[First Quarter 2025 Operating and Financial Results](index=1&type=section&id=First%20Quarter%202025%20Operating%20and%20Financial%20Results) This section details MIMEDX's Q1 2025 financial performance, strategic highlights, and future outlook [Q1 2025 Highlights & CEO Commentary](index=1&type=section&id=Q1%202025%20Highlights%20%26%20CEO%20Commentary) MIMEDX reported solid Q1 2025 results with 4% net sales growth and 20% Adjusted EBITDA margin, driven by Surgical products and new product introductions Q1 2025 Key Financial Metrics | Metric | Q1 2025 | YoY Change | | :--- | :--- | :--- | | Net Sales | $88 million | +4% | | GAAP Net Income | $7 million | - | | GAAP EPS | $0.05 | - | | Adjusted EBITDA | $17 million | - | | Adjusted EBITDA Margin | 20% | - | - Surgical products recorded **double-digit growth**, unlocking sizable market opportunities through a growing body of clinical evidence[2](index=2&type=chunk) - The company plans to mitigate the impact of delayed LCDs by introducing new products, including the recently added CELERA™, and pursuing both organic and inorganic pipeline additions[2](index=2&type=chunk) [Detailed Financial Performance](index=1&type=section&id=First%20Quarter%202025%20Results%20Discussion) Q1 2025 net sales increased 4% to $88 million, driven by Surgical products, despite a gross margin decline and higher operating expenses Q1 2025 vs Q1 2024 Performance | Metric | Q1 2025 ($M) | Q1 2024 ($M) | | :--- | :--- | :--- | | Net Sales | $88.0M | $85.0M | | Gross Profit | $72.0M | $72.0M | | Gross Margin | 81% | 85% | | SG&A Expenses | $60.0M | $55.0M | | Net Income | $7.0M | $9.0M | - The **4% net sales growth** was primarily driven by a **16% increase** in Surgical products, while Wound products saw a **2% decline**[3](index=3&type=chunk) - The increase in SG&A expenses was attributed to higher sales commissions, salary and benefit costs, and incremental legal and regulatory dispute expenses[6](index=6&type=chunk) - Cash and cash equivalents increased to **$106 million** as of March 31, 2025, from **$104 million** at the end of 2024[8](index=8&type=chunk) [Financial Outlook](index=2&type=section&id=Financial%20Outlook) MIMEDX reaffirms 2025 guidance for high single-digit net sales growth and over 20% Adjusted EBITDA margin, targeting long-term low double-digit growth - **2025 Outlook:** Net sales growth is expected to be at least in the **high single-digits**, with an Adjusted EBITDA margin **above 20%**[9](index=9&type=chunk) - **Longer-Term Outlook:** The company targets annual net sales growth in the **low double-digits** and an Adjusted EBITDA margin **exceeding 20%**[9](index=9&type=chunk) [Unaudited Financial Statements](index=4&type=section&id=Selected%20Unaudited%20Financial%20Information) This section presents the company's condensed consolidated balance sheets, statements of operations, and cash flows for Q1 2025 [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheet as of March 31, 2025, shows total assets of $270.4 million and total liabilities of $67.6 million, reflecting stronger equity Balance Sheet Highlights (in thousands) | Account | March 31, 2025 (in thousands) | December 31, 2024 (in thousands) | | :--- | :--- | :--- | | Cash and cash equivalents | $106,431 | $104,416 | | Total current assets | $200,112 | $191,886 | | Total assets | $270,420 | $263,915 | | Total liabilities | $67,644 | $70,808 | | Total stockholders' equity | $202,776 | $193,107 | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q1 2025 net sales increased 4.1% to $88.2 million, but higher operating expenses led to a decrease in net income to $7.0 million Statement of Operations Highlights (in thousands, except per share data) | Account | Q1 2025 (in thousands) | Q1 2024 (in thousands) | | :--- | :--- | :--- | | Net sales | $88,205 | $84,709 | | Gross profit | $71,647 | $71,722 | | Operating income | $8,251 | $13,198 | | Net income | $7,023 | $9,261 | | Diluted net income per common share | $0.05 | $0.06 | [Condensed Consolidated Statements of Cash Flows](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities was $5.3 million in Q1 2025, contributing to a $2.0 million net increase in cash for the quarter Cash Flow Summary (in thousands) | Activity | Q1 2025 (in thousands) | Q1 2024 (in thousands) | | :--- | :--- | :--- | | Net cash from operating activities | $5,299 | $5,978 | | Net cash used in investing activities | ($406) | ($6,024) | | Net cash used in financing activities | ($2,878) | ($33,467) | | **Net change in cash** | **$2,015** | **($33,513)** | [Reconciliation of Non-GAAP Measures](index=6&type=section&id=Reconciliation%20of%20Non-GAAP%20Measures) This section provides reconciliations for Adjusted EBITDA, Adjusted Net Income, Adjusted EPS, Free Cash Flow, and net sales by product category [Adjusted EBITDA](index=7&type=section&id=Adjusted%20EBITDA) Q1 2025 Adjusted EBITDA was $17.2 million (19.5% margin), reflecting a decrease from Q1 2024 after non-GAAP adjustments Adjusted EBITDA Reconciliation (in thousands) | Metric | Q1 2025 (in thousands) | Q1 2024 (in thousands) | | :--- | :--- | :--- | | Net Income | $7,023 | $9,261 | | Non-GAAP Adjustments | $10,198 | $9,404 | | **Adjusted EBITDA** | **$17,221** | **$18,665** | | **Adjusted EBITDA margin** | **19.5%** | **22.0%** | [Adjusted Net Income and Adjusted EPS](index=7&type=section&id=Adjusted%20Net%20Income%20and%20Adjusted%20EPS) Q1 2025 Adjusted Net Income was $9.6 million and Adjusted EPS was $0.06, reflecting adjustments for non-recurring items Adjusted Net Income & EPS Reconciliation | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | GAAP Net Income | $7.0M | $9.3M | | **Adjusted Net Income** | **$9.6M** | **$10.0M** | | GAAP Diluted EPS | $0.05 | $0.06 | | **Adjusted EPS** | **$0.06** | **$0.07** | [Free Cash Flow](index=10&type=section&id=Free%20Cash%20Flow) Q1 2025 Free Cash Flow increased slightly to $4.9 million, representing cash generated beyond capital investments Free Cash Flow Reconciliation (in thousands) | Metric | Q1 2025 (in thousands) | Q1 2024 (in thousands) | | :--- | :--- | :--- | | Net cash flows provided by operating activities | $5,299 | $5,978 | | Capital expenditures | ($377) | ($1,144) | | **Free Cash Flow** | **$4,922** | **$4,834** | [Net Sales by Product Category](index=10&type=section&id=Net%20Sales%20by%20Product%20Category) Q1 2025 net sales of $88.2 million were driven by 16.2% growth in Surgical products, offsetting a 1.7% decline in Wound products Net Sales by Product Category (in thousands) | Category | Q1 2025 (in thousands) | Q1 2024 (in thousands) | YoY Change | | :--- | :--- | :--- | :--- | | Wound | $56,073 | $57,049 | -1.7% | | Surgical | $32,132 | $27,660 | +16.2% | | **Total Net Sales** | **$88,205** | **$84,709** | **+4.1%** |

