Mimedx Group, Inc · NASDAQ:MDXG
Mimedx — Q1 2026 Earnings Presentation
20 slides from Mimedx's earnings presentation, Apr 29, 2026
Slide 1: Q1:26 Financial Results Conference Call
Q1:26 Financial Results Conference Call April 29, 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: Opening Remarks
Opening Remarks Joseph H. Capper, Chief Executive Officer | 3 |
Slide 4: Q1:26 Recap – Wound Volatility Overshadows Strong Surgical Performance
Q1:26 Recap – Wound Volatility Overshadows Strong Surgical Performance 1) Adjusted Gross Margin and Adjusted EBITDA and related margins are non-GAAP financial measures. See the Appendix for a reconciliation to the nearest GAAP measure. | 4 | Surgical 13% Growth vs. Q1:25 Adj. Gross Margin1 72% GAAP
Slide 5: Strategic Priority Focus on Continued Product Innovation & Diversification
Strategic Priority Focus on Continued Product Innovation & Diversification | 5 | Continuing to innovate and evolve our offering for Wound & Surgical Numerous opportunities and areas for expansion Driving higher growth in Surgical Achieving a more balanced business mix between Wound & Surgical
Slide 6: CMS Reform Causing Chaos for Wound Care Patients Thus Far in 2026
• Meaningful reduction in Medicare spend, due to new payment rate significantly below prior levels and softer demand as providers and patients navigate the new framework. • Patient volume and larger wounds shifting from mobile and home-based care settings back to HOPD & Wound Care Centers, which ben
Slide 7: The Exciting Momentum in Surgical Continues!
The Exciting Momentum in Surgical Continues! | 7 | Strong Continued Uptake Across Surgical Portfolio and Continuing to Bring Additional New Products to Market Recent Distribution Agreement Significantly Diversifies Our 510(k) Cleared Product Offering in Surgical
Slide 8: Supporting Our Customers & Diversifying Our Offering While Remaining Unmatched with Data
Supporting Our Customers & Diversifying Our Offering While Remaining Unmatched with Data | 8 | Randomized Controlled Trial Enrollment Nearly Complete Randomized Controlled Trial Underway Soon Growing Collection of Published Scientific Research Continuing to Build Clinical Efficacy & Expand Portfolio
Slide 9: Financial Results
Financial Results Doug Rice, Chief Financial Officer | 9 |
Slide 10: Q1:26 Net Sales Recap
$32MM $36MM Q1:25 Q1:26 $56MM $23MM Q1:25 Q1:26 Q1:26 Net Sales Recap | 10 | Q1:26 Wound Q1:26 Surgical • Impact from Medicare reimbursement reform on Jan. 1, inconsistent behavior from MACs and WISeR rollout negatively impacted Wound in Q1:26 Highlights • AMNIOFIX, AMNIOEFFECT and particulate portf
Slide 11: Q1:26 P&L Summary
Q1:26 P&L Summary 1) Adjusted Gross Margin, Adjusted EBITDA, Adjusted Net Income and related margins are non-GAAP financial measures. See the Appendix for a reconciliation to the nearest GAAP measure. | 11 | $7MM $10MM $17MM ($11MM) ($7MM) ($12MM) $72 $47MM $13 $3MM $42 $44MM $9 $4MM Q1:25 Q1:26 S&M
Slide 12: Strong Balance Sheet Continues to Provide Meaningful Optionality
Strong Balance Sheet Continues to Provide Meaningful Optionality | 12 | Quarterly Net Cash Balance ($ Millions) $86 $88 $100 $124 $148 $142 Q4:24 Q1:25 Q2:25 Q3:25 Q4:25 Q1:26 Share Buyback Established Continue to prioritize growth investments as primary use of capital, but intend to implement a pro
Slide 13: 2026 Outlook – Transition Year as Wound Market Re-Sets
2026 Outlook – Transition Year as Wound Market Re-Sets *2026 and Long-Term Outlooks provided as of April 29, 2026. Actual results may differ. | 13 | $260-290MM Approximately Breakeven 2026 Net Sales* 2026 Adj. EBITDA* Continue to expect to deliver low double-digit net sales growth and a 20%+ Adjuste
Slide 14: Closing Remarks, Q&A
Closing Remarks, Q&A ———~ MIMEDX
Slide 15: Thank You
THANK YOU MIMEDX 1775 West Oak Commons Ct. Marietta, GA 30062 888.543.1917 | 770.651.9100 | 15 |
Slide 16: Appendix
Appendix a MIMEDX
Slide 17: Adjusted EBITDA - QTD
Adjusted EBITDA - QTD | 17 | Amounts (in millions) for the three months ended March 31, 2026 March 31, 2025 GAAP net (loss) income $ (10.9) $ 7.0 Strategic legal and regulatory expenses 4.6 1.6 Amortization of intangible assets 1.1 2.6 Depreciation expense 0.5 0.6 Transaction-related expenses 0.2 —
Slide 18: Adjusted Net Income and Adjusted EPS - QTD
Adjusted Net Income and Adjusted EPS - QTD | 18 | Amounts (in millions) for the three months ended March 31, 2026 March 31, 2025 GAAP net (loss) income $ (10.9) $ 7.0 Strategic legal and regulatory expenses 4.6 1.6 Amortization of acquisition-related intangible assets 0.8 2.5 Transaction-related exp
Slide 19: Adjusted Gross Profit and Adjusted Gross Profit Margin - QTD
Adjusted Gross Profit and Adjusted Gross Profit Margin - QTD | 19 | Three Months Ended Amounts (in millions) March 31, 2026 March 31, 2025 GAAP gross profit $ 41.6 $ 71.6 Amortization of acquisition-related intangible assets 0.8 2.5 Adjusted Gross Profit $ 42.4 $ 74.1 Adjusted Gross Profit Margin 71
Slide 20: Free Cash Flow - QTD
Free Cash Flow - QTD | 20 | Three months ended Amounts in millions March 31, 2026 March 31, 2025 Cash flows from operating activities $ 1.9 $ 5.3 Purchases of equipment (0.6) (0.4) Free Cash Flow $ 1.3 $ 4.9