Mimedx Group, Inc · NASDAQ:MDXG
Mimedx — Piper Sandler 33rd Annual Healthcare Conference 2021
18 slides from Mimedx's conference presentation, Nov 22, 2021
Slide 1: Advancing Regenerative Medicine Treatment Through Placental Science
1 ADVANCING REGENERATIVE MEDICINE TREATMENT THROUGH PLACENTAL SCIENCE 2021 Piper Sandler 33rd Annual Healthcare Conference November 2021 EXHIBIT 99.1
Slide 2: Disclaimer & Cautionary Statements
2 DISCLAIMER & CAUTIONARY STATEMENTS This presentation 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 materially from those set for
Slide 3: Disclaimer & Cautionary Statements
3 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 ar
Slide 4: Versatile Platform Propels Near- and Long-Term Growth Strategy
4 VERSATILE PLATFORM PROPELS NEAR- AND LONG-TERM GROWTH STRATEGY Pioneer in advancing amniotic tissue as a platform for regenerative medicine Strong capital position enables investment to sustain growth initiatives Near-Term: Surgical Recovery Mid-Term: International & Portfolio Innovation Long-Term
Slide 5: Strategy Expands Opportunity
5 Current 2022/23 2026+ STRATEGY EXPANDS OPPORTUNITY $1.1B $2.7B $8B+ Participation in large and high-growth markets with significant unmet need Advanced Wound Care Advanced Wound Care Surgical Recovery Japan Advanced Wound Care Surgical Recovery Japan Knee Osteoarthritis + + + + + + Other OUS Sourc
Slide 6: Attractive Near- and Mid-Term Growth
6 ATTRACTIVE NEAR- AND MID-TERM GROWTH Base Business New Products & Markets International Expansion Total Sustainable Double- Digit Growth + + =
Slide 7: Advanced Wound Care Is an Underserved Market with Growth Potential
7 ADVANCED WOUND CARE IS AN UNDERSERVED MARKET WITH GROWTH POTENTIAL $1.1B $1.5B 2021 2026 Realized Market Diabetic foot ulcers Venous leg ulcers Pressure ulcers Complex wounds +7% CAGR Growth Drivers: Aging population Increasing diabetes Increasing obesity Source: BioMed GPS SmartTrak; Management e
Slide 8: Expansion into Surgical Recovery Market Propels Growth
8 EXPANSION INTO SURGICAL RECOVERY MARKET PROPELS GROWTH $0.9B $1.3B 2021 2026 Total Addressable Market +10% CAGR Tissue augmentation Barrier properties Surgical closure Growth Drivers: Aging population Increasing obesity Awareness & penetration Source: BioMed GPS SmartTrak; 3rd party proprietary as
Slide 9: Large Potential as First to Market in Japan with Amniotic Tissue for Wound Treatment
9 LARGE POTENTIAL AS FIRST TO MARKET IN JAPAN WITH AMNIOTIC TISSUE FOR WOUND TREATMENT 126 Million Japan Population (2021) 626,000 Chronic Leg Ulcers (DFU + VLU) 100,000 Serviceable market $0.5B $0.7B 2022 2026 Total Serviceable Market Potential to expand beyond lower extremity wounds Source: Global
Slide 10: MiMedx Offers Unique Value to Customers Across Sites of Care
10 MIMEDX OFFERS UNIQUE VALUE TO CUSTOMERS ACROSS SITES OF CARE Leading Portfolio Clinical Support & Education Proven Outcomes Best-in- Class Sales & Support Proprietary Technology Broad Access and Coverage
Slide 11: MiMedx Is Well Positioned to Achieve Double-Digit Growth
11 MIMEDX IS WELL POSITIONED TO ACHIEVE DOUBLE-DIGIT GROWTH Near-Term Mid-Term Long-Term MIMEDX Investor Day December 7th
Slide 12: Appendix
APPENDIX 2] MIMEDX
Slide 13: Summary Balance Sheets
13 SUMMARY BALANCE SHEETS ($ millions) 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 Assets Cash and Cash Equivalents 69.1 53.5 48.2 109.6 95.8 84.7 85.0 90.6 Accounts Receivable, net 32.3 31.9 30.1 33.0 35.4 35.4 37.2 36.5 Inventory, net 9.1 9.2 10.6 11.0 10.4 11.6 10.1 11.2 Other Current Assets 12.7 21.
Slide 14: Summary Income Statements
14 SUMMARY INCOME STATEMENTS ($ millions) 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 Net Sales 76.4 61.7 53.6 64.3 68.5 60.0 68.2 63.1 Cost of Sales 12.7 10.0 8.2 10.3 10.8 9.7 12.8 10.1 Gross Profit 63.7 51.7 45.4 54.0 57.7 50.3 55.4 53.0 Research & Development 2.7 2.7 2.3 3.4 3.4 4.3 4.1 4.3 Selling,
Slide 15: Summary Cash Flow Statements
15 SUMMARY CASH FLOW STATEMENTS ($ millions) 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 Net Loss (7.5) (4.8) (8.5) (19.4) (16.6) (8.4) (1.8) (2.3) Share-Based Compensation 2.9 3.3 4.4 3.7 3.9 3.2 4.1 3.8 Depreciation 1.6 1.5 1.4 1.5 1.3 1.2 1.3 0.9 Other Non-Cash Effects 1.2 1.2 1.3 9.5 1.7 1.1 0.9 0.6
Slide 16: Revenue Detail
16 REVENUE DETAIL Quarter Trailing 12 Months ($ millions) 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q20 1Q21 2Q21 3Q21 Advanced Wound Care / Section 3611 56.2 48.5 45.8 55.1 59.3 51.5 59.3 62.3 208.7 211.7 225.2 232.4 Section 3511 12.0 8.7 6.1 8.2 8.7 8.2 8.6 0.5 31.7 31.2 33.7 26.0 Adjusted Net Sale
Slide 17: Non-GAAP Metrics Reconciliation
17 NON-GAAP METRICS RECONCILIATION ($ millions) 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 Net Sales – Reported 76.4 61.7 53.6 64.3 68.5 60.0 68.2 63.1 Less: Revenue Transition Impact1 (8.2) (4.5) (1.7) (1.0) (0.5) (0.3) (0.3) (0.3) Adjusted Net Sales 68.2 57.2 51.9 63.3 68.0 59.7 67.9 62.8 Gross Profi
Slide 18: Adjusted EBITDA Reconciliation
18 ADJUSTED EBITDA RECONCILIATION ($ millions) 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 Net Loss (7.5) (4.8) (8.5) (19.4) (16.6) (8.4) (1.8) (2.3) Depreciation & Amortization 1.8 1.8 1.7 1.8 1.6 1.5 1.5 1.1 Interest Expense 2.4 2.4 2.6 1.5 1.5 1.5 1.4 1.0 Loss on Extinguishment of Debt 0.0 0.0 0.0 8.
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