Slide 1: Q2 2024 Results Conference Call
Exhibit 99.2 Q2 2024 Results Conference Call July 31, 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: Highlights
Q2:24 Highlights 1 Net Income Net Sales Gross Margin Adjusted EBITDA $18MM $87MM 83% $20MM +7% year-over-year 23% of net sales Portfolio Expansion First Publication 1 Cash Balance Free Cash Flow into Xenografts in $69MM $22MM 5 1 – EBITDA, Adjusted EBITDA, related margins and Free Cash Flow are non-
Slide 6: Executing on Strategic Priorities Despite Wound Market Turbulence
Executing on Strategic Priorities Despite Wound Market Turbulence Strategic Priorities Progress Update ➢ Strong Q2 growth from AMNIOEFFECT® & EPIEFFECT® Innovate & diversify product portfolio to maximize growth ➢ Ongoing uptake in Japan ➢ First ever publication in Nature for MIMEDX Develop & deploy
Slide 7: Doug Rice, Chief Financial Officer
Doug Rice Chief Financial Officer helping humans heal.
Slide 8: Net Sales Recap
Q2:24 Net Sales Recap Total Net Sales By Product Category By Site of Service $87 $81 Other $13MM $30 +18% $28 Hospital Private $47MM Office +2% $27MM +13% $58 $53 Q2:23 Q2:24 Q2:23 Q2:24 Wound Surgical 8 $ millions $ millions
Slide 9: Gross Profit & Gross Margin Roughly Flat Year/Year
Q2:24 Gross Profit & Gross Margin Roughly Flat Year/Year 80 $72 $68 Q2:24 GAAP gross profit and gross margin impacted by HELIOGEN transaction-related accounting, 83% excluding this $0.4 million impact, 83% gross margins were flat 0 Q2:23 Q2:24 9 $ millions Gross Margin
Slide 10: Operating Expenses
Q2:24 Operating Expenses Q2:23 $55 $52 Q2:24 Higher SG&A due to increased commercial expenses $4 $3 % of net sales 64% 64% 5% 3% R&D SG&A Continue to deliver strong Net $20 $18 $14 Income and an $11 $6 Adjusted EBITDA $1 margin above 20% 20% 7% 13% 17% 23% % of net sales 1% GAAP Net Income Adj. Net
Slide 11: Balance Sheet & Cash Flows
Q2:24 Balance Sheet & Cash Flows …Enabling Net Cash to Nearly Quadruple Strong Free Cash Flow Generated by the Since Beginning of 2023 Business… $50 $22 $34 $32 $29 $12 $10 $20 $7 $13 $5 Q1:23 Q2:23 Q3:23 Q4:23 Q1:24 Q2:24 -$5 Q1:23 Q2:23 Q3:23 Q4:23 Q1:24 Q2:24 Continue to Organically Strengthen Ba
Slide 12: Joe Capper, Chief Executive Officer
Joe Capper Chief Executive Officer helping humans heal.
Slide 13: Summary
Q2:24 Summary Net Sales of $87 million were up 7% year-over-year Gross profit margin 83% Adjusted EBITDA of $20 million reflected 23% of net sales Q2:24 cash balance of $69 million HELIOGEN launch underway and already being used in surgical cases Recent Nature publication builds on our industry-lead
Slide 14: Physician Office Medicare Reimbursement Overhaul Needed
Physician Office Medicare Reimbursement Overhaul Needed 1 Medicare Allowed Charges for skin Loopholes creating commercial frenzy that has caused tremendous disruption in the market substitutes have exploded since 2020 $4.0B $4 6 Disruption surged in Q2:24 for MIMEDX 5 $3 Above average employee & cus
Slide 15: 2024 & Long-Term Outlook
2024 & Long-Term Outlook Long-Term Long-Term Net 2024 Net Sales % Growth Sales % Growth Profitability Adjusted Mid-to-high EBITDA Low double- single digits margin above digits vs. 2023 20% Despite near-term disruption, long-term outlook for the business remains unchanged 15
Slide 16: Closing Remarks, Q&A
Ge: us Closing Remarks, Q&A