Mimedx Group, Inc · NASDAQ:MDXG
Mimedx — Investor Presentation (January 2023)
25 slides from Mimedx's investor presentation, Jan 9, 2023
Slide 1: Investor Presentation January 2023
Investor Presentation January 2023 Exhibit 99.1
Slide 2: Disclaimer & Cautionary Statements
Disclaimer & Cautionary Statements Some of the information and statements contained in this presentation and certain oral statements made from time to time by representatives of MIMEDX constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995
Slide 3: Disclaimer & Cautionary Statements
Disclaimer & Cautionary Statements Additional forward-looking statements may be identified by words such as "believe," "expect," "may," "plan," "potential," "will," "preliminary," and similar expressions, and are based on management's current beliefs and expectations. Forward-looking statements are
Slide 4: Leading Developer & Distributor of Placental-Based Allografts (PBAs)
Leading Developer & Distributor of Placental-Based Allografts (PBAs) *BiomedGPs – SmartTrak YTD June 2022. Accessed November 10,2022. https://www.smarttrak.com. **Through both direct and consignment shipments. 200+ Issued Patents Globally (70+ Pending) #1 Amniotic Skin Substitute* Over 300,000,000 P
Slide 5: Large Placental Donation Network & Proprietary Tissue Processing Technology
Large Placental Donation Network & Proprietary Tissue Processing Technology 1 2 3 4 5 6 7 Expectant Mom Introduced to Donation Program Mom Consents to Donate and Completes FDA Donor Screening Assessment Delivery of Healthy Baby via Caesarean Section in the US Microbiological & Viral Testing of Donor
Slide 6: Expanding from Single to Dual Vertical Company
Expanding from Single to Dual Vertical Company Best-in-Class Wound Product Portfolio Underlying Demographic Trends: Aging population Increasing diabetes Increasing obesity Helps Physicians Address Multiple Conditions, Including: Diabetic Foot Ulcers (DFUs) & Venous Leg Ulcers (VLUs) Complex Wounds S
Slide 7: Versatile Product Offering Used to Help Wide Ranging Patient Needs
Versatile Product Offering Used to Help Wide Ranging Patient Needs Conditions & Procedures That Use MIMEDX Products: Podiatry Plastic Reconstructive Dermatology Vascular Orthopedic General Surgery Colon and Rectal Gynecology DFUs VLUs Decubitus ulcers Post-debridement Complex defects Limb salvage Mo
Slide 8: U.S. Business Diversified Across Multiple Sites of Service
U.S. Business Diversified Across Multiple Sites of Service Site of Service Proportion of Sales Recent Performance & Segment Commentary Hospital Setting (Inpatient & Outpatient) & Wound Care Clinics ~61% Stable reimbursement settings and growing with expanded use of products in surgical applications
Slide 9: Changes to CMS Physician Office Reimbursement are Needed
Changes to CMS Physician Office Reimbursement are Needed Skin Substitute Products Previously NOT on ASP List have Led to Explosion of Medicare Allowed Charges Non-ASP List Skin Substitute Sales Growth Led by Increased Use of Financial Incentives Significant Potential Savings for Medicare by Transiti
Slide 10: Japan Launch Underway
Japan Launch Underway Approved for hard-to-heal chronic wounds, including DFUs and VLUs Reimbursement of JPY35,100/cm2 secured Ongoing Key Opinion Leader engagement and physician training First patients treated in Q3:22 EPIFIX distributed by Gunze Medical Japan represents attractive international op
Slide 11: Opportunity in Large & Growing Wound & Surgical End Markets
Opportunity in Large & Growing Wound & Surgical End Markets *CAGRs are the estimated cumulative annual growth rates for the period January 1, 2022 through December 31, 2026 BioMed GPS SmartTrak; 3rd party proprietary assessment; GlobalData Tissue Engineered-Skin Sub Data Model Wound Management Year
Slide 12: Continuing to Innovate to Expand Wound & Surgical Portfolio Opportunities
Launched in Q3:22 Launched in Q3:22 Continuing to Innovate to Expand Wound & Surgical Portfolio Opportunities Birth Tissue Biology Tissue Handling and Processing Healing and Inflammatory Cascade Science Clinical Trial Design and Execution In-house Infrastructure and Leading Partnerships R&D Expertis
