{"id":956097,"date":"2026-04-29T16:04:50","date_gmt":"2026-04-29T20:04:50","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/mimedx-announces-first-quarter-2026-operating-financial-results\/"},"modified":"2026-04-29T16:04:50","modified_gmt":"2026-04-29T20:04:50","slug":"mimedx-announces-first-quarter-2026-operating-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/mimedx-announces-first-quarter-2026-operating-financial-results\/","title":{"rendered":"MIMEDX Announces First Quarter 2026 Operating & Financial Results"},"content":{"rendered":"
\n

\n Reports\u00a0<\/em>
\n First Quarter<\/em>
\n Net Sales of $59 Million<\/em>\n <\/p>\n

\n Revises 2026 Net Sales and Adjusted EBITDA Expectations<\/em>\n <\/p>\n

\n Management to Host Conference Call Today, April\u00a029, 2026, at 4:30 PM ET<\/em>\n <\/p>\n

MARIETTA, Ga., April 29, 2026 (GLOBE NEWSWIRE) — MiMedx Group, Inc. (Nasdaq: MDXG) (\u201cMIMEDX\u201d or the \u201cCompany\u201d), today announced operating and financial results for the first quarter 2026.<\/p>\n

Joseph H. Capper, MIMEDX Chief Executive Officer, commented, “The first quarter of 2026 was adversely impacted as new Medicare reimbursement policies in the advanced wound care space went into effect at the start of the year and led to significant confusion across the industry in nearly every care setting. Additionally, inconsistent implementation by the Medicare Administrative Contractors (“MACs”) created even greater challenges for providers and their patients.”<\/p>\n

Mr. Capper continued, “We generated $59 million in net sales in the first quarter of 2026. Our Surgical business continued to perform well, increasing 13% year over year and our Wound business declined 60% . As a result of disruption in the wound care market, we are lowering full-year 2026 net sales expectations to a range of $260 to $290 million.\u00a0\u00a0 Furthermore, as announced a few weeks ago, we have taken steps to adjust the Company’s cost structure in response to current market conditions. The $40 million in annualized savings we expect to generate from those actions will position us for a return to profitability over the balance of the year. After the market normalizes, we would anticipate generating double-digit top-line growth in 2027.<\/p>\n

\u201cWhile some disruption was expected, the challenges we are now seeing in the market, coupled with irrational behavior by some industry participants, has added complexity that could not have been anticipated. To compound matters, the wound care market is adjusting to the new reimbursement rules at an extremely slow pace.\u00a0\u00a0 We are working closely with our customers to help them adapt to the changes. Importantly, as we exited the quarter, we saw promising signs of volume recovery in Wound Care Centers and Hospitals. On the other side of this transition, we will be competing in a far more attractive space and believe MIMEDX is uniquely positioned to lead the market.\u00a0\u00a0 Our Surgical franchise continues to post double-digit top-line growth, with 50% growth over the past three years,” concluded Mr. Capper.<\/p>\n

\n First Quarter 2026 Results Discussion<\/strong>\n <\/p>\n

\n Net Sales<\/strong>\n <\/p>\n

MIMEDX reported net sales for the three months ended March\u00a031, 2026 of $59 million, compared to $88 million for the three months ended March\u00a031, 2025, a decrease of 33%. During the quarter, Surgical product sales increased 13% compared to the prior year period, led by sales of AMNIOFIX\u00ae and AMNIOEFFECT\u00ae and another quarter of double-digit growth of our particulate portfolio. These results were offset by a year-over-year decrease in Wound sales of 60%. The performance of the Wound business in the quarter was negatively impacted by several Medicare reimbursement changes that went into effect on January 1, most notably a payment cap on allowable reimbursement for skin substitutes on a per square centimeter basis, coupled with lagging marketplace adoption due to uncertainties around these rule changes. These pressures were primarily seen in the private office and associated care settings, which previously received Medicare reimbursement under the ASP +6% methodology. Sales of Wound products to Wound Care Centers and Hospitals, while also pressured due to the changing rules, showed modest signs of improvement as the quarter progressed.<\/p>\n

