Organogenesis Holdings Inc (NASDAQ:ORGO) Q1 2019 Earnings Conference Call Transcript

May 10, 2019 • 08:00 am ET

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Organogenesis Holdings Inc (NASDAQ:ORGO) Q1 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good morning, ladies and gentlemen, and welcome to the First Quarter 2019 Earnings Conference Call for Organogenesis Holdings, Inc. At this time, all participants have been placed in a listen-only mode. Please note that this conference call is being recorded, and that the recording will be available on the Company's website for replay shortly.

Before we begin, I would like to remind everyone that our remarks may contain forward-looking statements that are based on the current expectations of management and involve inherent risks and uncertainties that could cause actual results to differ materially from those indicated, including the risks and uncertainties described in the Company's filings with the Securities and Exchange Commission, including Item A1, Risk Factors, of the Company's Form 10-K of the year ended December 31st 2018. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made.

Although it may voluntarily do so from time to time, the Company undertakes no commitment to update or revise the forward-looking statements whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.

This call will also include references to certain financial measures that are not calculated in accordance with generally accepted accounting principles or GAAP. We generally refer to these as non-GAAP financial measures. Reconciliations of those non-GAAP financial measures to the most comparable measures calculated and presented in accordance with GAAP are available in the earnings press release on the Investor Relations portion of our website.

I would now like to turn the call over to Mr. Gary Gillheeney, Organogenesis Holdings' Chief Executive Officer. Please go ahead, sir.

Executive
Gary Gillheeney

Thank you, Lauren, and welcome, everyone, to Organogenesis Holdings' first quarter 2019 earnings conference call. I'm joined today on the call by Tim Cunningham, our Chief Financial Officer. Let me start with a brief agenda of what we'll cover during the prepared remarks. I will start with a high-level overview of our revenue performance during the first quarter of 2019.

After my opening remarks, Tim will provide you with a more in-depth review of our quarterly financial results as well as an overview of our financial guidance for 2019, which we updated today in our earnings release. Following Tim's discussion of our financial results and outlook, I will then share some thoughts on why we believe we are well positioned for strong performance in 2019 and solid long-term growth going forward, and then we will open up the call for questions.

We were pleased with our operating and financial performance in the first quarter and believe we are off to a solid start in 2019. We reported total revenue growth of 61% year-over-year, driven by sales growth in our advanced wound care products of 64% and sales growth of our surgical and sports medicine products of 47% year-over-year.

Our revenue growth performance was a direct result of our powerful combination of strategic investments that we've made in expanding our commercial infrastructure in recent quarters and