MiMedx Q1 net sales $85M (+18% YoY); GAAP net income $9M; Adj. EBITDA $19M (22% margin)

MIMEDX GROUP, INC.

2024-Q1 EPS reported $0.06 revenue$84,709,000

Net sales $85M, up 18% YoY; gross margin improved to 84.7% from 82.7%.
GAAP net income $9M vs loss of $5M in prior year; Adjusted EBITDA $19M (22% margin) vs $5.5M (7.7%).
Cash $48M at March 31, down from $82M at Dec 31, due to repaying $30M revolver and $5M TELA Bio payment.
Signed distribution agreement with Regenity Biosciences for 510(k)-cleared collagen xenograft; launch expected later in 2024.
Appointed two new independent directors; launched MIMEDX Connect online ordering platform.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MIMEDX GROUP, INC. reported first quarter ended March 31, 2024 results: revenue Net Sales of $85 Million, net income GAAP Net Income was $9 Million.

Period: first quarter ended March 31, 2024
Revenue: Net Sales of $85 Million
Net income: GAAP Net Income was $9 Million
Result: reported results

Exact text from the filing

MIMEDX Announces First Quarter 2024 Operating and Financial Results Net Sales of $85 Million Grew 18% Year-Over-Year for the First Quarter First Quarter GAAP Net Income was $9 Million First Quarter Adjusted EBITDA of $19 Million, or 22% of Net Sales

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MIMEDX GROUP, INC. filing history →

Source: SEC EDGAR

accession 0001193125-24-125073

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