	43,192
Deferred tax asset, net	30,014	30,014
Other assets	1,393	1,520
Total assets	450,313	449,359
Current liabilities:
Current portion of term loan, net of debt issuance costs	5,480	4,538
Current portion of finance lease obligations	209
Current portion of operating lease obligations	12,592	11,708
Accounts payable	27,390	32,330
Accrued expenses and other current liabilities	27,784	26,447
Total current liabilities	73,455	75,023
Term loan, net of current portion and debt issuance costs	63,489	66,231
Finance lease obligations, net of current portion	402
Operating lease obligations, net of current portion	40,495	41,314
Other liabilities	1,190	1,122
Total liabilities	179,031	183,690
Commitments and contingencies (Note 18)
Stockholders' equity:
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued
Common stock, $0.0001 par value; 400,000,000 shares authorized; 132,040,400 and 131,647,677 shares issued; 131,311,852 and 130,919,129 shares outstanding at June 30, 2023 and December 31, 2022, respectively.	13	13
Additional paid-in capital	314,838	310,957
Accumulated deficit	(43,569)	(45,301)
Total stockholders' equity	271,282	265,669
Total liabilities and stockholders' equity	$ 450,313	$ 449,359

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	132,040,400	131,647,677
Common stock, shares outstanding	131,311,852	130,919,129

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Net revenue	$ 117,316	$ 121,401	$ 224,958	$ 218,518
Cost of goods sold	26,316	26,652	52,923	51,732
Gross profit	91,000	94,749	172,035	166,786
Operating expenses:
Selling, general and administrative	70,317	72,609	144,151	136,187
Research and development	10,938	10,205	22,140	18,792
Total operating expenses	81,255	82,814	166,291	154,979
Income from operations	9,745	11,935	5,744	11,807
Other expense, net:
Interest expense	(594)	(730)	(1,243)	(1,467)
Other income (expense), net	28	(21)	51	(24)
Total other expense, net	(566)	(751)	(1,192)	(1,491)
Net income before income taxes	9,179	11,184	4,552	10,316
Income tax expense	(3,863)	(2,440)	(2,205)	(2,485)
Net income	$ 5,316	$ 8,744	$ 2,347	$ 7,831
Net income, per share:
Basic	$ 0.04	$ 0.07	$ 0.02	$ 0.06
Diluted	$ 0.04	$ 0.07	$ 0.02	$ 0.06
Weighted-average common shares outstanding
Basic	131,293,398	129,635,682	131,189,405	129,214,541
Diluted	133,066,010	132,600,579	132,475,908	132,705,206

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect of Adoption	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Deficit Cumulative Effect of Adoption
Balance at Dec. 31, 2021	$ 241,335		$ 13	$ 302,155	$ (60,833)
Balance (in shares) at Dec. 31, 2021			128,680,192
Exercise of stock options	2,042			2,042
Exercise of stock options (in shares)			1,845,897
Vesting of RSUs, net of shares surrendered to pay taxes	(646)			(646)
Vesting of RSUs, net of shares surrendered to pay taxes (in shares)			155,795
Issuance of common stock associated with business acquisition (in shares)			203,485
Issuance of common stock associated with business acquisition	828			828
Stock-based compensation expense	2,995			2,995
Net income (loss)	7,831				7,831
Balance at Jun. 30, 2022	254,385		$ 13	307,374	(53,002)
Balance (in shares) at Jun. 30, 2022			130,885,369
Balance at Mar. 31, 2022	241,528		$ 13	303,261	(61,746)
Balance (in shares) at Mar. 31, 2022			128,887,184
Exercise of stock options	1,751			1,751
Exercise of stock options (in shares)			1,759,776
Vesting of RSUs, net of shares surrendered to pay taxes	(158)			(158)
Vesting of RSUs, net of shares surrendered to pay taxes (in shares)			34,924
Issuance of common stock associated with business acquisition (in shares)			203,485
Issuance of common stock associated with business acquisition	828
Stock-based compensation expense	1,692			1,692
Net income (loss)	8,744				8,744
Balance at Jun. 30, 2022	254,385		$ 13	307,374	(53,002)
Balance (in shares) at Jun. 30, 2022			130,885,369
Balance at Dec. 31, 2022	$ 265,669	$ (615)	$ 13	310,957	(45,301)	$ (615)
Balance (in shares) at Dec. 31, 2022	130,919,129		130,919,129
Accounting Standards Update [Extensible Enumeration]	ASC 2016-13
Vesting of RSUs, net of shares surrendered to pay taxes	$ (332)			(332)
Vesting of RSUs, net of shares surrendered to pay taxes (in shares)			392,723
Stock-based compensation expense	4,213			4,213
Net income (loss)	2,347				2,347
Balance at Jun. 30, 2023	$ 271,282		$ 13	314,838	(43,569)
Balance (in shares) at Jun. 30, 2023	131,311,852		131,311,852
Balance at Mar. 31, 2023	$ 263,701		$ 13	312,573	(48,885)
Balance (in shares) at Mar. 31, 2023			131,226,387
Vesting of RSUs, net of shares surrendered to pay taxes	(34)			(34)
Vesting of RSUs, net of shares surrendered to pay taxes (in shares)			85,465
Stock-based compensation expense	2,299			2,299
Net income (loss)	5,316				5,316
Balance at Jun. 30, 2023	$ 271,282		$ 13	$ 314,838	$ (43,569)
Balance (in shares) at Jun. 30, 2023	131,311,852		131,311,852

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net Income	$ 2,347	$ 7,831
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	4,922	2,875
Amortization of intangible assets	2,459	2,442
Reduction in the carrying value of right-of-use assets	3,893	3,649
Non-cash interest expense	215	217
Deferred interest expense	245	291
Provision recorded for credit losses	190	122
Loss on disposal of property and equipment	65	196
Adjustment for excess and obsolete inventories	3,464	5,228
Stock-based compensation	4,213	2,995
Changes in operating assets and liabilities:
Accounts receivable	(4,970)	(6,485)
Inventory	(4,045)	(3,441)
Prepaid expenses and other current assets	(2,874)	(1,839)
Operating leases	(4,178)	(3,472)
Accounts payable	(3,535)	2,671
Accrued expenses and other current liabilities	1,091	(1,697)
Other liabilities	67	23
Net cash provided by operating activities	3,569	11,606
Cash flows from investing activities:
Purchases of property and equipment	(15,061)	(12,840)
Net cash used in investing activities	(15,061)	(12,840)
Cash flows from financing activities:
Payments of term loan under the 2021 Credit Agreement	(1,875)	(938)
Payments of withholding taxes in connection with RSUs vesting	(332)	(646)
Proceeds from the exercise of stock options		2,042
Principal repayments of finance lease obligations	(83)	(200)
Payment of deferred acquisition consideration		(608)
Net cash used in financing activities	(2,290)	(350)
Change in cash, cash equivalents and restricted cash	(13,782)	(1,584)
Cash, cash equivalents, and restricted cash, beginning of period	103,290	114,528
Cash, cash equivalents, and restricted cash, end of period	89,508	112,944
Supplemental disclosure of cash flow information:
Cash paid for interest	2,608	1,041
Cash paid for income taxes	3,022	974
Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment included in accounts payable and accrued expenses	1,882	6,546
Right-of-use assets obtained through lease obligations	$ 4,253	364
Shares issued for deferred acquisition consideration		$ 828

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 5,316	$ 8,744	$ 2,347	$ 7,831

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Nature of Business and Basis of

