Mimedx Group, Inc · NASDAQ:MDXG
Mimedx — Q4 2025 Earnings Presentation
17 slides from Mimedx's earnings presentation, Feb 25, 2026
Slide 1: Q4 & FY 2025 Financial Results Conference Call
Q4 & FY 2025 Financial Results Conference Call February 25, 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: Opening Remarks
Opening Remarks Joseph H. Capper, Chief Executive Officer | 3 |
Slide 4: Q4:25 Highlights – Strong Financial Performance for Wound & Surgical
Q4:25 Highlights – Strong Financial Performance for Wound & Surgical 1) Adjusted Gross Margin and Adjusted EBITDA and related margins are non-GAAP financial measures. See the Appendix for a reconciliation to the nearest GAAP measure. | 4 | Wound & Surgical 25%+ Growth vs. Q4:24 Adj. Gross Margin 86%
Slide 5: Strategic Priority Focus on Continued Product Innovation & Diversification
Strategic Priority Focus on Continued Product Innovation & Diversification | 5 | Continuing to innovate and evolve our offering for Wound & Surgical Numerous opportunities and areas for expansion Driving higher growth in Surgical Achieving a more balanced business mix between Wound & Surgical 3-year
Slide 6: What We See So Far In Wound in 2026
Private Office & Associated Care Settings ASP +6% plus ~$150 application fee $127.14/sq. cm. fixed rate plus ~$150 application fee 2025 2026 What We See So Far In Wound in 2026 | 6 | Payment Rate Changes In Effect LCDs WISeR Implementation Underway Status of Other Policies Higher audit and clawback
Slide 7: Supporting Our Customers & Diversifying Our Offering While Remaining Unmatched with Data
Despite reimbursement-related noise, • Our Wound franchise remains profitable • We continue to develop products leveraging our expertise • Production of scientific and clinical research validating the safety and efficacy of our products remains one of our core strengths • And we are bringing in comp
Slide 8: The Exciting Momentum in Surgical Continues!
The Exciting Momentum in Surgical Continues! | 8 | Strong Continued Uptake Across Surgical Portfolio and Continuing to Bring Additional New Products to Market Recent Distribution Agreement Significantly Diversifies 510(k) Cleared Product Offering in Surgical
Slide 9: 2026 Outlook – Executing Despite Significant Change in the Marketplace
2026 Outlook – Executing Despite Significant Change in the Marketplace *2026 and Long-Term Outlooks provided as of February 25, 2026. Actual results may differ. | 9 | $340-360MM Mid-to-high teens as a % of net sales 2026 Net Sales* 2026 Adj. EBITDA* Continue to expect to deliver low double-digit net
Slide 10: Financial Results
Financial Results Doug Rice, Chief Financial Officer | 10 |
Slide 11: Q4:25 Net Sales Recap
$32MM $39MM Q4:24 Q4:25 $61MM $79MM Q4:24 Q4:25 Q4:25 Net Sales Recap | 11 | Q4:25 Wound Q4:25 Surgical • Q4:25 growth led by sales of EPIXPRESS & EMERGE despite finalization of PFS and OPPS rules for 2026 Highlights • AMNIOFIX and AMNIOEFFECT continue streak of >20% year over year growth • Strong d
Slide 12: Q4:25 P&L Highlights
Q4:25 P&L Highlights 1) Adjusted Gross Margin, Free Cash Flow, EBITDA, Adjusted EBITDA, Adjusted Net Income and related margins are non-GAAP financial measures. See the Appendix for a reconciliation to the nearest GAAP measure. | 12 | $7MM $11MM $20MM$15MM $20MM $29MM $76 $48MM $13 $4MM $99 $61MM $1
Slide 13: Q4:25 Cash Flows Fuel Growing Net Cash Position; Share Buyback Announced
Q4:25 Cash Flows Fuel Growing Net Cash Position; Share Buyback Announced | 13 | Quarterly Net Cash Balance ($ Millions) $85 $88 $100 $124 $148 Q4:24 Q1:25 Q2:25 Q3:25 Q4:25 Share Buyback EstablishedFree Cash Flows ($ Millions) $25 2022 2023 2024 2025 Q1 thru Q3 Q4 $73 $65 $25 ($19) Provides flexibil
Slide 14: 2025 Full Year Financial Retrospective
2025 Full Year Financial Retrospective | 14 |1) EBITDA, Adjusted EBITDA, related margins and Free Cash Flow are non-GAAP financial measures. See our Earnings Release for the quarter ended December 31, 2025 for a reconciliation to the nearest GAAP measure. $419MM +20% year-over-year $148MM +73% vs. 2
Slide 15: Closing Remarks, Q&A
Closing Remarks, Q&A FL MIMEDX
Slide 16: MIMEDX – A Pioneer & Leader Delivering Healing Solutions in Healthcare
MIMEDX – A Pioneer & Leader Delivering Healing Solutions in Healthcare | 16 | FULLY INTEGRATED BUSINESS from product development to manufacturing to commercialization, including donor recovery EXCELLENT IP PORTFOLIO including over 200 patents, knowhow and regenerative medicine expertise DRAMATICALLY
Slide 17: Thank You
THANK YOU MIMEDX 1775 West Oak Commons Ct. Marietta, GA 30062 888.543.1917 | 770.651.9100 | 17 |