Rigorous Clinical Trials: The ongoing Phase 3 trials are being run according to FDA and industry standards that ensure the integrity of all reported results. Mr. Barry succeeds Remi Barbier, the Company's Chairman, President and CEO, who resigned from the Company and the Board. Mr. Barbier will remain employed by the Company until September 13, 2024 in a nonexecutive capacity, without duties or responsibilities. Mr. Barry said that in addition to the leadership changes, the Board has added Pierre Gravier as ...

Mr. Capper continued, "With today's announcement, Kim is expanding her area of responsibility to include marketing and international commercial operations, where we will continue to benefit from her guidance. I look forward to working alongside of Kim and the rest of the MIMEDX team as we continue the process of building MIMEDX into a world class MedTech company." MIMEDX is a pioneer and leader focused on helping humans heal. With more than a decade of helping clinicians manage chronic and other hard-to-hea ...

Net Sales of $85 Million Grew 18% Year-Over-Year for the First Quarter First Quarter GAAP Net Income was $9 Million First Quarter Adjusted EBITDA of $19 Million, or 22% of Net Sales Management to Host Conference Call Today, April 30, 2024, at 4:30 PM ET Exhibit 99.1 MIMEDX Announces First Quarter 2024 Operating and Financial Results MARIETTA, Ga., April 30, 2024 — MiMedx Group, Inc. (Nasdaq: MDXG) ("MIMEDX" or the "Company"), today announced operating and financial results for the first quarter 2024. Recent ...

For the Quarterly Period Ended March 31, 2024 OR 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 Florida 26-2792552 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 1775 West Oak Commons Ct NE Marietta, GA 30062 (Address of principal executive offices) (Zip Code) (770) 651-9100 (Registrant's telephone number, including area code) ☐ TRA ...

MARIETTA, Ga., March 20, 2024 (GLOBE NEWSWIRE) -- MiMedx Group, Inc. (NASDAQ:MDXG) ("MIMEDX" or the "Company") today announced that it has entered into an agreement with TELA Bio, Inc. to obtain exclusive rights to its manufacturing and supply agreement with Regenity Biosciences that will enable the Company to add xenograft products to its portfolio of Advanced Wound Care and Surgical solutions. Commenting on this agreement, Joseph H. Capper, MIMEDX Chief Executive Officer, stated, "We are excited to announ ...

MARIETTA, Ga., March 04, 2024 (GLOBE NEWSWIRE) -- MiMedx Group, Inc. (NASDAQ:MDXG) ("MIMEDX" or the "Company") today announced the appointments of Tiffany Olson and Dorothy Puhy to its Board of Directors, effective as of March 1, 2024. Ms. Olson and Ms. Puhy each bring extensive and relevant experience across the healthcare industry, with demonstrated records of executive leadership, strategic counsel and shareholder value creation. In connection with these appointments, the Board of Directors unanimously a ...

MiMedx Group, Inc. (NASDAQ:MDXG) Q4 2023 Results Conference Call February 28, 2024 4:30 PM ET Company Participants Matt Notarianni - Head of Investor Relations Joe Capper - Chief Executive Officer Doug Rice - Chief Financial Officer Conference Call Participants Chase Knickerbocker - Craig Hallum Carl Byrnes - Northland Capital Markets Swayampakula Ramakanth - H.C. Wainwright Anthony Petrone - Mizuho John Vandermosten - Zacks Operator Greetings, and welcome to the MiMedx Group Inc. Fourth Quarter and Full Ye ...

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, 2023 ☐ 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 ...

