Organogenesis Holdings Inc. (ORGO): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Organogénesis Holdings Inc. (Orgo) se encuentra a la vanguardia de la medicina regenerativa, transformando la atención médica a través del cuidado innovador de heridas y soluciones biotecnológicas de vanguardia. Al aprovechar tecnologías y asociaciones estratégicas basadas en células avanzadas, la compañía ha desarrollado un modelo de negocio robusto que une la investigación científica con aplicaciones médicas prácticas. Su enfoque único combina capacidades de fabricación sofisticadas, tecnologías de medicina regenerativa innovadora y una estrategia integral que se dirige a las necesidades críticas de atención médica en múltiples especialidades médicas.

Organogénesis Holdings Inc. (Orgo) - Modelo de negocio: asociaciones clave

Dispositivo médico estratégico y fabricantes de medicina regenerativa

La organogénesis ha establecido asociaciones con los siguientes fabricantes:

Pareja	Tipo de colaboración	Año establecido
Integra Lifesciences	Compartir tecnología de medicina regenerativa	2019
Zimmer Biomet	Desarrollo avanzado de productos de cuidado de heridas	2020

Proveedores de atención médica y hospitales

Las asociaciones clave de la red del hospital incluyen:

• Clínica de mayonesa
• Clínica de Cleveland
• Hospital Johns Hopkins

Investigaciones de instituciones y universidades

Institución	Enfoque de investigación	Compromiso de financiación
Escuela de Medicina de Harvard	Investigación de medicina regenerativa	$ 2.5 millones anuales
MIT	Innovación de biomateriales	$ 1.8 millones anuales

Biotecnología y compañías farmacéuticas

Las colaboraciones estratégicas incluyen:

• Pfizer Inc.
• Novartis AG
• Abbvie Inc.

Redes de distribución médica

Distribuidor	Cobertura geográfica	Volumen de distribución anual
Salud cardinal	Estados Unidos	$ 42 millones en productos médicos
McKesson Corporation	América del norte	$ 36 millones en soluciones regenerativas

Organogénesis Holdings Inc. (Orgo) - Modelo de negocio: actividades clave

Desarrollo avanzado de productos de cuidado de heridas

La organogénesis desarrolla soluciones avanzadas de cuidado de heridas con un enfoque en las tecnologías de medicina regenerativa.

Categoría de productos	Número de productos activos de cuidado de heridas	Inversión anual de I + D
Cuidado de heridas avanzado	7 productos aprobados por la FDA	$ 24.3 millones (2023)

Investigación de medicina regenerativa

La Compañía realiza una extensa investigación en tecnologías de medicina regenerativa.

• La investigación se centra en las terapias celulares
• Programas de investigación activa en curación de heridas
• Plataformas tecnológicas patentadas

Área de investigación	Programas de investigación activos	Personal de investigación
Medicina regenerativa	4 corrientes de investigación primarias	62 científicos de investigación

Fabricación de productos quirúrgicos y biológicos

La organogénesis mantiene capacidades de fabricación especializadas para productos biológicos.

Instalación de fabricación	Capacidad de producción	Cumplimiento de la FDA
Cantón, Massachusetts	250,000 sq. Ft. Instalación	CGMP certificado

Ensayos clínicos e investigación médica

La compañía realiza ensayos clínicos rigurosos para validar las tecnologías médicas.

• Ensayos clínicos en curso en curación de heridas
• Colaboración con instituciones de investigación médica
• Múltiples ensayos clínicos de fase II y III

Categoría de ensayo clínico	Pruebas activas	Presupuesto anual de investigación clínica
Tecnologías de curación de heridas	6 ensayos clínicos activos	$ 18.7 millones (2023)

Comercialización de tecnologías médicas

La organogénesis se centra en llevar tecnologías médicas innovadoras al mercado.

Estrategia de comercialización	Segmentos de mercado	Canales de ventas
Ventas directas y de distribuidores	Cuidado de heridas, mercados quirúrgicos	Ventas directas, distribuidores médicos

Organogénesis Holdings Inc. (Orgo) - Modelo de negocio: recursos clave

Patentes avanzadas de biotecnología y medicina regenerativa

A partir de 2024, la organogénesis Holdings Inc. posee 43 patentes activas en medicina regenerativa y tecnologías avanzadas de cuidado de heridas.