Nature of Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business and Basis of Presentation	1. Nature of Business and Basis of Presentation Organogenesis Holdings Inc. (“ORGO” or the “Company”) is a leading regenerative medicine company focused on the development, manufacture, and commercialization of solutions for the Advanced Wound Care and Surgical & Sports Medicine markets. Several of the existing and pipeline products in the Company’s portfolio have Premarket Application (“PMA”) approval, or Premarket Notification 510(k) clearance from the United States Food and Drug Administration (“FDA”). The Company’s customers include hospitals, wound care centers, government facilities, ambulatory service centers (“ASCs”) and physician offices. The Company has one operating and reportable segment. COVID-19 pandemic On April 10, 2023, President Biden signed a joint congressional resolution ending the national emergency related to COVID-19, and the Biden Administration ended the public health emergency declaration related to COVID-19 on May 11, 2023. Nonetheless, COVID-19 continues to present a public health and economic challenge around the world, and the Company continues to closely monitor the impact of the pandemic on all aspects of its business. While the COVID-19 pandemic has not materially adversely affected the Company’s financial results and business operations through June 30, 2023, the Company is unable to predict the impact that COVID-19 (including the emergence of new variants) will have on its financial position and operating results in the future. Liquidity and Capital Resources Since its inception, the Company funded its operations and capital expenditures through cash flows from product sales, loans from affiliates and entities controlled by certain of its affiliates, third-party debt and proceeds from the sale of its capital stock. As of June 30, 2023, the Company had an accumulated deficit of $ 43,569 and working capital of $ 142,980 which included $ 88,917 in cash and cash equivalents. It also has $ 125.0 million available for future revolving borrowings under its Revolving Facility (see Note “13. Long-Term Debt Obligations”). For the six months ended June 30, 2023, it reported net revenue of $ 224,958 , a net income of $ 2,347 and $ 3,569 of cash inflows from operating activities. The Company expects that its cash on hand and other components of working capital as of June 30, 2023, availability under the 2021 Credit Agreement, plus net cash flows from product sales, will be sufficient to fund its operating expenses, capital expenditure requirements, and debt service payments for at least 12 months beyond the filing date of this quarterly report. The Company continues to closely monitor ongoing developments in connection with the COVID-19 pandemic that could negatively affect its commercial prospects, cash position, and access to capital in fiscal 2023 or beyond. The Company is also closely monitoring ongoing developments in connection with the published local coverage determinations as discussed in “Part II, Item 1A—Risk Factors” of this Form 10-Q, which may negatively impact its revenue and projected cash position. The Company will continue to assess its cash and other sources of liquidity and, if circumstances warrant, make appropriate adjustments to its operating plan.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies The Company’s significant accounting policies are described in Note “2. Significant Accounting Policies” to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (the “Annual Report”). There have been no material changes to the significant accounting policies previously disclosed in the Annual Report. Unaudited Interim Financial Information The accompanying unaudited condensed consolidated financial statements have been prepared by management in accordance with generally accepted accounting principles in the United States (“GAAP”), and the rules and regulations of the SEC regarding interim financial reporting. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. While we believe that the disclosures presented are adequate in order to make the information not misleading, these unaudited quarterly financial statements should be read in conjunction with the financial statements and notes thereto included in the Annual Report. The unaudited condensed consolidated financial statements include the accounts and results of operations of Organogenesis Holdings Inc. and its wholly-owned subsidiaries, Organogenesis Inc., Organogenesis GmbH (a Switzerland corporation) and Prime Merger Sub, LLC. All intercompany balances and transactions have been eliminated in consolidation. The Company considers events or transactions that occur after the balance sheet date but before the financial statements are issued to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. In the opinion of management, the unaudited condensed consolidated financial statements reflect all adjustments of a normal recurring nature necessary for a fair presentation of the Company’s financial position, results of operations and cash flows at the dates and for the periods indicated. The results for the six months ended June 30, 2023 are not necessarily indicative of the results to be expected for the year ending December 31, 2023 , any other interim periods, or any future years or periods. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported results of operations during the reporting periods. In preparing the condensed consolidated financial statements, the estimates and assumptions that management consider to be significant and that present the greatest amount of uncertainty include: revenue recognition; sales returns and credit losses; inventory reserve; recognition and measurement of current and deferred income tax assets and liabilities; the assessment of recoverability of long-lived and indefinite lived assets (including intangible assets); assessing impairment of goodwill; and the valuation and recognition of stock-based compensation. Actual results and outcomes may differ significantly from those estimates and assumptions. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist of cash and cash equivalents. The Company invests its cash equivalents in highly rated money market funds. Deposits may exceed federally insured limits, and the Company is exposed to credit risk on deposits in the event of default by the financial institutions to the extent account balances exceed the amount insured by the Federal Deposit Insurance Corporation (“FDIC”). However, the Company mitigates the risk by sweeping cash daily overnight and diversifies among financial institutions to reduce such exposure. Recently Issued Accounting Pronouncements Adopted Credit Loss In June 2016, the FASB issued ASU 2016-13 , Financial Instruments—Credit Losses (Topic 326) : Measurement of Credit Losses on Financial Instruments . The FASB subsequently issued a few amendments to ASU 2016-13. ASU 2016-13 and all the related updates replace the incurred loss impairment methodology previously required under generally accepted accounting principles, with an expected loss methodology that requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The Company adopted the standard as of January 1, 2023 using the modified retrospective method. Under this method, the Company applied the new credit loss measurement guidance to trade accounts receivable, the only financial asset of the Company that is impacted by the ASU and the related updates. The Company recorded a net reduction of $ 615 to the opening balance of retained earnings as the cumulative effect of initially applying the standard. Results for reporting periods beginning after January 1, 2023 are presented in accordance with Topic 326 . Prior period amounts have not been restated and are reported in accordance with legacy GAAP requirements.

Acquisition

Acquisition	6 Months Ended
	Jun. 30, 2023
Business Combinations [Abstract]
Acquisition	3. Acquisition On September 17, 2020 (the “Acquisition Date”), the Company acquired certain assets and assumed certain liabilities of CPN Biosciences, LLC (“CPN”) pursuant to an asset purchase agreement dated July 24, 2020. CPN offered a physician office management solution and advanced wound care products. The aggregate consideration amounted to $ 19,024 as of the Acquisition Date, consisting of $ 6,427 in cash, 2,151,438 shares of the Company’s Class A common stock with a fair value of $ 8,815 , and contingent consideration (the “Earnout”) with a fair value of $ 3,782 . On the Acquisition Date, the Company paid $ 5,820 in cash and issued 1,947,953 shares of the Company’s Class A common stock. The remaining consideration of $ 1,436 was held back and was released in April 2022 by the Company paying $ 608 in cash and issuing 203,485 shares of the Company’s Class A common stock to the former equity holders of CPN. The Company was obligated to pay the Earnout to CPN’s former equity holders if CPN’s legacy product revenue in the Earnout Period (July 1, 2021 to June 30, 2022), exceeded CPN’s 2019 revenue. The amount of the Earnout, if any, would be equal to 70 % of the excess and would be payable 60 days after the expiration of the Earnout Period. As of the conclusion of the Earnout Period on June 30, 2022, the Company calculated the Earnout liability to be $ 0 . During the Earnout Period, the Company assessed the fair value of the Earnout liability at each reporting period. Subsequent changes in the estimated fair value of the liability were reflected in earnings until the liability was settled. See Note “5. Fair Value Measurement of Financial Assets and Liabilities.”

Revenue

Revenue	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue	4. Revenue The Company generates revenue through the sale of Advanced Wound Care and Surgical & Sports Medicine products. There is a single performance obligation in all of the Company’s contracts, which is the Company’s promise to transfer the Company’s products to customers based on specific payment and shipping terms in the arrangement. Product revenue is recognized when a customer obtains control of the Company’s products which occurs at a point in time and may be upon shipment, procedure date, or delivery, based on the terms of the contract. Revenue is recorded net of a reserve for returns, discounts and Group Purchasing Organization (“GPO”) rebates, which represent a direct reduction to the revenue recognized. These reductions are accrued at the time revenue is recognized, based upon historical experience and specific circumstances. For the three months ended June 30, 2023 and 2022, the Company recorded GPO fees of $ 1,466 and $ 2,334 , respectively, as a direct reduction of revenue. For the six months ended June 30, 2023 and 2022, the Company recorded GPO fees of $ 2,890 and $ 3,953 , respectively, as a direct reduction of revenue. The following tables set forth revenue by product category: Three Months Ended 2023 2022 Advanced Wound Care $ 110,075 $ 113,791 Surgical & Sports Medicine 7,241 7,610 Total net revenue $ 117,316 $ 121,401 Six Months Ended 2023 2022 Advanced Wound Care $ 210,992 $ 203,881 Surgical & Sports Medicine 13,966 14,637 Total net revenue $ 224,958 $ 218,518 For all periods presented, net revenue generated outside the United States represented less than 1 % of total net revenue.

Fair Value Measurement of Finan

Fair Value Measurement of Financial Assets and Liabilities	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurement of Financial Assets and Liabilities	5. Fair Value Measurement of Financial Assets and Liabilities Earnout Liability In connection with accountin g for the CPN acquisition on September 17, 2020, the Company recorded an Earnout liability of $ 3,782 on the Acquisition Date, representing the fair value of contingent consideration payable upon the achievement of a certain revenue target. The Earnout liability was classified as a Level 3 measurement within the fair value hierarchy for which fair value was derived from inputs that were unobservable and significant to the overall fair value measurement. The fair value of such Earnout liability was estimated using a Monte Carlo simulation model that utilized key assumptions including forecasted revenues and volatilities of the underlying financial metrics during the Earnout Period that ended on June 30, 2022. Before its settlement, the Company assessed the fair value of the Earnout liability at each reporting period. Any subsequent changes in the estimated fair value of the liability were reflected in selling, general and administrative expenses until the liability was settled. Since September 30, 2021, the Earnout liability remained at $ 0 through its settlement. For more information about the Earnout liability, refer to Note “3. Acquisition.” The Company did not have any financial assets and liabilities measured at fair value on a non-recurring basis as of June 30, 2023 and December 31, 2022 .

Accounts Receivable, Net

Accounts Receivable, Net	6 Months Ended
	Jun. 30, 2023
Receivables [Abstract]
Accounts Receivable, Net	6. Accounts Receivable, Net Accounts receiva ble consisted of the following: June 30, December 31, 2023 2022 Accounts receivable $ 100,266 $ 95,812 Less — allowance for credit losses ( 6,651 ) ( 6,362 ) $ 93,615 $ 89,450 The Company ’s allowance for credit losses was comprised of the following: Three Months Ended Six Months Ended 2023 2022 2023 2022 Balance at beginning of period $ 6,921 $ 5,127 $ 6,362 $ 5,153 Cumulative effect of adopting ASU 2016-13 - - 615 - Additions (adjustments) ( 53 ) 82 190 122 Write-offs ( 217 ) ( 187 ) ( 516 ) ( 253 ) Balance at end of period $ 6,651 $ 5,022 $ 6,651 $ 5,022

Inventories

Inventories	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventories	7. Inventories Inventories, net of related reserves for excess and obsolescence, consisted of the following: June 30, December 31, 2023 2022 Raw materials $ 13,274 $ 12,282 Work in process 1,717 1,022 Finished goods 10,373 11,479 $ 25,364 $ 24,783 Raw materials include various components used in the Company’s manufacturing process. The Company’s excess and obsolete inventory review process includes analysis of sales forecasts and historical sales as compared to inventory level, and working with operations to maximize recovery of excess inventory. During the three months ended June 30, 2023 and 2022, the Company charged $ 2,057 and $ 3,023 , respectively, for inventory excess and obsolescence to cost of goods sold within the condensed consolidated statements of operations. During the six months ended June 30, 2023 and 2022, the Company charged $ 3,464 and $ 5,228 , respectively, for inventory excess and obsolescence to cost of goods sold within the condensed consolidated statements of operations.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Prepaid Expenses and Other Current Assets	8. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist ed of the following: June 30, December 31, Subscriptions $ 4,389 $ 4,211 Conferences and marketing expenses 489 106 Deposits 1,157 635 Insurance 1,862 54 Other 51 80 $ 7,948 $ 5,086 Deposits are funds held by vendors which are expected to be released within twelve months and therefore they are recorded as current assets.