\n Gross Profit and Margin<\/strong>\n <\/p>\n

Gross profit for the three months ended March\u00a031, 2026, was $42 million, compared to $72 million the prior year period. Gross margin for the three months ended March\u00a031, 2026 was 71%, compared to 81% in the prior year period. The quarter-over-quarter decline in gross margin was driven primarily by the Medicare reimbursement rules negatively impacting the prices of our Wound products. Unfavorable product mix and other higher costs also contributed to the decline.<\/p>\n

\n Operating Expenses<\/strong>\n <\/p>\n

Selling, general and administrative (“SG&A”) expenses for the three months ended March\u00a031, 2026, were $53 million compared to $60 million for the three months ended March\u00a031, 2025. The decrease in SG&A was driven primarily by a non-recurring reversal of stock-based compensation expense as well as lower commissions on lower sales.<\/p>\n

Research and development (“R&D”) expenses for the three months ended March\u00a031, 2026 and 2025, were $4 million and $3 million, respectively. R&D spend in the quarter reflects the randomized controlled trial for EPIEFFECT\u00ae, which recently completed enrollment, the launch of CHORIOFIX\u2122 and ongoing investments in the development of future products in our pipeline.<\/p>\n

\n Net Income<\/strong>\n <\/p>\n

Net loss for the three months ended March\u00a031, 2026 was $11 million compared to net income of $7 million for the three months ended March\u00a031, 2025.<\/p>\n

\n Cash and Cash Equivalents<\/strong>\n <\/p>\n

As of March\u00a031, 2026, the Company had $160 million of cash and cash equivalents compared to $166 million as of December 31, 2025. As of March\u00a031, 2026, our cash position, net of debt on our balance sheet, was $142 million.<\/p>\n

\n Financial Outlook<\/strong>
\n
For 2026, MIMEDX now expects 2026 net sales to be in a range of $260 to $290 million. 2026 Adjusted EBITDA is expected to be approximately breakeven on a full year basis.\u00a0\u00a0<\/p>\n

Longer-term, the Company continues to expect to achieve annual net sales growth in the low double-digits as a percentage with an adjusted EBITDA margin above 20%.<\/p>\n

\n Conference Call and Webcast<\/strong>\n <\/p>\n

MIMEDX will host a conference call and webcast to review its first quarter 2026 results on Wednesday, April\u00a029, 2026, beginning at 4:30 p.m., Eastern Time. The call can be accessed using the following information:<\/p>\n

\n Webcast: <\/strong>
\n
\n
\n Click here<\/u>
\n <\/strong>
\n <\/a>
\n
\n U.S. Investors: 877-407-6184<\/strong>
\n
\n International Investors: 201-389-0877<\/strong>
\n
\n Conference ID: 13759618<\/strong>\n <\/p>\n

A replay of the webcast will be available for approximately 30 days on the Company\u2019s website at www.mimedx.com<\/a><\/u>\u00a0following the conclusion of the event.<\/p>\n

\n Important Cautionary Statement <\/strong>\n <\/p>\n

This press release includes forward-looking statements, including statements regarding (i) our 2026 and longer term financial goals and expectations for future financial results, including revenue, net sales growth and Adjusted EBITDA margin; and (ii) any changes to underlying demand in the Wound segment, and (iii) the impact of our restructuring and cost reduction initiatives, including expected cost savings, on our future profitability and growth. Additional forward-looking statements may be identified by words such as “believe,” “expect,” “may,” “plan,” \u201cgoal,\u201d \u201coutlook,\u201d “potential,” “will,” “preliminary,” and similar expressions, and are based on management’s current beliefs and expectations.<\/p>\n

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 in the forward-looking statements. Factors that could cause actual results to differ from expectations include: (i) future sales are uncertain and are affected by competition, access to customers, patient access to healthcare providers, the new reimbursement environment, which introduced tighter coverage parameters, lower reimbursement levels in certain categories, and incremental administrative complexity for providers and many other factors; (ii) the Company may change its plans due to unforeseen or evolving circumstances and market response to the reimbursement rules; (iii) the results of scientific research are uncertain and may have little or no value; (iv) our ability to sell our products in other countries depends on a number of factors including adequate levels of reimbursement, market acceptance of novel therapies, and our ability to build and manage a direct sales force or third party distribution relationship; (v) the effectiveness of amniotic tissue as a therapy for particular indications or conditions is the subject of further scientific and clinical studies; (vi) we may alter the timing and amount of planned expenditures for research and development based on regulatory developments; (vii) Medicare spending; and (viii) changes in the size of the addressable market for our products. The Company describes additional risks and uncertainties in the Risk Factors section of its most recent annual report and quarterly reports filed with the Securities and Exchange Commission. Any forward-looking statements speak only as of the date of this press release and the Company assumes no obligation to update any forward-looking statement.<\/p>\n

