2020 Q4 Form 10-K Financial Statement

#000119312521082849 Filed on March 16, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2020 2019 Q4
Revenue $106.8M $338.3M $74.60M
YoY Change 43.16% 29.63% 17.3%
Cost Of Revenue $25.50M $87.32M $20.40M
YoY Change 25.0% 14.97% 16.5%
Gross Profit $81.30M $251.0M $54.30M
YoY Change 49.72% 35.64% 17.82%
Gross Profit Margin 76.12% 74.19% 72.79%
Selling, General & Admin $53.20M $203.5M $52.40M
YoY Change 1.53% 1.9% 10.37%
% of Gross Profit 65.44% 81.07% 96.5%
Research & Development $6.300M $20.09M $3.600M
YoY Change 75.0% 35.73% 16.47%
% of Gross Profit 7.75% 8.0% 6.63%
Depreciation & Amortization $2.200M $3.723M $2.350M
YoY Change -6.38% 9.89% -66.33%
% of Gross Profit 2.71% 1.48% 4.33%
Operating Expenses $59.50M $223.6M $56.00M
YoY Change 6.25% 4.23% 10.74%
Operating Profit $21.80M $27.42M -$1.700M
YoY Change -1382.35% -193.06% -62.05%
Interest Expense -$2.900M $11.28M -$2.600M
YoY Change 11.54% 25.38% -197.63%
% of Operating Profit -13.3% 41.14%
Other Income/Expense, Net $0.00 -$8.936M $0.00
YoY Change -17.6% -100.0%
Pretax Income $18.90M $18.48M -$4.400M
YoY Change -529.55% -145.85% -52.45%
Income Tax $400.0K $530.0K $0.00
% Of Pretax Income 2.12% 2.87%
Net Earnings $18.50M $17.95M -$4.400M
YoY Change -520.45% -144.37% -52.46%
Net Earnings / Revenue 17.32% 5.31% -5.9%
Basic Earnings Per Share $0.17
Diluted Earnings Per Share $141.0K $0.16 -$44.99K
COMMON SHARES
Basic Shares Outstanding 107.8M 107.7M 94.74M
Diluted Shares Outstanding 111.4M

Balance Sheet

Concept 2020 Q4 2020 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $84.40M $84.40M $60.20M
YoY Change 40.2% 40.2% 182.63%
Cash & Equivalents $84.81M $60.37M
Short-Term Investments
Other Short-Term Assets $5.300M $5.300M $3.200M
YoY Change 65.63% 65.63% 33.33%
Inventory $27.80M $27.80M $22.92M
Prepaid Expenses $4.935M $2.953M
Receivables $56.80M $56.80M $39.36M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $174.3M $174.3M $125.6M
YoY Change 38.81% 38.77% 76.58%
LONG-TERM ASSETS
Property, Plant & Equipment $60.07M $60.10M $47.18M
YoY Change 27.31% 27.33% 19.08%
Goodwill $28.77M $25.54M
YoY Change 12.66% 0.0%
Intangibles $30.62M $20.80M
YoY Change 47.24% -20.29%
Long-Term Investments
YoY Change
Other Assets $670.0K $700.0K $884.0K
YoY Change -24.21% -30.0% 52.68%
Total Long-Term Assets $120.2M $120.2M $95.09M
YoY Change 26.36% 26.39% 2.74%
TOTAL ASSETS
Total Short-Term Assets $174.3M $174.3M $125.6M
Total Long-Term Assets $120.2M $120.2M $95.09M
Total Assets $294.5M $294.5M $220.7M
YoY Change 33.44% 33.44% 34.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $23.38M $23.40M $28.39M
YoY Change -17.63% -17.61% 48.12%
Accrued Expenses $23.97M $24.00M $23.45M
YoY Change 2.23% 2.13% 15.02%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $20.30M $20.30M $3.100M
YoY Change 554.84% 554.84% -58.67%
Total Short-Term Liabilities $68.22M $68.20M $59.89M
YoY Change 13.9% 13.86% 6.77%
LONG-TERM LIABILITIES
Long-Term Debt $64.50M $64.50M $49.63M
YoY Change 29.95% -33.85% 0.88%
Other Long-Term Liabilities $7.971M $15.70M $6.649M
YoY Change 19.88% 103.9% 12.11%
Total Long-Term Liabilities $7.971M $80.20M $56.28M
YoY Change -85.84% -23.76% 848.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $68.22M $68.20M $59.89M
Total Long-Term Liabilities $7.971M $80.20M $56.28M
Total Liabilities $148.4M $148.4M $165.1M
YoY Change -10.11% -10.12% 41.55%
SHAREHOLDERS EQUITY
Retained Earnings -$150.8M -$171.0M
YoY Change -11.84% 31.3%
Common Stock $296.8M $226.6M
YoY Change 31.0% 27.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares $728.5K
Shareholders Equity $146.1M $146.1M $55.58M
YoY Change
Total Liabilities & Shareholders Equity $294.5M $294.5M $220.7M
YoY Change 33.44% 33.44% 34.83%