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	9. Property and Equipment, Net Property and equipme nt consisted of the following: June 30, December 31, 2023 2022 Leasehold improvements $ 53,788 $ 37,607 Buildings 4,943 4,943 Furniture, computers and equipment 60,210 57,147 118,941 99,697 Accumulated depreciation ( 67,717 ) ( 62,798 ) Construction in progress 60,601 65,564 $ 111,825 $ 102,463 Depreciation expense was $ 2,228 and $ 1,528 for the three months ended June 30, 2023 and 2022, respectively. Depreciation expense was $ 4,922 and $ 2,875 for the six months ended June 30, 2023 and 2022, respectively. Construction in progress primarily represents unfinished construction work on a purchased building located on the Company’s Canton, Massachusetts campus and improvements at the Company’s leased facilities in Canton and Norwood, Massachusetts.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	10. Goodwill and Intangible Assets Goodwill was $ 28,772 as of June 30, 2023 and December 31, 2022. Intangible assets consisted of the following as of June 30, 2023: Original Accumulated Net Book Cost Amortization Value Developed technology $ 32,620 $ ( 22,916 ) $ 9,704 Trade names and trademarks 2,080 ( 1,491 ) 589 Customer relationships 10,690 ( 2,984 ) 7,706 Independent sales agency network 4,500 ( 4,500 ) - Patent 7,623 ( 7,623 ) - Non-compete agreements 1,010 ( 679 ) 331 Total $ 58,523 $ ( 40,193 ) $ 18,330 Intangible assets consisted of the following as of December 31, 2022: Original Accumulated Net Book Cost Amortization Value Developed technology $ 32,620 $ ( 21,164 ) $ 11,456 Trade names and trademarks 2,080 ( 1,393 ) 687 Customer relationship 10,690 ( 2,450 ) 8,240 Independent sales agency network 4,500 ( 4,500 ) - Patent 7,623 ( 7,623 ) - Non-compete agreements 1,010 ( 604 ) 406 Total $ 58,523 $ ( 37,734 ) $ 20,789 Amortization of intangible assets, calculated on a straight-line basis or using an accelerated method, was $ 1,229 and $ 1,221 for the three months ended June 30, 2023 and 2022, respectively, and $ 2,459 and $ 2,442 for the six months ended June 30, 2023 and 2022 , respectively. The weighted average remaining useful lives for developed technology, trade names and trademarks, customer relationship, and non-compete agreements are 4.6 years, 4.8 years, 7.3 years, and 2.3 years, respectively, as of June 30, 2023.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	11. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following: June 30, December 31, 2023 2022 Personnel costs $ 19,466 $ 17,113 Royalties 3,210 3,320 Accrued but unpaid lease obligations and interest 2,082 2,463 Accrued taxes 1,696 2,625 Accrued litigation 564 150 Other 766 776 $ 27,784 $ 26,447 The accrued but unpaid lease obligations and the interest accrual on these obligations are related to the buildings in Canton, Massachusetts. See Note “17. Leases.”

Restructuring

Restructuring	6 Months Ended
	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring	12. Restructuring In order to reduce the Company’s cost structure and improve operating efficiency, the Company consolidated its manufacturing operations in various locations into Massachusetts facilities. On October 21, 2020, the Company committed to a plan to restructure its workforce and operations in its La Jolla, California facilities. The restructuring involved 65 em ployees and was substantially completed as of December 31, 2021, with certain facility and storage activities continuing through 2024. On March 9, 2022, the Company committed to a plan to restructure its workforce and operations in its Birmingham, Alabama facilities. The restructuring involved 24 employees and was substantially completed as of December 31, 2022 , with minimal expenses incurred in the first quarter of 2023. On February 3, 2023, the Company committed to a plan to restructure its workforce to increase productivity and enhance profitability. The reduction in force reduced the Company’s headcount by 71 employees, or approximately 7 % of all employees. The Company incurred a t otal charge of $ 1,609 in the s ix months ending on June 30, 2023 in connection with the restructuring, primarily consisting of severance payments. It was substantially completed as of March 31, 2023. As a result of the restructuring activities, the Company recorded a pre-tax adjustment of $( 126 ) and a pre-tax charge of $ 643 during the three months ended June 30, 2023 and 2022 , respectively, and $ 1,782 and $ 907 during the six months ended June 30, 2023 and 2022. These charges were included in selling, general and administrative expenses in the condensed consolidated statements of operations. The liability related to the restructuring activities was $ 298 and $ 1,192 a s of June 30, 2023 and December 31, 2022, respectively, and w as included in accrued expenses and other current liabilities in the condensed consolidated balance sheets. The following table provides a roll-forward of the restructuring liabilities. Employee Other Total Liability balance as of December 31, 2022 $ 1,010 $ 182 $ 1,192 Expenses 1,609 173 1,782 Payments ( 2,321 ) ( 355 ) ( 2,676 ) Liability balance as of June 30, 2023 $ 298 $ - $ 298 Employee Other Total Liability balance as of December 31, 2021 $ 2,517 $ 651 $ 3,168 Expenses 638 269 907 Payments ( 2,517 ) ( 897 ) ( 3,414 ) Liability balance as of June 30, 2022 $ 638 $ 23 $ 661

Debt Obligations

Debt Obligations	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt Obligations	13. Debt Obligations Debt obligations consisted of the following: June 30, December 31, 2023 2022 Line of credit $ - $ - Term loan 69,375 71,250 Less debt discount and debt issuance cost ( 406 ) ( 481 ) Term loan, net of debt discount and debt issuance cost $ 68,969 $ 70,769 2021 Credit Agreement In August 2021, the Company, as borrower, its subsidiaries, as guarantors, and Silicon Valley Bank ( “SVB”), and the several other lenders thereto (collectively, the “Lenders”) entered into a credit agreement, as amended (the “2021 Credit Agreement”), providing for a term loan facility not to exceed $ 75,000 (the “Term Loan Facility”) and a revolving credit facility not to exceed $ 125,000 (the “Revolving Facility”). The Company’s obligations to the Lenders are secured by substantially all of the Company’s assets, including intellectual property. Capitalized terms used herein and not otherwise defined are defined as set forth in the 2021 Credit Agreement. Advances made under the 2021 Credit Agreement may be either SOFR Loans or ABR Loans, at the Company’s option. For SOFR Loans, the interest rate is a per annum interest rate equal to the Adjusted Term SOFR plus an Applicable Margin between 2.00 % to 3.25 % based on the Total Net Leverage Ratio. For ABR Loans, the interest rate is equal to (1) the highest of (a) the Wall Street Journal Prime Rate, (b) the Federal Funds Rate plus 0.50% and (c) the Adjusted Term SOFR rate plus 1.0%, plus (2) an Applicable Margin between 1.00 % to 2.25 % based on the Total Net Leverage Ratio. The 2021 Credit Agreement requires the Company to make consecutive quarterly installment payments equal to the following: (a) from September 30, 2021 through and including June 30, 2022, $ 469 ; (b) from September 30, 2022 through and including June 30, 2023, $ 938 ; (c) from September 30, 2023 through and including June 30, 2025, $ 1,406 and (d) from September 30, 2025 and the last day of each quarter thereafter until August 6, 2026 (the “Term Loan Maturity Date”), $ 1,875 . The remaining principal balance of $ 50,625 is also due on the Term Loan Maturity Date. The Company may prepay the Term Loan Facility. Once repaid, amounts borrowed under the Term Loan Facility may not be re-borrowed. The Company must pay in arrears, on the first day of each quarter prior to August 6, 2026 (the “Revolving Termination Date”) and on the Revolving Termination Date, a fee for the Company’s non-use of available funds (the “Commitment Fee”). The Commitment Fee rate is between 0.25 % to 0.45 % based on the Total Net Leverage Ratio. The Company may elect to reduce or terminate the Revolving Facility in its entirety at any time by repaying all outstanding principal and unpaid accrued interest. Under the 2021 Credit Agreement, the Company is required to comply with certain financial covenants including the Consolidated Fixed Charge Coverage Ratio and Consolidated Total Net Leverage Ratio, tested quarterly. In addition, the Company is also required to make representations and warranties and comply with certain non-financial covenants that are customary in loan agreements of this type, including restrictions on the payment of dividends, repurchase of stock, incurrence of indebtedness, dispositions and acquisitions. The C ompany recorded debt issuance costs and related fees of $ 604 in connection with entering into the Term Loan Facility, as a reduction of the carrying value of the term loan on the Company’s condensed consolidated balance sheets. In connection with entering into the Revolving Facility, the Company recorded debt issuance costs and related fees of $ 1,223 as other assets. Both of these costs are being amortized to interest expense through the maturity date of the facilities. As of June 30, 2023 and December 31, 2022, the Company had outstanding borrowings of $ 69,375 an d $ 71,250 under the Term Loan Facility, respectively, and $ 0 under the Revolving Facility with $ 125,000 available for future revolving borrowings. Future payments of the 2021 Credit Agreement, as of June 30, 2023, are as follows for the calendar years ending December 31: 2023 2,812 2024 5,625 2025 6,563 2026 54,375 Total $ 69,375

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Stockholders' Equity	14. Stockholders’ Equity Common Stock As of June 30, 2023 , the issued shares of Class A common stock include 728,548 treasury shares that were reacquired in connection with the redemption of redeemable shares in March 2019. As of June 30, 2023 and December 31, 2022, the Company reserved the following shares of Class A common stock for future issuance: June 30, December 31, 2023 2022 Shares reserved for issuance for outstanding options 9,422,495 5,931,742 Shares reserved for issuance for outstanding restricted stock units 3,989,750 1,381,500 Shares reserved for issuance for future grants 4,889,579 11,394,962 Total shares of authorized common stock reserved for future issuance 18,301,824 18,708,204

