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Jun 30, 2022
Mimedx Q2 2022 Earnings Report
Announced second quarter operating and financial results
Key Takeaways
MiMedx Group, Inc. reported second quarter net sales of $66.9 million, reflecting double-digit revenue increase for the fourth consecutive quarter in the Company's continuing portfolio of products. The company achieved strong year-over-year revenue growth in key focus area of Surgical Recovery and reaffirms 2022 revenue growth outlook of 11% to 14% in continuing portfolio of products.
Reported second quarter net sales of $66.9 million, including an increase of 11.6% from the Company's continuing portfolio of products versus the same period last year.
Introduced AMNIOEFFECT, with the first patient treated in a limited market release. Full product launch is planned for the third quarter of 2022.
Appointed a General Manager, Mr. Takanori Kuramoto, to lead the Company's global expansion efforts in Japan and other Asia Pacific markets.
Scheduled a Type B RMAT meeting with the FDA to review the results from the Company's Phase 2B KOA clinical trial and the proposed protocol for the next KOA registrational study.
Forward Guidance
The Company is maintaining 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.
Positive Outlook
- plans to launch AMNIOEFFECT
- plans to launch Placental Collagen Matrix product, AXIOFILL™ in the U.S. in September
- plans to launch EPIFIX® in Japan later this year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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