MiMedx Q2 net sales up 13%, beat expectations
Overview
MiMedx Q2 net sales rise 13% yr/yr to $99 mln, beating analyst expectations
Adjusted EBITDA for Q2 was $24 mln, or 25% of net sales
Outlook
MiMedx expects 2025 net sales growth in low double-digits
Company anticipates 2025 adjusted EBITDA margin above 20%
MiMedx engaging with CMS on reimbursement reforms
Result Drivers
WOUND PRODUCT SALES - Driven by 12% growth, supported by newer products CELERA™ and EMERGE™
SURGICAL PRODUCT SALES - Increased 15% with contributions from AMNIOFIX®, AMNIOEFFECT®, and HELIOGEN™
GROSS MARGIN DECLINE - Decrease attributed to production variances and product mix
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales | Beat | $98.60 mln | $90.60 mln (5 Analysts) |
Q2 EPS | $0.06 | ||
Q2 Net Income | $9.62 mln | ||
Q2 Gross Profit | $79.92 mln | ||
Q2 Operating Income | $12.37 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for MiMedx Group Inc is $12.00, about 44.4% above its July 29 closing price of $6.67
The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 25 three months ago
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