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	15. Stock-Based Compensation Stock Incentive Plans-the 2018 Plan On November 28, 2018, the Board of Directors of the Company adopted, and on December 10, 2018 the Company’s stockholders approved, the Organogenesis 2018 Equity and Incentive Plan (the “2018 Plan”). The purposes of the 2018 Plan are to provide long-term incentives and rewards to the Company’s employees, officers, directors and other key persons (including consultants), to attract and retain persons with the requisite experience and ability, and to more closely align the interests of such employees, officers, directors and other key persons with the interests of the Company’s stockholders. The 2018 Plan authorizes the Company’s Board of Directors or a committee of not less than two independent directors (in either case, the “Administrator”) to grant the following types of awards: non-statutory stock options; incentive stock options; restricted stock awards; restricted stock units; stock appreciation rights; unrestricted stock awards; performance share awards; and dividend equivalent rights. The 2018 Plan is administered by the Company’s Board of Directors. At the adoption of the 2018 Plan, a total of 9,198,996 shares of Class A common stock was authorized to be issued (subject to adjustment in the case of any stock dividend, stock split, reverse stock split, or similar change in capitalization of the Company). In June 2022, the 2018 Plan was amended to increase the number of shares of Class A common stock reserved for issuance by 7,826,970 shares. Stock Incentive Plans-the 2003 Plan The Organogenesis 2003 Stock Incentive Plan (the “2003 Plan”), provides for the Company to issue restricted stock awards, or to grant incentive stock options or non-statutory stock options. Incentive stock options may be granted only to the Company’s employees. Restricted stock awards and non-statutory stock options may be granted to employees, members of the Board of Directors, outside advisors and consultants of the Company. Effective December 10, 2018, no additional awards may be made under the 2003 Plan and as a result (i) any shares in respect of stock options that are expired or terminated under the 2003 Plan without having been fully exercised will not be available for future awards; (ii) any shares in respect of restricted stock that are forfeited to, or otherwise repurchased by the Company, will not be available for future awards; and (iii) any shares of Class A common stock that are tendered to the Company by a participant to exercise an award will not be available for future awards. Stock-Based Compensation Expense Stock options awarded under the stock incentive plans expire 10 years after the grant date and typically vest over four or five years . Restricted stock units awarded typically vest over four years. Stock-based compensation expense was $ 2,299 and $ 1,692 for the three months ended June 30, 2023 and 2022, respectively, and was $ 4,213 and $ 2,995 for the six months ended June 30, 2023 and 2022, respectively. The total amount of stock-based compensation expense was included within selling, general and administrative expenses on the condensed consolidated statements of operations. Restricted Stock Units (RSUs) The Company granted 3,192,372 and 979,257 time -based restricted stock units to its employees, executives and the Board of Directors in the six months ended June 30, 2023 and 2022, respectively. Each restricted stock unit represents the contingent right to receive one share of the Company’s Class A common stock. A majority of the restricted stock units will vest in four equal annual installments. The fair value of the restricted stock units was based on the fair market value of the Company’s stock on the date of grant. The activity of restricted stock un its is set forth below: Number Weighted Average of RSUs Grant Date Fair Value Unvested at December 31, 2022 1,381,500 $ 7.62 Granted 3,192,372 2.47 Vested ( 517,790 ) 7.25 Canceled/Forfeited ( 66,332 ) 6.25 Unvested at June 30, 2023 3,989,750 $ 3.57 As of June 30, 2023, the total unrecognized compensation cost related to unvested restricted stock units expected to vest was $ 9,561 and the weighted average remaining recognition period for unvested awards was 2.82 years. Stock Options The stock options granted during the six months ended June 30, 2023 and 2022 wer e 3,554,528 and 1,418,224 , resp ectively. The assumptions that the Company used to determine the grant-date fair value of stock options granted during these periods were as follows, presented on a weig hted-average basis: June 30, June 30, 2023 2022 Risk-free interest rate 3.99 % 1.92 % Expected term (in years) 6.24 6.25 Expected volatility 51.00 % 50.66 % Expected dividend yield 0.0 % 0.0 % Exercise price $ 2.51 $ 8.03 Underlying stock price $ 2.47 $ 7.87 These assumptions resulted in an estimated weighted-average grant-date fair value per share of stock options granted during the six months ended June 30, 2023 and 2022 of $ 1.32 and $ 3.94 , respectively. The following table summarizes the Company’s stock option activity sin ce December 31, 2022: Weighted Average Weighted Remaining Average Contractual Aggregate Number of Exercise Term Intrinsic Options Price (in years) Value Outstanding as of December 31, 2022 5,931,042 $ 5.91 6.14 $ 2,245 Granted 3,554,528 2.51 Exercised - - - Canceled / forfeited ( 63,075 ) 8.71 Outstanding as of June 30, 2023 9,422,495 4.61 7.15 6,010 Options exercisable as of June 30, 2023 4,033,237 4.56 4.55 3,136 Options vested or expected to vest as of June 30, 2023 8,264,297 $ 4.67 6.85 $ 5,321 The aggregate intrinsic value of stock options is calculated as the difference between the exercise price of the stock options and the fair value of the Company’s Class A common stock for those stock options that have exercise prices lower than the fair value of the Company’s Class A common stock. The total fair value of options vested during the six months ended June 30, 2023 and 2022 was $ 3,070 and $ 2,029 , respectively. As of June 30, 2023, the total unrecognized stock compensation expense related to unvested stock options expected to vest was $ 7,883 and was expected to be recognized over a weighted-average period of 2.74 years.

Earnings Per Share (EPS)

Earnings Per Share (EPS)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings per Share (EPS)	16 . Earnings per Share (EPS) Basic EPS is calculated by dividing net income (loss) by the weighted-average number of shares outstanding during the period. Diluted EPS is calculated by dividing net income (loss) by the weighted-average number of shares outstanding plus the dilutive effect, if any, of outstanding equity awards using the treasury stock method which includes consideration of unrecognized compensation expenses as additional proceeds. A reconciliation of the numerator and denominator used in the calculation of the basic and diluted net income attributable to the Class A common stockholders is as follows. Three Months Ended Six Months Ended 2023 2022 2023 2022 Numerator: Net Income $ 5,316 $ 8,744 $ 2,347 $ 7,831 Denominator: Weighted average common shares outstanding —basic 131,293,398 129,635,682 131,189,405 129,214,541 Dilutive effect of restricted stock units 863,523 147,600 461,352 205,838 Dilutive effect of options 909,089 2,817,297 825,151 3,284,827 Weighted-average common shares outstanding—diluted 133,066,010 132,600,579 132,475,908 132,705,206 Earnings per share—basic $ 0.04 $ 0.07 $ 0.02 $ 0.06 Earnings per share—diluted $ 0.04 $ 0.07 $ 0.02 $ 0.06 The Company’s potentially dilutive securities include restricted stock units and stock options to purchase shares of Class A common stock. For the three and six months ended June 30, 2023 , outstanding stock-based awards of 8,676,433 and 8,763,403 , respectively, were excluded from the diluted EPS calculation as they were anti-dilutive. For the three and six months ended June 30, 2022 , outstanding stock-based awards of 3,755,497 and 3,378,641 , respectively, were excluded from the diluted EPS calculation as they were anti-dilutive.

Leases

Leases	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Leases	17. Leases The Company’s leases consist primarily of real estate, equipment and vehicle leases. The Company leases real estate for office, lab, warehouse and production space under noncancelable leases that expire at various dates through 2035, subject to the Company’s options to terminate or renew certain leases for an additional five to ten years . The Company leases vehicles under operating leases for certain employees and has fleet services agreements for service on these vehicles. The minimum lease term for each newly leased vehicle is 367 days with renewal options. The Company may terminate the vehicle lease after the minimum lease term upon thirty days’ prior notice. The Company also leases other equipment under noncancelable leases that expire at various dates through 2026. On January 1, 2013, the Company entered into finance lease arrangements with 65 Dan Road SPE, LLC, 85 Dan Road Associates, LLC, Dan Road Equity I, LLC and 275 Dan Road SPE, LLC for office and laboratory space in Canton, Massachusetts. 65 Dan Road SPE, LLC, 85 Dan Road Associates, LLC, Dan Road Equity I, LLC and 275 Dan Road SPE, LLC are related parties as the owners of these entities are also directors, former directors and / or stockholders of the Company. In August 2021, the Company purchased the building under the lease with 275 Dan Road SPE, LLC (the “275 Dan Road Building”) for $ 6,013 and the lease was terminated. Other than the lease with 275 Dan Road SPE, LLC which was terminated in August 2021, the remaining three leases were set to terminate on December 31, 2022, and each contained a renewal option for a five-year period with a rental rate at the greater of (i) rent for the last year of the prior term, or (ii) the then fair market value. The Company exercised the option to extend the leases for an additional five years in November 2021. It remeasured the lease assets and liabilities based on its best estimate of the market rental rate in the renewal period and reassessed the classification for these leases according to ASC 842-10-25-1 Lease Classification. As a result, these leases were reclassified from finance leases to operating leases . The related finance lease assets and liabilities were reclassified to operating lease right-of-use assets and operating lease obligations on the condensed consolidated balance sheet as of December 31, 2021. In December 2022, the Company and the landlord finalized the market rental rate in the renewal period for these properties, resulting in an additional $ 8,060 to be recorded as variable lease expenses over the renewal period. The Company owes some accrued but unpaid lease obligations under the aforementioned leases. Effective April 1, 2019, the Company accrued interest on the accrued but unpaid lease obligations at an interest rate of 9.25 %. In connection with the purchase of the 275 Dan Road Building in August 2021, the Company paid 50 % of the accrued but unpaid lease obligations associated with this building and the accrued interest thereof. The remaining balance for this building was paid off in five quarterly installments ending on January 3, 2023. The accrued but unpaid lease obligations as well as the related interest ac cruals are shown below. June 30, December 31, 2023 2022 Principal portion of rent in arrears 5,273 5,779 Total accrued but unpaid lease obligations 5,273 5,779 Accrued interest on accrued but unpaid lease obligations 2,082 1,956 Before being paid off in January 2023, the principal portion of rent in arrears related to the 275 Dan Road Building as well as the interest accrual were included in accrued expenses and other current liabilities on the consolidated balance sheet as of December 31, 2022. For the other three buildings, the principal portion of rent in arrears was included in the short-term portion of operating lease obligations on the condensed consolidated balance sheets as of June 30, 2023 and December 31, 2022. The accrued interest on the accrued but unpaid lease obligations was included in accrued expenses and other current liabilities on the condensed consolidated balance sheets as of June 30, 2023 and December 31, 2022. The components of lease co st were as follows: Classification Six Months Ended 2023 2022 Finance lease Amortization of right-of-use assets COGS and SG&A $ 58 $ 213 Interest on lease liabilities Interest Expense 11 7 Total Finance lease cost 69 220 Operating lease cost COGS, R&D, SG&A 4,779 4,808 Short-term lease cost COGS, R&D, SG&A 1,491 1,391 Variable lease cost COGS, R&D, SG&A 3,370 2,201 Total lease cost $ 9,709 $ 8,620 Supplemental balance sheet information related to finance l eases was as follows: June 30, 2023 December 31, 2022 Property and equipment, gross $ 1,867 $ 1,174 Accumulated depreciation ( 1,232 ) ( 1,174 ) Property and equipment, net $ 635 $ - Finance lease obligations $ ( 611 ) $ - Supplemental cash flow information related t o leases was as follows: Six Months Ended 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases 5,059 4,630 Operating cash flows for finance leases 11 7 Financing cash flows for finance leases 83 200 Right-of-use assets obtained in exchange for lease obligations Operating leases 4,253 364 Finance leases 693 - June 30, 2023 December 31, 2022 Weighted-average remaining lease term Finance leases 2.76 - Operating leases 6.90 7.54 June 30, 2023 December 31, 2022 Weighted-average discount rate Finance leases 6.80 % - Operating leases 4.77 % 4.61 % As of June 30, 2023, maturities of lease liabilities were as follows: Operating leases Finance leases 2023 (remaining 6 months) $ 10,176 $ 122 2024 8,818 244 2025 8,938 244 2026 7,542 61 2027 8,002 - Thereafter 18,679 - Total lease payments 62,155 671 Less: interest ( 9,068 ) ( 60 ) Total lease liabilities $ 53,087 $ 611

