ORGO // Organogenesis Holdings Inc. (Class A)

DES <GO> NASDAQ RQD COCKPIT → CIK 0001661181 ↗

Health Care • Biotechnology: Pharmaceutical Preparations

$0.76 ▼ -0.01 (-1.64%)

MKT CAP: $98.8M • VOL: 2.28M

52W L $1 52W H $7

ALTMAN Z

2.09 GREY

PIOTROSKI

4 / 9

ORGO // ROARABLE RATING & 5-PILLAR RQD CONFIDENCE 02:00 EST DETERMINISTIC ENGINE

▼ DOWNGRADE // D (RQD 50) -> E (RQD 34) AS OF 2026-11-03

ROARABLE E

RQD CONFIDENCE

34 / 100 -16D

5 X 20-PT QUANT PILLARS

E 0 D 35 C 59 B 70 A 86+

Roarable Strong Sell — Forensic Risk / Avoid

01 MASSIVE / SEC XBRL

Forensic Fundamentals

8 / 20

WARNING

FCF -120% vs NI +0% • ROIC-WACC +8.5% • Z 2.09

02 INSTITUTIONAL TAPE & TREND

Whale & Options Flow

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

03 SEC XBRL CAPITAL ALLOCATION

Insider & Capital Conviction

[LOCKED] FLAGGED

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04 FRED 90D r-MATRIX

Macro Regime Fit

6 / 20

CRITICAL

HEADWIND • r(10Y)=-0.07 (+19bp) • r(OAS)=-0.13

05 10-K REDLINE AUDIT

Forensic 10-K Risk

9 / 20

WARNING

20 BASE - 11 DEDUCT • 0 CRIT / 0 MED • STABLE

ALERT

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SIG <GO> CROSS-FEED TRIANGULATION // PROPRIETARY ANOMALY ENGINE (1 ACTIVE ON ORGO)

STAGE 2 DETERMINISTIC Z-SCORE + STAGE 3 GEEK DESK BRIEF ALL MARKET ANOMALIES <SIG>

▼ BEARISH // MACRO TAILWIND SCORE (21/100)SIFTER 05 // TRUE NET LIQUIDITY BETA

SEVERITY: 94/100 Z-SCORE: +3.48σ

ORGO Macro Score Drops to 21/100 as Net Liquidity Contracts -0.64% to $5,746B

TRUE NET LIQUIDITY

$5,746B (-0.64% 4W)

NET LIQUIDITY ELASTICITY

3.34x BETA (r=+0.21)

MACRO TAILWIND SCORE

21 / 100

[GEEK DESK FORENSIC NOTE // FRED WALCL - TGA - RRP × 5Y BETA]

FRED Fed Assets (WALCL)US Treasury TGA (WTREGEN) + ON RRPICE BofA High-Yield OAS + 5Y Equity Beta

Macro tailwind conditions for Organogenesis Holdings deteriorated significantly to a 21 / 100 score as true net liquidity fell to $5,746B on a -0.64% 4-week rate of change. This liquidity contraction carries elevated downside risk due to the equity's high net liquidity elasticity of 3.34x beta with a +0.21 Pearson correlation. With credit spreads widening via a 34 bps 4-week delta in ICE BofA High-Yield OAS and a composite z-score of 3.48, institutional positioning faces severe liquidity headwinds.

ORGO // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -70.31%🛡️ HOLDING TREND SUPPORT

2026-11-03O $0.82H $0.82L $0.76C $0.76VOL 760.3K

RES: $2.53SUP: $0.69SMA50: $1.31SMA200: $2.34

ORGO // INSTITUTIONAL BULL VS. BEAR FORENSIC DEBATE

NEUTRAL / PAIR TRADE CONVICTION: 59/100

BEAR 0

100 BULL

Organogenesis Holdings Inc. (Class A) (ORGO) exhibits 45.0% gross margins and 17.1% return on invested capital within Health Care (Biotechnology: Pharmaceutical Preparations), balanced against a 24.0x enterprise multiple and 4.8% implied options volatility.