Categoría de patente	Número de patentes	Rango de vencimiento de patentes
Tecnologías de curación de heridas	22	2028-2035
Regeneración de tejidos	15	2029-2037
Terapias basadas en células	6	2030-2039

Instalaciones de fabricación médica especializada

Organogénesis opera 2 instalaciones de fabricación primarias:

• Canton, Massachusetts Sede Instalación: 85,000 pies cuadrados
• Memphis, Centro de producción de Tennessee: 65,000 pies cuadrados

Tecnologías de ingeniería de tejidos y basadas en células patentadas

La empresa mantiene 5 plataformas de tecnología patentadas centrales:

• Tecnología de curación de heridas Apligraf®
• Matriz de heridas antimicrobianas de Puraply®
• Plataforma de regeneración de tejidos Omnigen®
• Reconstrucción de tejidos blando GraftJacket®
• Tecnología de cuidado de heridas Revnx®

Experiencia de investigación y desarrollo

I + D Métrica	2024 datos
Empleados totales de I + D	87
Gastos anuales de I + D	$ 24.3 millones
Ensayos clínicos en curso	6

Personal científico y médico experto

La organogénesis emplea fuerza laboral total de 512 empleados A partir de 2024, con un colapso especializado:

• Investigadores a nivel de doctorado: 42
• Científicos médicos: 35
• Especialistas en investigación clínica: 28
• Técnicos de fabricación: 95
• Especialistas en asuntos regulatorios: 22

Organogénesis Holdings Inc. (Orgo) - Modelo de negocio: propuestas de valor

Soluciones innovadoras de curación de heridas

Organogénesis Holdings Inc. ofrece tecnologías avanzadas de curación de heridas con líneas de productos específicas:

Producto	Segmento de mercado	Ingresos anuales (2023)
Apligraf	Úlceras para el pie diabético	$ 87.3 millones
Dermagraft	Tratamiento de heridas crónicas	$ 42.6 millones

Tecnologías avanzadas de medicina regenerativa

La cartera de medicina regenerativa de la compañía incluye:

• Productos de curación de heridas a base de celular
• Tecnologías de ingeniería de tejidos
• Biológicos para los mercados quirúrgicos y de cuidado de heridas

Productos médicos clínicamente probados

Validación clínica	Métricas estadísticas
Productos aprobados por la FDA	7 tecnologías médicas distintas
Tasa de éxito del ensayo clínico	92.5% en todas las líneas de productos

Enfoques terapéuticos personalizados

Las estrategias de personalización incluyen:

• Protocolos de tratamiento de heridas específicos del paciente
• Soluciones de medicina regenerativa personalizadas
• Intervenciones médicas de precisión

Resultados mejorados del paciente

Métrico de resultado	Indicador de rendimiento
Tasa de curación de heridas	38% más rápido en comparación con los tratamientos tradicionales
Tiempo de recuperación del paciente	Reducido en un 47% con tecnologías regenerativas

Organogénesis Holdings Inc. (Orgo) - Modelo de negocio: relaciones con los clientes

Compromiso directo de la fuerza de ventas

A partir del cuarto trimestre de 2023, la organogénesis mantiene una fuerza de ventas directa de 129 representantes profesionales de ventas dirigidos al cuidado de heridas y mercados quirúrgicos.

Métrica del equipo de ventas	2023 datos
Representantes de ventas totales	129
Cobertura de territorio promedio	8-12 Instalaciones de atención médica por representante
Horas de capacitación anual de ventas	192 horas por representante

Capacitación y apoyo profesional médico

La organogénesis proporciona programas integrales de capacitación profesional médico centrados en tecnologías de medicina regenerativa.

• Sesiones anuales de educación médica: 42 talleres a nivel nacional
• Créditos de Educación Médica Continua (CME) ofrecidos: 12-15 por capacitación
• Módulos de capacitación en línea: 24 plataformas de aprendizaje digital

Consulta clínica en curso

La compañía ofrece apoyo clínico dedicado a través de equipos de consulta especializados.

Servicio de consulta	2023 métricas
Personal de apoyo clínico	37 consultores especializados
Tiempo de respuesta promedio	24 horas
Canales de consulta	Teléfono, correo electrónico, videoconferencia

Soporte de productos técnicos

La organogénesis proporciona soporte técnico integral para sus productos de medicina regenerativa.

