Exhibit 99.1
FOR IMMEDIATE RELEASE
Organogenesis Holdings Inc. Reports Preliminary Revenue Results for First Quarter 2020
Withdraws Fiscal Year 2020 Revenue Guidance
Announces May 11, 2020 Earnings Conference Call
CANTON, Mass. (April 8, 2020) – Organogenesis Holdings Inc. (Nasdaq: ORGO), a leading regenerative medicine company focused on the development, manufacture, and commercialization of product solutions for the Advanced Wound Care and Surgical & Sports Medicine markets, today reported preliminary revenue results for the three months ended March 31, 2020. In addition, the Company is withdrawing its previously announced revenue guidance for the fiscal year ending December 31, 2020.
First Quarter 2020 Preliminary Revenue Summary:
| • | | Net revenue of between $61.0 million and $61.6 million for the three months ended March 31, 2020, up 7% to 8% compared to net revenue of $57.1 million for the three months ended March 31, 2019. Net revenue is based upon: |
| o | Net revenue from Advanced Wound Care products of between $50.7 million and $51.1 million, up 6% to 7% year-over-year. |
| o | Net revenue from Surgical & Sports Medicine products of between $10.3 million and $10.5 million, up 11% to 13% year-over-year. |
| • | | Net revenue from the sale of PuraPly products of between $32.1 million and $32.5 million for the three months ended March 31, 2019, up 26% to 28% year-over-year. |
Fiscal Year 2020 Revenue Guidance and Business Update:
Due to the rapidly evolving environment and continued uncertainty resulting from the impact ofCOVID-19, Organogenesis Holdings Inc. is withdrawing its previously announced fiscal year 2020 revenue guidance, which was issued on March 9, 2020. The Company has acted quickly in recent weeks to implement a number of measures designed to protect the health and safety of our employees, support our customers and ensure business continuity. The Company is actively reviewing and implementing cost saving measures including discontinuing all non-essential services and programs and instituting controls on travel, events, marketing and clinical studies. The Company plans to provide additional information during its first quarter 2020 earnings call on May 11, 2020.
First Quarter 2020 Earnings Conference Call:
Financial results for the first fiscal quarter of 2020 will be reported after the market closes on Monday, May 11, 2020. Management will host a conference call at 5:00 p.m. Eastern Time on May 11, 2020 to discuss the results of the quarter and provide a corporate update with a question and answer session. Those who would like to participate may dial866-795-3142(409-937-8908 for international callers) and provide access code 3597811. A live webcast of the call will also be provided on the investor relations section of the Company’s website at investors.organogenesis.com. For those unable to participate, a replay of the call will be available for two weeks at855-859-2056(404-537-3406 for international callers); access code 3597811. The webcast will be archived at investors.organogenesis.com.