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Sep 30, 2022
Mimedx Q3 2022 Earnings Report
Reported first year-over-year growth in net sales in six quarters and introduced segment reporting to highlight trends within each business unit.
Key Takeaways
Mimedx Group, Inc. reported a 7.3% increase in net sales for the third quarter of 2022, reaching $67.7 million. The growth was driven by demand for surgical recovery products, including new products AMNIOEFFECT and AXIOFILL. The company's net loss for the quarter was $8.4 million, compared to a net loss of $2.3 million for the prior year period.
Net sales increased by 7.3% to $67.7 million.
Todd Newton appointed interim CEO.
Reimbursement approval obtained in Japan for EPIFIX.
Launched AMNIOEFFECT and AXIOFILL products.
Forward Guidance
The Company expects net sales for the fourth quarter 2022 to be in a range of $73 to $76 million, which reflects year over year growth in a range of 8% to 15%. As a result, for the full year 2022, the Company expects net sales to be in a range of $266 to $269 million, which reflects 11% to 12% growth on its 2021 net sales of its continuing portfolio of Advanced Wound Care products.
Historical Earnings Impact
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