Mimedx Group, Inc · NASDAQ:MDXG
Mimedx — Q3 2025 Earnings Presentation
23 slides from Mimedx's earnings presentation, Oct 29, 2025
Slide 1: Investor Presentation
Investor Presentation October 2025
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: A Pioneer and Leader Focused on Helping Humans Heal
A Pioneer and Leader Focused on Helping Humans Heal Our vision is to be the leading global provider of healing solutions through relentless innovation to restore quality of life. Over a decade of experience Leading the industry with Poised to capitalize on favorable helping clinicians manage chronic
Slide 4: The Most Comprehensive End-to-End Product Ecosystem
The Most Comprehensive End-to-End Product Ecosystem New product innovations leading to The most studied untapped opportunities portfolio of placental for growth, including an products with 50+ clinical increasing footprint in & scientific publications the Surgical market. and over 300 million payer
Slide 5: Expansive Donor Network & IP Power Our Product Offering
Expansive Donor Network & IP Power Our Product Offering National Network of Birthing Center Partners Proprietary Processing Backed by Broad Portfolio of Intellectual Property Expectant Mothers Consent for Delivery of Healthy Proprietary Processing & Shelf-Stable, Packaged Product Introduced to Donat
Slide 6: Addressing a Large and Unmet Need for Healing Solutions
Addressing a Large and Unmet Need for Healing Solutions Favorable Demographic Trends Increasing Clinical Evidence Expanding Potential For Products 10+ ~16% Ineffective Wound Management Leads to Poor Outcomes Advances Driving Improved Outcomes for Wound Patients Emerging Opportunities in million peop
Slide 7: The Patient Journey in Wound Care
The Patient Journey in Wound Care Acute Wounds Chronic Wounds Complex Wounds Mohs surgery Burn/Trauma DFU VLU Limb Salvage Dehiscence Assisted Wound …and other Private Home Mobile Nursing Hospital Hospital Living Care care Office Health Health Facility Outpatient Inpatient Facility Clinic settings M
Slide 8: Surgical Studies Underway Highlight Product Versatility
Surgical Studies Underway Highlight Product Versatility… AMNIOEFFECT in EPIFIX in Mohs (HECON) AMNIOFIX in High-Risk Vascular Published May 2025 Complicated Diverticulitis E-Published April 2025 Journal of Drugs in Dermatology Publication Submitted Vascular AMNIOFIX in AMNIOFIX in AMNIOFIX in Liver
Slide 9: And Expand Our Opportunities, While Reducing Health & Economic Burdens
… And Expand Our Opportunities, While Reducing Health & Economic Burdens Anastomotic leaks are a serious postoperative complication of intestinal surgeries, with significant health and economic consequences that burden providers, payors and patients Anastomotic leak consequences include1: AMNIOFIX a
Slide 10: Highlights from Our Expanding Product Portfolio
Highlights from Our Expanding Product Portfolio Innovative Wound Products Growing Surgical Offering Expanding into Xenografts Investor Presentation – October 2025 10
Slide 11: Large Wound Care Business with Growing Surgical Footprint
Large Wound Care Business with Growing Surgical Footprint LTM Wound Performance LTM Sales Mix by Product Type LTM Surgical Performance $300,000 $300,000 +15% $250,000 $250,000 $200,000 $200,000 66% 34% $000s $000s $150,000 $150,000 +15% $100,000 $100,000 $50,000 Wound $50,000 Surgical $0 $0 LTM @ Q3
Slide 12: Financial Highlights
Financial Highlights Quarterly Net Cash Balance $124MM LTM Net Sales LTM GAAP Gross Margin $393MM 82% $100MM +15% year-over-year $86MM $88MM $70MM LTM Adjusted EBITDA1 LTM GAAP Net Income $96MM $41MM 24% of net sales Net Cash Balance LTM Free Cash Flow Q3:24 Q4:24 Q1:25 Q2:25 Q3:25 $124MM $67MM 77%
Slide 13: Final Medicare Rules Expected to Transform Market in 2026
Final Medicare Rules Expected to Transform Market in 2026 Comment Period MIMEDX supports CMS’ approach, but has submitted a few suggestions to refine the methodology Setting the fixed price using other reasonable inputs, resulting in a Setting a higher application fee for providers covered by the PF
Slide 14: Strategic Priorities Position Us to Win in 2025 & Beyond
Strategic Priorities Position Us to Win in 2025 & Beyond 1 2 3 Innovate & Diversify Develop & Deploy Enhance Customer Product Portfolio to Programs to Expand Intimacy Maximize Growth Surgical Footprint EPIEFFECT RCT interim Surgical uptake continues Added new features to MIMEDX report drafted, with
Slide 15: Experienced, Skillful Leadership Team Executing Strategy
Experienced, Skillful Leadership Team Executing Strategy Management Team with Track Record of Success in MedTech Joe Capper Doug Rice Butch Hulse Kim Moller Ricci Whitlow John Harper, Ph.D. Matt Notarianni Chief Executive Chief Financial Chief Administrative Chief Commercial Chief Operating Chief Sc
Slide 16: Conclusion
Conclusion 1 Large & expanding addressable markets, particularly in Surgical 2 Maturing reimbursement & regulatory landscape Competitive advantage with innovative products, defensible IP and 3 proprietary technology 4 Strong & improving financial profile & balance sheet 5 Experienced & skillful lead
Slide 17: Appendix
Appendix Investor Presentation – October 2025 17
Slide 18: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures 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 and Adjusted Net Income. • Adjusted EBITDA consists of GAAP net income excluding: (i) dep
Slide 19: Reconciliation of Non-GAAP Measures (cont.)
Reconciliation of Non-GAAP Measures (cont.) • Each of the adjustments to reconcile Adjusted Net Income to GAAP net income affect individual financial statement captions which are reflected in our consolidated statements of operations, including gross profit. Adjusted Gross Profit is therefore define
Slide 20: Adjusted Gross Profit & Adjusted Gross Profit Margin
Adjusted Gross Profit & Adjusted Gross Profit Margin Three Months Ended Amounts (in millions) September 30, 2025 September 30, 2024 GAAP gross profit $ 95.0 $ 68.7 Amortization of acquisition-related intangible assets 4.6 0.4 Adjusted Gross Profit $ 99.6 $ 69.1 Adjusted Gross Profit Margin 87.6 % 82
Slide 21: Adjusted EBITDA - QTD
Adjusted EBITDA - QTD Amounts (in millions) for the three months ended September 30, 2025 September 30, 2024 Net income $ 16.7 $ 8.1 Depreciation expense 0.6 0.6 Amortization of intangible assets 4.7 0.6 Interest income, net (0.8) (0.3) Income tax provision 6.1 3.5 Stock-based compensation expense 4
Slide 22: Adjusted Net Income and Adjusted EPS - QTD
Adjusted Net Income and Adjusted EPS - QTD Amounts (in millions) for the three months ended September 30, 2025 September 30, 2024 Net income - GAAP $ 16.7 $ 8.1 Amortization of acquisition-related intangible assets 4.6 0.4 Strategic legal and regulatory expenses 2.5 1.0 Disbanding of Regenerative Me
Slide 23: Free Cash Flow
Free Cash Flow Three months ended Amounts in millions September 30, 2025 September 30, 2024 Cash flows from operating activities $ 29.3 $ 19.6 Purchases of equipment (0.2) (0.2) Free Cash Flow $ 29.1 $ 19.5 Investor Presentation – October 2025 23