MARIETTA, Ga., April 16, 2025 (GLOBE NEWSWIRE) -- MiMedx Group, Inc. (Nasdaq: MDXG) ("MIMEDX" or the "Company") today announced that it will report its operating and financial results for the first quarter ended March 31, 2025 after the market close on Wednesday, April 30, 2025. The MIMEDX senior management team will host a webcast and conference call to review its results beginning at 4:30 p.m. Eastern Time on the same day. MIMEDX is a pioneer and leader focused on helping humans heal. With more than a dec ...

Core Insights - MiMedx Group, Inc. will participate in several industry conferences this quarter to showcase its Advanced Wound Care and Surgical Solutions [1][2] - The company aims to highlight its commitment to innovation and the scientific evidence supporting its products at these conferences [2] Conference Participation - MiMedx will be featured at the Diabetic Limb Salvage (DLS) Conference from April 10-12, 2025, in Washington, D.C., where it will host a sponsored lunch symposium [3] - The company will also participate in the Symposium on Advanced Wound Care (SAWC) Spring 2025 from April 30 to May 4, 2025, in Grapevine, TX, with another sponsored lunch symposium [3] - Additionally, MiMedx will present at Digestive Disease Week (DDW) 2025 from May 3-6, 2025, in San Diego, CA, focusing on the use of amniotic tissues in colorectal surgery [4] Company Overview - MiMedx is recognized as a leader in providing solutions for chronic and hard-to-heal wounds, with a vision to be the leading global provider of healing solutions through innovation [4] - The company has over a decade of experience in the wound care, burn, and surgical sectors of healthcare [4] Conference Details - The DLS Conference emphasizes a multidisciplinary approach to wound healing and limb salvage, featuring an international faculty and promoting evidence-based practices [5] - The SAWC serves as a forum for the entire wound care team to connect and improve patient outcomes through education and advanced clinical reviews [6] - DDW is the largest international gathering in gastroenterology and related fields, showcasing over 4,400 abstracts and hundreds of lectures on the latest advances [7]

