Core Insights - MiMedx Group, Inc. and Vaporox, Inc. have announced a collaboration for co-promotion and co-marketing of their wound care products, with MiMedx making an investment in Vaporox and obtaining exclusivity rights for potential acquisition discussions [1][2][3] Company Overview - MiMedx is a leader in wound care, focusing on chronic and hard-to-heal wounds, with a vision to be the leading global provider of healing solutions through innovation [5] - Vaporox has developed the Vaporous Hyperoxia Therapy device, which combines ultrasonic mist and concentrated oxygen to treat chronic wounds, receiving FDA clearance for nine types of wounds [2][4] Strategic Goals - The collaboration aims to diversify MiMedx's portfolio and enhance treatment options for clinicians dealing with chronic wounds, leveraging Vaporox's technology alongside MiMedx's placental allografts [3] - Vaporox anticipates that the partnership with MiMedx will accelerate market penetration and create a synergistic offering to reach more patients [3] Clinical Efficacy - Vaporox's VHT has shown wound healing rates exceeding 80% at 20 weeks in clinical studies when used with standard wound care, indicating strong efficacy [3]

Group 1 - MiMedx Group, Inc. will report its operating and financial results for Q2 2025 on July 30, 2025, after market close [1] - A conference call and webcast will be held at 4:30 p.m. Eastern Time on the same day to discuss the results [1] - The company is a leader in providing healing solutions for chronic and hard-to-heal wounds, with a focus on innovation [2] Group 2 - MiMedx aims to be the leading global provider of healing solutions, enhancing quality of life through its product portfolio [2] - The company has over a decade of experience in the wound care, burn, and surgical sectors of healthcare [2]

Core Insights - The Centers for Medicare and Medicaid Services (CMS) proposed a new reimbursement mechanism for skin substitutes, moving from the Average Sales Price (ASP) methodology to a fixed price of $125.38 per square centimeter [2][3] - The skin substitute market has seen a significant increase in Medicare spending, rising from approximately $1.5 billion in 2022 to nearly $10 billion in 2024, highlighting the need for reimbursement reform to combat fraud, waste, and abuse [3] Company Positioning - MiMedx Group, Inc. supports the proposed reimbursement changes and believes that reform is necessary to restore rational market behavior and benefit stakeholders, taxpayers, and patients [2][3] - The company is well-positioned to thrive in an environment where product capabilities, backed by strong clinical evidence, influence selection and usage [3] Upcoming Developments - The Wasteful and Inappropriate Service Reduction (WISeR) model, Local Coverage Determinations (LCDs), and the Physician Fee Schedule (PFS) rules are set to be implemented on January 1, 2026 [3] - The Hospital Outpatient Prospective Payment System (OPPS) is also expected to be released in proposed form, with implementation slated for January 1, 2026 [4]

Company Overview - MiMedx (MDXG) shares increased by 8% in the last trading session, closing at $7, with higher trading volume compared to normal sessions [1] - The stock has shown a 0.5% gain over the past four weeks [1] - The rise in stock price is linked to investor optimism regarding the company's product portfolio in wound care, burn, and surgical sectors [1] Financial Performance - MiMedx is expected to report quarterly earnings of $0.06 per share, reflecting a year-over-year decline of 25% [2] - Revenue projections for the upcoming quarter are $89.28 million, which is a 2.4% increase from the same quarter last year [2] Earnings Estimates and Stock Movement - The consensus EPS estimate for MiMedx has remained unchanged over the last 30 days, indicating stability in earnings expectations [4] - Historical data suggests that stock prices typically do not continue to rise without trends in earnings estimate revisions [3][4] Industry Context - MiMedx operates within the Zacks Medical - Biomedical and Genetics industry, which includes other companies like PTC Therapeutics (PTCT) [5] - PTC Therapeutics has experienced a 0.7% decline in its stock price, with a return of -7.2% over the past month [5] - The consensus EPS estimate for PTC Therapeutics has decreased by 0.4% to -$1.07, representing a 7.8% increase from the previous year [6]

Investor Presentation – May 2025 2 • Growing expansion outside of the U.S.; • Our growth expectations in 2025 and beyond, including our growth in surgery, increased funding in targeted research and expandedproduct portfolio; • Expected results of research and development, including that our efforts will innovate and diversify our product portfolio; • Placental-derived products and their potential clinical benefits; • Expectations regarding the reimbursement environment for the Company's products, including ...