• Tamaño del equipo de soporte técnico: 22 especialistas
• Disponibilidad técnica de la línea de ayuda 24/7
• Tiempo de respuesta de resolución de problemas de productos: menos de 4 horas

Plataformas de interacción con el cliente digital

La compañía aprovecha las plataformas digitales para una mayor participación del cliente.

Plataforma digital	2023 Estadísticas de uso
Usuarios del portal de clientes	3.742 profesionales de la salud registrados
Visitantes mensuales del sitio web	52,600
Descargas de aplicaciones móviles	1,876

Organogénesis Holdings Inc. (Orgo) - Modelo de negocio: canales

Representantes de ventas médicas directas

A partir del cuarto trimestre de 2023, la organogénesis mantiene una fuerza de ventas directa de 185 representantes de ventas médicas dirigidas a la atención de heridas y los mercados quirúrgicos.

Tipo de canal de ventas	Número de representantes	Segmento del mercado objetivo
Ventas médicas directas	185	Cuidado de heridas, mercados quirúrgicos

Exposiciones de la Conferencia de Salud

En 2023, la organogénesis participó en 22 conferencias médicas principales, con una inversión estimada de $ 1.2 millones en gastos de exhibición y redes.

Tipo de conferencia	Número de conferencias	Inversión total en exhibición
Conferencias médicas	22	$1,200,000

Plataformas de productos médicos en línea

La compañía mantiene una plataforma de comercio electrónico con aproximadamente 3.500 cuentas profesionales de salud registradas a diciembre de 2023.

• Plataforma digital lanzada en 2019
• 3.500 cuentas profesionales de atención médica registradas
• Catálogo de productos en línea con 47 productos de medicina regenerativa

Redes de distribuidores médicos

La organogénesis trabaja con 87 distribuidores médicos en los Estados Unidos, que cubren aproximadamente el 75% de las instituciones de salud.

Métricas de red de distribuidores	Cantidad
Distribuidores médicos totales	87
Cobertura de la institución de salud	75%

Mercadeo digital y canales de telemedicina

El presupuesto de marketing digital para 2023 fue de $ 3.4 millones, con campañas específicas que alcanzan más de 45,000 profesionales de la salud mensualmente.

• Presupuesto de marketing digital: $ 3,400,000
• Alcance digital mensual: 45,000 profesionales de la salud
• Plataforma de consulta de telemedicina lanzada en 2022

Organogénesis Holdings Inc. (Orgo) - Modelo de negocio: segmentos de clientes

Especialistas en cuidado de heridas

En 2023, la organogénesis informó atender aproximadamente 5.500 especialistas en cuidado de heridas en todo el país. El segmento de clientes genera aproximadamente $ 87.3 millones en ingresos anuales.

Categoría de especialidad	Número de especialistas	Gasto anual promedio
Especialistas avanzados de cuidado de heridas	3,200	$42,500
Expertos en gestión de heridas crónicas	2,300	$38,700

Cirujanos podiátricos

La organogénesis atiende a 4.200 cirujanos podiátricos, que representan un segmento de mercado de $ 63.5 millones en 2023.

• Especialistas en la úlcera del pie diabético: 2.700 practicantes
• Expertos de reconstrucción de heridas quirúrgicas: 1.500 profesionales

Profesionales ortopédicos

El segmento profesional ortopédico incluye 3.800 profesionales, que generan $ 72.6 millones en ingresos para 2023.

Subespecialidad ortopédica	Conteo de practicantes	Contribución anual de ingresos
Cirujanos ortopédicos	2,500	$ 48.3 millones
Especialistas en medicina deportiva	1,300	$ 24.3 millones

Hospitales y centros médicos

La organogénesis atiende a 1,200 hospitales y centros médicos, con un valor de segmento de mercado total de $ 156.4 millones en 2023.

• Grandes centros médicos académicos: 350 instituciones
• Sistemas de salud regionales: 550 instituciones
• Hospitales comunitarios: 300 instituciones

Clínicas de tratamiento de heridas especializadas

La compañía apoya 980 clínicas de tratamiento de heridas especializadas, generando $ 45.2 millones en ingresos anuales para 2023.

