Mimedx Group, Inc · NASDAQ:MDXG
Mimedx — Investor Presentation (September 2023)
21 slides from Mimedx's investor presentation, Sep 5, 2023
Slide 1: Investor Presentation September 2023 - Helping Humans Heal
Exhibit 99.2 Investor Presentation September 2023 HELPING HUMANS HEAL
Slide 2: Disclaimer & Cautionary Statements
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 forth
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 subject to ris
Slide 4: MIMEDX: Focused on Global Leadership in Healing Solutions
MIMEDX: Focused on Global Leadership in Healing Solutions Unparalleled Expertise Relentless Innovation Increasing Patient Access 15 >15 Years Dedicated to #1 Amniotic New Product Launches Unmatched Clinical Over 300 Million Targeted International Innovation in Wound Care Skin Substitute* Creating Ne
Slide 5: Large Placental Donation Network & Proprietary Tissue Processing Technology
Large Placental Donation Network & Proprietary Tissue Processing Technology Placental Donation Network Proprietary Processing 5 1 2 3 4 6 7 Expectant Mom Mom Consents to Delivery of Healthy Donated Placental Microbiological Proprietary Shelf-stable Introduced to Donate and Completes Baby via Tissues
Slide 6: Favorable Demographic Trends & Versatile Product Offering
Favorable Underlying Demographic Trends & Versatile Product Offering Used to Help Wide Ranging Patient Needs Underlying Specialties Using Conditions & Procedures Demographic Trends: MIMEDX Products: That Use MIMEDX Products: Podiatry DFUs High-risk incisions Aging population Aging population Plastic
Slide 7: Sizable Opportunities in Wound & Surgical End Markets
Sizable Opportunities in Wound & Surgical End Markets CAGRs* Total Addressable Markets +9% $3.5B +9% 0.7 Favorable Demographic Trends $2.5B & Increasing Need for $0.5B 1.3 +10% Wound Solutions for Large & Growing $0.9B Patient Population 1.5 +8% $1.1B $268MM MIMEDX 2022 Net Sales 2022 2026E U.S. Wou
Slide 8: Diversified Business Across Multiple Sites of Service
Diversified Business Across Multiple Sites of Service Proportion of Site of Service Segment Commentary * MIMEDX Sales Hospital Setting (Inpatient & Stable reimbursement settings and growing with expanded ~57% Outpatient) & Wound use of products in surgical applications Care Clinics Regaining share a
Slide 9: Introducing Our New 'Why' Statement & Company Vision
Introducing Our New ‘Why’ Statement & Company Vision Our Why: Helping Humans Heal To be the leading global provider of healing solutions through Our Vision: relentless innovation to restore quality of life 9
Slide 10: Our Strategic Priorities
Our Strategic Priorities Build leadership position in Develop opportunities in Demonstrate corporate Wound & Surgical adjacent markets discipline around expenses • Grow in all sites-of-service• Invest organically and • Accelerating sustainable inorganically in our profitability and cash flow, • Rega
Slide 11: Q2: Summary
Q2: 23 Summary Q2:23 & 1H:23 Net Sales Growth of Nearly 22% Year-Over-Year Q2:23 Gross Margin of 83.3% Q2:23 Adjusted EBITDA of $14 Million (17% of Net Sales) Strong Performance Increased Our Cash Balance by $7.5 Million from Q1:23 to Q2:23 During 1H:23 Continued Roll Out of New Products in the U.S.
Slide 12: Management Team with Track Record of Success in MedTech
Management Team with Track Record of Success in MedTech Doug Rice Joe Capper Ricci Whitlow John Harper, Ph.D. Kim Moller Eric Smith Butch Hulse Kate Surdez Matt Notarianni Chief Financial Chief Executive Chief Operating Chief Technology Officer SVP, Sales SVP, Marketing & Chief Administrative Chief
Slide 13: Conclusion
Conclusion Pioneer in Expanding Large and Committed to field of placental pipeline in growing delivering above- based allografts Wound & market market growth Surgical opportunities and profitability helping humans heal. 13
Slide 14: Appendix
Appendix
Slide 15: Summary Balance Sheets
Summary Balance Sheets 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 ($ millions) Cash and Cash Equivalents 75.7 72.5 73.2 66.0 61.2 68.7 Accounts Receivable, net 37.7 37.7 40.8 43.1 44.7 49.0 Inventory 13.2 13.4 14.0 13.2 14.7 16.8 Other Current Assets 9.3 7.4 8.0 11.9 11.1 6.7 Total Current Assets 135.9 131.0 136
Slide 16: Summary Income Statements
Summary Income Statements 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 ($ millions) Net Sales 58.9 66.9 67.7 74.4 71.7 81.3 Cost of Sales 9.9 11.8 12.2 14.4 12.4 13.6 Gross Profit 49.0 55.1 55.5 60.0 59.3 67.7 Research & Development 6.0 5.5 6.0 5.4 6.5 8.5 Restructuring 0.0 0.0 0.0 0.0 0.0 3.3 Selling, General, an
Slide 17: Summary Cash Flow Statements
Summary Cash Flow Statements ($ millions) 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 Net (Loss) Income (10.5) (10.9) (8.4) (0.4) (5.0) 1.2 Share-Based Compensation 4.0 4.4 2.4 1.9 4.4 4.0 Depreciation 0.9 0.9 0.7 0.8 0.7 0.7 Other Non-Cash Effects 0.6 3.0 1.1 0.6 0.6 3.7 Changes in Assets 0.7 (0.7) (4.7) (5.4) (
Slide 18: Revenue Detail
Revenue Detail Trailing 12 Months ($ millions) 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 2Q22 3Q22 4Q22 1Q23 2Q23 Advanced Wound Care 58.4 66.2 66.8 73.8 71.2 81.2 253.8 258.3 265.2 278.0 293.0 1 / Section 361 1 Section 351 0.4 0.6 0.8 0.6 0.5 0.1 1.9 2.2 2.4 2.5 2.0 2 Other 0.1 0.1 0.1 0.0 0.0 0.0 0.5 0.4 0.3
Slide 19: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 ($ millions) Net cash flows provided by (used (10.2) (3.0) 1.0 (5.6) (4.0) 7.8 in) operating activities Less: Capital Expenditures, (0.1) (0.4) (0.4) (0.7) (0.6) (0.3) including purchases of equipment Free Cash Flow (10.3) (3.4) 0.6 (6.3) (
Slide 20: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation ($ millions) 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 Net (Loss) Income (10.5) (10.9) (8.4) (0.4) (5.0) 1.2 Depreciation & Amortization 1.0 1.0 0.8 1.0 0.9 0.9 Interest Expense 1.1 1.2 1.3 1.5 1.6 1.6 Income Tax 0.1 0.1 0.1 0.1 0.1 (0.1) (8.3) (8.6) (6.1) 2.0 (2.4) 3.6 EBITDA Inv
Slide 21: Segment Data
Segment Data Wound & Surgical ($ millions) 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 Net Sales 58.3 66.1 66.9 73.6 70.6 80.5 Cost of Sales (9.1) (10.8) (11.2) (13.3) (11.3) -12.7 Selling, General and Administrative (34.0) (38.7) (35.5) (37.6) (37.7) -38.5 Expense Research and Development Expense (2.0) (2.4) (1.
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