Organogenesis Holdings, Inc. (NASDAQ:ORGO) Q2 2023 Earnings Conference Call August 9, 2023 5:00 PM ET

Company Participants

Gary Gillheeney - President, CEO & Chair

David Francisco - CFO

Conference Call Participants

Ryan Zimmerman - BTIG

Andrew Ranieri - Morgan Stanley

Operator

Welcome, ladies and gentlemen, to the Second Quarter of Fiscal Year 2023 Earnings Conference Call for Organogenesis Holdings Inc. [Operator Instructions]. 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 today 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 1A, Risk Factors, of the company's most recent annual report and its subsequently filed quarterly reports.

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 contain financial measures that are not calculated in accordance with generally accepted accounting principles or GAAP.

We generally refer to those 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 in the Investor Relations portion of our website.

I would now like to turn the call over to Mr. Gary Gillheeney, Sr., organogenesis Holdings President and Chief Executive Officer. Sir, please go ahead.

Gary Gillheeney

Thank you, operator, and welcome, everyone, to Organogenesis Holdings Second Quarter of Fiscal Year 2023 Earnings Conference Call. I'm joined, on the call today by Dave Francisco, our Chief Financial Officer.

Let me start with a brief agenda of what we will cover during our prepared remarks. I'll begin with an overview of our second quarter revenue results, and an update on our key operating developments in recent months. Dave will then provide you with an in-depth review of our second quarter financial results, our balance sheet and financial condition at quarter end. I will then discuss our initial thoughts on the recent local coverage determinations, or LCDs, the related uncertainty regarding our 2023 revenue and profitability outlook and the steps we are taking to address the reclassification of our products that will be impacted if these LCDs remain unchanged and go effective in September. Then we will open up the call for your questions.