Mimedx Group, Inc · NASDAQ:MDXG
Mimedx — Q1 2026 Earnings Presentation
31 slides from Mimedx's earnings presentation, Apr 29, 2026
Slide 1: Investor Presentation April 2026
Investor Presentation April 2026
Slide 2: Disclaimer & Cautionary Statements
Disclaimer & Cautionary Statements This presentation and our earnings call 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 materiall
Slide 3: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures | 3 | In addition to our GAAP results, we provide certain non-GAAP measures including Adjusted EBITDA, related margins, Free Cash Flow, Adjusted Gross Profit, Adjusted Gross Margin, Adjusted Net Income and Adjusted EPS. • Adjusted EBITDA consists of GAAP net incom
Slide 4: Investment Rationale
Investment Rationale | 4 | Addressing large & expanding Surgical markets and continuing a legacy of leadership in Wound Attractive opportunities to expand growth through M&A Key competitive advantages with innovative products, extensive IP, proprietary technologies and expansive sales infrastructure
Slide 5: MIMEDX – A Pioneer & Leader Delivering Healing Solutions in Healthcare
MIMEDX – A Pioneer & Leader Delivering Healing Solutions in Healthcare | 5 | At MIMEDX, our vision is to be the leading global provider of healing solutions through relentless innovation to restore quality of life. EXPANDING SURGICAL FOOTPRINT as we demonstrate positive clinical and economic outcome
Slide 6: Addressing a Large and Unmet Need for Wound Healing Solutions
Addressing a Large and Unmet Need for Wound Healing Solutions 1 - Sen CK, et al. Human Wound and Its Burden: Updated 2025 Compendium of Estimates. Adv Wound Care (New Rochelle). 2025; doi: 10.1177/21621918251359554 2 - Tettelbach WH, et al. Cost-effectiveness of dehydrated human amnion/chorion membr
Slide 7: With Enormous Untapped Potential for MIMEDX Surgical Products
With Enormous Untapped Potential for MIMEDX Surgical Products | 7 | 0 5,000 10,000 15,000 20,000 25,000 30,000 Plastic & Derm General Surgery Urology Orthopedics OB/GYN ENT Cardiac Neuro Spine Vascular Other 000s Significant opportunity for MIMEDX products to be used across disciplines Annual # of S
Slide 8: Forging into Several Subspecialties with Our Surgical Portfolio
Forging into Several Subspecialties with Our Surgical Portfolio Opportunities across a range of procedures and subspecialties | 8 |
Slide 9: Surgical Studies Underway Highlight Product Versatility
Surgical Studies Underway Highlight Product Versatility | 9 | Generating Clinical Data in Numerous Surgical Disciplines Incorporating Use of MIMEDX Products AMNIOEFFECT in High-Risk Vascular Published April 2026 Vascular Published May 2025 Journal of Drugs in Dermatology EPIFIX in Mohs (HECON) E-Pub
Slide 10: Targeting Applications That Reduce Health & Economic Burdens
Increased Morbidity & Mortality Increased Hospitalization Costs Increased Reoperation Rate Reduced Quality of Life Extended Length of Stay Increased Readmission Rates The Consequences: Anastomotic leak complications include1: Targeting Applications That Reduce Health & Economic Burdens Compelling Da
Slide 11: Over a Decade and a Half Supporting the Patient Journey in Wound Care
Over a Decade and a Half Supporting the Patient Journey in Wound Care MIMEDX Wound products are available throughout the continuum of care… | 11 | Mohs surgery Burn/Trauma DFU VLU Limb Salvage Dehiscence Acute Wounds Chronic Wounds Complex Wounds Private Offices Nursing Facilities Wound Care Clinics
Slide 12: The Most Comprehensive End-To-End Product Ecosystem
The Most Comprehensive End-To-End Product Ecosystem Leading the field with science, clinical efficacy and a customer and patient-centric go-to-market mindset | 12 | The most studied portfolio of placental products with a growing compendium of published scientific, clinical and health outcome data La
Slide 13: Unmatched peer-reviewed published evidence supporting our product portfolio
The Most Comprehensive End-To-End Product Ecosystem Unmatched peer-reviewed published evidence supporting our product portfolio | 13 | The most studied portfolio of placental products with a growing compendium of published scientific, clinical and health outcome data Broadest commercial payor covera
Slide 14: National footprint with labor and delivery centers to obtain placental tissue
The Most Comprehensive End-To-End Product Ecosystem National footprint with labor and delivery centers to obtain placental tissue | 14 | Consent for Donation Obtained Delivery of Healthy Baby via Caesarean Section Donated Placental Tissues Recovered Tissues Transported to MIMEDX National Network of
Slide 15: Leveraging robust IP portfolio, knowhow and expertise to drive innovation
The Most Comprehensive End-To-End Product Ecosystem Leveraging robust IP portfolio, knowhow and expertise to drive continued innovations for Wound & Surgical markets | 15 | New product innovations leading to untapped opportunities for growth, including an increasing footprint in the Surgical market.
