Organogenesis posts Q3 2026 net loss as wound care sales fall 73%, cuts full-year revenue outlook

Organogenesis Holdings Inc. reported financial results for the third quarter ended September 30, 2026 on November 5, 2026. Net revenue was $45.5 million for the quarter, a decrease of $105.0 million compared to net revenue of $150.5 million for the third quarter of 2025.¹ Within that total, Advanced Wound Care product revenue fell 73% while Surgical & Sports Medicine revenue fell 19% from the same period a year earlier.¹

The company posted a net loss of $29.6 million for the quarter, compared to net income of $21.6 million in the third quarter of 2025.¹ CEO Gary S. Gillheeney, Sr. said the company is strengthening its position in regenerative medicine, with sequential revenue growth and broad-based market share gains, and said it is building a sustainable future for advanced wound care anchored by living cell products.

For fiscal 2026, the company now expects total net revenue between $179.4 million and $200.0 million, a decline of 65% to 68% from $564.2 million in 2025.¹ That updated guidance assumes sequential improvement in fourth-quarter revenue trends but at a slower pace than prior guidance, with a second-half decline of roughly 68% to 74% year over year compared to a prior range of 64% to 74%.

On the balance sheet, the company had $26.9 million in cash, cash equivalents and restricted cash and no outstanding debt obligations as of September 30, 2026, down from $94.3 million as of December 31, 2025.¹ The release lists risk factors including CMS's updated 2026 Medicare reimbursement and coverage changes and uncertainty around regulatory approval and commercialization of Amnuvx, though no new regulatory timeline was disclosed in this release.