ORGO - Why Organogenesis Holdings Stock Blasted 21% Higher Today
Wednesday wasn't a particularly tough Hump Day to surmount for regenerative medicine specialist Organogenesis Holdings (NASDAQ: ORGO) . The company's stock soared by over 21% thanks to a rather encouraging quarterly-earnings report delivered after market hours on Tuesday.
For its fourth quarter of 2021, Organogenesis posted net revenue of $128.6 million, which was 20% higher on a year-over-year basis. On the bottom line, the company managed to nearly triple its generally accepted accounting principles ( GAAP) net income. This came in at $51.7 million ($0.39 per diluted share) from Q4 2020's net profit of $18.3 million.
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Why Organogenesis Holdings Stock Blasted 21% Higher Today