▲ INSTITUTIONAL BULL THESIS (LONG)

01. Operating Leverage & Capital Efficiency Moat

Sustained 45.0% gross profitability converts into 7.9% operating margin and 17.1% ROIC, outpacing sector cost of capital.

ROIC: 17.1% // GM: 45.0%

02. Top-Line Expansion & Cash Conversion

YoY revenue trajectory of +17.0% paired with -23.21% free cash flow yield supports self-funded R&D and capital return.

REV YOY: +17.0% // FCF YLD: -23.21%

03. Balance Sheet Solvency & Forensic Quality

Altman Z-Score of 2.09 and Piotroski F-Score of 4/9 indicate low near-term refinancing stress.

ALTMAN Z: 2.09 // F-SCORE: 4/9

▼ INSTITUTIONAL BEAR THESIS (SHORT / RISK)

01. Multiple Compression & Duration Sensitivity

Trading at 24.0x trailing P/E (— Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.

P/E: 24.0x // EV/EBITDA: —

02. Options Skew & Event Volatility Risk

Options market prices a ±5.2% implied move with a 0.85 put/call ratio around $0.76 max pain.

IMPL MOVE: ±5.2% // P/C: 0.85

03. Competitive Margin & CapEx Cycle Pressure

Elevated industry capital intensity and customer concentration in Biotechnology: Pharmaceutical Preparations require continuous execution to defend 6.6% net margins.

NET MARGIN: 6.6% // D/E: 0.45x

KEY CATALYST // Upcoming 10-Q/10-K XBRL margin progression, guidance revision vs — forward consensus, and institutional 13F positioning.

MACRO REGIME // Monitor US 10Y Real Yields (DFII10) and High-Yield Credit Spreads (OAS) for beta-adjusted multiple impact (Beta 1.10).

FORM 4 & 13F FLOW OPEN OWN <GO>

FILER	SIDE	$ VALUE
INSPECT FULL OWNERSHIP LEDGER IN OWN <GO>

UNUSUAL OPTIONS TAPE OPEN OPT <GO>

STRIKE / EXP	TYPE	PREMIUM
INSPECT GEX & CHAIN IN OPT <GO>

KEY VALUATION & PROFITABILITY RATIOS XBRL FA <GO>

TRAILING P/E —

FORWARD P/E —

EV / EBITDA —

FCF YIELD -23.21%

GROSS MARGIN —

OPERATING MARGIN 7.9%

NET MARGIN 6.6%

ROIC % 17.1%

REV GROWTH YOY +17.0%

DILUTED EPS TTM —

DEBT / EQUITY —

DIVIDEND YIELD 0.00%

RSI-14 MOMENTUM 20.2

5Y EQUITY BETA —

FRED MACRO SENSITIVITY (PEARSON r) ECST <GO>

MACRO CORRELATION CALIBRATION ACTIVE BELOW.

FRED MACRO REGIME STRESS-TEST SIMULATOR // ORGOPEARSON R VARIANCE ENGINE

01 // SELECT FEDERAL RESERVE & CREDIT SHOCK SCENARIO

02 // POSITION NOTIONAL EXPOSURE

HEADLINE STRESS SCORE

75/100SEVERE DRAWDOWN PRESSURE

PRIMARY FACTOR EXPOSURE

DFII10 // -0.61 r

Latest: 2.08%

EST. DIRECTIONAL MOVE

-8.50%

Implied Px: $0.70

EST. DOLLAR VARIANCE

-$4,248

On $50,000 Notional

[LOCKED // MULTI-FACTOR DRAWDOWN HEDGE & MACRO TRIGGER ALERT]

Unblur the exact $50,000 delta-adjusted ETF/options hedge ratio for ORGO & activate live FRED threshold breach alerts.

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