[Financial and Operating Highlights](index=1&type=section&id=Financial%20and%20Operating%20Highlights) MIMEDX achieved strong Q4 and full-year 2023 performance, with significant net sales growth and a substantial profitability turnaround [Q4 and Full Year 2023 Performance Summary](index=1&type=section&id=Q4%20and%20Full%20Year%202023%20Performance%20Summary) MIMEDX reported strong Q4 and full-year 2023 performance, with net sales increasing 17% and 20% and a significant profitability turnaround Q4 & Full Year 2023 Key Financial Metrics (in millions) | Metric | Q4 2023 | Q4 YoY Growth | Full Year 2023 | FY YoY Growth | | :--- | :--- | :--- | :--- | :--- | | Net Sales | $87 | 17% | $321 | 20% | | GAAP Net Income | $53 | N/A | $58 | N/A | | Adjusted EBITDA | $21 | 189.9% | $58.5 | 733.2% | | Adjusted EBITDA Margin | 24% | - | 18.2% | - | - Q4 2023 Net Income of **$53 million** included a significant one-time, non-cash tax benefit of **$40 million**[1](index=1&type=chunk) [Management Commentary](index=1&type=section&id=Management%20Commentary) Management highlighted 2023's transformative growth and profitability, projecting low double-digit net sales growth and over 20% Adjusted EBITDA margin for 2024 - Full-year 2023 top-line growth of **20%** exceeded expectations and provides strong momentum for the future[3](index=3&type=chunk) - The company has successfully unlocked robust cash flow generation that is expected to improve with scale[3](index=3&type=chunk) - The outlook for 2024 includes low double-digit net sales percentage growth and an Adjusted EBITDA margin exceeding **20%**[3](index=3&type=chunk) [Key Corporate Developments](index=1&type=section&id=Key%20Corporate%20Developments) MIMEDX launched EPIEFFECT®, a new Advanced Wound Care product, and completed significant financial restructuring and debt refinancing - Launched EPIEFFECT®, a new addition to the Advanced Wound Care product portfolio[4](index=4&type=chunk) - Announced the conversion of all outstanding Series B convertible preferred stock to common stock[4](index=4&type=chunk) - Completed a debt refinancing with new senior secured credit facilities in January 2024 and subsequently repaid a **$30 million** revolving credit facility with cash on hand[4](index=4&type=chunk) [Detailed Financial Results Discussion (Q4 & FY 2023)](index=2&type=section&id=Detailed%20Financial%20Results%20Discussion%20(Q4%20%26%20FY%202023)) This section details MIMEDX's Q4 and full-year 2023 financial performance, analyzing net sales, gross profit, operating expenses, net income, and cash position [Net Sales](index=2&type=section&id=Net%20Sales) Net sales grew **17%** in Q4 2023 to **$87 million** and **20%** for the full year to **$321 million**, driven by strong performance across Wound and Surgical markets Net Sales Performance (in millions) | Period | 2023 Net Sales | 2022 Net Sales | YoY Growth | | :--- | :--- | :--- | :--- | | Q4 | $87 | $74 | 17% | | Full Year | $321 | $268 | 20% | [Gross Profit and Margin](index=2&type=section&id=Gross%20Profit%20and%20Margin) Gross margin improved in Q4 2023 to **84.1%** and for the full year to **83.0%**, driven by a favorable product mix and enhanced production yields Gross Profit and Margin Analysis (in millions) | Period | 2023 Gross Profit | 2023 Gross Margin | 2022 Gross Margin | | :--- | :--- | :--- | :--- | | Q4 | $73 | 84.1% | 80.7% | | Full Year | $267 | 83.0% | 82.0% | [Operating Expenses](index=3&type=section&id=Operating%20Expenses) Full-year 2023 operating expenses saw modest SG&A growth, flat R&D, and a significant **58.3%** reduction in investigation-related expenses Full Year Operating Expense Comparison (in millions) | Expense Category | FY 2023 | FY 2022 | Change | | :--- | :--- | :--- | :--- | | SG&A | $211 | $209 | +1.1% | | Research & Development | $13 | $13 | 0% | | Investigation, Restatement & Related | $5 | $12 | -58.3% | [Net Income](index=3&type=section&id=Net%20Income) The company achieved a significant shift to profitability, with full-year 2023 net income of **$67 million**, largely due to a **$37 million** non-cash income tax benefit Net Income (Loss) from Continuing Operations (in millions) | Period | 2023 | 2022 | | :--- | :--- | :--- | | Q4 | $51 | $2 | | Full Year | $67 | ($20) | - The positive results in 2023 were significantly impacted by a **$37 million** non-cash income tax provision benefit related to the reversal of a valuation allowance[14](index=14&type=chunk) [Cash Position](index=3&type=section&id=Cash%20Position) Cash and cash equivalents increased to **$82 million** as of December 31, 2023, up from **$66 million** in 2022, driven by higher sales collections and lower operating expenses Cash and Cash Equivalents (in millions) | Date | Amount | | :--- | :--- | | Dec 31, 2023 | $82 | | Sep 30, 2023 | $81 | | Dec 31, 2022 | $66 | [2024 Financial Outlook](index=4&type=section&id=2024%20Financial%20Outlook) This section outlines MIMEDX's financial projections for 2024, targeting low double-digit net sales growth and an Adjusted EBITDA margin exceeding 20% [Financial Goals](index=4&type=section&id=Financial%20Goals) MIMEDX targets low double-digit net sales growth and an Adjusted EBITDA margin above **20%** for full-year 2024, driven by growth in Wound and Surgical