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Organogenesis Holdings

ORGO
25
Drug Manufacturers - Specialty & Generic · Healthcare
Price
$1.80
-0.04 (-2.17%)
Market Cap
$231.6M
Exchange
NASDAQ
Winston Score
25
Winston is worried
Below-average fundamentals — multiple weak pillars.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Weak
Growth
Mixed
Cash Flow
Weak
Stability
Data not available
Valuation
Data not available

Share count falling — buybacks

2.6% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 133.7M (2021) → 130.2M (2025)

Winston Score History

The full picture

Organogenesis Holdings makes advanced wound care products — special skin substitutes and regenerative medicine treatments that help heal difficult wounds. Its main products include Apligraf and Dermagraft, which are bioengineered skin grafts used to treat chronic wounds like diabetic foot ulcers and venous leg ulcers. The company sells primarily to hospitals, wound care clinics, and physicians across the United States.

The company earns revenue by selling its wound care products directly to healthcare providers, with reimbursement from Medicare and private insurers playing a big role in how much it gets paid. Organogenesis operates almost entirely in the US market and generates roughly $500 million in annual revenue, giving it a meaningful presence in the advanced wound care space. Its high gross margin reflects the premium pricing of bioengineered products, but the company is not yet consistently profitable, and its biggest risk is reimbursement policy changes — if Medicare cuts coverage or payment rates for its products, revenue could fall sharply.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-56.6% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-700.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$45M/ year

Declining (-11% vs prior year)

7.9% of revenue

Below sector average (18%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

55.4%ownership

Flat

Insider ownership roughly steady over the past year

Cash Runway

~4 months

$46M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Organogenesis Holdings has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
45.9%
Healthy — 45.9% gross margin
Profit after running costs
Operating Margin
-116.5%
Losing money on operations — -116.5%
Return on the money invested
ROCE
-10.1%
Weak — -10.1% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
+6.3%
Slow sales growth (+6.3% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
5/8 quarters
Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
4.6%
Thin free cash flow (4.6%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
N/A
Data not available
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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