\n About MIMEDX<\/strong>\n <\/p>\n

MIMEDX is a pioneer and leader focused on helping humans heal. With more than a decade of helping clinicians manage chronic and other hard-to-heal wounds, MIMEDX is dedicated to providing a leading portfolio of products for applications in the wound care, burn, and surgical sectors of healthcare. The Company\u2019s vision is to be the leading global provider of healing solutions through relentless innovation to restore quality of life. For additional information, please visit www.mimedx.com<\/a>.<\/p>\n

\n Contact:<\/strong>
\n
Matt Notarianni
Investor Relations
470.304.7291
mnotarianni@mimedx.com<\/a><\/u><\/p>\n

\n Selected Unaudited Financial Information<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n MiMedx Group, Inc.<\/strong>\n <\/td>\n<\/tr>\n
\n Condensed Consolidated Balance Sheets<\/strong>\n <\/td>\n<\/tr>\n
(in thousands) Unaudited<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nMarch 31,
2026<\/td>\n		\u00a0<\/td>\nDecember 31,
2025<\/td>\n<\/tr>\n
ASSETS<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current assets:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash and cash equivalents<\/td>\n$<\/td>\n159,773<\/td>\n\u00a0<\/td>\n$<\/td>\n166,121<\/td>\n<\/tr>\n
Accounts receivable, net<\/td>\n\u00a0<\/td>\n46,034<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n75,707<\/td>\n<\/tr>\n
Inventory<\/td>\n\u00a0<\/td>\n26,228<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n25,340<\/td>\n<\/tr>\n
Other current assets<\/td>\n\u00a0<\/td>\n8,291<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,303<\/td>\n<\/tr>\n
Total current assets<\/td>\n\u00a0<\/td>\n240,326<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n277,471<\/td>\n<\/tr>\n
Property and equipment, net<\/td>\n\u00a0<\/td>\n4,756<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,713<\/td>\n<\/tr>\n
Deferred tax asset, net<\/td>\n\u00a0<\/td>\n24,127<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n19,596<\/td>\n<\/tr>\n
Goodwill<\/td>\n\u00a0<\/td>\n19,441<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n19,441<\/td>\n<\/tr>\n
Intangible assets, net<\/td>\n\u00a0<\/td>\n13,140<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14,158<\/td>\n<\/tr>\n
Other assets<\/td>\n\u00a0<\/td>\n6,886<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,274<\/td>\n<\/tr>\n
Total assets<\/td>\n$<\/td>\n308,676<\/td>\n\u00a0<\/td>\n$<\/td>\n342,653<\/td>\n<\/tr>\n
LIABILITIES AND STOCKHOLDERS\u2019 EQUITY<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current liabilities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current portion of long term debt<\/td>\n$<\/td>\n1,500<\/td>\n\u00a0<\/td>\n$<\/td>\n1,500<\/td>\n<\/tr>\n
Accounts payable<\/td>\n\u00a0<\/td>\n11,464<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14,528<\/td>\n<\/tr>\n
Accrued compensation<\/td>\n\u00a0<\/td>\n14,524<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n31,065<\/td>\n<\/tr>\n
Accrued expenses<\/td>\n\u00a0<\/td>\n11,008<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,383<\/td>\n<\/tr>\n
Other current liabilities<\/td>\n\u00a0<\/td>\n6,054<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,790<\/td>\n<\/tr>\n
Total current liabilities<\/td>\n\u00a0<\/td>\n44,550<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n64,266<\/td>\n<\/tr>\n
Long term debt, net<\/td>\n\u00a0<\/td>\n16,094<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16,467<\/td>\n<\/tr>\n
Other liabilities<\/td>\n\u00a0<\/td>\n5,096<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,372<\/td>\n<\/tr>\n
Total liabilities<\/td>\n\u00a0<\/td>\n65,740<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n86,105<\/td>\n<\/tr>\n
Total stockholders’ equity<\/td>\n\u00a0<\/td>\n242,936<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n256,548<\/td>\n<\/tr>\n
Total liabilities and stockholders\u2019 equity<\/td>\n$<\/td>\n308,676<\/td>\n\u00a0<\/td>\n$<\/td>\n342,653<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n MiMedx Group, Inc.<\/strong>\n <\/td>\n<\/tr>\n
\n Condensed Consolidated Statements of Operations<\/strong>\n <\/td>\n<\/tr>\n
(in thousands, except share and per share amounts) Unaudited<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nThree Months Ended March 31,<\/td>\n<\/tr>\n
\u00a0<\/td>\n2026<\/td>\n\u00a0<\/td>\n2025<\/td>\n<\/tr>\n