Core Insights - MiMedx Group, Inc. will participate in several industry conferences this quarter to showcase its Advanced Wound Care and Surgical Solutions [1][2] - The company aims to highlight its commitment to innovation and the scientific evidence supporting its products at these conferences [2] Conference Participation - MiMedx will be featured at the Diabetic Limb Salvage (DLS) Conference from April 10-12, 2025, in Washington, D.C., where it will host a sponsored lunch symposium [3] - The company will also participate in the Symposium on Advanced Wound Care (SAWC) Spring 2025 from April 30 to May 4, 2025, in Grapevine, TX, with another sponsored lunch symposium [3] - Additionally, MiMedx will present at the Digestive Disease Week (DDW) from May 3-6, 2025, in San Diego, CA, focusing on the use of amniotic tissues in colorectal surgery [4] Company Overview - MiMedx is recognized as a leader in providing solutions for chronic and hard-to-heal wounds, with a vision to be the global provider of healing solutions through innovation [4] - The company has over a decade of experience in the wound care, burn, and surgical sectors of healthcare [4] Conference Details - The DLS Conference emphasizes a multidisciplinary approach to wound healing and limb salvage, featuring an international faculty and promoting evidence-based practices [5] - The SAWC serves as a forum for various healthcare professionals to connect and improve patient outcomes through education and advanced clinical reviews [6] - DDW is the largest international gathering in gastroenterology and related fields, showcasing significant research and advancements in GI medicine [7]

MARIETTA, Ga., Feb. 27, 2025 (GLOBE NEWSWIRE) -- MiMedx Group, Inc. (Nasdaq: MDXG) (“MIMEDX” or the “Company”) today announced that senior management will participate in the TD Cowen 45th Annual Health Care Conference. TD Cowen's 45th Annual Health Care Conference is taking place on March 3-5, 2025, at the Boston Marriott Copley Place in Boston, MA. The conference incorporates presentations, fireside chats and innovative panel discussions, moderated by members of the TD Cowen research team, that focus on va ...

MiMedx Group, Inc. (NASDAQ:MDXG) Q4 2024 Earnings Conference Call February 26, 2024 4:30 AM ET Company Participants Matt Notarianni - Head, Investor Relations Joseph Capper - Chief Executive Officer Doug Rice - Chief Financial Officer Conference Call Participants Chase Knickerbocker - Craig-Hallum Group Ross Osborn - Cantor Fitzgerald Bradley Bowers - Mizuho Securities Brooks O'Neil - Lake Street Capital Markets Carl Byrnes - Northland Capital Markets Operator Good afternoon, and thank you for standing by. ...

Investor Presentation January 2025 Disclaimer & Cautionary Statements This presentation includes forward-looking statements. Forward-looking statements are subject to risks and uncertainties, and the Company cautions investors against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Such forward-looking statements include statements regarding: Additional forward-looking statements may be identified by words such as "belie ...

Financial Performance - MiMedx reported quarterly earnings of $0.07 per share, matching the Zacks Consensus Estimate, and an increase from $0.04 per share a year ago [1] - The company posted revenues of $92.91 million for the quarter ended December 2024, exceeding the Zacks Consensus Estimate by 6.79%, compared to $86.83 million in the same quarter last year [2] - Over the last four quarters, MiMedx has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] Stock Performance - MiMedx shares have declined approximately 17.3% since the beginning of the year, while the S&P 500 has gained 1.3% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.05 on revenues of $86 million, and for the current fiscal year, it is $0.32 on revenues of $375 million [7] - The trend of estimate revisions for MiMedx is mixed, which could change following the recent earnings report [6] Industry Context - MiMedx operates within the Medical - Biomedical and Genetics industry, which is currently ranked in the top 24% of over 250 Zacks industries [8] - Research indicates that the top 50% of Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1 [8]

