Mimedx Group, Inc · NASDAQ:MDXG
Mimedx — Q3 2026 Earnings Presentation
29 slides from Mimedx's earnings presentation, Oct 28, 2026
Slide 1: Q3 2026 Financial Results Conference Call
Q3 2026 Financial Results Conference Call October 28, 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: Disclaimer: No Offer or Solicitation
Disclaimer No Offer or Solicitation This presentation does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy any securities or a solicitation of any vote or approval with respect to the Transactions or otherwise, nor shall there be any sale, issuance or transfer
Slide 4: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation includes non-GAAP financial measures, including Adjusted EBITDA and related margins, Free Cash Flow, Adjusted Gross Profit, Adjusted Gross Margin, Adjusted Net Income, Adjusted SG&A, Adjusted R&D and Adjusted Earnings Per Share. These measures are not pr
Slide 5: Opening Remarks
Opening Remarks Joseph H. Capper, Chief Executive Officer | 5 |
Slide 6: Highlights
Highlights Q3 2026 —_— MIMEDX
Slide 7: Sanara Transaction Undergoing Additional FTC Review
Sanara Transaction Undergoing Additional FTC Review | 7 | Committed to the deal We remain fully committed to the Sanara combination. We’ll cooperate fully with the FTC to find a resolution as expeditiously as possible, and our strategic and financial rationale for the deal is unchanged. Ready for Da
Slide 8: Q3:26 Operating & Financial Highlights
Q3:26 Operating & Financial Highlights 1) Adjusted EBITDA is a non-GAAP financial measure. See the Appendix for a reconciliation to the nearest GAAP measure. | 8 | Net Sales $62MM Surgical Net Sales +9% vs. Q3:25 Mid-teens % volume growth Business Highlights Favorable court ruling in FDA litigation;
Slide 9: Strategic Priorities
Strategic Priorities Focus on Product Innovation & Market Opportunities | 9 | 01 Continuing to innovate and diversify our portfolio across product platforms 02 Driving higher growth in surgical markets
Slide 10: Surgical Franchise Continues to Post Solid Growth
Surgical Franchise Continues to Post Solid Growth | 10 | UPDATE Surgical volume growth +Mid-teens % Particulate portfolio momentum continues Strong performance, led by HELIOGEN $40MM Surgical net sales 64% of Q3:26 total net sales Growth despite a softer market: Q3 US surgical volumes stayed soft wi
Slide 11: Favorable Federal Court Ruling in FDA Litigation for AXIOFILL
Favorable Federal Court Ruling in FDA Litigation for AXIOFILL® | 11 | 1 The Court vacated FDA’s determination that AXIOFILL is not a Section 361 HCT/P because it is more than minimally manipulated. 2 The Court vacated FDA’s determination that AXIOFILL should be classified as a biological product rat
Slide 12: Wound Care in 2026: Wound Care Center Growth & Overall Consolidation
Wound Care in 2026: Wound Care Center Growth & Overall Consolidation | 12 | Significant reduction in Medicare spend Market consolidation trending back to products with clinical evidence. Audit and claw back activity on the rise. Patient volume slowly migrating from mobile wound practices Mobile prac
Slide 13: Company's First Two 510(k) Submissions in Review
Company’s First Two 510(k) Submissions in Review | 13 | The 510(k) designation is an important step to unlock new markets, applications, coverage and claims that we expect will grow our presence in the operating room. Antimicrobial Xenograft ECM Particulate
Slide 14: Protecting IP Portfolio In and Out of Court
Protecting IP Portfolio In and Out of Court | 14 | Settlement announced today $25M Paid in five equal annual installments of $5M Settlement and license agreement with a wound care competitor resolves patent infringement allegations involving the MIMEDX IP portfolio Other recent wins in active litiga