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure	18. Commitments and Contingencies Royalties The Company entered into a license agreement with a university for certain patent rights related to the development, use, and production of one of its advanced wound care products. Under this agreement, the Company incurred a royalty based on a percentage of net product sales, for the use of these patents until the patents expired, which was in November 2006. Accrued royalties totaled $ 1,187 as of June 30, 2023 and December 31, 2022 , respectively, and were classified as part of accrued expenses and other current liabilities on the Company’s condensed consolidated balance sheets. There was no royalty expense incurred during the six months ended June 30, 2023 or 2022 related to this agreement. In October 2017, the Company entered into a license agreement with a third party. Under the license agreement, the Company is required to pay royalties based on a percentage of net sales of the licensed product that occur, after December 31, 2017, through the e xpiration of the underlying patent in October 2026, subject to minimum royalty payment provisions. The Company recorded royalty expense under this license agreement of $ 1,592 and $ 2,104 during the three months ended June 30, 2023 and 2022 , respectively, and $ 3,032 and $ 3,705 during the six months ended June 30, 2023 and 2022, respectively, within selling, general and administrative expenses on the condensed consolidated statements of operations. Legal Matters In conducting its activities, the Company, from time to time, is subject to various claims and also has claims against others. In management’s opinion, the ultimate resolution of such claims would not have a material effect on the financial position, operating results or cash flows of the Company. The Company accrues for these claims when amounts due are probable and estimable. The Compan y accrued $ 564 and $ 150 as of June 30, 2023 and December 31, 2022 , respectively, for certain pending or settled lawsuits.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	19. Related Party Transactions Lease obligations to affiliates, including accrued but unpaid lease obligations, purchase of an asset under a finance lease with an affiliate, and renewal of leases with affiliates are further described in Note “17. Leases.”

Taxes

Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Taxes	20. Taxes The Company is principally subject to taxation in the United States. The Company has a history of net operating losses both federally and in various states and began utilizing those losses to offset current taxable income in 2020. As net operating loss carryovers become limited or are fully utilized, the Company will accrue current federal and state income tax expense. The Company’s wholly owned Swiss subsidiary, Organogenesis GmbH, is subject to taxation in Switzerland and has a transfer pricing arrangement in place with Organogenesis Inc., its U.S. parent. The income tax rate for the six months ended June 30, 2023 varied from the U.S. statutory rate of 21 % primarily due to the tax adjustments related to executive compensation, other permanent tax adjustments, and discrete items. The income tax expense for the six months ended June 30, 2023 was $ 2,205 , which included a discrete ta x expense of $ 45 related primarily to the interest on certain uncertain tax positions. Income tax expense for the six months ended June 30, 2022 was $ 2,485 , which included a discrete tax expense of $ 23 related to the interest on certain uncertain tax positions. The Company examines all positive and negative evidence to estimate whether sufficient future taxable income in the U.S. will be generated to permit the use of existing deferred tax assets. In the fourth quarter of 2021, the Company released the valuation allowance recorded against its U.S. deferred tax assets. Upon reviewing the positive evidence of net operating loss utilization, cumulative profits, and forecasted taxable income, the Company believed that it was more likely than not that these U.S. deferred tax assets would be utilized. There are no material deferred tax assets in the other jurisdictions. On a quarterly basis, the Company reassesses the need for a valuation allowance on deferred income tax assets, weighing positive and negative evidence to assess the recoverability of the deferred tax assets. After assessing both the positive and negative evidence, including net operating loss utilization, cumulative profits, and forecasted taxable income, the Company determined that it is more likely than not the U.S. deferred assets will be realized in full. As such, the Company did not record a valuation allowance against its U.S. deferred tax assets as of June 30, 2023 and December 31, 2022 .

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	21. Subsequent Events The Company has evaluated subsequent events through August 9, 2023, the date on which these condensed consolidated financial statements were issued and has determined that there are no such events to report.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Unaudited Interim Financial Information	Unaudited Interim Financial Information The accompanying unaudited condensed consolidated financial statements have been prepared by management in accordance with generally accepted accounting principles in the United States (“GAAP”), and the rules and regulations of the SEC regarding interim financial reporting. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. While we believe that the disclosures presented are adequate in order to make the information not misleading, these unaudited quarterly financial statements should be read in conjunction with the financial statements and notes thereto included in the Annual Report. The unaudited condensed consolidated financial statements include the accounts and results of operations of Organogenesis Holdings Inc. and its wholly-owned subsidiaries, Organogenesis Inc., Organogenesis GmbH (a Switzerland corporation) and Prime Merger Sub, LLC. All intercompany balances and transactions have been eliminated in consolidation. The Company considers events or transactions that occur after the balance sheet date but before the financial statements are issued to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. In the opinion of management, the unaudited condensed consolidated financial statements reflect all adjustments of a normal recurring nature necessary for a fair presentation of the Company’s financial position, results of operations and cash flows at the dates and for the periods indicated. The results for the six months ended June 30, 2023 are not necessarily indicative of the results to be expected for the year ending December 31, 2023 , any other interim periods, or any future years or periods.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported results of operations during the reporting periods. In preparing the condensed consolidated financial statements, the estimates and assumptions that management consider to be significant and that present the greatest amount of uncertainty include: revenue recognition; sales returns and credit losses; inventory reserve; recognition and measurement of current and deferred income tax assets and liabilities; the assessment of recoverability of long-lived and indefinite lived assets (including intangible assets); assessing impairment of goodwill; and the valuation and recognition of stock-based compensation. Actual results and outcomes may differ significantly from those estimates and assumptions.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist of cash and cash equivalents. The Company invests its cash equivalents in highly rated money market funds. Deposits may exceed federally insured limits, and the Company is exposed to credit risk on deposits in the event of default by the financial institutions to the extent account balances exceed the amount insured by the Federal Deposit Insurance Corporation (“FDIC”). However, the Company mitigates the risk by sweeping cash daily overnight and diversifies among financial institutions to reduce such exposure.
Recently Adopted Accounting Pronouncements	Recently Issued Accounting Pronouncements Adopted Credit Loss In June 2016, the FASB issued ASU 2016-13 , Financial Instruments—Credit Losses (Topic 326) : Measurement of Credit Losses on Financial Instruments . The FASB subsequently issued a few amendments to ASU 2016-13. ASU 2016-13 and all the related updates replace the incurred loss impairment methodology previously required under generally accepted accounting principles, with an expected loss methodology that requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The Company adopted the standard as of January 1, 2023 using the modified retrospective method. Under this method, the Company applied the new credit loss measurement guidance to trade accounts receivable, the only financial asset of the Company that is impacted by the ASU and the related updates. The Company recorded a net reduction of $ 615 to the opening balance of retained earnings as the cumulative effect of initially applying the standard. Results for reporting periods beginning after January 1, 2023 are presented in accordance with Topic 326 . Prior period amounts have not been restated and are reported in accordance with legacy GAAP requirements.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Revenue by Product Category	The following tables set forth revenue by product category: Three Months Ended 2023 2022 Advanced Wound Care $ 110,075 $ 113,791 Surgical & Sports Medicine 7,241 7,610 Total net revenue $ 117,316 $ 121,401 Six Months Ended 2023 2022 Advanced Wound Care $ 210,992 $ 203,881 Surgical & Sports Medicine 13,966 14,637 Total net revenue $ 224,958 $ 218,518

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	6 Months Ended
	Jun. 30, 2023
Receivables [Abstract]
Schedule of Accounts Receivable	Accounts receiva ble consisted of the following: June 30, December 31, 2023 2022 Accounts receivable $ 100,266 $ 95,812 Less — allowance for credit losses ( 6,651 ) ( 6,362 ) $ 93,615 $ 89,450
Summary of Allowance for Credit Losses	The Company ’s allowance for credit losses was comprised of the following: Three Months Ended Six Months Ended 2023 2022 2023 2022 Balance at beginning of period $ 6,921 $ 5,127 $ 6,362 $ 5,153 Cumulative effect of adopting ASU 2016-13 - - 615 - Additions (adjustments) ( 53 ) 82 190 122 Write-offs ( 217 ) ( 187 ) ( 516 ) ( 253 ) Balance at end of period $ 6,651 $ 5,022 $ 6,651 $ 5,022

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventories, net of related reserves for excess and obsolescence, consisted of the following: June 30, December 31, 2023 2022 Raw materials $ 13,274 $ 12,282 Work in process 1,717 1,022 Finished goods 10,373 11,479 $ 25,364 $ 24,783

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Schedule of prepaid expenses and other current assets	Prepaid expenses and other current assets consist ed of the following: June 30, December 31, Subscriptions $ 4,389 $ 4,211 Conferences and marketing expenses 489 106 Deposits 1,157 635 Insurance 1,862 54 Other 51 80 $ 7,948 $ 5,086