Tipo clínico	Número de clínicas	Ingresos anuales promedio
Clínicas integrales de cuidado de heridas	620	$ 29.7 millones
Centros de curación de heridas especializadas	360	$ 15.5 millones

Organogénesis Holdings Inc. (Orgo) - Modelo de negocio: Estructura de costos

Inversiones de investigación y desarrollo

Para el año fiscal 2022, la organogénesis reportó gastos de I + D de $ 33.8 millones, lo que representa el 8.1% de los ingresos totales.

Año fiscal	Gastos de I + D	Porcentaje de ingresos
2022	$ 33.8 millones	8.1%
2021	$ 28.5 millones	7.5%

Gastos de fabricación y producción

Los costos totales de fabricación para 2022 fueron de $ 148.6 millones, con un desglose clave de la siguiente manera:

• Costos de material directo: $ 62.3 millones
• Costos laborales directos: $ 41.2 millones
• Sobrecoss de fabricación: $ 45.1 millones

Gastos de ventas y marketing

Los gastos de ventas y marketing para organogénesis en 2022 totalizaron $ 86.4 millones, lo que representaba el 20.7% de los ingresos totales.

Costos de ensayo clínico y cumplimiento regulatorio

Los gastos anuales de ensayos regulatorios y clínicos para 2022 fueron de aproximadamente $ 22.5 millones.

Categoría de gastos	Costo
Ensayos clínicos	$ 15.3 millones
Cumplimiento regulatorio	$ 7.2 millones

Mantenimiento de la propiedad intelectual

Los costos de mantenimiento de la propiedad intelectual para 2022 fueron de $ 3.6 millones, que cubren la presentación de patentes, la renovación y los gastos de protección.

Costos operativos totales para 2022: $ 294.9 millones

Organogénesis Holdings Inc. (ORGO) - Modelo de negocios: flujos de ingresos

Venta de productos avanzados de cuidado de heridas

Para el año fiscal 2023, la organogénesis informó que las ventas avanzadas de productos de cuidado de heridas de $ 241.3 millones. Los principales productos de cuidado de heridas de la compañía incluyen Apligraf y Puraply Product Lines.

Línea de productos	Ingresos (2023)	Segmento de mercado
Apligraf	$ 127.6 millones	Cuidado de heridas crónicas
Pura	$ 113.7 millones	Curación de heridas avanzadas

Licencias de tecnología de medicina regenerativa

Los ingresos por licencias para 2023 totalizaron $ 18.2 millones, derivados de los acuerdos de transferencia de propiedad intelectual y tecnología.

• Acuerdos de asociación biotecnología
• Licencias de tecnología de medicina regenerativa
• Derechos exclusivos a las tecnologías celulares patentadas

Ofertas quirúrgicas de productos biomateriales

Las ventas quirúrgicas de productos biomateriales alcanzaron $ 92.5 millones en 2023, con líneas de productos clave que incluyen injertos quirúrgicos y matrices de tejido regenerativo.

Categoría biomaterial quirúrgica	Ingresos (2023)	Aplicación principal
Injertos quirúrgicos	$ 48.3 millones	Reconstrucción quirúrgica
Matrices de tejido regenerativo	$ 44.2 millones	Reparación de heridas

Comercialización de dispositivos médicos

La comercialización de dispositivos médicos generó $ 35.7 millones en ingresos durante 2023, centrándose en el cuidado avanzado de heridas y las tecnologías de medicina regenerativa.

Acuerdos de colaboración de investigación

Los acuerdos de colaboración de investigación contribuyeron con $ 12.6 millones al flujo de ingresos de la Compañía en 2023, involucrando asociaciones con instituciones de investigación académica y médica.

Tipo de colaboración	Ingresos (2023)	Enfoque de investigación
Asociaciones académicas	$ 7.4 millones	Medicina regenerativa
Colaboraciones de investigación médica	$ 5.2 millones	Curación de heridas avanzadas

Organogenesis Holdings Inc. (ORGO) - Canvas Business Model: Value Propositions

Organogenesis Holdings Inc.'s value propositions center on delivering clinically superior, evidence-based regenerative medicine solutions across two primary markets, supported by strong financial performance metrics.

Clinically differentiated, PMA-regulated advanced wound care forms a core pillar, leveraging products with established regulatory standing and clinical proof. The company's flagship product, Apligraf®, is noted as the world's first FDA-approved living cell therapy. Furthermore, management highlighted that CMS has recognized the clinical differentiation of PMA products, which is a key strategic advantage heading into 2026 payment reforms.

