Why Organogenesis Stock Is Tumbling Today

·2 min read

Shares of Organogenesis Holdings (NASDAQ: ORGO) fell by 19.6% as of 2:45 p.m. ET on Wednesday after the wound care company reported worse-than-anticipated Q2 earnings and also slashed its guidance for the rest of 2022. Its net revenue for the quarter was $121.4 million, a decline of 1% year over year, and its net income collapsed by 58% year over year to reach $8.7 million. For its fiscal 2022 earnings guidance, management now expects net revenue of between $465 million and $490 million, whereas in its initial guidance, it expected between $485 million and $515 million.