Slide 16: MIMEDX Connect practice management tools
The Most Comprehensive End-To-End Product Ecosystem MIMEDX Connect offers a full suite of practice management tools in a single online portal to help customers simplify workflows, maximize efficiency and increase lifetime value of each customer | 16 | A key partner to healthcare professionals with i
Slide 17: Distribution Agreements Significantly Diversify Wound & Surgical Offering
Distribution Agreements Significantly Diversify Wound & Surgical Offering | 17 | In the last year, we have added several adjacent products to our Wound & Surgical portfolio through distribution and co-promote agreements, including:
Slide 18: Growing Surgical Footprint Diversifies & Differentiates Our Business
Growing Surgical Footprint Diversifies & Differentiates Our Business | 18 | Surgical Revenue Drivers • Ongoing clinical efficacy and health outcomes studies demonstrating the benefits of MIMEDX products across a range of surgery types • Inorganic expansion opportunities to broaden our product offeri
Slide 19: Wound Results Driven by Market Dynamics; Poised to Capitalize in '26 & Beyond
Wound Results Driven by Market Dynamics; Poised to Capitalize in ‘26 & Beyond | 19 | $0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $0 00 s Wound Performance 2023 2024 2025 LTM @ Q1:26 LTM Wound % of Sales Wound Revenue Drivers • Volume share recapture opportunity driven by Medicare reimbur
Slide 20: Financial Highlights
Financial Highlights LTM = last twelve months as of March 31, 2026 1) EBITDA, Adjusted EBITDA, related margins and Free Cash Flow are non-GAAP financial measures. See our Earnings Releases for the quarter and year ended March 31, 2026 and December 31, 2025 for reconciliations to the nearest GAAP mea
Slide 21: CMS Reform Causing Chaos for Wound Care Patients Thus Far in 2026
• Meaningful reduction in Medicare spend, due to new payment rate significantly below prior levels and softer demand as providers and patients navigate the new framework. • Patient volume and larger wounds shifting from mobile and home-based care settings back to HOPD & Wound Care Centers, which ben
Slide 22: After Slow Start to 2026, Promising Signs of Recovery in Wound
After Slow Start to 2026, Promising Signs of Recovery in Wound | 22 | Higher audit and clawback activity Providers adjusting to prior auth requirements in WISeR states Some manufacturers dumping products at very low prices Some providers have completely shut down Market Dynamics in Early 2026 Early
Slide 23: Strategic Priority Focus on Continued Product Innovation & Diversification
Strategic Priority Focus on Continued Product Innovation & Diversification | 23 | Continuing to innovate and evolve our offering for Surgical & Wound Numerous opportunities and areas for expansion Driving higher growth in Surgical Achieving a more balanced business mix between Wound & Surgical
Slide 24: Experienced, Skillful Leadership Team Executing Strategy
Experienced, Skillful Leadership Team Executing Strategy Prior Roles Include: Management Team with Track Record of Success in MedTech Joe Capper Chief Executive Officer Doug Rice Chief Financial Officer Butch Hulse Chief Administrative Officer & General Counsel Kim Moller Chief Commercial Officer Jo
Slide 25: Summary
Summary | 25 | Addressing large & expanding markets Attractive opportunities to expand growth Key competitive advantages Strong balance sheet and cash flow generation Experienced leadership team
Slide 26: Thank You
THANK YOU MIMEDX 1775 West Oak Commons Ct. Marietta, GA 30062 888.543.1917 | 770.651.9100 | 26 |
Slide 27: Appendix
Appendix mS MIMEDX
Slide 28: Adjusted EBITDA - QTD
Adjusted EBITDA - QTD | 28 | Amounts (in millions) for the three months ended March 31, 2026 March 31, 2025 GAAP net (loss) income $ (10.9) $ 7.0 Strategic legal and regulatory expenses 4.6 1.6 Amortization of intangible assets 1.1 2.6 Depreciation expense 0.5 0.6 Transaction-related expenses 0.2 —
Slide 29: Adjusted Net Income and Adjusted EPS - QTD
Adjusted Net Income and Adjusted EPS - QTD | 29 | Amounts (in millions) for the three months ended March 31, 2026 March 31, 2025 GAAP net (loss) income $ (10.9) $ 7.0 Strategic legal and regulatory expenses 4.6 1.6 Amortization of acquisition-related intangible assets 0.8 2.5 Transaction-related exp
Slide 30: Adjusted Gross Profit and Adjusted Gross Profit Margin - QTD
Adjusted Gross Profit and Adjusted Gross Profit Margin - QTD | 30 | Three Months Ended Amounts (in millions) March 31, 2026 March 31, 2025 GAAP gross profit $ 41.6 $ 71.6 Amortization of acquisition-related intangible assets 0.8 2.5 Adjusted Gross Profit $ 42.4 $ 74.1 Adjusted Gross Profit Margin 71
Slide 31: Free Cash Flow - QTD
Free Cash Flow - QTD | 31 | Three months ended Amounts in millions March 31, 2026 March 31, 2025 Cash flows from operating activities $ 1.9 $ 5.3 Purchases of equipment (0.6) (0.4) Free Cash Flow $ 1.3 $ 4.9