Company Overview - MiMedx Group, Inc. is a pioneer and leader in the healthcare sector focused on healing solutions, particularly for chronic and hard-to-heal wounds [2] - The company aims to be the leading global provider of healing solutions through relentless innovation to restore quality of life [2] Upcoming Investor Conferences - MiMedx will participate in the Craig-Hallum 22nd Annual Institutional Investor Conference on May 28, 2025, in Minneapolis, MN, with 1:1 sessions [1] - The company will also attend the Goldman Sachs 46th Annual Global Healthcare Conference on June 11, 2025, in Miami, FL, with 1:1 sessions [1] - Additionally, MiMedx will be part of the Northland Capital Growth Conference on June 25, 2025, which will be held virtually, also featuring 1:1 sessions [1]

Summary of Conference Call Notes Company Overview - The company operates in the wound care and surgical products industry, with a focus on chronic and hard-to-heal wounds. [1][2] Key Products - **EpiFix**: Flagship product with widely recognized efficacy data. - **AmnioEffect**: A lyophilized surgical product that has gained traction since its launch 2.5 years ago. - **HelioGen**: First xenograft product acquired, derived from bovine sources, and cleared under the 510(k) process. [1][2] Business Segmentation - Wound care products account for approximately two-thirds of the business, while surgical products make up the remaining third. [2] Growth Metrics - Wound care segment grew by 12% in 2024, while surgical products grew by 8% year-over-year. - In Q1, surgical products grew by 16%, while wound care products remained flat. [3] Strategic Initiatives - The company is focusing on building evidence for surgical products, with several studies underway, including a randomized controlled trial for EpiEffect. [4][5] - Aiming to have Mimetics products used in tens of millions of surgical procedures annually. [5] Customer Engagement - The company emphasizes customer intimacy, aiming to be a trusted partner rather than just a vendor, with initiatives like MyMedix Connect. [5] Regulatory Environment - The company is advocating for Medicare reform due to the influx of unproven products in the market, which leads to fraud and abuse. [5][6] - Anticipation of changes in the national fee schedule by CMS in July 2026. [6] Financial Performance - Reported $350 million in sales for the trailing 12 months, with adjusted gross margins in the mid-80s, specifically 82%. [7] - Q1 net revenue was $88 million, representing a 4% year-over-year growth, with a 20% EBITDA margin. [8] - Ended Q1 with over $106 million in gross cash and $88 million in net cash after accounting for term debt. [8] Leadership and Market Position - The leadership team has significant experience in healthcare and medtech, with a long-term focus on growth. [9] - The company believes it has a defensible IP posture and competitive position in a maturing reimbursement regulatory landscape. [10] Conclusion - The company is optimistic about its market position, customer engagement, and financial health, with ongoing advocacy for regulatory reform to enhance business operations. [10]

Company Overview - MiMedx Group, Inc. is a pioneer in the healthcare sector, focusing on healing solutions for chronic and hard-to-heal wounds [3] - The company has over a decade of experience in providing products for wound care, burn, and surgical applications [3] - MiMedx aims to be the leading global provider of healing solutions through continuous innovation [3] Event Participation - MiMedx's senior management will participate in the BofA Securities 2025 Healthcare Conference in Las Vegas, NV [1] - The presentation is scheduled for May 13, 2025, at 5:15 p.m. PDT [2] - Investors interested in meeting with senior management can contact their Bank of America representative [2]