Slide 13: Accelerating Wound & Surgical Pipeline via In-Licensing & Distribution
Accelerating Wound & Surgical Pipeline via In-Licensing & Distribution Allows MIMEDX to leapfrog into the next generation of biologics for the Company’s Wound & Surgical business Accelerates development & launch timelines to market of new amniotic tissue and particulate products with antimicrobial p
Slide 14: Regenerative Medicine: Readying First Registrational Knee Osteoarthritis Trial
Regenerative Medicine Readying First Registrational Knee Osteoarthritis (KOA) Trial for Enrollment in Early 2023 *Western Ontario and McMaster Universities (WOMAC) Osteoarthritis Index Proposed Registrational Post-Phase 2b KOA Study Design Highlights Expected enrollment: ~470 patients Co-primary end
Slide 15: Four Key Priorities / Goals
Four Key Priorities / Goals Grow Revenue Above Market Expand Operating Margins Exercise Financial Discipline Execute on R&D Pipeline 1 2 3 4 Organization focused on capitalizing on these opportunities
Slide 16: Reaffirms Q4:22 & Full-Year 2022 Net Sales Outlook
Reaffirms Q4:22 & Full-Year 2022 Net Sales Outlook* Net Sales Prior Outlook Q4:22 $73 Million to $76 Million Full Year 2022 $266 Million to $269 Million Q4:22 and Full-Year 2022 Net Sales expectations unchanged from prior outlook, provided during Q3:22 conference call Continued contributions from ne
Slide 17: Conclusion
Conclusion Pioneer in field of PBAs Large and expanding market opportunities Promising pipeline with significant potential opportunity in KOA Committed to delivering above-market growth and profitability a pioneer & leader in placental biologics
Slide 18: Appendix
Appendix MIMEDX cl
Slide 19: Summary Balance Sheets
y Summary Balance Sheets ($ millions) Q3:20 Q4:20 Q1:21 Q2:21 Q3:21 Q4:21 Q1:22 Q2:22 Q3:22 Assets Cash and Cash Equivalents $109.6 $95.8 $84.7 $85.0 $90.6 $87.1 $75.7 $72.5 $73.2 Accounts Receivable, net 33.0 35.4 35.4 37.2 36.5 40.4 37.7 37.7 40.8 Inventory 11.0 10.4 11.6 10.1 11.2 11.4 13.2 13.4
Slide 20: Summary Income Statements
Summary Income Statements ($ millions) Q3:20 Q4:20 Q1:21 Q2:21 Q3:21 Q4:21 Q1:22 Q2:22 Q3:22 Net Sales $64.3 $68.6 $60.0 $68.2 $63.1 $67.4 $58.9 $66.9 $67.7 Cost of Sales 10.3 10.8 9.7 12.8 10.1 10.8 9.9 11.8 12.2 Gross Profit $54.0 $57.8 $50.3 $55.4 $53.0 $56.6 $49.0 $55.1 $55.5 Research & Developm
Slide 21: Summary Cash Flow Statements
Summary Cash Flow Statements ($ millions) Q3:20 Q4:20 Q1:21 Q2:21 Q3:21 Q4:21 Q1:22 Q2:22 Q3:22 Net (Loss) Income ($19.4) ($16.6) ($8.4) ($1.8) ($2.3) $2.2 ($10.5) ($10.9) ($8.4) Share-Based Compensation 3.7 3.9 3.2 4.1 3.8 3.6 4.0 4.4 2.4 Depreciation 1.5 1.3 1.2 1.3 0.9 1.0 0.9 0.9 0.7 Other Non-C
Slide 22: Quarterly & Trailing Twelve Month Revenue Detail
Quarterly & Trailing Twelve Month Revenue Detail (1) Section 361 includes Tissue + Cord sales. Section 351 includes Micronized + Particulate sales. (2) Other includes cash collected related to the remaining contracts. For a discussion of the revenue transition and the defined terms, refer to Item 8,
Slide 23: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation (1) Adjusted EBITDA consists of GAAP net loss excluding: (i) depreciation, (ii) amortization of intangibles, (iii) interest expense, (iv) loss on extinguishment of debt, (v) income tax provision, (vi) costs incurred in connection with Audit Committee Investigation, Res
Slide 24: Non-GAAP Metrics Reconciliation
Non-GAAP Metrics Reconciliation (1) Impact of revenue transition includes cash collected related to the remaining contracts. For a discussion of the revenue transition and the defined terms, refer to Item 8, Notes to the Consolidated Financial Statements in the MiMedx Group, Inc. Form 10-K for the y
Slide 25: Segment Data
Segment Data Regenerative Medicine Wound & Surgical ($ millions) Q1:21 Q2:21 Q3:21 Q4:21 Q1:22 Q2:22 Q3:22 Net Sales $51.4 $58.9 $62.1 $66.5 $58.3 $66.1 $66.9 Cost of Sales (7.2) (9.5) (8.9) (9.6) (9.1) (10.8) (11.2) Selling, General and Administrative Expense (25.8) (29.5) (32.1) (36.2) (34.0) (38.