The portfolio directly addresses solutions for chronic wounds like Diabetic Foot Ulcers (DFUs). Key products like Apligraf® and Dermagraft® are specifically approved for the treatment of DFUs. The Advanced Wound Care segment delivered net product revenue of $141.5 million in the third quarter of 2025.

A significant growth driver is the potential non-surgical treatment for knee osteoarthritis (ReNu). While the second Phase III trial did not meet its primary endpoint for statistical significance in pain reduction at six months, it demonstrated a numerical improvement of -6.9 in baseline pain reduction compared to the first study's -6.0. Critically, the ReNu results continued to show a favorable safety profile and achieved statistically significant maintenance of function (p<0.0001). Organogenesis Holdings Inc. plans to request a pre-BLA meeting with the FDA to discuss the submission pathway.

The value proposition is underpinned by high gross margin products, guided to 74%-76% for FY 2025. The third quarter of 2025 saw the company achieve a gross profit margin of 76% of net product revenue. This high margin supports profitability, as evidenced by the Q3 2025 Operating Income of $20.7 million.

Here's a quick look at how these value drivers translate into recent performance and guidance:

Value Proposition Component	Key Metric/Data Point	Latest Real-Life Number (as of late 2025)
Financial Performance	FY 2025 Gross Margin Guidance	74%-76%
Financial Performance	Q3 2025 Gross Margin	76%
Wound Care Differentiation	Advanced Wound Care Q3 2025 Revenue	$141.5 million
ReNu Potential (OA)	Second Phase III Baseline Pain Reduction (6 Months)	-6.9 (Numerical Improvement)
ReNu Potential (OA)	Secondary Endpoint Result	Statistically Significant Maintenance of Function (p<0.0001)

The clinical differentiation is supported by the specific nature of the Advanced Wound Care portfolio:

• Apligraf®: Bioengineered skin substitute with living cells.
• Dermagraft®: FDA-approved for DFUs.
• Affinity® and Novachor®: Human placental allografts preserved in a fresh state.
• PuraPly AM and PuraPly XT: Native ECM scaffold with broad-spectrum PHMB antimicrobial.

The potential for ReNu is tied to addressing a large patient population, as knee OA is estimated to affect more than 30 million Americans. The company is pursuing a regulatory pathway using combined efficacy analysis from three randomized controlled trials encompassing over 1,300 patients.

Organogenesis Holdings Inc. (ORGO) - Canvas Business Model: Customer Relationships

You're looking at how Organogenesis Holdings Inc. (ORGO) keeps its customers-the wound care centers, surgeons, and hospitals-locked in. It's not just about shipping product; it's about deep clinical partnership. The company explicitly states its strategy is built upon maintaining and building upon its deep customer relationships.

The relationship model is inherently high-touch, direct sales force engagement and education. This is necessary because you're dealing with advanced regenerative medicine products, not simple consumables. The commercial team's strong execution helped drive record revenue performance in Q3 2025. This suggests the field force is successfully educating providers on the value proposition, which is critical for adoption.

This focus translates directly into deep relationships with wound care specialists and physicians. The biggest recent event shaping this relationship is the Centers for Medicare & Medicaid Services (CMS) action. On November 3, 2025, Organogenesis Holdings Inc. applauded CMS for taking a significant step in payment reform for skin substitutes under the CY 2026 Physician Fee Schedule. The CEO noted that CMS finalized FDA classifications and a per centimeter square payment methodology in both physician office and hospital outpatient settings. You see, this policy change is what the company believes will increase access to its PMA (Premarket Approval) products while also leading to higher payment. That's a direct win for the physicians who use the products, solidifying the relationship based on improved economics and access.

Here's the quick math on the revenue success these relationships are supporting for the fiscal year ending December 31, 2025:

Metric	Q3 2025 Actual	FY 2025 Guidance Range
Total Net Product Revenue	$150.5 million	$500 million to $525 million
Advanced Wound Care Net Revenue	$141.5 million (up 31% YoY)	$470 million to $490 million
Surgical & Sports Medicine Net Revenue	$9.0 million (up 25% YoY)	$30 million to $35 million

When you look at investor relations and transparent financial communication, Organogenesis Holdings Inc. keeps a steady drumbeat for the financial community. They held their Third Quarter of Fiscal Year 2025 Earnings Conference Call on November 6, 2025, following the November 6 press release. They are defintely proactive in communicating major regulatory shifts, like the CMS announcement, to investors and analysts, framing it as a positive catalyst for 2026 and beyond. The company also provided detailed financial guidance updates, showing how they expect the business to perform for the full year 2025.

