Loading...
•
Mar 31, 2022
Mimedx Q1 2022 Earnings Report
Reported a slight decrease in net sales but double-digit revenue increase in continuing portfolio, and a net loss compared to the prior year period.
Key Takeaways
MiMedx Group, Inc. announced its first quarter 2022 results, with net sales of $58.9 million, a slight decrease compared to the prior year. However, the continuing portfolio of tissue and cord products experienced a 13% increase in revenue. The company reported a net loss of $10.5 million for the quarter.
Net sales decreased slightly to $58.9 million compared to $60.0 million in the prior year quarter.
Continuing portfolio of tissue and cord products increased 13% year-over-year.
Net loss was $10.5 million, compared to a net loss of $8.4 million for the prior year period.
Advanced Wound Care products drove double-digit growth for the third consecutive quarter.
Forward Guidance
The Company maintained its outlook for 2022, as disclosed in its earnings release for the year ended December 31, 2021, including that it expects net sales of its continuing portfolio of Advanced Wound Care products, which were $240.0 million in 2021, to grow 11% to 14% in 2022, as it plans to launch EPIFIX in Japan, as well as two new products in the U.S., AMNIOEFFECT and its Placental Collagen Matrix product, later this year.
Positive Outlook
- Plans to launch EPIFIX in Japan.
- Plans to launch AMNIOEFFECT in the U.S.
- Plans to launch Placental Collagen Matrix product in the U.S.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...