Core Insights - MiMedx reported quarterly earnings of $0.06 per share, matching the Zacks Consensus Estimate, but down from $0.07 per share a year ago [1] - The company generated revenues of $88.21 million for the quarter ended March 2025, exceeding the Zacks Consensus Estimate by 2.56% and up from $84.71 million year-over-year [2] - MiMedx shares have declined approximately 28.1% year-to-date, contrasting with the S&P 500's decline of 5.5% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.07 on revenues of $93.5 million, and for the current fiscal year, it is $0.29 on revenues of $375 million [7] - The estimate revisions trend for MiMedx is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Industry Context - The Medical - Biomedical and Genetics industry, to which MiMedx belongs, is currently ranked in the top 32% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Alnylam Pharmaceuticals, another company in the same industry, is expected to report a quarterly loss of $0.56 per share, reflecting a significant year-over-year decline of 250% [9]

Financial Data and Key Metrics Changes - The company reported Q1 2025 net sales of $88 million, representing a 4% year-over-year growth, despite a tough comparison from Q1 2024 which had 18% growth [5][19] - Adjusted gross profit margin was 84% for the quarter, while GAAP gross margin was 81%, down from 85% in the prior year [21][24] - Adjusted EBITDA was $17 million, or 20% of net sales, compared to $19 million, or 22% of net sales in the prior year [24] - The company ended the quarter with $106 million in cash, an increase of $2 million during the quarter [8][25] Business Line Data and Key Metrics Changes - Surgical sales grew by 16% to $32 million, driven by strong performance from AmnioFect and HelioGen [20] - Wound sales declined by 2% to $56 million, facing challenges due to Medicare reimbursement disruptions [20][12] - The Amneal branded products grew by 22% in Q1, while HelioGen showed sequential growth from a low base [11] Market Data and Key Metrics Changes - The company noted that approximately 25% of its overall business has ASP exposure, which complicates pricing strategies in the current reimbursement environment [15][47] - The ongoing disruption in the private office and associated care settings due to Medicare reimbursement issues has impacted sales, particularly in the wound care segment [6][12] Company Strategy and Development Direction - The company aims to innovate and diversify its product portfolio, focusing on unique product configurations to meet customer needs [10] - Strategic priorities include expanding the surgical market footprint and enhancing customer relationships through programs like Mimetics Connect [16][18] - The company is actively pursuing opportunities for organic and inorganic growth, including potential acquisitions [62] Management's Comments on Operating Environment and Future Outlook - Management expressed disappointment over the delay in Medicare reimbursement reforms but remains committed to advocating for necessary changes [27][28] - The company reiterated its full-year revenue growth outlook to be at least in the high single digits, with expectations for higher growth rates in the latter half of the year [31] - Long-term prospects remain positive, with expectations of resetting top-line growth to low double digits post-reform [31] Other Important Information - The company has contingency plans in place to adapt to the current reimbursement environment and is exploring third-party manufactured products to retain customers [13][15] - Management emphasized the importance of generating clinical evidence to support product use in surgical applications [16] Q&A Session Summary Question: Adjusted gross profit margin expectations - Management confirmed that the adjusted gross profit margin of 84% in Q1 was related to product mix and expected some pressure from ASPs throughout the year [35] Question: Progress on Equifax in Japan - Management indicated that growth in Japan is on track but remains relatively small in overall contribution [37] Question: Overall reimbursement landscape and confidence in future changes - Management expressed frustration over the lack of changes in the reimbursement landscape but remains hopeful for future reforms [42][44] Question: Shifting private office volumes to new products - Management stated that the shift to higher-priced products is a necessary step to protect business but cautioned against expecting significant volume conversion [50][52] Question: Efforts to prepare for a better market environment - Management highlighted the importance of executing their plan, expanding product offerings, and investing in commercial strength and clinical research [60][62] Question: Changes in purchasing patterns due to LCD delays - Management suggested that there may be shifts in purchasing patterns as higher-priced products become more prevalent, but the overall impact remains uncertain [70][74]