Mimedx Group, Inc · NASDAQ:MDXG
Mimedx — Q3 2025 Earnings Presentation
20 slides from Mimedx's earnings presentation, Oct 29, 2025
Slide 1: Q3:2025 Financial Results Conference Call
Q3:2025 Financial Results Conference Call October 29, 2025
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 Q3:25 Financial Results Conference Call 3
Slide 4: Q3:25 Highlights
Q3:25 Highlights GAAP Gross Margin & Net Sales GAAP Net Income Adjusted Gross Margin1 Surgical Growth 84% $114MM $17MM & +26% YoY +35% YoY 88% $35MM $29MM $124MM 31% of net sales Adj. EBITDA1 Free Cash Flow1 Q3:25 Net Cash 1) Adjusted Gross Margin, Free Cash Flow, Adjusted EBITDA and related margins
Slide 5: Executing on Our Strategic Priorities While Delivering Results
Executing on Our Strategic Priorities While Delivering Results 1 2 3 Innovate & Diversify Develop & Deploy Enhance Customer Product Portfolio to Programs to Expand Intimacy Maximize Growth Surgical Footprint EPIEFFECT RCT interim Surgical uptake continues Added new features to MIMEDX report drafted,
Slide 6: Final Medicare Rules Expected to Transform Market in 2026
Final Medicare Rules Expected to Transform Market in 2026 Comment Period MIMEDX supports CMS’ approach, but has submitted a few suggestions to refine the methodology Setting the fixed price using other reasonable inputs, resulting in a Setting a higher application fee for providers covered by the PF
Slide 7: Increasing Full Year 2025 Outlook
Increasing Full Year 2025 Outlook Reaffirming Long-Term Financial Goals Full Year Long-Term 2025* Net Sales Mid-to-high teens Low double-digits % Growth vs. 2024 Adjusted EBITDA Margin Adjusted EBITDA Margin Profitability of at least mid-20% above 20% *2025 Outlook provided as of October 29, 2025. A
Slide 8: Financial Results
Financial Results Doug Rice, Chief Financial Officer Q3:25 Financial Results Conference Call 8
Slide 9: Q3:25 Net Sales Recap
Q3:25 Net Sales Recap Total Net Sales By Product Category $114MM Growth in Surgical continues to be led by robust uptake of $37MM +26% yoy Surgical portfolio, including AMNIOFIX, $84MM AMNIOEFFECT and continued ramp in $29MM HELIOGEN $77MM +40% yoy Sales of CELERA and $55MM EMERGE continue to drive
Slide 10: Q3:25 P&L Metrics
Q3:25 P&L Metrics $95MM Q3:24 Strong sales Q3:25 and favorable $69MM mix generated $54MM $42MM robust gross margins… $12MM $15MM $3MM $4MM % of net sales 82% 84% 50% 47% 14% 13% 3% 3% Gross Profit & Margin S&M G&A R&D …and we % of net sales 82% 88% continued to Adj. Gross Margin1 drive opex leverage
Slide 11: Q3:25 Balance Sheet & Cash Flows
Q3:25 Balance Sheet & Cash Flows 77% Net Cash Balance Growth Since Q3:24 Q3:25 Free Cash Flow1 $29MM $124MM $100MM LTM Q3:25 Free Cash Flow1 $67MM $70MM $86MM $88MM Record Quarterly Free Cash Flow, driven by strong sales growth and expense management – further strengthens our balance sheet to enable
Slide 12: Closing Remarks
Closing Remarks Joseph H. Capper, Chief Executive Officer Q3:25 Financial Results Conference Call 12
Slide 13: Summary
Summary Net Sales GAAP Adj. EBITDA1 Free $114MM Net Income $35MM Cash Flow1 +35% YoY $17MM 31% of Net Sales $29MM FY2025 Guidance* FY2025 Guidance* Pilot Programs Recently Launched Revenue Outlook Adj. EBITDA Progressing, Including: Mid-to-High Teens Mid-to-High 20s percentage basis percentage basis
Slide 14: Q&A
Q&A Q3:25 Financial Results Conference Call 14
Slide 15: Appendix
Appendix Q3:25 Financial Results Conference Call 15
Slide 16: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures In addition to our GAAP results, we provide certain non-GAAP measures including Adjusted EBITDA, related margins, Free Cash Flow, Adjusted Gross Profit, Adjusted Gross Margin and Adjusted Net Income. • Adjusted EBITDA consists of GAAP net income excluding: (i) dep
Slide 17: Adjusted Gross Profit & Adjusted Gross Profit Margin
Adjusted Gross Profit & Adjusted Gross Profit Margin Three Months Ended Amounts (in millions) September 30, 2025 September 30, 2024 GAAP gross profit $ 95.0 $ 68.7 Amortization of acquisition-related intangible assets 4.6 0.4 Adjusted Gross Profit $ 99.6 $ 69.1 Adjusted Gross Profit Margin 87.6 % 82
Slide 18: Adjusted EBITDA - QTD
Adjusted EBITDA - QTD Amounts (in millions) for the three months ended September 30, 2025 September 30, 2024 Net income $ 16.7 $ 8.1 Depreciation expense 0.6 0.6 Amortization of intangible assets 4.7 0.6 Interest income, net (0.8) (0.3) Income tax provision 6.1 3.5 Stock-based compensation expense 4
Slide 19: Adjusted Net Income and Adjusted EPS - QTD
Adjusted Net Income and Adjusted EPS - QTD Amounts (in millions) for the three months ended September 30, 2025 September 30, 2024 Net income - GAAP $ 16.7 $ 8.1 Amortization of acquisition-related intangible assets 4.6 0.4 Strategic legal and regulatory expenses 2.5 1.0 Disbanding of Regenerative Me
Slide 20: Free Cash Flow
Free Cash Flow Three months ended Amounts in millions September 30, 2025 September 30, 2024 Cash flows from operating activities $ 29.3 $ 19.6 Purchases of equipment (0.2) (0.2) Free Cash Flow $ 29.1 $ 19.5 Q3:25 Financial Results Conference Call 20