Business
MIMEDX Announces First Quarter 2025 Operating and Financial Results
Net Sales of $88 million Grew 4% Year-Over-Year for the First Quarter First Quarter GAAP Net Income and Earnings Per Share were $7 Million and $0.05,
About this update from Mimedx Group, Inc
[{"type":"text","content":"Net Sales of $88 million Grew 4% Year-Over-Year for the First Quarter First Quarter GAAP Net Income and Earnings Per Share were $7 Million and $0.05, Respectively First Quarter Adjusted EBITDA was $17 Million, or 20% of Net Sales Reaffirms Expected 2025 Net Sales Growth Expectations Management to Host Conference Call Today, April 30, 2025, at 4:30 PM ET MARIETTA, Ga., April 30, 2025 (GLOBE NEWSWIRE) -- MiMedx Group, Inc. (Nasdaq: MDXG) (“MIMEDX” or the “Company”), today announced operating and financial results for the first quarter 2025. Joseph H. Capper, MIMEDX Chief Executive Officer, commented, \"Our solid first quarter 2025 results include total net sales growth of 4% year-over-year and an Adjusted EBITDA margin of 20%. Our Surgical products recorded double-digit growth during the quarter, and we are continuing to see our efforts to build a compelling body of clinical evidence in this space unlock sizable opportunities for our products.\" Mr. Capper continued, \"The further delay to the LCDs was a disappointing setback for Medicare beneficiaries, the Trust Fund and US taxpayers. As awareness increases and the new administration comes to understand the circumstances associated with the massive wasteful spend in the skin substitute category, we are confident some corrective action will be taken. We will continue to advocate CMS and other stakeholders for appropriate improvements on both pricing and requirements for clinical data.\" \"To protect our business, we will bridge this gap by offering products designed to compete in these affected care settings. As a contingency, we recently added CELERA™ to our portfolio, and we have a pipeline, both organic and inorganic, of additional products we plan to introduce throughout the year. Over the longer term, our focus remains clearly set on continuing to expand use cases for our proprietary technology and the incredible healing benefits they deliver,\" concluded Mr. Capper. First Quarter 2025 Results Discussion Net Sales MIMEDX reported net sales for the three months ended March 31, 2025, of $88 million, compared to $85 million for the three months ended March 31, 2024, an increase of 4%. The increase was primarily driven by 16% growth of our Surgical products, including AMNIOEFFECT® and contributions from HELIOGEN™. First quarter decline of Wound products was 2% compared to the pri...