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MiMedx Group (MDXG) investor relations material
MiMedx Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record quarterly net sales of $114 million in Q3 2025, up 35% year-over-year, with wound products up 40% and surgical products up 26%.
Adjusted EBITDA reached $35 million (31% of net sales), the highest in company history, with robust free cash flow and a net cash position of $124 million.
Net income for Q3 2025 was $17 million, more than doubling from Q3 2024, with diluted EPS of $0.11.
Launched new products (EPIXPRESS, HELIOGEN, CELERA, EMERGE) and advanced strategic collaborations, supporting portfolio diversification and market expansion.
Cash and cash equivalents rose to $142 million as of September 30, 2025, up from $104 million at year-end 2024.
Financial highlights
Q3 2025 gross profit was $95 million, with gross margin improving to 84% from 82% year-over-year; adjusted gross margin was 88%.
Operating income for Q3 2025 was $22.2 million, up from $11.2 million in Q3 2024.
Free cash flow for Q3 2025 was $29 million, up from $19 million in Q3 2024; for the nine months ended September 30, 2025, it was $48 million.
For the nine months ended September 30, 2025, net sales were $300.5 million, up 17.4% year-over-year.
Adjusted net income for Q3 2025 was $23 million ($0.15/share).
Outlook and guidance
2025 net sales growth outlook raised to mid-to-high teens percentage range; adjusted EBITDA margin projected to be at least mid-20%.
Expects full-year non-GAAP gross margin around 85%; sales and marketing expenses to be 49–50% of net sales, G&A at 14–15%, and R&D at 3%.
CMS proposed reimbursement changes for skin substitutes may impact the business starting January 1, 2026, with final rules expected by year-end.
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