What were the key takeaways from MiMedx Group's earnings call?

What does MiMedx Group do and what are its main business segments?

What is MiMedx Group's gross profit margin?

What is MiMedx Group's latest dividend and current dividend yield?

What is the revenue and EPS growth rate for MiMedx Group year over year?

What guidance did MiMedx Group's management provide for the next earnings period?

Did MiMedx Group beat or miss consensus estimates last quarter?

What factors drove the changes in MiMedx Group's revenue and profit?

- **Record Q3 Performance**: $114M revenue (+35% YoY), $35M adjusted EBITDA, and $124M net cash highlight strong execution.
- **Surgical Growth Engine**: 26% YoY expansion driven by AMNIOFIX and HELIOGEN, with $500M+ TAM in colorectal surgery.
- **Wound Care Resilience**: 40% YoY growth despite reimbursement headwinds, supported by new products like CELERA and EMERGE.
- **Cash Powerhouse**: $150M+ net cash by year-end to fund growth and capitalize on 2026 Medicare reforms.
- **Strategic Focus**: Surgical market expansion, customer intimacy programs (e.g., MiMedx Connect), and evidence-based innovation.

**【CEO Opening Remarks】**
- Q3 2025 revenue reached $114 million, up 35% YoY, with record adjusted EBITDA of $35 million (31% of net sales). Full-year guidance raised to mid- to high teens revenue growth and mid-20s EBITDA margin.
- Surgical segment grew 26% YoY, driven by AMNIOFIX and HELIOGEN. Wound segment grew 40% YoY, boosted by new products like CELERA and EMERGE.
- Launched EPIXPRESS, a fenestrated allograft for post-acute wound care, with positive early feedback.
- Completed interim analysis of EPIEFFECT RCT, with favorable results to be presented at Tissue Repair Evidence Summit.
- Net cash position of $124 million, expected to exceed $150 million by year-end.

**【CFO Financial Review】**
- GAAP net income: $17 million ($0.11 EPS) vs. $8 million ($0.05 EPS) YoY. Adjusted net income: $23 million ($0.15 EPS) vs. $10 million ($0.07 EPS) YoY.
- Gross margin: 84% (GAAP) / 88% (non-GAAP), up 540bps YoY due to product mix and cost efficiency.
- Operating expenses: Sales & marketing at 47% of sales (vs. 50% YoY), G&A at 13% (vs. 14% YoY), R&D at 3% (up $0.8 million YoY).
- Free cash flow: $29 million Q3, record for the company.

**【Q&A Highlights】**
- **Wound vs. Surgical Growth**: Wound franchise grew 40% Q3, Surgical 26%. Q4 growth may face tougher comps but surgical momentum expected to continue.
- **Reimbursement Preparedness**: Company confident in ability to outperform post-2026 Medicare reforms, with $150+ million net cash to capitalize on market share gains.
- **M&A Strategy**: Focused on surgical assets with strategic fit, avoiding wound care due to reimbursement uncertainty.
- **Product Adoption**: HELIOGEN adoption increasing sequentially; AXIOFILL stable despite legal challenges.
- **LCD Submission**: EPIEFFECT interim analysis data submitted for Medicare coverage, with final rules expected in November.

MiMedx Group, Inc. (MDXG) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

MDXG

MDXG fundamentals

You can ask Aime