ORGOHIGH SIGNALFINANCIAL10-K

ORGO achieved a dramatic turnaround with net income swinging from $861K to $37M while operating cash flow deteriorated from positive $14.2M to negative $10.3M.

The massive profitability improvement (+4201% net income, +3584% operating income) suggests strong operational execution, but the concerning shift to negative operating cash flow raises quality of earnings questions. The removal of regulatory language around NuCel and ReNu product suspensions indicates resolution of previous FDA compliance issues, reducing regulatory overhang.

Comparing 2026-02-26 vs 2025-02-27View on EDGAR →
FINANCIAL ANALYSIS

ORGO delivered exceptional profit growth with net income jumping from $861K to $37M and operating income surging to $44.7M, but this was accompanied by troubling cash flow deterioration as operating cash flow turned negative at -$10.3M despite strong earnings. The company significantly expanded its asset base (+20.3% total assets) and nearly doubled accounts receivable (+97.9%), while cash declined 31% to $93.7M and liabilities increased 46.4%. This pattern of strong earnings growth paired with negative operating cash flow and rapid receivables growth suggests potential working capital management challenges or revenue recognition timing issues that warrant close investor scrutiny.

FINANCIAL STATEMENT CHANGES
Net Income
P&L
+4201%
$861K→$37.0M

Net income grew 4201% — bottom-line growth signals improving overall business health.

Operating Income
P&L
+3583.6%
-$1.3M→$44.7M

Operating leverage kicking in — revenue growth outpacing cost growth, a hallmark of scaling businesses.

Operating Cash Flow
Cash Flow
-172.6%
$14.2M→-$10.3M

Operating cash flow fell 172.6% — earnings quality concerns; investigate working capital changes and non-cash items.

Accounts Receivable
Balance Sheet
+97.9%
$109.9M→$217.5M

Receivables surged 97.9% — revenue recognized but not yet collected; watch for collection issues or channel stuffing.

Total Liabilities
Balance Sheet
+46.4%
$112.6M→$164.8M

Liabilities grew 46.4% — significant increase in debt or obligations, assess impact on financial flexibility.

Capital Expenditure
Cash Flow
+41.1%
$10.0M→$14.2M

Capital expenditure jumped 41.1% — major investment cycle underway; assess returns on deployment.

Cash & Equivalents
Balance Sheet
-30.9%
$135.6M→$93.7M

Cash declined 30.9% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Current Liabilities
Balance Sheet
+29.2%
$77.5M→$100.1M

Current liabilities rose 29.2% — increased short-term obligations, watch current ratio.

Current Assets
Balance Sheet
+26.7%
$285.9M→$362.2M

Current assets grew 26.7% — improving short-term liquidity or inventory/receivables build.

Total Assets
Balance Sheet
+20.3%
$497.9M→$598.7M

Asset base grew 20.3% — expansion through organic growth, acquisitions, or capital deployment.

LANGUAGE CHANGES
NEW — 2026-02-26
PRIOR — 2025-02-27
ADDED
Many existing and potential customers for our products are members of group purchasing organizations ( GPOs ) and/or integrated delivery networks ( IDNs ), including accountable care organizations or public-based purchasing organizations, and our business is partly dependent on major contracts with these organizations.
The outstanding shares of our Series A Convertible Preferred Stock, par value $0.0001 per share ( Convertible Preferred Stock ) reduce the relative voting power of holders of our Class A common stock, dilute the ownership of those holders, and may adversely affect the market price of our Class A common stock.
BUSINESS Overview Organogenesis is a leading regenerative medicine company focused on empowering healing through the development, manufacturing, and sale of products for the advanced wound care and surgical and sports medicine markets .
Our mission is advancing healing and recovery beyond expectations.
Several of our existing and pipeline products in our portfolio have Premarket Application ( PMA ) approval, or 510(k) clearance from the United States Food and Drug Administration ( FDA ).
+7 more — sign up free →
REMOVED
Many existing and potential customers for our products are members of group purchasing organizations (GPOs) and/or integrated delivery networks (IDNs), including accountable care organizations or public-based purchasing organizations, and our business is partly dependent on major contracts with these organizations.
The FDA may determine that our suspension of NuCel and ReNu commercialization on May 31, 2021 was not conducted in a timely or otherwise proper manner.
To the extent that our suspension of any of these products is determined not to comply with the 361 HCT/P Guidance, we may be subject to regulatory sanctions, which could adversely affect our business, results of operations, and financial condition.
The outstanding shares of our Series A Convertible Preferred Stock, par value $0.0001 (Convertible Preferred Stock) reduce the relative voting power of holders of our Class A common stock, dilute the ownership of those holders, and may adversely affect the market price of our Class A common stock.
BUSINESS Overview Organogenesis is a leading regenerative medicine and tissue innovations company focused on empowering healing through the development, manufacturing, and sale of products for the advanced wound care, and surgical and sports medicine markets.
+7 more — sign up free →
MORE FINANCIAL SIGNALS
PNRGHIGHPNRG achieved exceptional profitability improvement with net income surging 2,21...
2026-04-16
BNAIHIGHBNAI underwent a dramatic reverse stock split that reduced share count by 86% wh...
2026-04-16
LAKEHIGHLAKE's financial performance deteriorated significantly with operating losses wo...
2026-04-16
NXXTHIGHNextNRG experienced massive financial deterioration with operating losses explod...
2026-04-16
ANALYZE ANY FILING FREE

See what changed in your portfolio's filings

500+ US-listed companies analyzed. Language delta, financial analysis, instant signal scoring.

Try Tracenotes free →