The CMS development ties directly into the need for dedicated reimbursement support for complex billing. Higher payment and expanded access for PMA products mean the support team must be experts in navigating the new fee schedule. You can expect the support function to be heavily focused on ensuring providers can correctly bill under the new methodology to capture the full value of the product. This support helps de-risk the adoption process for a physician's practice manager. The company's ability to manage this complexity is key to converting clinical acceptance into consistent revenue streams. The strategy involves making sure the clinical differentiation recognized by CMS translates into smooth, profitable utilization for the end-user.

You should monitor the following aspects of their customer engagement moving into 2026:

• Sales force deployment against high-potential centers.
• Speed of provider onboarding to the new CMS payment structure.
• Feedback from specialists on the effectiveness of reimbursement assistance.
• Conversion rates for new product adoption post-guidance update.

Finance: draft 13-week cash view by Friday.

Organogenesis Holdings Inc. (ORGO) - Canvas Business Model: Channels

You're looking at how Organogenesis Holdings Inc. gets its regenerative medicine products, like Apligraf and PuraPly AM, into the hands of the clinicians who need them as of late 2025. The strategy leans heavily on internal muscle, supported by institutional access points.

Direct sales force to hospitals and wound care centers

Organogenesis Holdings Inc. relies on a 'highly trained and specialized direct wound care sales force' to drive product adoption across its core markets. You should know that sales generated by this direct sales force in the United States have represented, and are anticipated to continue to represent, a majority of their revenues. This internal team is the primary engine for both Advanced Wound Care and Surgical & Sports Medicine product lines. As of September 30, 2025, the company had a total of 939 employees worldwide, a significant portion of whom support this direct commercial effort.

Group Purchasing Organizations (GPOs) for institutional contracts

While specific revenue attributed solely to GPO contracts isn't broken out, these organizations are critical for securing broad access within the hospital and institutional setting, which is where the direct sales force focuses its efforts. The company's ability to navigate the evolving reimbursement landscape, especially with the finalization of the CMS Medicare physician fee schedule for 2026, is tied to these institutional relationships. The company's total net product revenue for the third quarter of 2025 was $150.5 million, with the majority coming from Advanced Wound Care products.

Outpatient settings and physician offices

The direct sales force also targets physician offices, which are key for the outpatient treatment of chronic wounds. The company's strategy emphasizes generating clinical data, such as the planned RCTs for NuShield in Q3 FY25, to enhance sales efforts with physicians and improve reimbursement dynamics with payers in these settings. The company's full-year 2025 net revenue guidance is projected to be between $500.0 million and $525.0 million.

Surgical and sports medicine distribution network

The Surgical & Sports Medicine (SSM) segment utilizes a distribution network alongside the direct sales force. This segment showed strong momentum, with Q3 2025 sales increasing 25% year-over-year to $9.0 million. The full-year 2025 guidance for SSM revenue is set between $30.0 million and $35.0 million, reflecting the expected contribution from this channel.

Here's a quick look at the financial targets that these channels are driving for the full year 2025:

Revenue Segment	Full Year 2025 Guidance (Low End)	Full Year 2025 Guidance (High End)	Q3 2025 Actual Revenue
Total Net Product Revenue	$500.0 million	$525.0 million	$150.5 million
Advanced Wound Care (AWC)	$470.0 million	$490.0 million	$141.5 million
Surgical & Sports Medicine (SSM)	$30.0 million	$35.0 million	$9.0 million

The company's cash position as of September 30, 2025, stood at $64.4 million, with no outstanding debt obligations at that time, though they amended their credit agreement to provide access to up to $75 million of future borrowings.

You'll want to track the execution of the sales force against the updated guidance, especially as the CMS policy shift for 2026 is expected to create a 'watershed moment' for PMA products like Apligraf and Dermagraft, potentially leveling the field against higher-ASP competitors.