Net sales<\/td>\n$<\/td>\n58,991<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n88,205<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cost of sales<\/td>\n\u00a0<\/td>\n17,368<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16,558<\/td>\n\u00a0<\/td>\n<\/tr>\n
Gross profit<\/td>\n\u00a0<\/td>\n41,623<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n71,647<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating expenses:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Selling, general and administrative<\/td>\n\u00a0<\/td>\n53,231<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n59,969<\/td>\n\u00a0<\/td>\n<\/tr>\n
Research and development<\/td>\n\u00a0<\/td>\n4,140<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,328<\/td>\n\u00a0<\/td>\n<\/tr>\n
Amortization of intangible assets<\/td>\n\u00a0<\/td>\n301<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n99<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating income<\/td>\n\u00a0<\/td>\n(16,049<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,251<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other expense, net<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest income, net<\/td>\n\u00a0<\/td>\n886<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n506<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other expense, net<\/td>\n\u00a0<\/td>\n(168<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(145<\/td>\n)<\/td>\n<\/tr>\n
(Loss) income before income tax<\/td>\n\u00a0<\/td>\n(15,331<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,612<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income tax provision<\/td>\n\u00a0<\/td>\n4,471<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,589<\/td>\n)<\/td>\n<\/tr>\n
Net (loss) income<\/td>\n$<\/td>\n(10,860<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n7,023<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic net (loss) income per common share<\/td>\n$<\/td>\n(0.07<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n0.05<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted net (loss) income per common share<\/td>\n$<\/td>\n(0.07<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n0.05<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Weighted average common shares outstanding – basic<\/td>\n\u00a0<\/td>\n148,446,017<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n147,272,324<\/td>\n\u00a0<\/td>\n<\/tr>\n
Weighted average common shares outstanding – diluted<\/td>\n\u00a0<\/td>\n148,446,017<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n149,677,452<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n
\n MiMedx Group, Inc.<\/strong>\n <\/td>\n<\/tr>\n
\n Condensed Consolidated Statements of Cash Flows<\/strong>\n <\/td>\n<\/tr>\n
(in thousands) Unaudited<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nThree Months Ended March 31,<\/td>\n<\/tr>\n
\u00a0<\/td>\n2026<\/td>\n\u00a0<\/td>\n2025<\/td>\n<\/tr>\n
Net cash flows provided by operating activities<\/td>\n\u00a0<\/td>\n1,879<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,299<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net cash flows used in investing activities<\/td>\n\u00a0<\/td>\n(5,642<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(406<\/td>\n)<\/td>\n<\/tr>\n
Net cash flows used in financing activities<\/td>\n\u00a0<\/td>\n(2,585<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2,878<\/td>\n)<\/td>\n<\/tr>\n
Net change in cash<\/td>\n$<\/td>\n(6,348<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n2,015<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n
\n
Reconciliation of Non-GAAP Measures<\/strong>\n <\/p>\n

In addition to our GAAP results, we provide certain non-GAAP measures including Adjusted EBITDA and related margins, Free Cash Flow, Adjusted Gross Profit, Adjusted Gross Margin, Adjusted Net Income, and Adjusted Earnings Per Share (“Adjusted EPS”). We believe that the presentation of these measures provides important supplemental information to management and investors regarding our performance. These measures are not a substitute for GAAP measures. Company management uses these non-GAAP measures as aids in monitoring our ongoing financial performance from quarter-to-quarter and year-to-year on a regular basis and for benchmarking against comparable companies.<\/p>\n

These non-GAAP financial measures reflect the exclusion of the following items:<\/p>\n