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MiMedx(MDXG) - 2023 Q2 - Quarterly Report
2023-07-31 16:00
Commission File Number 001-35887 MIMEDX GROUP, INC. (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________________to______________________ Florida 26-279255 ...
MiMedx(MDXG) - 2023 Q1 - Earnings Call Transcript
2023-05-03 03:08
Financial Data and Key Metrics Changes - The company reported Q1 2023 net sales of $71.7 million, a nearly 22% increase year-over-year, marking the highest first-quarter performance in five years [51][101] - Gross profit margin improved to 82.7%, with adjusted EBITDA of $5.5 million, a significant turnaround from a loss of $1.7 million a year ago [24][98] - Net loss decreased to $5 million from $10.5 million in the previous year [98] Business Line Data and Key Metrics Changes - The Wound & Surgical segment generated net sales of $70.6 million, reflecting approximately 21% growth, with a contribution margin of 28.5% [69] - The company is focusing on enhancing its product portfolio and expanding geographically, with new products launched contributing to growth [30][55] Market Data and Key Metrics Changes - The company experienced growth across all sites of service, with a notable increase in the private office segment, which had been challenging due to the Medicare reimbursement environment [56] - Initial sales began in Japan, with expectations for adoption to ramp up in the coming months [58] Company Strategy and Development Direction - The company aims to build on its leadership position in the Wound & Surgical markets by enhancing its product offerings and expanding into adjacent markets [55][31] - A focus on expense management and continuous process improvement is emphasized to ensure profitable growth over time [33] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about EBITDA margin improvement as the business scales, driven by the performance of the sales organization [2] - The company anticipates low double-digit topline growth for the foreseeable future, with a cautious approach to expectations due to market dynamics [76][111] Other Important Information - The company is nearing the resolution of legal expenses related to past issues, which is expected to improve capital utilization moving forward [75] - The company has a robust pipeline of new products and continues to invest in innovation to remain competitive [8][132] Q&A Session Summary Question: Topline performance in the quarter - Management noted that approximately 5% of growth was attributed to easier comparisons from the previous year and an extra shipping day [81] Question: Adjusted EBITDA performance - The $5.5 million in adjusted EBITDA was driven by revenue growth and restructuring activities, with expectations for continued improvement in gross margins [87][114] Question: Impact of OIG recommendations - Management acknowledged that the OIG letter may have influenced private practices to avoid certain products, but the full impact is still uncertain [118] Question: New product contributions - New products have been successful and are significant contributors to year-over-year growth, with ongoing investments in research to support this [125][151] Question: Revenue growth in Japan - Initial sales in Japan are expected to grow, with ongoing training for providers to support product adoption [155]
MiMedx(MDXG) - 2023 Q1 - Quarterly Report
2023-05-01 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________________to______________________ Commission File Number 001-35887 MIMEDX GROUP, INC. (Exact name of registrant as specified in its charter) Florida 26-27925 ...
MiMedx(MDXG) - 2022 Q4 - Earnings Call Transcript
2023-03-01 03:46
MiMedx Group, Inc. (NASDAQ:MDXG) Q4 2022 Results Conference Call February 28, 2023 5:00 PM ET Company Participants Matt Notarianni - Head, IR Joe Capper - CEO Pete Carlson - CFO Conference Call Participants Anthony Petrone - Mizuho Group Carl Byrnes - Northland Capital Markets Swayampakula Ramakanth - H.C. Wainwright John Vandermosten - Zacks Operator Good afternoon, and thank you for standing by. Welcome to the MiMedx Fourth Quarter and Full Year 2022 Operating and Financial Results Conference Call. At thi ...
MiMedx(MDXG) - 2022 Q4 - Annual Report
2023-02-27 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________to __________ Commission file number 001-35887 MIMEDX GROUP, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation ...
MiMedx(MDXG) - 2022 Q3 - Earnings Call Transcript
2022-11-03 02:32
MiMedx Group, Inc. (NASDAQ:MDXG) Q3 2022 Earnings Conference Call November 2, 2022 5:00 PM ET Company Participants Matt Notarianni ??? Head-Investor Relations Todd Newton ??? Interim Chief Executive Officer Pete Carlson ??? Chief Financial Officer Rohit Kashyap ??? President-Wound and Surgical Robert Stein ??? President-Regenerative Medicine Conference Call Participants Anthony Petrone ??? Mizuho Group RK ??? H.C. Wainwright Carl Byrnes ??? Northland Capital John Vandermosten ??? Zacks Operator Good aftern ...
MiMedx(MDXG) - 2022 Q3 - Earnings Call Presentation
2022-11-02 22:46
Q3:22 Financial Results 1 November 2, 2022 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: • future sales or sales growth; • the effectiveness of amniotic tissue as a therapy for any particular ind ...
MiMedx(MDXG) - 2022 Q3 - Quarterly Report
2022-11-01 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________________to______________________ Commission File Number 001-35887 MIMEDX GROUP, INC. (Exact name of registrant as specified in its charter) Florida 26-2 ...
MiMedx(MDXG) - 2022 Q2 - Earnings Call Transcript
2022-08-03 15:45
MiMedx Group, Inc. (NASDAQ:MDXG) Q2 2022 Earnings Conference Call August 3, 2022 8:30 AM ET Company Participants Jack Howarth ??? Senior Vice President-Investor Relations Tim Wright ??? Chief Executive Officer Pete Carlson ??? Chief Financial Officer Rohit Kashyap ??? President Wound Care and Surgical Robert Stein ??? President, Regenerative Medicine and Biologics Innovation Conference Call Participants Anthony Petrone ??? Mizuho Group RK ??? H.C. Wainwright Carl Byrnes ??? Northland Capital Markets John Va ...
MiMedx(MDXG) - 2022 Q2 - Quarterly Report
2022-08-01 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________________to______________________ Commission File Number 001-35887 MIMEDX GROUP, INC. (Exact name of registrant as specified in its charter) Florida 26-279255 ...