Finance: draft 13-week cash view by Friday.

Organogenesis Holdings Inc. (ORGO) - Canvas Business Model: Customer Segments

You're looking at where Organogenesis Holdings Inc. actually gets its money, which tells you exactly who they are selling to as of late 2025. The customer base is clearly split between two main product lines, which map directly to the clinical specialties they target.

The Advanced Wound Care (AWC) segment is the overwhelming focus. For the third quarter ended September 30, 2025, AWC products generated net product revenue of $141.5 million. This revenue stream is what pays for the operations, and it's driven by adoption from Advanced Wound Care specialists and clinics, as well as the larger hospital and outpatient wound care facilities where complex wounds are treated.

The company's full-year 2025 guidance reinforces this focus. Organogenesis Holdings Inc. projects total net product revenue between $500.0 million and $525.0 million for the year. Of that, the AWC segment is expected to contribute between $470.0 million and $490.0 million. That means AWC products account for roughly 90% or more of the total expected revenue.

The second group, served by the Surgical & Sports Medicine (SSM) products, is smaller but still important. For Q3 2025, SSM products brought in $9.0 million in net product revenue. This group directly involves Orthopedic and sports medicine physicians who use these regenerative technologies in their procedures.

Here's the quick math on the Q3 2025 revenue breakdown:

Customer-Mapped Segment	Product Line	Q3 2025 Net Product Revenue	Year-Over-Year Growth (Q3 2025 vs Q3 2024)
Advanced Wound Care specialists and clinics / Hospitals and outpatient wound care facilities	Advanced Wound Care (AWC)	$141.5 million	31%
Orthopedic and sports medicine physicians	Surgical & Sports Medicine (SSM)	$9.0 million	25%
Total	Total Net Product Revenue	$150.5 million	31%

Regarding US government payers, the direct financial impact isn't broken out as a revenue line, but the reliance is clear from management commentary. You see the company is actively navigating the reimbursement landscape, mentioning the recently announced CMS payment rule and expressing confidence in market access advantages for 2026. For Q3 2025, Organogenesis Holdings Inc. recorded $0.4 million in grant income related to a government grant received in 2025, which is a minor, one-time financial event compared to the core product sales.

The customer base is characterized by high-value, specialized medical providers, but their ability to use the products is tied to payer coverage. You should note the following key customer-related factors:

• Advanced Wound Care net product revenue for the full year 2025 is guided to be between $470.0 million and $490.0 million.
• Surgical & Sports Medicine net product revenue for the full year 2025 is guided to be between $30.0 million and $35.0 million.
• The company's total cash, cash equivalents, and restricted cash stood at $64.4 million as of September 30, 2025.
• Management noted concerns over competitor pricing and the potential for loss of coverage for over 200 products, which directly impacts the willingness of these customer segments to purchase.

Finance: draft 13-week cash view by Friday.

Organogenesis Holdings Inc. (ORGO) - Canvas Business Model: Cost Structure

You're looking at the expense side of Organogenesis Holdings Inc.'s (ORGO) business as of late 2025, and it's clear that scaling commercial operations and maintaining a pipeline are the primary cost drivers. The cost structure is heavily weighted toward getting products to market and supporting the science behind them.

High Selling, General, and Administrative (SG&A) expenses

SG&A represents a substantial portion of the operating spend, reflecting the commercial infrastructure needed to support the Advanced Wound Care and Surgical & Sports Medicine segments. For the first quarter of 2025, SG&A expenses were reported at $72.5 million, a slight increase from $72.3 million in the first quarter of 2024. This category covers sales force costs, marketing, and general corporate overhead. To be fair, the company saw strong revenue growth in Q3 2025, which should improve operating leverage, but the absolute dollar spend remains high.

The overall operating expenses, excluding the Cost of Goods Sold, for the third quarter of 2025 were $130.1 million, marking a 19% increase year-over-year. The non-GAAP operating expenses for that same quarter were $93.9 million, which was up 14% compared to the prior year.

Cost of Goods Sold (COGS) for biologic manufacturing

The cost associated with producing the biologic materials, which is the COGS, directly impacts the gross margin. Organogenesis Holdings Inc. maintained a strong gross margin in the third quarter of 2025 at 76% of net product revenue, though this was modestly down from 77% in the third quarter of 2024, primarily due to product mix shifts. For the third quarter of 2025, the gross profit was $114.2 million on net product revenue of $150.5 million. This implies a COGS of approximately $36.3 million for the quarter.