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and equipme nt consisted of the following: June 30, December 31, 2023 2022 Leasehold improvements $ 53,788 $ 37,607 Buildings 4,943 4,943 Furniture, computers and equipment 60,210 57,147 118,941 99,697 Accumulated depreciation ( 67,717 ) ( 62,798 ) Construction in progress 60,601 65,564 $ 111,825 $ 102,463

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets consisted of the following as of June 30, 2023: Original Accumulated Net Book Cost Amortization Value Developed technology $ 32,620 $ ( 22,916 ) $ 9,704 Trade names and trademarks 2,080 ( 1,491 ) 589 Customer relationships 10,690 ( 2,984 ) 7,706 Independent sales agency network 4,500 ( 4,500 ) - Patent 7,623 ( 7,623 ) - Non-compete agreements 1,010 ( 679 ) 331 Total $ 58,523 $ ( 40,193 ) $ 18,330 Intangible assets consisted of the following as of December 31, 2022: Original Accumulated Net Book Cost Amortization Value Developed technology $ 32,620 $ ( 21,164 ) $ 11,456 Trade names and trademarks 2,080 ( 1,393 ) 687 Customer relationship 10,690 ( 2,450 ) 8,240 Independent sales agency network 4,500 ( 4,500 ) - Patent 7,623 ( 7,623 ) - Non-compete agreements 1,010 ( 604 ) 406 Total $ 58,523 $ ( 37,734 ) $ 20,789

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Accrued Liabilities	Accrued expenses and other current liabilities consisted of the following: June 30, December 31, 2023 2022 Personnel costs $ 19,466 $ 17,113 Royalties 3,210 3,320 Accrued but unpaid lease obligations and interest 2,082 2,463 Accrued taxes 1,696 2,625 Accrued litigation 564 150 Other 766 776 $ 27,784 $ 26,447

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Summary of liability related to the restructuring activities	The following table provides a roll-forward of the restructuring liabilities. Employee Other Total Liability balance as of December 31, 2022 $ 1,010 $ 182 $ 1,192 Expenses 1,609 173 1,782 Payments ( 2,321 ) ( 355 ) ( 2,676 ) Liability balance as of June 30, 2023 $ 298 $ - $ 298 Employee Other Total Liability balance as of December 31, 2021 $ 2,517 $ 651 $ 3,168 Expenses 638 269 907 Payments ( 2,517 ) ( 897 ) ( 3,414 ) Liability balance as of June 30, 2022 $ 638 $ 23 $ 661

Debt Obligations (Tables)

Debt Obligations (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of debt obligations	Debt obligations consisted of the following: June 30, December 31, 2023 2022 Line of credit $ - $ - Term loan 69,375 71,250 Less debt discount and debt issuance cost ( 406 ) ( 481 ) Term loan, net of debt discount and debt issuance cost $ 68,969 $ 70,769
Schedule of future payments of term loan facility	Future payments of the 2021 Credit Agreement, as of June 30, 2023, are as follows for the calendar years ending December 31: 2023 2,812 2024 5,625 2025 6,563 2026 54,375 Total $ 69,375

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Schedule Of Common Stock Shares Reserved For Future Issuance	As of June 30, 2023 and December 31, 2022, the Company reserved the following shares of Class A common stock for future issuance: June 30, December 31, 2023 2022 Shares reserved for issuance for outstanding options 9,422,495 5,931,742 Shares reserved for issuance for outstanding restricted stock units 3,989,750 1,381,500 Shares reserved for issuance for future grants 4,889,579 11,394,962 Total shares of authorized common stock reserved for future issuance 18,301,824 18,708,204

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Unvested Restricted Stock Units	The activity of restricted stock un its is set forth below: Number Weighted Average of RSUs Grant Date Fair Value Unvested at December 31, 2022 1,381,500 $ 7.62 Granted 3,192,372 2.47 Vested ( 517,790 ) 7.25 Canceled/Forfeited ( 66,332 ) 6.25 Unvested at June 30, 2023 3,989,750 $ 3.57
Schedule of Fair Value of Stock Options Granted to Employees and Directors	The assumptions that the Company used to determine the grant-date fair value of stock options granted during these periods were as follows, presented on a weig hted-average basis: June 30, June 30, 2023 2022 Risk-free interest rate 3.99 % 1.92 % Expected term (in years) 6.24 6.25 Expected volatility 51.00 % 50.66 % Expected dividend yield 0.0 % 0.0 % Exercise price $ 2.51 $ 8.03 Underlying stock price $ 2.47 $ 7.87
Summary of Stock Option Activity	The following table summarizes the Company’s stock option activity sin ce December 31, 2022: Weighted Average Weighted Remaining Average Contractual Aggregate Number of Exercise Term Intrinsic Options Price (in years) Value Outstanding as of December 31, 2022 5,931,042 $ 5.91 6.14 $ 2,245 Granted 3,554,528 2.51 Exercised - - - Canceled / forfeited ( 63,075 ) 8.71 Outstanding as of June 30, 2023 9,422,495 4.61 7.15 6,010 Options exercisable as of June 30, 2023 4,033,237 4.56 4.55 3,136 Options vested or expected to vest as of June 30, 2023 8,264,297 $ 4.67 6.85 $ 5,321

Earnings Per Share (EPS) (Table

Earnings Per Share (EPS) (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	A reconciliation of the numerator and denominator used in the calculation of the basic and diluted net income attributable to the Class A common stockholders is as follows. Three Months Ended Six Months Ended 2023 2022 2023 2022 Numerator: Net Income $ 5,316 $ 8,744 $ 2,347 $ 7,831 Denominator: Weighted average common shares outstanding —basic 131,293,398 129,635,682 131,189,405 129,214,541 Dilutive effect of restricted stock units 863,523 147,600 461,352 205,838 Dilutive effect of options 909,089 2,817,297 825,151 3,284,827 Weighted-average common shares outstanding—diluted 133,066,010 132,600,579 132,475,908 132,705,206 Earnings per share—basic $ 0.04 $ 0.07 $ 0.02 $ 0.06 Earnings per share—diluted $ 0.04 $ 0.07 $ 0.02 $ 0.06

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Schedule of Accrued But Unpaid Lease Obligations	The accrued but unpaid lease obligations as well as the related interest ac cruals are shown below. June 30, December 31, 2023 2022 Principal portion of rent in arrears 5,273 5,779 Total accrued but unpaid lease obligations 5,273 5,779 Accrued interest on accrued but unpaid lease obligations 2,082 1,956
Schedule of Lease Cost	The components of lease co st were as follows: Classification Six Months Ended 2023 2022 Finance lease Amortization of right-of-use assets COGS and SG&A $ 58 $ 213 Interest on lease liabilities Interest Expense 11 7 Total Finance lease cost 69 220 Operating lease cost COGS, R&D, SG&A 4,779 4,808 Short-term lease cost COGS, R&D, SG&A 1,491 1,391 Variable lease cost COGS, R&D, SG&A 3,370 2,201 Total lease cost $ 9,709 $ 8,620
Summary of Balance Sheet Information Related To Finance Leases	Supplemental balance sheet information related to finance l eases was as follows: June 30, 2023 December 31, 2022 Property and equipment, gross $ 1,867 $ 1,174 Accumulated depreciation ( 1,232 ) ( 1,174 ) Property and equipment, net $ 635 $ - Finance lease obligations $ ( 611 ) $ -
Summary of Cash Flow Information Related To Leases	Supplemental cash flow information related t o leases was as follows: Six Months Ended 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases 5,059 4,630 Operating cash flows for finance leases 11 7 Financing cash flows for finance leases 83 200 Right-of-use assets obtained in exchange for lease obligations Operating leases 4,253 364 Finance leases 693 - June 30, 2023 December 31, 2022 Weighted-average remaining lease term Finance leases 2.76 - Operating leases 6.90 7.54 June 30, 2023 December 31, 2022 Weighted-average discount rate Finance leases 6.80 % - Operating leases 4.77 % 4.61 %
Summary of Maturities of Lease Liabilities	As of June 30, 2023, maturities of lease liabilities were as follows: Operating leases Finance leases 2023 (remaining 6 months) $ 10,176 $ 122 2024 8,818 244 2025 8,938 244 2026 7,542 61 2027 8,002 - Thereafter 18,679 - Total lease payments 62,155 671 Less: interest ( 9,068 ) ( 60 ) Total lease liabilities $ 53,087 $ 611

Nature of Business and Basis _2

Nature of Business and Basis of Presentation - Additional Information (Detail) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) Segments	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Aug. 06, 2021 USD ($)
Nature of Business and Basis of Presentation [Line Items]
Number of Reportable Segments | Segments			1
Accumulated deficit	$ (43,569)		$ (43,569)		$ (45,301)
Working capital	142,980		$ 142,980
Number of Operating Segments | Segments			1
Cash and cash equivalents	88,917		$ 88,917		$ 102,478
Net revenue	117,316	$ 121,401	224,958	$ 218,518
Net Income (Loss)	5,316	$ 8,744	2,347	7,831
Cash inflows from operating activities			3,569	$ 11,606
Revolving Credit Facility [Member] | 2021 Credit Agreement
Nature of Business and Basis of Presentation [Line Items]
Maximum borrowing capacity	$ 125,000		$ 125,000			$ 125,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Significant Accounting Policies [Line Items]
Net reduction retained earnings	$ (43,569)	$ (45,301)
Accounting Standards Update [Extensible Enumeration]	ASU 2016-13
ASU 2016-13
Significant Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jan. 01, 2023
Net reduction retained earnings	$ (615)