Slide 15: Financial Results
Financial Results Doug Rice, Chief Financial Officer | 15 |
Slide 16: Q3:26 Net Sales Summary
Q3:26 Net Sales Summary | 16 | UPDATE Net Sales $62MM Net sales by quarter, $MM Net sales by segment Surgical $40MM Wound $22MM $59MM $64MM $62MM Q1:26 Q2:26 Q3:26 64% of total 36% of total
Slide 17: Q3:26 Surgical Net Sales
Q3:26 Surgical Net Sales | 17 | UPDATE Surgical $40MM Highlights • Mid teens Surgical volume growth in Q3:26 • Strong double-digit growth in AMNIOFIX® and AMNIOEFFECT® • Continued growth in Particulate portfolio, led by HELIOGEN • Ramping contributions from G4Derm® Plus Surgical net sales by quarter
Slide 18: Q3:26 Wound Net Sales
Q3:26 Wound Net Sales | 18 | UPDATE Wound $22MM 36% of net sales Highlights • Continued market disruption from the January 1, 2026 Medicare reimbursement reset • 7% sequential growth and over 20% year-over-year growth in Wound Care Center volumes
Slide 19: Q3:26 P&L Summary
Q3:26 P&L Summary 1) Adj. EBITDA, Adj. Net Income and related margins are non-GAAP financial measures. See the Appendix for a reconciliation to the nearest GAAP measure. | 19 | $17 $23 $35 ($9) ($1) $2 $95 $54 $15 $4 $50 $40 $19 $3 Adj. EBITDA & Margin1GAAP Net Income & Margin R&D 47% 64% 3% 4% 15%
Slide 20: Strong Balance Sheet Despite Market Turbulence
Strong Balance Sheet Despite Market Turbulence | 20 | Net Cash Balance Over $100MM For 6 Consecutive Quarters ($ Millions) $100MM $124MM $148MM $142MM $119MM $121MM Q2:25 Q3:25 Q4:25 Q1:26 Q2:26 Q3:26 Net cash, Q3:26 $121MM +$2MM vs. Q2:26 • Above $100MM for 6 consecutive quarters • Up $21MM since Q
Slide 21: Sanara Debt Financing
Sanara Debt Financing | 21 | Committed financing $300MM First-lien senior secured term loan Six-year term Interest initially at Term SOFR plus 6.25% Tied to closing Commitment is contingent on the acquisition closing Funds cash consideration Together with cash on hand, proceeds fund the cash portion
Slide 22: 2026 Outlook
2026 Outlook *2026 Outlook provided as of October 28, 2026. Actual results may differ. | 22 | 2026 Net Sales* $250–260MM Q4:26 Adj. EBITDA* Up Sequentially vs. Q3:26
Slide 23: Closing Remarks, Q&A
Closing Remarks, Q&A ———~ MIMEDX
Slide 24: Thank You
THANK YOU MIMEDX 1775 West Oak Commons Ct. Marietta, GA 30062 888.543.1917 | 770.651.9100 | 24 |
Slide 25: Appendix
Appendix a MIMEDX
Slide 26: Adjusted EBITDA - QTD
Adjusted EBITDA - QTD | 26 | Amounts (in millions) for the three months ended September 30, 2026 2025 Net income - GAAP $ (8.7) $ 16.7 Strategic legal and regulatory expenses 5.7 2.5 Acquisition and other transaction-related costs 3.3 0.2 Stock-based compensation expense 3.2 4.9 Amortization of inta
Slide 27: Adjusted EBITDA - YTD
Adjusted EBITDA - YTD | 27 | Amounts (in millions) for the nine months ended September 30, 2026 2025 Net income - GAAP $ (34.4) $ 33.4 Strategic legal and regulatory expenses 14.1 6.7 Reorganization expenses 3.8 0.8 Acquisition and other transaction-related costs 3.4 0.8 Amortization of intangible a
Slide 28: Adjusted Net Income and Adjusted EPS - QTD
Adjusted Net Income and Adjusted EPS - QTD | 28 | Amounts (in millions) for the three months ended September 30, 2026 2025 Net income - GAAP $ (8.7) $ 16.7 Strategic legal & regulatory expenses 5.7 2.5 Acquisition and other transaction-related costs 3.3 0.2 Amortization of acquired intangible assets
Slide 29: Adjusted Net Income and Adjusted EPS - YTD
Adjusted Net Income and Adjusted EPS - YTD | 29 | Amounts (in millions) for the nine months ended September 30, 2026 2025 Net income - GAAP $ (34.4) $ 33.4 Strategic legal & regulatory expenses 14.1 6.7 Reorganization expenses 3.8 0.8 Acquisition and other transaction-related costs 3.4 0.8 Amortizat