Cashflow Statement

Concept 2020 Q4 2020 2019 Q4
OPERATING ACTIVITIES
Net Income $18.50M $17.95M -$4.400M
YoY Change -520.45% -144.37% -52.46%
Depreciation, Depletion And Amortization $2.200M $3.723M $2.350M
YoY Change -6.38% 9.89% -66.33%
Cash From Operating Activities $26.28M $6.801M -$6.400M
YoY Change -510.62% -120.28% -89.34%
INVESTING ACTIVITIES
Capital Expenditures -$8.890M $21.15M -$3.450M
YoY Change 157.68% 253.36% 85.48%
Acquisitions
YoY Change
Other Investing Activities $400.0K -$3.690M $0.00
YoY Change
Cash From Investing Activities -$8.480M -$24.83M -$3.450M
YoY Change 145.8% 298.35% 85.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $64.73M $50.34M
YoY Change 28.58%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 30.12M 42.47M 47.07M
YoY Change -36.01% -46.06% -41.92%
NET CHANGE
Cash From Operating Activities 26.28M 6.801M -6.400M
Cash From Investing Activities -8.480M -24.83M -3.450M
Cash From Financing Activities 30.12M 42.47M 47.07M
Net Change In Cash 47.92M 24.44M 37.22M
YoY Change 28.75% -37.29% 94.26%
FREE CASH FLOW
Cash From Operating Activities $26.28M $6.801M -$6.400M
Capital Expenditures -$8.890M $21.15M -$3.450M
Free Cash Flow $35.17M -$14.34M -$2.950M
YoY Change -1292.2% -63.7% -94.93%

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<div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Use of Estimates </div></div></div></div> <div style="text-indent: 4%; font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported results of operations during the reporting periods. Actual results and outcomes may differ significantly from those estimates and assumptions. </div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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CY2020 orgo Summaryofestimatedusefullivesofpropertyplantandequipmenttabletextblock
Summaryofestimatedusefullivesofpropertyplantandequipmenttabletextblock
Property and equipment estimated useful lives are as follows:<table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></div> <table border="0" cellpadding="0" cellspacing="0" style="font-family: &quot;times new roman&quot;; font-size: 10pt; border-spacing: 0px;;margin : 0px auto;;text-align:left;;width:68%;"><tr style="font-size: 0px;"><td style="width: 52%;"></td><td style="width: 3%;;vertical-align:bottom;"></td><td style="width: 46%;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="background-color: rgb(204, 238, 255); width: 52%;;vertical-align:top;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">Leasehold improvements</div></td><td style="background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">&#160;&#160;</div></td><td style="white-space: nowrap; background-color: rgb(204, 238, 255); width: 46%;;text-align:right;;vertical-align:top;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">Lesser of the life of the lease or the economic life of the asset</div></td></tr><tr style="font-size: 0px;"><td style="width: 52%; background-color: rgba(255, 255, 255, 0);"></td><td style="width: 3%; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"></td><td style="background-color: rgba(255, 255, 255, 0); width: 46%;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="background-color: rgba(255, 255, 255, 0); width: 52%;;vertical-align:top;"><div style="text-indent: -1em; font-family: &quot;times new roman&quot;; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Furniture and computers</div></div></td><td style="background-color: rgba(255, 255, 255, 0); width: 3%;;vertical-align:bottom;">&#160;&#160;</td><td style="white-space: nowrap; background-color: rgba(255, 255, 255, 0); width: 46%;;text-align:right;;vertical-align:bottom;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">3&#160;-&#160;5&#160;years</div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="width: 52%; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: &quot;times new roman&quot;; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Equipmen<div style="letter-spacing: 0px; top: 0px;;display:inline;">t</div></div></div></td><td style="width: 3%; background-color: rgb(204, 238, 255);;vertical-align:bottom;">&#160;&#160;</td><td style="white-space: nowrap; background-color: rgb(204, 238, 255); width: 46%;;text-align:right;;vertical-align:bottom;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">5&#160;-&#160;10&#160;years</div></td></tr></table> <div style="clear: both; max-height: 0px;"></div> <div style="clear: both; max-height: 0px;"></div> <div style="clear: both; max-height: 0px;"></div> <div style="clear: both; max-height: 0px;"></div> <div style="clear: both; max-height: 0px;"></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2020 dei Icfr Auditor Attestation Flag
IcfrAuditorAttestationFlag
false
CY2020Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2020Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2020Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2019Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2019Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020 dei Entity Registrant Name
EntityRegistrantName
Organogenesis Holdings Inc.
CY2020 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31

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