Acquisition - Additional Inform

Acquisition - Additional Information (Detail) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended	6 Months Ended
	Sep. 17, 2020	Apr. 30, 2022	Jun. 30, 2022	Jun. 30, 2022	Sep. 30, 2021
Business Acquisitions, Contingent Consideration Liability Noncurrent	$ 3,782		$ 0	$ 0	$ 0
CPN Biosciences, LLC
Business Acquisitions, Aggregate Consideration	19,024
Payments​ to acquire businesses gross	5,820
Consideration heldback	$ 1,436
Earnout Calculation	70%
CPN Biosciences, LLC | Total Consideration Including Holdback [Member]
Payments​ to acquire businesses gross	$ 6,427
CPN Biosciences, LLC | Payment Of Holdback [Member]
Payments​ to acquire businesses gross		$ 608
Common Stock
Issuance of common stock associated with business acquisition			203,485	203,485
Common Stock | CPN Biosciences, LLC
Issuance of common stock associated with business acquisition	1,947,953
Common Stock | CPN Biosciences, LLC | Total Consideration Including Holdback [Member]
Business Acquisitions, Number Of Shares Issued	2,151,438
Business Acquisitions, Equity Interests Issued And Issuable	$ 8,815
Common Stock | CPN Biosciences, LLC | Payment Of Holdback [Member]
Issuance of common stock associated with business acquisition		203,485

Revenue - Schedule of Revenue b

Revenue - Schedule of Revenue by Product Category (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Total net revenue	$ 117,316	$ 121,401	$ 224,958	$ 218,518
Advanced Wound Care
Total net revenue	110,075	113,791	210,992	203,881
Surgical & Sports Medicine
Total net revenue	$ 7,241	$ 7,610	$ 13,966	$ 14,637

Revenue - Additional Informatio

Revenue - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Significant Accounting Policies [Line Items]
Group purchase organization rebate	$ 1,466	$ 2,334	$ 2,890	$ 3,953
Sales Revenue | Geographic Concentration Risk | International
Significant Accounting Policies [Line Items]
Concentration Risk, Percentage			1%

Fair Value Measurement of Fin_2

Fair Value Measurement of Financial Assets and Liabilities - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Sep. 30, 2021	Sep. 17, 2020
Earnout liability	$ 0	$ 0	$ 3,782

Accounts Receivable, Net - Summ

Accounts Receivable, Net - Summary of Accounts Receivable (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Receivables [Abstract]
Accounts receivable	$ 100,266	$ 95,812
Less - allowance for credit losses	(6,651)	(6,362)
Accounts receivable	$ 93,615	$ 89,450

Accounts Receivable, Net - Su_2

Accounts Receivable, Net - Summary of Allowance for Credit Losses (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Balance at beginning of period	$ 6,921	$ 5,127	$ 6,362	$ 5,153
Additions (adjustments)	(53)	82	190	122
Write-offs	(217)	(187)	(516)	(253)
Balance at end of period	$ 6,651	$ 5,022	6,651	$ 5,022
Cumulative Effect of Adoption
Balance at beginning of period			$ 615

Inventories - Summary of Invent

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Raw materials	$ 13,274	$ 12,282
Work in process	1,717	1,022
Finished goods	10,373	11,479
Inventory	$ 25,364	$ 24,783

Inventories - Additional Inform

Inventories - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Inventory reserve and obsolescence charged to cost of goods	$ 2,057	$ 3,023	$ 3,464	$ 5,228

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Subscriptions	$ 4,389	$ 4,211
Conferences and marketing expenses	489	106
Deposits	1,157	635
Insurance	1,862	54
Other	51	80
Prepaid Expense	$ 7,948	$ 5,086

Property and Equipment, Net (De

Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Property and equipment, gross	$ 118,941	$ 99,697
Accumulated depreciation	(67,717)	(62,798)
Property and Equipment, Net, Total	111,825	102,463
Leasehold improvements
Property and equipment, gross	53,788	37,607
Buildings
Property and equipment, gross	4,943	4,943
Furniture, computers and equipment
Property and equipment, gross	60,210	57,147
Construction in progress
Property and Equipment, Net, Total	$ 60,601	$ 65,564

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Depreciation expense	$ 2,228	$ 1,528	$ 4,922	$ 2,875

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Intangible assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Original Cost	$ 58,523	$ 58,523
Accumulated Amortization	(40,193)	(37,734)
Net Book Value	18,330	20,789
Developed technology
Original Cost	32,620	32,620
Accumulated Amortization	(22,916)	(21,164)
Net Book Value	9,704	11,456
Trade names and trademarks
Original Cost	2,080	2,080
Accumulated Amortization	(1,491)	(1,393)
Net Book Value	589	687
Customer relationships
Original Cost	10,690	10,690
Accumulated Amortization	(2,984)	(2,450)
Net Book Value	7,706	8,240
Independent sales agency network
Original Cost	4,500	4,500
Accumulated Amortization	(4,500)	(4,500)
Patent
Original Cost	7,623	7,623
Accumulated Amortization	(7,623)	(7,623)
Non-compete agreements
Original Cost	1,010	1,010
Accumulated Amortization	(679)	(604)
Net Book Value	$ 331	$ 406

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Goodwill	$ 28,772		$ 28,772		$ 28,772
Amortization of Intangible Assets	$ 1,229	$ 1,221	$ 2,459	$ 2,442
Developed technology
Weighted average remaining useful life			4 years 7 months 6 days
Trade names and trademarks
Weighted average remaining useful life			4 years 9 months 18 days
Customer relationships
Weighted average remaining useful life			7 years 3 months 18 days
Non-compete agreements
Weighted average remaining useful life			2 years 3 months 18 days

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Personnel costs	$ 19,466	$ 17,113
Royalties	3,210	3,320
Accrued but unpaid lease obligations and interest	2,082	2,463
Accrued taxes	1,696	2,625
Accrued litigation	564	150
Other	766	776
Total Accrued Expenses and Other Current Liabilities	$ 27,784	$ 26,447

Restructuring - Summary of liab

Restructuring - Summary of liability related to the restructuring activities (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Restructuring Cost and Reserve [Line Items]
Liability balance as of beginning		$ 1,192	$ 3,168
Expenses	$ 643	1,782	907
Payments		(2,676)	(3,414)
Liability balance as of ending	661	298	661
Employee
Restructuring Cost and Reserve [Line Items]
Liability balance as of beginning		1,010	2,517
Expenses		1,609	638
Payments		(2,321)	(2,517)
Liability balance as of ending	638	298	638
Other
Restructuring Cost and Reserve [Line Items]
Liability balance as of beginning		182	651
Expenses		173	269
Payments		$ (355)	(897)
Liability balance as of ending	$ 23		$ 23

Restructuring - Additional Info

Restructuring - Additional Information (Detail) $ in Thousands		3 Months Ended		6 Months Ended
	Feb. 03, 2023 Employees	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Mar. 09, 2022 Employees	Oct. 21, 2020 Employees
Restructuring Cost and Reserve [Line Items]
Number of reduction in employees | Employees	71
Percentage of reduction in employees	7%
Severance payments				$ 1,609
Restructuring adjustment		$ (126)
Restructuring Charges			$ 643	1,782	$ 907
Restructuring Reserve Current		$ 298		298		$ 1,192
Birmingham Restructuring
Restructuring Cost and Reserve [Line Items]
Number of employees to retention Benefits | Employees							24
Employee Cost
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				1,609	638
Facility and Other
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				$ 173	$ 269
La Jolla Restructuring
Restructuring Cost and Reserve [Line Items]
Number of employees to retention Benefits | Employees								65

Debt Obligations (Detail)

Debt Obligations (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Line of credit	$ 0	$ 0
Term loan	69,375	71,250
Less debt discount and debt issuance cost	(406)	(481)
Term loan, net of debt discount and debt issuance cost	$ 68,969	$ 70,769

Debt Obligations - Additional I

Debt Obligations - Additional Information (Detail) - USD ($) $ in Thousands		6 Months Ended
	Aug. 06, 2021	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Line of credit		$ 0		$ 0
Secured debt		69,375		71,250
Term payment		1,875	$ 938
2021 Credit Agreement
Financial covenants	Under the 2021 Credit Agreement, the Company is required to comply with certain financial covenants including the Consolidated Fixed Charge Coverage Ratio and Consolidated Total Net Leverage Ratio, tested quarterly. In addition, the Company is also required to make representations and warranties and comply with certain non-financial covenants that are customary in loan agreements of this type, including restrictions on the payment of dividends, repurchase of stock, incurrence of indebtedness, dispositions and acquisitions.
Debt Instrument, Description of Variable Rate Basis	For SOFR Loans, the interest rate is a per annum interest rate equal to the Adjusted Term SOFR plus an Applicable Margin between 2.00% to 3.25% based on the Total Net Leverage Ratio. For ABR Loans, the interest rate is equal to (1) the highest of (a) the Wall Street Journal Prime Rate, (b) the Federal Funds Rate plus 0.50% and (c) the Adjusted Term SOFR rate plus 1.0%, plus (2) an Applicable Margin between 1.00% to 2.25% based on the Total Net Leverage Ratio.
2021 Credit Agreement | Maximum [Member] | SOFR Loans [Member] | Applicable Margin [Member]
'Debt instrument interest and applicable margin rate percentage	3.25%
2021 Credit Agreement | Maximum [Member] | ABR Loans [Member] | Applicable Margin [Member]
'Debt instrument interest and applicable margin rate percentage	2.25%
2021 Credit Agreement | Minimum [Member] | SOFR Loans [Member] | Applicable Margin [Member]
'Debt instrument interest and applicable margin rate percentage	2%
2021 Credit Agreement | Minimum [Member] | ABR Loans [Member] | Applicable Margin [Member]
'Debt instrument interest and applicable margin rate percentage	1%
Term Loan [Member] | 2021 Credit Agreement
Secured debt		69,375		$ 71,250
Debt Issuance Costs, Net	$ 604
Debt instrument face amount	75,000
Term Loan [Member] | 2021 Credit Agreement | September 30, 2021 through and including June 30, 2022
Debt instrument quarterly installment payment to original principal amount	469
Term Loan [Member] | 2021 Credit Agreement | September 30, 2022 through and including June 30, 2023
Debt instrument quarterly installment payment to original principal amount	938
Term Loan [Member] | 2021 Credit Agreement | September 30, 2023 through and including June 30, 2025
Debt instrument quarterly installment payment to original principal amount	1,406
Term Loan [Member] | 2021 Credit Agreement | September 30, 2025 and the last day of each quarter thereafter until August 6, 2026
Debt instrument quarterly installment payment to original principal amount	1,875
Term Loan [Member] | 2021 Credit Agreement | Due on Term Loan Maturity Date
Remaining principal balance		50,625
Revolving Credit Facility [Member] | 2021 Credit Agreement
Line of credit		0
Maximum borrowing capacity	125,000	$ 125,000
Debt Issuance Costs, Net	$ 1,223
Revolving Credit Facility [Member] | 2021 Credit Agreement | Maximum [Member]
Line of credit facility unused capacity commitment fee percentage	0.45%
Revolving Credit Facility [Member] | 2021 Credit Agreement | Minimum [Member]
Line of credit facility unused capacity commitment fee percentage	0.25%