markets - The company's annual goal is to deliver net sales percentage growth in the low double-digits[17](index=17&type=chunk) - For full year 2024, the company expects Adjusted EBITDA as a percentage of net sales to be above **20%**[19](index=19&type=chunk) - Growth in 2024 is expected to be driven by the private office setting (EPIEFFECT launch) and various Surgical use cases (AMNIOEFFECT)[18](index=18&type=chunk) [Financial Statements](index=6&type=section&id=Financial%20Statements) This section presents MIMEDX's condensed consolidated balance sheets, statements of operations, and cash flows for the reported periods [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheet strengthened significantly as of December 31, 2023, with total assets growing to **$239.0 million** and stockholders' equity turning positive Key Balance Sheet Items (in thousands) | Account | Dec 31, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | Cash and cash equivalents | $82,000 | $65,950 | | Total current assets | $164,261 | $134,198 | | Total assets | $239,047 | $171,430 | | Total liabilities | $96,330 | $96,924 | | Total stockholders' equity (deficit) | $142,717 | $(17,988) | [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The 2023 income statement reflects significant operational improvement, with gross profit increasing to **$266.8 million** and a swing to operating income and net income Full Year Income Statement Highlights (in thousands) | Account | Year Ended Dec 31, 2023 | Year Ended Dec 31, 2022 | | :--- | :--- | :--- | | Net sales | $321,477 | $267,841 | | Gross profit | $266,843 | $219,525 | | Operating income (loss) | $37,116 | $(14,727) | | Net income (loss) | $58,228 | $(30,197) | | Diluted net income (loss) per share | $0.37 | $(0.33) | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) The company demonstrated a strong turnaround in cash generation in 2023, with net cash from operating activities at **$26.8 million** and a positive net change in cash Full Year Cash Flow Summary (in thousands) | Cash Flow Activity | Year Ended Dec 31, 2023 | Year Ended Dec 31, 2022 | | :--- | :--- | :--- | | Net cash from operating activities | $26,775 | $(17,893) | | Net cash used in investing activities | $(2,155) | $(2,660) | | Net cash used in financing activities | $(8,570) | $(580) | | **Net change in cash** | **$16,050** | **$(21,133)** | [Reconciliation of Non-GAAP Measures](index=8&type=section&id=Reconciliation%20of%20Non-GAAP%20Measures) This section provides a reconciliation of MIMEDX's non-GAAP financial measures, including Adjusted EBITDA, Adjusted Net Income, Adjusted EPS, and Free Cash Flow [Adjusted EBITDA](index=2&type=section&id=Adjusted%20EBITDA) Adjusted EBITDA significantly increased to **$21.2 million** (24.4% margin) in Q4 2023 and **$58.5 million** for the full year Adjusted EBITDA Reconciliation Summary (in thousands) | Metric | Q4 2023 | Q4 2022 | FY 2023 | FY 2022 | | :--- | :--- | :--- | :--- | :--- | | Net Income (loss) | $53,476 | $(415) | $58,228 | $(30,197) | | **Adjusted EBITDA** | **$21,217** | **$7,315** | **$58,482** | **$7,019** | | Adjusted EBITDA Margin | 24.4% | 9.8% | 18.2% | 2.6% | [Adjusted Net Income (Loss)](index=9&type=section&id=Adjusted%20Net%20Income%20(Loss)) Adjusted Net Income for Q4 2023 was **$10.8 million** and **$23.6 million** for the full year, a significant improvement from the prior year's loss Adjusted Net Income (Loss) Reconciliation (in thousands) | Metric | Q4 2023 | Q4 2022 | FY 2023 | FY 2022 | | :--- | :--- | :--- | :--- | :--- | | Net income (loss) | $53,476 | $(415) | $58,228 | $(30,197) | | **Adjusted net income (loss)** | **$10,827** | **$2,265** | **$23,565** | **$(11,032)** | [Adjusted Earnings Per Share (EPS)](index=10&type=section&id=Adjusted%20Earnings%20Per%20Share%20(EPS)) Adjusted EPS for full-year 2023 was **$0.10**, a positive swing from a **($0.16)** loss in 2022, reflecting normalized earnings Adjusted EPS vs. GAAP Diluted EPS | Metric | Q4 2023 | Q4 2022 | FY 2023 | FY 2022 | | :--- | :--- | :--- | :--- | :--- | | GAAP diluted EPS | $0.32 | $(0.02) | $0.37 | $(0.33) | | **Adjusted EPS** | **$0.04** | **$0.01** | **$0.10** | **$(0.16)** | [Free Cash Flow](index=11&type=section&id=Free%20Cash%20Flow) The company generated positive Free Cash Flow of **$24.8 million** for full-year 2023, a substantial improvement from a negative **$19.4 million** in 2022 Free Cash Flow Reconciliation (in thousands) | Metric | Q4 2023 | Q4 2022 | FY 2023 | FY 2022 | | :--- | :--- | :--- | :--- | :--- | | Net cash from operating activities | $10,257 | $(5,624) | $26,775 | $(17,893) | | Capital expenditures | $(427) | $(667) | $(1,987) | $(1,514) | | **Free Cash Flow** | **$9,830** | **$(6,291)** | **$24,788** | **$(19,407)** |

MARIETTA, Ga., Jan. 22, 2024 (GLOBE NEWSWIRE) -- MiMedx Group, Inc. (NASDAQ:MDXG) ("MIMEDX" or the "Company") today announced that it has enhanced its capital structure by refinancing its existing indebtedness and obtaining additional borrowing capacity in support of the Company's future growth objectives. These new senior secured credit facilities (the "Facilities"), totaling $95 million and due in January 2029, are comprised of a $75 million revolving credit facility and a $20 million term loan facility a ...