Slide 1: Q1 2024 Results Conference Call
Exhibit 99.2 Q1 2024 Results Conference Call April 30, 2024
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: Joe Capper, Chief Executive Officer
Joe Capper Chief Executive Officer helping humans heal.
Slide 5: Q1:24 Highlights
Q1:24 Highlights 1 Gross Margin Net Income Net Sales Adjusted EBITDA $85MM 85% $9MM $19MM +18% year-over-year 22% of net sales Cash Balance Portfolio Expansion Free Cash Flow Launched $48MM into Xenografts $5MM E-Commerce & Account Management Platform 1 – EBITDA, Adjusted EBITDA, related margins and
Slide 6: Evolving Our Strategic Priorities from 2023 to 2024
Evolving Our Strategic Priorities from 2023 to 2024 2023 2024 Innovate & diversify product portfolio to Build leadership position in Wound & Surgical maximize growth Develop & deploy programs to expand Develop opportunities in adjacent markets footprint in Surgical market Demonstrate corporate disci
Slide 7: AXIOFILL Update
AXIOFILL Update FDA has taken position that AXIOFILL is subject to regulation under Section 351 as a biologic drug MIMEDX pursued formal pre-RFD and RFD process in 2023 Currently, similar human-derived particulate products are on the market and classified either as Section 361 products or with FDA 5
Slide 8: Doug Rice, Chief Financial Officer
Doug Rice Chief Financial Officer helping humans heal.
Slide 9: Strong Q1:24 Net Sales
Strong Q1:24 Net Sales Total Net Sales By Site of Service By Product Type $85 Other $11MM $72 $28 +32% $26 Hospital Private $44MM Office +4% $57 $30MM $45 +41% Q1:23 Q1:24 Q1:23 Q1:24 Wound Surgical Sixth consecutive quarter of double-digit year-over-year net sales growth 9 $ millions $ millions
Slide 10: Q1:24 Gross Profit & Gross Margin
Q1:24 Gross Profit & Gross Margin Favorable Mix Once Again Helping Drive Gross Margin Expansion 80 $72 Q1:24 gross profit and gross margin $59 improvements were driven by higher net sales and a favorable product mix, respectively 85% 83% Continue to expect this business to achieve consistent, mid-80
Slide 11: Q1:24 Operating Expenses
Q1:24 Operating Expenses Q1:23 $55 $52 Q1:24 Operating expense leverage more than offsetting higher sales $3 $3 commissions % of net sales 73% 65% 5% 3% R&D SG&A Adjusted EBITDA $19 margin above 20% $9 $6 to start 2024 -$5 8% % of net sales (7%) 11% 22% Adjusted EBITDA Net Income/Loss 11 $ millions
Slide 12: Q1:24 Balance Sheet & Cash Flows
Q1:24 Balance Sheet & Cash Flows Q1:24 Q1:24 Revolving Credit Refinancing Free Cash Flow Line Repaid Net Cash Balance Completed $29MM $5MM $30MM Jan. 2024 Strengthening Financial Position Provides Optionality for Future Organic and Inorganic Opportunities 12
Slide 13: Joe Capper, Chief Executive Officer
Joe Capper Chief Executive Officer helping humans heal.
Slide 14: Q1:24 Summary
Q1:24 Summary Net Sales of $85 million were up 18% year-over-year Gross profit margin increased to 85% Adjusted EBITDA of $19 million reflected 22% of net sales Growth in all sites-of-service Successful refinancing in January to strengthen our balance sheet Acquired rights to commercialize our first
Slide 15: Medicare Addressing Needed Changes for Skin Substitute Reimbursement
Medicare Addressing Needed Changes for Skin Substitute Reimbursement Last week, a unified proposed LCD was published outlining a significant overhaul of Medicare reimbursement of skin substitutes Similar in some ways to LCDs from last year that were ultimately shelved, with some important difference
Slide 16: Closing Remarks, Q&A
N i "Ny (BZ ~ I an 4 bi \ I “Wty 4 Fi ar / Closing Remarks, Q&A as