Debt Obligations - Future payme

Debt Obligations - Future payments of term loan (Detail) $ in Thousands	Jun. 30, 2023 USD ($)
2023	$ 2,812
2024	5,625
2025	6,563
2026	54,375
Total	$ 69,375

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule Of Common Stock Shares Reserved For Future Issuance (Detail) - shares	Jun. 30, 2023	Dec. 31, 2022
Equity [Abstract]
Shares reserved for issuance for outstanding options	9,422,495	5,931,742
Shares reserved for issuance for outstanding restricted stock units	3,989,750	1,381,500
Shares reserved for issuance for future grants	4,889,579	11,394,962
Total shares of authorized common stock reserved for future issuance	18,301,824	18,708,204

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail)	1 Months Ended
	Mar. 24, 2019 shares
Common Class A
Company issued acquisition of shares	728,548

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2018
Fair value of option vested			$ 3,070	$ 2,029
Options granted			3,554,528	1,418,224
Weighted average grant-date fair value			$ 1.32	$ 3.94
Restricted Stock Units [Member]
Unrecognized stock compensation expense	$ 9,561		$ 9,561
Share-based compensation expected to be recognized over a weighted-average period			2 years 9 months 25 days
RSU granted during the period			3,192,372	979,257
Option
Unrecognized stock compensation expense	7,883		$ 7,883
Share-based compensation expected to be recognized over a weighted-average period			2 years 8 months 26 days
Selling, General and Administrative Expenses
Stock-based compensation expense	$ 2,299	$ 1,692	$ 4,213	$ 2,995
2003 and 2018 Stock Incentive Plan | Maximum
Stock option granted vesting period			5 years
2003 and 2018 Stock Incentive Plan | Minimum
Stock option granted vesting period			4 years
2003 and 2018 Stock Incentive Plan | Option
Stock option expiration period			10 years
Common Class A | 2018 Stock Incentive Plan
Common stock awards authorized		7,826,970		7,826,970	9,198,996

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Fair Value of Stock Options Granted to Employees and Directors (Detail) - $ / shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Risk-free interest rate	3.99%	1.92%
Expected term (in years)	6 years 2 months 26 days	6 years 3 months
Expected volatility	51%	50.66%
Expected dividend yield	0%	0%
Exercise price	$ 2.51	$ 8.03
Underlying stock price	$ 2.47	$ 7.87

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Restricted Stock Units (Detail) - Restricted Stock Units (RSUs) [Member] - $ / shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested at December 31, 2022	1,381,500
Unvested Granted	3,192,372	979,257
Unvested Vested	(517,790)
Unvested Canceled/Forfeited	(66,332)
Unvested at June 30, 2023	3,989,750
Unvested at December 31, 2022	$ 7.62
Unvested Granted	2.47
Unvested Vested	7.25
Unvested Canceled/Forfeited	6.25
Unvested at June 30, 2023	$ 3.57

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Number of Options Outstanding	5,931,042
Number of Options Granted	3,554,528	1,418,224
Number of Options Canceled / forfeited	(63,075)
Number of Options Outstanding	9,422,495		5,931,042
Number of Options Options Exercisable	4,033,237
Number of Options Options vested or expected to vest	8,264,297
Weighted Average Exercise Price Outstanding	$ 5.91
Weighted Average Exercise Price Granted	2.51
Weighted Average Exercise Price Cancelled / forfeited	8.71
Weighted Average Exercise Price Outstanding	4.61		$ 5.91
Weighted Average Exercise Price Options Exercisable	4.56
Weighted Average Exercise Price Options Vested or Expected to Vest	$ 4.67
Weighted Average Remaining Contractual Term (in years) Outstanding	7 years 1 month 24 days		6 years 1 month 20 days
Weighted Average Remaining Contractual Term (in years) Options Exercisable	4 years 6 months 18 days
Weighted Average Remaining Contractual Term (in years) Options Vested or Expected to Vest	6 years 10 months 6 days
Aggregate Intrinsic Value Outstanding	$ 2,245
Aggregate Intrinsic Value Outstanding	6,010		$ 2,245
Aggregate Intrinsic Value Options Exercisable	3,136
Aggregate Intrinsic Value Options Vested or Expected to Vest	$ 5,321

Stock-Based Compensation - Pare

Stock-Based Compensation - Parenthetical (Detail) - shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Options granted	3,554,528	1,418,224

Earnings Per Share (EPS) - Basi

Earnings Per Share (EPS) - Basic and diluted net income per share - Basic and diluted net income per share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings per Share [Line Items}
Net Income	$ 5,316	$ 8,744	$ 2,347	$ 7,831
Weighted average common shares outstanding —basic	131,293,398	129,635,682	131,189,405	129,214,541
Weighted-average common shares outstanding—diluted	133,066,010	132,600,579	132,475,908	132,705,206
Earnings per share-basic	$ 0.04	$ 0.07	$ 0.02	$ 0.06
Earnings per share-diluted	$ 0.04	$ 0.07	$ 0.02	$ 0.06
Restricted Stock Units (RSUs) [Member]
Earnings per Share [Line Items}
Weighted-average common shares outstanding—diluted	863,523	147,600	461,352	205,838
Employee Stock Option
Earnings per Share [Line Items}
Weighted-average common shares outstanding—diluted	909,089	2,817,297	825,151	3,284,827

Earnings Per Share (EPS) - Addi

Earnings Per Share (EPS) - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Common Class A
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from the diluted EPS	8,676,433	3,755,497	8,763,403	3,378,641

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Thousands			6 Months Ended		60 Months Ended
	Aug. 11, 2021	Apr. 01, 2019	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2027	Dec. 31, 2022
Interest rate on accrued but unpaid lease obligations		9.25%
Variable lease cost			$ 3,370	$ 2,201
Property and equipment, gross			$ 118,941			$ 99,697
275 Dan Road SPE LLC [Member]
Purchase of building under the lease amount	$ 6,013
Percentage of amount required to pay for the accrued but unpaid lease obligations associated with building	50%
Dan Road Leases [Member] | Scenario Forecast [Member]
Variable lease cost					$ 8,060
Fleet Lease
Lessee, operating lease, term of contract			367 days
Maximum
Lessee, operating lease, renewal term			10 years
Minimum
Lessee, operating lease, renewal term			5 years

Leases - Schedule of Accrued bu

Leases - Schedule of Accrued but Unpaid Lease Obligations (Detail) - Accrued But Unpaid Lease Obligation [Member] - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Schedule Of Accrued But Unpaid Lease Obligations [Line Items]
Accrued interest on accrued but unpaid lease obligations	$ 2,082	$ 1,956
Principal [Member]
Schedule Of Accrued But Unpaid Lease Obligations [Line Items]
Total accrued but unpaid lease obligations	5,273	5,779
Principal, Interest and CAM [Member]
Schedule Of Accrued But Unpaid Lease Obligations [Line Items]
Total accrued but unpaid lease obligations	$ 5,273	$ 5,779

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Cost (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Finance lease Amortization of right-of-use assets	$ 58	$ 213
Finance lease Interest on lease liabilities	11	7
Total Finance lease cost	69	220
Operating lease cost	4,779	4,808
Short-term lease cost	1,491	1,391
Variable lease cost	3,370	2,201
Total lease cost	$ 9,709	$ 8,620

Leases - Summary of Balance She

Leases - Summary of Balance Sheet Information Related To Finance Leases (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Lessee Disclosure [Abstract]
Property and equipment, gross	$ 1,867		$ 1,174
Accumulated depreciation	(1,232)		$ (1,174)
Property and equipment, net	635
Finance lease obligations	$ 209	$ 611

Leases - Summary of Cash Flow I

Leases - Summary of Cash Flow Information Related To Leases (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$ 5,059	$ 4,630
Operating cash flows for finance leases	11	7
Financing cash flows for finance leases	83	200
Right-of-use assets obtained in exchange for lease obligations
Operating leases	4,253	$ 364
Finance leases	$ 693
Weighted-average remaining lease term
Finance leases	2 years 9 months 3 days
Operating leases	6 years 10 months 24 days		7 years 6 months 14 days
Weighted-average discount rate
Finance leases	6.80%
Operating leases	4.77%		4.61%

Leases - Summary of Maturities

Leases - Summary of Maturities of Lease Liabilities (Detail) $ in Thousands	Jun. 30, 2023 USD ($)
Lessee Disclosure [Abstract]
2023 (remaining 6 months), Operating leases	$ 10,176
2024, Operating leases	8,818
2025, Operating leases	8,938
2026, Operating leases	7,542
2027, Operating leases	8,002
Thereafter, Operating leases	18,679
Total lease payments	62,155
Less: interest	(9,068)
Total lease liabilities	53,087
2023 (remaining 6 months), Finance leases	122
2024, Finance leases	244
2025, Finance leases	244
2026, Finance leases	61
Total lease payments	671
Less: interest	(60)
Total lease liabilities	$ 611

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Accrued Legal Expenses	$ 564		$ 564		$ 150
License Agreement Resorba | Selling, General and Administrative Expenses
Royalty Expense	1,592	$ 2,104	3,032	$ 3,705
License Agreement University
Accrued Royalties	$ 1,187		1,187		$ 1,187
Royalty Expense			$ 0	$ 0

Taxes - Additional Information

Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Federal corporate income tax rate			21%
Income tax expense	$ (3,863)	$ (2,440)	$ (2,205)	$ (2,485)
Discreet tax expense			$ 45	$ 23