Financial Performance - Fourth quarter net sales increased by 7% year-over-year to $93 million, while full year net sales grew by 9% to $349 million[3]. - Fourth quarter GAAP net income was $7 million, with earnings per share of $0.05; full year net income totaled $42 million[11]. - Adjusted EBITDA for the fourth quarter was $20 million, representing 21% of net sales, with an expected Adjusted EBITDA margin above 20% for 2025[2][13]. - Gross profit for the fourth quarter was $76 million, with a gross margin of 82%, slightly down from 84% in the prior year[5]. - Operating income decreased to $11,053 million in Q4 2024 from $15,489 million in Q4 2023, a decline of 28.5%[23]. - Net income from continuing operations for Q4 2024 was $7,437 million, significantly down from $51,287 million in Q4 2023, a decrease of 86.5%[23]. - Adjusted EBITDA for Q4 2024 was $19,768 million, down from $21,217 million in Q4 2023, representing a decline of 6.8%[32]. - The company reported a basic net income per common share of $0.05 for Q4 2024, down from $0.40 in Q4 2023[23]. - Net income for Q4 2024 was $7,437,000, a decrease from $53,476,000 in Q4 2023, while adjusted net income increased to $11,038,000 from $10,827,000[36]. Expenses - Selling, general and administrative expenses for the fourth quarter rose to $61 million, a 13% increase from $54 million in the same period last year[7]. - Research and development expenses for the fourth quarter were $4 million, up from $2 million in the prior year, driven by ongoing product development[9]. - Research and development expenses increased to $3,571 million in Q4 2024 from $2,434 million in Q4 2023, a rise of 46.8%[23]. - The company reported a significant reduction in investigation and related expenses, resulting in a benefit of $9 million for the full year 2024[10]. - Selling and marketing expenses peaked in Q4 2024 at $47,638,000, showing a consistent upward trend throughout the year[44]. - Total selling, general and administrative expenses in Q4 2024 reached $61,041,000, representing a 12.5% increase from Q3 2024[44]. - Total selling, general and administrative expenses for Q1 2024 were $55,129,000, an increase of 5.4% compared to Q1 2023's $52,250,000[44]. Cash Flow and Liquidity - Cash and cash equivalents increased to $104 million as of December 31, 2024, compared to $82 million a year earlier[12]. - Net cash flows provided by operating activities for Q4 2024 were $18,782 million, an increase from $10,257 million in Q4 2023[25]. - Total net cash flows provided by operating activities for the year ended December 31, 2024, were $66,198,000, compared to $26,775,000 for the year ended December 31, 2023[42]. - Free cash flow for Q4 2024 was $18,519,000, significantly higher than $9,830,000 in Q4 2023, indicating improved cash generation capabilities[42]. Future Outlook - The company anticipates high single-digit net sales growth for 2025, with long-term expectations of low double-digit growth[13]. - The company is focused on developing innovative products and strengthening customer relationships to drive future growth[2]. - The company plans to continue focusing on strategic legal and regulatory expenses, which amounted to $2,806,000 for the year ended December 31, 2023[37]. Revenue and Sales Growth - Net sales for Q4 2024 reached $92,907 million, a 7.4% increase from $86,832 million in Q4 2023[23]. - The total revenue for the year ended December 31, 2024, was $291,803,000, an increase from $266,843,000 in 2023[38]. - The surgical product category saw net sales of $31,550,000 in Q4 2024, compared to $30,852,000 in Q4 2023, indicating growth in this segment[43]. Impairments and Losses - The company reported an impairment of intangible assets of $446,000 for the year ended December 31, 2024, compared to no impairment in 2023[36]. - The company experienced a loss on extinguishment of debt amounting to $1,401,000 for the year ended December 31, 2024, compared to no such loss in 2023[37]. Taxation - The long-term effective tax rate was normalized at 25% for both 2024 and 2023[31].

Core Insights - MiMedx Group, Inc. reported a 7% year-over-year growth in net sales for Q4 2024, totaling $93 million, and a 9% increase for the full year 2024, reaching $349 million [3][10] - The company achieved a GAAP net income of $7 million for Q4 2024, with earnings per share of $0.05, and a full-year net income of $42 million [10][23] - Adjusted EBITDA for Q4 2024 was $20 million, representing 21% of net sales, with an adjusted gross margin of 84% [4][5][29] Financial Performance - Q4 2024 net sales increased to $93 million from $87 million in Q4 2023, while full-year sales rose from $321 million in 2023 to $349 million in 2024 [3] - Gross profit for Q4 2024 was $76 million, up from $73 million in the prior year, with a gross margin of 82% compared to 84% in Q4 2023 [4] - For the full year 2024, gross profit was $289 million, reflecting a $22 million increase from the previous year, maintaining a gross margin of 83% [5] Operating Expenses - SG&A expenses for Q4 2024 were $61 million, an increase from $54 million in Q4 2023, driven by higher compensation and legal costs [6] - Full-year SG&A expenses totaled $225 million, up from $211 million in 2023, marking a 7% increase [7] - R&D expenses for Q4 2024 were $4 million, compared to $2 million in Q4 2023, while full-year R&D expenses remained flat at $12 million [8] Cash Position - As of December 31, 2024, the company had $104 million in cash and cash equivalents, an increase from $82 million a year earlier [11] - The cash position, net of debt, was $86 million, reflecting a sequential increase of $16 million [11] Future Outlook - MiMedx expects net sales growth of at least high single-digits for 2025, with an Adjusted EBITDA margin above 20% [12] - The company aims for low double-digit annual net sales growth in the long term, maintaining an Adjusted EBITDA margin above 20% [12] Company Strategy - The CEO emphasized the focus on innovative product development and strengthening customer relationships to drive growth in the Wound and Surgical businesses [2] - The company is actively engaging with stakeholders to address Medicare reimbursement challenges and promote evidence-based product innovation [2]