Mimedx Group, Inc · NASDAQ:MDXG
Mimedx — Investor Presentation (November 2023)
20 slides from Mimedx's investor presentation, Nov 13, 2023
Slide 1: Investor Presentation November 2023
Exhibit 99.2 Investor Presentation November 2023 H E L P I N G H U M A N S H E A L
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 Helping To be the leading global provider of Our Why Our healing solutions through relentless Humans Statement Vision innovation to restore quality of life. Heal Unparalleled Expertise Relentless Innovation Increasing Patient Access 15 >15 Ye
Slide 5: The Unmet Need for Healing Solutions Is Large and Growing
The Unmet Need for Healing Solutions Is Large and Growing million people are estimated to suffer from chronic, non-healing 7 1 wounds in the U.S. • Aging population• Obesity Favorable • Smoking history • Heart & vascular disease Demographic Trends • Diabetes • Millions of surgical procedures annuall
Slide 6: Patient Journeys in Wound & Surgical
Patient Journeys in Wound & Surgical Meeting patients in settings where they receive care to drive continued adoption of MIMEDX’s products Wound Types Sites-of-Service Complex/Dehisced Hospital Inpatient Wounds Chronic Wounds Wound Care Centers Surgical Acute Wounds Private Office 6 S e v e r i t y
Slide 7: Broad Portfolio + Sizable Opportunities in Wound & Surgical Markets
Broad Portfolio + Sizable Opportunities in Wound & Surgical Markets Best-in-Class Wound Product Portfolio CAGRs* Total Addressable Markets +9% $3.5B $0.7B +9% $2.5B $0.5B $1.3B +10% Expanding Offering for Surgical Market $0.9B $1.5B +8% $1.1B $309MM MIMEDX LTM Net Sales** 2022 2026E U.S. Wound U.S.
Slide 8: 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 9: Diversified Business Across Multiple Sites of Service
Diversified Business Across Multiple Sites of Service Site of Service Segment Commentary Hospital Setting Stable reimbursement (Inpatient & settings and growing with Outpatient) & expanded use of products in Wound Care surgical applications Clinics Growth in setting remains strong, despite recent Me
Slide 10: CMS Continuing to Evaluate Changes to Physician Office Reimbursement
CMS Continuing to Evaluate Changes to Physician Office Reimbursement MIMEDX Remains Uniquely Positioned to Benefit from Potential Changes in Physician Office Setting 1 2 Skin Substitute Products – Medicare Allowed Charges Skin Substitute Products on Medicare ASP List $1,000,000,000 80 100% March 202
Slide 11: Our Strategic Priorities
Our Strategic Priorities Build leadership position Develop opportunities Demonstrate corporate in Wound & Surgical in adjacent markets discipline around expenses • Grow in all sites-of-service• Invest organically and • Drive sustainable inorganically in our profitability and cash flow • Regain share
Slide 12: Q3:23 Highlights
Q3:23 Highlights Net Sales Gross Margin Net Income $81.7MM 81.9% $8.5MM Collaboration +20.7% year-over-year Free Cash Flow Adjusted EBITDA Cash $11.7MM $17.6MM $81.2MM 21.6% of net sales 12
Slide 13: Management Team with Track Record of Success in MedTech
Management Team with Track Record of Success in MedTech Doug Rice Joe Capper Ricci Whitlow John Harper, Ph.D. Kim Moller Eric Smith Butch Hulse Kate Surdez Matt Notarianni Chief Financial Chief Executive Chief Operating Chief Scientific Officer & SVP, Sales SVP, Marketing & Chief Administrative Chie
Slide 14: Conclusion
Conclusion Pioneer in Expanding Large and Committed to field of placental growing market pipeline in delivering above- based allografts Wound & opportunities market growth Surgical and profitability helping humans heal. 14
Slide 15: Appendix
Appendix
Slide 16: Summary Balance Sheets
Summary Balance Sheets ($ millions) Q2:22 Q3:22 Q4:22 Q1:23 Q2:23 Q3:23 Assets Cash and Cash Equivalents $ 72.5 $ 73.2 $ 66.0 $ 61.2 $ 68.7 $ 81.2 Accounts Receivable, Net 37.7 40.8 43.1 44.7 49.0 49.0 Inventory 13.4 14.0 13.2 14.7 16.8 19.1 11.1 Other Current Assets 7.5 8.0 12.0 6.8 5.3 Total Curre
Slide 17: Summary Income Statements
Summary Income Statements ($ millions) Q2:22 Q3:22 Q4:22 Q1:23 Q2:23 Q3:23 Net Sales $ 66.9 $ 67.7 $ 74.4 $ 71.7 $ 81.3 $ 81.7 Cost of Sales 11.8 12.2 14.4 12.4 13.6 14.8 Gross Profit 55.1 55.5 60.0 59.3 67.7 66.9 Research and development 5.5 6.0 5.4 6.5 8.5 3.2 Restructuring— — — — 3.3 0.2 Selling,
Slide 18: Summary Cash Flow Statements
Summary Cash Flow Statements ($ millions) Q2:22 Q3:22 Q4:22 Q1:23 Q2:23 Q3:23 Net (Loss) Income $ (10.9) $ (8.4) $ (0.4) $ (5.0) $ 1.2 $ 8.5 Share-Based Compensation 4.4 2.4 1.9 4.3 4.1 4.4 Depreciation 0.9 0.8 0.8 0.7 0.7 0.7 Other Non-Cash Effects 3.0 1.1 0.6 0.6 3.7 0.9 (1.1) Changes in Assets (0
Slide 19: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation ($ millions) Q2:22 Q3:22 Q4:22 Q1:23 Q2:23 Q3:23 Net Cash Flows Provided By (Used In) Operating Activities $ (3.0) $ 1.0 $ (5.6) $ (4.0) $ 7.8 $ 12.8 Less: Capital Expenditures, Including Purchases of Equipment (0.4) (0.3) (0.7) (0.6) (0.3) (0.6) Free Cash Flow $ (3.4)
Slide 20: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation ($ millions) Q2:22 Q3:22 Q4:22 Q1:23 Q2:23 Q3:23 Net (Loss) Income $ (10.9) $ (8.4) $ (0.4) $ (5.0) $ 1.2 $ 8.5 Depreciation & Amortization 1.0 1.0 1.0 0.9 0.9 0.8 Interest Expense, Net 1.2 1.3 1.5 1.6 1.6 1.7 Income Tax Provision Expense (Benefit) 0.1 0.1 — 0.1 (0.1)