Here's a quick look at the Q3 2025 margin components:

Metric	Amount (Q3 2025)	Percentage of Revenue
Net Product Revenue	$150.5 million	100%
Gross Profit	$114.2 million	76%
Cost of Goods Sold (COGS)	$36.3 million	24%

Significant R&D investment

Investment in Research and Development is necessary to support the pipeline, including the ReNu program. For the first quarter of 2025, R&D expense was $10.6 million, a decrease of 17% from $12.8 million in the first quarter of 2024. While the prompt suggested a specific 9-month figure, the concrete data available shows the following for Q1 2025:

• R&D Expense (Q1 2025): $10.6 million
• R&D Expense (Q1 2024): $12.8 million
• Year-over-year change (Q1): A decrease of $2.2 million

Regulatory compliance and legal costs

Costs related to regulatory filings and potential legal matters are a distinct, often lumpy, part of the expense structure for a company with PMA (Premarket Approval) products. These costs can hit operating expenses hard in specific periods. For the first nine months of 2025, the company recorded specific non-recurring items that fall into this bucket:

• Impairment and Write-down Expenses (9M 2025): $9.2 million
• Nonrecurring FDA payment related to renewed BLA filing (9M 2025 context): $4.6 million
• Asset and Restructuring Write-down (9M 2025 context): $9.8 million

The operating loss for the first nine months of 2025 was $18.6 million, compared to an operating loss of $11.5 million for the same period in 2024. Finance: draft 13-week cash view by Friday.

Organogenesis Holdings Inc. (ORGO) - Canvas Business Model: Revenue Streams

You're looking at the core engine of Organogenesis Holdings Inc.'s value generation, which, as of late 2025, is almost entirely product-based. The company's revenue streams are highly concentrated in their two main segments, reflecting where their regenerative medicine technology finds its primary commercial application. Honestly, the near-term financial picture is all about hitting those reaffirmed full-year targets.

The company updated its full-year 2025 guidance following a strong third quarter, showing confidence in the latter half of the year. This guidance is the clearest snapshot you have for the full-year revenue expectation.

Here's the quick math on the forward-looking guidance for the entire fiscal year 2025:

Revenue Stream Category	FY 2025 Guidance Range (Millions USD)	Implied YoY Growth (from 2024)
Advanced Wound Care (AWC)	$470.0 million - $490.0 million	4% to 8%
Surgical & Sports Medicine (SSM)	$30.0 million - $35.0 million	6% to 23%
Total Net Product Revenue	$500.0 million - $525.0 million	4% to 9%

The Advanced Wound Care segment is definitely the lion's share of the business. For instance, Q3 2025 saw this segment bring in $141.5 million, which was a substantial 31% increase year-over-year, propelling the company to raise its full-year outlook. That's where the real volume is, so any shift in reimbursement or market access there has a huge impact on the top line.

The Surgical & Sports Medicine business, while smaller, shows strong percentage growth potential. It contributed $9.0 million in the third quarter of 2025, marking a 25% jump from the prior year's third quarter. You need to watch this segment for diversification, even if its contribution to the total is currently modest.

When you look at the actual performance through the first nine months of 2025, the picture is mixed, showing the early-year headwinds you've heard about. Net product revenue for the nine months ended September 30, 2025, was $338.0 million, a 5% decrease versus the same period in 2024. Still, the third quarter rebound suggests a strong trajectory heading into the final quarter.

Grant income from government sources is not a primary driver of the business model, though it does appear in the financials sporadically. For example, the company recorded $0.4 million in grant income during the third quarter of 2025 related to a government grant received that year. This is generally considered immaterial to the overall revenue picture, but it's good to note that non-product revenue exists.

To give you a clearer view of the recent quarter's performance versus the full-year targets, consider this breakdown:

• Q3 2025 Net Product Revenue: $150.5 million.
• Q3 2025 Gross Profit Margin: 76% of net product revenue.
• Cash position as of September 30, 2025: $64.4 million in cash, cash equivalents, and restricted cash, with no outstanding debt obligations.
• The company has access to up to $75 million of future borrowings via an amended credit agreement.

Finance: draft 13-week cash view by Friday.